I've been following Popov's work since legacy. I would like to share support that's why I went to become a Pro user a few months back. Unfortunately, I can't generate my own strategies that is performing consistently through the years. I must be doing something wrong.

1. Is it advisable to initially stick with default numeric values when building from an existing strategy or a strategy from scratch?

2. I also like the idea of having an LTF embedded in the strategy but does FSB utilize this parameter in the Generator?

3. From what hannahis mentioned, it looks like I need to test and combine multiple EAs to one account to be trading efficiently. Is this correct?

I've been trading price action and would like to take a decent load off work since I would like to re-prioritize time for the family, I hope I can generate a decent EA for this through FSB.

Hi Don,

(2) LTF embedded in the strategy...

When you use LTF in your strategy, do bear in mind that the EA will not be executed authentically accordingly to your trading theory because of the multiple use of different price values taken from multiple time stamps (each time frame you use in the LTF has different previous bar values), to read more about the implication of PBV go to this llink, http://forexsb.com/forum/post/35503/#p35503

(3) No, I (developed thousands of EA) test multiple EA in 1 account to find out which EA has better profit factor, win/loss ratio etc.  So that I select the best EA for my live account.  You don't need multiple EA to trade effectively, in fact if you have just one EA that can give you consistent high performance, that's already good enough to retire comfortably.  Cos no matter how many EA you have, it's still tied to your money management and the % of DD you can trade safely without blowing your account.

You can't develop an EA that can perform consistently over the years.  I'm not surprise, cos the "fault" may not lie in your trading theory but in FSB's PBV functionality.

How do you expect to produce consistent EA via FSB PBV version, when your EA is restricted to Bar open, close and the use of previous bar in your EA calculation.  Such method of of using multiple price value (in LTF EA) or previous bar value to calculate current price behaviour will never produce consistent results in live/demo trading nor provide any consistent result in back testing.  Your indicator's formula, designed by the creator is only intended to be used correctly when it uses only 1 price value per calculation (for all time frames) and not multiple price values (at 1 current time/price).  So technically, using multiple previous bar value (in LTF) to calculate the current price value of your Forex currency and then make a "correct" decision whether a cross over has truly taken place, at this current price value is something PBV can never produce an accurate answer.  And since using FSB PBV can never produce any accurate answer pertaining to the current price value of the market situation or in backtesting, the EA you created via Generator or optimiser or test out in live/demo is never going to be consistent because the method of calculation can never produce any consistent behaviours.

I've tested out trading theory with UPBV and with PBV version, trading concepts using PBV version failed miserably, especially those with higher time frame, eg H4 EA.  But when I tested out the trading theory with UPBV in H4 time frame, it worked beautifully as what the trading concept originally meant to be.  So the fault lies not in the trader's trading concept but that PBV failed to carry out users' trading concept as authentically as it meant to be.

What's the Difference between PBV and UPBV?

PBV EA uses previous bar values to do it's calculation to make the decision whether a cross over has happened in the previous bar, not current bar (hence, your EA won't be accurate to pinpoint a true cross over and therefore not able to achieve high entry/exit accuracy.  As a result, no consistent EA behaviours can be produced via PBV method).

UPBV EA uses current price value to calculate whether a cross over really happened at this current price, hence your EA is able to execute exactly at the current price when a cross over really happened at the NOW not in the past (as in the case of Previous Bar value).

Try the UPBV version, you may be surprised that your trading concepts may finally work at last (and begin to be profitable) accordingly to what you have always wanted it to be.  Now I'm more certain of getting consistent EA performance via UPBV, why? not difficult to guess.  Consistent use of the indicator's formula with only 1 current price value of cos will produce consistent results throughout all the time/years as compared to the use of multiple varied price used in PBV version.  One doesn't need to be a mathematical genius to understand this simple concept of consistency being applied to the indicator's formula.  (It is such an irony, Popov has a tremendous powerful software FSB UPBV version, but he doesn't know it nor appreciate it.  He failed to see the great potential behind it to reap it's benefits or push it to greater heights....a real pity indeed).

PBV works fine with you if you are using position trading style whereby your profit generated isn't going to rely on accuracy of entry/exit.  Whereby you open a position for days and months, treat it as an "investment" as Popov said and then only check your trading position once a day trading style, then the use of PBV is of not concern or issue to you at all.  Beware, you need to stomach a huge DD to tolerate this trading style (since accuracy isn't it's forte).  If you think this style suits you, then probably try generating EA using D1 time chart, you probably will find some profitable EA that works in the long run (don't use trailing stop limit cos your EA isn't sensitive to enter correctly, hence needed huge DD to tolerate the "mistake" and thus the use of trailing may kill your account).  In fact such trading style, you don't need a EA at all.  Just check your daily chart indicator to see whether there is a change in trend.  (if this is also Popov's trading style, no wonder he has no issue at all with PBV.  Unfortunately, PBV isn't suited for a lot other trading style such as scalper or intraday trading and hence not a versatile software to cater to different traders' needs).

Is PBV version versatile to suits different trading style?

Can PBV EA execute any time when market conditions are met?

Ans: No, only at Bar close (unless you don't input your own trading theory but use the pre set menu in group A with only 1 closing condition).

Can PBV EA do an accurate calculation across all time frames (using LTF), using only the current price value? 

Ans: No, it cannot use current price value, only previous bar value and not just 1 price value at a certain time but multiple price values taken at various time to determine whether to entry at this current bar close?  Do you think such method of deriving an answer produce accurate results/entry/exit strategy/backtesting?

Even if you aren't using LTF features, PBV EA still can't produce accurate calculation so long as it's not using the current price value (which is valid at this current market conditions), it uses the previous bar value to make your current decision.  Do you take your last year blood pressure to make your current decision about your health condition?  Does it make sense?  Do you take your temperature yesterday to determine whether you have fever today?  Do you use yesterday's flight arrival/departure to determine when you go to airport to catch your flight?  Do you use yesterday's weather forecast to plan or predict today's weather.  It sounds ridiculous but it's true, we won't tolerate such outdated method of prediction but yet we tolerate the use of Previous bar value to make our trading predictions/execution in FSB's PBV version.  I begin to wonder how many real traders are there in FSB and no wonder, despite it's cheap pricing, not many people/traders will accept such trading rules/restrictions and purchase such software.

If you are trying to develop intraday or scalper EA, tough luck if you are using PBV version cos accuracy is never it's forte (how to be accurate with bar value calculation and the use of multiple PBV in LTF EA?) and hence, EA that needs fast and accurate execution will faced  a tough challenge via PBV version.  UPBV overcomes this barrier and delivery better results.

If you truly understand the implication of using Previous bar value in your EA's calculation and you didn't fail your math subject, you would definitely know that such calculation can never produce any accurate results (both in execution and backtesting) and hence that would answer your question why despite all these years of trying the FSB generator/optimiser, you never ever found a consistent EA which you can truly rely on for your retirement.
I sincerely hope you get to find and developed a profitable EA so that you can experience financial freedom to do what you valued most, spending more time with your love ones, pursuing other worthy dreams.  Me too, I working for that day to happen and now I already found my "winning formula", it is to find the right software to execute it the way I wanted so that I can finally live the life I'm dreaming for.

Let's take a vote, how many of you want your EA to perform accurate calculation via the use of the current price value (UPBV version) and would not tolerate the use of outdated data (previous bar value) to make your trading predictions?  Write in and voice your trading preference.

And to those who are considering whether to make your purchase, please study the implications of the use of Previous bar value on your trading theory to see whether you can tolerate this kind of calculation and execute in your EA and whether there is a fitness in your trading theory with the way FSB's PBV function. 

Ps: here is the link to do UPBV experimentation to see for yourself, which version suits your trading concepts. http://forexsb.com/forum/post/35503/#p35503

Personally, UPBV is far better and if Popov were to use UPBV and tick data, I'm very sure, more users will find greater success.  Already my EA are having better performance via UPBV.  If Popov goes in the UPBV direction and ultilize of tick data for backtesting... I believe strongly that with UPBV and tick data, finding profitable EA via FSB isn't going to be that difficult.  And if it is (still difficult, which I don't think it will be)..I will personally guide those who write in to me to find a profitable one (but I'm more certain that when that time/day do happen, most will be relying on FSB's generater and optimiser to guide them and don't need any other's help anymore...when that day come...FSB will be selling like hot cakes...and we never need any trading guru anymore, FSB is our trading guru).

Best Regards
Hannah

Look in the lower section of the settings of an indicator to see the LTF choices

I am pretty sure you can accomplish your goal, it is going to take considerable effort and study on your part.

I suggest that you study re Strategy Quality Number, Sharpe Ratio etc so that you can quickly analyze results

If it will not pass Multi Market test..... be skeptical.....

Have fun!

1. Is it advisable to initially stick with default numeric values when building from an existing strategy or a strategy from scratch?

2. I also like the idea of having an LTF embedded in the strategy but does FSB utilize this parameter in the Generator?

3. From what hannahis mentioned, it looks like I need to test and combine multiple EAs to one account to be trading efficiently. Is this correct?

I've been trading price action and would like to take a decent load off work since I would like to re-prioritize time for the family, I hope I can generate a decent EA for this through FSB.

I'll look into your proposal of posting an EA to illustrate my point clearer.

It will be good if you have a trading theory in mind and post your draft EA and I'll try to work on it, using LTF method if I can understand your theory well enough.

Meanwhile I'll try to work on Pradeep's simple theory with bar open above MA6 concept to illustrate the use of LTF better with examples

GI've me some time to work on it as I've not been feeling well these days and my kids were sick one after another but thank God they are well now.

So if anyone has a good theory to share, even as simple as the MA6,  I can try to work it out with FSB to illustrate the concept of LTF and to maximise or improve your EA with this method.

It takes both hands to clap.  I want to encourage others to share their knowledge.   Rest assured I don't need other people's EA to succeed.   I already have hundreds of profitable EA, my quest is different from others. 

My challenge is to perfect my EA, not searching for profitable ones as I've already know how to make profitable EA.  Invest your time to come up with a good trading theory, it's the backbone of your trading success, thereafter, making profitable EA is easy once your theory is strong and sound.  In fact, when I put in some of my opening conditions and let the Generator work on it, the Generator can churn out many profitable EA for me (however, this is not how I got my hundreds of EA and I only discover it recently when I started out my Generator Project, ha, ha, ha cos in the past, I always shun away from the Generator and Optimiser).  Now my focus is to work on the really good ones (Profit Factor above 10).  So having too many EA is rather "distracting" to me.  And working on other people's theory divert my energy away.  So I'm not interested to steal anyone's idea at all.

Today's trading performance. So i don't want anyone to think I'm trying to steal anyone's idea or EA by asking people to share their theory or EA, in fact, by sharing, they get "free" consultation and allow someone to improve their EA for free.

I'll share and post my EA in the Premium section so that only Licence members can access.  Cos I'm not interested to help those users/traders who has been using FSB all these while and "rip" off Popov/FSB by not contributing and supporting FSB's growth and future.

Firstly, if you have questions about indicators, I think Footon is the expert here.

As for me, I'm just a season 1min or 5min chart user...other than that I'm rather blurred about many things

So I can only tell you based on my own experience...and how to churn out profitable EA in 1min or 5min chart.  As for how the brokers can "steal" the pips from 1min or 5min charts, this I don't have the answer.  So I look for reliable brokers...JFD broker seem creditable, JFD claimed that they can produce your trading receipts sent for every of your orders to prove that they don't do desk dealing or trade against you etc. 

Tips for using FSB Pro to make profitable EA on 1min or 5 min MT4 chart

1.  The advantage in using lower time frame such as 1min or 5min is that you can take advantage of the feature "Longer Time Frame".

2.  My trading stlye is to find a set of indicators (do adjust the parameters till you find the period best that produce the "curves and crosss over" that follows the price movement or trend of the H1, H4 or D1 MT4 chart.
(use smaller parameters for larger time chart such as H4 or D1 and larger parameters for smaller time chart such as 1 min or 5 min).  Put these indicators with various parameters "overlapping" in your MT4 charts and then keep switching over different time chart in MT4 to observe and compare which parameters are good for which time chart.

3.  I use D1 or H4 to be the determining factors of when a trend starts and I input the parameters as 1st opening conditions in the FSB Pro 1min chart, with Longer time frame input as D1 or H4 to tell FSB to "act" only when H4 or D1 has these conditions.  As for closing, put "close and reverse".  Later after you have completed all the opening conditions, you can adjust your closing conditions to make it more "responsive" or last "strict" as your opening conditions. 

4.  After you input your "determining factors/conditions" of when a trend will start in the D1 or H4 chart, you start to input other opening conditions starting with the bigger Longer Time Frame first in decending order. eg D1, H4, H1, 30min, 15min, 5min and default (1min or 5 min).  This is my trading style, if H4 or D1 shows upward trend, my EA will not enter into trade unless all, if not most of the other time charts also show or "agree" with D1 or H4 that it is ready to "move" upward.  If the lower time frame or charts aren't ready, it means it is still under "sideway trending" and waiting to build up the momentum cos the D1 and H4 are already getting ready for the big move.

As a result of using the Longer Time Frame features, most of my trade will take in profit ranging $500 to $1500 within 3 to 5 hrs.  It hardly open a position for more than 1 or 2 days.  The EA will wait till it is the right time to enter and hence, trade duration is short because it has high entry accuracy.

After Popov increased the FSB opening and closing conditions from 8 to 26, my EA improved a lot more in entry accuracy because now I can input more conditions for all time frame.  In the past, with only 8 conditions, I have to prioritise which time frame to use and hence can't input for all time frames.  Now I can and hence my EA eliminate more sideway trending and false signals with the increase of conditions given.

I've created thousands of EA, that's how much of trial and error till I finally figure out which work best...hence i would not short change your learning curve.  You can make a few EA that uses different "determining Factors" such as I've EA enter when D1 is "higher" etc. and other EAs with H4, and other EAs with H1 etc. So that while the D1 is "sleeping", other smaller trend movement can be captured by the other time frames. 

Ok, I hope I've been clear with my explanation and hopefully "convince" some to give 1min or 5min chart for a try and "think out of the box".

brilliant. using the trend of longer time frame [as a filter], with the entry of the smaller time frame.

now why did i not think of that? why was i born a man?

thanks for reminding me of this brilliant idea-i have used it trading 5 min PA manually.

for example if you wanted to use a 20 ema of hourly but plotted on a  5 min chart, just use the 240 on the 5 min.

Firstly, if you have questions about indicators, I think Footon is the expert here.

As for me, I'm just a season 1min or 5min chart user...other than that I'm rather blurred about many things

Tips for using FSB Pro to make profitable EA on 1min or 5 min MT4 chart

1.  The advantage in using lower time frame such as 1min or 5min is that you can take advantage of the feature "Longer Time Frame".

2.  My trading stlye is to find a set of indicators (do adjust the parameters till you find the period best that produce the "curves and crosss over" that follows the price movement or trend of the H1, H4 or D1 MT4 chart.
(use smaller parameters for larger time chart such as H4 or D1 and larger parameters for smaller time chart such as 1 min or 5 min).  Put these indicators with various parameters "overlapping" in your MT4 charts and then keep switching over different time chart in MT4 to observe and compare which parameters are good for which time chart.

3.  I use D1 or H4 to be the determining factors of when a trend starts and I input the parameters as 1st opening conditions in the FSB Pro 1min chart, with Longer time frame input as D1 or H4 to tell FSB to "act" only when H4 or D1 has these conditions.  As for closing, put "close and reverse".  Later after you have completed all the opening conditions, you can adjust your closing conditions to make it more "responsive" or last "strict" as your opening conditions. 

4.  After you input your "determining factors/conditions" of when a trend will start in the D1 or H4 chart, you start to input other opening conditions starting with the bigger Longer Time Frame first in decending order. eg D1, H4, H1, 30min, 15min, 5min and default (1min or 5 min).  This is my trading style, if H4 or D1 shows upward trend, my EA will not enter into trade unless all, if not most of the other time charts also show or "agree" with D1 or H4 that it is ready to "move" upward.  If the lower time frame or charts aren't ready, it means it is still under "sideway trending" and waiting to build up the momentum cos the D1 and H4 are already getting ready for the big move.

As a result of using the Longer Time Frame features, most of my trade will take in profit ranging $500 to $1500 within 3 to 5 hrs.  It hardly open a position for more than 1 or 2 days.  The EA will wait till it is the right time to enter and hence, trade duration is short because it has high entry accuracy.

hannahis,

I will print out your detailed descriptions of using LTF on M1 charts and let it be the first page in my Forex binder. You are one of the few on this forum who goes into such detailed explaining openly.

I find it of big value, as your clarification helps me to jump up to higher knowledge level - gives me better understanding of possibilities and strengths of FSB, but also a new working methodology. You have shown the way, and I will try to follow.

Now I can use your description as a frame of thinking. But it will be of great value for me, but probably for others too, if you could share with us one of your EA’s prepared by you to work with LTF and based on M1 time frame. It is even not necessary that this EA should be profitable; I am just looking for connecting your description with a specific EA case. Understanding both theory and practical realization, in form of an EA, will greatly enhance my understanding of your method and will give me better ground to proceed on my own.

Leon

Let's phrase the question in a more appropriate manner.

Can FSB help you make profit?
Yes, according to how profitable your trading theory or EA is.
If you have lousy EA, you make lousy profit via FSB and vise versa.
If you have sound and strong trading theory, you can refine and perfect your trading performance via FSB

Can FSB help me find profitable EA.
You bet. It's definitely much faster than you try on your own manually.

If we actually evaluated what has happened with Forex Strategy Builder over several years.... we would realize that Popov has donated several years of his life to benefitting others.....

I regard Popov as a true professional in life...... he has shared so much knowledge to benefit his following.

Not many in my world have contributed so much.

In my thirty years of experience with markets,with of those who teach and coach,i have not seen anyone so generous as Dr Popov.And i doubt if i ever will.

FSB should be in the Guiness book of Records for being the user friendliest software known to Man:i launched an ea in 6 hours. no it was not profitable,but profitable strategies are few and far.

that said if you are going to search for this elusive animal [profitble ea] there can be no better vehicle than FSB.

All of us should realise this and also that our gain is his loss.

As the French would say Vive Dr Popov [long live.....]

Did those fast trading strategies pass the Multi Marlets ok?

Higher Time frame is equivalent to using longer oscillators or averages, there is no magic in higher time frame. Higher time frame, 3 screen approach was developed for manual traders  who could benefit from vizualizing their charting with three or more different charts. Strategy developers can use  bigger numbers.

I use very small accounts and very small positions..... in case there is bad weather and I will want to live to fight another day. My maximum trade size is 3 per cent of the account available margin.

It is amazing how that amount grows from week to week.

I trade quite a few different markets and pretty well ensure that there is a developed trend if I will enter a trade.

I use the old fashioned approaches, moving averages, donchian, Ichimoku, OSMA, envelopes, LSMA and any other bands like steady bands etc.

I like to ensure that a stop is placed with my order.

I have one Metatrader running a 'Turtle Trader' on 28 pairs on a daily chart. It has some nice results, some huge trends (of course there are a number of small losses). I may add a few CFD's to that, not sure yet.

Thast gives you an idea as to what I use.

Use whatever indicators you are already using and change the parameters or period input here and there.  Change the base price method (Open, High...weighted etc), change the smoothing method etc and see how it would affect the results.  Then start adding more time frames working from descending order.

Eg

1) if you are using now H4 time chart in FSB, use the same file (copy) and then change the H4 to 1min
2) Adjust the smoothing method (smooth, weighted, exponential, simple etc) and the base price method and see how your results change. 
3) Then add other time frames after you have done working on your H4, add in H1 then add in 30min etc and this process will "refine" your result to make your EA enter trade with higher precision and accuracy.

If we actually evaluated what has happened with Forex Strategy Builder over several years.... we would realize that Popov has donated several years of his life to benefitting others.....

I regard Popov as a true professional in life...... he has shared so much knowledge to benefit his following.

Not many in my world have contributed so much.

Very well said Dave, indeed Popov has given his life and time for us.  That's why I feel buying even the Life time membership is really nothing compared to what Popov had given up for us (his time with his family and efforts).  I truly admire Popov, he is a gem

Given others, He could have kept all these to himself yet he shared with the FSB people all these years without even asking them to pay for it...till now finally he deserved at least some form of reward or payment for his work.  I wonder if I were to worked so much for so many years with little financial returns from my project, how long would I be motivated to last any longer?  I wonder where Popov finds his inspiration to go on all these years.  So to those out there who encounter any difficulties or problem, please tone down your complains and express your issue politely with due respect to the FSB team.  Thanks

Keep up the good works, Popov!!!! We are very proud and grateful to you

Masny brokers haver a 5 or 10 minute rule requiring a trade to last for a certain length of time so that they can lay off the trade.....

And if trades are breaking their arbitrary rule, they just close your account and refund your deposit....

That is one reason that I fear a one minute chart.

and the second reason is...... I am too old hahaha  One minute action is too much for me.

That being said, I encourage others to get at it and follow Hannahis lead.

Many have the notion that if you trade in 1min chart, you are using scalping methods.  I tried but not worth the risk and efforts.  I'm looking out for breakouts and hence, D1 and H4 are good LTF period to use.  These trades can last about 3 to 5hrs and hence, would not violate the trading rules.

Advantages of using 1min or 5min chart:

1) 1min or 5min charts are used primarily for it's fast respond time.  I personally prefer the 1min chart
Take a look and examine that MT4 chart.  When the trend breakout, within a min or 2, you would have missed nearly 1000 pips.  If you use 5mins or more, you would kiss goodbye to the opportunity lost.  Because of it's fast respond, my EA comes in exactly when the price kicked into act, Breakout and it is able to exit "appropriately" at the right timing because of the Longer Time Frame features.

2) 1min chart allows you to maximize the "Longer Time Frame" features to the fullest and hence reduce your trade duration, i.e. enter and exit with better accuracy.

The BIG Challenge for using 1min chart...eliminating sideway trending period and "false signal"  and hence the LTF helps in this aspect and also use CCI etc to do the trick but not neccessarily all EA need that.

I regard Popov as a true professional in life...... he has shared so much knowledge to benefit his following.

Not many in my world have contributed so much.