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Fratelli Intraday trading system

  • #1,621
  • Nov 25, 2011 3:33am Nov 25, 2011 3:33am
i wait of a re entry!
  • #1,622
  • Nov 25, 2011 3:33am Nov 25, 2011 3:33am
today got in 3 trades.

1) EU - bar change color------ -10pips
2) EU - FULL TP-------------- +20pips
3) EY - FULL TP-------------- +20pips

NET-------------------------- +30pips


SIMPLY AWESOME! THANKS PETER!
  • #1,623
  • Nov 25, 2011 3:37am Nov 25, 2011 3:37am
-20 AU
  • #1,624
  • Nov 25, 2011 3:43am Nov 25, 2011 3:43am
Quoting mazingaz
First half hour from Frankfurt open often gives bad signals, glad I am still in dreamland at that time...
Personally I have also found that entries above/below candles high/low are safer than taking the candle close, it actually makes also more sense... you would enter a bit later but that would save you from fake breakouts.

It is not part of the system rules at present , I also use high/low breakouts as an entry trigger. Part of the possible system enhancement and improvements would be to take a critical look at optimum trading times and entry methods. It is being done at present
" Never let the past hold the future to ransom "
  • #1,625
  • Nov 25, 2011 3:54am Nov 25, 2011 3:54am
Quoting Gleneagles
It is not part of the system rules at present , I also use high/low breakouts as an entry trigger. Part of the possible system enhancement and improvements would be to take a critical look at optimum trading times and entry methods. It is being done at present
glad to hear it is being looked into, obviously this is my observation from only 1 week of forward testing this method... To anyone else please stick to the system as it is until Peter says otherwise!
  • #1,626
  • Nov 25, 2011 3:57am Nov 25, 2011 3:57am
Quoting mazingaz
glad to hear it is being looked into, obviously this is my observation from only 1 week of forward testing this method... To anyone else please stick to the system as it is until Peter says otherwise!
this is my second week of forward testing with Peter

currently as of now the forward test is up around +150 pips
thats 7 days of trading, last thurs to today

Peters aim is the system to average 20 pips per day

150 pips divided by 7 days trading = 21.42 pips average per day
  • #1,627
  • Nov 25, 2011 3:59am Nov 25, 2011 3:59am
i think we can make 30 pips on the day with this system.
Quoting deankenny21
this is my second week of forward testing with Peter

currently as of now the forward test is up around +150 pips
thats 7 days of trading, last thurs to today

Peters aim is the system to average 20 pips per day

150 pips divided by 7 days trading = 21.42 pips average per day
  • #1,628
  • Nov 25, 2011 4:01am Nov 25, 2011 4:01am
Quoting stevebalmmer
i think we can make 30 pips on the day with this system.
Problem is, if you fiddle with something too much you can end up making it worse, if this can make average 20 pips per day, after taking in all the bad days like we have this week, then 20 pips per day is enough to make you rich.
  • #1,629
  • Nov 25, 2011 4:04am Nov 25, 2011 4:04am
Quoting deankenny21
Problem is, if you fiddle with something too much you can end up making it worse, if this can make average 20 pips per day, after taking in all the bad days like we have this week, then 20 pips per day is enough to make you rich.
yea, agree! the whole thing is to achieve consistency in making 20pips.. and analysing the drawdown.. if DD is small, one can play with the lotsize. We don't have to make 100pips per day to make money!
  • #1,630
  • Nov 25, 2011 4:07am Nov 25, 2011 4:07am
Quoting wilsonch
yea, agree! the whole thing is to achieve consistency in making 20pips.. and analysing the drawdown.. if DD is small, one can play with the lotsize. We don't have to make 100pips per day to make money!
you shouldnt even be thinking 100 pips, and u shouldnt even need to mention lotsize.

If you are not trading by lotsize % vs balandce then you need to go back to the drawing board.

Same thing with DD, u dont need to mention it, the worse case scenario is -65 pips on all three pairs open trades. If you know your % vs risk vs balance then -65 pips shouldnt even bother you
  • #1,631
  • Nov 25, 2011 4:08am Nov 25, 2011 4:08am
Quoting MickyMouse
good morning everybody .... woke up way way to late :d


so Blackeagle , can you please post a screenshoot with the 2 losses you took on AU this morning ?
Red arrows show short and long loser trades.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.gif Size: 20 KB
  • #1,632
  • Nov 25, 2011 4:10am Nov 25, 2011 4:10am
Quoting deankenny21
Problem is, if you fiddle with something too much you can end up making it worse, if this can make average 20 pips per day, after taking in all the bad days like we have this week, then 20 pips per day is enough to make you rich.
The system is still a work in progress and nothing is set in stone. Obviously any proposed changes to the improve the strategy must be tested properly over a period of time to make sure that it represents a valid period and is not a "curvefitting " exercise.

The average trading range of EU for example is around 140 pips at present.

If your target is 20 pips/day...great stuff.

If you can achieve 30 pips/day with a better hitrate , less losers, same risk, why not? I would take 50% increase in my monthly earnings any day for the same risk or less
" Never let the past hold the future to ransom "
  • #1,633
  • Nov 25, 2011 4:11am Nov 25, 2011 4:11am
Hi Dean,

Could you please revi ew the Post #1583 and update me. I see few of them having some issue understanding the new exit rule. Please correct me if i am wrong.

--Netwatchpips
  • #1,634
  • Nov 25, 2011 4:11am Nov 25, 2011 4:11am
yes all the bad days, we have this week , are 20 pips enough.It is better then lost pips.
Quoting deankenny21
Problem is, if you fiddle with something too much you can end up making it worse, if this can make average 20 pips per day, after taking in all the bad days like we have this week, then 20 pips per day is enough to make you rich.
  • #1,635
  • Nov 25, 2011 4:14am Nov 25, 2011 4:14am
Quoting netwatchpips
Hi Peter/Dean,

I know you both are masters on this system. Just for reference to others new in the thread, can you confirm the below rules...

New Exit Rule:
For Long Trades – Exit when the candle colour changes from green to red on the candle close.

For Short Trades - Exit when the candle colour changes from red to green on the candle close.

[b][u]Pending Order Invalid (Not in PDF,i found on the Peter's...
as you posted this, the answer was only just discusses maybe 1 page or 2 pages back.

Even better check the pdf with proper rules.
It does mention the colour change on candle
nowhere does it mention anything about exiting on a arrow.
  • #1,636
  • Nov 25, 2011 4:19am Nov 25, 2011 4:19am
Quoting wilsonch
yea, agree! the whole thing is to achieve consistency in making 20pips.. and analysing the drawdown.. if DD is small, one can play with the lotsize. We don't have to make 100pips per day to make money!
You can compound consistency. You can compound without increasing your risk by keeping your MM as a fixed %.

What you cannot compound without risk is a system with unacceptable drawdowns. It is not only bad for your equity curve but will place a lot of additional stress on you whilst trading.

I would take an average , consistent system anyday over a system that is ocassionally brilliant but with nasty drawdowns in the process.

You are right....you can compound a consistent system to a level that will outperform a system that produce 100 pips/day in no time at all , if traded with discipline and with a proper MM plan.
" Never let the past hold the future to ransom "
  • #1,637
  • Nov 25, 2011 4:21am Nov 25, 2011 4:21am
Quoting fratelli
My PO in EU canseled I got uparrow now.

Peter
Hi Dean,

Refer the above post from Peter. He mentioned to cancel PO on reverse Arrow. Yes as you said it is not on PDF. My apologies for misunderstanding.

--Netwatchpips
  • #1,638
  • Nov 25, 2011 4:22am Nov 25, 2011 4:22am
Quoting netwatchpips
Hi Dean,

Refer the above post from Peter. He mentioned to cancel PO on reverse Arrow. Yes as you said it is not on PDF. My apologies for misunderstanding.

--Netwatchpips
PO = pending order !!!

this is NOT an active trade
  • #1,639
  • Nov 25, 2011 4:26am Nov 25, 2011 4:26am
Quoting Blackeagle
Red arrows show short and long loser trades.
Blackeagle, ur chart have no MACD_colored indicator? I filter most of the bad signal using that.. Its in the indicator pack as posted in page 1.
  • #1,640
  • Nov 25, 2011 4:27am Nov 25, 2011 4:27am
Quoting deankenny21
PO = pending order !!!

this is NOT an active trade
Yes dean PO=Pending order that's what i mentioned in my post l#1583. Refer below....

Hi Peter/Dean,

I know you both are masters on this system. Just for reference to others new in the thread, can you confirm the below rules...

New Exit Rule:
For Long Trades – Exit when the candle colour changes from green to red on the candle close.

For Short Trades - Exit when the candle colour changes from red to green on the candle close.

Pending Order Invalid (Not in PDF,i found on the Peter's post) :

For Long Trade: Cancel the pending order when you get white arrow pointing down

For Short Trade: Cancel the pending order when you get white arrow pointing up

--Netwatchpips
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