Fratelli Intraday trading system

Hey Gary,

If you followed the rules to the pip u would have made a total of 30 pips loss yesterday. Counted 14 trades all together.

I have download the setup from post#1 and get a strange chart.
Would you please help me ?

owners of the thread seem to be missing

I think that Mickey was going to discuss his back test of this system showing bad results with Peter and they would inform us of their findings. No word since, I am still keeping an eye on this system but no live trading.

me 2! hope they would update the progress so we can start testing again

I´m trying to test your strategy in one demo account, but i cant program it right , can you explain to me how to program the chart an check out what you are talking about

I am still here.

And we have what we for now.

We are still working like beast behind the scenes.

Peter

hello peter!
you are work on a new version ?

thx steve

Just a few words to say thank you for sharing the work you did !!

I have been using/testing both EA and logic itself. Did not ask too many questions so far as most of the answers are listed in the thread (Yep, I read it all). A few comments :

1 - One comment related to some members experiencing losses. Any intraday system relies heavily on decent average average daily ranges. Meaning a minimum of volatility is necessary to generate positive results. When the 3 currencies listed in this thread have decent ADR (above 80 pips to 100 pips) or no crappy ADR (less than 60 pips), this system makes money based on the last 3 weeks and the months of May / June / July trading (not yet done with manual backtest for the remaining months) . By making money, I mean generate the goal of 20 pips/day.

Looking at the ADR per day and the days where the results were negative, it was pretty obvious that any ADR for the EUR/USD of less than 70 pips increased the chance for negative results. For most of my testing, I tested the Euro session (5 hours) , stopping before the lunch break and then trading the US session after the Euro lunch break (3 hours). So these are 2 separate sessions for test purpose. The system may generate positive results even with a 50 pips ADR for a single session but more than half of my losers for a given period were when ADR was below 60 pips or below.
Anytime, the ADR for a single session was above 80 pips, it was very unlikely that the system lose money.
The point of the above is twofold: first , losses are part of trading (the number of losses were still lower than the winners in my testing). Second, most of the losses could have been minimized significantly for anybody looking at the news. Meaning, any trader who would have lowered the size to half the normal size, for example, in the European morning session prior to the release of NFP / trade balance / CPI / quarterly GBP and interest rate decisions would have seen a significant lower number of pips lost. Being based in the US, the news events listed above are based on US news.
Look at what happened last week to have a preview for EUR/USD for example.


2 - Splitting the trading day between Euro session and US session (I define US session from the coming back from lunch of Frankfurt and the end of London) increased the odds at increasing the chances of generating 20 pips a day. I have the chance to have a look at the results of the Euro morning session when it is done (can not trade it live though). When the Euro session gives the 20 pips or more (mostly more), I turn the EA off for the US session.
The reason is that when the Average Daily Range has been achieved (assume 130 pips for EUR/USD) or 80% achieved in the Euro session, the same volatility may not be present in the US session. Many time, we have 80 pips in the Euro session and 50 pips in the US.
When the ADR in the euro session was poor and generating a few losses, I let the EA run for the US session and many, many times, I got back to break even or 20 pips minimum. Not always though.

3 - For purpose of testing, I would believe it would help to have the ADR for the European morning and European afternoon. By looking at the time , we can also have a look at how many losers were generated during the European lunch break.
I can not backtest the EA. All my testing was manual which implies that there may be variances between what you guys find out and mine. This is why once the results are in, just getting the data into a spreadsheet and adding the ADR or the range for a specific trading session would prove useful.

4 - For those who were trading the dreadful 6 months prior to the US election in 2006, market conditions were pretty difficult. For about 5 months prior to the mid term US elections, the ADR of the EUR/USD was much, much lower than what we experienced today with an average around 70 pips a day. Meaning, assume 40 pips average for the European morning and 30 pips average in the afternoon. In such an environment, anybody using the Fratelli logic/EA would have not seen as many winners we did recently. But one could see in the past weeks the EA generating 2 winners of 20 pips each and 2 losers of 10 pips each in a 50 pips ADR.
In such environment, looking at the options offered in the EA, any sensible trader might change parameters of the EA by taking earlier profit for example and be more conservative with the early stop loss. Meaning the EA offers options for bad trading conditions and options for great market conditions.

All the above, to say that in my humble opinion, the system developed and the tools provided to trade it are fairly robust based on my own testing. Because my back (3 months) and forward (3 weeks) testing was mainly manual, I will not post the results to avoid a back and forth potential discrepancies with the results you guys will come back with.
I did my homework and I feel fairly positive about the whole system.
Thank you again.

Thanks for taking the time and sharing your findings with us Whitespire. Please check out page 206, post #3082 by MickeyMouse.

@ Whitespire

Excellent and very useful post!

Can you please elaborate on the Euro = (Frankfort?) lunch break.

Frankfort start 8 am local time?
Frankfort finish 5 pm local time?

Frankfort lunch = 12 to 1 pm? or 1 to 2 pm? or heaven forbid 12 to 2 pm as per the Greeks??

How about London?

This post contained an attached software. Someone gave me the strength and weakness indicator, which is to be attached to Daily chart EUR/USD on Liteforex platform only. Though is not necessary to open an account with Liteforex to use the indicator, it works with Demo, Demo should be okay. It will help if after you know which currency is weak and which one is strong, combined with your strategy before you place trade. All I want someone to do for me is to edit the EA and add ALERT to it. So that when there is new combination of weak and strong pair it should alert. After the added of ALERT it should be attach back here, so that everyone can download it. Also I will appreciate it if someone can find better way(s) of using it. That is my token contribution to this great thread. Thank you all.

I tend to look at 12.00PM Frankfurt time or 5.00AM US central time.

TOday I got up to see 4 losses and 1 win on the EU, EJ, AU at that time. I let the EA on. I got 2 more winners and 1 BE ( prior to important news on days like that, I change the move to BE from 15 to 13 - personal choice ) before the CPI release.

I turned the EA off completely before CPI for a net loss of 1 for the day using a third of my normal size. Will trade manually in the US session, unrelated to the Fratelli EA.

Have a good week-end.

can you please post the EA settings image?

I also try this EA on my live account.

Thanks in adavance

Guys,

Anybody trading live with this EA needs their heads examined. The EA is still under development.

DrJack

Sounds great Charlotte...have you been using the strength indi?...I remember someone else mentioned the Hanover strength indi earlier on in this thread bet he never came back...
I would imagine you probably take a lot less trades but have a better hit rate..?
I'd be very interested to know

T

Yes I have been using it. The only problem I noticed is that, alert is very essential in that software. I have not been successful with it because I normally join late, since nothing to tell me when the weakness and the strength started but if I see someone to add alert to it, I'm sure it will be great. Immediately the alert, I bet it if you join the trend and move your SL to BE after like 10pips, you might never had a loosing trade.

Do you have the .mq4 files? if so, it is easy to add either alert popups or email alerts.

HI...is there anybody out there?....You still around Pete?...awfully quiet here now..

I hope its for Christmas, and action will return in JAN

Happy Trading all!