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Attachments: Frankfort Breakout EA
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Frankfort Breakout EA

  • #21
  • Jan 13, 2014 11:36am Jan 13, 2014 11:36am
Quoting PIP Combine
After doing some homework on the Monday after NFP, there is usually continuation in the same direction. Enclosed is the EU chart from December and GU chart from November. So, on Monday I am going to trade the system with a bias for continuation, then on Tuesday back to normal operation. I included a chart of the AU from Friday. In this case not planning to fight the Friday momentum. If we get a break long, we will take that trade. If we get a break short, we will pass on that trade. We will see how it turns out from the day and if any significance...
This methodology worked out well today on most pairs and we had a nice follow through from NFP. The GU and EU broke the opposite way and passed on those trades. If they would have been taken with the system, would have been winners as well from the breakout. A couple charts to show this follow through from GA and EJ.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EJ Post NFP 1-13-14.jpg Size: 127 KB
Click to Enlarge Name: GA Post NFP 1-13-14.jpg Size: 125 KB
  • #22
  • Jan 13, 2014 11:45am Jan 13, 2014 11:45am
Occasionally, I will bail out of a trade early when I see red flags. Enclosed is the AU, which today I closed early, even though the price remained above the breakout point. This pattern usually begins a pull back, so in this case back to point 1. Since target was not hit, decided to take some profit and move on to next session.
Attached Image (click to enlarge)
Click to Enlarge Name: AU Exit Example 1-13-14.jpg Size: 148 KB
  • #23
  • Jan 14, 2014 6:15pm Jan 14, 2014 6:15pm
I have begun evaluation of best days to trade. A chart is enclosed from first week and a half. Very clean Monday and Tuesday this week, especially the GBP crosses - hope that continues the rest of the week. I will post a few charts to show this and a nice expansion on ATR as well. A bias I have for the system is typically Monday and Tuesday were choppy, while later in the week provided better moves with consistency. Hopefully after a couple months of data, a conclusion can be made on better days than others.
Attached Image (click to enlarge)
Click to Enlarge Name: Winners Vs Losers By Day 1-14-14.jpg Size: 27 KB
  • #24
  • Jan 14, 2014 7:06pm Jan 14, 2014 7:06pm
GA and GCHF charts. Today, the GBP crosses were breaking immediately and moving to target by 10AM (5AM NY time). These are ideal to be out prior to NY.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GA Frankfurt Trades 1-14-14.jpg Size: 128 KB
Click to Enlarge Name: GCHF Frankfurt Trades 1-14-14.jpg Size: 131 KB
  • #25
  • Jan 14, 2014 7:16pm Jan 14, 2014 7:16pm
The EJ take a little longer to break and reach target, however best performer so far.
Attached Image (click to enlarge)
Click to Enlarge Name: EJ Frankfurt Trades 1-14-14.jpg Size: 139 KB
  • #26
  • Jan 17, 2014 6:58pm Jan 17, 2014 6:58pm
I have been out a few days, but managed to keep up the trading. As I mentioned earlier we had a real smooth Monday and Tuesday, but last part of the week the GBP was choppy. However, with some ranging and choppy trading, still managed to keep even or a little profit. A couple good examples on the GU. Retest of the prior days range usually provides good support or resistance. Although we use an hourly close for a stop loss, still a good idea to have an emergency hard stop for days like today. Out of that move was in 5 GBP trades and 3 were stopped and 2 hit target. Although we were on the wrong side of some of these, volatility is still good. Glad to have movement vs. sideways. Will post a few more items about results and data we are collecting.
Attached Image (click to enlarge)
Click to Enlarge Name: GU Frankfurt Trades 1-17-14.jpg Size: 164 KB
  • #27
  • Jan 17, 2014 7:04pm Jan 17, 2014 7:04pm
Percentages by Day: Monday - 63%, Tuesday - 56%, Wednesday - 59%, Thursday - 76%, Friday - 70%
Attached Image (click to enlarge)
Click to Enlarge Name: Winners Vs Losers By Day 1-17-14.jpg Size: 26 KB
  • #28
  • Jan 17, 2014 7:13pm Jan 17, 2014 7:13pm
EJ was 5 for 5 for the week. These are ideal trades - break the range and to target.
Attached Image (click to enlarge)
Click to Enlarge Name: EJ Frankfurt Trades 1-17-14.jpg Size: 144 KB
  • #29
  • Jan 19, 2014 1:30am Jan 19, 2014 1:30am
This system might work well combined with inside bar breakouts.

The third post in this thread with the GBP/JPY illustrates perfectly what I'm talking about.

If you notice on that big +240 pip decline on Jan 2nd, the trade was setup by an inside bar breakout.

Then when it punched through the frankfurt low, the trade was on like donkey kong.
  • #30
  • Jan 20, 2014 10:25am Jan 20, 2014 10:25am
Guys, here is my little contribution an breakout indicator, setup to my broker +2 FXDD.
Attached File(s)
File Type: mq4 BreakOut_indicator.mq4   7 KB | 854 downloads
  • #31
  • Jan 21, 2014 5:48am Jan 21, 2014 5:48am
Quoting Jason W
This system might work well combined with inside bar breakouts.
Jason, thanks for your comment and observation. I like the idea and starting thinking about it with the charts. This Asian high or low could be one of the areas which creates the choppy trading and we could filter out. Today I looked at the EJ and it presented this scenario. Enclosed is a chart showing this and so far have not taken the trade until the Frankfort and Asian high is taken out.
Attached Image (click to enlarge)
Click to Enlarge Name: EJ Asian High Example 1-21-14.jpg Size: 144 KB
  • #32
  • Jan 21, 2014 8:23pm Jan 21, 2014 8:23pm
Quoting altoronto
Guys, here is my little contribution an breakout indicator, setup to my broker +2 FXDD. {file}
Altoronto, thanks for the post and indicator. We will give it a run...

GW
  • #33
  • Jan 21, 2014 9:02pm Jan 21, 2014 9:02pm
This is completely off topic of the Frankfurt system, but love this set up, if you like longer term trades. On my long term account, in at 1.5395 and hoping pattern will reach T1.
Attached Image (click to enlarge)
Click to Enlarge Name: EA 1-21-14.jpg Size: 154 KB
  • #34
  • Jan 23, 2014 7:05pm Jan 23, 2014 7:05pm
Major turn for the EA and took out my position at breakeven. However, it is back up and tested the trendline for a 4th time and stalled. Will trade the Frankfurt break tomorrow and looking for a move down to the lower part of the channel. A break of the channel and perhaps a corrective move might be in order.
Attached Image (click to enlarge)
Click to Enlarge Name: EA 1-23-14.jpg Size: 143 KB
  • #35
  • Jan 23, 2014 7:52pm Jan 23, 2014 7:52pm
Attached Image


Using all of these together provides some great intraday support and resistance and potential price targets.
  • #36
  • Jan 24, 2014 4:18am Jan 24, 2014 4:18am
Wow , intresting! Hey pip .. congrats !
After a couple of week your life result looks fine!
Of course itīs too early to say incredible .. but the graph looks fine and intresting ..
I keep an eye on this thread ..
Wish you amazing success with it !
Risiko birgt immer auch die Chance.
  • #37
  • Jan 26, 2014 6:10am Jan 26, 2014 6:10am
What do you mean by % of ATR? Example 70% of ATR means 0.70 x current breakout ATR value 0.013 = 91 pips TP ?

I think it is better to use MA in ATR. See the screenshot here. ATR line break MA = Exit because of price is going to reverse (ATR value drop)
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.jpg Size: 152 KB
  • #38
  • Jan 26, 2014 6:37am Jan 26, 2014 6:37am
Nice idea to use MA from ATR. But I am not sure to use it for exit.
Attached Image
  • #39
  • Jan 27, 2014 4:29pm Jan 27, 2014 4:29pm
Quoting Sesamstrasse
Wow , intresting! Hey pip .. congrats ! After a couple of week your life result looks fine! Of course itīs too early to say incredible .. but the graph looks fine and intresting .. I keep an eye on this thread .. Wish you amazing success with it !
Sesamstrasse, Thanks. Agree it is early in the game, but a nice start. If we can have a few months of profit, we might have something. Some good suggestions helping to refine it too. Hope all is well in Frankfurt...

GW
  • #40
  • Jan 27, 2014 4:39pm Jan 27, 2014 4:39pm
Quoting ~bull.bear~
What do you mean by % of ATR? Example 70% of ATR means 0.70 x current breakout ATR value 0.013 = 91 pips TP ? I think it is better to use MA in ATR. See the screenshot here. ATR line break MA = Exit because of price is going to reverse (ATR value drop) {image}
Bull.bear, % of ATR is if the 30 Day ATR is 100 pips, then 50% would be a TP of 50 pips or in your 70% example it would be 70 pips.

Couple questions. Why do you believe it is better to use the MA cross vs. a % of ATR? Can you provide some more examples and the difference between the two in terms of TP? Also, are you just referring to the exit or entry as well?

Thanks for the comment and chart...
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