The Daily Fozzy Method

The template is in the thread. You can read the posts and/or search the attachments and find it.

You will have to test the currency pairs that interest you and then decide which ones to trade. Only then can you have confidence in the method and the pairs to trade.

IMO Fozzy is still working. Look at my charts. I have AOFozzy Singal All, and AOFozzy signal BT. I also use stochastics.
As you see AOFozzy Singnal All generates better signal for me.
The discretionary part to it is adding some simple filters. On my chart there are some averages (13 EMA, 120SMA, 200SMA), this way I skip some entries. The shortest filter is 13 ema.
Another part is to move S to B/E as soon as reasonably possible, and give half of the trade some space to trail. This way we can catch good trends.
See the arrows on my chart - those with crosses under were loosers. Others we into profit or just b/e.

I feel Fozzy RSI is a good system that generates signals mechanically, the trader's job to is to distinguish which ones to take, disregard others.
Not that difficult after couple of years of charting.

Where is the trend? Up? Down? Ranging? Even in range we could take signals if they come at the tops or bottoms of the range.
What are stochastics telling me? Does the price lines up for what looks like just another correction (don't trade these) or does it curve and rolls into what could possibly be a new trend or at least strong pullback - tradeable one.

It is still very robust indicator.

PaulZW,

Thanks for the informative post. I'm curious if you are still trading The Daily Fozzy Method and if you are pleased with your results. I exploring to find a daily trend trading system that, after some serious screen time, will yield at least 60% wins and risk/reward ratio of 1:2 or better.

Hope you are doing well in your trading.

John

You are alive!!!

And well.......thank you!

It's a shame this thread died out. There was a lot of good info here along with a simple, effective trading method.

Plus, I'd like to know what happened to Fozzy.

I agree that this is a simple, effective way of trading. But there are better, more profitable ways to trade. Some of us have moved on to those.

.
Hi BB. How's it hangin'?

I assume you mean your MAX system.

You are correct!

Yes , it's a shame

I was a fozzy method lover,but there is more to explore about Price Action to become profitable in this market.
I'm not saying this to you or BeachBum
this post is more for NEWBIES