Quoting Gee SevenDislikedIf it was too easy everyone would make money, not just us 10% people.Ignored
Mr. Trend
The 4 Hour Fozzy Method 233 replies
FOZZY Method CROSSES 808 replies
Fozzy Alt... one more approach to the Daily Fozzy Method 40 replies
My Daily Fozzy Trades 337 replies
Monthly Fozzy Method 9 replies
Quoting Gee SevenDislikedIf it was too easy everyone would make money, not just us 10% people.Ignored
Quoting Gee SevenDislikedI looked at the signals you referred to. Maybe my take will help some. First I like to run Keltner Channels on my charts. When price is high out of the KC it will return. Coordinating that with your other indicators will keep you in sync.That said, look at 12-5, I traded it during that day but the following day would have been a good signal too.Trade held for 3 days and ended at the bottom KC band. Now the signal you took on the 13th was on the exact bounce off the .618 fib retrace of that 12-5 down signal. If it's a new down trend the .618 is key reversal spot to continue the trend.Watch those Fibs especially the .618. On the 20th, that signal day ended at the top Keltner Channel. For me I've got to watch for a continuation. Looking at that day, it had a straight run from post to post. No tail on the candle, an example of "too much too soon". An addage I learned from an S&P trader several years ago.When a bar covers that much ground in a short time, look for a pull back even if it's temporary. The following bar(s) will often go against the strong one for a small amount. AMOF, it retraced and bounced off the .618 (the Fib of that day) today according to my chart. We may see the continuation now.That was a 240 pip day, a "run" of 319 pips if you count the low and high of the adjacent bars.
I also run a 5-3-3 Stochastic. Look at it and you can see how it's crossover is a strong indicator that needs confirmation from the Fozzy to enter a trade.Finally, before you enter your trade switch over to the one hour time frame and trade from a signal on it that goes the way you are trading the daily. It can give you a head start in the right direction.
All things considered there will be misses and losses. It's part of the business. If it was too easy everyone would make money, not just us 10% people.Ignored
Quoting Mr TrendDislikedWhat business are you in??? It's more like 3-5%...Ignored
Quoting poekmeisterDislikedGee Seven, what period/settings are you using on for the KC?
PoekmeisterIgnored
Quoting SquidDislikedFirst off, let me say I don't mean in any way to put down the Fozzy method (just in case some interpret it that way). I am grateful to Fozzy for putting it up and to others for refining it and adding so much info.
I'm wondering if I'm the only one here not making money on this method? I have followed it for about a month now in demo and had loss after loss. OK, there's probably something I'm not trading quite right, but I've gone over the posts here carefully. I've tried the approach fozzy originally laid out and then tried the approach that BeachBum (love that nick!) uses so successfully. But I still rack up loss after loss.
The one thing that I am doing differently is that I cannot put orders in right at the open of a new day. I have to put them in about 6-7 p.m. Mountain time because of my job. Could this little variation make such a difference in my results?
I notice that very often the trade goes my direction during the evening and then reverses and goes sharply against me prior to the NY open.
Looking for advice here because I would dearly love to make this method work for me. It seems the most promising one I've found so far for those of us that have day jobs.
SquidIgnored
Quoting fozzyDislikedHi Merlin,
I would be honoured. Many thanks.
FozzyIgnored
Quoting bfsDislikedFozzy,
Read your earlier posts (September) and had to tell you about my love of Bollinger Bands; for me, the “Bollingers” are a (not the) major secondary indicator. In my “method,” I use both the Bollinger Band Width and the Bollinger Percent B. Once you fully understand the beauty of the “Bollingers” and their function as LEADING indicators, you, too, will use them religiously [both are: close, 20, 2].
The BBW (Bollinger Band Width), which I standardized into a linear, non-log 0-100 scale (historic 120-bar) line tells me (confirms) THE ONLY TIME I AM EVER TO ENTER INTO A TRADE. This is on the dips, which should be optimally under .10, but, can, and will, be (much) higher depending on the selected chart’s bar period. The BBW is nothing more than an easy to read graphic rendition of the Bollinger envelopes. The dip is the set-up; the rise is the trigger. To clarify (when I say dip), the entry is (on or after) the RISE after (following) the DIP. (For me, I like displaying this as a “step” line, not a point-to-point line; I feel the accuracy is coloured, tainted and skewed by a point-to-point line.) I enter only on (at) the BBW dips (if my other indicators are in concert); once in a position – I don’t care where the BBW goes. After observing the BBW, you will see it is (can often be) an exit trade management tool. NOTE: THE DIP WILL INDICATE BOTH (EITHER) A LONG OR A SHORT POSITION ENTRY. If you use moving averages as one of your entry indicators, by adding the BBW to your arsenal, you will (if you obey the rules and your other secondary indicators agree) increase your “strength of entry direction accuracy” by 1,000 percent.
The Bollinger Percent B (%b) is very similar to what is referred to as the “moving average wave clock (PIP) angle.” Used as a histogram (base 50), it quite often leads the BBW’s dip. For me, the %b is the best strength (weakness) indicator other than volume or open interest – and, of course, in the world of forex we don’t have volume or open interest as other markets do – so I use the %b to fill that vacuum.
Happy PIPing. Hope this helps you out.
/s/ bfs
Ignored
Quoting jlowderDislikedHello,
Could you please post the indicators you are using and perhaps a screen shot as an example?
Thanks.
JasonIgnored
Quoting jlowderDislikedHello,
Could you please post the indicators you are using and perhaps a screen shot as an example?
Thanks.
JasonIgnored
Quoting JetheatDislikedI must admit, I haven't read this whole thread but can ssomeone point me to a page where I can read the latest updated rules on this system?
I'm not looking for EAs; I just want the system rules.
Thanks,
JHIgnored