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The Daily Fozzy Method

  • #261
  • Sep 28, 2006 5:45pm Sep 28, 2006 5:45pm
Quoting smjones
I use the exact same setup that Fozzy uses. In fact in one of my posts earlier I uploaded athe indicator.

Looks like this

thx mr scott...
so u actually use the very basic of fozzy's...
im an amatuer so forgive my "newbie"ness...
sometime i dont understand your simple word...

gbpchf
eurgbp
gbpusd
usdjpy
usdchf

those are my trade now and produce +280 pips...
and its pretty good for the amatuer...
thx to fozzy and mr scott
"Analysis Is Hard But Trade Is Easy"
  • #262
  • Sep 28, 2006 6:05pm Sep 28, 2006 6:05pm
Hi Stockwet,

There is an excellent post about improving the backtesting quality of EAs in MT4. Check it out:

http://www.forexfactory.com/forexfor...ead.php?t=7637

BTW, can I have a copy of the EA code?

aha




Quoting stockwet
Ha ha! No way. I don't know anything about strategy tester. I just plug in the expert and press buttons and hope it turns out OK!

Any other strategy tester experts in the house?

Since I'm so ignorant of how this works, that's why I compared the trades in the report with what I could see on the chart. I only saw a couple discrepencies (where the MA line was negligibly above or below the BB line). So, that's why I thought the model was pretty good.
Target: Trading naked.
  • #263
  • Sep 28, 2006 6:07pm Sep 28, 2006 6:07pm
oops, art is quicker than me.



Quoting ART_1_
hi guys

i have just finished reading through this thread. great system Fozzy

i will post some links about strategy tester.

the modeling quality should be 90% how you get it you can read in this nice thread

http://www.forexfactory.com/forexfor...ead.php?t=6002

here some other links:

historical data:

http://www.alpari-idc.com/en/dc/databank.php

some facts to 1min data:

http://articles.mql4.com/93

and last 2 guides from the metatrader.info page

http://www.metatrader.info/node/66
http://www.metatrader.info/node/67

hope this helps
Target: Trading naked.
  • #264
  • Sep 28, 2006 6:10pm Sep 28, 2006 6:10pm
Well again, I take no credit, this is Fozzy's method, he is the man.. I raise my beer to him.
thanks Scott


Quoting Se[V]eN
thx mr scott...
so u actually use the very basic of fozzy's...
im an amatuer so forgive my "newbie"ness...
sometime i dont understand your simple word...

gbpchf
eurgbp
gbpusd
usdjpy
usdchf

those are my trade now and produce +280 pips...
and its pretty good for the amatuer...
thx to fozzy and mr scott
  • #265
  • Sep 28, 2006 6:11pm Sep 28, 2006 6:11pm
Thanks aha and art, I think I understand. Scott



Quoting aha
Hi Stockwet,

There is an excellent post about improving the backtesting quality of EAs in MT4. Check it out:

http://www.forexfactory.com/forexfor...ead.php?t=7637

BTW, can I have a copy of the EA code?

aha
  • #266
  • Sep 28, 2006 6:23pm Sep 28, 2006 6:23pm
Fozzy, Have a good holiday! 2 weeks time I will almost be finished with all the stuff that is keeping me busy out of my mind! A week or two after you get back ill send you through some of my results I come up with.

Beachbum,

I have got to agree! Simplicity in big charts are working well for me! This method is simple, and takes very little time to impliment. You say you use Oanda, but you use MT4? I didn't think Oanda used the MT4 Platform?
Plus I can't find any trailing stops with their platform either... how do you impliment this system with out these?

I find on the GBPUSD the profits are great... but you can get stopped out easily using anything less then 80 pip stop.

I will look at the average true range and see how it all goes... i'll let you know.

Gold Coast ay! Hope you have fun there... you going for a surf? I'm heading there around the same time, but our trip is 100% depending on the wind... we will be waiting for some good wind then will fly down there for 3 days for a good few days of riding! hope you get some swell come through if you go surfin!




Quoting BeachBum
fozzy................you are the man, I like the way you think, one of the reasons I got involved with this thread in the first place. Big charts and simple methods.

I will be in the Gold Coast area in early December and wish you lived closer. Dinner (and a few beers) would be my treat!

Cheers.....have a great holiday, we'll keep the "fozzy" method alive and well while you are away!
Ride it like you stole it! Life begins at 25 Knots!
  • #267
  • Sep 28, 2006 8:21pm Sep 28, 2006 8:21pm
Quoting smjones
I spent this morning doing an actual manual forward test starting from 1/1/2006 on EURUSD, paging thru each day using F12. Here are the results. I used a 50 pip Trailing Stop for the TP and also as the BE Stop
I used the previous day High or Low as the initial stop loss.

Total trades 28
Wins 18
Pips won 2347
Avg Win 130
Losses 4
Pips Lost -358
Avg Loss -89
BreakEvens 6


Totals
Net Pips 1989
(percentages are based on number of trades, not on pips earned)
Winning % 64%
Losing % 14%
BreakEvens % 22%

Consecutive wins 8
Consecutive Losses 2
Consecutive BE 1
I'm a little confused on the SL methodology you used. I understand You start with the previous day's H/L as the initial SL. Are you then using a 50 pip trailing stop if the trade goes favorably by at least 50 pips?
Hi, my name is Barry and you can keep your doctor...
  • #268
  • Sep 28, 2006 9:02pm Sep 28, 2006 9:02pm
Yes, that is what I did.



Quoting cisco
I'm a little confused on the SL methodology you used. I understand You start with the previous day's H/L as the initial SL. Are you then using a 50 pip trailing stop if the trade goes favorably by at least 50 pips?
  • #269
  • Sep 28, 2006 10:51pm Sep 28, 2006 10:51pm
Have a safe and wonderful vacation time with your family Fozzy.

Best wishes,
Thom
  • #270
  • Sep 29, 2006 12:14am Sep 29, 2006 12:14am
Cisco,

I came up with very similar results when I tested this, I used the 50 pip trailing stop also. Very close to exact results. I am looking at trying to gain from both the large moves as well as the small ones without losing the small gains. I am looking at having two lots, having on profit target for the first lot at the ATR for the breakout day, then having a trailing stop of either that or 75% of this amount on the first lot, but having at profit target for this lots either being 2 or 3 times ATR (of the crossover day). This was something I haven't tested yet, and unfortunately won't have the time due to my other commitments over the next 3 - 4 weeks. But if anyone has a spare chance and wants to have a look into it i would be very interested in the results!

Cheers all! Have a great weekend!


Quoting cisco
I'm a little confused on the SL methodology you used. I understand You start with the previous day's H/L as the initial SL. Are you then using a 50 pip trailing stop if the trade goes favorably by at least 50 pips?
Ride it like you stole it! Life begins at 25 Knots!
  • #271
  • Sep 29, 2006 7:17am Sep 29, 2006 7:17am
Quoting smjones
Yes, that is what I did.
Thank you. I was wondering if there would be much difference in the final results of your test if a SMA was used versus an EMA.

Cisco
Hi, my name is Barry and you can keep your doctor...
  • #272
  • Sep 29, 2006 7:22am Sep 29, 2006 7:22am
Quoting HighAsAKite
Cisco,

I came up with very similar results when I tested this, I used the 50 pip trailing stop also. Very close to exact results. I am looking at trying to gain from both the large moves as well as the small ones without losing the small gains. I am looking at having two lots, having on profit target for the first lot at the ATR for the breakout day, then having a trailing stop of either that or 75% of this amount on the first lot, but having at profit target for this lots either being 2 or 3 times ATR (of the crossover day). This was something I haven't tested yet, and unfortunately won't have the time due to my other commitments over the next 3 - 4 weeks. But if anyone has a spare chance and wants to have a look into it i would be very interested in the results!

Cheers all! Have a great weekend!
For the time being I'm going to trade 2 lots. I'll close one out at a 50 pip gain and let the second lot run with a 50 pip trailing stop and see how that works. I'm sure there are better ways to do it, I just don't have a way to try it yet.
Hi, my name is Barry and you can keep your doctor...
  • #273
  • Sep 29, 2006 9:17am Sep 29, 2006 9:17am
I have to say that this method is the best and simplest for full time worker. However, I don't quite follow the rules of the system quite exactly. I basically buy and sell whenever the RSI crosses it's 8 day moving average. I don't pay attention whether or not the cross happens below or above the 20 period mva (I don't even put in on my chart). I just don't see the point of having the 20 mva there

However, I do set my target profit using fibs for the past month or less. I would then see what the price has done at the various fib levels. Then I set my target profit at a level where consolidation occur the most. Sometimes this could mean at the single fib line, but sometimes, I set it between two fib lines if the consolidation period has high range. Since I use Oanda, I don't have the ability to trail stop like fozzy does, so the fib target limit is the next best thing. And I use my stop loss as fozzy does, the low or high of previous candle. If however, the previous candle has a shaven bottom or top, I use the previous consolidation low or high, or fib level for stop loss. And as always, i only use 2% rule for every single trade.

Believe me when I say this, I lost close to $100 dollars until the 25th of September. Until recently, I won $75 back in just 3 days (3 trades so far). I think that this method is quite powerful.
  • #274
  • Sep 29, 2006 9:22am Sep 29, 2006 9:22am
I am also wondering if using ema or linear weighted average would let you in trades much faster. I would experiment with it in the next 9 months (3 months with sma, ema and lwma)
  • #275
  • Sep 29, 2006 9:44am Sep 29, 2006 9:44am
I posted the most recent version of the Fozzy EA:

http://www.forexfactory.com/forexfor...ead.php?t=8527

Please use that thread for discussion of the EA and this one for discussion of the method.
  • #276
  • Sep 29, 2006 9:52am Sep 29, 2006 9:52am
I would doubt there would be much difference, because of the larger time frame, but I did not test that hypothesis.



Quoting cisco
Thank you. I was wondering if there would be much difference in the final results of your test if a SMA was used versus an EMA.

Cisco
  • #277
  • Sep 29, 2006 9:56am Sep 29, 2006 9:56am
I like the idea of using ATR as a guide to where to place a stop loss, I personally have a problem putting such large stop losses that sometimes come up using the previous day's high or low, but maybe that's just a mental thing i need to get over. Either way, it seems too "simple" and sometimes gives you such a large gap that it just doesn't make sense.

Quoting HighAsAKite
Cisco,

I came up with very similar results when I tested this, I used the 50 pip trailing stop also. Very close to exact results. I am looking at trying to gain from both the large moves as well as the small ones without losing the small gains. I am looking at having two lots, having on profit target for the first lot at the ATR for the breakout day, then having a trailing stop of either that or 75% of this amount on the first lot, but having at profit target for this lots either being 2 or 3 times ATR (of the crossover day). This was something I haven't tested yet, and unfortunately won't have the time due to my other commitments over the next 3 - 4 weeks. But if anyone has a spare chance and wants to have a look into it i would be very interested in the results!

Cheers all! Have a great weekend!
So far so good.
  • #278
  • Sep 29, 2006 10:00am Sep 29, 2006 10:00am
Well done stockwet & tradeigel............thank you very much!



Quoting stockwet
I posted the most recent version of the Fozzy EA:

http://www.forexfactory.com/forexfor...ead.php?t=8527

Please use that thread for discussion of the EA and this one for discussion of the method.
  • #279
  • Sep 29, 2006 10:01am Sep 29, 2006 10:01am
I have been experimenting with using the ATR as a basis for fixing the S/L and will post a few observations about this over the weekend as well as my trade journal for the week.



Quoting paul2
I like the idea of using ATR as a guide to where to place a stop loss, I personally have a problem putting such large stop losses that sometimes come up using the previous day's high or low, but maybe that's just a mental thing i need to get over. Either way, it seems too "simple" and sometimes gives you such a large gap that it just doesn't make sense.
  • #280
  • Sep 29, 2006 10:21am Sep 29, 2006 10:21am
Hi High............

Oanda is my trading broker but I use the MT4 platform from several brokers on a demo account including FXDD and IBFX depending on what time I want a new "Daily" candle. (I explained this in a previous post)

You're right about stops on the gbp/usd. Same with some others like gbp/jpy, one of my favorites. I'll have some comments this weekend about the ATR and stops. Cheers!

Quoting HighAsAKite

Beachbum,

I have got to agree! Simplicity in big charts are working well for me! This method is simple, and takes very little time to impliment. You say you use Oanda, but you use MT4? I didn't think Oanda used the MT4 Platform?
Plus I can't find any trailing stops with their platform either... how do you impliment this system with out these?

I find on the GBPUSD the profits are great... but you can get stopped out easily using anything less then 80 pip stop.

I will look at the average true range and see how it all goes... i'll let you know.
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