The Daily Fozzy Method | Page 16 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

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

Attachments: The Daily Fozzy Method
Exit Attachments

The Daily Fozzy Method

  • #301
  • Oct 2, 2006 5:16pm Oct 2, 2006 5:16pm
Quoting cisco
I have 9 charts that I'm monitoring. So far today there's 8 fresh crosses. I don't know if they'll still be there at 5 p.m. when I get a new candle, but right now it looks like a very busy day for the "Fozzy."
Pairs Worth Watching:

USD/JPY
GBP/CHF
GBP/JPY
GBP/USD
NZD/USD
NZD/JPY
AUD/NZD
AUD/CAD

I'll probably jump in by 0:00 GMT if fresh cross remains
  • #302
  • Oct 2, 2006 6:37pm Oct 2, 2006 6:37pm
Quoting jamesr24
So where do you recommend the settings to be on the atr and I am assuming you set it in the rsi?...
The ATR would be used on the currency pair to determine the, well, average true range of it. Some here are using or considering to use it for determining where to place stop losses.
So far so good.
  • #303
  • Oct 2, 2006 6:38pm Oct 2, 2006 6:38pm
Quoting cisco
I have 9 charts that I'm monitoring. So far today there's 8 fresh crosses. I don't know if they'll still be there at 5 p.m. when I get a new candle, but right now it looks like a very busy day for the "Fozzy."
Cisco,

I'm not seeing all of these fresh crosses. Could you elaborate?
  • #304
  • Oct 2, 2006 7:30pm Oct 2, 2006 7:30pm
Quoting stockwet
Cisco,

I'm not seeing all of these fresh crosses. Could you elaborate?
Earlier this afternoon the crosses were:
USD/JPY
GBP/USD
EUR/USD
USD/CAD
EUR/CHF
USD/CHF
NZD/USD
AUD/USD
Those were the ones I was monitoring at the time.

Steve
Hi, my name is Barry and you can keep your doctor...
  • #305
  • Oct 2, 2006 7:54pm Oct 2, 2006 7:54pm
Thanks.

I don't have any of these as having valid new crosses. The closest ones are USDCAD (Friday confirm), and EURCHF (last week). The rest do not appear to be valid crosses, unless you are taking all crosses and ignoring the BB median line.

Am I missing something?

Regards,

stockwet

Quoting cisco
Earlier this afternoon the crosses were:
USD/JPY
GBP/USD
EUR/USD
USD/CAD
EUR/CHF
USD/CHF
NZD/USD
AUD/USD
Those were the ones I was monitoring at the time.

Steve
  • #306
  • Oct 2, 2006 7:56pm Oct 2, 2006 7:56pm
Using ATR, according to BeachBum's method significantly improves the backtest results of the system (see attached.) I updated the EA to provide an option for using ATR. User's can specify their own percentage of ATR, which is set to 70% by default. All the other rules are standard (move to B/E at 40 pips, etc.)

Regards,

stockwet


Quoting BeachBum
Hi Steve....

In keeping with the KISS method, I traded single lots. More lots and Vegas fibs would have generated more profit, but I was shooting for what I consider minimum, basic results with the "fozzy". I moved S/L to B/E when ATR value reached, then gradually moved S/L up to lock in profit. Again, more management and tighter stops would have yielded greater gain. That's what I'm doing this week.

BB
Attached File(s)
File Type: zip fozzy2-0.zip   10 KB | 883 downloads
  • #307
  • Oct 2, 2006 8:02pm Oct 2, 2006 8:02pm
Quoting stockwet
Thanks.

I don't have any of these as having valid new crosses. The closest ones are USDCAD (Friday confirm), and EURCHF (last week). The rest do not appear to be valid crosses, unless you are taking all crosses and ignoring the BB median line.

Am I missing something?

Regards,

stockwet
I'm not using the BB's for my testing. I may later.
Hi, my name is Barry and you can keep your doctor...
  • #308
  • Oct 2, 2006 8:20pm Oct 2, 2006 8:20pm
I only Saw a valid cross on the AUDNZD today... Where did the rest happen? I don't see any!



Quoting stockwet
Thanks.

I don't have any of these as having valid new crosses. The closest ones are USDCAD (Friday confirm), and EURCHF (last week). The rest do not appear to be valid crosses, unless you are taking all crosses and ignoring the BB median line.

Am I missing something?

Regards,

stockwet
Ride it like you stole it! Life begins at 25 Knots!
  • #309
  • Oct 2, 2006 8:32pm Oct 2, 2006 8:32pm
Well done stockwet, I'm looking forward to testing this new EA!



Quoting stockwet
Using ATR, according to BeachBum's method significantly improves the backtest results of the system (see attached.) I updated the EA to provide an option for using ATR. User's can specify their own percentage of ATR, which is set to 70% by default. All the other rules are standard (move to B/E at 40 pips, etc.)

Regards,

stockwet
  • #310
  • Oct 2, 2006 8:38pm Oct 2, 2006 8:38pm
Hey Guys..........

Let me jump in here.........I use FXDD's MT4 platform which gives me a new "Daily" candle at 5 PM EST.

Today I have six confirmed signals and one "almost". I took them ALL!

eur/usd
gbp/usd...............almost cross, I took it
usd/chf
aud/usd
eur/cad
gbp/jpy
cad/jpy

Remember, I disregard the BB and take all trades with a cross of the RSI and MA.

BB
  • #311
  • Oct 2, 2006 11:54pm Oct 2, 2006 11:54pm
BeachBum,

You don't use the BBands? I have been using them, but do notice sometimes some good runs happen on the otherside of the centre, do you get many stops or losses taking all crosses?



Quoting BeachBum
Hey Guys..........

Let me jump in here.........I use FXDD's MT4 platform which gives me a new "Daily" candle at 5 PM EST.

Today I have six confirmed signals and one "almost". I took them ALL!

eur/usd
gbp/usd...............almost cross, I took it
usd/chf
aud/usd
eur/cad
gbp/jpy
cad/jpy

Remember, I disregard the BB and take all trades with a cross of the RSI and MA.

BB
Ride it like you stole it! Life begins at 25 Knots!
  • #312
  • Oct 3, 2006 12:10am Oct 3, 2006 12:10am
Quoting HighAsAKite
BeachBum,

You don't use the BBands? I have been using them, but do notice sometimes some good runs happen on the otherside of the centre, do you get many stops or losses taking all crosses?
you are right, BeB not accord. Fozzy took trades, didnt use BBands
Hi
BJ
  • #313
  • Oct 3, 2006 7:21am Oct 3, 2006 7:21am
well that was a long slow ride but that trade played out for 10pips, sold at 38 hit 25 on my limit and took me out. so that 1hr. cross played out. I will keep you informed as trade develops...Jim!
Enter Signature
  • #314
  • Oct 3, 2006 8:00am Oct 3, 2006 8:00am
Fozzy used the BBs as a filter and IMO he did so because of taking a rather conservative approach to trading this method. However, when I went back on the charts and looked at ALL crosses of the RSI and MA, I saw more good trades than loosers, so I decided I would trade ALL crosses. HTH!



Quoting HighAsAKite
BeachBum,

You don't use the BBands? I have been using them, but do notice sometimes some good runs happen on the otherside of the centre, do you get many stops or losses taking all crosses?
  • #315
  • Oct 3, 2006 8:29am Oct 3, 2006 8:29am
Quoting BeachBum
Fozzy used the BBs as a filter and IMO he did so because of taking a rather conservative approach to trading this method. However, when I went back on the charts and looked at ALL crosses of the RSI and MA, I saw more good trades than loosers, so I decided I would trade ALL crosses. HTH!
I still follow Fozzy on the BB,

Keep us posted on results of trading all crosses.

Thanks.
  • #316
  • Oct 3, 2006 11:13am Oct 3, 2006 11:13am
Yesterday afternoon was the first day of my paper trading the Fozzy. While checking the trades today I found almost are going against me. I started digging around. I decided to check what would have happened if I'd have used a simple MA versus an EMA. It turns out I would have stayed out of 2 trades if I'd have used a simple MA instead of an EMA. Both trades are losing with one about to get stopped out.
Hi, my name is Barry and you can keep your doctor...
  • #317
  • Oct 3, 2006 11:27am Oct 3, 2006 11:27am
Quoting BeachBum
Hey Guys..........

Let me jump in here.........I use FXDD's MT4 platform which gives me a new "Daily" candle at 5 PM EST.

Today I have six confirmed signals and one "almost". I took them ALL!

eur/usd
gbp/usd...............almost cross, I took it
usd/chf
aud/usd
eur/cad
gbp/jpy
cad/jpy

Remember, I disregard the BB and take all trades with a cross of the RSI and MA.

BB
BB, I noticed you didn't have USD/JPY as a cross. Did your indicator not show a cross? I'm asking because I want to see if I'm doing something wrong on my indicator setup.
Hi, my name is Barry and you can keep your doctor...
  • #318
  • Oct 3, 2006 11:30am Oct 3, 2006 11:30am
Quoting cisco
Yesterday afternoon was the first day of my paper trading the Fozzy. While checking the trades today I found almost are going against me. I started digging around. I decided to check what would have happened if I'd have used a simple MA versus an EMA. It turns out I would have stayed out of 2 trades if I'd have used a simple MA instead of an EMA. Both trades are losing with one about to get stopped out.
One of the problems, I think, is that the trade signals were executed due to the news event yesterday. This moved the market off it's path and it's probably going through it's correction right now... Makes me wonder how we should handle signals issued due to news events. They happen every week.

Jason
  • #319
  • Oct 3, 2006 12:04pm Oct 3, 2006 12:04pm
[quote=BeachBum]

Mon-Tues:
eur/cad.................+57
audnzd.................-115
cad/jpy................+132
eur/aud.................+15

Tues-Wed:
eur/usd.................B/E
gbp/usd...............+178
usd/jpy.................+28
gbp/jpy................-130
aud/jpy.................B/E
nzd/usd................still open, currently at B/E........closed at B/E
aud/nzd................still open, currently -45............S/O......-119

Wed-Thurs:
usd/chf................+37
eur/jpy.................still open, currently +70.............closed +50
eur/gbp................still open, currently +30.............closed +30

Thurs-Fri:
eur/aud................still open, currently +50...........still open +75 locked in
eur/chf.................B/E

New trades:

Mon-Tues:
usd/cad................+40

QUOTE]
  • #320
  • Oct 3, 2006 12:13pm Oct 3, 2006 12:13pm
I did not get a cross on the usd/jpy, not even close. See attached screenshot. The only reason I can think of is that I am using a broker (FXDD) with a platform set to GMT+3 so I get my new daily candle at 5 PM EST.



Quoting cisco
BB, I noticed you didn't have USD/JPY as a cross. Did your indicator not show a cross? I'm asking because I want to see if I'm doing something wrong on my indicator setup.
Attached Image
1 trader viewing now