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The Daily Fozzy Method

  • #581
  • Oct 24, 2006 12:28pm Oct 24, 2006 12:28pm
Quoting paul2
...I use the SMA and don't have that problem. I've had them cross under, and then cross back over right away on the next day, but that just leaves a little "V" under the RSI.
Hi Paul, i too use the SMA signal line and i'm testing the Fozzy in forward testing both manually and w/the EA. I had two trades initiated yesterday and i'm wondering if you took any similar trades via the manual signals that may have been generated. The trades that were initiated are as follows (a paste from my post at the other thread.) :
Quote
i have two identical MT4 demos though the second one has the BBs set at 40 instead of the default 20. Both entered into EurUsd Sells at 1.2545, and on the GBP the BB40 in a Sell at 1.8722 and the BB20 in a Sell at 1.8723
Thanks in advance for any reply.
Thom
  • #582
  • Oct 24, 2006 12:31pm Oct 24, 2006 12:31pm
The Bhoy,

Let me know how you control your urge to cheer/monitor your Fozzy trades because I am trying to do the same. By the way I do believe that you don't necessarily follow a system in a dogmatic fashion. You do, imho, need to use discretion and think for yourself. Not all crosses are meant to be traded. Nevertheless, I am long with usd/jpy in my MB demo but Iam not sure if I would have done it live.

Good luck
All 4 1 and 1 4 All
  • #583
  • Oct 24, 2006 12:38pm Oct 24, 2006 12:38pm
Quoting Miguel
Sorry, i am using simple moving average like you. the pair was usd/mxn (exotic).
Sorry, I don't think I can help answer your question. I would only suggest not to trade exotics.
So far so good.
  • #584
  • Oct 24, 2006 12:47pm Oct 24, 2006 12:47pm
Quoting accrete
Hi Paul, i too use the SMA signal line and i'm testing the Fozzy in forward testing both manually and w/the EA. I had two trades initiated yesterday and i'm wondering if you took any similar trades via the manual signals that may have been generated. The trades that were initiated are as follows (a paste from my post at the other thread.) :Thanks in advance for any reply.
Thom
Here's my chart from yesterday before the new bar for EUR/USD (I try to post all crossed charts daily on my blog.) There was definitely a cross, visually, on this chart and also when you look at the values, the MA is above the RSI. I did not enter at 1.2545 (or at all) because I thought AUD/USD and USD/JPY were in a better shape to go "my way" by the way their charts look. I haven't quite figured out the EA (I'm new to Metatrader) so I haven't tried it for signals yet. If you look at the current chart, it's already crossed the MA again as if it's going to continue it's previous up trend. The two positions I did enter have also reversed, but I'm going to hold out as they've not hit my stop losses.

http://www.aforexblog.com/wp-content...d-10-23-06.gif
So far so good.
  • #585
  • Oct 24, 2006 12:52pm Oct 24, 2006 12:52pm
Miguel............when you say "waited for a new day", do you mean waited for a new Daily candle? Once a daily candle/bar has 'closed' with a cross below it on the RSI and MA indicator, that cross will not "go away", it's in the history. It sounds like you did not wait for a new daily candle/bar. I have never had a cross "disappear" and I've looked at many of these fozzy chart setups in the past four weeks.



Quoting Miguel
Hi guys! Don't know if anyone notice this. Yesterday i saw a cross in a pair. waited for a new day, the cross was still there and the price was going on the cross way, but later in the afternoon the price retraced and wiped the cross of the ema and the rsi. What can we do to prevent this? This is kind of frustating because we enter by the cross, then she dissapears later...
Any toughts on this?
  • #586
  • Oct 24, 2006 12:54pm Oct 24, 2006 12:54pm
Quoting 4rex
The Bhoy,

Let me know how you control your urge to cheer/monitor your Fozzy trades because I am trying to do the same. ...
The hardest part about trading, imho, is learning to seperate the numbers you see on the screen, with their value in your pocket. Vodka helps.
So far so good.
  • #587
  • Oct 24, 2006 12:59pm Oct 24, 2006 12:59pm
Please allow me to jump in here.........I use FXDD (which is GMT+3) so I get a new "daily" at 5PM EST. I didn't get this cross, almost, but not quite. However, I have had several trades that did what yours is doing (so has fozzy according to his posts). I suggest you give it time. That's why you have a stop. Let it breathe, there's a good chance it will go your way, but it may take days, based on current market conditions. I'm upside down in two of my fozzy trades from yesterday, but only by a few pips and the third one is up about 20 pips. So, no worries mate!

Quoting paul2
Here's my chart from yesterday before the new bar for EUR/USD (I try to post all crossed charts daily on my blog.) There was definitely a cross, visually, on this chart and also when you look at the values, the MA is above the RSI. I did not enter at 1.2545 (or at all) because I thought AUD/USD and USD/JPY were in a better shape to go "my way" by the way their charts look. I haven't quite figured out the EA (I'm new to Metatrader) so I haven't tried it for signals yet. If you look at the current chart, it's already crossed the MA again as if it's going to continue it's previous up trend. The two positions I did enter have also reversed, but I'm going to hold out as they've not hit my stop losses.

http://www.aforexblog.com/wp-content...d-10-23-06.gif
  • #588
  • Oct 24, 2006 1:01pm Oct 24, 2006 1:01pm
I prefer Grappa...............



Quoting paul2
The hardest part about trading, imho, is learning to seperate the numbers you see on the screen, with their value in your pocket. Vodka helps.
  • #589
  • Oct 24, 2006 1:04pm Oct 24, 2006 1:04pm
You may jump in any time, friend. I agree. I've had 2 trades, as far as I can remember, which went sideways for 2 days and then went in the direction indicated by the cross. I'm not concerned, that's what the stop loss is there for. However, I have considered implementing a "cut half your losses if it's not good soon" plan as part of my money management, that way I'd minimize the loss that might be incurred. I'm not at that point though, just an idea I'm tossing around in my head. Can't wait for tomorrow's report!


Quoting BeachBum
Please allow me to jump in here.........I use FXDD (which is GMT+3) so I get a new "daily" at 5PM EST. I didn't get this cross, almost, but not quite. However, I have had several trades that did what yours is doing (so has fozzy according to his posts). I suggest you give it time. That's why you have a stop. Let it breathe, there's a good chance it will go your way, but it may take days, based on current market conditions. I'm upside down in two of my fozzy trades from yesterday, but only by a few pips and the third one is up about 20 pips. So, no worries mate!
So far so good.
  • #590
  • Oct 24, 2006 1:07pm Oct 24, 2006 1:07pm
Hi Paul and thank you for your reply. In looking at your nice chart it appears your feed is similar if not exactly like my IBFX demo feed shown in the lower black background chart shown below (Alpari demo feed is in blue above it). The crazy thing is i had not compared the Alpari chart indicators (which i have used for well over a year to trade manually with success) to the IBFX charts which i use in the 10 or so demo accounts i have EAs running in.

http://www.accrete.com/fx-posts/tgle...iscrepency.gif

So here is what you see, and this i believe is an issue to be addressed, which i think Stockwet has brought up also(?). If you look at the vertical magenta line running from top to bottom intersecting the yesterday's large bear candle you will see the RSI and Signal crosses are clearly different on the two feeds. Trading manually (off the blue Alpari charts) yesterday i did not enter into the sell that the Fozzy EA triggered via the IBFX (black chart) feed and RSI crossing.

Now here is the clincher. As stated, in manually trading this model on 1hr charts over the last year i never entered at the cross just cuz it was a cross. This has saved me lots of lost pips. But here, even if we have another issue; One feed says Cross/Heads Up, the other says No Cross, come back another day. These are very different visual clues. Something to keep in mind if one is dependent upon indicators to help make decisions. Glad i like to trade mostly via TDTL breaks ! They can't lie.

In hindsite, i am wondering now if much of the confusion with my posting, and earlier use, of FXSnipers nice Dyanmic RSI was an issue of differences in Data Feeds and not the coding inside his indicator?

: ) or should i put a sad one there?

, ( Thom
  • #591
  • Oct 24, 2006 1:13pm Oct 24, 2006 1:13pm
Hi all

Ive just really started following Fozzy....seems to have some potential

From what I see on my charts, Im seeing different signals to some of you.

Usd/Jpy - Long at 119.32........seems right


Quote:
<TABLE cellSpacing=0 cellPadding=6 width="100%" border=0><TBODY><TR><TD class=alt2 style="BORDER-RIGHT: 1px inset; BORDER-TOP: 1px inset; BORDER-LEFT: 1px inset; BORDER-BOTTOM: 1px inset">i have two identical MT4 demos though the second one has the BBs set at 40 instead of the default 20. Both entered into EurUsd Sells at 1.2545, and on the GBP the BB40 in a Sell at 1.8722 and the BB20 in a Sell at 1.8723 </TD></TR></TBODY></TABLE>
In the above 2 signals I see the RSI line touch the MA and then bounce up again on the EUR/USD, and similar on the GBP/USD - so No signals generated


Aud/Usd - RSI has touched MA, but has bounced up again, so no signal generated.

I am using RSI 8, Simple MA 8, No BBs. I have 2 MT Demos and both show the same ie...Only Usd/Jpy signal.


Cheers
  • #592
  • Oct 24, 2006 1:22pm Oct 24, 2006 1:22pm
I am reading through all this thread -I am confused - maybe because i am ready the alt thread as well.

Would someone be so kind to list the Indicators we are using for Daily Fozzy and there settings?

As far as i can see
fozzy 2 ea
dynamic zone rsi

thats I all I have. Is this correct?

Thanks
  • #593
  • Oct 24, 2006 1:26pm Oct 24, 2006 1:26pm
Quoting Miguel
Hi guys! Don't know if anyone notice this. Yesterday i saw a cross in a pair. waited for a new day, the cross was still there and the price was going on the cross way, but later in the afternoon the price retraced and wiped the cross of the ema and the rsi. What can we do to prevent this? This is kind of frustating because we enter by the cross, then she dissapears later...
Any toughts on this?
I've seen the same thing happen before. I "think" what may be happening is this. If you take the space between the daily candles, you'll find that the left half of the space is yesterday. The right half is today. If you put your mouse on the moving average to the left of center it shows yesterday's date. If you do the same for the right half it shows today's date. When a new bar forms and there's a cross in the right half of the space, it can uncross. It's happened to me before, that's why I try not to take a trade if the cross is in the right half of the current bar. (I don't know if that makes any sense or not)
Hi, my name is Barry and you can keep your doctor...
  • #594
  • Oct 24, 2006 1:39pm Oct 24, 2006 1:39pm
This is EXACTLY why when a 'cross' appears you MUST wait for THAT daily candle to be completed AND a NEW daily candle to starting forming. If you do THAT, a cross will NOT disappear that appeared during the previous candle.



Quoting cisco
I've seen the same thing happen before. I "think" what may be happening is this. If you take the space between the daily candles, you'll find that the left half of the space is yesterday. The right half is today. If you put your mouse on the moving average to the left of center it shows yesterday's date. If you do the same for the right half it shows today's date. When a new bar forms and there's a cross in the right half of the space, it can uncross. It's happened to me before, that's why I try not to take a trade if the cross is in the right half of the current bar. (I don't know if that makes any sense or not)
  • #595
  • Oct 24, 2006 1:43pm Oct 24, 2006 1:43pm
Quoting cisco
I've seen the same thing happen before. I "think" what may be happening is this. If you take the space between the daily candles, you'll find that the left half of the space is yesterday. The right half is today. If you put your mouse on the moving average to the left of center it shows yesterday's date. If you do the same for the right half it shows today's date. When a new bar forms and there's a cross in the right half of the space, it can uncross. It's happened to me before, that's why I try not to take a trade if the cross is in the right half of the current bar. (I don't know if that makes any sense or not)
English is not my native language so there is a gap here, i don't understand what you are saying. lol Sorry...

Quoting BeachBum
This is EXACTLY why when a 'cross' appears you MUST wait for THAT daily candle to be completed AND a NEW daily candle to starting forming. If you do THAT, a cross will NOT disappear that appeared during the previous candle.
I'll pay more attencion to this
  • #596
  • Oct 24, 2006 2:43pm Oct 24, 2006 2:43pm
Miguel and others.

If you went back to the first Fozzy post you will find the following:

Long Entries: RSI must be below the middle Bollinger Band. Enter long on the open of the next bar after the MA has crossed above the RSI.

This is what BeachBum is talking about.

Ok, Miguel I am going to assume that your first language is Spanish so:

Lo que dices BeachBum es que uno hace el trueque(trade) durante la apertura de la vela(candle) que le sigue a la anterior. O sea si la vela del dia 23 de octubre demontro el cruce (cross) la apertura(open) de la proxima vela del 24 de octubre es la indicada.

Okay?

Buena suerte,
All 4 1 and 1 4 All
  • #597
  • Oct 24, 2006 2:59pm Oct 24, 2006 2:59pm
This might help folk make certain the new daily bar is in place before trading on a fozzy cross.
Attached File(s)
File Type: mq4 bar_close_alarm_V1.mq4   2 KB | 558 downloads
Is your SL my TP?
  • #598
  • Oct 24, 2006 4:16pm Oct 24, 2006 4:16pm
Quoting 4rex
Miguel and others.

If you went back to the first Fozzy post you will find the following:

Long Entries: RSI must be below the middle Bollinger Band. Enter long on the open of the next bar after the MA has crossed above the RSI.

This is what BeachBum is talking about.

Ok, Miguel I am going to assume that your first language is Spanish so:

Lo que dices BeachBum es que uno hace el trueque(trade) durante la apertura de la vela(candle) que le sigue a la anterior. O sea si la vela del dia 23 de octubre demontro el cruce (cross) la apertura(open) de la proxima vela del 24 de octubre es la indicada.

Okay?

Buena suerte,
Yep i got that. Many thanks! Oh btw i am not spanish neither my native language is spanish but i understand very well: soy de portugal tio! lol
  • #599
  • Oct 24, 2006 6:12pm Oct 24, 2006 6:12pm
Quote
If you went back to the first Fozzy post you will find the following:

Long Entries: RSI must be below the middle Bollinger Band. Enter long on the open of the next bar after the MA has crossed above the RSI.



Just for good order, page 2 gives the correct description


Quote:
<TABLE cellSpacing=0 cellPadding=6 width="100%" border=0><TBODY><TR><TD class=alt2 style="BORDER-RIGHT: 1px inset; BORDER-TOP: 1px inset; BORDER-LEFT: 1px inset; BORDER-BOTTOM: 1px inset">Originally Posted by diallist




LONG: RSI crosses above the MA. Cross must be below middle BB.

SHORT: RSI crosses below the MA. Cross must be above middle BB.



</TD></TR></TBODY></TABLE>


Quote
Hi diallist,

Yes you are right. My initial description was back to front. Sorry for the confusion.


Cheers
  • #600
  • Oct 24, 2006 6:39pm Oct 24, 2006 6:39pm
guy's the USD is going stronger against the EUR today ..
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