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The Daily Fozzy Method

  • #601
  • Oct 24, 2006 6:50pm Oct 24, 2006 6:50pm
Quoting accrete
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.
There definitely is something funny going on with MT4, or at least how the indicator is applying on the charts.


Quote
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.

MT4 is very new to me, I've only started to use it a month ago. I do not know much about EA's or the metatrader programming language, but I do know that stockwet's EA uses EMA by default. Try changing it to SMA to see what it does.

Quote
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.

I always apply my personal discretion when trading. I usually look for signs of resistance or support, and other indicators such as candle shapes and how bands are moving, etc. I think that this indicator is a good one to use for a, as you say "heads up" - "Look at me, I might do something soon."

Quote
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

No idea, all I know is there definitely is something fishy in the charts that may cause errors. I think stockwet is looking into it and has posted info in his EA thread.
So far so good.
  • #602
  • Oct 24, 2006 7:19pm Oct 24, 2006 7:19pm
Has anyone written an indicator for the Fozzy RSI/MA crossover that alerts on any timeframe? I use the Foz method on the 1 HR and it gives great signals. I have various MA indicator alerts that can be tweaked for different MAs but nothing for an RSI/MA combo that I can find. Any help? I hope to move up to a daily chart to trade someday when I can fund an account that can survive the added drawdown the daily demands. Until then it's nickles and dimes on pips but, hey money is money!
"Though this be madness, yet there is method in it." -Hamlet Act II
  • #603
  • Oct 25, 2006 4:02am Oct 25, 2006 4:02am
Is this what you're looking for ?

TheRumpledOne has written a Fozzy Indicator but if I tell you where it is, I will get banned from this forum. You will have to search the internet to find it.
Attached Image
  • #604
  • Oct 25, 2006 5:20am Oct 25, 2006 5:20am
Quoting 4X=0
Is this what you're looking for ?

TheRumpledOne has written a Fozzy Indicator but if I tell you where it is, I will get banned from this forum. You will have to search the internet to find it.
Photoshop??
  • #605
  • Oct 25, 2006 7:02am Oct 25, 2006 7:02am
Quoting Gee Seven
Has anyone written an indicator for the Fozzy RSI/MA crossover that alerts on any timeframe? I use the Foz method on the 1 HR and it gives great signals. I have various MA indicator alerts that can be tweaked for different MAs but nothing for an RSI/MA combo that I can find. Any help? I hope to move up to a daily chart to trade someday when I can fund an account that can survive the added drawdown the daily demands. Until then it's nickles and dimes on pips but, hey money is money!
Stockwet's EA works on the 4h. you could probably adapt it.
So far so good.
  • #606
  • Oct 25, 2006 9:11am Oct 25, 2006 9:11am
Quoting paul2
Stockwet's EA works on the 4h. you could probably adapt it.
I think that given the variations people are using on the method, I'll pull out the alert code in the EA and create a separate alert-only EA.

I like TRO's indicator though. It's nice and compact and has a whole bunch of pairs on one screen.
  • #607
  • Oct 25, 2006 9:38am Oct 25, 2006 9:38am
An open question for someone more enlightened on data feed than myself.

Would it be safe to assume that your crosses are dependent on your broker? I ask because most of the time I don't get the crosses that others are getting. I'm using SBFX. Anyone else experience this?
Hi, my name is Barry and you can keep your doctor...
  • #608
  • Oct 25, 2006 9:44am Oct 25, 2006 9:44am
Quoting stockwet
I think that given the variations people are using on the method, I'll pull out the alert code in the EA and create a separate alert-only EA.

I like TRO's indicator though. It's nice and compact and has a whole bunch of pairs on one screen.
Yeah that'd be awsome. Think you could do the indicator with all the pairs on a single screen?
So far so good.
  • #609
  • Oct 25, 2006 9:48am Oct 25, 2006 9:48am
Absolutely cisco........I have two sets of charts setup from two different brokers. FXDD is GMT+3 and IBFX is GMT. I get new daily candles/bars at 5PM EST and 8PM EST and therefore the fozzy signals will sometimes be different. Remember: Fozzy wrote he was working with charts that renewed at GMT. HTH!



Quoting cisco
An open question for someone more enlightened on data feed than myself.

Would it be safe to assume that your crosses are dependent on your broker? I ask because most of the time I don't get the crosses that others are getting. I'm using SBFX. Anyone else experience this?
  • #610
  • Oct 25, 2006 10:03am Oct 25, 2006 10:03am
Quoting BeachBum
Absolutely cisco........I have two sets of charts setup from two different brokers. FXDD is GMT+3 and IBFX is GMT. I get new daily candles/bars at 5PM EST and 8PM EST and therefore the fozzy signals will sometimes be different. Remember: Fozzy wrote he was working with charts that renewed at GMT. HTH!
Thanks BB....I'll have to look into getting an additional broker.
Hi, my name is Barry and you can keep your doctor...
  • #611
  • Oct 25, 2006 1:47pm Oct 25, 2006 1:47pm
LOL. This whole thing on Feeds and Crosses/Signals really whacked me upside the head the other day. I was honestly thinking of trading naked and ditching all the indicators. What is the world coming to.

grin.
Thom
  • #612
  • Oct 25, 2006 2:03pm Oct 25, 2006 2:03pm
Whoa Thom...............please don't post any pics of yourself trading "naked"!...........



Quoting accrete
LOL. This whole thing on Feeds and Crosses/Signals really whacked me upside the head the other day. I was honestly thinking of trading naked and ditching all the indicators. What is the world coming to.

grin.
Thom
  • #613
  • Oct 25, 2006 3:55pm Oct 25, 2006 3:55pm
Hi All

Just a quickie to those that have been demoing fozzy for a while.

If a trade goes against you but doesn't take out your stop (the rsi crosses back the opposite way) what would you do?

Hold in there and see what happens or close out that position and place a trade in the opposite direction ?

A quick look back at the charts suggests that mostly it reverses back again in a day or so producing the "V" pattern above or below the MA.
  • #614
  • Oct 25, 2006 4:51pm Oct 25, 2006 4:51pm
Willf,

Here is my opinion: my short answer is stay with the trade.... my long answer relies on that good ole discretion, the one that one gains from experience and also from observing that particular pair. Also, you have to ask yourself....was there a major news released? did the cross back occurred above or below the mid band of the Bollinger? etc. etc. I am sure you will receive more information for you to digest. I hope this was helpful. Good question on your part. It helps us all.
All 4 1 and 1 4 All
  • #615
  • Oct 25, 2006 5:03pm Oct 25, 2006 5:03pm
Quoting BeachBum
Whoa Thom...............please don't post any pics of yourself trading "naked"!...........
LOL. No worries mate, i only go in the water with a dry suit (love those wireless connections to the internet, trade and kayak at the same time. grin) ...the water is waaaaaaay to cold up here for anything else!
  • #616
  • Oct 25, 2006 5:10pm Oct 25, 2006 5:10pm
Hola,

i see a very narrow bullish cross on this pair, do you guys have the same at your charts?

Thanks,

FT
  • #617
  • Oct 25, 2006 5:36pm Oct 25, 2006 5:36pm
Quoting fingotrader
Hola,

i see a very narrow bullish cross on this pair, do you guys have the same at your charts?

Thanks,

FT
Which timeframe?

On the one hour chart I see RSI(8) crossing below MA(8) above the middle BB(20) - so I take that as a short?

So much of this stuff relies on being able to compare notes in real time - isn't there a chatroom where people can chat in real-time?
  • #618
  • Oct 25, 2006 6:47pm Oct 25, 2006 6:47pm
Here is my chart of EUR/AUD. It is crossing, but now that I check again, it has lost some steam and has retreated below the line. Anyway this chart shows the cross that was there. I think I will stay out of this one even if it does cross before the new bar.


http://www.aforexblog.com/wp-content...d-10-25-06.gif



Quoting fingotrader
Hola,

i see a very narrow bullish cross on this pair, do you guys have the same at your charts?

Thanks,

FT
So far so good.
  • #619
  • Oct 25, 2006 7:29pm Oct 25, 2006 7:29pm
I don't know if anyone notice this, it seems many of near high/low of swings happen just after 8sma line crosses up/down bollinger lines (vertical yellow lines). And theres a case of strong trend, 8 sma stay outside of bollinger bands, and trends end just after it crossed back inside? the crosses could be a good manual exit point.


http://img138.imageshack.us/img138/1951/peakqs4.gif
  • #620
  • Edited 8:06am Oct 26, 2006 7:30am | Edited 8:06am
Quoting cisco
I've been knocking myself out trying to figure why I come up with +1495 pips for your trades and you only show +1234 pips. I think I've figured it out. On pg 22 of you Oct 3 update, you closed 4 trades for -39 pips. Also, on pg 31 you closed 4 trades for +300 pips. On these 2 updates I couldn't find where they'd been applied to your totals. The net effect is +261 pips which is exactly the difference.
Here's the breakdown of BB's trades so far:
gbp/usd 5 trades +517 pips

cad/jpy 4 +327

usd/jpy 4 +276

eur/aud 3 +275

eur/cad 4 +267

eur/usd 5 +186

usd/chf 5 +100

eur/jpy 3 +74

gbp/chf 2 +47

eur/gbp 3 +33

aud/jpy 3 +13

chf/jpy 1 +11

eur/chf 1 B/E

nzd/usd 3 -17

usd/cad 2 -30

aud/usd 3 -56

aud/nzd 5 -182

gbp/jpy 6 -346
Hi everyone,

So according to beachbums results we should not be trading alot of these pairs?

What do you all think?

I am trying to find how I can filter the signals alittle to avoid some of the bad trades. What filters are some of you guys and girls using?
I thought about not taking trades near s/r levels but that would have kept me out of alot of great trades, maybe only taking trades with the overall trend?

Any help with this would be a great help

many thanks

DD
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