The Daily Fozzy Method | Page 36 | 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

  • #701
  • Nov 1, 2006 8:06pm Nov 1, 2006 8:06pm
Hello all,

I have just made some new discovery on here.I am new here anyway but i think it will be good to share that with the good people on here.In the course of me saving some mq4 files in my MT4,i made a mistake that has turned to profitable working system.I have backtested this till march and it had only 3 loosing trades.I have worked out a stop loss for this syetm and with that,possibly there might be no loss.I have this on ma MT4 and i have the template saved but i dont know how to get that saved on my computer and possibly paste on dis forum as i dont want to edit it so that it doesnt get messed up.It works with 4Hr as well.Anyone interested and also knows how to save and get it out of my MT4 should just tell me how to go about doing this.Thanks and waiting to read from you guys..
  • #702
  • Nov 1, 2006 8:21pm Nov 1, 2006 8:21pm
Quoting pharmadap
Hello all,

I have just made some new discovery on here.I am new here anyway but i think it will be good to share that with the good people on here.In the course of me saving some mq4 files in my MT4,i made a mistake that has turned to profitable working system.I have backtested this till march and it had only 3 loosing trades.I have worked out a stop loss for this syetm and with that,possibly there might be no loss.I have this on ma MT4 and i have the template saved but i dont know how to get that saved on my computer and possibly paste on dis forum as i dont want to edit it so that it doesnt get messed up.It works with 4Hr as well.Anyone interested and also knows how to save and get it out of my MT4 should just tell me how to go about doing this.Thanks and waiting to read from you guys..
BeachBum...... can you assist this trader with your expertise sir!

Thanks
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #703
  • Nov 1, 2006 8:31pm Nov 1, 2006 8:31pm
OK.............let me see if I understand this. You have a template. Have you "saved" it in MT4? If not, do this:

At the top of your chart left click on "Charts"

Scroll down to "Template"

Left click on "Save Template"

Name it and click "Save"

Now you have saved the new template with indicators.

Do you know how to find the directory that has your MT4 platform?


Quoting pharmadap
Hello all,

I have just made some new discovery on here.I am new here anyway but i think it will be good to share that with the good people on here.In the course of me saving some mq4 files in my MT4,i made a mistake that has turned to profitable working system.I have backtested this till march and it had only 3 loosing trades.I have worked out a stop loss for this syetm and with that,possibly there might be no loss.I have this on ma MT4 and i have the template saved but i dont know how to get that saved on my computer and possibly paste on dis forum as i dont want to edit it so that it doesnt get messed up.It works with 4Hr as well.Anyone interested and also knows how to save and get it out of my MT4 should just tell me how to go about doing this.Thanks and waiting to read from you guys..
  • #704
  • Nov 1, 2006 8:37pm Nov 1, 2006 8:37pm
I use the Vegas Daily on my daily chart. Use the ATR, Tunnel and fib levels to set an initial T/P. "eyeball" the chart. What's the trend? What does the history of this currency on the daily chart tell you about where the price is likely to go? Zoom out and take good look. Use candle/bar patterns as taught in the PF or elsewhere. Get a "feel" for what's happening. Use "price action" Just a few ideas.



Quoting nutmg12
Hey BB thanks for your advice.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

I have no idea how I would set a profit target. Shouldn’t it be flexible? I always open 3 positions and keep the 4 hr tunnel on my charts to have some idea of where price is in relation to the 4 hr 55MA and fibs but don't see how you can limit yourself to an end point.<o></o>


Do you set your position size by a certain % of your account balance?
  • #705
  • Nov 1, 2006 9:26pm Nov 1, 2006 9:26pm
I'll load it up and let you know. Thanks for your considerate help.Blessings and good trading to you- G7

Quoting stevecartwright
Try this, I have not been ale to test on 1hr charts but seems to work on minutes. Its a cut down version of an EA I use so shouild be ok. Alos I am now experimenting with 2 MA's on te RSI a 3 Simple and 3 Linear Weighted to see if I can stop some of the erroneous trades.
"Though this be madness, yet there is method in it." -Hamlet Act II
  • #706
  • Nov 2, 2006 6:40am Nov 2, 2006 6:40am
Thanks beachbum..i already saved this template and even have a copy on my computer desktop.But the problem i have now is how to get it to the post here.When i tried attaching it,it was broken into some letter codes,sorry i dont know how to make this in .tpl file again as i dont know much about programming.All i need now is how to either convert the broken tpl file back to .tpl or how to copy it on here straight.Thx a lot and waiting for your response all.
  • #707
  • Nov 2, 2006 6:53am Nov 2, 2006 6:53am
Quoting BeachBum
OK.............let me see if I understand this. You have a template. Have you "saved" it in MT4? If not, do this:

At the top of your chart left click on "Charts"

Scroll down to "Template"

Left click on "Save Template"

Name it and click "Save"

Now you have saved the new template with indicators.

Do you know how to find the directory that has your MT4 platform?
hello beachbum,thanks for your info.I just got the file attahced now.It is zipped file.U can download and check.This was made by someone else but in the course of installation and litle amendment to filter out fake signals,i have been able to arrive at a very profitable system.I will appreciate any comment or recommendation.Waiting to read from you all.thx
Attached File(s)
File Type: zip Shortcut to the wrong.tpl.zip   < 1 KB | 502 downloads
  • #708
  • Nov 2, 2006 6:59am Nov 2, 2006 6:59am
the file is not opening..lets try here..
Attached File(s)
File Type: zip the wrong 2.zip   1 KB | 579 downloads
  • #709
  • Nov 2, 2006 7:45am Nov 2, 2006 7:45am
Quoting pharmadap
the file is not opening..lets try here..
The file is now active and working.This method was actually detected by someone else but like i said in my earlier post,i use it in another way entirely..

Entry ;Formerly i was used to opening a long position at the open of the next 4 hour bar after the red dot appears.But now i have added a liltle filter with the help of my former broker..fxcm.

I dont know if anyone else has access to this same information.I use their analysis to determine the expected strong point of support and resistance.

After seeing the red dot,i look for the next support point.I wait for price to get to this price or in a 5 pip range and place my long trade.

I backtested this method without using the support line analysis and i realised it will need a large stop loss to remain in the trade.But if u can probably get the next support line after the opening price of the candle after the red dot,ur stop loss can be just in the range of 25 pips.

Short:

I will enter a short position at the next resistance level on the next 4 hr bar after the appearance of the blue dot.The signal is stronger if u have the fx sniper cci cross.

This is the result using this method from yesterday up till now...
GBp/USD
Short@ 1.9132 and closed at 1.9065{when the red dot appeard}
Equivalent is 67 pips
Gbp/USD

Long at 1.9035 .The position is still open and now at 60pips +

Will soon post some backtesting result.

I am really new here and a new trader,so i wil be waiting for recommendations and suggestions...Thankx
  • #710
  • Nov 2, 2006 8:58am Nov 2, 2006 8:58am
For anyone interested in pivots here's a script for Camarilla. They do seem to be very good at turning points. No promises do your own research please.

Quoting Gee Seven
I'll load it up and let you know. Thanks for your considerate help.Blessings and good trading to you- G7
Attached File(s)
File Type: mq4 Camarilla Pivot Current bar.mq4   2 KB | 711 downloads
  • #711
  • Nov 2, 2006 9:00am Nov 2, 2006 9:00am
Quoting stevecartwright
For anyone interested in pivots here's a script for Camarilla. They do seem to be very good at turning points. No promises do your own research please.
how to i load this pivot to my MT4?
  • #712
  • Nov 2, 2006 9:35am Nov 2, 2006 9:35am
pharmadap

I have loaded your template but all I see is the bars and the support/resistance lines, no red or blue dots. What am I missing?

DaveW
  • #713
  • Nov 2, 2006 9:41am Nov 2, 2006 9:41am
Quoting DaveW
pharmadap

I have loaded your template but all I see is the bars and the support/resistance lines, no red or blue dots. What am I missing?

DaveW
try it again and if it doesnt go,let me know.probably i will have to ask some expert ore on how to get it to this post again.Thx
  • #714
  • Nov 2, 2006 10:13am Nov 2, 2006 10:13am
Quoting stevecartwright
For anyone interested in pivots here's a script for Camarilla. They do seem to be very good at turning points. No promises do your own research please.
Regarding the Camarillas, I have noticed that on those days immediately following the Fozzy signal the price will invariably retrace to the H3 or L3 then continue to move in the direction indicated by Fozzy until it hits the opposite H3/L3. Depending on the pairs and the previous day's range the distance between the H3 and L3 varies between 10-15 pips up to 60-70 pips.

Setting a Limit Buy/Sell at the H3/L3 opposite to the direction indicated by Fozzy with a Take Profit at the other H3/L3 would have resulted in a total of 248 pips this week so far taking all the Fozzy signals for a total of 9 trades (3 pairs with the Fozzy signals did not trigger the trades as they never reached the initial Limit stop). I use the ATR as an initial stop loss and cancel the Limit Buy/Sell if it has not triggered by New York opening.

This method is difficult to back test as the Camarillas change each day and do not show on the historic charts.

I was prompted to investigate this method of trading the Fozzy signals by an observation made by someone earlier (I think it was BB) that the majority of Fozzy trades retraced immediately after they are set.

This method might miss the big moves but could provide a nice steady income without having to sweat over when to take profit.

A quick glance at the charts will show that virtually all the pairs bounce from one H/L3 to the other in the course of a days trading. A judicious use of Money management would take into account the occasional loss.

Anyway, for what it is worth I thought I might add to SteveCartwright's contribution.

DaveW
  • #715
  • Nov 2, 2006 10:45am Nov 2, 2006 10:45am
pharmadap

I think the problem is that I need the MQ4 file to generate the Red and Blue dots. You have it in your Indicator folder and for your template to work on my platform I would need the same files that the template uses.

Would appreciate it if you could either post it here or tell me which one it is and I will attempt to find it somewhere.

At the moment all I can get is the bare chart with the S/R lines. See attachment.

Thanks

Dave W
Attached Image
  • #716
  • Nov 2, 2006 5:02pm Nov 2, 2006 5:02pm
Quoting DaveW
pharmadap

I think the problem is that I need the MQ4 file to generate the Red and Blue dots. You have it in your Indicator folder and for your template to work on my platform I would need the same files that the template uses.

Would appreciate it if you could either post it here or tell me which one it is and I will attempt to find it somewhere.

At the moment all I can get is the bare chart with the S/R lines. See attachment.

Thanks

Dave W
Hello,
I am sorry as i dont kno much about the mq4 files and the template.I think i told you how i got to know about this indicator.Now,i have it in my MT4 here but to successfully put the file out if the problem.Did you use the second file i posted or the first??
  • #717
  • Nov 2, 2006 7:54pm Nov 2, 2006 7:54pm
DaveW is asking for a list of the indicators in your template. Do this:

Right click on the correct template. In the drop-down box, left click on "Indicators". There will be a list. Please post that list for us. Copy and paste the list or type them out for us.


Quoting pharmadap
Hello,
I am sorry as i dont kno much about the mq4 files and the template.I think i told you how i got to know about this indicator.Now,i have it in my MT4 here but to successfully put the file out if the problem.Did you use the second file i posted or the first??
  • #718
  • Nov 2, 2006 8:08pm Nov 2, 2006 8:08pm
DaveW and BB,
I think you need to be more specific in your instructions for someone who does not know their way around MT4 (and i don't). For example where is he when you ask him to "right click on the correct template"...... on the opened chart page of MT4 or in templates folder in explorer etc?
cheers Mungo
  • #719
  • Nov 2, 2006 8:44pm Nov 2, 2006 8:44pm
Mungo,

You right click anywhere on the chart. A list will come up. Go to templates and click it. A list will appear and click "load", This will show all the templates in the server. Hope this helps
All 4 1 and 1 4 All
  • #720
  • Edited 10:58pm Nov 2, 2006 8:57pm | Edited 10:58pm
Quoting BeachBum
DaveW is asking for a list of the indicators in your template. Do this:

Right click on the correct template. In the drop-down box, left click on "Indicators". There will be a list. Please post that list for us. Copy and paste the list or type them out for us.
Hello,does something like this makes any sense to you guys.kindly let me know..

[Text width exceeds 600 pixels - Please repost in a narrower format]




</PRE><!-- toctype = X-unknown --><!-- toctype = text --><!-- text --><!-- toctype = text --><!-- text -->
2 traders viewing now