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The Daily Fozzy Method

  • #761
  • Nov 5, 2006 5:15am Nov 5, 2006 5:15am
Ptournis,

The usd/jpy in my weekly chart shows the 10/15 and 10/22 bars closing lower than the 10/8 bar but the 10/29 closed 48 pips higher. Am I incorrect in considering this as a retracement? My interpretation is that the uptrend that started back on 6/4 remains active. Then when I go back to the daily chart I see that the Fozzy and the rest of my confirmations posted before tell me to go long. What do you think?

On the aud/jpy I can't tell you what I see because for some reason I can not get a clear chart from my server. By the way, thanks for comments....it helps me by questioning my own reasoning.

All 4 1 and 1 4 All
  • #762
  • Nov 5, 2006 9:27am Nov 5, 2006 9:27am
Don't know about anyone else but I have a lot of buy signals coming up (RSI crossing EMA) with most of the major pairs.

Also though looking at a 4 hour charts most have already started to move in the opposite direction.

I think maybe the news on Friday probably triggered a lot of these signals but I think entering at the moment maybe a bit risky.

I think I will probably sit Monday out and see what happens.
  • #763
  • Nov 5, 2006 9:44am Nov 5, 2006 9:44am
Willf,

Which of the four major pairs are you referring to? One observation that I have made is that the gbp/usd is reaching a major resistance that goes back to at least to 4/06. The eur/usd seems choppy to me since May so I am hesistant. The usd/chf weekly shows an uptrend though not that definitive but the daily meets my criteria(see my recent posts). And the usd/jpy uptrend on the weekly and meets my criteria on the daily. What do you think?
All 4 1 and 1 4 All
  • #764
  • Nov 5, 2006 12:44pm Nov 5, 2006 12:44pm
Hi 4rex,

How do you think of those pins bar on weekly charts of GBPUSD EURUSD and USDJPY?
aha

Quoting 4rex
Willf,

Which of the four major pairs are you referring to? One observation that I have made is that the gbp/usd is reaching a major resistance that goes back to at least to 4/06. The eur/usd seems choppy to me since May so I am hesistant. The usd/chf weekly shows an uptrend though not that definitive but the daily meets my criteria(see my recent posts). And the usd/jpy uptrend on the weekly and meets my criteria on the daily. What do you think?
Target: Trading naked.
  • #765
  • Nov 5, 2006 12:46pm Nov 5, 2006 12:46pm
BTW, I did a manual backtesting on GBPUSD back to July. 11 crosses, 8 of them worked out. Nice system!

Does anyone has the statistics of other pairs?
Target: Trading naked.
  • #766
  • Nov 5, 2006 1:24pm Nov 5, 2006 1:24pm
I review the MACD to obtain weekly trend. The trend on the weekly for GBP/USD is long and I will not trade the short this signal. The weekly trend on the USD/CHF is long and the signal is long so I will trade it. The EUR/USD weekly trend in short and the signal is to go short, so I will trade this. The USD/JPY weekly trend is short and the signal is long so I will no trade this. My two cents.
  • #767
  • Nov 5, 2006 3:19pm Nov 5, 2006 3:19pm
Quoting BeachBum
Tues-Wed 10/24-25

EUR/GBP(F).............................still open (currently+5) Stop & reverse on 10/30 (-11) Closed second trade on 10/31 (+20), net gain +9

Wed-Thurs 10/25-26

EUR/CHF(F).............................-43
GBP/CHF.................................+45

Thurs-Fri 10/26-27

USD/JPY.................................+100
EUR/CAD(F).............................still open (currently B/E) Closed +51
AUD/JPY.................................still open (currently +15) Closed +25
AUD/CAD................................still open (currently +15) Closed +55
CAD/JPY.................................still open (currently +35) Closed +110
EUR/AUD(F).............................still open (currently -40) Closed -66
GBP/CHF(F).............................still open (currently +15) Closed -67
Sun-Mon 10/29-30

EUR/JPY(F)..............................+56
CHF/JPY(F).............................+30
NZD/USD................................+50

Mon-Tues 10/30-31

USD/CAD................................+84

Tues-Wed 10/31-11/1

AUD/NZD(F)............................+68
GBP/CHF(F).............................-71

Wed-Thurs 11/1-2

AUD/JPY.................................Still open (Currently +16)

Thurs-Fri 11/2-3

EUR/AUD(F).............................+55
EUR/CHF(F).............................Still open (Currently +30)

Total booked this week: 389 pips.

Another good week...............thanks fozzy!
  • #768
  • Nov 5, 2006 3:39pm Nov 5, 2006 3:39pm
Is this question for me? If so, I am trading this method on a micro account with Oanda along with another system I am forward testing. I am not tracking the interest amounts as part of this test, just pips gained or lost. I would have to examine each trade in my account to compile this, something I am not taking the time for right now.



Quoting PipRipper
I am curious... how much did you make/pay in interest if you held through 5PM EST?
  • #769
  • Nov 5, 2006 3:44pm Nov 5, 2006 3:44pm
Quoting BeachBum
Sun-Mon 10/29-30

EUR/JPY(F)..............................+56
CHF/JPY(F).............................+30
NZD/USD................................+50

Mon-Tues 10/30-31

USD/CAD................................+84

Tues-Wed 10/31-11/1

AUD/NZD(F)............................+68
GBP/CHF(F).............................-71

Wed-Thurs 11/1-2

AUD/JPY.................................Still open (Currently +16)

Thurs-Fri 11/2-3

EUR/AUD(F).............................+55
EUR/CHF(F).............................Still open (Currently +30)

Total booked this week: 389 pips.

Another good week...............thanks fozzy!
Well done beachbum,u have a good result.I am looking to see what happens this week when i use my newly discovered system in combination with yours.I have backtested and a very good result was encouraging.I will post my trades as soon as i close them as this week goes on.Thumbs UP!!!
  • #770
  • Nov 5, 2006 4:21pm Nov 5, 2006 4:21pm
Excellent results BB.

I also took most of those trades as well (only on a demo account) and came in with 347 pips for the week.

I think we are probably using the same setup. Basic rsi/ema cross (without the bollinger bands) and using the Vegas daily fibs as take profit areas.

Just curious what the (F) next to some of your trades indicates?
  • #771
  • Nov 5, 2006 4:29pm Nov 5, 2006 4:29pm
Quoting alcastro
Does anybody knows where did Fozzy go? He creayed this system..but now it seems like he vanished from th eface of the planet....or is he drinking margaritas on the deck of his yatch in the caribbean?
Hi alcastro,

Unfortunately I am not drinking margaritas on my yacht although it does seem like a good goal to aim for. I'm sure I could get used to that lifestyle......

I still read all the posts on this thread. As I've said before, this idea has been picked up by some very smart people who have adapted it to their own circumstances, which is exactly what should happen. Each trader is an individual with their own personal/financial/other circumstances which will affect the way they trade. Me, I'm still trading this method the way I posted it at the start of this thread. I have not adapted it using any of the additional timeframes, indicators, signals etc that have been posted so far. The only alteration I have made has been in the area of exits. I don't feel the need to make changes because I am happy with the way the system fits MY situation. That's not to say that it will never change (which is why I continue to read all the posts) but I haven't needed to change what I do just yet.

Rest assured, when I've got something to contribute I will. At this stage I'm just enjoying reading the different interpretations that traders apply to this method.

Continued good trading to all.

Cheers

Fozzy
  • #772
  • Nov 5, 2006 4:31pm Nov 5, 2006 4:31pm
Well done will..................the (F) indicate a "true" fozzy trade, that is meeting the requirement of Bollinger Band useage. It's there for comparison purposes. And yes, we are using the same setup.



Quoting willf
Excellent results BB.

I also took most of those trades as well (only on a demo account) and came in with 347 pips for the week.

I think we are probably using the same setup. Basic rsi/ema cross (without the bollinger bands) and using the Vegas daily fibs as take profit areas.

Just curious what the (F) next to some of your trades indicates?
  • #773
  • Nov 5, 2006 4:36pm Nov 5, 2006 4:36pm
G'day fozzy............

I sincerely hope you reach your goal, sooner rather than later.

And I think fozzy's comments are a tremendous testimony to just how good his method of trading really is. You cannot beat the "basic fozzy"!


Quoting fozzy
Hi alcastro,

Unfortunately I am not drinking margaritas on my yacht although it does seem like a good goal to aim for. I'm sure I could get used to that lifestyle......

I still read all the posts on this thread. As I've said before, this idea has been picked up by some very smart people who have adapted it to their own circumstances, which is exactly what should happen. Each trader is an individual with their own personal/financial/other circumstances which will affect the way they trade. Me, I'm still trading this method the way I posted it at the start of this thread. I have not adapted it using any of the additional timeframes, indicators, signals etc that have been posted so far. The only alteration I have made has been in the area of exits. I don't feel the need to make changes because I am happy with the way the system fits MY situation. That's not to say that it will never change (which is why I continue to read all the posts) but I haven't needed to change what I do just yet.

Rest assured, when I've got something to contribute I will. At this stage I'm just enjoying reading the different interpretations that traders apply to this method.

Continued good trading to all.

Cheers

Fozzy
  • #774
  • Nov 6, 2006 6:41am Nov 6, 2006 6:41am
Another spectacular week for you, congrats. How is everything? I've been sick for the last week and only picked up a few trades, most of which turned profitable.

Quoting BeachBum
Sun-Mon 10/29-30

...

Total booked this week: 389 pips.

Another good week...............thanks fozzy!

Here's a cool chart.
http://www.aforexblog.com/wp-content...p-11-06-06.gif

This sucker is interesting, mainly because of the cross I marked. RSI hit the average line as if it were testing grounds. Do I have enough power to make it? I've been trending down for a long time now and I really feel like moving up- as if it were talking. Then the strong looking cross over the weekend seems to bring it back to the upper side of support (or resistance?).
So far so good.
  • #775
  • Nov 6, 2006 7:07am Nov 6, 2006 7:07am
Hello paul....

This is a pair I have never felt comfortable trading............and it's no different with the "fozzy" method. I did a SAR last week to save a few pips and have decided only to trade this pair with the trend and use the BB filter. Fewer trades, better results..........


Quoting paul2
Another spectacular week for you, congrats. How is everything? I've been sick for the last week and only picked up a few trades, most of which turned profitable.




Here's a cool chart.
http://www.aforexblog.com/wp-content...p-11-06-06.gif

This sucker is interesting, mainly because of the cross I marked. RSI hit the average line as if it were testing grounds. Do I have enough power to make it? I've been trending down for a long time now and I really feel like moving up- as if it were talking. Then the strong looking cross over the weekend seems to bring it back to the upper side of support (or resistance?).
  • #776
  • Nov 6, 2006 9:18am Nov 6, 2006 9:18am
hi Fozzy,

is it possible you could mention your trades here as you make them weekly as a means of comparing how we are doing.

thanks
  • #777
  • Nov 6, 2006 9:26am Nov 6, 2006 9:26am
Quoting BeachBum
Sun-Mon 10/29-30

EUR/JPY(F)..............................+56
CHF/JPY(F).............................+30
NZD/USD................................+50

Mon-Tues 10/30-31

USD/CAD................................+84

Tues-Wed 10/31-11/1

AUD/NZD(F)............................+68
GBP/CHF(F).............................-71

Wed-Thurs 11/1-2

AUD/JPY.................................Still open (Currently +16)

Thurs-Fri 11/2-3

EUR/AUD(F).............................+55
EUR/CHF(F).............................Still open (Currently +30)

Total booked this week: 389 pips.

Another good week...............thanks fozzy!
Hello Breachbum,i will like to ask you if you put into consideration the position of Bollinger band as stated by Fozzy when placing your trades or u just make use of the RSI and MA crossing alone.Thanks
  • #778
  • Nov 6, 2006 9:39am Nov 6, 2006 9:39am
The answer to your question is in my previous posts. In fact, if you look back just a few posts................you will find your answer.......



Quoting pharmadap
Hello Breachbum,i will like to ask you if you put into consideration the position of Bollinger band as stated by Fozzy when placing your trades or u just make use of the RSI and MA crossing alone.Thanks
  • #779
  • Nov 6, 2006 9:48am Nov 6, 2006 9:48am
Hi Fozzy,

thanks for your reply. I started testing your system this Sunday with the trade signals that were generated in the four main pairs. I was tempted to watch the weekly trend, but decided to go with a "pure fozzy trade". That is, if the signals are there in the daily chart just jump in with the appropriate stops. The only "tweaking" I did is I checked my positions this moring, before leaving to my "real" job, and since GBP/USD had gone above 40 pips, I closed half of my position there and moved my stop to B/E.
  • #780
  • Nov 6, 2006 1:06pm Nov 6, 2006 1:06pm
for anyone interested.
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