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The Daily Fozzy Method

  • #821
  • Nov 8, 2006 4:36pm Nov 8, 2006 4:36pm
Quoting coolshades
is anyone trading this on shorter time frames.. there have been some posters who trade successully on a 4 hr time frame..


i live in the UK and trading on daily chart using fozzy is difficult, since the candle starts forming at midnight...i need my beauty sleep

comments welcome.
I am in the UK also. I use north finance as my broker and I get a new candle at 10.00PM GMT.

You can normally tell by 8.00'ish what trades you are gonna make though as the market has normally slowed down by then and doesn't move much.
  • #822
  • Nov 8, 2006 4:37pm Nov 8, 2006 4:37pm
Use a broker on GMT+2 or GMT+3, you'll get a new "daily" candle at 9PM or 10PM. A search here at FF will tell you which brokers you can use.



Quoting coolshades
is anyone trading this on shorter time frames.. there have been some posters who trade successully on a 4 hr time frame..


i live in the UK and trading on daily chart using fozzy is difficult, since the candle starts forming at midnight...i need my beauty sleep

comments welcome.
  • #823
  • Nov 8, 2006 4:38pm Nov 8, 2006 4:38pm
I'd like to have someone SHOW me good results on a 4 hour time frame.......



Quoting coolshades
is anyone trading this on shorter time frames.. there have been some posters who trade successully on a 4 hr time frame..


i live in the UK and trading on daily chart using fozzy is difficult, since the candle starts forming at midnight...i need my beauty sleep

comments welcome.
  • #824
  • Nov 8, 2006 5:53pm Nov 8, 2006 5:53pm
I tried to look for the custom ind used with fozzy but this thread got so big i can not figure out where they are at. If anyone could point it out to me or post it i would be very greatfull. I am reffering to the ind that shows if there has been a cross, regardless of the midle BB. Also if there is an indicator that would send an e-mail message when there is a cross if there is such indicator.
Thanks!
Stubbornly persistent
  • #825
  • Nov 8, 2006 6:49pm Nov 8, 2006 6:49pm
My expert indicated a fozzy trade on EURUSD. Anyone else catch this?
  • #826
  • Nov 8, 2006 7:19pm Nov 8, 2006 7:19pm
Yes, I picked it up on my indicator An placed a Short.

Quoting stockwet
My expert indicated a fozzy trade on EURUSD. Anyone else catch this?
Attached Image
  • #827
  • Nov 8, 2006 8:26pm Nov 8, 2006 8:26pm
I've been trading on Fozzy on 1 hour TF. Works good but in conjunction with MAs and S/R points

Quoting BeachBum
I'd like to have someone SHOW me good results on a 4 hour time frame.......
"Though this be madness, yet there is method in it." -Hamlet Act II
  • #828
  • Nov 8, 2006 8:57pm Nov 8, 2006 8:57pm
Quoting 4rex
Hello,


Well, is the fact that no one has replied to my post (794) reason to assume that my need for clarification/understanding of why Fozzy uses his combination of indicators a well known fact? Does everyone else that is following the Fozzy knows why and how Fozzy's indicators work together? Maybe all the backtesting that has been done is sufficient but I guess I like to know why I am doing what I am doing in order to be able to adjust my methods to fit new circumstances. Please accept my apologies if my questions are clear to all followers of Fozzy.

4rex,
Have a look at post#508 by Accrete and his earlier posts that he mentions. #508 may have some good info for you.
Cheers
  • #829
  • Nov 8, 2006 9:13pm Nov 8, 2006 9:13pm
Somehow I just knew YOU were watching us "fozzy" players from the shadows and trading somewhere in the background........



Quoting smjones
Yes, I picked it up on my indicator An placed a Short.
  • #830
  • Nov 8, 2006 9:16pm Nov 8, 2006 9:16pm
OK Gee Seven...............would you care to elaborate on this and perhaps even post a chart. This is an opportunity to make me a "believer"....

Quoting Gee Seven
I've been trading on Fozzy on 1 hour TF. Works good but in conjunction with MAs and S/R points
  • #831
  • Nov 9, 2006 3:43am Nov 9, 2006 3:43am
Have you found very few signals this week or is it me?
  • #832
  • Nov 9, 2006 4:24am Nov 9, 2006 4:24am
Stockwet/smjones,


I too caught the cross but it just managed to created. Also the eur/uds is in an uptrend and the BB outer bands are spread wide, a sign of a trend continuation so imho it seems like a questionable trade. I am seeing/interpreting the chart correctly? What do other fozziers see?
All 4 1 and 1 4 All
  • #833
  • Nov 9, 2006 5:55am Nov 9, 2006 5:55am
Quoting Gee Seven
I've been trading on Fozzy on 1 hour TF. Works good but in conjunction with MAs and S/R points
Gee Seven - I have also been following Fozzy on one hour from around 7pm GMT onwards. I have found it to be good at getting entry signals but knowing where to exit seems trickier.

I have only been using the original fozzy with no other indicators but would like to see if adding more indicators could help me at all.

Which combination of other indicators do you use?
  • #834
  • Nov 9, 2006 6:02am Nov 9, 2006 6:02am
Yeah, it looks like there was a failed Fozzy earlier this week, too. I'm using the fozzy alt method for entries - setting a buy or sell stop above or below the signal bar. I like the results of this when I backtested it.

Quoting 4rex
Stockwet/smjones,


I too caught the cross but it just managed to created. Also the eur/uds is in an uptrend and the BB outer bands are spread wide, a sign of a trend continuation so imho it seems like a questionable trade. I am seeing/interpreting the chart correctly? What do other fozziers see?
  • #835
  • Nov 9, 2006 8:51am Nov 9, 2006 8:51am
wilf - you have a good point and i was thinking of that later on... i would imagine 00.00 GMT to 8.00 gmt would be sluggish since only the asian period is open and generally from what i understand, the maximum impact to forex trade is when london opens and then later on new york kicks in.. so even a 8 am trade shdnt hurt.

btw i use cmc.. let me check out the broker you mentioned.

the 2nd tht i had going on was.. if everyone all over the globe is trading on daily charts using fozzy.. then shdnt the candle start at 00.00 local time? in which case most people who have a day job shd have the same constraint as me..

i shd forewarn that you will be hardpressed to find a rookie rookier than me hence apologies in advance for stupid queries/posts.
  • #836
  • Nov 9, 2006 9:05am Nov 9, 2006 9:05am
i too didnt get any signal other than the eur/usd signal on 8th aug.. but that cross reversed pretty quickly..

i am following using pure fozzy using no other indicators..

i had a misread gbpjpy signal, (post 795), but that wasnt a fozzy really
  • #837
  • Nov 9, 2006 9:17am Nov 9, 2006 9:17am
Many traders take the position that the "trading day" ends when the New York session ends at 5PM ET. The time between that close and the open of the Asian markets at 8PM ET is generally very slow, not much happens. From the "fozzy" perspective, this is a good time to get a new "daily" candle and begin a new trading day. So when fozzy gets his new daily at GMT 00:00 it's 7PM ET. Some of us choose to use brokers who provide a platform that produces a new daily at 6PM, 5PM or even 4PM ET. There's really not much difference in the signal generated at these different times. Personally I like a new daily at 5 or 6 PM ET because it fits well with my trading schedule.


Quoting coolshades
wilf - you have a good point and i was thinking of that later on... i would imagine 00.00 GMT to 8.00 gmt would be sluggish since only the asian period is open and generally from what i understand, the maximum impact to forex trade is when london opens and then later on new york kicks in.. so even a 8 am trade shdnt hurt.

btw i use cmc.. let me check out the broker you mentioned.

the 2nd tht i had going on was.. if everyone all over the globe is trading on daily charts using fozzy.. then shdnt the candle start at 00.00 local time? in which case most people who have a day job shd have the same constraint as me..

i shd forewarn that you will be hardpressed to find a rookie rookier than me hence apologies in advance for stupid queries/posts.
  • #838
  • Nov 9, 2006 9:53am Nov 9, 2006 9:53am
beach thanks a lot for your patience..

btw it might look like i dont do anything else than post, but i multitask
  • #839
  • Nov 9, 2006 10:22am Nov 9, 2006 10:22am
From my point of view the fozzy trade at the Euro/usd continues to be valid. It has not hit stop and it is still below the month's high...or am i reading something wrong?
  • #840
  • Nov 9, 2006 11:45am Nov 9, 2006 11:45am
Quoting alcastro
From my point of view the fozzy trade at the Euro/usd continues to be valid. It has not hit stop and it is still below the month's high...or am i reading something wrong?
Previous day's high is the stop loss. I took that trade and lost on it, but I also took a trade on GBP/CHF and has gone in my favor enough for me to make up for the losson EUR/USD and still have some profit.
So far so good.
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