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The Daily Fozzy Method 2,814 replies

The 4 Hour Fozzy Method 233 replies

The Fozzy EA 389 replies

Fozzy Alt... one more approach to the Daily Fozzy Method 40 replies

Monthly Fozzy Method 9 replies

Attachments: FOZZY Method CROSSES
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FOZZY Method CROSSES

NZD/USD +25
GBP/JPY +52
GBP/CHF +31
AUD/JPY +9

Now this gets me excited about getting out of bed in the mornings....Thanks Fozzy
It's All About Attitude ...
how do you set ur tp levels?


Quoting billser
NZD/USD +25
GBP/JPY +52
GBP/CHF +31
AUD/JPY +9

Now this gets me excited about getting out of bed in the mornings....Thanks Fozzy
Quoting coolshades
how do you set ur tp levels?
I don't set a TP just yet.....I need to figure that out. I do a stop lose of the low/high of the last days candle and i place a trade at the cross but he TP has me stumped....

Any thoughts would be appreciated.

Billser
It's All About Attitude ...
Quoting billser
NZD/USD +25
GBP/JPY +52
GBP/CHF +31
AUD/JPY +9

Now this gets me excited about getting out of bed in the mornings....Thanks Fozzy


hi sir

would u please tell me what was your stop for GBP/CHF ??

thanks
billser..............I've enjoyed following your Fozzy trading activity. So, here are a few observations about T/P and MM.

The Fozzy method will eat you alive if you don't have a solid Risk/Reward plan along with good basic money management. Successful Fozzy trading requires deep stop losses because you are trading on a Daily chart, and if you don't have profit targets that match the stops...............well, that's when the small gains will disappear quickly with one losing trade.

IMO you need at least an R/R of 1:1, preferably better; and it doesn't matter if you are using one lot or five per trade, the math should remain constant. If you're trading the GBP/USD, and your S/L is 80, you MUST plan for a T/P of at least 80! That doesn't mean you can't move to B/E when the trade is 40 or 50 in profit. In fact, that's the way I prefer to trade it. Just be sure you protect yourself.......and allow the trades to run for maximum profit; in some cases that can hundreds of pips per trade. HTH!

Quoting billser
I don't set a TP just yet.....I need to figure that out. I do a stop lose of the low/high of the last days candle and i place a trade at the cross but he TP has me stumped....

Any thoughts would be appreciated.

Billser
Quoting sourour
hi sir

would u please tell me what was your stop for GBP/CHF ??

thanks
2.4078 was my SL on GBP/CHF
It's All About Attitude ...
Quoting BeachBum
billser..............I've enjoyed following your Fozzy trading activity. So, here are a few observations about T/P and MM.

The Fozzy method will eat you alive if you don't have a solid Risk/Reward plan along with good basic money management. Successful Fozzy trading requires deep stop losses because you are trading on a Daily chart, and if you don't have profit targets that match the stops...............well, that's when the small gains will disappear quickly with one losing trade.

IMO you need at least an R/R of 1:1, preferably better; and it doesn't matter if you are using one lot or five per trade, the math should remain constant. If you're trading the GBP/USD, and your S/L is 80, you MUST plan for a T/P of at least 80! That doesn't mean you can't move to B/E when the trade is 40 or 50 in profit. In fact, that's the way I prefer to trade it. Just be sure you protect yourself.......and allow the trades to run for maximum profit; in some cases that can hundreds of pips per trade. HTH!
Hi BeachBum,

I completely understand what you are saying and I thank you for it.

My first trade with Fozzy was on May 3rd 2007 and I had placed 2 trades one of which was EUR/AUD. Less than 30 minutes into the trade my stop loss was whacked out of the ball park for a loss of 90 pips. The other trade was EUR/JPY with a profit (ha) of 9 pips.

Leaving my excitement about gaining pips to one side, I do know that I have a long way to go before I perfect the Fozzy method.

1. Getting in has now become second nature.

2. Putting the SL where it is supposed to be I have become comfortable with.

3. The TP is my next challenge and my thoughts are this. I place a trade at the beginning of the candle. I take 50% off the table to satisfy my inner nervousness. I leave the other half to run its coarse with the SL moved to BE or a few pips above BE.

The forex factory has been the greatest place to find for learning systems and having amazing support from folks such as you.

Thanks.

Billser
It's All About Attitude ...
billser, I recall BB mentioning somewhere he avoids AUD because of his experience with this currency. I am sure BB can comment on that if I am mistaken.
I am very cautious when trading any AUD pair...........but I will trade them........

Quoting pdhawan
billser, I recall BB mentioning somewhere he avoids AUD because of his experience with this currency. I am sure BB can comment on that if I am mistaken.
I've never posted before, so I hope it works. 16 trades this week with 12 winners using the Fozzy method. +363 pips. Thanks Fozzy!!
Quoting sks
I've never posted before, so I hope it works. 16 trades this week with 12 winners using the Fozzy method. +363 pips. Thanks Fozzy!!
Well done, thats great work. Are you using the original Daily or a combo of the 4 hour Fozzy and Daily.......and what SL and TP do you work with...thanks

Keep it up.


EDIT: Where is Fozzy these days...anyone know?????
It's All About Attitude ...
I went over my trades this morning to figure out what I could be doing to improve my pips and $ per pip ratio

Answer.........STAY IN LONGER......

See PDF

EDIT: Last 2 trades where stupid trades....I was bored and had the urge to do something....(next time I will take the dog for a walk if I get that urge again)
Attached File(s)
File Type: pdf FOZZY TRADES.pdf   7 KB | 543 downloads
It's All About Attitude ...
Anyone up for fozzy chat realtime every evening? I have a free to all chatroom on my site and I think it would really help us all find the signals together and for the fozzy noobs (like myself hehe) to learn how to take advantage of the system better. Like, I took the chf/jpy signal which I later found out to be wrong (Trail stopped out at +1 though). I would have liked to be warned that it wasn't a good fozzy trade by more experienced fozzy traders.

I doubt it if I'm allowed to post the link to the chatroom here without getting trouble so if you want to join in, please check out my profile, go to my homepage and chose chat from the menu. I look forward to talking fozzy with you guys.
Quote
Well done, thats great work. Are you using the original Daily or a combo of the 4 hour Fozzy and Daily.......and what SL and TP do you work with...thanks

Keep it up.

I've used just the daily charts and I set my SL and TP at 70% of the ATR(20). Sometimes I close the trades out early to lock in profits.
Quoting billser
I went over my trades this morning to figure out what I could be doing to improve my pips and $ per pip ratio

Answer.........STAY IN LONGER......

See PDF

EDIT: Last 2 trades where stupid trades....I was bored and had the urge to do something....(next time I will take the dog for a walk if I get that urge again)
That's fu@%ing outstanding billser, congrats......
Quoting amaruenterprise
That's fu@%ing outstanding billser, congrats......
Thanks for the encouragement......

Dam I hate the weekends now.....
It's All About Attitude ...
billser, very nice end pip result!!! I hope you don't mind the couple comments below. They are meant to be constructive and thought provoking.

I looked at a couple of the loser you had. For example EUR/AUD. If you look at the Fozzy cross the lines were running almost parallel. This resulted in 3 crosses on the Daily in 3 days. (reference 5/3, 5/4, 5/7)

The fact that the 1st cross was shallow would have alerted me to beware, 2nd cross could have been ruled out using a stoch 5,3,3 or perhaps another confirming indicator, and the last would be a valid and profitable trade (I couldn't find the short on your list).

What is AWESOME regarding your log is that it shows you don't have to make a lot of pips on every trade. You ended two weeks with over 500 pips. TOTALLY COOL.

Prov
Quoting pdhawan
billser, very nice end pip result!!! I hope you don't mind the couple comments below. They are meant to be constructive and thought provoking.

I looked at a couple of the loser you had. For example EUR/AUD. If you look at the Fozzy cross the lines were running almost parallel. This resulted in 3 crosses on the Daily in 3 days. (reference 5/3, 5/4, 5/7)

The fact that the 1st cross was shallow would have alerted me to beware, 2nd cross could have been ruled out using a stoch 5,3,3 or perhaps another confirming indicator, and the last would be a valid and profitable trade (I couldn't find the short on your list).

What is AWESOME regarding your log is that it shows you don't have to make a lot of pips on every trade. You ended two weeks with over 500 pips. TOTALLY COOL.

Prov
Thank you for your comments and suggestions. I see what you are saying about the stoch for comfirmation..

Have a great weekend
It's All About Attitude ...
Quoting billser
I went over my trades this morning to figure out what I could be doing to improve my pips and $ per pip ratio

Answer.........STAY IN LONGER......

See PDF

EDIT: Last 2 trades where stupid trades....I was bored and had the urge to do something....(next time I will take the dog for a walk if I get that urge again)
Billser, nice trades! I have a question though. On trades like 5/7, AUDUSD, on my charts (Alpari UK), I don't have an RSI cross at the end of 5/7, but only at the end of 5/8. Ditto for GBPCHF, and most of your other trades (on that day at least). So my question is, is it just a data feed difference--I mean, do you have a clear cross, or are you just trading at the touch of the lines? My dailies start at 6PM ET (GMT+1), and my broker does not have a Sunday bar.
pd, by this " look at the Fozzy cross the lines were running almost parallel."

do you mean rsi and ma were running parallell or something else?
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