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Attachments: The 4 Hour Fozzy Method
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The 4 Hour Fozzy Method

  • #61
  • Edited 11:40am May 16, 2007 11:05am | Edited 11:40am
I just closed out +128 pips today!

Live trades on 4H since 5/11:

# of trades = 12
# of winners = 9
# of lossers = 3
Total pips loss = -42
Total pips gained = +240
  • #62
  • May 16, 2007 11:46am May 16, 2007 11:46am
You should be a happy trader; nice to see someone using the 4 Hour Fozzy successfully. Well done!

Quoting ramrocket
I just closed out +128 pips today!

Live trades on 4H since 5/11:

# of trades = 12
# of winners = 9
# of lossers = 3
Total pips loss = -42
Total pips gained = +240
  • #63
  • May 16, 2007 8:27pm May 16, 2007 8:27pm
Hey BB.

Just came across this thread. Nice to see you still very active on Fozzy. It is an attestment to its creator.

I also am doing something similar to you. When able I try to watch the 4h when expecting a fozzy cross on the daily. It does allow a tighter entry and reduce the risk exposure.

HOWEVER, I do want to say that sometimes the 4h will turn and the cross on the daily won't occur for a couple days. This is the time that proper money management comes into play and keeping your stops in place.

My addition to your great posts would be that on the 4h I also utilize a 5,3,3 stochs as a confirmation.

Take care,
Prov
  • #64
  • May 17, 2007 8:21am May 17, 2007 8:21am
OK............how about posting a chart showing HOW you do this. I enjoy learning from my fellow Fozzy traders and FF members. Thanks!

Quoting pdhawan
Hey BB.

Just came across this thread. Nice to see you still very active on Fozzy. It is an attestment to its creator.

I also am doing something similar to you. When able I try to watch the 4h when expecting a fozzy cross on the daily. It does allow a tighter entry and reduce the risk exposure.

HOWEVER, I do want to say that sometimes the 4h will turn and the cross on the daily won't occur for a couple days. This is the time that proper money management comes into play and keeping your stops in place.

My addition to your great posts would be that on the 4h I also utilize a 5,3,3 stochs as a confirmation.

Take care,
Prov
  • #65
  • May 17, 2007 4:19pm May 17, 2007 4:19pm
Quoting ramrocket
Hi guys, I thought I will post this here. I studied the daily version but I've been trading live on 4H. I took the same same Fozzy configuration and placed it on my 4H chart and saw alot of trade opportunities today 10AM MTN but I went with EUR/JPY.

Fozzy 4H works! I just used MACD for confirmation.

+92pips gained.
Hi Ramrocket,

If you don,t mind, could you please post your .tpl file please. I am having difficulty using your MACD settings

Thanks
  • #66
  • May 17, 2007 5:19pm May 17, 2007 5:19pm
Quoting vipatel
Hi Ramrocket,

If you don,t mind, could you please post your .tpl file please. I am having difficulty using your MACD settings

Thanks
Hi V,

I think .tpl is for metatrader. I don't use Metatrader. Sorry.
  • #67
  • May 17, 2007 6:53pm May 17, 2007 6:53pm
Quoting BeachBum
OK............how about posting a chart showing HOW you do this. I enjoy learning from my fellow Fozzy traders and FF members. Thanks!
I surely will on the next cross. Almost had it on several currencies on the last bar.

I track the following GBP/USD, GBP/JPY, GBP/CHF, EUR/USD, EUR/JPY AND USD/CHF. I know I am a little heavy on GBP. I am also watching FOZZY on SP500...not taken any trades on that yet though.

BB. Let me know which pairs you track.

Most of the currencies appear to be setting up for crosses very soon.

I will post pics on the 4h that I take. Probably this evening in 2 or 6hrs from now.

Thanks
  • #68
  • May 18, 2007 1:07am May 18, 2007 1:07am
Here is a trade entry on a Fozzy 4hr cross on EUR/JPY. This is an attempt to capture an early cross from the Daily.

Let me know what you think. I entered Short at 163.55
Attached Image
  • #69
  • May 18, 2007 4:06am May 18, 2007 4:06am
Hi BeachBum

Can I ask you for a piece of advice please. I'm very new to forex and I've been looking for a system which doesn't glue me to a computer, so in many ways Fozzy seems ideal. I've downloaded the e-book for noobs and the simplicity of the system is very appealling for someone who knows very little but reading both this thread and the original one I can see that most people seem to be trading several pairs simultaneously and I'm not sure that my pockets are deep enough for that. In your opinion is it possible to make a profit trading just 1 or 2 pairs or is trading all the crosses an essential part of the strategy.

Thanks
  • #70
  • May 18, 2007 8:52am May 18, 2007 8:52am
Quoting bundubill
Hi BeachBum

Can I ask you for a piece of advice please. I'm very new to forex and I've been looking for a system which doesn't glue me to a computer, so in many ways Fozzy seems ideal. I've downloaded the e-book for noobs and the simplicity of the system is very appealling for someone who knows very little but reading both this thread and the original one I can see that most people seem to be trading several pairs simultaneously and I'm not sure that my pockets are deep enough for that. In your opinion is it possible to make a profit trading just 1 or 2 pairs or is trading all the crosses an essential part of the strategy.

Thanks
The pairs that has been very profitable for me are EUR/JPY, USD/CHF, GBP/USD, EUR/USD. I also trade the JPY crosses.

For sure you can profit trading 1 or 2 pairs. Start with EUR/USD & GBP/USD.
  • #71
  • May 18, 2007 9:49am May 18, 2007 9:49am
Quoting pdhawan
Here is a trade entry on a Fozzy 4hr cross on EUR/JPY. This is an attempt to capture an early cross from the Daily.

Let me know what you think. I entered Short at 163.55
Hi pdhawan,
You may have already answered this if you have I apologize; What is your criteria to exit on a trade thats in profit ? Thats what I'm stumped on at the moment. I would appreciate any feed back that you or any others that are trading this method could give. Thanks in advance....
  • #72
  • May 18, 2007 10:40am May 18, 2007 10:40am
Quoting amaruenterprise
Hi pdhawan,
What is your criteria to exit on a trade thats in profit ? Thats what I'm stumped on at the moment.
Once my Eur/Jpy went +50 I moved to Break Even. As you can see today it reversed all the way back up and I exited at +0.

As for exiting, I move my stops to the high of the previous candle. I look for new levels before moving. Think of it as a step ladder. Price oftens move to a new step and moves around there for a little while and then goes to the next step. I hope this makes sense.

I noticed your quote from IGOR. He uses the same exit strategy as this. I do end up giving back some pips but allow the trade to run longer.

My #1 rule is to move as soon as possible to BE.

Stops: When entering on 4h my stops are the high of the last bar that gave my entry but no more than 50% of daily average.

Thanks
Prov
  • #73
  • May 18, 2007 10:44am May 18, 2007 10:44am
beach,

when you take a 4 hr fozzy trade, would your tps and sls be based on 4 hr charts or daily charts?

and also i think the eurusd is a good 4 hr fozzy entry on the next candle.. what do you think?



Quoting BeachBum
OK............how about posting a chart showing HOW you do this. I enjoy learning from my fellow Fozzy traders and FF members. Thanks!
  • #74
  • Edited 11:03am May 18, 2007 10:44am | Edited 11:03am
New signals. eur/usd and gbp/usd are giving fozzy signals on the 4hr. Eur/usd daily has already crossed.

If both these on 4hr remain valid I will be taking this trade in 2hr 15 minutes.
  • #75
  • May 18, 2007 11:22am May 18, 2007 11:22am
pd, may i know what you use as tps?didnt fullu understand your earlier post

Quoting pdhawan
New signals. eur/usd and gbp/usd are giving fozzy signals on the 4hr. Eur/usd daily has already crossed.

If both these on 4hr remain valid I will be taking this trade in 2hr 15 minutes.
  • #76
  • May 18, 2007 2:05pm May 18, 2007 2:05pm
Here are my new trades based on a 4 hr entry. Todays daily on cable will probably close with a small pin bar.
Attached Images
  • #77
  • May 18, 2007 2:18pm May 18, 2007 2:18pm
Quoting coolshades
pd, may i know what you use as tps?didnt fullu understand your earlier post
Well they say a picture is worth a thousand words. This 4h chart shows the entry on 4h Fozzy. Each arrow shown is that of the open of a new daily bar. Stops are moved according. I will post the daily as well.

You can see the entry was on April 9th 2007. Once an entry is made on the 4h I wait for the daily to also give the Fozzy signal. Once this happens I move to the daily and IGNORE all further Fozzy signals on the 4h.

This is how to let your profits run!!!!

Each person is different.....your TP is a personal choice. Yes I do give up pips on the smaller moves....but I really get to capture the bigger moves.
Attached Image
  • #78
  • May 18, 2007 2:23pm May 18, 2007 2:23pm
Here is my Daily chart for the same time period. Exit was at 2.0012. This is almost 400 pips on 1 trade. You will notice from the 4h. I got in earlier by not waiting for the daily close AND moved to break even before the close of the first daily fozzy signal.

OK BB, where are you....see all my posts....<grin>
Attached Image
  • #79
  • May 18, 2007 2:52pm May 18, 2007 2:52pm
thanks.. and how do you set your stop loss for the entry? from what i understand so far, once you enter, you keep moving stops to previous low and if a trade is + 50 move to be.. is that the same for process for 4hr and daily as well?


thks

Quoting pdhawan
Here is my Daily chart for the same time period. Exit was at 2.0012. This is almost 400 pips on 1 trade. You will notice from the 4h. I got in earlier by not waiting for the daily close AND moved to break even before the close of the first daily fozzy signal.

OK BB, where are you....see all my posts....<grin>
  • #80
  • May 18, 2007 5:22pm May 18, 2007 5:22pm
Early entry is obtained from 4h. After that stops are moved according to daily.

Stop is between 50-75 based on 4h candles. This I am still working on.
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