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The Daily Fozzy Method

  • #1,061
  • Nov 22, 2006 3:18pm Nov 22, 2006 3:18pm
yup. this got s/led for me yesterday

Quoting shotshell
There appears to have been a Fozzy signal generated in the GPB/JPY cross. The price seems to have dipped after the signal. Is this what Beach Bum & other have been calling a "retracement"? I would attach a chart, but every time I try to upload one, it is rejected because of too large a size.

Shotshell
  • #1,062
  • Nov 22, 2006 3:35pm Nov 22, 2006 3:35pm
Until the current daily candle is complete and a new one has started to form, this RSI/MA cross cannot be confirmed. The current candle MUST be complete to establish a cross. If anyone decides to sell, be careful because of the current price.......see my attached chart. I took the buy signal last evening and got stopped out today for a loss of 77 pips.

PS....cool, I'll be trading the rest of the week if the appropriate T/A signals are present. It's only "Turkey Day" in the US.
Attached Image
  • #1,063
  • Nov 22, 2006 4:21pm Nov 22, 2006 4:21pm
  •  McD
  • | Joined Aug 2006 | Status: -Pecunia non olet- | 24 Posts
Yes, one could "fozzying" on the IntelliChart-Platform
(at least if you use the "desktop" version).
I use it myself.

Hope that helps,
McD


Quoting rgaulli
Hello and was wondering if the advanced Intellicharts service offers the charting provisions for allowing Bollingers outside of the price action area or is MetaTrader the way to go? There appears to be no provision for dragging down on the one service of Intellicharts I am presently paying for. Many thanks and good investing.
  • #1,064
  • Nov 22, 2006 4:40pm Nov 22, 2006 4:40pm
Quoting alcastro
Hi Jason,

Which setups do you use for your Donchian channels (how many periods)?
Does they prove to be a reliable filter?
Hi,

I use the default settings (24,3,-2,0,700). I find it proves to be a very reliable indicator of support/resistance levels for the top and bottoms. There could be intermediary levels which you could spot check for, but I find these levels to be very useful..

Jason
  • #1,065
  • Nov 23, 2006 6:40am Nov 23, 2006 6:40am
G'day PT,

Quoting PTOURNIS
What is your win/loss ratio for whatever variant of fozzy you are using?
Currently at 100% (4 from 4) but this week has been my first week of trial. I'm using both the EA and the original method with fibs, just to see what works best. Admittedly, I missed out on another 4 trades (of which 3 have proved resounding winners) because of my piddly 5k demo acct having insufficient funds for more than 2 open trades while using full lots. I've since changed to micro lots, so it should be fine from here on in.

Cheers,
Art...
  • #1,066
  • Nov 23, 2006 5:25pm Nov 23, 2006 5:25pm
Quoting BeachBum
In fact, my participation here will decrease dramatically later this month. I'll be reading regularly and posting occasionally through the month of March. In the meantime, I'll continue to contribute whatever I believe is relevant and useful, as well as learn from the informative postings of others.
Hi BB,

Your regular contributions here will be sorely missed. I hope you continue to contribute where possible as I'm sure many traders have learned valuable lessons from your posts. I know I have.

Cheers

Fozzy
  • #1,067
  • Nov 24, 2006 3:36am Nov 24, 2006 3:36am
G'day all,

I had a short trade signalled and initiated by the EA today. The trade immediately went against me and hit my SL for a small loss. However, looking at the chart, I can't see how it was a valid fozzy trade to begin with.

Am I missing something?

Cheers,
Art...

Edit: On further inspection, there does seem to be a very small and quick cross that must've happened just before the close of the bar.
Attached Image
  • #1,068
  • Nov 24, 2006 3:51am Nov 24, 2006 3:51am
art, if the second last candle completed the downward cross, then it was a valid fozzy, if you are trading pure fozzy. the yen with any combination has been mixed for me. i am almost thinking of blacklisting it

i dont track this pair and hence it hasnt showed up in my charts. i follow 12 pairs and no trade shown today.

Quoting Artamon
G'day all,

I had a short trade signalled and initiated by the EA today. The trade immediately went against me and hit my SL for a small loss. However, looking at the chart, I can't see how it was a valid fozzy trade to begin with.

Am I missing something?

Cheers,
Art...

Edit: On further inspection, there does seem to be a very small and quick cross that must've happened just before the close of the bar.
  • #1,069
  • Nov 24, 2006 4:42am Nov 24, 2006 4:42am
Quoting Artamon
G'day all,

I had a short trade signalled and initiated by the EA today. The trade immediately went against me and hit my SL for a small loss. However, looking at the chart, I can't see how it was a valid fozzy trade to begin with.

Am I missing something?

Cheers,
Art...

Edit: On further inspection, there does seem to be a very small and quick cross that must've happened just before the close of the bar.
It has been a valid trade which failed

howard
Regards
  • #1,070
  • Nov 24, 2006 5:30am Nov 24, 2006 5:30am
Quoting coolshades
art, if the second last candle completed the downward cross, then it was a valid fozzy, if you are trading pure fozzy. the yen with any combination has been mixed for me. i am almost thinking of blacklisting it.
i dont track this pair and hence it hasnt showed up in my charts. i follow 12 pairs and no trade shown today.
For the purposes of this test I am using all available pairs through the Metatrader demo account. This will, undoubtedly, show the good and bad pairs.

Cheers,
Art...
  • #1,071
  • Nov 24, 2006 6:21am Nov 24, 2006 6:21am
can anyone post indicator of fozzy system? i mean the latest and reliable one
{Link Removed}]
  • #1,072
  • Nov 24, 2006 8:45am Nov 24, 2006 8:45am
Art..............

Because you have the Tunnel on your charts...........and you asked, here's an observation: The opening price for a possible sell was 94.90 and the price level on the Tunnel was 94.60, only a 30 pip difference. In addition a sell was against a VERY strong upward trend. I don't take these trades because historically they don't work out very well, if at all. Someone sent me a PM asking what I meant when I wrote that "I will not trade into the Tunnel". This is a classic example of a trade not to take. I took the buy on the next signal because it was away from the Tunnel and WITH the trend. I set a 50 pip T/P at the first fib level and it's already been hit for a quick profit.

The Vegas Daily Tunnel is nothing more than a very strong pivot level and the fib levels are simply S/R points. But they have proven themselves to be very strong indicators that I believe deserve our attention when using the "fozzy" method. HTH!


Quoting Artamon
G'day all,

I had a short trade signalled and initiated by the EA today. The trade immediately went against me and hit my SL for a small loss. However, looking at the chart, I can't see how it was a valid fozzy trade to begin with.

Am I missing something?

Cheers,
Art...

Edit: On further inspection, there does seem to be a very small and quick cross that must've happened just before the close of the bar.
  • #1,073
  • Nov 24, 2006 8:51am Nov 24, 2006 8:51am
Scott.............I'd like you to leave this poll open until Monday night. By then everyone who wants to vote should have, at least the regulars.

Right now it looks like about a two-thirds majority want a new thread, so I hope someone is ready to start that thread and perhaps organize the important information in this one, particularly for the late comers who want all the details in a neat little package without having to view 1000+ posts.

Thanks!
Quoting smjones
BeachBum, and all Just let me know when, or if I should remove the poll or edit it if you guys want... Thanks scott


PS, please just PM me, because that would cause me to get to it quicker...
  • #1,074
  • Nov 24, 2006 9:29am Nov 24, 2006 9:29am
OK, until Monday Night Eastern Time. It looks like I can close the Poll, but not remove it.. But i will do that on Monday Night.



Quoting BeachBum
Scott.............I'd like you to leave this poll open until Monday night. By then everyone who wants to vote should have, at least the regulars.

Right now it looks like about a two-thirds majority want a new thread, so I hope someone is ready to start that thread and perhaps organize the important information in this one, particularly for the late comers who want all the details in a neat little package without having to view 1000+ posts.

Thanks!
  • #1,075
  • Nov 24, 2006 12:29pm Nov 24, 2006 12:29pm
EURUSD shot up around 8am GMT from 1.2962 up to 1.3075.

But Fozzy did not give a signal prior to this. Did any get a signal? If not, any ideas why? And what does this tell us about Fozzy?

Is it simply that it can't capture rare and sudden changes driven by news?
  • #1,076
  • Nov 24, 2006 1:57pm Nov 24, 2006 1:57pm
The Daily candle that closed 11/21 included an "up" cross of the RSI/MA. Not a genuine "fozzy" signal, but a cross non-the-less. I bought two lots with a first T/P at the second fib level. I let the second trade run for a while....and the rest is history. Right now the RSI and the MA are both VERY high............what goes up, must come down..........

PS......hopefully you caught the genuine "fozzy" buy signal on the GBP/USD on 11/21



Quoting londoner
EURUSD shot up around 8am GMT from 1.2962 up to 1.3075.

But Fozzy did not give a signal prior to this. Did any get a signal? If not, any ideas why? And what does this tell us about Fozzy?

Is it simply that it can't capture rare and sudden changes driven by news?
  • #1,077
  • Nov 25, 2006 5:16am Nov 25, 2006 5:16am
londoner - fozzy can be used in various ways. in a pure fozzy that cross wld have been invalid since it is above bb. i am still trading pure fozzy and hence ignored that cross .

beach uses the 'beach fozzy' (i am going to take credit for that coining that ) to take any cross irrespective of bb. hence he took the cross and more pips to him

beach - i might shift to your system the coming week. i closed this week with 39 pips up. frankly i could have closed with more, but i havent yet mastered letting the trades run to their s/l or t/p and hence exit early..

my account is up 11% in a month so thats good.
  • #1,078
  • Nov 25, 2006 6:23am Nov 25, 2006 6:23am
Quoting coolshades
beach uses the 'beach fozzy' (i am going to take credit for that coining that ) .
Beach Fozzy !

Love it. That's gotta be used for the modified version thread
  • #1,079
  • Nov 25, 2006 10:11am Nov 25, 2006 10:11am
cool..................excellent results for the month, you should be happy. And 39 this week is nothing to feel poorly about. I'll post my week's results later today. Clever term: "beach fozzy"..........



Quoting coolshades
londoner - fozzy can be used in various ways. in a pure fozzy that cross wld have been invalid since it is above bb. i am still trading pure fozzy and hence ignored that cross .

beach uses the 'beach fozzy' (i am going to take credit for that coining that ) to take any cross irrespective of bb. hence he took the cross and more pips to him

beach - i might shift to your system the coming week. i closed this week with 39 pips up. frankly i could have closed with more, but i havent yet mastered letting the trades run to their s/l or t/p and hence exit early..

my account is up 11% in a month so thats good.
  • #1,080
  • Nov 25, 2006 12:02pm Nov 25, 2006 12:02pm
Quoting BeachBum

Thurs-Fri 11/16-17

AUD/JPY(F) buy...............................still open (currently +20) closed -15
AUD/CAD(F) buy..............................still open (currently +50) closed +100
NZD/USD(F) buy..............................still open (currently +30) closed +75
Great week for fozzy trades:

Sun-Mon 11/19-20

USD/JPY(F) sell 2 lots........................+77 & +187
AUD/USD(F) buy 2 lots.......................+40 & +80

Mon-Tues 11/20-21

GBP/USD(F) buy 2 lots.......................+100 & +324
GBP/JPY(F) buy 1 lot.........................-77
CHF/JPY buy 2 lots............................+50 & +64

Tues-Wed 11/21-22

EUR/USD buy 2 lots...........................+50 & +254
USD/CHF sell 2 lots...........................+60 & +300
GBP/CHF sell 1 lot.............................+65

Wed-Thurs 11/22-23

USD/CAD(F) sell 1 lot.........................+50
AUD/NZD(F) buy 2 lots.......................+50 & second still open (currently +43)

Thurs-Fri 11/23-24

AUD/CAD(F) sell 1 lot.........................still open (currently -11)
EUR/AUD buy 1 lot.............................+80

Total booked this week: 1914 pips.

I think next week I'll stop trading micro lots and move up to mini lots!
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