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The 4 Hour Fozzy Method

  • #101
  • Edited 1:57pm May 20, 2007 1:18pm | Edited 1:57pm
Now adding daily stoch, too many indicators
Regards
  • #102
  • May 20, 2007 1:38pm May 20, 2007 1:38pm
Buuut!!

notice what happens when both k% lines correspond , there is a much more noticable drive behind the price and thats the beauty of combining these two stochs ...again where the stoch lines separate after leaving the overbought 80 zone, then the move doesn't quite have the power behind it.

this is purely down to having two time frames working for you..even if you dont have them on you charts permanently they are still worth a check..

Howard simple is definately best and thanks for posting the chart

thanks

Rye
  • #103
  • May 20, 2007 1:44pm May 20, 2007 1:44pm
Quoting Ryecatcher
Buuut!!

notice what happens when both k% lines correspond , there is a much more noticable drive behind the price and thats the beauty of combining these two stochs ...again where the stoch lines separate after leaving the overbought 80 zone, then the move doesn't quite have the power behind it.

this is purely down to having two time frames working for you..even if you dont have them on you charts permanently they are still worth a check..

Howard simple is definately best and thanks for posting the chart

thanks

Rye
Do you look at D1 as well?
Regards
  • #104
  • May 20, 2007 2:25pm May 20, 2007 2:25pm
You may want to check this out for yourself, but i believe that the 14,3,3 IS roughly D1 and therefore gives you day and 4hr together and obviously when they correlate there is some energy behind the move.

whereas if they are of in different directions, then in my mind there is a tug of war in the price and the move , which may still be in the direction of the short term stoch(5,3,3),but is still being held back by the larger tf stoch(14,3,3) and will be somewhat of a lesser move

I hope that makes sense...

So in some respects when they are both together its telling you that the move may be larger than when they are not .

on an emotional level this really helps trading decisions.

What this also does is help you define your exits more clearly...I will sometimes get out just on a cross of the 4hr stoch or d1 stoch depending on which fozzy method i am using

any thougts all welcome

Rye
  • #105
  • May 21, 2007 6:10am May 21, 2007 6:10am
there tanks eurusd for me.. ah, nothing ventured, nothing gained.

Quoting pdhawan
Here are my new trades based on a 4 hr entry. Todays daily on cable will probably close with a small pin bar.
  • #106
  • May 21, 2007 8:12am May 21, 2007 8:12am
cool..............if I understand you correctly, you went long on the EUR/USD using the 4 hour chart. There's just one problem with that trade: you should have been short from last week on the Daily/4 hour trade that was signaled on 16 May; that would have kept you out of this trade.

Observation: when trading ANY given pair, trade it everyday! Don't skip a day here or there for whatever reason. You will invariably miss good trades and get suckered into bad ones. Pick a system and trade it mechanically everyday, regardless! This a classic example of what happens when you don't do that.

(I'm not picking on you, cool; just making a point. I consider you my friend!)


Quoting coolshades
there tanks eurusd for me.. ah, nothing ventured, nothing gained.
  • #107
  • May 21, 2007 8:30am May 21, 2007 8:30am
Coolshades,

If its any consolation i was with you when we gave our cash away on that eur/usd trade today ....

and thanks BB .. you of course are absolutely right. if i had got in when we were supposed to ......we would not have got in when we weren't.

but lesson learnt

hey ho !!!

Rye
  • #108
  • May 21, 2007 8:38am May 21, 2007 8:38am
no worries.. a good spanking is needed once every few weeks..

[quote=BeachBum;1446739]cool..............if I understand you correctly, you went long on the EUR/USD using the 4 hour chart. There's just one problem with that trade: you should have been short from last week on the Daily/4 hour trade that was signaled on 16 May; that would have kept you out of this trade.

from what i have been observing of the 4 hr for the last one month, this is more especially true of the 4 hr isnt it?

Observation: when trading ANY given pair, trade it everyday! from what i have been observing of the 4 hr for the last one month, this is more especially true of the 4 hr isnt it?
  • #109
  • May 21, 2007 9:01am May 21, 2007 9:01am
Correct....................don't pick and choose, let 'your system' work for you!

[quote=coolshades;1446779]no worries.. a good spanking is needed once every few weeks..

Quoting BeachBum
cool..............if I understand you correctly, you went long on the EUR/USD using the 4 hour chart. There's just one problem with that trade: you should have been short from last week on the Daily/4 hour trade that was signaled on 16 May; that would have kept you out of this trade.

from what i have been observing of the 4 hr for the last one month, this is more especially true of the 4 hr isnt it?

Observation: when trading ANY given pair, trade it everyday! from what i have been observing of the 4 hr for the last one month, this is more especially true of the 4 hr isnt it?
  • #110
  • May 21, 2007 9:44am May 21, 2007 9:44am
Quoting pdhawan
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!!!!
PD, how is this method working for you? Entry on 4H then switching to D1 to let profit run and monitor exit.

I am trying this method on 2 of my current live trades but would like to know anybody's experience with this.

short EUR/USD +55 pips
short GBP/USD +32 pips
SL now @BE and switching to D1
  • #111
  • May 21, 2007 10:38am May 21, 2007 10:38am
Quoting BeachBum
cool..............if I understand you correctly, you went long on the EUR/USD using the 4 hour chart. There's just one problem with that trade: you should have been short from last week on the Daily/4 hour trade that was signaled on 16 May; that would have kept you out of this trade.
Hi Beach Bum....would it be possible for you to post the 4 hour and the Daily charts up on the thread. On my charts I see the 4 Hour signal you are talking about but the daily is below the BB bands, which I thought was not a Fozzy signal.

I was looking at this last night as a posible long trade.....but decided the rsi amd ma on the daily chart where flat lining with each other and not really crossing......(you could say I'm up 70 pips by not taking it)

Thanks

Billser
It's All About Attitude ...
  • #112
  • May 21, 2007 10:45am May 21, 2007 10:45am
I do NOT use Bollinger Bands for Fozzy trading and have not used them from almost the very beginning. Hence I look at ALL RSI/MA crosses.

Quoting billser
Hi Beach Bum....would it be possible for you to post the 4 hour and the Daily charts up on the thread. On my charts I see the 4 Hour signal you are talking about but the daily is below the BB bands, which I thought was not a Fozzy signal.

I was looking at this last night as a posible long trade.....but decided the rsi amd ma on the daily chart where flat lining with each other and not really crossing......(you could say I'm up 70 pips by not taking it)

Thanks

Billser
  • #113
  • May 21, 2007 10:54am May 21, 2007 10:54am
Quoting BeachBum
I do NOT use Bollinger Bands for Fozzy trading and have not used them from almost the very beginning. Hence I look at ALL RSI/MA crosses.
Do you think there is any difference in where the cross occurs in relationship to how many pips you get. e.g. near the 20 line, 50 line or 80 line...

Thanks for sharing

Billser
It's All About Attitude ...
  • #114
  • May 21, 2007 10:57am May 21, 2007 10:57am
Because I don't use BB, I don't pay attention to this. Backtesting will provide the information you want..............

Quoting billser
Do you think there is any difference in where the cross occurs. e.g. near the 20 line, 50 line or 80 line...

Thanks for sharing

Billser
  • #115
  • May 21, 2007 1:48pm May 21, 2007 1:48pm
Quoting ramrocket
PD, how is this method working for you? Entry on 4H then switching to D1 to let profit run and monitor exit.
I was stopped out on my Eur/Usd and Gbp/Usd. Last night Eur Daily did begin the fozzy cross but then uncrossed.

This is the risk with getting in on the 4h to jump the Daily.

BB. How are you using the 4h since you would be in the Daily trade WHEN would you use the 4h to reverse the position?
  • #116
  • May 21, 2007 2:19pm May 21, 2007 2:19pm
Quoting pdhawan
I was stopped out on my Eur/Usd and Gbp/Usd. Last night Eur Daily did begin the fozzy cross but then uncrossed.

This is the risk with getting in on the 4h to jump the Daily.

BB. How are you using the 4h since you would be in the Daily trade WHEN would you use the 4h to reverse the position?
I cashed out on my 2 trades above for +40 pips because the pairs are beginning to cross again.

I think I need to setup another computer for daily. I am not confortable making an entry in 4H then switching to daily.
  • #117
  • May 21, 2007 3:38pm May 21, 2007 3:38pm
When I started this thread, I explained in detail how I use the 4 hour charts. Please take the time, go back and read my posts.

Quoting pdhawan
BB. How are you using the 4h since you would be in the Daily trade WHEN would you use the 4h to reverse the position?
  • #118
  • May 22, 2007 8:19am May 22, 2007 8:19am
Quoting ramrocket
I cashed out on my 2 trades above for +40 pips because the pairs are beginning to cross again.

I think I need to setup another computer for daily. I am not confortable making an entry in 4H then switching to daily.
You could always go dual head, and run another instance of metatrader (or whatever, just install it to a different directory.)
So far so good.
  • #119
  • May 23, 2007 2:16pm May 23, 2007 2:16pm
Hi ramrocket!

Quoting ramrocket
long on gbp/usd @1.9794 SL @ 1.9757 up + 37 pips
Please look@my chart. Do you mean this Fozzy cross? But my price of next candle open is +23 then yourth. Is it jus a difference in brokers or I do something wrong?

And please could you tell what was your rule to exit this trade?

Thank you!
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  • #120
  • May 24, 2007 5:01am May 24, 2007 5:01am
Quoting aktaurus
Hi ramrocket!



Please look@my chart. Do you mean this Fozzy cross? But my price of next candle open is +23 then yourth. Is it jus a difference in brokers or I do something wrong?

And please could you tell what was your rule to exit this trade?

Thank you!
Hi aktaurus, yes your chart shows a potential fozzy trade. The candle at the cross is your signal candle. Wait for it to close. When it close and the cross is still valid then enter on the next open candle.
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