FOZZY Method CROSSES | Page 19 | Forex Factory

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FOZZY Method CROSSES

  • #361
  • Jun 7, 2007 5:18am Jun 7, 2007 5:18am
Quoting BeachBum
Here is the only NZD chart that interests me:
Hi BB

Have you removed vegas levels from your charts for good or is it on this occasion only?
Regards
  • #362
  • Edited 7:42am Jun 7, 2007 7:27am | Edited 7:42am
Last night I traded the g/j. The crossed looked good but I didn't like the 138 pip SL which would have been the high of the last candle...oouch....so I went to the 4H chart to see where I might place the SL. I settled for around 80+ pips.....

I wake up this morning to find my SL taken out and then retraced back to the positive.....Man was I mad....

Any thoughts on what you would have done for a stop loss...? Or is this one of those trader that you put down to experience!!

Thanks

Billser
It's All About Attitude ...
  • #363
  • Jun 7, 2007 7:42am Jun 7, 2007 7:42am
Quoting billser

Last night I traded the g/j.

I went to the 4H chart to see where I might place the SL
What was your target and how did you calculate it? Vegas?

Thanks!
  • #364
  • Jun 7, 2007 7:52am Jun 7, 2007 7:52am
I didn't have a target if you mean TP....

I was going against the trend but that is not unusual with the Fozzy trade system

Quoting aktaurus
What was your target and how did you calculate it? Vegas?

Thanks!
It's All About Attitude ...
  • #365
  • Jun 7, 2007 7:56am Jun 7, 2007 7:56am
Hello Howard............

I see you are carefully watching my charts.................

Vegas was off in the last screen shot for display purposes only. When I am testing, I often add and remove indicators for convenience and clarity sake. But I still like using the fib levels on the Vegas Daily display. As stated before, I'm always tweeking. HTH!

Quoting howard
Hi BB

Have you removed vegas levels from your charts for good or is it on this occasion only?
  • #366
  • Jun 7, 2007 8:06am Jun 7, 2007 8:06am
billser................how did this happen? The cross was two days ago, not yesterday, and the trade has been a good one!

Quoting billser
Last night I traded the g/j. The crossed looked good but I didn't like the 138 pip SL which would have been the high of the last candle...oouch....so I went to the 4H chart to see where I might place the SL. I settled for around 80+ pips.....

I wake up this morning to find my SL taken out and then retraced back to the positive.....Man was I mad....

Any thoughts on what you would have done for a stop loss...? Or is this one of those trader that you put down to experience!!

Thanks

Billser
Attached Image (click to enlarge)
Click to Enlarge Name: gbp_jpy.jpg Size: 46 KB
  • #367
  • Jun 7, 2007 8:14am Jun 7, 2007 8:14am
Here's an interesting little screenshot:
Attached Image
  • #368
  • Jun 7, 2007 8:25am Jun 7, 2007 8:25am
Two days ago.... ....on my charts below it crossed yesterday unless I'm doing something wrong

Blue line is the cross and trade was the next candle...

Quoting BeachBum
billser................how did this happen? The cross was two days ago, not yesterday, and the trade has been a good one!
Attached Image
It's All About Attitude ...
  • #369
  • Jun 7, 2007 8:35am Jun 7, 2007 8:35am
bill,

i dont know how drsi works but if it means a short when there is a cross at the lower end of the envelope then you are right., a normal fozzy cross occured a couple of days back as beach mentions...

and if i remember right, you DID take the gbpyen a couple of days back too!!!!


Quoting billser
Two days ago.... ....on my charts below it crossed yesterday unless I'm doing something wrong

Blue line is the cross and trade was the next candle...
  • #370
  • Jun 7, 2007 8:38am Jun 7, 2007 8:38am
Quoting BeachBum
Hello Howard............

I see you are carefully watching my charts.................

Vegas was off in the last screen shot for display purposes only. When I am testing, I often add and remove indicators for convenience and clarity sake. But I still like using the fib levels on the Vegas Daily display. As stated before, I'm always tweeking. HTH!
Thanks and happy trading.
Yes I do watch your charts.
Regards
  • #371
  • Jun 7, 2007 8:40am Jun 7, 2007 8:40am
thanks for the input Coolshade...below are my trades for June....

beach which version of the AO indicator are you using.......and yes I do realise that it is probably my Sunday candle messing with my head and broker input......

Quoting coolshades
bill,

i dont know how drsi works but if it means a short when there is a cross at the lower end of the envelope then you are right., a normal fozzy cross occured a couple of days back as beach mentions...

and if i remember right, you DID take the gbpyen a couple of days back too!!!!
Attached File(s)
File Type: pdf FozzyJune.pdf   5 KB | 571 downloads
It's All About Attitude ...
  • #372
  • Jun 7, 2007 8:49am Jun 7, 2007 8:49am
Quoting BeachBum
billser................how did this happen? The cross was two days ago, not yesterday, and the trade has been a good one!
You guys are referring to 2 different crosses. You are referring to the upward (long) cross. Billser is talking about the downward (short) cross, which is shown on your chart as well.
  • #373
  • Jun 7, 2007 8:52am Jun 7, 2007 8:52am
Which leads to the question offffffffffff.....do you only take Fozzy trades in the direction of the trend.....??


Quoting Bytebodger
You guys are referring to 2 different crosses. You are referring to the upward (long) cross. Billser is talking about the downward (short) cross, which is shown on your chart as well.
It's All About Attitude ...
  • #374
  • Jun 7, 2007 9:12am Jun 7, 2007 9:12am
Excuse me: I am referring to the "down" cross on my chart which occurred two days ago. The dotted verticle line is a "period seperator", not the cross I am discussing.

Quoting Bytebodger
You guys are referring to 2 different crosses. You are referring to the upward (long) cross. Billser is talking about the downward (short) cross, which is shown on your chart as well.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp_jpy.jpg Size: 49 KB
  • #375
  • Jun 7, 2007 9:19am Jun 7, 2007 9:19am
I see you are using the Dynamic Zone RSI indicator, which I don't particularly like. I use the AO_FozzySignalALL (I posted it recently). BUT...I always visibly verify the cross and look at the "values" to be sure I have a clean cross and not a "bounce". This indicator has served me very well since originally posted by 'miscon777'.

Quoting billser
beach which version of the AO indicator are you using.......and yes I do realise that it is probably my Sunday candle messing with my head and broker input......
  • #376
  • Jun 7, 2007 9:24am Jun 7, 2007 9:24am
Recently, willf posted a very important observation about The Fozzy Method. He stated that this method is very good at identifying "trend changes", either long or short term. That said; I will trade with or against the larger general trend. More conservatively against (2 lots), more agressively with (3 lots). Backtest and see for yourself how this plays out.

Quoting billser
Which leads to the question offffffffffff.....do you only take Fozzy trades in the direction of the trend.....??
  • #377
  • Jun 7, 2007 9:36am Jun 7, 2007 9:36am
This is the chart with the AO all on it


Quoting BeachBum
I see you are using the Dynamic Zone RSI indicator, which I don't particularly like. I use the AO_FozzySignalALL (I posted it recently). BUT...I always visibly verify the cross and look at the "values" to be sure I have a clean cross and not a "bounce". This indicator has served me very well since originally posted by 'miscon777'.
Attached Image
It's All About Attitude ...
  • #378
  • Jun 7, 2007 9:38am Jun 7, 2007 9:38am
  •  TPO
  • | Joined Sep 2006 | Status: One Life, One Chance | 68 Posts
Quoting billser
Which leads to the question offffffffffff.....do you only take Fozzy trades in the direction of the trend.....??
And that leads to the next question of......how to determine what the current trend is?
  • #379
  • Jun 7, 2007 9:46am Jun 7, 2007 9:46am
I believe the difference can be attributed to broker time difference. I use FXDD because the new Daily candle is generated at 5 PM ET, at the close of the NY markets. I've seen this before and it is one of the main reasons I use the FXDD feed.............plus NO SUNDAY CANDLE!

Quoting billser
This is the chart with the AO all on it
  • #380
  • Jun 7, 2007 9:51am Jun 7, 2007 9:51am
Quoting TPO
And that leads to the next question of......how to determine what the current trend is?
Quoting jacko
I am a Trend Trader

EVERYONE SHOULD TEST OUT THIS VERY UNUSUAL AND RARELY USED STRATEGY;

1. buy/ sell ONLY in the direction of the major trend and
2. buy/sell on dips.(Use support lines to guide you as to price...also "round" numbers ... I also use the 50% Fib ratio..)
3. bank your profits

Firstly, how do you know what the trend is?

DETERMINE THE TIME FRAME THAT YOU WANT TO TRADE.

1. If the graph on the chart starts in the bottom left hand corner and ends in the top right hand corner, the market is going UP.

2. If the graph on the chart starts in the top left hand corner and ends in the bottom right hand corner, the market is going DOWN.

3. If you are still confused, print it off and show it to a 5 year old...they will get it right EVERY time...LOL

The trend is the BEST friend you will ever have in the Forex market.

When you trade with the trend, even if you make a mistake, the market will get you out of your problem....If you make a mistake and you are fighting the trend ...YOU ARE STUFFED, BIG TIME !!!
Got TREND ???
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