FOZZY Method CROSSES | Page 21 | Forex Factory

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FOZZY Method CROSSES

  • #401
  • Edited 7:48am Jun 8, 2007 7:35am | Edited 7:48am
I got G/U E/U U/C and C/Y. But I closed them out around 30 pips each. I had to get to work and the weekend is calling.



Edit: I wanted to metion that I am not taking the trade at the open of the next bar. I am playing the break of the hi/lo signal. I think Miscon was doing this in his/her journal. I will test and see how it goes. That is how I normally play pin bars, bullish/bearish bars, inside bars....etc.
  • #402
  • Jun 8, 2007 8:39am Jun 8, 2007 8:39am
is anyone gonna be getting in early on this potential usdjpy cross? looks very promising.... I'm long at 121.61...
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.jpg Size: 85 KB
  • #403
  • Jun 8, 2007 8:59am Jun 8, 2007 8:59am
Most Fozzy traders have a good sense of humor..................

Quoting aktaurus
Oops
  • #404
  • Jun 8, 2007 9:00am Jun 8, 2007 9:00am
Repeat: day-in and day-out Fozzy is profitable, but committment is required!

Quoting Bytebodger
Were you guys on last night's crosses? I've been trading poorly lately, but last night has recharged my batteries.

Buy AUDNZD
Sell CHFJPY (closed out 1/2 position for +51 - the rest is still riding)
Buy EURGBP (closed out whole position for +11)
Sell EURUSD (closed out 1/2 position for +66 - the rest is still riding)
Sell GBPUSD (closed out 1/2 position for +92, closed out other half for +157)
Buy USDCHF (closed out 1/2 position for +65 - the rest is still riding)
  • #405
  • Jun 8, 2007 9:04am Jun 8, 2007 9:04am
I used the 4 hour chart to get in early yesterday at 121.10.

Quoting theDark1
is anyone gonna be getting in early on this potential usdjpy cross? looks very promising.... I'm long at 121.61...
  • #406
  • Jun 8, 2007 9:10am Jun 8, 2007 9:10am
Quoting BeachBum
I used the 4 hour chart to get in early yesterday at 121.10.

BB,

Nice trade! Sounds like you got that 4hr deal down pat. Wish I could get Meta at work. Dailys will have to do for me at this point in time.

Chris
  • #407
  • Jun 8, 2007 9:12am Jun 8, 2007 9:12am
This might help: http://www.forexfactory.com/showpost...postcount=2245


Quoting aktaurus
Hi all!

Here we have conter-trend signal taken a little bit later in according to candle formation and Stoch.

http://img249.imageshack.us/img249/9514/votwk5.gif

There were pips... But then - trend bearished it. Even entering with H4 I have to look at D1 for exit, isn't it so? Then nearest Vegas Line wasn't reached.

Question: how did we have to fix profit (or when to move SL) in this trade?

Thank you!
  • #408
  • Jun 8, 2007 9:13am Jun 8, 2007 9:13am
4 hour rocks!

Quoting Cmartin371
BB,

Nice trade! Sounds like you got that 4hr deal down pat. Wish I could get Meta at work. Dailys will have to do for me at this point in time.

Chris
  • #409
  • Jun 8, 2007 9:23am Jun 8, 2007 9:23am
Quoting BeachBum
Repeat: day-in and day-out Fozzy is profitable, but committment is required!
Amen
  • #410
  • Jun 8, 2007 9:27am Jun 8, 2007 9:27am
Quoting BeachBum
I used the 4 hour chart to get in early yesterday at 121.10.
I tried to use the 4-hour chart earlier this week to jump some signals and it totally backfired on me. So the problem now is that I'm gunshy. I know that in the long run you can do much better for yourself by grabbing trends early on the 4-hour chart. But sometimes it can be difficult when you try something for the first time and then get bombed.

I will return to the 4-hour chart. It's just going to take me a little time before I'm comfortable enough to go back to it...
  • #411
  • Jun 8, 2007 9:28am Jun 8, 2007 9:28am
Backtest...backtest...backtest

Quoting Bytebodger
I tried to use the 4-hour chart earlier this week to jump some signals and it totally backfired on me. So the problem now is that I'm gunshy. I know that in the long run you can do much better for yourself by grabbing trends early on the 4-hour chart. But sometimes it can be difficult when you try something for the first time and then get bombed.

I will return to the 4-hour chart. It's just going to take me a little time before I'm comfortable enough to go back to it...
  • #412
  • Jun 8, 2007 9:29am Jun 8, 2007 9:29am
Quoting BeachBum
4 hour rocks!
just curious, what do u do if the 4h fozzy crosses, but the daily fozzy is unclear....ie either mid way between crosses, or trending in the opposite direction? for example what the eur/us or eur/jpy and even aud/us is doing now?

do you take the trades and verify with another indicator? or do u stay out?

thanks
  • #413
  • Jun 8, 2007 9:30am Jun 8, 2007 9:30am
http://www.forexfactory.com/showthread.php?t=21404

Quoting theDark1
just curious, what do u do if the 4h fozzy crosses, but the daily fozzy is unclear....ie either mid way between crosses, or trending in the opposite direction? for example what the eur/us or eur/jpy and even aud/us is doing now?

do you take the trades and verify with another indicator? or do u stay out?

thanks
  • #414
  • Jun 8, 2007 9:39am Jun 8, 2007 9:39am
Quoting Billser
Now this is interesting......See Chart below....Had I stuck to my Fozzy rules and used the high of the previous candle as my stop loss I would now be UP 145 pips instead of down 80+ pips.....

It's hard to do a 138 pip SL but maybe what I should do is lower my lot amount from 30 cents to say 10 cents per lot to compensate for the large SL....
I am attaching a very simple spreadsheet that I use to determine position sizing. This allows me to set any SL that I deem to be appropriate without worrying about overextending myself with a major loss. To use it, you just enter the following 4 values (with hypothetical values shown for illustration):

Equity: 10000
Risk %: 1.0
Pip Value: 0.82
Stop Loss: 128

Once you've entered these values, it will calculate:

Max Loss: 100
Lots: 1.0

So if you were trading with a $10k account and you wanted to risk no more than 1% of that account on the USDJPY (which has a pip-value of $0.82) with a SL of 128 pips, you would trade 1.0 mini-lots and your maximum loss on the trade would be $100.

I hope this can be a useful tool for someone.
Attached File(s)
File Type: zip Position Sizing.zip   2 KB | 397 downloads
  • #415
  • Jun 8, 2007 9:44am Jun 8, 2007 9:44am
Thank you Bb!

Quoting Bytebodger
I am attaching a very simple spreadsheet that I use to determine position sizing. This allows me to set any SL that I deem to be appropriate without worrying about overextending myself with a major loss. To use it, you just enter the following 4 values (with hypothetical values shown for illustration):

Equity: 10000
Risk %: 1.0
Pip Value: 0.82
Stop Loss: 128

Once you've entered these values, it will calculate:

Max Loss: 100
Lots: 1.0

So if you were trading with a $10k account and you wanted to risk no more than 1% of that account on the USDJPY (which has a pip-value of $0.82) with a SL of 128 pips, you would trade 1.0 mini-lots and your maximum loss on the trade would be $100.

I hope this can be a useful tool for someone.
  • #416
  • Jun 8, 2007 9:49am Jun 8, 2007 9:49am
Quoting BeachBum
http://www.forexfactory.com/showthread.php?t=21404
thanks..

I think you were refering to Hma modified, but i have the same problem as daktari, i can't get it to work...
  • #417
  • Jun 8, 2007 9:55am Jun 8, 2007 9:55am
Sorry...............I'm lost. What are you talking about?

Quoting theDark1
thanks..

I think you were refering to Hma modified, but i have the same problem as daktari, i can't get it to work...
  • #418
  • Jun 10, 2007 5:33pm Jun 10, 2007 5:33pm
Quoting StoragePro
You make the rules you follow. There are multiple ways of taking a cross - all the way from a restrictive BB filter to using the cross all by itself. Read the main thread - lots of goodies there.

Here is the trick - You have to figure out what works for you. You will need to know why you are following some rules. These reasons have to be your reasons, not BeachBum's or Fozzies. You may find mimicking one of the traders here does work for you, but you still make it your own.

It can take months, even years to get your mind wrapped around trading.

Good luck and take heart - it can be done.
thyanks alot dear i will do
  • #419
  • Jun 10, 2007 5:34pm Jun 10, 2007 5:34pm
Quoting Billser
The BBands are up to the individual.....sometimes I take them into consideration and sometimes I don't.

My suggestion is for you to use Fozzy method the way that suites you best. If the original Fozzy is the best for you then do that ....if Fozzy is best with out the BBands then do that....I use a bit of descretion when i trade as do almost everyone one who uses this system or ANY other system.....

Some pips you win....some pips you loss... some trades you miss.... some trades you wish you had never got into......

You have the final say in deciding if you are going to take a trade and what the reasons are for taking that trade....not me or Beach or Coolshades or anyone else.

Regards,

Billser
thanks very very much and sorry for late this thank

i will see more read more

take care
  • #420
  • Jun 10, 2007 6:16pm Jun 10, 2007 6:16pm
hello trader


anyone will take the NSDUSD short today or we shall wait the confirmation??



good luck
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd.jpg Size: 50 KB
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