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Attachments: FOZZY Method CROSSES
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FOZZY Method CROSSES

Quoting dratef2
where can i find the explanation of fozzy trading system?
thanx
hello dratef2..............as a new member here at FF, I would like to suggest you spend some time learning how to navigate your way around, including using the "Search" feature (it is very similar to Google). Three of your four posts are asking for someone to explain how a method works: the information you seek is right there in front of you! A successful Forex trader spends MOST of his/her time doing research and backtesting. Making and/or losing money usually happens very quickly.......

Quoting dratef2
where can i find the explanation of fozzy trading system?
thanx
Quoting BeachBum
Making and/or losing money usually happens very quickly.......
Ain't that the truth!
Hi, my name is Barry and you can keep your doctor...
Quoting Craig2
I took the EUR/USD cross. It had hit and bounced off its 1 1/2 year old uptrend line nicely, so it seemed a good bet. Didnt take the cable because it is so strongly correlated with EUR/USD.

It doesnt look like there will be much happening tomorrow? Maybe a NZD/USD cross?
I took it yesterday.I closed 2 lots for +25, and 4 lots are still open.
Anyone CAD Sell
Quoting TiKin
Anyone CAD Sell
AS FOR ME!

Yes:
1. "Trailing" SL = 0,7xATR(30) of the previous down movement is broken (Magneta horisontal line)
2. 1,0546 - hystorical low and the nearest resistance line for the potential dow movement (Blue line)
3. Candle pattern "the Bearish engulfing" (Light blue square)

No:
1. Resistance line of the previous down movement is not broken (Green line)
2. Stoch(14,3,3) is not crossed and is near 50-level

All the above - IMHO only. It's important because all of these "Yes"- and "No"-reasons are "addons" and not the parts of the original Fozzy method.
Attached Image
theres an impending cross down on eur/chf and eur/gbp and usd/cad, the euro pairs were also confirmed as breaking the trend up according to 4 hr mouteki...

but i'd be careful and stay out of eur/gbp until the MPC minutes announcement tomorrow...

also be a bit wary on cad untill Wholesale Sales report tommorow...i already took this one though after todays cad cpi, and im holding out at the moment at +40...might get out before whole sale tomorrow though...
Thank you for the insite,

Aktaurus,

Someone mentionned that this strategy does NOT requires to wait for the next daily candle to start, in order for a cross signal to be valid. I am not done reading the Thread but well on my way and so far have seen nothing supporting this, all I have seen is to wait for the next candle to start under MT4 time. Would you mind elaborating on this statement, I am very interested.

Thanks again

Quoting aktaurus
Yes:
1. "Trailing" SL = 0,7xATR(30) of the previous down movement is broken (Magneta horisontal line)
2. 1,0546 - hystorical low and the nearest resistance line for the potential dow movement (Blue line)
3. Candle pattern "the Bearish engulfing" (Light blue square)

No:
1. Resistance line of the previous down movement is not broken (Green line)
2. Stoch(14,3,3) is not crossed and is near 50-level
Quoting TiKin
Thank you for the insite,

Aktaurus,

Someone mentionned that this strategy does NOT requires to wait for the next daily candle to start, in order for a cross signal to be valid. I am not done reading the Thread but well on my way and so far have seen nothing supporting this, all I have seen is to wait for the next candle to start under MT4 time. Would you mind elaborating on this statement, I am very interested.

Thanks again
IMHO it's just a work with the same strategy on the different TFs. We need to analise and backtest on the TF we are going to trade.
Quoting TiKin
Thank you for the insite,

Aktaurus,

Someone mentionned that this strategy does NOT requires to wait for the next daily candle to start, in order for a cross signal to be valid. I am not done reading the Thread but well on my way and so far have seen nothing supporting this, all I have seen is to wait for the next candle to start under MT4 time. Would you mind elaborating on this statement, I am very interested.

Thanks again
The "original" Fozzy says clearly that you have to wait for the cross, and open your position on the next candle... and that's to avoid "bounce offs" off the MA line...

however if you want to get in on a trade early, you can use Fozzy 4hr (theres a seperate thread for that, take a look at it) and use the 4hr cross to get in when an impending daily cross is also giving the same signal...

I gotta say, I'm a newbie to forex, but the fozzy has worked best for me so far...all the other systems i've used (including so called technical analysis by the "experts") made me lose big time....if it wasnt for fozzy I would have wiped out my account a long time ago...

oh well, its all part of the learning curve...if you don't make mistakes then you don't learn...if you don't make losses, then you can't make wins...
Took AUD/USD EUR/GBP and USD/CAD this morning.
this crosses follow the fozzy rules and i see that the usdjpy is cooked very well and needs traders to eat it


good luck craige2
hmm usd/jpy crossed looks like a nice short, any one else taking this? dont see any resistance until 121.85 or so
Quoting sdot
hmm usd/jpy crossed looks like a nice short, any one else taking this? dont see any resistance until 121.85 or so
Yes i tool it and i'm +8 on 2lots
Quoting Brolin69
Yes i tool it and i'm +8 on 2lots
What if the cross does not hold and why not wait for beg of next bar as per original method, interesting what is the logic into this seems to be good decision with a pretty small risk. Looks good.
Quoting TiKin
What if the cross does not hold and why not wait for beg of next bar as per original method, interesting what is the logic into this seems to be good decision with a pretty small risk. Looks good.
I entered at the opeming of the new candel.On my broker the cross took place in 19.06, so i think it was a correct sell signal.
Quoting Brolin69
I entered at the opeming of the new candel.On my broker the cross took place in 19.06, so i think it was a correct sell signal.
What time frame does your broker use GMT +....and is he MT4.

Thanks
Quoting sdot
hmm usd/jpy crossed looks like a nice short, any one else taking this? dont see any resistance until 121.85 or so
Interesting moment. I hope it'll be continued.

What I see right NOW:

1. No Fozzy cross @ D1
2. Stoch haven't crossed down 80-level
3. "Trailing" SL = 0,7xATR(30) of the previous up-movement is not broken by the "Close" price of the current day bar (Magneta)
4. Support trend line of the previous up-movement is broken (Bold Green)
5. Fib's 76,4-level of the previous up-movement is not broken by the "Close" price of the current day bar (DodgerBlue)

Red lines are nearest S/R lines as I see them. Vertical lines are potential borders of the previous up-movement.

Take this cross? Not sure I will. Your thoughts?
Attached Image
Quoting TiKin
What time frame does your broker use GMT +....and is he MT4.

Thanks
I use North Finance for demo and i have i live account at FXSOL.
P.S.:USD/JPY closed(SL) -38 on 2 lots after it was +24.(first TP was 30)
G'day Brolin,

Quoting Brolin69
P.S.:USD/JPY closed(SL) -38 on 2 lots after it was +24.(first TP was 30)
This is not meant to offend, merely a statement. Trades like this are a dime a dozen. I can safely say I've had a couple of dozen of my trades mimic the above scenario. This is all part and parcel of trading. They way I see it, we as traders have 3 choices:

1. Watch the charts and exit the trade when we see it stalling (we may as well be trading hourlies or lower if we're gonna do this...daily TF's are supposed to free us from being glued to the charts)

2. Lower your expected returns from the trades (ie. your TP's -) - but didn't these values work in backtesting???

3. Let the system do it's thing (after extensive backtesting and being happy with what you have) and live with the fact that this will happen.

No. 3 is where one should be if they have confidence in their system that they have extensively backtested, knowing full well that in the long run these types of trades will be more than cancelled out by bigger winning trades.

It's all one big learning curve for us all.

Cheers,
Art...
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