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how successful has fozzy been to you

  • #21
  • Jun 4, 2007 2:52am Jun 4, 2007 2:52am
Not sure if my results count, as I'm not trading Fozzy manually but instead using the Fozzy EA.

I deposited $800 on 2007-03-20 and my current balance is $914.
I think the results could be better if i could make sense of the Trailing Stop feature in the EA, at the moment i cannot get it to perform as a normal trailing stop without those other features like B/E messing things up...

And this is on a live account.
Liberate me ex inferis
  • #22
  • Jun 4, 2007 3:51am Jun 4, 2007 3:51am
Quoting randomlight
Bytebodger thanks for your kind words and insight.
It does seem that there is a certain type of wannabe who takes offence when asked if they have actually achieved any degree of success .
It would be truly scary to find that these are the same people to jump at the opportunity to advise new people on how to trade.
No nvwine I don`t want people`s statements and am not sure why you thought to ask me that.
For the record I am far from new to forex and this site, (take a look at my join date.)
I am not lazy and have tried to contribute when I can.
I spend at least 2 hours a day studying charts and have for a long time.
I have studied at least 20 different systems and am getting pretty confident with my ability to predict price movements.
Over the years (yes years, nvwine) I have peiced together my own way of identifying and predicting although I don`t like calling it a system because it is mostly instinct and that is the one thing you can not teach anyone. It comes from long hours at the screen. However when I do ask for advice of cource I would rather know I am talking to a journyman and not just a first year apprentice.
Why is that so hard to understand ????
I know there is no holy grail and am not looking for one,I also know that two people using the same system can get different results due to a little thing called discretion.
Now please no more lectures, as Bytebodger kindly pointed out If you aren't inclined to answer the question, that is fine, but don`t try to dismiss the question as invalid.
I am sure there are lots of people who would like some sort of validation that this system is productive after all this time, and not just from some newbee`s demo account.
I don't know if you understood my reply as intended. I never meant to imply you were lazy. You have probably contributed more than I have. I just don't think that you can consider a system has merit just because others say it is profitable in their live account. Since this method as laid out by Fozzy is less than a year old you may have to accept people's advice that have not traded the system for very many months. I have learned things from people that may not have a live account but present a new insight.

After reading the Fozzy threads I'm sure you have noticed that there are a lot of different applications of the basic system in use. As you mentioned the system is discretionary so people can view things differently. Even our days start at different times due to platform server times. My point was that unless you test several variations of the Fozzy method and find one that is profitable for you it makes no difference how much money other people make. This is the type of system that can win or loose depending on how it is traded. I'll repeat there are people that have been profitable with this system. I actually did ask for a couple of people's statements while I was testing one of the Fozzy EAs. I wanted to see if the EA selected the same trades as a manual trader. One of the people has updated me with their progress and he is making money.
  • #23
  • Jun 4, 2007 4:23am Jun 4, 2007 4:23am
Back testing and forward testing have been done in other related threads, no body has asked to publish those here.

The original question by don perry is quite clear and straightforward, he wants to know if any body is making money using this method.

My experience is : yes if use it with discretion, no if use it on its own.
My answer is very close to willf's.
Regards
  • #24
  • Edited Jun 6, 2007 2:13pm Jun 4, 2007 2:40pm | Edited Jun 6, 2007 2:13pm
Recent posts here and in the original Fozzy thread have addressed methods, results and expectations. I feel the need to add my perspective because I agree with some of what has been written, but as expected, not all.

Go back to Fozzy's first few posts. His original, simple system will work as described. Some people have referred to this method as "Dynamic Zone RSI"; and you can find a similar setup on the web going back to at least to 2003. No matter; this method and all the discussion about it here at FF has served as the basis for many people learning to trade successfully with Daily charts only. When I read Fozzy's first posts, my attention was immediately captured because I was already trading Dailies but wanted another perspective, another Daily chart tool in my box, to use the cliche. Subsequent posts show that many of us have played with this method, adapting it to our trading style and schedule and made it a "winner" for us personally. willf just wrote that he has basically moved away from the original Fozzy as a primary trade indicator, now using the signal for a "thumbs-up", confirming trade entries. I've added the 4 hour chart to my Fozzy system (explained in my 4 hour chart thread) and like many, I continue to back and forward test variations for the sole purpose of gaining any trading "edge" I possibly can. But day-in-and-day-out, I trade a basic Fozzy system with real money on a mini account and make a profit.

There is one other way I use the Fozzy. I have used Vantage Point trading software since November 2005. The TraderChat forum explains how many of us use VP to trade with neural indexes on Daily charts. I like a particular system which focuses on next day predictions and when that system generates a trade signal that corresponds with a Fozzy signal, I am all over that trade. If by chance I entered early using the 4 hour chart and then I get a VP signal later that same day, I pile it on that trade. The results are excellent! I can do THAT because I have the VP software.

Anyone interested in Fozzy trading who does not first spend very serious time backtesting for the primary purpose of learning how this method works is asking for...................no wait, they are begging for disaster! I have explained how I like to backtest using numbers and indicators. This is an absolute MUST! And I am convinced that any trader who is willing to put in the time, adapt the method to their style and then FAITHFULLY trade THAT method will be successful.
  • #25
  • Edited 2:47am Jun 5, 2007 1:35am | Edited 2:47am
thus spake

Quoting BeachBum
Recent posts here and in the original Fozzy thread have addressed methods, results and expectations. I feel the need to add my perspective because I agree with some of what has been written, but as expected, not all.

Go back to Fozzy's first few posts. His original, simple system will work as described. Some people have referred to this method as "Dynamic Zone RSI"; and you can find a similar setup on the web going back to at least to 2003. No matter; this method and all the discussion about it here at FF has served as the basis for many people learning to trade successfully with Daily charts only. When I read Fozzy's first posts, my attention was immediately captured because I was already trading Dailies but wanted another perspective, another Daily chart tool in my box, to use the cliche. Subsequent posts show that many of us have played with this method, adapting it to our trading style and schedule and made it a "winner" for us personally. willf just wrote that he has basically moved away from the original Fozzy as a primary trade indicator, now using the signal for a "thumbs-up", confirming trade entries. I've added the 4 hour chart to my Fozzy system (explained in my 4 hour chart thread) and like many, I continue to back and forward test variations for the sole purpose of gaining any trading "edge" I possibly can. But day-in-and-day-out, I trade a basic Fozzy system with real money on a mini account and make a profit.

There is one other way I use the Fozzy. I have used Vantage Point trading software since November 2005. The TraderChat forum explains how many of us use VP to trade with neural indexes on Daily charts. I like a particular system which focuses on next day predictions and when that system generates a trade signal that corresponds with a Fozzy signal, I am all over that trade. If by chance I entered early using the 4 hour chart and then I get a VP signal later that same day, I pile it on that trade. The results are excellent! I can do THAT because I have the VP software.

Anyone interested in Fozzy trading who does not first spend very serious time backtesting for the primary purpose of learning how this method works is asking for...................no wait, they are begging for disaster! I have explained how I like to backtest using numbers and indicators. This is an absolute MUST! And I am convinced that any trader who is willing to put in the time, adapt the method to their style and then FAITHFULLY trade THAT method will be successful.
  • #26
  • Jun 5, 2007 9:23am Jun 5, 2007 9:23am
G'day RandomLight,

Quoting randomlight
As usual, ask a question about how to use a system ,you get lots of proffesional sounding advice,(this is good and 99% well intentioned).
BUT.... ask if anyone is actually trading the system with a full size live account or if anyone is having any consistant positive results using a system with a live account and You may get a reply or 2,(usually something that causes it to drift off from the initial question), and still walk away wondering if after 150 pages of this ,anyone is making any decent profit with it.....
Would it be possible for those using this system (live accounts) to throw us a bone here.
Mate, nobody owes you a bone. Here or anywhere else. Do your research. If you had you'd know there's a couple of journals floating around documenting (to varying degrees) their fozzy trades. Mine is one of those. I trade a live mini account. Well, micro. Has it been profitable? Considering I took a hit trading ridiculous lots when I first started, hit a maxdd of 11ish% and have brought it back to around 6ish% over the last 6 weeks, my answer would be...I'm headed in the right direction.

Quote
One would think that with all the testing and input spent on the fozzy system, someone could tell us if it is worth pursuing further from actual live account experience.
If you expect someone else to tell you if something is worth pursuing for you, well....Just because it works for some does not necessarily mean it won't be a big waste of time for you. You have to try it for yourself.

Quote
Beachbum I am not refering to you.you are always very helpfull and you have already posted that you use a live mini account for this.
But what about the others?
And do you believe what Beachbum writes? Why? He could be spinning the biggest load of crock for all you know. And anyone else for that matter.

You want to be told that Fozzy works, give it a go, you won't regret it...blah blah...Nobody can do that for you. Roll up your sleeves and get your hands dirty. If is works, great. If not, wash your hands and move on.

Cheers,
Art...
  • #27
  • Jun 5, 2007 9:32am Jun 5, 2007 9:32am
G'day Bb,

Quoting Bytebodger
As soon as you ask for any type of results, everyone responds with their generic tidbits of market wisdom, admonishing you to figure it all out for yourself or else you're just being lazy.
But no matter which way you slice it, you do have to figure it out for yourself! Anything else is lunacy.

If I, and 5 others say that we've consistently made 5% per week will you immediately start trading it on a live standard account? I don't think so. You'd fire up a mini/micro or a demo account and try it out for yourself.

QED.

Cheers,
Art...
  • #28
  • Jun 5, 2007 10:42am Jun 5, 2007 10:42am
Quoting Artamon
G'day Bb,


But no matter which way you slice it, you do have to figure it out for yourself! Anything else is lunacy.

If I, and 5 others say that we've consistently made 5% per week will you immediately start trading it on a live standard account? I don't think so. You'd fire up a mini/micro or a demo account and try it out for yourself.

QED.

Cheers,
Art...
And once again another poster just proves my point.

Did I ever say that you don't have to figure it out for yourself??? NO.

Did I ever say that I will start trading it on a live standard account just because 5 others say they are making 5%??? NO.

AGAIN, I will point out the TITLE of this thread - "How successful has fozzy been to you?" If you don't want to answer that question - fine. If you want to answer it by pointing people to your journal - fine. But don't act like someone is being lazy just because they want to see results posted in a thread that specifically asks for that information.

One would also be quite ignorant to assume that someone wants to see results posted merely so they can jump on the method without doing any testing of their own. If you've seen my trade journal, you know that my results have sucked. That's fine. But it is always very helpful to know if others are experiencing the same bad results or if I'm doing something different/wrong. There are plenty of valid, scientific reasons to want to know how others are faring if they are employing an identical or similar method.

I believe that the vast majority of us spend time in this forum because we are ultimately looking to save time. Without input from others, we may spend days/weeks/months/years pursuing paths that others in the forum may be able to identify as flawed from the start. Sharing information is the whole point of a forum, isn't it??? No one is compelled to share information - but no one should be so easily dismissed just because they asked for information.

You seem to assume that just because you should not act solely on the posted results of others, that it is somehow erroneous to look at / ask for / consider those results.

What if there was a method - Method X - that was posted in this forum and 50 people afterward posted a series of horrific results from that method? Would you then waste a day/week/month of your own time testing that method? If you would burn your own time chasing after a strategy that has already been blown up by countless others, then why bother spending your time in the forum in the first place?

Conversely, what if everyone posting results for Method X showed fantastic results? Obviously, it would be stupid to just jump in and start trading Method X on a live standard account. But would you not want to then invest some of your own time to test it for yourself? If you would not spend some of your own time to test a strategy that is regularly claimed to be successful for others, then why bother spending your time in the forum in the first place?

The point here is very simple. There IS value in seeing the posted results of others. Just because I said there is value in that information, that obviously does not mean that anyone should act upon that information without first doing their own testing. But even though you can't/shouldn't act on that information without doing your own confirmation, that doesn't mean that the information itself is worthless.

I would never buy a car sight unseen without test driving it or inspecting it myself. But that does not mean that I wouldn't pick up the latest edition of Consumer Reports just to SEE what others are saying about a vehicle before I consider test driving it.
  • #29
  • Jun 5, 2007 11:22am Jun 5, 2007 11:22am
Quoting Bytebodger
And once again another poster just proves my point.

Did I ever say that you don't have to figure it out for yourself??? NO.

Did I ever say that I will start trading it on a live standard account just because 5 others say they are making 5%??? NO.

AGAIN, I will point out the TITLE of this thread - "How successful has fozzy been to you?" If you don't want to answer that question - fine. If you want to answer it by pointing people to your journal - fine. But don't act like someone is being lazy just because they want to see results posted in a thread that specifically asks for that information.

One would also be quite ignorant to assume that someone wants to see results posted merely so they can jump on the method without doing any testing of their own. If you've seen my trade journal, you know that my results have sucked. That's fine. But it is always very helpful to know if others are experiencing the same bad results or if I'm doing something different/wrong. There are plenty of valid, scientific reasons to want to know how others are faring if they are employing an identical or similar method.

I believe that the vast majority of us spend time in this forum because we are ultimately looking to save time. Without input from others, we may spend days/weeks/months/years pursuing paths that others in the forum may be able to identify as flawed from the start. Sharing information is the whole point of a forum, isn't it??? No one is compelled to share information - but no one should be so easily dismissed just because they asked for information.

You seem to assume that just because you should not act solely on the posted results of others, that it is somehow erroneous to look at / ask for / consider those results.

What if there was a method - Method X - that was posted in this forum and 50 people afterward posted a series of horrific results from that method? Would you then waste a day/week/month of your own time testing that method? If you would burn your own time chasing after a strategy that has already been blown up by countless others, then why bother spending your time in the forum in the first place?

Conversely, what if everyone posting results for Method X showed fantastic results? Obviously, it would be stupid to just jump in and start trading Method X on a live standard account. But would you not want to then invest some of your own time to test it for yourself? If you would not spend some of your own time to test a strategy that is regularly claimed to be successful for others, then why bother spending your time in the forum in the first place?

The point here is very simple. There IS value in seeing the posted results of others. Just because I said there is value in that information, that obviously does not mean that anyone should act upon that information without first doing their own testing. But even though you can't/shouldn't act on that information without doing your own confirmation, that doesn't mean that the information itself is worthless.

I would never buy a car sight unseen without test driving it or inspecting it myself. But that does not mean that I wouldn't pick up the latest edition of Consumer Reports just to SEE what others are saying about a vehicle before I consider test driving it.

Very well put. All I see you looking for is some general info on how people are doing and people are jumping down your throat. I myself haven't placed with Fozzy yet but maybe in the future and if I did I would have no problem sharing some info with you so you could make an informed decision.

later
G
  • #30
  • Jun 5, 2007 11:51am Jun 5, 2007 11:51am
Well thanks for yet another dandy lecture Artamon....

I give up, Bytebodger, thanks for the support.
Also thanks to everyone who understood the question and answered in context.
I am leaving this thread but for what it is worth I did get what I was after.
I hope the posts originator got something also.
You have to do a lot of sifting but in the end here is my understanding.
Fozzy like all systems that rely on lagging indicators, is by itself a trap for begginers looking for a substitute for screen time.
In the end, one needs to use a lot of discretion (I call it instinct) which comes only with months probably years of watching price action.
I now believe that not one person relying soley on Fozzy crosses is successful.
This does not surprise me .
I am generally very carfull when it comes to advising new people but I will say this to any newbees coming accross this thread
Take all your lagging indicators and throw them in the toilet, Possibly with the exception of using one ma for trend spotting and maybe something for spotting divergence.
Get to know price action.(trendlines Resistance/support,candle formations)
Get to know when to stand aside due to fundamentals.
Throw 90% of the advise you see here in the toilet with the indicators because 90% of the people so ready to give advice here have achieved no actual success themselves.
Do not ask people how much actual success they have had, It seems some may see it as placing them in the awkward position of having to put up or shut up.
This could be particularly threatening to some of those who have a ton of posts and throw advice around like aspirin.They will see it however as an opportunity to offer more drible in the form of lectures.
I am sure that unlike when one asks for actual success stories, I will recieve a lot of replies on this. Blast away.
If I ever feel in the need for a lecture I might even return and read some of it.
I am off to browse posts regarding price action again.
  • #31
  • Jun 5, 2007 12:32pm Jun 5, 2007 12:32pm
Gentlemen and Ladies.............

Everyone has offered their opinion and observations. Let's end it here and concentrate on trading and trading results. The creator of this thread (who has since been banned for forum infractions) asked a legitimate question about success. If anyone else has something to add about successes or the lack there of, please add it now. Otherwise, there is no need for ongoing personal criticisms! I believe our time is better spent focused on trading, regardless of the method(s) we prefer.
  • #32
  • Jul 6, 2007 10:43am Jul 6, 2007 10:43am
I am trading Fozzy in a demo account on GBPUSD. In the past 7 weeks it has made 3 trades, all profitable. I'll try it for another 5 weeks, then I'll trade a live mini lot. Once it's done 30 trades or so, I'll trade it on a standard lot.

Too bad about all the "noise" in this specific thread. Instead of everyone saying everything under the sun, why not just post an answer to the original question. Is it so hard? If you don't have any useful, quantifiable information, don't post.
  • #33
  • Aug 19, 2007 11:01pm Aug 19, 2007 11:01pm
Quoting randomlight
Thanks angler, I needed one more person to tell me that fx requires work and that there is no easy solution.
I know you mean well though, and good luck with your demo. I think your post further validates my earlier post .
I think Don Perry wanted to know if people are having success with this system after all the time that has been spent on it .This is after 8 months and over 3000 posts.
Sooo again..., for those who have been working with this a while.
Is anyone but Beachbum trading a live account and making a profit off this?
simple question..... simple answer maybe?
YES, IT's work... (simple answer , rite ?)

But you need time to learn it & make a decision to your pair
I'm use with Gold & Oil too.... ! (of course live trading not a demo)
(PS : Still you have to make your own trade decision)
  • #34
  • Aug 19, 2007 11:43pm Aug 19, 2007 11:43pm
Here as the account history following the result :
Attached Image (click to enlarge)
Click to Enlarge Name: XAU Acount History.jpg Size: 87 KB
  • #35
  • Aug 20, 2007 2:55am Aug 20, 2007 2:55am
Quoting satutrade
Here as the account history following the result :
in which timeframe do u trade ?
  • #36
  • Aug 20, 2007 7:53am Aug 20, 2007 7:53am
Quoting satutrade
But you need time to learn it & make a decision to your pair
I'm use with Gold & Oil too.... ! (of course live trading not a demo)
(PS : Still you have to make your own trade decision)
satutrade......................well done! And you are absolutely right about taking time to learn. All newbies should pay attention to those words! Thanks for the post!
  • #37
  • Aug 20, 2007 10:57pm Aug 20, 2007 10:57pm
Quoting 4newbie
in which timeframe do u trade ?
I'm usually got 15 minutes timeframe & it's works ..
Sometimes combine with 30 minutes & 1 Hour time frame...
As i told first.... "you need time to learn it.. & make it works..."
  • #38
  • Aug 20, 2007 11:07pm Aug 20, 2007 11:07pm
Quoting BeachBum
satutrade......................well done! And you are absolutely right about taking time to learn. All newbies should pay attention to those words! Thanks for the post!
Thanks... you're wellcome...

Good Trade for All... & don't be greedy !
  • #39
  • Aug 21, 2007 1:30am Aug 21, 2007 1:30am
Quoting satutrade
Here as the account history following the result :
very nice result satutrade

i want to try this one (Fozzy)
i try many many method on this forum
but until now i didnt get good result

about 6 month ago i tried test fozzy ea but i didnt get good perfomance ,
but now i see your performance that is realy good
satutrade please help me to learn fozzy method if it is possible for you

please describe method , put indicators and let me how do you use this method (time frame , stop loss & TP)

many thanks
  • #40
  • Aug 21, 2007 2:57am Aug 21, 2007 2:57am
Quoting satutrade
I'm usually got 15 minutes timeframe & it's works ..
Sometimes combine with 30 minutes & 1 Hour time frame...
As i told first.... "you need time to learn it.. & make it works..."
could u tell which settings do u use ?
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