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The Daily Fozzy Method

  • #1,201
  • Dec 4, 2006 4:11pm Dec 4, 2006 4:11pm
chfjpy 4/11 new candle formed at 10 pm gmt (its 10.12 pm gmt as i type),, again i am leaving this short well alone.

actually beach your comments on this would be appreciated.. since i am less certain of this
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  • #1,202
  • Dec 4, 2006 4:13pm Dec 4, 2006 4:13pm
Could somebody point me to where I may find the AO_Fozzyindicator that I see on cool's charts?

Also, are we using now the LWMA on the RSI chart or the SMA as in the original. Thanks for any advice.
Don Life is expensive, but includes a free trip around the sun.
  • #1,203
  • Dec 4, 2006 4:16pm Dec 4, 2006 4:16pm
Quoting BeachBum
fozzy, did you ever envision that the humble little thread you started back in September would reach this milestone? And........we have a simple trading system that works very well when the rules are strictly followed. Join me in raising a glass to fozzy......... (I prefer James Squires Amber Ale.......cheers)
Hi Beach,

Not in a million years did I expect this thread to get to this stage. It is only through posts by traders like yourself that it ever got this far. The standard of the posts to this thread speaks volumes for this forum. I'll gladly join in with a Squires. Cheers!

Fozzy
  • #1,204
  • Dec 4, 2006 4:17pm Dec 4, 2006 4:17pm
Quoting traderone
Could somebody point me to where I may find the AO_Fozzyindicator that I see on cool's charts?

Also, are we using now the LWMA on the RSI chart or the SMA as in the original. Thanks for any advice.
Here we go
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File Type: mq4 AO_FozzySignal.mq4   3 KB | 711 downloads
Steve
  • #1,205
  • Dec 4, 2006 4:20pm Dec 4, 2006 4:20pm
this is an interesting trade since this is one trade beach did not take, but i took.

i think beach did not take this short since it was heading towards the tunnel. i was aware of it but i set a very tight t/p since the tunnel was 100 pips away from opening of candle and exited for about + 25 pips.

now if this was pair was ranging away from the tunnel, i believe beach too would have taken the trade since the price here is 'ranging' near/above the tunnel for the last 2 weeks. what i mean is a long or short signal if it was sufficiently away from the tunnel would have been a valid signal since the price is not really trending any lightly.

disclaimer : i am a newbie so please take my comments on these lightly. beach is sensei (well named), so i will defer to him.

ps: no valid signals for me, so its off to bed now.
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  • #1,206
  • Dec 4, 2006 4:21pm Dec 4, 2006 4:21pm
Almost ready to pull the trigger...........
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  • #1,207
  • Dec 4, 2006 4:25pm Dec 4, 2006 4:25pm
beach, my post 1204 refers to same pair and candle start of 5-12 at 00.00. you are referring to triggering at this candle, or the candle of 6-12?

i am confused now


Quoting BeachBum
Almost ready to pull the trigger...........
  • #1,208
  • Dec 4, 2006 4:26pm Dec 4, 2006 4:26pm
Still waiting:
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  • #1,209
  • Dec 4, 2006 4:30pm Dec 4, 2006 4:30pm
being a teetotaller, let me raise my juice..

all credit to fozzy and sensei

fozzy - are you following the cricket?

Quoting fozzy
Hi Beach,

Not in a million years did I expect this thread to get to this stage. It is only through posts by traders like yourself that it ever got this far. The standard of the posts to this thread speaks volumes for this forum. I'll gladly join in with a Squires. Cheers!

Fozzy
  • #1,210
  • Dec 4, 2006 4:43pm Dec 4, 2006 4:43pm
if beach takes those trades i will have some egg on my face, but then you know why he's called sensei..

ok.. too many posts from me and its off to bed. see you folks tomorrow

  • #1,211
  • Edited 5:10pm Dec 4, 2006 5:09pm | Edited 5:10pm
Actually, you said today, you would not take these trades, today!! Same for beach, as he is not taking them, today!

Tomorrow is a new day, with new charts, and new looks. In essence, I think on both of these charts we are waiting for a trend (albeit the beginning of one, but a trend nonetheless) to develop. Then, our trades will be "with the trend".

I think that it is important to note that we don't HAVE to take a Fozzy trade at the opening of the next candle after the close of the one that confirms a cross. We just need to wait AT LEAST until then. However, if other things don't line up for us, it is fine to wait until they do!! Maybe a day or two later even.. But, the cross should still be in place, a trend our way, not too close to the tunnel.... and so on!!!
  • #1,212
  • Dec 4, 2006 6:19pm Dec 4, 2006 6:19pm
Quoting mrkam
I think that it is important to note that we don't HAVE to take a Fozzy trade at the opening of the next candle after the close of the one that confirms a cross. We just need to wait AT LEAST until then. However, if other things don't line up for us, it is fine to wait until they do!! Maybe a day or two later even.. But, the cross should still be in place, a trend our way, not too close to the tunnel.... and so on!!!
Hi mrkam,

This is a very valuable point. The number one thing that will help your trading with this method is PATIENCE. As I've said from the beginning - only YOU can decide how YOU want to trade. If you want to wait until all factors line up in your favour then do it. You need to be comfortable with the trades that you make. Trading doesn't have to be stressful to be succesful.

Cheers

Fozzy
  • #1,213
  • Dec 4, 2006 11:12pm Dec 4, 2006 11:12pm
I see the GBP/USD has crossed last night so the next candle is today and London is a few hours away...

But I cant help feeling its a retraction, there appears to be strength still in the uptrend..

Any thoughts...
  • #1,214
  • Dec 4, 2006 11:18pm Dec 4, 2006 11:18pm
Quoting glenn5t
I see the GBP/USD has crossed last night so the next candle is today and London is a few hours away...

But I cant help feeling its a retraction, there appears to be strength still in the uptrend..

Any thoughts...
Hi Glenn,

No cross on my system yet. Make sure the crossing candle is complete before considering entering the trade. The uptrend is very strong.

Cheers

Fozzy
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  • #1,215
  • Dec 4, 2006 11:50pm Dec 4, 2006 11:50pm
thats intresting...heres mine..
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  • #1,216
  • Dec 5, 2006 12:01am Dec 5, 2006 12:01am
Quoting fozzy
Hi Glenn,

No cross on my system yet. Make sure the crossing candle is complete before considering entering the trade. The uptrend is very strong.

Cheers

Fozzy
Fozzy, may I ask what version of the Vegas fibs you are using? Could it be the daily version? I know some are using the 1 hour apparently. Thanks for any advice. Also, are u using the SMA or EMA on the RSI chart? thanks.
Don Life is expensive, but includes a free trip around the sun.
  • #1,217
  • Dec 5, 2006 12:04am Dec 5, 2006 12:04am
can i set this up using the vtrader platform?
  • #1,218
  • Dec 5, 2006 12:10am Dec 5, 2006 12:10am
Glenn,

IBFX have a 'Sunday' candle which is only 2 hours data, but will be included in your indicator calcs, and doubtless, is distorting them. Better to use either SBFX (or FXDD if you wish to have candles that coincide with New York close)

Traderone,

you should definitely use the daily Vegas....

Fozzy,

may I humbly suggest you change your vegas model number to 3 from 1 (at least for cable....)

cheers

Xerof
  • #1,219
  • Dec 5, 2006 1:07am Dec 5, 2006 1:07am
thanks for that guys changed my charts to Stragetybuilder...now I have the same...no cross yet...

  • #1,220
  • Dec 5, 2006 4:16am Dec 5, 2006 4:16am
Quoting BeachBum
not always...........
Could you elaborate please.

Apart from the basic rules of this system such as ATR or H/L for stops v-levels for targets and cross for trigger, Trend is now a decisive factor as to whether or not to take a trade even if other criteria are met.

In the case of EURCHF you mentioned that you did not take it as it was against the strong trend.

For EURCAD you are now ready to pull the trigger in spite of the fact that it is against the trend but for CHFJPY you are still waiting.

Therefore the simple point is how you define the strong trend.

If you do not mind and are happy to clarify I would be much obliged.

howard
Regards
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