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The Daily Fozzy Method

  • #1,221
  • Dec 5, 2006 4:39am Dec 5, 2006 4:39am
Hi everyone. Finnaly I got through all thread. At times my head was spinning . Anyway I think this thread is worth reading, as I have not read anything with such interest for a while. Will be watching this on my demo and come back with the questions? )


Good trading to all.
  • #1,222
  • Dec 5, 2006 8:50am Dec 5, 2006 8:50am
Hello Fozzy's,


I would like to ask anybody in this thread using platform which is set to GMT time, just to make sure everything in my platform aligned as it should be. There were many crosses on 2006/11/29 (USD/CHF, EUR/USD, USD/JPY maybe some others I did not check all as there is no point in doing that).

Putting November 29th as a day bar on which close cross was in place. My question would be for those who use the same platform with the same time, do they saw the same.

I am GMT+2, using one platform as GMT+2 and have bar close at 5pm EST (New York time) another GMT 7pm EST. Doing this just to better see how each platform acts.

Thank you for your answers in advance.
  • #1,223
  • Dec 5, 2006 8:57am Dec 5, 2006 8:57am
Quoting howard
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. I don't LIKE to trade against the trend. I will, but do so very carefully with a smaller expectation for t/p.

In the case of EURCHF you mentioned that you did not take it as it was against the strong trend. This pair has NOT had a fozzy cross this week, hence no trade.

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. I'm still waiting for the EUR/CAD, but I sold the CHF/JPY last night because it's at a fib level high and reversing. T/P of 96.00 was hit earlier. I didn't take a second lot because this is an against the current trend trade.

Therefore the simple point is how you define the strong trend. Experience in reading a chart.

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

howard
.
  • #1,224
  • Dec 5, 2006 9:07am Dec 5, 2006 9:07am
howard:
Attached Image
  • #1,225
  • Dec 5, 2006 9:32am Dec 5, 2006 9:32am
hi
I just checked the code for AO_fozzy. From the code, the band is calculated based on 8 MA on RSI. From the first post by Fozzy, it seems that we need the band on RSI. Since i don't go thru all of the threads, do I miss something?

BTW, in line 98,
BBMid[i+1]<bbmid[i+1]><bbmid[i+1]><rsima[i+1] &&amp="" rsima[i=""><bbmid[i+1]){><rsima[i+1] &&amp="" rsima[i=""><bbmid[i+1]){>
<rsima[i+1] &&amp="" rsima[i=""><bbmid[i+1]){>Is it a typo? the correct one is BBMid[i] ?

Can someone clarify the latest setting for Fozzy's mehtod?
thanks all to contribute this powerful strategy</bbmid[i+1]){></rsima[i+1]></bbmid[i+1]){></rsima[i+1]></bbmid[i+1]){></rsima[i+1]></bbmid[i+1]></bbmid[i+1]>
  • #1,226
  • Dec 5, 2006 9:39am Dec 5, 2006 9:39am
Well I am not an expert, but as i understood from pirst post that both MA and BB are calculated for first indicator which is RSI. If this helps.

What I also understood that beach does not really take notice on BB and takes crosses no matter if they occur above or below BB midlle line, and uses his discretion deciding on trades. Correct me if I am wrong here.

Regards
  • #1,227
  • Dec 5, 2006 9:57am Dec 5, 2006 9:57am
future strongly recommend reading the thread from beginning. all your answers are in the thread. 1200 odd posts might seem huge.. but as they say in the gym, no pain no gain
  • #1,228
  • Dec 5, 2006 10:03am Dec 5, 2006 10:03am
Hi cool
Not to offend you. Just need clarification for that. Actually, there would be only a little difference between them. Thank you for suggestion.
  • #1,229
  • Dec 5, 2006 10:54am Dec 5, 2006 10:54am
no offence taken. i read this thread a few weeks back and it has added to my knowledge and confidence immeasurably..

it also makes you feel good in life that there are people like fozzy and beach who post for the greater good.



Quoting futurefuture
Hi cool
Not to offend you. Just need clarification for that. Actually, there would be only a little difference between them. Thank you for suggestion.
  • #1,230
  • Dec 5, 2006 12:15pm Dec 5, 2006 12:15pm
Quoting nerka75
Hello Fozzy's,


I would like to ask anybody in this thread using platform which is set to GMT time, just to make sure everything in my platform aligned as it should be. There were many crosses on 2006/11/29 (USD/CHF, EUR/USD, USD/JPY maybe some others I did not check all as there is no point in doing that).

Putting November 29th as a day bar on which close cross was in place. My question would be for those who use the same platform with the same time, do they saw the same.

I am GMT+2, using one platform as GMT+2 and have bar close at 5pm EST (New York time) another GMT 7pm EST. Doing this just to better see how each platform acts.

Thank you for your answers in advance.
There has been some debate about the various time frames and brokers used for this system. I've come to the conclusion that any broker which has a temporary daily bar (as in a couple of hours) should probably be avoided as it does skewer your entry signals. Otherwise, I think the effect is negligible.

Jason
  • #1,231
  • Dec 5, 2006 12:18pm Dec 5, 2006 12:18pm
Quoting futurefuture
hi
I just checked the code for AO_fozzy. From the code, the band is calculated based on 8 MA on RSI. From the first post by Fozzy, it seems that we need the band on RSI. Since i don't go thru all of the threads, do I miss something?

BTW, in line 98,
BBMid[i+1]<bbmid[i+1]><bbmid[i+1]><rsima[i+1] &&amp="" rsima[i=""><bbmid[i+1]){><rsima[i+1] &&amp="" rsima[i=""><bbmid[i+1]){>
<rsima[i+1] &&amp="" rsima[i=""><bbmid[i+1]){>Is it a typo? the correct one is BBMid[i] ?

Can someone clarify the latest setting for Fozzy's mehtod?
thanks all to contribute this powerful strategy</bbmid[i+1]){></rsima[i+1]></bbmid[i+1]){></rsima[i+1]></bbmid[i+1]){></rsima[i+1]></bbmid[i+1]></bbmid[i+1]>
I went into my fozzy indicator and commented out the code that displays the BB's. Purists of the system use them, but someone pointed out (way back in the begining) that looking at all crosses provided better profit opportunities. I agree with that.

Jason
  • #1,232
  • Dec 5, 2006 12:35pm Dec 5, 2006 12:35pm
could you lead me to where beach fozzy is explained
  • #1,233
  • Dec 5, 2006 12:38pm Dec 5, 2006 12:38pm
read the pages/posts noted there. This will be most of it, but it really takes work on your part to find the posts, then apply them to the charts, and review the trades listed all thru the forum....
  • #1,234
  • Dec 5, 2006 1:43pm Dec 5, 2006 1:43pm
Thanks Mrkam
  • #1,235
  • Dec 5, 2006 2:36pm Dec 5, 2006 2:36pm
Quoting jlowder
There has been some debate about the various time frames and brokers used for this system. I've come to the conclusion that any broker which has a temporary daily bar (as in a couple of hours) should probably be avoided as it does skewer your entry signals. Otherwise, I think the effect is negligible.

Jason
Yes Jason, I have read through all the discussion, looked over my platform bars last for the week starts friday 20.00 that means end at 00.00, and starts on mondasy starting 00.00, as far as I understand i have no temporary bars. Time is takem from my platform which is GMT+2.

Thanks for you opinion. Jason
  • #1,236
  • Dec 5, 2006 2:37pm Dec 5, 2006 2:37pm
Forgot to mention , to be clear, looking at 4 hour chart
  • #1,237
  • Dec 5, 2006 4:13pm Dec 5, 2006 4:13pm
Looking at my FXDD charts, it looks like very clear signals for the GBPUSD and EURUSD. I think I will take them. Anyone else?
Don Life is expensive, but includes a free trip around the sun.
  • #1,238
  • Dec 5, 2006 4:23pm Dec 5, 2006 4:23pm
This is NOT a four hour system........

Quoting nerka75
Forgot to mention , to be clear, looking at 4 hour chart
  • #1,239
  • Dec 5, 2006 4:35pm Dec 5, 2006 4:35pm
My cable and eurusd signals were definitely on the daily charts.
Don Life is expensive, but includes a free trip around the sun.
  • #1,240
  • Dec 5, 2006 4:35pm Dec 5, 2006 4:35pm
Careful, both of these are AGAINST a very strong trend.

Quoting traderone
Looking at my FXDD charts, it looks like very clear signals for the GBPUSD and EURUSD. I think I will take them. Anyone else?
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