Quoting poekmeisterDislikedPipsteve,
The RSX is a Jurik RSI (Mark Jurik has invented some smoothers and applied them to standard indicators like RSI). I found the version I use on other forums in the past.Ignored
Steve
The 4 Hour Fozzy Method 233 replies
FOZZY Method CROSSES 808 replies
Fozzy Alt... one more approach to the Daily Fozzy Method 40 replies
My Daily Fozzy Trades 337 replies
Monthly Fozzy Method 9 replies
Quoting poekmeisterDislikedPipsteve,
The RSX is a Jurik RSI (Mark Jurik has invented some smoothers and applied them to standard indicators like RSI). I found the version I use on other forums in the past.Ignored
Quoting coolshadesDislikedpaul,
may i recommend london. its warm, sunny the year round, the people are friendly, never talk about the weather...
Ignored
Quoting poekmeisterDislikedHi all, I have been lurking around for last 2 weeks reading and rereading all posts. My compliments to Fozzy and Beachbum for making this system so effective and simple to use.
I too had to have to make some tweaks to ease the creative part of the mind...
To summarise my method/tweaks:
- I use the RSI(8)-blue / EMA(8)-yellow crossover. I have included an RSX(8)-purple. I have observed that when both RSI and RSX cross at the same bar, the potential move is larger and more likely to happen. I will still take a trade if only RSI crosses, though will have a smaller TP. The bollinger-bands are in there however, I don't use them (thinking to get rid of them)
- I have the Vegas tunnel up with price and an additional EMA100-grey and EMA200-white as the EMAs act as R/S levels, especially at the D1 timeframe. To finish it off, I added weekly-pivots as R/S level.
- ATR(10) as per Beach Fozzy as initial S/L.
- Finally, I have FX Sniper CCI to measure strenght of trend, normal settings in a fourth window
- I paper trade the following pairs (CISCO post): 4 majors, CADJPY,EURAUD,EURCAD,EURJPY,GBPCHF (maybe I add more if I am more experienced)
- I am in The Netherlands, so I am at CET. Demo account North Finance. I will evaluate the charts at 20:00 CET and consider that as if the day was closed. I will take the position at time.
My entry is not 100% mechanical but I will look at following factors to decide to enter:
- position of RSI cross in zones >80, 80-60, 60-40, 40-20, <20
If >60 only small counter trends are allowed (1/3 ATR TP)
If 60-40 normal FOZZY rules, 1 ATR S/L and TS
If<40 only small counter trends are allowed, (1/3 ATR TP)- the presence/absence of RSX cross the EMA8
- the strength of the trend: EMA100/EMA200/Tunnel and the FX Sniper CCI).
if we trade countertrend, I want to see the FX sniper CCI declining (in case of buy) and increasing (sell) for a while.I have attached a screen shot of my setup, including the GBPJPY trade of 7 DEC which I did not take. At 6 dec:
- RSI cross only (no RSX, cautious) <40 level so only countertrend
- FX Sniper CCI changed to decline again at 6 dec and price was around fib-level with strong trend still in place.Ignored
Quoting forexdanofsaDislikedwHAT IS AN RSX?Ignored
Quoting forexdanofsaDislikedwHAT IS AN RSX?Ignored
Quoting ciscoDislikedBB,
I know you use Vegas fibs on your charts. When I read through the Vegas folder I noticed Vegas only gave fibs on 8 pairs. How do you set up your charts with all the other pairs? I'm guessing you're using ATR's from the original 8 charts and matching them as closely as possible to the other pairs you trade. Is that right, or have you devised another method? Thanks!Ignored
Quoting willfDislikedNot sure what what fib levels BB uses but I found the levels given in the Vegas files are not quite suitable for what we were doing.
You really need to go through each pair and find what matches. If the daily bars are crossing more than one level daily then try a different setting.
Likewise some may need adjusting the other way if the daily bars aren't reaching the fibs.
Also bear in mind we are using the fib levels as a take profit point. The Vegas method is looking for a move to an extreme level and then a reversal back to the tunnel.
I have found that using the risk models of 1 & 3 work for the majority of pairs. These give fibs at 89, 144, 233 & 377.
I also modified the Vegas daily indicator to give me a risk model 0. This makes a lower set of fibs at 34, 55 & 89. I found EURGBP & EURCHF pairs never fitted the vegas model because of the smaller movements.Ignored
Quoting willfDislikedNot sure what what fib levels BB uses but I found the levels given in the Vegas files are not quite suitable for what we were doing.
You really need to go through each pair and find what matches. If the daily bars are crossing more than one level daily then try a different setting.
Likewise some may need adjusting the other way if the daily bars aren't reaching the fibs.
Also bear in mind we are using the fib levels as a take profit point. The Vegas method is looking for a move to an extreme level and then a reversal back to the tunnel.
I have found that using the risk models of 1 & 3 work for the majority of pairs. These give fibs at 89, 144, 233 & 377.
I also modified the Vegas daily indicator to give me a risk model 0. This makes a lower set of fibs at 34, 55 & 89. I found EURGBP & EURCHF pairs never fitted the vegas model because of the smaller movements.Ignored
Quoting willfDislikedNot sure what what fib levels BB uses but I found the levels given in the Vegas files are not quite suitable for what we were doing.
You really need to go through each pair and find what matches. If the daily bars are crossing more than one level daily then try a different setting.
Likewise some may need adjusting the other way if the daily bars aren't reaching the fibs.
Also bear in mind we are using the fib levels as a take profit point. The Vegas method is looking for a move to an extreme level and then a reversal back to the tunnel.
I have found that using the risk models of 1 & 3 work for the majority of pairs. These give fibs at 89, 144, 233 & 377.
I also modified the Vegas daily indicator to give me a risk model 0. This makes a lower set of fibs at 34, 55 & 89. I found EURGBP & EURCHF pairs never fitted the vegas model because of the smaller movements.Ignored
Quoting coolshadesDislikedwilf could you post the modified vegas daily which has level 0?
thanks.Ignored
Quoting BeachBumDislikedDave.......I have a friendly piece of advice for you: READ and DIGEST everything in this thread before you ask. Just about every imagineable question that needs to be asked has already been asked......and answered. This comes from a guy who trades for a living, reads and studies constantly. JMO!Ignored