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The Daily Fozzy Method

  • #1,441
  • Dec 30, 2006 8:05pm Dec 30, 2006 8:05pm
Quoting C.E.O.
BFS,
I personally think you have a TON of education to offer and jump at any chance to learn something from a vet trader. Count me in. HOWEVER, I feel that your material should be in a post of its own. I understand why you jumped in here with the bollinger discussion, but what you are proposing to teach becomes irrelevant to this thread and brings its direction to a completely different topic. Let the Fozzy followers come to your thread , learn, and develop a strategy that they see fit to place here.

PLEASE, start a new thread, and give some of us some insight to your experience. I am quite confident you will have many a trader, new and old, there to suck up some of your techniques. I already have questions but I will wait for the new topic as this isnt the place.
With all due respect BFS, I agree with CEO. I can see you have alot of usefull info to share, but I fail to see how it relates to the true Fozzy method.

Just my 2 pips.

fxstc
If at first you don't succeed, keep on suckin til you do succeed.
  • #1,442
  • Dec 30, 2006 9:31pm Dec 30, 2006 9:31pm
C.E.O.:
Thanks for the idea. i'm all for it. how do we go about setting up this new thread? what should we name it? how do we re-direct interested parties from this thread to the new one? this is out of my league. looking forward to your advice. thanks.
/s/ bfs
memores acti prudentes futuri.
  • #1,443
  • Dec 30, 2006 10:30pm Dec 30, 2006 10:30pm
Hey BFS, glad to hear your up for it. Just go to the main page of the forums. I would put your thread in "trading systems" so just navigate your way there or just click this...
http://www.forexfactory.com/forexfor...splay.php?f=71

At the top left there is a link that says post new thread or just click this....
http://www.forexfactory.com/forexfor...newthread&f=71

Just set it up the way you would any post, the only difference is you have to make your thread title. Generally something with your name in it like "The BFS Strategy" or something like that.

Once thats done we can just post a link to your thread here and be done. Well in this thread at least
Let me know if you need any thing else, otherwise I will see you in your new thread.
  • #1,444
  • Dec 31, 2006 5:24pm Dec 31, 2006 5:24pm
You may be onto a good system (toooo complicated for me I think, grin) but go for it...just start a new thread elsewhere. I may jump over there and read a bit anyway. I'm on a few threads here at FF and it is good to keep them separate else mayhem would rule. Good luck and Happy New Year!!!
"Though this be madness, yet there is method in it." -Hamlet Act II
  • #1,445
  • Jan 1, 2007 2:16pm Jan 1, 2007 2:16pm
thanks for your direction. set up new thread "bfs method." will be moving over there with next post by the end of this week. /s/ bfs
memores acti prudentes futuri.
  • #1,446
  • Jan 1, 2007 2:36pm Jan 1, 2007 2:36pm
can anybody please help me find the rsi with ma & bb?

thanks a million
  • #1,447
  • Jan 1, 2007 3:57pm Jan 1, 2007 3:57pm
Quoting mosheber
can anybody please help me find the rsi with ma & bb?

thanks a million
Here's the all in one indicator.
Attached File(s)
File Type: zip AO_FozzySignal.zip   < 1 KB | 776 downloads
  • #1,448
  • Jan 1, 2007 7:13pm Jan 1, 2007 7:13pm
Evening chaps, been studying all of this thread for a while now, (Eyeballs somewhat crossed as a result!!) downloading some of the indicators and trying to get a feel for how it works.

Understand the principle(s) but on the version of AO Fozzy Signal 2 I have installed I noticed a few 'whipsawey' trades where the RSI nips over the RSI-MA and back again (specifically 7/8 Nov, 29/30 Nov, and again just before Xmas-OK I accept that this last example is not an ideal time to trade) but has anybody some sensible suggestions as to how to filter out some of the more 'spurious' trades? I've looked at using some other indicators, but most seem to be lagging the RSI/MAxover. Wondered about a x% figure through the ma (so if the xover is at 60, perhaps the indicator has to get 5% or 10% past that to give a 'better quality' signal. (I am on a GMT setup).

Just interested in people's thoughts

Many thanks
  • #1,449
  • Jan 1, 2007 7:41pm Jan 1, 2007 7:41pm
Quoting Kermit1964
Evening chaps, been studying all of this thread for a while now, (Eyeballs somewhat crossed as a result!!) downloading some of the indicators and trying to get a feel for how it works.

Understand the principle(s) but on the version of AO Fozzy Signal 2 I have installed I noticed a few 'whipsawey' trades where the RSI nips over the RSI-MA and back again (specifically 7/8 Nov, 29/30 Nov, and again just before Xmas-OK I accept that this last example is not an ideal time to trade) but has anybody some sensible suggestions as to how to filter out some of the more 'spurious' trades? I've looked at using some other indicators, but most seem to be lagging the RSI/MAxover. Wondered about a x% figure through the ma (so if the xover is at 60, perhaps the indicator has to get 5% or 10% past that to give a 'better quality' signal. (I am on a GMT setup).

Just interested in people's thoughts

Many thanks
No system is going to give 100% results. But go back over the year and the gains on the good trades should outway the losses on the bad trades.

Personally I don't use the Bollinger bands but I do apply a 50% level to the RSI and only go long if the RSI crosses the MA and is above the 50% level. The opposite is true for shorts.

I found this way you are trading with the trend more often than against it.

I back tested this approach from Jan 06 to Nov 06 against 20 pairs. Taking two trades, closing the first trade at the first Vegas fib level, moving to break even and closing the second trade at the next fib level.

The results were very surprising. 75% win (average against all pairs).

If anyone is interested I will post the results for all pairs. But it's late here in the UK and I really need some beauty sleep
  • #1,450
  • Jan 1, 2007 8:49pm Jan 1, 2007 8:49pm
Quoting Kermit1964
Evening chaps, been studying all of this thread for a while now, (Eyeballs somewhat crossed as a result!!) downloading some of the indicators and trying to get a feel for how it works.

Understand the principle(s) but on the version of AO Fozzy Signal 2 I have installed I noticed a few 'whipsawey' trades where the RSI nips over the RSI-MA and back again (specifically 7/8 Nov, 29/30 Nov, and again just before Xmas-OK I accept that this last example is not an ideal time to trade) but has anybody some sensible suggestions as to how to filter out some of the more 'spurious' trades? I've looked at using some other indicators, but most seem to be lagging the RSI/MAxover. Wondered about a x% figure through the ma (so if the xover is at 60, perhaps the indicator has to get 5% or 10% past that to give a 'better quality' signal. (I am on a GMT setup).

Just interested in people's thoughts

Many thanks
Hello,

Add a 28 SMA on top of the fozzy indicator and take the trades once the RSI crosses both lines. This will filter out a great number of bad trades.

Jason
  • #1,451
  • Jan 1, 2007 8:52pm Jan 1, 2007 8:52pm
Howdy Willf,

I would like to see your results and compare it to mine since I am not using the 50 line on the RSI as of yet.


Thanks in advance

Bill
"When there is no peril in the fight there is no glory in the triumph."
  • #1,452
  • Jan 1, 2007 9:02pm Jan 1, 2007 9:02pm
Howdy Jason,

I am having a challendge dropping the 28SMA onto the fozzy indicator.
A little direction appreciated.


Fellow Pip Hunter

Bill
"When there is no peril in the fight there is no glory in the triumph."
  • #1,453
  • Jan 1, 2007 9:12pm Jan 1, 2007 9:12pm
Quoting williamk
Howdy Jason,

I am having a challendge dropping the 28SMA onto the fozzy indicator.
A little direction appreciated.


Fellow Pip Hunter

Bill
Hi Bill,

Just drag the Moving Average indicator over onto the Fozzy window, enter 28 simple and select "first indicator" instead of close/open etc., and it will appear on your fozzy indicator.

Jason
  • #1,454
  • Jan 1, 2007 9:19pm Jan 1, 2007 9:19pm
Thanks buddy it worked perfectly


Bill
"When there is no peril in the fight there is no glory in the triumph."
  • #1,455
  • Jan 2, 2007 3:45am Jan 2, 2007 3:45am
Thanks for your input/insight so far, peeps!

Nobody using a particularly esoteric or personalised version of 'when the wind is in the east, but only on the 4th Wednesday after Valentine's day' or somesuch then!!!
  • #1,456
  • Jan 2, 2007 3:46am Jan 2, 2007 3:46am
Willf,
Would love to see your results (and the SL etc criteria used).
You should be energised today.....your lads batted well.....

Mungo
  • #1,457
  • Jan 2, 2007 7:50pm Jan 2, 2007 7:50pm
i'm having trouble saving and loading the template willf rececntly posted. I recall before have to save it as .tpl or something. Any suggestions?
Taking Life One Pip At A Time I officially have my own opinion.
  • #1,458
  • Jan 2, 2007 7:54pm Jan 2, 2007 7:54pm
Quoting MikeC
i'm having trouble saving and loading the template willf rececntly posted. I recall before have to save it as .tpl or something. Any suggestions?
It must have an extension of .tpl

The file posted as A0_FozzySignal.zip when unzipped is an mq4 file which you must compile, it is not a template. Is this the one you are talking about?
  • #1,459
  • Jan 2, 2007 8:01pm Jan 2, 2007 8:01pm
Ok here's the results of my backtest as promised.

The test was done manually (metatrader, pen, paper & calculator) so it's not 100% perfect but close enough. Yes it took ages. About 10 days to do.

The time period was Jan 06 until Nov 21 (before the big increases over thanksgiving).

The basic Fozzy setup was done without the bollinger bands. A 50 level was set on the RSI.

If the RSI crossed above the MA and the RSI was above the 50 level I went long.

If the RSI crossed below the MA and the RSI was below the 50 level I went short.

If the RSI crossed the MA but did not cross the 50 level I allowed two bars (two days) for it to do so if it crossed after that it was not traded.

Stops were placed at the previous days high or low.

Two trades were taken at the same time. The first trade was set at the nearest Vegas fib level. The second trade was set at the second Vegas fib level.

Once the first trade was hit the second trade was set to break even and allowed to continue until it hit it's target or was stopped out.

I tried to back test this as mechanically as possible without any discretion.

Maybe better results could be achieved with discretion. But on the other hand some trades that looked over/over sold worked out anyway. So maybe it's swings and roundabouts.
Attached File(s)
File Type: zip fozzy.zip   3 KB | 1,047 downloads
  • #1,460
  • Jan 2, 2007 8:04pm Jan 2, 2007 8:04pm
Quoting MikeC
i'm having trouble saving and loading the template willf rececntly posted. I recall before have to save it as .tpl or something. Any suggestions?
It's not a template it's an indicator. Unzip it and save it in metatrader in the Experts/Indicators folder. Restart Metatrader and you should find it under custom indicators.
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