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FOZZY Method CROSSES

  • #781
  • Nov 20, 2007 8:20am Nov 20, 2007 8:20am
Quoting petero
Hi,

I put in a sell stop at 1.6330 on Sunday-Monday GMT.
Hasn't hit the target yet. Order still pending.
It's certainly threatening to do it though.
Interesting how the Fozzy rules, when followed correctly, don't usually lead one astray.
I need to trust the system more and less my own optimistic anticipation.
The pips aint mine till they're in my account.

Good luck all.

Peter O
If you're using a Daily Fozzy method, there is no basis for a sell order. I'm waiting for a "Buy" signal.
  • #782
  • Nov 21, 2007 10:27am Nov 21, 2007 10:27am
Quoting BeachBum
If you're using a Daily Fozzy method, there is no basis for a sell order. I'm waiting for a "Buy" signal.

Now you have my attention, BeachBum. I'll look things over.
You're ready for a long & I'm waiting for a short.
Perfect opportunity to review interpretations of the rules & how they are applied.
And on charts, which signals apply & which don't.
I'm trying like h&%$ to learn.

But, if we're each waiting for a different move, and EUR/CHF hasn't done squat all week.....hmmm.
Time to re-read the rules.

Discovery of this site was a gift.
Thanks, BeachBum & everyone who contributes.

Peter O
  • #783
  • Nov 21, 2007 11:43am Nov 21, 2007 11:43am
This chart shows how I have traded this pair on the Daily chart; as soon as the 5 EMA crosses the 8 EMA, I will consider a Buy (oops.......have I failed to mention those two EMAs before?...........)
Attached Image (click to enlarge)
Click to Enlarge Name: eur_chf.png Size: 14 KB
  • #784
  • Nov 27, 2007 4:36pm Nov 27, 2007 4:36pm
No cross, but came across this and immediately thought of BB

https://media.expty.com/RFSImages/ba...i-crib2New.jpg
Trust price. Know yourself.
  • #785
  • Nov 27, 2007 4:40pm Nov 27, 2007 4:40pm
Quoting BeachBum
This chart shows how I have traded this pair on the Daily chart; as soon as the 5 EMA crosses the 8 EMA, I will consider a Buy (oops.......have I failed to mention those two EMAs before?...........)
Don't you mean a SHORT?
  • #786
  • Nov 27, 2007 5:09pm Nov 27, 2007 5:09pm
Quoting SeekingLight
No cross, but came across this and immediately thought of BB

https://media.expty.com/RFSImages/ba...i-crib2New.jpg
Sweet...........thanks SL!

BTW...........et_phonehome_2; exactly what are you calling SHORT?
  • #787
  • Nov 27, 2007 5:26pm Nov 27, 2007 5:26pm
Quoting BeachBum
Sweet...........thanks SL!

BTW...........et_phonehome_2; exactly what are you calling SHORT?
The 5/8 EMA cross would be a short position, you had a long position.... Nice to relax when earning those PIPs...
  • #788
  • Nov 27, 2007 5:43pm Nov 27, 2007 5:43pm
Quoting et_phonehome_2
The 5/8 EMA cross would be a short position, you had a long position.... Nice to relax when earning those PIPs...
Actually I was waiting for the 5 to cross UP over the 8, which it almost has on the Daily chart. But since I like using 4 hour charts to get a jump on my Fozzy-style trades, I entered this morning.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur_chf1.png Size: 13 KB
Click to Enlarge Name: eur_chf2.png Size: 10 KB
Click to Enlarge Name: eur_chf3.png Size: 13 KB
  • #789
  • Nov 27, 2007 5:54pm Nov 27, 2007 5:54pm
There are really numerous variations to basic Fozzy rules; here's another: nanningbob's 1 over 5 and the Synergy indicator.
Attached Image (click to enlarge)
Click to Enlarge Name: eur_chf4.png Size: 17 KB
  • #790
  • Nov 28, 2007 11:31am Nov 28, 2007 11:31am
Quoting BeachBum
Actually I was waiting for the 5 to cross UP over the 8, which it almost has on the Daily chart. But since I like using 4 hour charts to get a jump on my Fozzy-style trades, I entered this morning.
Nice trade BB....I got in on this one too!!
  • #791
  • Dec 7, 2007 6:27pm Dec 7, 2007 6:27pm
Sorry, but how is the Fozzy Method or the link..
thanks.
  • #792
  • Dec 7, 2007 6:45pm Dec 7, 2007 6:45pm
Quoting maksi86
Sorry, but how is the Fozzy Method or the link..
thanks.
Look back two posts to #789 and click on the big HERE at the bottom in BeachBum's signature.
  • #793
  • Dec 7, 2007 9:02pm Dec 7, 2007 9:02pm
i wasnt see that, really thanks
  • #794
  • Dec 9, 2007 9:12am Dec 9, 2007 9:12am
Here's a nice cross.
Attached Images
Those that can, do, those that can't, teach.
  • #795
  • Dec 9, 2007 3:10pm Dec 9, 2007 3:10pm
Hi, where i can find the indicators for this system?
  • #796
  • Dec 9, 2007 4:46pm Dec 9, 2007 4:46pm
Quoting Newbie
Hi, where i can find the indicators for this system?
Where have you looked?
  • #797
  • Dec 9, 2007 11:26pm Dec 9, 2007 11:26pm
Quoting pf1966
Here's a nice cross.
Yeah, I took that one. This was/is my first Fozzy trade after reading the whole thread. I based my trade on the Fozzy cross (obviously), the pin bar formation, retracement to the 38.2 fib line, and solar wind approaching the zero line. Price also closed below the 5 SMA (which I don't require but during the retrace it had acted as support). I'm currently down 25 pips but I still think this was a good trade because I followed my rules. Which is most important - I know!

My stop was about 107 pips (70% ATR plus took into account the 38.2 fib line). My 3% per trade risk rule allowed me to trade about three 0.3 mini lots.

My t/p's are 0.9941 (70% ATR), 0.9891 (100% ATR), and on the last one I'm using a t/s of 70% ATR.

I know some folks trade upwards of 20 pairs (I don't have a monitor big enough for that!) but i'm starting with following eight to learn off of: EURUSD, GBPUSD, AUDUSD, USDJPY, USDCHF, USDCAD, EURGBP, EURJPY. My goal with these is not to trade all of them at once (I've read a little about the dangers of currency correlation) but to find the best trade and take that one only.

Sorry for the long post, but since this was my first trade I wanted to document it thoroughly and post it for constructive feedback if anyone has any. Thanks.
  • #798
  • Dec 10, 2007 12:05am Dec 10, 2007 12:05am
Hi Lincoln! Well tought trade. I just want a wish you good luck for your first fozzy trade! Sebastien
  • #799
  • Dec 10, 2007 7:35am Dec 10, 2007 7:35am
Quoting Lincoln10
Yeah, I took that one. This was/is my first Fozzy trade after reading the whole thread. I based my trade on the Fozzy cross (obviously), the pin bar formation, retracement to the 38.2 fib line, and solar wind approaching the zero line. Price also closed below the 5 SMA (which I don't require but during the retrace it had acted as support). I'm currently down 25 pips but I still think this was a good trade because I followed my rules. Which is most important - I know!

My stop was about 107 pips (70% ATR plus took into account the 38.2 fib line). My 3% per trade risk rule allowed me to trade about three 0.3 mini lots.

My t/p's are 0.9941 (70% ATR), 0.9891 (100% ATR), and on the last one I'm using a t/s of 70% ATR.

I know some folks trade upwards of 20 pairs (I don't have a monitor big enough for that!) but i'm starting with following eight to learn off of: EURUSD, GBPUSD, AUDUSD, USDJPY, USDCHF, USDCAD, EURGBP, EURJPY. My goal with these is not to trade all of them at once (I've read a little about the dangers of currency correlation) but to find the best trade and take that one only.

Sorry for the long post, but since this was my first trade I wanted to document it thoroughly and post it for constructive feedback if anyone has any. Thanks.
Hello Lincoln10....

Trading this pair is always a challenge for me; I wish you the best with your first Fozzy-style trade! Your plan appears solid; stick to it.

Right now there is support at the 1.000 level. I believe a break below that will provide opportunity for further price decline.
  • #800
  • Dec 30, 2007 9:38am Dec 30, 2007 9:38am
Pure, clean, and simple.
1st TP 112.70
Next stop 111.50/80
Or possibly 110.00
All in one move?........ maybe.
If not I'll just continue to sell rallies til proven otherwise.
Attached Images
Those that can, do, those that can't, teach.
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