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My Daily Fozzy Trades

  • #181
  • Jan 17, 2007 1:00pm Jan 17, 2007 1:00pm
Quoting BeachBum
LOOK: HERE and HERE
Thanks man. wouldn't you know it is in the original thread!
Don Life is expensive, but includes a free trip around the sun.
  • #182
  • Jan 17, 2007 1:40pm Jan 17, 2007 1:40pm
Isn't that always the way.............

Quoting traderone
Thanks man. wouldn't you know it is in the original thread!
  • #183
  • Jan 18, 2007 12:18am Jan 18, 2007 12:18am
sorry for echoing Beach here.. the way we are using Bhoy's journal is to post about daily/weekly trades and thoughts on the same.. all fozzy system refinements will still go to the main post.

in that manner the main thread is not disrupted by 'noise'

Bhoy - thks for keeping this going.
Quoting BeachBum
Isn't that always the way.............
  • #184
  • Jan 18, 2007 6:59am Jan 18, 2007 6:59am
Looks like EUR/CHF will have valid willf cross today for a possible long entry tomorrow. I would like opinions from others on this potential trade. I am a little hesitant due to price being at/near a long term high. Maybe if it can close today above the double top on the daily chart I would feel better about it.

Any thoughts??

Bill
  • #185
  • Jan 18, 2007 7:18am Jan 18, 2007 7:18am
Some time ago willf suggested using the RSI 50 value as a filter/indicator for the Fozzy method. I suggest you look back at this pair and apply that suggestion. What do you see? How would that affect your trade decision later today?

I have not had enough time to thoroughly examine willf's modification, but my first impression is that this is a good filter; for some pairs in particular.

Quoting TraderBill
Looks like EUR/CHF will have valid willf cross today for a possible long entry tomorrow. I would like opinions from others on this potential trade. I am a little hesitant due to price being at/near a long term high. Maybe if it can close today above the double top on the daily chart I would feel better about it.

Any thoughts??

Bill
  • #186
  • Jan 18, 2007 9:54am Jan 18, 2007 9:54am
not taking this willf fozzy for the very same reason you mentioned. cant see any other willf crosses. looks like another early night

Quoting TraderBill
Looks like EUR/CHF will have valid willf cross today for a possible long entry tomorrow. I would like opinions from others on this potential trade. I am a little hesitant due to price being at/near a long term high. Maybe if it can close today above the double top on the daily chart I would feel better about it.

Any thoughts??

Bill
  • #187
  • Jan 18, 2007 11:46am Jan 18, 2007 11:46am
Quoting BeachBum
Some time ago willf suggested using the RSI 50 value as a filter/indicator for the Fozzy method. I suggest you look back at this pair and apply that suggestion. What do you see? How would that affect your trade decision later today?

I have not had enough time to thoroughly examine willf's modification, but my first impression is that this is a good filter; for some pairs in particular.
Hi BB

Yes, this fiter increases the win loss ratio considerably, please give it a test.
Regards
  • #188
  • Jan 18, 2007 12:34pm Jan 18, 2007 12:34pm
howard..............thanks for the suggestion!


Quoting howard
Hi BB

Yes, this fiter increases the win loss ratio considerably, please give it a test.
  • #189
  • Jan 18, 2007 3:29pm Jan 18, 2007 3:29pm
Pretty stoked with my first week trading this system. Have currently closed out 458 pips in trades (684pips on winning trades, -226 on losing) with 216 still on the table (half of audjpy and audcad positions still open, 1st T/P already hit with SL now at BE). While I realise a week isn't an indication of how it's going to perform over time for me, it's certainly an encouraging start!

In terms of positions over the w/end I was wondering are people holding on, tightening stops, closing out and reopening or just closing out altogether? No doubt a discretionary thing and no one probably has one rule but thought I would ask.

In terms of new trades I have valid willf Fozzy setups for both nzdusd and eurcad (both buys) which I will take. Anyone else taking these?

Thanks again to Fozzy, accrete, Bbum, willf and everyone else who has made the Fozzy what it is.
  • #190
  • Jan 18, 2007 8:19pm Jan 18, 2007 8:19pm
Quoting fresian
Pretty stoked with my first week trading this system. Have currently closed out 458 pips in trades (684pips on winning trades, -226 on losing) with 216 still on the table (half of audjpy and audcad positions still open, 1st T/P already hit with SL now at BE). While I realise a week isn't an indication of how it's going to perform over time for me, it's certainly an encouraging start! Well done, this is a robust system that produces good results over an extended period of time.

In terms of positions over the w/end I was wondering are people holding on, tightening stops, closing out and reopening or just closing out altogether? No doubt a discretionary thing and no one probably has one rule but thought I would ask. I tighten up if appropriate and hold open on the weekends.

In terms of new trades I have valid willf Fozzy setups for both nzdusd and eurcad (both buys) which I will take. Anyone else taking these? I'm already in both of these.

Thanks again to Fozzy, accrete, Bbum, willf and everyone else who has made the Fozzy what it is. Your welcome, I think it's fantastic that so many of us can trade successfully with this method.......
...
  • #191
  • Jan 18, 2007 8:44pm Jan 18, 2007 8:44pm
That EURCAD was not a Wilf method. The RSI was below 50.
Mr. Trend
  • #192
  • Jan 18, 2007 9:54pm Jan 18, 2007 9:54pm
Thanks Beach for your feedback on w/end positions and your words of encouragement. I think the only thing that stands in the way of the system now is the trader!

Trend - the RSI finished above 50 after the cross on my chart but only just. It was 50.6. It has already hit my first T/P.
  • #193
  • Jan 18, 2007 11:11pm Jan 18, 2007 11:11pm
Quoting fresian
Thanks Beach for your feedback on w/end positions and your words of encouragement. I think the only thing that stands in the way of the system now is the trader!

Trend - the RSI finished above 50 after the cross on my chart but only just. It was 50.6. It has already hit my first T/P.
Ahh... so it's the point of the cross, not necessarily where it was when it crossed...
Mr. Trend
  • #194
  • Jan 18, 2007 11:34pm Jan 18, 2007 11:34pm
I've been studying/trading this method for several months now across various timeframes and it's an excellent system. Of course, it follows price action and serves like a compass for me. The lower the time frame, the more difficult it is to read. On lower timeframes, I rarely wait for the cross to happen. For scalping purposes, I like to put the EU on one screen and the UC on another and trade the EU because of the smaller spread (2 pips). Combined with pivot points and fibs or really just visual observation, it's relatively simple to snatch 10 pips here and there all day long. I daytrade a mini account and when you put 50 minis on there a few times a day it adds up fast. I have another account that I do my Fozzy swing trades with. People on the FF run around like cockroaches in search of a system that will work. This truly works and if you will study it and master it- you can do it. Thanks to all of you Fozzy Folks for your contributions. If you have any doubts about the system, have a look at this GU chart.
Attached Image
Trade what you see - Not what you think
  • #195
  • Jan 18, 2007 11:39pm Jan 18, 2007 11:39pm
eurcad crossed rsi past my candle open so frankly i am not sure whether to take trade or not.

question here to willf, beach and everyone else.. do you take a trade if the willf set up is right, even if you have missed the candle open?


nzdusd was not a willf trade really.. rsi did cross 50 but this was 4th or 5th candle past the fozzy cross.. good luck in any case.



Quoting fresian
Thanks Beach for your feedback on w/end positions and your words of encouragement. I think the only thing that stands in the way of the system now is the trader!

Trend - the RSI finished above 50 after the cross on my chart but only just. It was 50.6. It has already hit my first T/P.
  • #196
  • Jan 18, 2007 11:41pm Jan 18, 2007 11:41pm
Fozzies:

Don't pass up the 15 minute charts- how is this for a little 10 pip snack before London opens
Attached Image
Trade what you see - Not what you think
  • #197
  • Jan 18, 2007 11:43pm Jan 18, 2007 11:43pm
start making coolshades trades-forget willf or bb trades-


Quoting coolshades
eurcad crossed rsi past my candle open so frankly i am not sure whether to take trade or not.

question here to willf, beach and everyone else.. do you take a trade if the willf set up is right, even if you have missed the candle open?


nzdusd was not a willf trade really.. rsi did cross 50 but this was 4th or 5th candle past the fozzy cross.. good luck in any case.
Trade what you see - Not what you think
  • #198
  • Edited 11:56pm Jan 18, 2007 11:46pm | Edited 11:56pm
Coolshades-

The EC trade happened days ago- I'm confused I don't mean to be a prick- I'm killing some time here and I don't like being inactive. If you look at this chart- a daily, which you should everyday if you are trading. Right? The thing that sticks out first and foremost to me is the consolidation around the 151 mark. that happens for a reason. therefore, we are looking for a long entry. The stops are fairly obvious. Also look at where this pair has been- about 300 pips higher. there is a reason for that. Anyway I think you get the idea. Think about these charts. Make love to them! figuratively speaking anyway! Go Figure!
Attached Image
Trade what you see - Not what you think
  • #199
  • Jan 19, 2007 6:27am Jan 19, 2007 6:27am
fresian is correct................

Quoting Mr Trend
Ahh... so it's the point of the cross, not necessarily where it was when it crossed...
  • #200
  • Jan 19, 2007 6:38am Jan 19, 2007 6:38am
Quoting summitfx
People on the FF run around like cockroaches in search of a system that will work. This truly works and if you will study it and master it- you can do it.
IMO this statement says it all!

Thanks summitfx for posting some excellent observations about lower time frames and Fozzy trading in general; I enjoy reading your posts.
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