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My Daily Fozzy Trades

  • #261
  • Jan 25, 2007 1:36pm Jan 25, 2007 1:36pm
Quoting coolshades
good point. todays wld be 4th candle. beyond my rules. yet another quiet night..

just 2 trades this week.
What about EURUSD, NZDUSD, and possibly cable if the RSI stays below the 50?
  • #262
  • Jan 25, 2007 2:00pm Jan 25, 2007 2:00pm
eurusd is a definite maybe. tight stops wld be good. note that the lowest in recent times is just about 50 pips away from the current price.

nzdusd i wldnt take. it hasnt stayed long below tunnel.

cable also i wldnt for same reason.

btw while i am flattered to be asked my opinion, i am a newbie its willf, beach, poeak and the likes you shd be asking



Quoting Lamdun
What about EURUSD, NZDUSD, and possibly cable if the RSI stays below the 50?
  • #263
  • Jan 25, 2007 2:28pm Jan 25, 2007 2:28pm
Well I took the following :

EURUSD. Some resistance at 1.2897 but that's only 30 pips off my entry price so I would expect it to push through.

GBPUSD. First TP set at the tunnel. Could be risky because it can bounce off the tunnel.

CADJPY. Was unsure because the RSI crossed the MA back on 22nd then bounced off the MA. I am going to risk it though. The days previous high for my stop makes it a small risk. Plus their is no resistance in it's way if it keeps going South.

Never took the NZDUSD. As Coolshades pointed out it hasn't stayed below the tunnel for any length of time recently.
  • #264
  • Jan 25, 2007 2:34pm Jan 25, 2007 2:34pm
i took the 1st and last.. the last is against the rules, but i wanted to test my discretion.



Quoting willf
Well I took the following :

EURUSD. Some resistance at 1.2897 but that's only 30 pips off my entry price so I would expect it to push through.

GBPUSD. First TP set at the tunnel. Could be risky because it can bounce off the tunnel.

CADJPY. Was unsure because the RSI crossed the MA back on 22nd then bounced off the MA. I am going to risk it though. The days previous high for my stop makes it a small risk. Plus their is no resistance in it's way if it keeps going South.

Never took the NZDUSD. As Coolshades pointed out it hasn't stayed below the tunnel for any length of time recently.
  • #265
  • Jan 25, 2007 3:13pm Jan 25, 2007 3:13pm
willf - when you TP at the tunnel, is it at the top or the bottom?

Also, is your SL always at yesterdays high/low?
  • #266
  • Jan 25, 2007 3:37pm Jan 25, 2007 3:37pm
With price bouncing back down off the tunnel I took the EURUSD, my only trade for today.
  • #267
  • Jan 25, 2007 3:39pm Jan 25, 2007 3:39pm
Quoting Lamdun
willf - when you TP at the tunnel, is it at the top or the bottom?

Also, is your SL always at yesterdays high/low?
Went for the bottom. Yes, SL is at previous days high/low.
  • #268
  • Jan 28, 2007 8:59am Jan 28, 2007 8:59am
DATE PAIR BUY/SELL PRICE TP1 TP2 PIPS
15-Jan AUDUSD BUY 0.7840 0.7900 0.7840 60
22-Jan EURCAD BUY 1.5312 1.5415 1.5312 103
25-Jan EURUSD SELL 1.2929
25-Jan GBPUSD SELL 1.9642 1.9585 57
25-Jan CADJPY SELL 102.48 102.82 102.82 -68

Total Closed This Week = 152
Total Still Open = 74 (2xEURUSD 1XGBPUSD)
Total = 226

Made a few mistakes this week by not sticking to the plan.

Closed my long AUDUSD early for 60 pips because I had been in the trade for almost a week and nothing much seemed to be happening. Shortly after it hit the first fib for what would have been 90 pips.

There was then a big reversal on the AUD which triggered signals on many pairs. I never took these feeling the previous move was too big and a reversal would catch me out. Most of these signals though would have made good pips.

I took CADJPY which was one day past my RSI/MA cross rule. It reversed within hours and stopped me out !

All in all though I came out at the end of the week with 152 pips in the bag and 74 more still in play so it wasn't all bad.

Note to self - "Follow The Plan" !!
Attached Image
  • #269
  • Jan 28, 2007 9:36am Jan 28, 2007 9:36am
bad week for me with audnzd and cadjpy wiping my gains. look forward to the coming week now.

Quoting willf
DATE PAIR BUY/SELL PRICE TP1 TP2 PIPS
15-Jan AUDUSD BUY 0.7840 0.7900 0.7840 60
22-Jan EURCAD BUY 1.5312 1.5415 1.5312 103
25-Jan EURUSD SELL 1.2929
25-Jan GBPUSD SELL 1.9642 1.9585 57
25-Jan CADJPY SELL 102.48 102.82 102.82 -68

Total Closed This Week = 152
Total Still Open = 74 (2xEURUSD 1XGBPUSD)
Total = 226

Made a few mistakes this week by not sticking to the plan.

Closed my long AUDUSD early for 60 pips because I had been in the trade for almost a week and nothing much seemed to be happening. Shortly after it hit the first fib for what would have been 90 pips.

There was then a big reversal on the AUD which triggered signals on many pairs. I never took these feeling the previous move was too big and a reversal would catch me out. Most of these signals though would have made good pips.

I took CADJPY which was one day past my RSI/MA cross rule. It reversed within hours and stopped me out !

All in all though I came out at the end of the week with 152 pips in the bag and 74 more still in play so it wasn't all bad.

Note to self - "Follow The Plan" !!
  • #270
  • Jan 28, 2007 9:54am Jan 28, 2007 9:54am
chfjpy seems to be the best of the lot so far
  • #271
  • Jan 28, 2007 7:53pm Jan 28, 2007 7:53pm
My trades for the week:

Open Pair Pips
12/1 AUDJPY 250 first TP hit week before
17/1 AUDCAD 123 first TP hit week before
19/1 NZDUSD 45,0
23/1 USDCAD -64,-65
23/1 AUDNZD 44, 0
25/1 AUDUSD 56 second order still open
26/1 EURUSD both orders still open

It was only trades from previous weeks that kept pips in the black.

Open trades:
AUDUSD => 59 pips
EURUSD => 23,24 pips

New trade today:
I took the USDCHF but stayed out of CADJPY as it had been sideways on daily for sometime and am happy to wait for trend.

I have been a bit all over the place with SL and TP's. Still yet to develop a consistent approach here.
Attached File(s)
File Type: doc Statement.doc   413 KB | 301 downloads
  • #272
  • Jan 29, 2007 12:23pm Jan 29, 2007 12:23pm
My analysis for today. I will take two trades: EURCAD & EURJPY

GPBJPY:
= need to trigger signal, but has good potential
=> no trade before confirmed fozzy signal

EURCAD:
= W: trend is reversing as tunnel & 50EMA has crossed 100 & 200EMA
= D: price just bounced of tunnel and we have tunnel>50EMA>100EMA>200EMA
= buy trigger, price action is long bullish bar (engulfing)
=> I will take this trade

USDCAD:
=> will not take the trade as it too much into resistance

EURJPY:
=W:strong uptrend with full flush (="tunnel>50EMA>100EMA>200EMA")
=D: price pierced tunnel and is still in full flush trend
= trigger is long, price has set 2 higher lows nicely and there is still room to the recent high
=> I will take this trade

EURCHF:
=> though the setup looks good, I will not take it as it is trading to close to wider Vegas band that is hasn't seen for a long wile.

CADJPY:
=> will not take the trade as it too much into resistance
  • #273
  • Jan 29, 2007 12:44pm Jan 29, 2007 12:44pm
This week has been extremely slow. I have seen traded 1 setup in EURUSD that I manually exited after two days for -28pips/lot.

I have included my current version of the tracking spreadsheet. I started to build a nice feature. Via the DDE link I will collect live quotes and based on the risk% per position and the S/L I want to use, the spreadsheet will automatically calculate the lots to enter. See the sheet: LIVE_QUOTES.

Hope this week will bring some action.

Poek
Attached File(s)
File Type: zip PaperTrading - MyFozzy v4.zip   34 KB | 261 downloads
  • #274
  • Jan 29, 2007 12:57pm Jan 29, 2007 12:57pm
Quoting willf
Well I took the following :

EURUSD. Some resistance at 1.2897 but that's only 30 pips off my entry price so I would expect it to push through.

GBPUSD. First TP set at the tunnel. Could be risky because it can bounce off the tunnel.

CADJPY. Was unsure because the RSI crossed the MA back on 22nd then bounced off the MA. I am going to risk it though. The days previous high for my stop makes it a small risk. Plus their is no resistance in it's way if it keeps going South.

Never took the NZDUSD. As Coolshades pointed out it hasn't stayed below the tunnel for any length of time recently.
Hi Willf are you placing the above trades based on the same way that you traded your backtest exprement, also are you still trading the same amount
of pairs that you did in the backtest? are there any changes to the way you are trading now or is it the same way that you traded the backtest sorry for all the questions, but it would really help to know

With Thanks

David -T
  • #275
  • Jan 29, 2007 6:44pm Jan 29, 2007 6:44pm
How do you get to look at more pairs on MT4 ie EurCad and EurJpy that Poekmeister was looking at?

Thanks
Taking Life One Pip At A Time I officially have my own opinion.
  • #276
  • Jan 29, 2007 6:52pm Jan 29, 2007 6:52pm
Quoting MikeC
How do you get to look at more pairs on MT4 ie EurCad and EurJpy that Poekmeister was looking at?

Thanks
Assuming your broker has those pairs, rightclick in the market watch area (where the pairs are) and select 'Show All'
-i trade currencies at the airport-
  • #277
  • Edited 6:27pm Jan 30, 2007 4:20pm | Edited 6:27pm
I use VT to trade which has the two pairs in question (EurCad/EurJpy, but I have an MT demo acct to look for the fozzy setups which does not have them. With whom may I open an MT demo account that has more pairs?

Figured it out.
Taking Life One Pip At A Time I officially have my own opinion.
  • #278
  • Jan 30, 2007 7:07pm Jan 30, 2007 7:07pm
It's looking like a busy day on the news front, might get a few of these currencies moving. I never took any new trades today but have the current positions:

AUDUSD
EURUSD
USDCHF
EURCAD
EURJPY

All are slightly in the red except AUDUSD which has already hit T/P1.

MikeC - No doubt there are others out there but I am using FXDD and they have those pairs.
  • #279
  • Jan 30, 2007 10:50pm Jan 30, 2007 10:50pm
fresian, the eurjpy is an old trade isnt it? what are you using for s/l?

Quoting fresian
It's looking like a busy day on the news front, might get a few of these currencies moving. I never took any new trades today but have the current positions:

AUDUSD
EURUSD
USDCHF
EURCAD
EURJPY

All are slightly in the red except AUDUSD which has already hit T/P1.

MikeC - No doubt there are others out there but I am using FXDD and they have those pairs.
  • #280
  • Jan 30, 2007 11:51pm Jan 30, 2007 11:51pm
Cool,

I entered on the 30th, so just yesterday with a cross up above the 50. Not sure what others are doing with stops but I don't begin to trail my s/l until 1st T/P is hit. Nothing hit yet so s/l is stil at day before low -1 pip (156.88). Sometimes my s/l is the fib other times the previous low/high, here I used previous day low as fib too far away.

The trade at the moment is looking like a goner....only just hanging in there!
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