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My Daily Fozzy Trades

  • #281
  • Jan 31, 2007 2:43pm Jan 31, 2007 2:43pm
What do you guys think about the EURUSD, AUDNZD, and USDCHF willf crosses right now?
  • #282
  • Jan 31, 2007 4:33pm Jan 31, 2007 4:33pm
-I may be barking up the wrong tree here, and everyone's setup is different, but on my MTsetup, I'm looking at potential trades in

AUD/USD
EUR/CHF
EUR/JPN

be grateful for informed comments as to why people might not take these-that way I can amend my trade setup and perhaps more importantly, how I am visualising any potential trades.

Many thanks

Kermit
  • #283
  • Jan 31, 2007 6:18pm Jan 31, 2007 6:18pm
Lamdun,

I'm kind of new my self to this but I don't see any of the pairs you mentioned showing crosses in even the last two days.

Quoting Lamdun
What do you guys think about the EURUSD, AUDNZD, and USDCHF willf crosses right now?
Taking Life One Pip At A Time I officially have my own opinion.
  • #284
  • Jan 31, 2007 6:20pm Jan 31, 2007 6:20pm
Kermit,

I see slight crosses in eur/chf and eur/jpn. As i said in my response to lamdun, i'm new my self but those like very slight crosses. I think you want something with a bit more of an angle to the cross.

Quoting Kermit1964
-I may be barking up the wrong tree here, and everyone's setup is different, but on my MTsetup, I'm looking at potential trades in

AUD/USD
EUR/CHF
EUR/JPN

be grateful for informed comments as to why people might not take these-that way I can amend my trade setup and perhaps more importantly, how I am visualising any potential trades.

Many thanks

Kermit
Taking Life One Pip At A Time I officially have my own opinion.
  • #285
  • Jan 31, 2007 6:55pm Jan 31, 2007 6:55pm
Mike C

Thanks for your input, i see where you are coming from. Perhaps, (although I am a simple soul, so it may have escaped me) there is an 'angle of dangle' measure that can be incorporated so that crosses that are almost horizontal get the thumbsdown, (although they can still be profitable) whereas those that are near vertical are potentially 'better' trades.

I recall that Woodies CCI has an angle measuring device for the moving average, as was incorporated into trading strategies, (on the Trade Navigator package) but we need a kindly programmer to help us out!!
  • #286
  • Jan 31, 2007 9:43pm Jan 31, 2007 9:43pm
Earlier on in the thread I believe fozzy said that the angle doesn't necessarily matter although the steeper the better. And yes smaller ones can be profitable too. These ones seemed quite horizontal though, so it depends on your rules but i probably wouldn't take something like that.

Quoting Kermit1964
Mike C

Thanks for your input, i see where you are coming from. Perhaps, (although I am a simple soul, so it may have escaped me) there is an 'angle of dangle' measure that can be incorporated so that crosses that are almost horizontal get the thumbsdown, (although they can still be profitable) whereas those that are near vertical are potentially 'better' trades.

I recall that Woodies CCI has an angle measuring device for the moving average, as was incorporated into trading strategies, (on the Trade Navigator package) but we need a kindly programmer to help us out!!
Taking Life One Pip At A Time I officially have my own opinion.
  • #287
  • Feb 1, 2007 6:31pm Feb 1, 2007 6:31pm
Just wondering how others have faired this week? Wednesday's busy news day stopped me out of all positions except the eurcad. Not one of the better weeks but going by the Fozzy threads these weeks are few and far between.

I have taken no trades ydy or today so looking forward to next week and picking up some nice new trades. Have a good weekend everyone!
  • #288
  • Feb 1, 2007 6:57pm Feb 1, 2007 6:57pm
Quoting fresian
Just wondering how others have faired this week? Wednesday's busy news day stopped me out of all positions except the eurcad. Not one of the better weeks but going by the Fozzy threads these weeks are few and far between.

I have taken no trades ydy or today so looking forward to next week and picking up some nice new trades. Have a good weekend everyone!
Had a really poor week myself. But statistically speaking it was due.

Been riding high for quite a few weeks. Came back down to earth with a bump :
  • #289
  • Feb 2, 2007 3:41am Feb 2, 2007 3:41am
Quoting fresian
Just wondering how others have faired this week? Wednesday's busy news day stopped me out of all positions except the eurcad. Not one of the better weeks but going by the Fozzy threads these weeks are few and far between.

I have taken no trades ydy or today so looking forward to next week and picking up some nice new trades. Have a good weekend everyone!
This week I took only two trades, both on 31 Jan, both exited yesterday on trailing stops :

USDCAD -15 -15 -15 = -45
USDJPY +88 +46 +46 = +180

The USDJPY short was entered based on the RSI break back down through the 20sma and also 60 RSI level (it was at 59 as I entered the trade). Chart attached. This is a very discretionary Fozzy trade, but still based on the Fozzy concept.

J.
Attached Image
  • #290
  • Feb 2, 2007 1:07pm Feb 2, 2007 1:07pm
i had a good week actually if you dont count the current eurusd long, which is in red and still open .

my eurcad, cadjpy, gbpusd all successful. and these 3 alone would have been enough to offset the above potential eurusd loss, if oanda hadnt screwed up one lot on gbpusd today.

still not good enough to recoup my losses of last week, but i got overambitious last week. cant blame the system or the market for that.



Quoting willf
Had a really poor week myself. But statistically speaking it was due.

Been riding high for quite a few weeks. Came back down to earth with a bump :
  • #291
  • Feb 2, 2007 8:09pm Feb 2, 2007 8:09pm
Hey everybody,

I would like to thank you all (Fozzy, willf, etc) for getting me back to this system - I wandered in here by chance yesterday. I originally looked at this system many months ago (when I was still new to Forex and all of these 'systems') but after looking at 50 more afterwards, it got lost somehow & I forgot how effective it can be!

Willf - I will be implementing your RSI strategy (willf fozzy) as well as your ATR stops. I do have a question - when you use the vegas daily tunnel, do you just use 1, 3 on ALL pairs (both #'s) or do you use what vegas suggested for the majors? (I did see that you use just #1 I believe for two of those CHF pairs).

Thanks for the great contributions, and any future assistance

Take care,

D.
  • #292
  • Feb 2, 2007 8:37pm Feb 2, 2007 8:37pm
Actually, one more quick question

I was looking through some back-history on GJ and noticed that in a heavy trend, during times of consolidation/retracement, the rsi crosses back down. Then once the trend continues, it crosses back up - all of this while still being above 50rsi. Has anybody considered adding to their position each time this happens? If so, what were the general results? It seems to me that this would definitely increase the profit with minimal risk...

Thanks,

Derek
  • #293
  • Feb 3, 2007 6:32am Feb 3, 2007 6:32am
Quoting Daemien
Willf - I will be implementing your RSI strategy (willf fozzy) as well as your ATR stops. I do have a question - when you use the vegas daily tunnel, do you just use 1, 3 on ALL pairs (both #'s) or do you use what vegas suggested for the majors? (I did see that you use just #1 I believe for two of those CHF pairs).
I use 1+3 on all pairs except EURCHF & EURGBP. I use a modified version of vegas to make a smaller fib line because the movement is so little on these two pairs.

There is more about this in the main fozzy thread but here is what I posted originally
http://www.forexfactory.com/showpost...postcount=1491
  • #294
  • Feb 3, 2007 6:38am Feb 3, 2007 6:38am
Quoting Daemien
Actually, one more quick question

I was looking through some back-history on GJ and noticed that in a heavy trend, during times of consolidation/retracement, the rsi crosses back down. Then once the trend continues, it crosses back up - all of this while still being above 50rsi. Has anybody considered adding to their position each time this happens? If so, what were the general results? It seems to me that this would definitely increase the profit with minimal risk...

Thanks,

Derek
I don't add to a position. I always place two trades. Once the first TP is hit the second position it moved to BE until it either makes it's TP or gets stopped or I close it manually.
  • #295
  • Feb 6, 2007 11:25am Feb 6, 2007 11:25am
seem to be interesting maybes
  • #296
  • Feb 6, 2007 2:47pm Feb 6, 2007 2:47pm
It was getting quiet in here, hoping things start to line up.

Quoting coolshades
seem to be interesting maybes
Taking Life One Pip At A Time I officially have my own opinion.
  • #297
  • Feb 6, 2007 4:12pm Feb 6, 2007 4:12pm
taken this trade only. too many other trades still in the market. dont want to over expose myself.
  • #298
  • Feb 6, 2007 4:18pm Feb 6, 2007 4:18pm
..is it too close to the weekly high to take this confidently?
  • #299
  • Feb 6, 2007 4:34pm Feb 6, 2007 4:34pm
I saw this also. I just started this method. But, it does look like it could go to or close to the previous high at around 9900. IF, it makes it past 9745. Thats just my opinion. I would like to hear from Fozzy himself or one of the others though. I might take it on a mini just to see what it does. Good Luck.
  • #300
  • Feb 8, 2007 4:05pm Feb 8, 2007 4:05pm
USD CHF
USD JPY

both showing as possible trades, not sure about either as going against the short term downward trend.

thoughts?
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