fozzy - my experiment

hello guys,

Firstly i want to thank fozzy for sharing his simple method. This technique caught my attention since the first day for its simplicity and profitability. I've been demoing and recently gained over 2000 pips in less than 2 weeks, see it here http://forexfactory.com/showpost.php...postcount=1675 . But then i stopped for a while as i thought the reward/risk ratio is not big enough. Now i want to give it another shot. In this thread, i will keep posting my trades and updating the results.

Basically, i do it with a little discretion, enter 2 lots with SL at ATR(10), once price moves in my favor for 0.5 ATR pips, i close the first lot and move the second lot to break even. All prices stated here are from fxdd demo platform so you all can help me verify.

No trades for Monday.

happy trading.

Hey I made a Fozzy EA modification that could maybe help your experiment. I changed it so all the TP, SL, TS are based on ATR. Im currently using this on my live FXDD account but im using the default values. You can easily change them to suit your experiment.

I attached the EA below.

-Mikhail

Thank you mikhaildgreat, appreciate your help. There are many trades for today so i just upload it here.

The trades eur/aud, eur/cad, eur/gbp, usd/cad, usd/chf are from last week. I modified my rules a bit.

Enter with 1 lot only.
SL = Recent high (low) or 0.7 ATR, whichever is lower (higher)
Trailing SL = 1.5 ATR.

With this modification i will have more unprofitable trades, but i expect they will be compensated by a small number of big gains.

i've enjoyed your posts on "my daily fozzy trades". I will follow your trades here.

Thank you MikeC, and coolshades.

The EUR/AUD short position was stopped out at break even point. My 150 pip profit has gone but that's the price for riding big trends, like today (up 1500 pips as i am writing ) Oh, USD/CAD short got stopped out too with 56 pip loss

Statistics:
#trades: 2
win: 0
loss: 1
break even: 1
max consecutive loss for each pair: 1
P/L in %: -2%
P/L in pips: -56 pips

Here's the update.

Hi Mikhail, thanks a lot for your great work and your determination about programming the best EA !

I would like to know, what time frame for your ATR EA ?

Thanks Mikhail !

Luk

hey Richy,
I like the ATR idea as the basis for the trade; but i am wondering which EA you updated - the 2.1 or 2.2? I am demoing them both (simultaneously) and am witnessing some difference in performance.
Thanks in advance,
freemark

freemark, i'm not using any EA, just doing manually

oops - sorry, I meant to ask Mikhail - is this an update of the Foz 2.1 or 2.2?
thanks again,

Hi this EA is a V2.2 Modification, I havnt tried 2.1 yet... which of the 2 versions have you found to perform better?

Hmmm... Actually I sometimes do not agree with the trades the EA makes... Im thinking of starting from scratch for the next version of Fozzy ATR EA. will inform you what i come up with.

-Mikhail

Closed EUR/JPY and AUD/JPY for 400 pips and 275 pips respectively. Those are equivalent to 20% gain in equity, 10% from each position (I risk 2% on every trade).

Still trailing stops for other positions with guaranteed P/L in %:
CHF/JPY L: 2%
EUR/CAD L: 2%
EUR/GBP S: -2%
GBP/JPY S: 4%
USD/CHF S: 0%

Some stats:

#trades: 4
win: 2
loss: 1
break even: 1
max consecutive loss for each pair: 1
P/L in %: 18%
P/L in pips: 619 pips

Nice work Richy. Do you post your trades at conception?

Hi richy,

Just wanted to say congratulations on your trades these last few days

Great stuff - keep your nerve when things are not so great and remember days/weeks like this because they are worth it when they happen

Kind Regards
Steve

JokersWild, Steve, thank you for your encouragement.

Yeap, Steve you are right, market has been generous during the past few days, so i am trying to enjoy this wonderful trend as long as i can . I hope I can achieve the hit rate of 45-50% over the long run

Right now the downside of this strategy is that (SL=0.7ATR, trailing distance=1.5ATR), price could move in my favor for 0.7ATR pips and come back hit my SL. That would be painful. However, if i used 0.7 ATR (=SL) as trailing distance, i would be frequently stopped out resulting break even trades. This is not good either.

My EUR/GBP short position was stopped for a -35 pip loss, or -2% loss in equity.

This is an example of the drawback of this strategy described above. Previously EUR/GBP moved down 35 pips (equivalent to 2% equity) but then it reversed back and hit my SL today.

Still trailing stops for other positions with guaranteed P/L in % of equity:

CHF/JPY: 4%
EUR/CAD: 2%
GBP/JPY: 8%
USD/CHF: 0%

no new trades for Monday. Here's some stats

just for fun

http://img265.imageshack.us/img265/5223/1000ar9.jpg

TakeProfit= 1.5 ATR?

1.5 ATR is my trailing distance. EUR/JPY and AUD/JPY were closed at 7.5 ATR