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The Daily Fozzy Method

  • #1,801
  • Mar 18, 2007 8:49pm Mar 18, 2007 8:49pm
I recall when I compaired the difference the other day the chart with the "Sunday" bar was giving signals a day earlier than the one without.
I would think it could give some premature and false sigs as well if the next day instead of a followthrough there was a reversal..
BB must have given this some thought as he did mention the need for a "NO Sunday" chart..
  • #1,802
  • Mar 18, 2007 9:24pm Mar 18, 2007 9:24pm
Quoting BookerT
I recall when I compaired the difference the other day the chart with the "Sunday" bar was giving signals a day earlier than the one without.
I would think it could give some premature and false sigs as well if the next day instead of a followthrough there was a reversal..
BB must have given this some thought as he did mention the need for a "NO Sunday" chart..
Well I just been back through NF's charts and I can't see there will be much difference.

NF's Monday bar was always several pips off the Friday bar close price because there was always trading done (in the interbank market) before they opened.

In reality you base your trades off the previous bar, Fridays. On Tuesday you base your next trade off the Monday, not the Sunday bar.
  • #1,803
  • Edited 1:11am Mar 19, 2007 12:14am | Edited 1:11am
This was the longest thread I had to read in my whole life !
thank God I did finish it thought it kept me awake the whole night so I guess I'll have a cup of coffee and get dressed to go to college !
but first I would like to thank everyone who contributed to this forum weather asking, answering or proposing midifications
I plan on going live this week I think I'll go forward testing fozzy on the live account I can see it's been traded life for 7 months now with seccess and no backtesting can match this!
  • #1,804
  • Mar 19, 2007 4:05am Mar 19, 2007 4:05am
Hey feeder,

Quoting feeder2000
i think it is no worth to trade eur/gbp pair in fozzy, this pair really with no significant value since two strong and relatively stable currency are eur and cable, they bring us some changes with no reasonable. i guess most of player are forcing on eur/usd and eur/gbp, based on this reason, changes might be little with eur/gbp. However, if some adjustments can be done by changing parameter such as take first profit from 20-30. i am considering to change the target price level. or ..totally forget about the pair.
In my forward testing (with the EA) I did just that. I adjusted first TP to be at 20 pips (as opposed to 40) and the final TP at 80pips (not 130). These changes have allowed me to bank some pips on this pair as consistently as the volatile yens have.

Cheers,
Art...
  • #1,805
  • Mar 19, 2007 6:49am Mar 19, 2007 6:49am
Quoting Artamon
Hey feeder,


In my forward testing (with the EA) I did just that. I adjusted first TP to be at 20 pips (as opposed to 40) and the final TP at 80pips (not 130). These changes have allowed me to bank some pips on this pair as consistently as the volatile yens have.

Cheers,
Art...
Thx Artamon, are you using 2.2? i have an another question, how do you set the Eur/jpy and Gbp/jpy pairs? coz i think these pairs should have more range, one stoploss on both of them might be a disaster...
  • #1,806
  • Mar 19, 2007 8:53am Mar 19, 2007 8:53am
For those of you using NF charts for Fozzy trading........is NF your broker? Or are you just using their charts? I continue to use FXDD for charting ONLY because the service is excellent and I don't have to deal with this Sunday candle issue. An extra benefit is that the demo account does not expire. Worth a look for those who need charts and maybe a demo account only.

Quoting willf
It seems you get the bar for 1 hour. If you get a signal on that bar I would ignore it. Or wait and see what the next full bar does.

I can see it being a pain in the ass though.
  • #1,807
  • Mar 19, 2007 9:22am Mar 19, 2007 9:22am
use their charting and trade on oanda

Quoting BeachBum
For those of you using NF charts for Fozzy trading........is NF your broker? Or are you just using their charts? I continue to use FXDD for charting ONLY because the service is excellent and I don't have to deal with this Sunday candle issue. An extra benefit is that the demo account does not expire. Worth a look for those who need charts and maybe a demo account only.
  • #1,808
  • Mar 19, 2007 10:13am Mar 19, 2007 10:13am
Quoting BeachBum
For those of you using NF charts for Fozzy trading........is NF your broker?
NF is my broker and they don't have the Sunday candle problem. FXLQ which I also use does though.
  • #1,809
  • Mar 19, 2007 1:22pm Mar 19, 2007 1:22pm
Quoting jafar00
NF is my broker and they don't have the Sunday candle problem. FXLQ which I also use does though.
You may wanna check that. Since yesterday they changed their trading times. And in future they will have a 1 hour Sunday bar.
  • #1,810
  • Mar 20, 2007 12:17pm Mar 20, 2007 12:17pm
Quoting willf
You may wanna check that. Since yesterday they changed their trading times. And in future they will have a 1 hour Sunday bar.
Ah yes, so it is. Stupid daylight saving
  • #1,811
  • Mar 20, 2007 1:05pm Mar 20, 2007 1:05pm
I happened to find a possible solution for the Sunday Bar.

follow these instructions and you could delete the Sunday bar, would take about 30 seconds once a week.


. All you would need to do is go into the History Center (Tools > History Center, or press F2 on your keyboard) and delete the bars you don't want.

With your MT4 loaded just press F2 & the list in the History Center will pop up.
find the pair you need to change from the list double click that pair & choose what you need to delete. (date)
You might have to delete each timeframe individualy, not sure about that....

( I haven't done this but it is from the IBFX forum)
  • #1,812
  • Mar 20, 2007 3:07pm Mar 20, 2007 3:07pm
willf..............I'm not saying you are wrong, but I just cannot imagine a broker setting their charting so as to produce a 1 hour Daily candle/bar!? Has anyone actually seen one of these?

Quoting willf
You may wanna check that. Since yesterday they changed their trading times. And in future they will have a 1 hour Sunday bar.
  • #1,813
  • Mar 20, 2007 3:25pm Mar 20, 2007 3:25pm
This is a daily chart for GBPUSD.

Really can't understand why they have done it. I can only assume they thought they may be able to squeeze in an hours more trading ?
Attached Image
  • #1,814
  • Mar 20, 2007 4:25pm Mar 20, 2007 4:25pm
seeing is believing...............thanks!

Quoting willf
This is a daily chart for GBPUSD.

Really can't understand why they have done it. I can only assume they thought they may be able to squeeze in an hours more trading ?
  • #1,815
  • Mar 21, 2007 6:14am Mar 21, 2007 6:14am
Hello,

I have downloaded the AO_Fozzy Sinal template but I have two questions that hopefully the great masters that visit this thread will be able to answer:

1- If I draw a line along the 50 mark, would that mark be the 50 mark for the RSI? I know it sounds silly, but since this is a complete template i do not know if tha parameters have changed.

2- Why didn't I get a spike to 100 in the EURO/CHF pair, even though the MA has been crossed to the long side (a text book Fozzy, as i understand it?)

Please don't ask me to read all the thread. I have been here before, left for a period of time, and now i am back. But before posting this question, and even daring to look at the charts again, I went again through the whole thread to refresh and update my memory.
  • #1,816
  • Mar 21, 2007 9:33am Mar 21, 2007 9:33am
Hello alcastro................welcome back!

I'm not a "great master", but I'll try to help. OK, you've already re-read the thread, so I'll skip the usual "lecture" about that..... .

1. Yes. You can confirm this by "building" your own "Fozzy" indicator by dragging the MA onto the RSI window and then draw a "50" line.

2. Good question. IMO this points to a deficiency in this indicator. I don't know why or what is askew; but I have learned to use this indicator carefully. I STILL look at the MA and the RSI very carefully to be sure of what I am looking at AND seeing. Then I start to make a trading decision. (I've seen this phenomenom before......be careful with the indicator).

Remember: this can be a very profitable and successful trading method when used properly and carefully......

Quoting alcastro
Hello,

I have downloaded the AO_Fozzy Sinal template but I have two questions that hopefully the great masters that visit this thread will be able to answer:

1- If I draw a line along the 50 mark, would that mark be the 50 mark for the RSI? I know it sounds silly, but since this is a complete template i do not know if tha parameters have changed.

2- Why didn't I get a spike to 100 in the EURO/CHF pair, even though the MA has been crossed to the long side (a text book Fozzy, as i understand it?)

Please don't ask me to read all the thread. I have been here before, left for a period of time, and now i am back. But before posting this question, and even daring to look at the charts again, I went again through the whole thread to refresh and update my memory.
  • #1,817
  • Mar 21, 2007 9:47am Mar 21, 2007 9:47am
Quoting BeachBum
Hello alcastro................welcome back!

I'm not a "great master", but I'll try to help. OK, you've already re-read the thread, so I'll skip the usual "lecture" about that..... .


Remember: this can be a very profitable and successful trading method when used properly and carefully......
Thanks for your answers BB.
I have been reading your posts, and those from other veteran "fozziers" and have learned a lot from them.
I am looking forward to trading this system again-with discipline and hopefully,consistency.
By the way, your results are amazing!!!

A question for you. I read - green with envy- that you spent some time in Italy. Was that a holiday trip, or was it tending to your "other" job duties? If it was a holiday trip, did fozzy pay for it?
  • #1,818
  • Mar 21, 2007 9:53am Mar 21, 2007 9:53am
Quoting alcastro
Thanks for your answers BB. Your welcome!
I have been reading your posts, and those from other veteran "fozziers" and have learned a lot from them.
I am looking forward to trading this system again-with discipline and hopefully,consistency.
By the way, your results are amazing!!!

A question for you. I read - green with envy- that you spent some time in Italy. Was that a holiday trip, or was it tending to your "other" job duties? If it was a holiday trip, did fozzy pay for it? Interesting questions.......I'll answer by PM......
..
  • #1,819
  • Mar 21, 2007 10:49am Mar 21, 2007 10:49am
Alcastro

There are two indicators available in this thread, one is FozzySignal and the other is FozzySignalAll, the first one uses bollinger bands the second one does not, maybe that is why you have not a signal for EUR/CHF.

I have a long signal for this pair on the close of 19th.
Regards
  • #1,820
  • Mar 21, 2007 11:29am Mar 21, 2007 11:29am
Quoting howard
Alcastro

There are two indicators available in this thread, one is FozzySignal and the other is FozzySignalAll, the first one uses bollinger bands the second one does not, maybe that is why you have not a signal for EUR/CHF.

I have a long signal for this pair on the close of 19th.

Thanks Howard.
Which one did you use?
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