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The Daily Fozzy Method

  • #1,881
  • Mar 26, 2007 9:33pm Mar 26, 2007 9:33pm
As Pink Floyd once said: "Is anyone out there?"
  • #1,882
  • Mar 26, 2007 9:52pm Mar 26, 2007 9:52pm
Quoting alcastro
As Pink Floyd once said: "Is anyone out there?"
I think so. I used to have a lot of their albums.

Started demo trading "fozzy" last week.
  • #1,883
  • Mar 26, 2007 11:26pm Mar 26, 2007 11:26pm
  • #1,884
  • Edited 7:55am Mar 27, 2007 7:15am | Edited 7:55am
Pink Floyd fan here too!

IMO there isn't much being posted here because there really isn't anything to add to this great method of trading. The occasional observation or two, questions from the newbies, maybe a small tweek. But really this method works extremely well as we have discussed and refined it here in this thread. Artamon has a thread where he and a few others are discussing individual daily trades, so there's some chatter there. A few people are trying to refine the Fozzy EA to make it work. I started a thread to see if anyone is using the Fozzy on smaller time frames, but that didn't generate very much activity. What can I say? In this case: "less is more"!

Quoting alcastro
As Pink Floyd once said: "Is anyone out there?"
  • #1,885
  • Mar 27, 2007 7:54am Mar 27, 2007 7:54am
Quoting The Wizard of Oz
I think so. I used to have a lot of their albums.

Started demo trading "fozzy" last week.

Hey me too - started last Thursday - have live account with IBFX and now opened a demo with FXDD to avoid the Sunday candle.

So far closed with +47pips and current opended in chfjpy and usdchf combined are negative - no worries though. Feels good for a novice to the system.

Nice to see people around even though it's been quite lately.

  • #1,886
  • Mar 27, 2007 12:31pm Mar 27, 2007 12:31pm
Phew!!!

It is good to know that this is not an empty house. I know that BB has a temporary residence here because now and then he sends some lazy people to square one.

As I said i came back to Fozzy after a season looking at other systems. Re-started this week and got stopped out today of Us/JP. Not many set-ups for my pairs yet. Hopefully I'll see more action as the week progresses.
  • #1,887
  • Mar 27, 2007 1:21pm Mar 27, 2007 1:21pm
Quoting alcastro
Phew!!!

It is good to know that this is not an empty house. I know that BB has a temporary residence here because now and then he sends some lazy people to square one................

As I said i came back to Fozzy after a season looking at other systems. Re-started this week and got stopped out today of Us/JP. Huh? See my other post..... Not many set-ups for my pairs yet. Hopefully I'll see more action as the week progresses.
..
  • #1,888
  • Mar 27, 2007 1:52pm Mar 27, 2007 1:52pm
Greetings fellow Fozziers,

I have backtested the four majors from January 2006 to March 2007 and confirmed that 73% of all original Fozzy signals turn out to be winning trades. (+/- 120 trades in total) This translates on average to 130 pips profit per month. Fantastic by any standards!

I found one or two heart-stopping drawdowns... but compared to other systems and employing proper money management, this system is capable of delivering a positive expectation.

All credit to a simple yet elegant system. But as Fozzy stressed in his first few posts... you need patience for the right setups and dicipline to stick with the regime. By all means tweak with discretion as 120 pages of this thread show -- but the heart of the beast belongs to Fozzy.
  • #1,889
  • Mar 27, 2007 2:11pm Mar 27, 2007 2:11pm
Apply a bit of common sense with it. Also as a friend of mine calls them-the "funamentals" need to be considered as well.
T
  • #1,890
  • Mar 27, 2007 2:16pm Mar 27, 2007 2:16pm
I'm not sure about 130 pips amonth. I do many multiples of that each month. Maybe we need a JokersWild Log. Following the USDCHF yielded way over that in a 2week timeframe


Quoting hazel1919
Greetings fellow Fozziers,

I have backtested the four majors from January 2006 to March 2007 and confirmed that 73% of all original Fozzy signals turn out to be winning trades. (+/- 120 trades in total) This translates on average to 130 pips profit per month. Fantastic by any standards!

I found one or two heart-stopping drawdowns... but compared to other systems and employing proper money management, this system is capable of delivering a positive expectation.

All credit to a simple yet elegant system. But as Fozzy stressed in his first few posts... you need patience for the right setups and dicipline to stick with the regime. By all means tweak with discretion as 120 pages of this thread show -- but the heart of the beast belongs to Fozzy.
Attached Image
T
  • #1,891
  • Mar 27, 2007 2:20pm Mar 27, 2007 2:20pm
I'm not taking this EUR cross because of the limited upside. Yes, it could bust thru the highs but not on my nickel
Attached Image
T
  • #1,892
  • Mar 27, 2007 2:46pm Mar 27, 2007 2:46pm
I concur...........and was wondering about the math used by hazel (or maybe I should question the T/P values?).

Quoting JokersWild
I'm not sure about 130 pips amonth. I do many multiples of that each month. Maybe we need a JokersWild Log. Following the USDCHF yielded way over that in a 2week timeframe
  • #1,893
  • Mar 27, 2007 2:47pm Mar 27, 2007 2:47pm
No cross on my FXDD "Fozzy" charts........saved by "the method".....

Quoting JokersWild
I'm not taking this EUR cross because of the limited upside. Yes, it could bust thru the highs but not on my nickel
  • #1,894
  • Mar 27, 2007 3:29pm Mar 27, 2007 3:29pm
Anybody else take the AUDCAD?

Looks good to me
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  • #1,895
  • Mar 27, 2007 3:52pm Mar 27, 2007 3:52pm
I jump the gun on the EURAUD and entered long @ 65.09 earlier. Thanks BB- need to set up a demo tonight w/FXDD. Thanks for the heads-up and info everyone
T
  • #1,896
  • Edited 5:10pm Mar 27, 2007 4:33pm | Edited 5:10pm
Quoting BeachBum
..
BeachB,

Which other post? I looked back but didn't find it!!


Edit: Never mind BB...I found it. You are ubiquitous!!!!!
  • #1,897
  • Mar 27, 2007 8:39pm Mar 27, 2007 8:39pm
You can only edit your own posts within 24hrs or so.

Quoting libertao
I think someone with a post on the first page (ideally Fozzy) should edit in Fresian's document from post #1523.

Migamb, my understanding is that, the AO_SignalALL indicator in post #212 gives a signal on any cross, regardless of Bollinger Bands, as opposed to the indicators posted in #182.
Taking Life One Pip At A Time I officially have my own opinion.
  • #1,898
  • Mar 28, 2007 1:16am Mar 28, 2007 1:16am
Quoting BeachBum
I concur...........and was wondering about the math used by hazel (or maybe I should question the T/P values?).
SL was set at the previous day's H/L. I used the usual two lots. One lot TP on the first Vegas Fib and the second TP on the second Fib while moving my SL to BE.

To confirm: +130 pips per month gain was the average per pair. If all four pairs were traded it would have averaged 520 pips per month.

Interestingly, all pairs seemed to have out times of up to 30 days + where no entry signal was evident. (Patience)

Took me a few hours with calculator and pencil so I can't vouch for 100% accuracy. I am satisfied that the results are close enough.

My next test is to compare the Fozzy with SL set at 100% ATR10 and 70% ATR10. Will post results as soon as its done.

Basically I did this to confirm what this thread has already stated numerous times. ie. The Foz Rocks!
  • #1,899
  • Mar 28, 2007 2:39am Mar 28, 2007 2:39am
Hi
am I right that we will get Fozzy Setups for most of the major currencies tonight ? (USDCAD,GBPUSD,EURJPY,USDJPY,NZDUSD)

Would anybody take all the trades ?

Greetings Till
  • #1,900
  • Mar 28, 2007 6:36am Mar 28, 2007 6:36am
Excellent hazel...............thanks for clarifying AND sharing your work!

Quoting hazel1919
SL was set at the previous day's H/L. I used the usual two lots. One lot TP on the first Vegas Fib and the second TP on the second Fib while moving my SL to BE.

To confirm: +130 pips per month gain was the average per pair. If all four pairs were traded it would have averaged 520 pips per month.

Interestingly, all pairs seemed to have out times of up to 30 days + where no entry signal was evident. (Patience)

Took me a few hours with calculator and pencil so I can't vouch for 100% accuracy. I am satisfied that the results are close enough.

My next test is to compare the Fozzy with SL set at 100% ATR10 and 70% ATR10. Will post results as soon as its done.

Basically I did this to confirm what this thread has already stated numerous times. ie. The Foz Rocks!
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