Fozzy-style trading techniques -
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thread: Fozzy-style trading techniques

  1. #11
    Hi all...

    Hope that this improvement is a bit clearer....

    You'll notice that I have white X in the RSI box...I mark this region if the 8/8 strikes OB/OS and keeps me alert to get a crossover.

    Also notice that price did come back and struck my 3ema limit order following the cross....while price might have bounced a bit and remained relatively flat for a few bars....the 8/8 trend remained intact.

    I shut the transaction shortly after the OS (X) and then an 8/8 cross.

    WHY did I go long on this great cross??? ....asleep at the switch? , never drink and trade? , seeing too much Porn at the time? , did I get diverted? ...I don't have any answer for ya....all I will say is I MISSED IT!!!!

    I don't trade news, yet if one were to have a look at the news on Friday morn.edt, the fozzy on the 15 was GREAT calling the change from round the 3715 region ( not sure where the specific entry could have been )....though if interested, I could pull that chart pic, also show what I'd have done had I had been trading at the time. EDUCATIONAL ONLY, I DID NOT TAKE THE NEWS TRADE FRIDAY MORN.

    BTW. . .because this is really a planned SCALP...I did not avg up as I'd have on a larger time frame.

    Hope that this helps...I will work on the Hourly soon....

  2. #12
    OK..

    This is the 15 minute Fozzy I use, and how it could have looked on my chart.

    THIS IS FOR EDUCATIONAL PURPOSES ONLY...I did not exchange this...I did try, in the space available, to include what my ideas could have been....as you'll be able to see. . .NOT MANY!!!

    Hope it will help

    BTW, once again, since this is a 15 min chart. . .it would be a scalp for me, so I would not have avg'd into the commerce....though it would have been fine....but also I keep in the back of my head. . .IT'S FRIDAY

  3. #13
    This is a daily chart I used shortly after learning this egy.

    Even though you may notice 4 entry points, I count this as a single trade.

    1st notice the (X). . .RSI is OS...I favor 80/20....next comes a reversal day, than a doji. Next day a break out which gave an 8/8 cross. I put my 1st entry following the Sunday close as a Market order ( to be on board )

    6/19/07. . .price came back to my 3ema limit order as the 3/8 ema had crossed on the 18th. 2 lots open

    6/27. .3/8/21 ema's aligned and price hits my 8ema limit order...3 lots open

    6/28. . .price Tests the 21 ema, fills my 4th lot/order.

    This was a choppy time....notice a Yellow (X) at RSI. . .denotes warning, and that I move up my T/S (fundies more than - to eur at time ) plus 8/8 hadn't crossed from 80.

    Few Days later...8/8 goes OB together with the 2nd white (X) and T/S moved tighten....along comes about a week of consolidation...T/S was being transferred up 10 pips per day, as 8/8 fell back into Boll Band and a cross at moment yellow (x).

    Than a nice B/O day with 8/8's climbing past 80. . .close to 90...I than had to choose to close positions or plogist T/S. I Tightened T/S to just below the three ema and was taken out on 7/13/07.

    FYI. . .while one might note that this chart is from a NF MT4 chart, I traded this with Oanda.

    My hope is that I made myself clear on how this transaction was handled, and the chart remains apparent.

    Fxj

  4. #14
    Hey all....

    Here is just another eur/usd fozzy trade from ending of Aug07.

    Some may be noticing a trend here for me. I prefer to look for transactions when an 8/8 has touched or breached an 80 OB zone or a 20 OS zone, typically out of my Bol Band overlay, than crosses.

    With this trade, I stumbled one of my rules....can anyone spot it?

    HINT: It's an entrance....


    BB...I screwed up my 1 hour shots, so I've added these dailies. Hopefully the Hourlies posted earlier will probably be of help. For myself, the charts all look the same in every time period....it is only my lot size I alter for the time period.

    Feed Back always apreciated
    Fxj

  5. #15
    Fxj, the way that is really interesting u trade Fozzy, I enjoy it. . .Please keep this up.

    Can I ask you to post your templeate please?

    Many thanks to adavce and Thanks also to BB who started this thread

    Matty

  6. #16
    Fxj, extremely interesting how un commerce Fozzy, I like it. . .Please keep it up.

    Could I ask you to post your templeate please?

    Many thanks in adavce and Thanks also to BB who began this thread

    Matty
    Due Matty,

    Hope I'm clear with my ideas.

    Okay, A technician guy I'm not....BB just learned me the way to post charts only last week. Therefore, in the event that you allow me to know the way to post that template, then I'd be more than happy too.

    Maybe I look to find out whether it is saved!!! I don't trade off of MT4 or using a MT Broker. That's a North Finance MT4 chart....very close to Oanda from the B/A department, and the Demo seems never to end.

    I trade off of Oanda charts, yet for some reason haven't managed to save/post those. Together with Oanda, I just hit save lay outside,.... I only read a post for downloading any appliions for this thou...I'd like to post those from the future since it plots the Lmt orders, entries, exits, loion size, etc.. .Hard to pretend people on Oanda

    If you could inform me....what time frame/frames do you trade...I have different RSI amounts to get a few, nothing drastic....just a tweak in the OB/OS levels.

    Fxj

  7. #17
    Thanks Matty,

    Hope I'm clear with my thoughts.

    Okay, A technician guy I am not....BB merely learned me the way to post charts just last week. So in the event that you allow me to know the way to post that template, then I'd be happy too.

    Perhaps I look to see if it's saved!!! I really don't trade from MT4 or with a MT Broker. That is a North Finance MT4 chart....very close to Oanda from the B/A section, plus the Demo seems never to finish.

    I trade from Oanda charts, yet for some reason have not been able to save/post those. With Oanda, I simply hit save lay outside,.... I just read a post for downloading some software for this thou...I'd prefer to post those from the long run since it plots the Lmt orders, entrances, exits, loion size, etc.. .Hard to fake people on Oanda

    If you could tell me....what time frame/frames would you exchange...I have different RSI amounts for a few, nothing extreme....just a tweak at the OB/OS levels.

    Fxj
    Thanks for the answer Fxj...

    Let me see if I can explain you the way you can...
    To post the template u need to save it so u rigth click over the chart then go to save and template template then u select the folder and thats it. To place it here u go to handle attachements then the navigate buttom and select the template document that you have save and press upload. Thats it.
    I trade daily and 4h largely

    Let me see if I can also help u to post Oanda charts... U can use some software to take displays (I want to know if u need one) or u can just take a screen shot from your screen with the PrtSc buttom on your computer, then u can open the Paint program that comes with windows go to edit and then paste and it will paste your screen shot of oanda charts or whatever u want.

    Hope I made my self clear, english its not my native language

    Have a good weekend and thanks

    Matty

  8. #18
    Junior Member Laretacastexx's Avatar
    23
    I will post my egy to Fozzy, maybe it may also be of help for someone. It is a combination of thoughts I got from different folks.

    My setup
    5sma - shameful - its currently under testing, obtained it out of Auslanco ribbon; I mean to use it mainly on the 4H for a place to enter the trade since the price generally retraces to it until charging further.
    28 ema blue - proves to be a superb support/resistance for several pairs. By way of instance, from the GY chart below, it provided some fantastic entry opportunities in the management of the prevailing trend.
    89 ema orange - for the general management.
    Fozzy 8/8 with 20/40/60/80 levels for RSI - I got this out of a book about using RSI in trending markets; the overall notion is that if the pair is an uptrend, RSI has level 40 as service and 80 as resistance, while at a downtrend, RSI moves between 20 and 60. If the trend changes from down to up, first RSI remains above 40 and it will make a conclusive break above the 60 degree. From the current GY chart, RSI is continually staying above 40 level, whilst price fluctuates in the range of 229-235. This makes me believe the pair is actually more prone to go up than down out of here. I will wait patiently for a break of either 229/ RSI fracture of 40 or 235/ RSI fracture of 60 to find confirmation of this new prevailing trend.

    As another indior for confirming Fozzy Trades, I utilize regular MT4 Macd with configurations 5,13,1 and a 5 ema over it (blue). If not sure of this Fozzy cross, I wait patiently for the MACD/ema cross which might put me somewhat late at the transaction, but can save me of some fake Fozzies.

    Of course, besides all those, I use the fantastic old S/R and TL lines, also Fibonacci which are vital for chart analysis in my opinion.

    Until now, I exchanged with 2 lots on each pair, one with TP at the stop size (which is 70 percent of the ATR), and one trailing at the end of the day. If not sure of this setup, I will go with only 1 lot. I intend to continue this until I regain all of my losses previous to begin utilizing Fozzy. After that, I will move to 3 lots, TP 1 at 70 percent ATR, TP 2 at TP1*1.5, third lot trail at the end of day.

    Because I started using Fozzy, in July, I got only positive months and I am very happy about it. Of course, the markets have been trading like crazy and this might be a reason for my success.

    My next goals are to refine my trading abilities and MM which is still a problem for mepersonally.

  9. #19
    Hi Gagiul,

    I'm attaching a Daily chart if you care to look it over.

    EDUCATIONAL ONLY - I DID NOT TRADE THESE SET-UPS

    It took me about 15-20 minutes to loe these set up transactions after reading your article.

    I seldom trade this pair, yet I have.... My daily target would be 50 pips /- due to the pairs volatility.
    With this pair, I would never enter on the launching of the following bar ( afternoon )...I would need to enter a smaller timeframe to start looking for an entry and my exit. That is listed here.
    In case you don't understand, I am NOT a situation trader....day scalper would be a better term for me. That is why you will notice Shorts at the center of an uptrend...I do not wait for pull backs, I trade them. Only.
    Maintain your personal style that fits you best....Take the transactions you are familiar with.
    When I think LONG TERM...I think cherry pick
    When I day scalp...I think hit an git!

    Now none of them were cherry picked, and that I can see that a few would have been losers....probably 3 of those 12, if they had gotten filled....

    My main focus though is to provide you another option with a daily outlook.

    Hope it helps
    Fxj

  10. #20
    Gagiul and FxJarhead...

    Great articles with excellent TA info! As always, thanks for sharing with the rest of us....

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