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

  1. #1

    Fozzy-style trading techniques

    This project was in my mind for some time; it is time to begin AND organized.

    Here's the mission:

    If, and only if, you're now a Fozzy-style trader; I ask you briefly share with us the important aspects of your trading which makes it'work for you'. That's to say; besides the 8 crossing 8 sign, what do you use to make trade decisions?

    My goal: to complile the information provided into a summary for anybody who wants to Fozzy-style exchange successfully. The original thread is chilling; and that I think there are techniques which can be added to the excellent e-book prepared by thebhoy. Posted charts will also be welcome.

    Please discuss what you will, and I'll work on the compilation.

    No questions concerning the method; post those in the thread please! This thread is for posting proven techniques just!

    Thanks!

  2. #2
    FxJ....thanks for the info charts. I've set up a template that is a duplie of your charts (I presume ) and connected it for those who'd like to check this egy....
    https://www.cliqforex.com/attachment...1231016030.tpl

  3. #3
    Hey BB-

    Here would be my variations that I added. . .albiet little. Haven't read the ebook, nor even looked in the Fozzy thread as way back....so if I'm off with this, just delete my ideas. . .Hell, for all I know....this IS the fozzy and I just thought I left a few minor alterations!! LOL

    OK
    I overlaid a normal Boll Band on price, along with some 3/8/21 ema's

    as soon as the Fozzy crosses, it appears to come in a time when the Boll Band has gone flat ( at a fashion ) I shoot 1 lot now....as the 3ema crosses the 8ema that I avg up and insert another lot on a pull back to the 8ema, compared to 3/8 cross's over the 21ema, I add 1 more lot in a pull back to the 8, and than....if blessed, add another lot if price pulls back to test the 21 ema.

    If All goes as planned above...I've 400k functioning ( avg'd up )and that I hold til a fozzy cross or my trailing stop is triggered.

    This should go without saying....lots are added BECAUSE the fozzy is trending and the ema's are also. The Boll Band over price just seems to give me perspective...I'm visual.

    P.S.- While I know that is a DAILY type method....it really does work nicely intra afternoon on the hourly and the 15 for scalping.

    Hope that helped....it is pretty simple/uncomplied for myself

  4. #4
    Great, thanks for the observations; interested in adding a posted chart or even two?

    Hey BB-

    Here are my variants that I included. . .albiet small. Haven't read the ebook, nor even looked in the Fozzy thread since far back....so when I'm off on this, just delete my thoughts. . .Hell, for all I know....this IS that the fozzy and I just thought I made a few minor alterations!! LOL

  5. #5
    Junior Member Buxxetproof's Avatar
    21
    I think we ought to add a little discretion and chart analysis to our Fozzy trading. By chart analysis I suggest review of support/resistance/trend lines. Take a look on the Fozzy crosses of usdcad for the previous two months. The pair is in a consolidation period. Should we take Fozzy crosses ?

    Of course it is hard (impossible?) To define objective rules for a Forex, that depends on the individual trader.

    Only my two pips

  6. #6
    Junior Member Buxxetproof's Avatar
    21
    Agree....would you place a chart for us showing how support/resistance/trend lines would appear on one of your charts to the USD/CAD? A picture is still worth 10,000 words....
    OK, here are 3 charts that show my humble opinion:

    1) 2007.06.28
    We have a long bearish candle breaking up the up trendline, and we've got a Fozzy cross. Next day that is Friday, the pair moves about 120 pips down and then moves upward to re-test the trendline. Bearish movement resumes next week.
    In this circumstance, the break of trendline gives a confirmation for a Fozzy trade.


    Two ) 2007.07.25
    We have a Fozzy cross, but we also have a downward trendline (resistance) from our commerce. If we choose the trade? That depends on trader choice. Of course the transaction was a winner, trendline divided by a bullish candle.
    A conservative trader could put a buy stop above trendline around 1.0495 (large of 2007.07.20,.... Oooohhh that's close to a round number).


    3) During August pair remains within consolidation range. There were great crosses as well as bad ones. I've shown two ineffective crosses in the next chart. With this pair I will not take any cross till price comes out of this consolidation range. Of course this is my opinion and I'm just a newbie

    Hope that assists




    P.S. BeachBum, allow me to take this opportunity to thank you for your greats attempts in Fozzy sub-forum.



  7. #7
    I took SHR's first screenshot and added a couple of comments; this scenario happens regularly. Start looking for these and take only the best ones...A trades.

  8. #8
    Great, thanks to the observations; thinking about adding a submitted chart or 2?
    BB,

    I'd love to post some few charts. Though I have to admit my ignorance in my ability to really place the charts. If you were able to Explain the procedure in Layman terms, recall I am a trader. . .not a scholar!!

    It won't be a cherry picked chart either....it was the usd/jpy 1 hour transfer from the mid 116 area to the high 113 area, and compared to rebound back to the high 115 region posed about 24 hours ago /- an hour or 2. This past week.

    It would be from a metaTrader chart if that helps....any help would be appreciated

    Thx

    EDIT: What I'd have to add to the chart would be where I left my entries and exits

  9. #9
    Thx for your help BB...

    Going to post this shot as a test, see how it ends up live. . .Than I'll edit my ideas.

    EDIT: Here is the chart I spoke of in Post #9. While I understand that the fozzy is a DAILY method, I also have found it great in the smaller time frames too. This is the identical chart style that I use for DAILY as well as even the 15min. This just happens to be my one hour chart I was working off of. My apologies if words YELLOW really are somewhat tough to see, they were never on my chart, nor the arrows, red /green -dashboard - lines . I included these for instructional purposes. The blue vertical -dashes- are on the original chart....so concerning denote to myself, when I watched the cross and marked it. Red arrows are Shorts, green arrows are Longs. From red dashes to red dashes was that the time/price zone I was brief. The green dashes to dashes were.

    I'd forget to mention in my initial article. . .that if a pair appears to reverse...S to L / or L to S.. . .from a powerful trend....my limit order is set for retracement or even 3ema. NOW, if I don't GET that retracement...I earn a GUT call and hop on board the train before it actually takes off and I'm left standing at the station. That's Purely MY judgement call....for mepersonally, having many hours of face time, I will and often do, flex my principles....
    As you may see, This move just happened recently. . .it was NOT cherry chosen, and was traded by myself.
    Also from the move up, only 3 lots were exchanged due to the fact that a retrace into the 21ema never occured.

    Hope that this helps....Hope that the photo is apparent ( my very first attachment )
    I know how to place these....WATCH OUT!!!
    Thx again for the help BB....Feed back always valued, and I truly do not want to provide the new traders employing this any wrong thoughts....you'll do great with sticking to the original egy....my gut transactions are my own based on alot of transactions and experience (rather than a FOOLPROOF way to trade. . .gut that's!!!)

  10. #10
    Hi All,

    Here is a 15 min scalp.

    Please notice. . .my RSI is set for 80/20 versus the 70/30....

    ALSO notice....when I went apartment...I missed a fantastic scalp for a lengthy!!!

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