RandyCandles - Information - page 39
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Maybe you should re-visit the Fozzy daily method.
Maybe you should re-visit the Fozzy daily method.
Nice pin bar!
Fozzy
Hi SummitFx,
My 1st month at Fozzy I made over 800 pips. My 2nd and 3rd months I gave it all back. So not so sure Fozzy is for me...
Can you believe that eur/jpy in the last 6 days has had from high to low a drop of over 700 pips....that is amazing....I hope folks here made a few pips out that that.....
Can this system be used for daily trading.... On my daily charts some of the indicators gets messed up.
EDIT:......I just looked at a one minute chart. From a scalping point of view and with eur/jpy making all these huge moves and being a volitile pair, do you think it is better to trade off of the one minute chart....I see more of the indicators lining up more often than on the 5 minute charts....
Still learning so its more of an observation and a question to the experienced traders here.
Thanks,
Vegas
Maybe you should re-visit the Fozzy daily method.
I've been trading the Fozzy method for almost a year now and was one of the first followers and I continue to trade it today. It, like this, takes time, study and a healthy dose of market sensibility. I'm sticking to a 5 and 15m chart with the RC's. Why screw around with anything else? I made a pile of pips today.
The Daily Fozzy Method - Page 165
I've been trading the Fozzy method for almost a year now and was one of the first followers and I continue to trade it today. It, like this, takes time, study and a healthy dose of market sensibility. I'm sticking to a 5 and 15m chart with the RC's. Why screw around with anything else? I made a pile of pips today. The Daily Fozzy Method - Page 165
hey summitfx - i am studying this and will post some when I can absorb. it's close to my manual method which uses MTF stoch and fib - anyway - keep up the good posts - hope I can contribute later
P.S. still laughing about that Kool - Aide joke - hilarious
It works~ Ask Beach Bum. Set up a chart a study it.
OK, I am going to post a synopsis of my trade rules.
1. Trade off 5 min charts.
Entries
1. 1st signal is when 15 min (green) stochastic peaks and crosses.
2. Price must be above or below yellow MA matching trade direction.
3. Wait for either the first Osc bar to change color to match trade direction or SMAC-D signal line cross.
4. Trade should only be in direction of Osc. Short if Osc below zero, long if above.
5. To trade against Osc direction, drop to 1 min chart and start at step 1 again.
Alternate Entries
1. During trend as long as price and yellow MA remains below blue MA, enter when Blue stoch makes a counter peak.
(refer to picture)
2. Any time price fails to penetrate and REMAIN above/below blue line and Osc fails to penetrate and remain above/below zero line.
Exit
1. When price crosses yellow MA
AND
2. Green stoch peaks and crosses
AND
3. Osc peaks and bars change color or SMAC-D signal line crosses.
Divergence is a good indicator of possible trend reversal for exit.
OK, I am going to post a synopsis of my trade rules.
1. Trade off 5 min charts.
Entries
1. 1st signal is when 15 min (green) stochastic peaks and crosses.
2. Price must be above or below yellow MA matching trade direction.
3. Wait for either the first Osc bar to change color to match trade direction or SMAC-D signal line cross.
4. Trade should only be in direction of Osc. Short if Osc below zero, long if above.
5. To trade against Osc direction, drop to 1 min chart and start at step 1 again.
Alternate Entries
1. During trend as long as price and yellow MA remains below blue MA, enter when Blue stoch makes a counter peak.
(refer to picture)
2. Any time price fails to penetrate and REMAIN above/below blue line and Osc fails to penetrate and remain above/below zero line.
Exit
1. When price crosses yellow MA
AND
2. Green stoch peaks and crosses
AND
3. Osc peaks and bars change color or SMAC-D signal line crosses.
Divergence is a good indicator of possible trend reversal for exit.Rad,
Solid rules my friend! Thanks for the much needed input!
Chris
Brilliant!
Thanks Chris, by the way here is a new zip with my current indicators and setup with template for those interested.