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Pink vertical line I got in short because it was under the T3-1 it was a small candle and the stoch was down and the trend looked like it was still going down...made 2 pips.....it went up 10 pips...so I thought I did ok to get out...then the shit went down 50+ points...No problem...profit is profit
The White Vertical line I bought because a pin bar had formed and the stoch looked like it was turning up. Hined sight 20/20 I should have waited until it was past the 80 line on the stoch. Down 18 pips. Now this trade was a stupid trade because the smac-d was still very red at the time.
Yellow Vertical line. I got in short because it looked like an alert candle with a tail either end of it had formed and it had just bounced off of the T3-1 line. 3 candles later I was up 10 pips and I know I should have bailed then...BUT DIDN'T....dumb ass.....so I road it all the way to the green vertical line and bailed at +20 pips.....fewwwww..... I didn't get out when I was -30+ pips because I new the over all day trend was down so I decided that I would ride the "oh crap what have I done" wave......
Thanks for reading my post and thanks for the help.
I'm not giving up until the politically correct large challenged lady sings her ass off
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.
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.
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.
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
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.
__________________
Change everything till it works!!! Test, test, test... Click here to see my trading... http://letsgetreal.mt4stats.com
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!
Linear Mode
