Wednesday, October 31, 2007
Thursday, October 25, 2007
FTC-Gear-zig-zag metod
Download FTC-Gear-zig-zag metod
How To Enter 4 Hour Chart
When you see an arrow & the Zig-Zag Line, go in that direction. Place your stop according to your risk appetite. I use at 60 on a 4 HR & 20 on a 1 HR depending on which pair you use (I use the EUR/JPY or GBP/JPY 1hr or 4 hr) & your risk appetite, you can set your goals. Your trade will go until you hit your goal or the next bounce with an Arrow.
If you dont see a new arrow yet, this trade MIGHT not be done. You have 2 options.
1)You can get out & wait for the next arrow.
2)You can adjust your stop to capture some pips & ride it out.
The reason I say that is because I have noticed that more than a few times the trend will bounce & retrace for a while, then continue. I have used the bounce as stop & a chance to add to my positions.
A few points are if the overall trend is long & you see a short signal, chances are its a small retrace so it is more risky. However its a good chance for a quick profit.
How To Enter 1 Hour Chart
If you choose to use a 1 hr chart I recommend that you get out at each bounce or your specified targets.
This is a serious trading system. I have been scoffed at about this but I have been using it.
If you have the time I think you should demo it.
Before I forget, yes the arrows move. If a new high/low is established, the arrow will move to the next PROBABLE reverse point. So backtesting is useless. Only forward testing applies & thats why I know it works.
Wednesday, October 24, 2007
Thursday, October 18, 2007
Fozzy Method
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The Daily Fozzy Method
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This is my first post on FF after months of reading and trying some of the numerous systems provided by members of this forum. Months ago I came across the following indicators that were posted on one of the Vegas threads. I cannot remember who posted it but I am extremely grateful for their insight and hope they do not mind if I show my way of using this indicator.
After months of testing and swapping from system to system I've come back to this indicator and in hindsight I should have stuck with it from the start as it seems to work for my style of trading.
Anyway, on with the detail. I only trade daily charts and only EUR/USD, GBP/USD, USD/JPY and USD/CHF. Why these? Primarily because these are the only ones I have backtested and have been trading for the last 3 months. I also tend not to trade Monday mornings (Australian time) as prices sometimes gap over the weekend. However, this is discretionary.
On each chart I have an 8 period RSI. I also have an 8 period MA of the RSI and Bollinger Bands with a 20 period setting, also on the RSI.
Long Entries: RSI must be below the middle Bollinger Band. Enter long on the open of the next bar after the MA has crossed above the RSI.
Short entries: RSI must be above the middle Bollinger Band. Enter when MA crosses below RSI.
Stop loss is the low/high of the previous bar. I move S/L to break even if the price moves greater than 40 pips in my direction. After the initial 40 pip move I use a trailing stop for exits (25 pips).
I only look at the charts once per day, just before 0.00 GMT. This way I know which pairs are approaching my set-up. I then place trades if my criteria has been met. That's it. A simple system that seems to work for me. Looking at charts all day does not suit me as I have a real job and I'm not in a convenient timezone. 10 minutes a day is all I need. This method provides a limited number of trades but the trades can last anywhere from 1 day to numerous days. There can also be days on end with no trades. I have found that the secret is have patience. I also have come to believe those who say longer timeframes are easier, especially for newbies.
I'm not going to say this system will always work but for me it has generated over 400 pips in September already. Please try this out on demos before putting your hard-earned into it. Just because it is working for me (at the moment) does not mean it will suit everyone.
The Daily Fozzy Method
--------------------------------------------------------------------------------
This is my first post on FF after months of reading and trying some of the numerous systems provided by members of this forum. Months ago I came across the following indicators that were posted on one of the Vegas threads. I cannot remember who posted it but I am extremely grateful for their insight and hope they do not mind if I show my way of using this indicator.
After months of testing and swapping from system to system I've come back to this indicator and in hindsight I should have stuck with it from the start as it seems to work for my style of trading.
Anyway, on with the detail. I only trade daily charts and only EUR/USD, GBP/USD, USD/JPY and USD/CHF. Why these? Primarily because these are the only ones I have backtested and have been trading for the last 3 months. I also tend not to trade Monday mornings (Australian time) as prices sometimes gap over the weekend. However, this is discretionary.
On each chart I have an 8 period RSI. I also have an 8 period MA of the RSI and Bollinger Bands with a 20 period setting, also on the RSI.
Long Entries: RSI must be below the middle Bollinger Band. Enter long on the open of the next bar after the MA has crossed above the RSI.
Short entries: RSI must be above the middle Bollinger Band. Enter when MA crosses below RSI.
Stop loss is the low/high of the previous bar. I move S/L to break even if the price moves greater than 40 pips in my direction. After the initial 40 pip move I use a trailing stop for exits (25 pips).
I only look at the charts once per day, just before 0.00 GMT. This way I know which pairs are approaching my set-up. I then place trades if my criteria has been met. That's it. A simple system that seems to work for me. Looking at charts all day does not suit me as I have a real job and I'm not in a convenient timezone. 10 minutes a day is all I need. This method provides a limited number of trades but the trades can last anywhere from 1 day to numerous days. There can also be days on end with no trades. I have found that the secret is have patience. I also have come to believe those who say longer timeframes are easier, especially for newbies.
I'm not going to say this system will always work but for me it has generated over 400 pips in September already. Please try this out on demos before putting your hard-earned into it. Just because it is working for me (at the moment) does not mean it will suit everyone.
NEW Multi-TimeFrame
Download NEW Multi-TimeFrame
Here are a few things to keep in mind when using these:
1) TimeFrame is the input you use to specify what timeframe to pull the data from.
2) You must set TimeFrame in minutes (1,5,15,30,60,240,1440,10080,43200)
3) By default, TimeFrame is set to 0, which means that it will use whatever the current timeframe is, i.e it will act as the original indicator.
4) If you set TimeFrame to anything other than 0, it must be >= current timeframe. (In other words, don't use a M15 PSar on an H1 chart. The values won't be correct. An H1 PSar on an M15 chart works properly.)
I've setup 5 Multi-TimeFrame (MTF) indicators to use as examples. You can open them up and use the code as a template so that you can make any existing indicator MTF. Please don't post asking for other indicators to be made, as the thread will soon turn into one big 'please do this for every MT4 indicator'. It's really, really simple to do, and if you don't know how to code, spend a week reading Coder Guru's MT4 programming guide and you'll be able to do it.
If I have time, I'll add more. Hopefully others will add their MTF conversions to the thread.
Multi-TimeFrame set 1 contains:
#MTF_MovingAverage.mq4
#MTF_PSar.mq4
#MTF_RSI.mq4
#MTF_MACD.mq4
#MTF_CCI.mq4
The attached chart is the following:
M5 Chart with LimeGreen PSar
M15 PSar
M60 SMA(13)
H4 CCI
M30 MACD
H1 RSI
Well, I hope these come in handy for some of you. Thanks Igor, for your fantastic coding skills. I've learned a lot just by studying your code.
Here are a few things to keep in mind when using these:1) TimeFrame is the input you use to specify what timeframe to pull the data from.
2) You must set TimeFrame in minutes (1,5,15,30,60,240,1440,10080,43200)
3) By default, TimeFrame is set to 0, which means that it will use whatever the current timeframe is, i.e it will act as the original indicator.
4) If you set TimeFrame to anything other than 0, it must be >= current timeframe. (In other words, don't use a M15 PSar on an H1 chart. The values won't be correct. An H1 PSar on an M15 chart works properly.)
I've setup 5 Multi-TimeFrame (MTF) indicators to use as examples. You can open them up and use the code as a template so that you can make any existing indicator MTF. Please don't post asking for other indicators to be made, as the thread will soon turn into one big 'please do this for every MT4 indicator'. It's really, really simple to do, and if you don't know how to code, spend a week reading Coder Guru's MT4 programming guide and you'll be able to do it.
If I have time, I'll add more. Hopefully others will add their MTF conversions to the thread.
Multi-TimeFrame set 1 contains:
#MTF_MovingAverage.mq4
#MTF_PSar.mq4
#MTF_RSI.mq4
#MTF_MACD.mq4
#MTF_CCI.mq4
The attached chart is the following:
M5 Chart with LimeGreen PSar
M15 PSar
M60 SMA(13)
H4 CCI
M30 MACD
H1 RSI
Well, I hope these come in handy for some of you. Thanks Igor, for your fantastic coding skills. I've learned a lot just by studying your code.
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