I don't think you're missing anything. I just sat down this afternoon and did a backtest on the last year's worth of EURUSD data. First I want to throw in one huge disclaimer: I am using trailing stops. This makes my (manual) backtesting extremely ...

The Daily Fozzy Method

Hi Art, I fear that I am about to become the Patron Saint of the Trailing Stop. Nevertheless, I would recommend this as a possible remedy for your 1:1 problem. If you use a trailing stop as your initial stop, this means that you almost never take a ...

The Daily Fozzy Method

If you're looking for reasons, they can generally be listed as price action, candlestick patterns, support/resistance, long-term/short-term trends, fibonacci levels, etc. But if you're looking for specifics, then that goes against the whole idea of ...

The Daily Fozzy Method

Just to be clear, I am NOT trying to claim that those SL/TP rules are actually rules at all. I took BeachBum's empirical numbers and translated them into ATR values. But there is still plenty of room for debate whether the initial SL should be 0.7 x ...

The Daily Fozzy Method

Maybe I shouldn't say anything, because I haven't used FXCM, so what do I know? However, if you Google them, I believe it will be very easy to find a LARGE number of forums in which they are routinely trashed by angry (former) customers. When I was ...

require info on FXCM from experienced trader plz =)

I've not delved into programming my own MQL, but I am a professional programmer and I can tell you that in my corporate life I rarely see while loops. Is this because there is anything wrong with a while loop? Not at all. It is largely a stylistic ...

Loops: while vs. for

Forex is not a speculative market — I'm replying to this post because this is one of the key factors of the forex market of which I'm afraid most retail traders are completely unaware. Forex is not a speculative market. Of course, there is ...

Getting a professional Forex trading job

Wow, that's weird behavior. I use MB Trading and when I set a trailing stop it immediately creates a SL X-pips behind the current price. Also, MB's trailing stops are server side - that means that my computer can completely blow up and my trailing ...

The Daily Fozzy Method

Entries and exits are EXTREMELY important — I have been through a spin cycle of emotions with my trading over the last couple of months. I was initially extremely excited about the fozzy method but then I cooled on it when I wasn't able to ...

The Daily Fozzy Method

I hope that any newbies (and even some of the established members) will understand just how insightful your last post was. This has sparked a lot of thought from me and has coincided with some of my recent findings. I'm going to share them here, but ...

The Daily Fozzy Method

Position sizing calculator — I am attaching a very simple spreadsheet that I use to determine position sizing. This allows me to set any SL that I deem to be appropriate without worrying about overextending myself with a major loss. To use it, ...

FOZZY Method CROSSES

I tried to use the 4-hour chart earlier this week to jump some signals and it totally backfired on me. So the problem now is that I'm gunshy. I know that in the long run you can do much better for yourself by grabbing trends early on the 4-hour ...

FOZZY Method CROSSES

Amen

FOZZY Method CROSSES

Dang! What a night! — Were you guys on last night's crosses? I've been trading poorly lately, but last night has recharged my batteries. Buy AUDNZD Sell CHFJPY (closed out 1/2 position for +51 - the rest is still riding) Buy EURGBP (closed out ...

FOZZY Method CROSSES

I read this a few days ago in the Metatrader forum on this site. Also, Shift+F12 goes backward one bar.

Dollie's Safe Pips Indicator

Backtesting — I just wanted to post a note here because it has been mentioned that you can't backtest this method because the relative height of the lines changes over time. Well, that's not really true. You CAN backtest this. This is what you ...

Dollie's Safe Pips Indicator

Sorry - that dotted line did indeed throw me off.

FOZZY Method CROSSES

You guys are referring to 2 different crosses. You are referring to the upward (long) cross. Billser is talking about the downward (short) cross, which is shown on your chart as well.

FOZZY Method CROSSES

Thanks for the info. I'm comfortable in my knowledge of what Level II quotes are. I guess I'm asking whether there is anyone here who actually manages to incorporate them into their trading strategy, e.g. "When X happens on my charts I look at the ...

Level II quotes