Good to hear your thoughts BB.... To add my own - the USD/CAD looks more promising that the EUR/USD to me - U/C is with the trend (I use the 28EMA to help decide that) and can see more downside potential. Will be trading it with s/l at 70% ATR(20). ...

FOZZY Method CROSSES

Thanks for sharing - great results. You say tp is 50. How do you manage your trades i.e. close out before tp is hit? Are you always at your monitor? How long do you wait on average before closing the trade? Cheers

Burger Straddle Script

Glad it helps.

Tool for calculating risk

Demo or live? — Hey guys, might be an idea when we're posting results to state if you're on demo or live. There's a huge difference in execution and frankly demo results are meaningless (I've been guilty of this too). If live, mention which ...

Burger Straddle Script

Here's something that might help — I made this simple tool in excel for calculating what my lot size (or what my stop size) should be. You can download it here: url - it takes into account different pip costs for different pairs. I usually ...

Need help with how to manage risk

Wow. Sounds like Autoclick software, no? Market is not always that logical though about reacting to sizes of deviations. Sometimes there's been none and I've watched the price shoot off. It will keep you out of a lot of nothing trades though. Thanks ...

Burger Straddle Script

new homes — 17 pips on cable just now. Picture perfect straddle trade that one, no movement before, no whipsaws after - if only they could all be like that..... Actually set the t/p to 20 pips, wasn't aware the spread is taken into ...

Burger Straddle Script

lol - hopefully I'm not THAT dumb. No, just trying to understand the nature of the formula the script uses for MaximumSpread as I quoted in my previous post. If I set the MaxSpread to 7 (because my broker's cable spread is 5 i.e. 2 pips leeway) the ...

Burger Straddle Script

BK, Just to confirm I've got my thinking right, say I want a stoploss of 12 pips and can tolerate the spread widening by 2 pips at newstime (but still keeping the s/l at 12 pips) should I enter the MaximumSpread as 14?

Burger Straddle Script

Go to first post on page 2, save it in the scripts folder (path is metatrader4/experts/scripts), reopen your mt4 program, go to scripts folder, double click on the Burger Script icon, in the "common" tab check "allow DLL imports" and "allow live ...

Burger Straddle Script

Risk calculator — I posted a simple excel spreadsheet for calculating risk here: url

The Money Management thread

"Traders helping traders (who help themselves)" might be a good motto for this great thread. I do sympathise though with someone trying to get to grips with this method when confronted by so many pages. I hope to post an e-book on the fozzy method ...

The Daily Fozzy Method

Thanks Willf for posting the ATR channels indicator. Really gives a visual to the validity of this method of stops. Great for backtesting too - saves me a lot of time. I've gone back to using the 70% ATR(20) after experimenting with previous ...

The Daily Fozzy Method

Interesting couple of posts and hear hear. I've been with fozzy from almost the start and, while I do trade other methods on other timeframes, I find the dailies the least stressful and most rewarding. I've gone to and fro a little in executing the ...

The Daily Fozzy Method

I would only even consider buying an EA if: 1. I could access verifiable proof that the EA is profitable on a LIVE account and has been running for at least six months. Give no credence to backtest or demo forward test results - they don't trade in ...

Do You Buy EAs or Indicators from ebay?

One quick result from backtesting at 90% modelling quality... A buy triggered at 50.5 RSI(45) and a sell at 49.5 RSI(45) gives much better results. 5% equity risk from Jan-Dec 06 gives 80% roi. Not spectacular but more than adequate. This is on ...

Part Time Wealth Building Trading System

Thanks to those who have offered to contribute to the development fee of the EA. Will start forward testing this week and will post a monthly report on its progress here. I imagine a bit of ironing out still needs to be done, especially the news ...

Part Time Wealth Building Trading System