OzFx System :) 100-800 Pips Per Trade

[OzFx]

Originally Posted by prettrad

Hi OzFX, Just refering back to what you said...7pm est is when we enter new trades...we also enter at open of the candle......but since we're running this strategy on daily charts , that means we are entering a trade at 7 est -> 00:00 GMT which is when a new candle is formed right?

I will do some testing but if anyone does get the chance, pls reply

thx

Yes, I enter at open.

[OzFx]

Originally Posted by prettrad

Assuming this is right...are there anyone in europe who's testing / trading this strategy? do you stay up to mid night to place trades?
i'm real excited abt this strategy ...just checking if there is anyone in my time zone

Also would £1500 be a good enough deposit to start with this strategy?

£1500 is ok if you decide to trade with micro lots.

[OzFx]

Originally Posted by ptournis

Oz,

How does the system work in ranging markets? One thing I found with my system is in ranging markets it gets killed. This is typical of trending following systems. I have done a little MAE analysis on mine which helped tweak it for better results. Take a look at my blog.

Pete

Would love to know more about your analysis, can you post something here

[OzFx]

Originally Posted by forexnoob

I just want to say this is my first post ever on here or any other forex related forum ever. I never posted because I feel I didn't have much to contribute and i'm still learning and i'm sure always will be learning. I have being trading forex on demo accounts for about 6 months now and I have made money. Although I feel it has been dumb luck mostly.

I have gone through the baby pips school. I have also tried many , many different methods of trading forex. Alot of those methods I found on here. I agree with OZFX when he said that a system may work for someone else ,but not you and you have to find one that is easy for you to understand and use.

That is what I have found finally. I have to say thanks to OZFX because finally I feel like I have found a system that I get and feel I can make some good money at.

Here is my example: Last night at 7pm est USA. I went through all the currencies I had available to chart on my charting software(Metatrader). I found 5 that meet the requirements that OZFX laid out when he talked about his system. After that I set my SL and closed my laptop. I got up at 0600 to get ready for work. Skeptically I checked my forex demo account. BOOM 160 pips. 4 out of the 5 were winning trades on one had I lost on. The 4 winners = 160 pips the 1 loser = -17 pips.

I going to keep testing and updating on here ,but this is the first system that I have gotten this excited about. THANKS OZFX!!

Hi forexnoob,
Glad to hear from you. Keep us posted of your trades.

Cheers,
OzFx

[OzFx]

Originally Posted by walkonwallstreet

ozfx, how are you? Thanks for sharing this system with us.
I saw your track record this month, so far you made an reasonable, more or less, an +100pips gain... my question is, even though the gain is positive, are you really profitable this month? what i mean is that for few trades you place 2 days ago all got stopped out so basically you had a -100 pips move for total 10 lots. Most of the winning trade you had this month so far are +50pips and then retraced to break even point, Since for every -100pips stop out on 5 lots, you need more than 10 winning +50 pips to make a profit.

Your entry signal is perfect. I’m just trying to get used to the money management.

You are right about trades getting to +50 then stopping out. If you look at the first 10-12 days of Feb you would see that most of the pairs have been going sideways due to Chinese New Year holiday. It is difficult time to trade
and we still manage to keep our head above the water.

So far in this month we are up by 720 pips.

oz

[Gnat]

Hallo Oz!

Nice to see you here! Staying up till late here in Old Europe to see what you signal for the day!

Have a good day - I will have to hopp into bed in a second or two!

Ciao
Matt

[OzFx]

Originally Posted by LoriRS

I am new to Forex trading so please bear with me while I ask a few questions. First, how often do you monitor your trade? I do need a few hours sleep at night so I am wondering how a person in CST does this. Also,why is it important to begin trade at the new candle? (7pmEST)

I noticed on one of your sample charts you showed the price movement over several days. Is this typical for this type of system?

Thanks so much for your help!

I set alerts/alarm on MT4 to alert me when the price reach a certain point. I put TP right from the beginning and l have mental SL in place. Once I hear the first alarm then I move the SL to BE and let it all run.

Cheers,
OzFx

[OzFx]

Originally Posted by phenix1

I have a question on your Eur/usd trade. According to you system I received a long signal on thursday (2/14) and I entered the market at 1.4637. (AC turned green and above 0, Stoch above 0) I'm still up 30 some pips which is good so far. Now I do see a short signal that happened around (2/6) where one could have entered short at 1.4618 and it moved to around 1.4439. The market is back up as of friday to 1.4669/72 so it has retraced. If you are talking about the short trade you shouldn't have anymore lots open am I correct. Could you please correct me if I'm wrong.

Most of the time I exit as per the MM rules. The short signal you mentioned didn't triggered me to close the trades since MM says to hold on to it until price reach BE.

I would have exited if I would have seen AC crossing 0 line...so far we only had AC turning red which is not a short in itself.

[OzFx]

Originally Posted by Gnat

Hallo Oz!

Nice to see you here! Staying up till late here in Old Europe to see what you signal for the day!

Have a good day - I will have to hopp into bed in a second or two!

Ciao
Matt

Nice to see you here as well Matt...

[avimanya]

Hi,

I am interested (actually interested is understatement); I am quite eager to start FX trading. I have never done it before. I would like to know
a) Which broker to use? What to look for in a broker?
b) Demo platform - ODL (as suggested earlier)?
c) Where to learn the basics besides Babypips.com - reword Would going through Babypips schooling be enough to start off in FX trading.
d) Pointers on how to get started and use your system?
e) How much money to start with?

I am based in Australia (don't know if that matters). I have MBA from USA but all that qualification has done for me is to secure a mundane job that would pay for my bills - thats all really.

I have plenty of time outside work hours (before 9 AM and after 5 PM) and would really put that time to good use. I am quite disillusioned with my job (pretty mundane with little or no future financial potential) so I am looking to do something that would give me more satisfaction.

Would really appreaciate a response from you.

Thanks.