OzFx System :) 100-800 Pips Per Trade

[avimanya]

I would like to know what is AO as opposed to AC and how do I apply and use it in my trade?

Thanks.

[alkhataat]

Hi OzFx

Firstly I must thank you for sharing this trading method with every one here, very kind of you and most appreciated.

Personally I understood the chart setup and the rules for going long/short and the MM, but one thing still not clear to me, is where exactly to enter.

Looking to the attached EURUSD chart, the signal was to go long on the 14th FEB (Blue Arrow) as the AC was above 0 and the AO was green.

At which price was the entry long? was it at the closing of the candle on the 14th? or at the opening of the next candle on the 15th?

Can you kindly explain this bit in details if possible and appreciate if you also can give us another example.

Thanks again for your kindness and best of luck

Alkhataat

[prettrad]

Alkhataat,

here's what I would do.

I would enter on the 14th Feb signal i.e. on 13th feb I can see AC is getting close to 0 and also stoch close to 0 indicating the next candle might produce a signal..and when the new candle is formed i.e on 14th feb , you'll see that AC is green above 0 & also stoch has gone above 0 - at this point, i would enter a long position and keep a close watch on my SLs i.e., in case it reverses back


On the otherhand, you could let the chart develop and see where the price is moving on the 14th feb in order to decide what 15th feb will be like so as to decide if you want to enter a long position on new candle on 15th feb however like in some cases, if you look on the 15th feb the stoch had already hit 80 which can mean it is oversold so i'd be shy to take a position - even though now looking at the chart, even entering a long position on the 15th feb even would have proved profitable....

hope this does makes some sense.. im also just learning...thats my 10 cents :-)

Pret

[prettrad]

hey all,

I was just going through my GBP/JPY chart and wondering whether anyone would enter a trade here.

Personally, looking at AO & AC which look pretty undecided and stoch above 0 I'm thinking i'll wont enter a trade here - i'd rather let the chart develop and look out for a clearer signal

anyone agree?

Pret

[phenix1]

Originally Posted by prettrad

hey all,

I was just going through my GBP/JPY chart and wondering whether anyone would enter a trade here.

Personally, looking at AO & AC which look pretty undecided and stoch above 0 I'm thinking i'll wont enter a trade here - i'd rather let the chart develop and look out for a clearer signal

anyone agree?

Pret

I would enter and just keep a little watch on it. All the critera looks met (ac above 0 and stochs above 0). you can plot a 200sma as a filter and see what the trend is if you not comfy wit the trade. If its under 200sma then you could be trading against the trend which could be dangerous. I think trading withe the trend is much more safe but I'm a risk taker. But you can prolly steal 50 pips from the trade if not more. Hope that makes since.

[alkhataat]

Originally Posted by prettrad

Alkhataat,

here's what I would do.

I would enter on the 14th Feb signal i.e. on 13th feb I can see AC is getting close to 0 and also stoch close to 0 indicating the next candle might produce a signal..and when the new candle is formed i.e on 14th feb , you'll see that AC is green above 0 & also stoch has gone above 0 - at this point, i would enter a long position and keep a close watch on my SLs i.e., in case it reverses back


On the otherhand, you could let the chart develop and see where the price is moving on the 14th feb in order to decide what 15th feb will be like so as to decide if you want to enter a long position on new candle on 15th feb however like in some cases, if you look on the 15th feb the stoch had already hit 80 which can mean it is oversold so i'd be shy to take a position - even though now looking at the chart, even entering a long position on the 15th feb even would have proved profitable....

hope this does makes some sense.. im also just learning...thats my 10 cents :-)

Pret

Hi prettrad,

Thanks for your reply, though you are jumping ahead of the original signal but that has good sense.

I also noticed that some brokers do have 5 bars a week on the daily chart and others have 6 bars a week on their charts, both are on MT4 platform, does this different type of charts effect profitability or lets say generates wrong signals?

Has any one experienced this matter?

As you see on the first AUDUSD daily 5 bars/week chart, the AC has gone above 0 on the 28th JAN, but on the 2nd chart the 28th was the second day that the AC has crossed 0.

Any comments on this ?

Thanks again for your assistance prettrad.

Best of luck

[CyberG]

Hello All,

I thought I should tell you what I am finding here, perhaps it will be some encouragement to others. Let me start by saying that I am still pretty new, though I have read a lot of stuff on this site. Of the things I read, was the OzFx which I am now testing and pretty excited! I used to have an EA on my MT4 but with the result I have seen here, I have deleted it! Today, I have made almost $450.00 just looking at the OzFx charts and trying to trade it. I trade 0.10 lots but also based on the profits I was getting, I tried 0.20 lots and still more profitable.

I should tell you I normally get out of all my trades at 50pips I am not expert enough yet..lol! Then, I don't trade all the 5 lots as recommended as it may become too much to follow everything, plus, I am not sure how much money I will need in real life trading, so I guess it is better to keep it as close as possible to 'my' reality.

I was concentrating on GBPUSD with the EA, but with this, I opened almost all the currencies and insppect it from time to time to see if there is an opportunity. I also read what OzFx suggests and I will keep trying to make myself better at doing the trades better!

If this continues for another month, at the most, I will start using real money. In all, thanks to OzFx for having such an idea and sharing it with all!!

[avimanya]

Hi,

I have read several posts on the forum about entering the trade at 7 PM EST (new candle opens). I am using ODL MT4 for charts.

Now I am in WA (Western Australia) and 7PM US EST is 9 AM (next day) here. I work full time and plan to do Forex after office hours i.e. after 6 PM WA time (i.e. 4 AM US EST).

So does that mean I can't take trade call after MY office hours (that would be silly, wouldn't it?) and obviously what would be my strategy(signals) to enter the trade - what time? OR what indication on the chart (regardless of the time)?

Thanks.

[OzFx]

Hello Friends,

It is good to be back home. I had a nice short vacation and I am so glad to see that people have kept the forums busy and alive in the meantime. I’d loads of email/PMs to reply back and I hope everyone received the reply. I also tried my best to read every single post on the forums and reply where ever I could. If I’ve missed out on anyone then please send me an email and I’ll reply back to you.

When I left we had 5 trades open, out of which EUR/USD performed just great. I closed it at +445 pips at 1.5000. If you are still in the trade then you should be looking at +530 pips right now.

EUR/GBP second lot closed at +100, currently at +130.

CAD/JPY closed at BE after making +100.

CHF/JPY got closed out at -150.

And finally USD/JPY closed out at BE after making +50

GBP/CHF trade from today had already made +50 and I’ve moved the Stop Loss to Break Even

Total for the month now is +1265 and so far we have 33/39 successful trades.

Oz
P.S. Please read here in regards to Managed Accounts

[cbarnett808]

Hello Ozfx. Many thanks for this system. Needless to say, it resonates with many people, myself included.
I do have a question: On 2/25, one of your picks was short EurJpy. I have metatrader w/ both Alpari and ODL, and both show stochs and AC well above 0, although AC is red. It looks like the short entry is contrary to the rules of the system, and this trade ultimately sailed the other direction. I realize you use an alternative entry strategy based on 4-hour charts but without bringing those rules into this thread, it appears there is no setup for entry this way either. In fact, it looks like this should have been a long (stochs had crossed up and both AC and AO were green on the 4-hr). Perhaps this was a typo?
Any guidance is appreciated, and again, many thanks for your contributions and generosity to date. I'm really trying to understand the 4-hr system and how it relates to the 1-day system.