OzFx System :) 100-800 Pips Per Trade

[mike45]

Partly Thanks. I understood that I should be looking for the signal when a new candle opens (in MetaTrader it happens midnight GMT). If there is, I enter trade, if there's no one I don't (doesn't matter if signal appears 5 mins later as price changes).


"Short Entry: RED AC below 0 and Stot below 0"

Originally Posted by Sweet Pip

To Mike 45, hope above answers your question.

[prettrad]

Originally Posted by Sweet Pip

Yes it was. This trade was opened short on Feb 25th and went very well.

Check out OzFx's blog (click on his screen name and select the homepage link)- he gives mostly all his entry signals there.

thx Sweet Pip for your response..

one question though, on feb 25th though AC changed color stoch didn't go from positive to negative right..then how did you know when to short the trade?
am i missing something? sorrry

[Sweet Pip]

Originally Posted by prettrad

thx Sweet Pip for your response..

one question though, on feb 25th though AC changed color stoch didn't go from positive to negative right..then how did you know when to short the trade?
am i missing something? sorrry

Since trying to write an AE for this, I gained a lot of insight as to how things work...in many ways .

Stochs never go negative, it's value range is still 0 to 100 even though it's overlayed with the AC indicator. The AC indicator is either positive or negative with 0 (the nought line) being in the middle.

So, when looking at the chart when the stochs and AC are crossing at the same time, the AC is in the middle (0), but it doesn't necessarily mean that the stochs are in their middle (50).

For example for a sell signal, and the AC crosses 0 (from positive to negative), and the stoch "looks like" it's crossing the AC line, the stochs "value" should actually be going down from 80ish and between, roughly, 75 and 55...still playing with that ...for it to be a valid sell signal.

Hope that helps but you may have to think about it for a bit yet

[alkhataat]

Sweet Pip

Thanks for the response.

Best of luck

Alkhataat

[fibgold]

Seems to be a really good trading system, going to try this for sure!

[mike45]

Hi
If see stoch is "below 0", candles are under 200 MA, AC is red BUT positive (not negative as would be required according to what system rules describe). I don't understand, I can't catch any of your trades - probably I misunderstanding your very first post that describes the entry signals? Could you please help with advice?

Thanks a lot,

mike

[Sweet Pip]

Originally Posted by mike45

Hi
If see stoch is "below 0", candles are under 200 MA, AC is red BUT positive (not negative as would be required according to what system rules describe). I don't understand, I can't catch any of your trades - probably I misunderstanding your very first post that describes the entry signals? Could you please help with advice?

Thanks a lot,

mike

The AC turns red whenever it's value is less than the bar before it, and green whenever it's value is more than the bar before it. So it will be either green or red and positive when it's ABOVE 0, and either green or red and negative when it's BELOW 0. It can even change color during the formation of the candle.

For short, you need to wait until the AC passes BELOW 0 (for it to be negative) AND stays red, AND under 200ma, AND Stochs are going down and crossing the AC's 0 line.

On a daily chart, it takes awhile for all this to happen, and it is very possible it will waver up and down at this point before it continues downward if it's in a strong down trend, or reverses if it's not. Then you'll have to wait until the next attempt, or check another pair.

Hope that helps.

[Sweet Pip]

I see that OxFx has signaled to go short on USDCAD which didn't seem to follow the rules exactly so I'm thinking he used his "Advanced Entry Signal" (AES) rules. The AES can get you in sooner and possibly make more pips, but I'm sticking to the original rules for now.

My EA hasn't triggered yet either according to the original signals,... but it should tomorrow (1 more candle?) if all goes as indicated... so it's not just you

[Strat. T. G.]

Very effective system. Im up 50+ pips already.

[forexnoob]

Well this is going to be short. Unfortunately I was not keeping a very detailed log on my trades because I was trying other things to see how well they worked.

I have a friend who does news trading and is pretty successful at it. Turned a 3k demo account into 54k in one month..no joke. So I thought that I would give it a shot. Unfortunately this week I was only able to take my 10k demo account and knock it down to 6800.

Thanks to Oz and his system I was able to recoup some losses. I am back to 9300 in my demo account. So for those keeping track I lost 3200 and made back 2500 in one week.

So like I said I cant give specifics on which currency I was trading other then usd/cad. I did go short on that earlier this week and rode that wave down for awhile. There were several others and as long as I get a signal I would have more then one trade going at once. Although I can honestly say that I am about 90% on the right side of the trade so far.

If you are interested in getting a little more profit. Check out OZS' squeeze more strategy. It is fairly new according to him and he is still testing , but alot of the money I made back this week was because of that.

Well anyways good luck to everyone. I'll keep updating my progress on here and next week I will be a little more detailed.