OzFx System :) 100-800 Pips Per Trade

Hello Friends,

I would like to share with you a system that has consistently been successful for me, that I would like to call OzFx System.

What can You expect?
This system has a potential of banking 100-800+ pips per trade trading with Daily Chart.

Why Daily Chart?
As you could guess by now that this is not a 5 min scalping system. I believe in trading longer time frame simply because first of all rules of
technical analysis hold true more often and second I don�t want to sit in front of pc all day long.

Think like this, most of us one day would like to be full time traders; however it doesn�t mean that we spend all that time in front of PC.
I would rather go flying and playing golf. So I developed this system thinking of long term and hence it is based on Daily Chart.

See It For Yourself:
Let�s see if you can spot the correlation between the indicator and the price action.

I bet you were able to spot that short entry (300+ pips). Tell me that you noticed that every time AC changes color and crosses the 0 line
it gives us an entry signal. Am I right or right?? :slight_smile:

Did you see another short trade towards the left side of the chart?? That trade was worth 835 pips in 5 days.

No Clue So far:
I believe 90% of the people will be able to spot the correlation mentioned above. If you are one of the unlucky 10%, then I would recommend
to try some other system and not to waste your time on this post.

The reason I say above is that we should trade using strategy that is intuitive and easy to follow. Technical analysis is not perfect science;
I believe it is an ART, an ART to pick signals as they happen. I am terrible at spotting Flags, Triangles and Head & Shoulders. Hence I keep away
from them and don�t want to spend years to master them.

A Bit Of History:
I started with Forex few years ago simply because I like the volatility and leverage. I�ve never traded stocks in my life and no plans to do so ever.
The only stock I ever held was given to me by the IT company I worked for.

As most of us I tried systems provided on Forums and also commercial system. I tried News Trading, 5 min scalping and astrology (just kidding),
but had no luck. I wasted a fair bit of money and precious time on several systems that were not worth their while.

However the learning that took from that was these systems were complex, had too many indicators (or none) and required a great deal of discretion.
So I went and did my own research to see what indicators make sense, what setting works best and what time frame they should be used on.

So What Is The System?

Setup:

* Open up a daily chart on EUR/JPY.
* Apply Bill Willam�s Accelerator Oscillator (AC).
* Apply Stochastic with setting 5,3,3 on top of AC. Use the template if don�t know how to.
* Try and use demo[B] MT4 from ODL securities[/B]. Every broker has different time when they start a new daily candle.
* ODL seems to have the time that works best.[B] I only use their demo account for charts and place my trades on totally different broker.[/B]

Short Entry: RED AC below 0 and Stot below 0
Long Entry: Green AC above 0 and Stot above 0
Exit: OppsiteBuy/Sell signal or as per Money Management.
Filter: Apply 200SMA. If price is below 200SMA then only take short trades. If Price is above 200SMA then only take long trades.

Money Management:

* Trade with 5 Lots with Stop Loss 100 pips away
* Take Profit on 1st Lot at 50 pips. Move Stop Loss to Break Even (BE).
* Take Profit on 2nd Lot at 100 pips.
* Take Profit on 3rd Lot at 150 pips.
* Take Profit on 4th Lot at 200 pips.
* Let the 5th Lot run until you see an opposite entry signal.

The Risk/Reward ratio turns out to be 1:1 or better depending on your 5th Lot. Since we trade on daily and would only take
trades with high probability of success, 1:1 would work just fine.

If you choose to do back-testing then take special care for signals from late November to end of Dec. Low volume during this time
of the year creates wild swings.

My Challenge To You:
Spend 2 mins every day to analyze 8-10 of your favorite pairs. Demo it for 2-3 weeks and post the screen shots of your trades for everyone
to see and learn.

What�s In For Me?
It is time for me to Give Back. I learned a great deal from forums and thought there can�t be another way to share something that can make
us all a lot of money. Plus I hope to learn from others on how to improve this system.

Up Next:

* Advance Entry Signals
* Advance Stop Loss(SL) and Profit Taking(PT)
* What pairs to trade and what corresponding Stop Loss to use?
* What are other tradable Time Frames?
* Squeeze-More � An Intraday Strategy
* FAQ
* EA

I�ll reveal more info about the system once I start to see more interest in this post from Forum members.

Cheers,
OzFx

OzFx Forex System.pdf (119 KB)

Sample Trades.pdf (231 KB)

OzFx-template.zip (937 Bytes)

well so far so good, im impressed. Im up 200 pips on the first trade.

And where is your blog??

Cheers!

Very interesting OzFx. Do you know how to add the email alerts so MT4 will email you on an entry signal
Cheers

timebandit

oz,

I was taking a look at your system and your results and it seems like it has been doing very well that i can see anyway. I think i’m going to demo your system for awhile and see what results i can come up with. However, I was wondering how much capital do you think you should start with when going live and trying to trade this system? I am in college right now and I was maybe going to open a micro account with $500, so I was wondering if you would have any insight about this.

Hi guys,

This system looks interesting… Is there a MT4 EA available that will send email alerts?

thanks

Hi Gilly,
Welcome Aboard. We had a great run in Jan, even though we didn’t trade for half of the days we end up with +1920 pips with the new Filter we used.

If you are going to follow MM I suggested than Micro account with $500 should be ok. Make sure you don’t risk more than 8-10% of your equity at any time.

Cheers,
OzFx

ozfx, thanks for your system… i will give a try for the next few weeks…

just one questions, what is the best currency pair for you to trade? EUR/JPY and why?

once again, thank you!

HI OZFX,

I like the simplicity of this system and am curious to find out if it might fit my lifestyle better. I’ve been watching the charts too much if you know what I mean, although I tell my family it’s just the learning curve part and won’t last forever…or will it? :wink: .

So to help myself backtest this to find out, I’m in the middle of creating an MT4 EA for this. I’ve never done one before but it seems like an easy system to code, and to sink my “baby” teeth into while learning the language.

I am getting some test results and so far it is profitable. I have some more tweaking and condition logic debugging to do but it’s keeps getting better :slight_smile: and I can easily test it on all pairs. Currently trying to figure out how to program for the MM but for now just using one s/l, t/s, t/p level for all lots.

Will hopefully upload a results report in a few days.

I am beginning to learn something…hahahhaha…and guess what? I did 2 trades with this method, going short on the EURJPY and I made a profit of 9.32 and 0.66:D. I am excited because this time I am not looking at any other thing but just trying to use the information you provided in your setup. I am gonna keep trying to be sure I am able to understand you all entirely and this trades are not a fluke for me.

Okay so my question is: I am still not able to understand how to easily use the 200SMA which I believe it is the straight horizontal line drawn across the price action window in the trade. Am I correct?

Can the system send an email to me or alert me?

Thanks and I am still new at this in case my questions are too elementary but I will keep learning.

when prices are below 200SMA, you could only look for short entry to enter.

OzFx Daily Method PIP Update

First lot of EUR/JPY closed for +50. Move SL to BE.

I am not too sure if there is such system. however you can check my blog and register for daily signals.

Thanks for taking to write EA. Let us know how you go. I’ll be looking forward to hear from you.

Cheers,
OzFx

EuR/JPY was just an example. You can trade on any pair you like.

Cheers,
Oz

Good to hear my friend. You can Google “ozfx”. Some how the moderator doesn’t like me to post links here :slight_smile:

Hi OzFx, thanks for your system, Im just wondering how I can set up Stoch on top of AC? I know I can use your template but if I do that, I cant seem to add any more indicators on the chart…

You can simply use the template provided on my blog or click on navigator->indicators-> locate stot and click hold drag on top of AC.

Cheers,
OzFx

You can add your blog to your profile, so when members click on your screen name, it comes up with option box and one of them is “Visit OZFX Homepage” :slight_smile:

Sweet pip…

thanks for the system, at first glance it is similar to the one I’m putting the touches on and if you allready have one in place then I’ll merge the two to fit me and my

We’ve had similar experiences and I can see why our systems seem to be extensions of them… (no more sitting in front to a P.C. fretting all day)

anyway…just wanted to let you know someone else is out there and will be testing and adding imput …

Good luck and may fairweather fill your sails (and your pocket book)

:smiley:

ozfx, do you know what time of the day does ODL server change on the daily bar chart? i mean when a new bar appears