OzFx System :) 100-800 Pips Per Trade

[timidave2005]

Hello everyone, i've tried this system on demo even before it was posted here. I went to Forexfactory to find a system on demo, After i posted my thread, OZFX was the first to send his system to me. I've tried his system on 8 pairs. I entered trades on all the pairs the same day. I came back 3 days later to check my demo and my target for all the pairs was hit for 100pips each
Maybe you guys can'nt remember me in this forum, but i've really been frustrated with my trades on forex over the last one year since i started learning. On the verge of giving up on forex, i discovered OZFX system and it is the BEST THING THAT EVER HAPPENED TO ME IN MY "FOREX WORLD". oz, I'M grateful to you!

David

[Marsh]

I entered a trade based on this system and am curious about something...according to the Charts i am looking at about what happened over night, my take profit should have been hit, but for some reason it did not go thru...any ideas?

Here is a pic of what i mean, the price went below the TP line, but my trade did not close....

I am using MT demo with FXDD by the way.

[Sweet Pip]

Originally Posted by kent123

Does this strategy work on any pair. And what are the best pairs you've found that work well with this strategy. Also can you give me an estimate as to how many times this strategy works opposed to loses.

Hi kent123,

I've been working on an EA to backtest for now. Right now I'm not using the same money management strategy as OzFz's yet and instead going all in untill it gets stopped out by either take-profit, trailing-stop, or initial stop-loss.

So far some pairs are better than others, and if I change the s/l levels & t/s, then it's different pairs fairing again. I've had ranging from a 80/20 win/loss, 40-60 win/loss but again if the wins are at 800 pips and the losses at 100pip, even at only 40% win, you can still make profit.

So I would say depending on the pair, you may need bigger or small stops for it to be successful. It just takes a long time to demo and find out.

OzFx, if your findings are similar or not, then pls share...thanks!

[Sweet Pip]

Originally Posted by Marsh

I entered a trade based on this system and am curious about something...according to the Charts i am looking at about what happened over night, my take profit should have been hit, but for some reason it did not go thru...any ideas?

Here is a pic of what i mean, the price went below the TP line, but my trade did not close....

I am using MT demo with FXDD by the way.

Hi Marsh,
After looking at your chart, it looks like you have two short orders in place. Unless yours is different, mine usually displays a red line below/above the order line to indicate tp. If you go into modify your order, do you have a value in the Take Profit entry box?

[Marsh]

hey, thanks for the reply.
I do have 2 trades going, and one of the was supposed to TP there but did not. Not only that, but now it went up and got stopped out like 4-5 pips under my SL...
I cannot post a chart now cuz im on my pda, but when i can i will further analyze what happened.

[Marsh]

Yeah, something is fishy here. My TP/SP's werent hit accurately and im not sure why.

Luckily this is a demo account, but here is a situation that would have lost me valuable pips and i need to know i can trust my SL/TP's.

Check it out.



Wow, after 30min of trying to get a pic on this site, here is a link to it at Photobucket....sorry.

http://i271.photobucket.com/albums/j...shman300/2.jpg

[SOURBH]

Hi,
I am not able to understand how the losses are at 100pips..If you trade with 5 lots then the losses should be around 500pips..?

[newtrend]

Originally Posted by Marsh

Yeah, something is fishy here. My TP/SP's werent hit accurately and im not sure why.

Luckily this is a demo account, but here is a situation that would have lost me valuable pips and i need to know i can trust my SL/TP's.

Check it out.



Wow, after 30min of trying to get a pic on this site, here is a link to it at Photobucket....sorry.

http://i271.photobucket.com/albums/j...shman300/2.jpg

I suppose you are not taking into account the spread which is 4-5 pips. So if the bid was .8915 the ask would have been .8920 or so which was higher than your TP. Similarly with your SL even the 'bid' didn't appear to touch your SL but 'ask' did and took you out of the trade. I hope I am clear.

Happy trading

Newtrend.

[Sweet Pip]

Originally Posted by SOURBH

Hi,
I am not able to understand how the losses are at 100pips..If you trade with 5 lots then the losses should be around 500pips..?

Actually, the value of the loss will be 100 pips x 5 lots....the current price level would still be 100 pips away from your entry price, not 500.

Don't forget though, when the price has moved 100 pips in your favor it's also 100pips x 5 lots in profit

You could change it to 1 lot, or 2...fit it to suit your comfort level.

[Marsh]

"I suppose you are not taking into account the spread which is 4-5 pips. So if the bid was .8915 the ask would have been .8920 or so which was higher than your TP. Similarly with your SL even the 'bid' didn't appear to touch your SL but 'ask' did and took you out of the trade. I hope I am clear.

Happy trading

Newtrend."


Well that does make sense when applied to this situation, and both my TP and SL were a few pips "lower" on a short trade.... but the only thing is that my SL said ".8987". There is no confusion there, then it got stopped at what LOOKS like .8985 or something, but at the history page it says it stopped at .8987, which was NEVER actually touched...as far as i can tell.

Whatever, i guess this is just one of those mysteries.