Quote:
Originally Posted by OzFx
Hello Friends,
We had an outstanding month with +2980 Pips in the month of May. There were total 32 trades out of which 27 were winners.
Here is the breakdown per signal type.
1. Daily signals: 15 wins out of 16.
2. Oz Special: 7 wins out of 9
3. AES Signals: 5 wins out of 7
You can download the detailed spreadsheet here.
Cheers,
Oz |
These are just words - no proof ever given. By the way you can also manipulate reports but it takes some work to do so. So I think he made a lost with his own system and was now trying to recover selling signals. No question the system seems to work for some time but the risk/reward relation is to high on the part of the risk.
I have a similar method that I use sometimes:
1) look at your slow stochastic (5,5,3) to be up 80 (overbought) or down 20 (oversold). When 80 look for the stoch-line going down, when 20 look for the stoch-line going up
2) take a look at a day chart and look at your 200 SMA so you can determine the trend of the pair - go always with the trend as it is "your friend"
3) look at a Harami-Formation of your candle sticks: the current bar must be less or equal to the bar of the left side. The current bar can have the same size as the previous bar but better if it less in size
4) buy when trend up and stoch-line going a little bit up - sell when trend down and stoch-line is going a little bit down
5) trade on a daily chart
6) wait for for some time - it can happen the you have gains after some minutes or after 8 to 10 hours. In the mean time you can experience a drawdown of 200 to 350 - specially with GBP/JPY, GBP/USD, GBP/CHF. Therefore your account must be managed that way that you can go into that deep
7) it works sometimes inmediately after the London opening - but you must wait 1/2 or 1 hour after the opening. Big drowdawns happen to be during the Tokyo opening. Also a good time is after the New York opening.
8) "What goes down must go up and vice versa" so the good thing is: if you made a trade in the direction of the trend you can be pretty sure that your trade will bring you some good pips
9) You can also trail but must be around 25/30 pips at least
My positive experience: it works almost to 90/95 % everytime. Gains are almost good
My negative experience: I am always in tension because of such big drowdawns - I must always take a look at my monitor at least every 2/3 hours - sometimes I waited between 15 and 20 hours for good results.
When to exit? Well, when you think you have enough gains - don't wait for too long
An alternative method:
1) look at your slow stochastic (5,5,3) to be up 80 (overbought) or down 20 (oversold). When 80 look for the stoch-line going down, when 20 look for the stoch-line going up
2) take a look at a day chart and look at your 200 SMA so you can determine the trend of the pair - go always with the trend as it is "your friend"
3) look at a Harami-Formation of your candle sticks: the current bar must be less or equal to the bar of the left side. The current bar can have the same size as the previous bar but better if it less in size
4) enter at a 15m chart - after you saw the harami-formation: the left bar must be bigger or equal to following bar. Enter after harami has formed.
Positive experience: it works most of the times. Gains are not that big but good enough
Negative experience: it is not easy to find a pair where the slow stochastic is around 80 or 20 and at the same time you have a harami formation
The most important point is: every method works for somebody. The problem is that you must find your own method. This is not an easy task and it can take months to years until you are in a position that you can say: it works - for me - most of the times. And even then you should go on learning anew because after some years the marked changes because of a new posibility like today trading online from your laptop etc. The market is always bigger than you - no one can ever beat the market. So your method should reflect this issue. This is not new and a lot of traders know this fact.
Chears
Great idea!
Sounds like a plan!!!
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