OzFx Forex System

The author of this forex system said this forex strategy has given him consistently profit from forex trading. It was interested because the forex system could potentially result 100 - 800 pips per trade on daily chart. Let us see his 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 MT4 from ODL securities. Every broker has different time when they start a new daily candle.
* ODL seems to have the time that works best. I only use their demo account for charts and place my trades on totally different broker.

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 200 SMA 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.

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.




OzFx
Forexfactory.com