I agree with you. It is so easy to spot the entries. He just can't make money trading forex, now he wants everyone to pay him money.

yes I agree...

I had demo'ed this system for a short period when it first initially arrived on the scene and finally gave up on it, a very big drawdown in my opinion if you follow his rules. It seems that what he posts as his signals for exits does not fit into his rules. I saw in another thread that those who traded his system live also failed miserably.

Another lesson learned. There are so many systems posted here and in other forums which also fails miserably in real life. One must demo the systems and not just look at the past and think "WOW, this is a great system." The past always looks so great after the fact, but how many of us actually trade with them now? If you are making PIPS then stick with what you know, and stop looking for the Holy Grail....

I had wondered about OzFX system, but never tried it primarily because of the flawed money management system. You're risking 150 pips to get 50 pips, once it's moved 50 pips in your favour. Then, you need a further 50 pip move in your favour before you've managed to break even.

Basically, if it moves 50 against you, you're screwed. If it moves 100 in your favour then you can get out unscathed. The laws of probability are telling me that the first statement is going to be true more often than the second. You can throw any amount of indicators into the equation you want, but probability is going to take a dump on this plan before it can even get started. The golden rule is that you should never risk more than what you're aiming to profit in any given trade. That fundamental rule does not apply to the Oz system if we follow the 3 trade MM rules.

I wonder if the Oz system combined with one trade might give better results. You know, 50 pips against you, take a loss. 50 pips for you, you take the profit. I feel that a 50 pip swing is much easier to obtain reliably rather than the Oz requisite of 100.

Oh well, why pay for it anyway. All the info is freely available. Even so, there are much better truly free systems here. A few of the ones which are profitable for me on my live account, in no particular order, newdigital Channel, Kuskus ISAKAS, Fx Cruiser HamaPad, or Bear's Simple Crossover. The authors of these sytems have done an excellent job, and need a big hurrah from me!!

I've been doing well with OZfx signals (my own, not Oz's lol).
They are very simple to see, and with a little experience at reading price action, you will make pips. A lot of pips.
You can trade them two ways. The oz way of 5 lots and scaling out (I use 3) or just trading 1x lot and taking 50 or 100 straight up, or trailing the stop.
Any way you want to do it, the strategy is sound especially when an experienced trader uses it to point out obvious large moves.

__________________
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ydaudw
Member Member Since Nov 2007
Posts: 87

v 1.7

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03/25/08:: v1.7 Modified by ydaudw. Give options to customize period, filter and fix some bugs.

extern string PairsList = "EURUSD,EURGBP,EURCHF";//- This is where you add the currency pairs you want
extern string SymbolSuffix = "";//- If your broker names the currency pairs with a suffix for a mini account (like an "m", for example), enter the suffix here
extern bool ShowTimeTillNextBar = True;
extern bool ShowAESSignal = True;
extern bool Show4HoursSqueezeMore = True;
extern bool SMAFilterOriginal = False;//- Filter Original Method with SMA
extern bool SMAFilterAES = False;//- Filter AES Method with SMA
extern int SMAFilterPeriod = 200;
extern int StochKPeriod = 5;
extern int StochDPeriod = 3;
extern int StochSlowing = 3;
extern int ATRPeriod = 5;
extern int OriginalAndAESTF = 1440;//- Original & AES Signal Timeframe: 1, 15, 30, 60, 240, 1440 - Default is Daily (D1)
extern int SqueezeMoreTF = 240;//- Squeeze-More Timeframe: 1, 15, 30, 60, 240, 1440 - Default is H4

Above is copy and paste frm other thread..it is built by ydaudw as far as i know..correct me if im wrong..

If anyone could optimize this to highest level..i would appreciate it..this indicator generate signal based on ozfx rule..im not sure how it really works but so far seem ok..but perhaps there is something briliant out there can optimize it!

I would be glad if we can look into this..

Attached Files

OzFx Signals v1[1].7.mq4 (9.9 KB, 179 views)

Hi Guru,
Anyone can add the email function/alert to the latest OzFX EA?
Thank you

Can you explain the 3 trade MM rules please?

Thanks

What's the best pair and timeframe to use the manual OzFx System? I want some advices.

hello ,it's not possible to open ozfx signals v 1