OzFx System :) 100-800 Pips Per Trade - page 12
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Still Has Bugs
I have fixed the bug in v1.4. The EA will open trade at 0000 GMT only. I haven't had the chance to forward-test this, so please report any more bugs.
Sorry Azmel, but I have backtested both GBP & EUR and we still have an issue or two.
1) I believe there is an issue with the time - I think maybe it needs to be 23.59 & 59secs as trades are opening at the open rather than at the close of the candle that generates the signal. Aternatively when a new candle opens we need to look at the previous candle for a signal? I'm not sure how you would program it but it's not right at the moment.
2) I noticed a trade that went into profit taking out 3 T.P's and the 4th & 5th lots reversed and were stopped out for a loss. It appears that the stops being moved to B/E at T.P1 is not functioning properly.
3) There were quite a large number of valid signal generated that were not taken, however this may rectify with the time issue being fixed.
See screenshots for clarification. Cheers, Jase.
Trading JPY pairs
Thanks Jase, I will look it up.
BTW, for those who want to trade the JPY pairs and use MoneyManagement, multiply leverage by 100. For example if you have leverage 1:100, then enter 10000.
Another note: becareful if you are using MoneyManagement, because if the EA calcuates that you don't have enough free margin, it won't open any trades.
Regards,
Azmel.
No. It did not. He opened two trades on other pairs. EA trade is up 10 pips.
azjeff, could you take a screenshot of your chart where the EA missed opening the trades, and post it here?
On all my charts (I forward-test on 8 pairs), there is no condition to open trades yesterday and today so all is quiet here. However on OzFx's email, he open shorts on GBPUSD and EURAUD.
Regards,
Azmel.
GBPUSD is a no-go
Here is a sreenshot of my GBPUSD pair. There is no signal, therefore it is a no-go to open trades. However, I believe OzFx's chart is different because in his email, he open short on GBPUSD.
Hi Azmel,
Let me clarify my earlier post. I did not state it missed those trades. The ea only opened one trade and that was on the pair I mentioned. It did not open any other trades. I do not know if the ea missed them or not. I do not have any screenshots because I closed the mt4 platform.
Jeff
azjeff, could you take a screenshot of your chart where the EA missed opening the trades, and post it here?
On all my charts (I forward-test on 8 pairs), there is no condition to open trades yesterday and today so all is quiet here. However on OzFx's email, he open shorts on GBPUSD and EURAUD.
Regards,
Azmel.azjeff, could you take a screenshot of your chart where the EA missed opening the trades, and post it here?
On all my charts (I forward-test on 8 pairs), there is no condition to open trades yesterday and today so all is quiet here. However on OzFx's email, he open shorts on GBPUSD and EURAUD.
Regards,
Azmel.Hi Azmel,
Thank you so much for your GREAT JOB !!
This morning I was running your Ozfx ver 1.5 with 9 pairs ( exclude JPY, like your suggest ).
My question's :
1. How much minimum equity from your suggest if we are using Ozfx ver 1.5 ( default setting ).
2. Did you was open the position until now ??? ( Cause untill now, there is NO open position with my trade. I'm using $ 1500 and default setting in 9 pairs. )
Thank you Azmel fro your explain and KINDNESS.
Best regards,
Paulinge
Nice system..
I been try using ozfx 1week.so far so good.
you right azmel thank Q for ur explain...
===Yuppy Teen Forex Shawonchi====
Hi Azmel,
Thank you so much for your GREAT JOB !!
This morning I was running your Ozfx ver 1.5 with 9 pairs ( exclude JPY, like your suggest ).
My question's :
1. How much minimum equity from your suggest if we are using Ozfx ver 1.5 ( default setting ).
2. Did you was open the position until now ??? ( Cause untill now, there is NO open position with my trade. I'm using $ 1500 and default setting in 9 pairs. )
Thank you Azmel fro your explain and KINDNESS.
Best regards,
PaulingePaulinge,
Rather than determining how much minimum equity to start with using the default setting, let's work the other way around instead and calculate how big the lot size will need to be given a starting equity amount.
To answer this question, you need to ask yourself back two important questions, which are:
How big is the profit that I want?
How much money that I prepare to loose if the trades go bad?
Now let's start with the first question. If we take OzFx's post #33 as reference, this month he is netting 520 pips already, and it's only half month in February. In his footnote, he mentioned that last month he scooped 1720 pips in total. Okay, for the sake of calculation, lets say that the average pips per month is 1500 pips.
If you want 10% profit per month on your $1,500 capital, then that works out to $150. With 1500 pips at at $10 per pip per lot (for standard account), then for you to achieve this target, your lot size will need to be 0.01 lot.
Here's the math:
0.01 lot x $10 per pip per lot x 1500 pips = $150 profit.
Now let's calculate the losses. In his post, OzFx highlighted that he has a 26/31 success ratio. In other words, out of 31 trades, 5 will go bad. Let calculate how much you will loose if 1 goes bad.
The default setting is a stop loss of 100 pips. The EA will open 5 trades so that's 100 pips x 5 trades = 500 pips. Using the same math above:
0.01 lot x $10 x 500 pips = $50 loss per bad trade.
Now OzFx doesn't say how many trades he make in one month. Let say in one month there is 31 trades (for example only), and your luck is really rotten that your first five trades all went bad. So your total losses will be $50 x 5 = $250.
So based on the default setting, $1500 should generate 10% profit if we are based on OzFx's statements, and if your luck went bad and looses five times in a row, you will loose 16.7% of your equity.
Oh yes, the EA can trade JPY pairs if you wish. The only problem is when you are using MoneyManagement. If you are using MoneyManagement, then multiply your leverage by 100.
I will address all of this in version 1.6
Regards,
Azmel.
" Another question's "
Hi Azmel,
Thank you so much for your explanation. VERY CLEAR and make me understood.
Another question's :
1. In your Ozfx version 1.5 there is note like this :
//| VERSION HISTORY |
//| 1.0 - Initial version with AC and Stochastic indicators. |
//| 1.1 - 200SMA filter added by Matt Ebersviller. |
//| 1.2 - Recorrected the 200SMA rules and rewrote closing |
//| subroutine when new signal arrives. |
//| 1.3 - Debug the closing routine of the 5th trade |
//| 1.4 - Debug a bug not taking longs when a valid signal arrives |
//| 1.5 - Trades will only be placed on 0000hrs (broker's clock) |
//| only. Rearrange codes.
Can you helping me to understand the meaning of to version 1.5 ????
2. What the meaning of " Slippage = 5 ".
3. Did we have change setting for your Ozfx EA to running it. ( Cause until now from early morning, there's NO open trade. Is it right or NOT the same with your trade. )
Thank you so MUCH Azmel', for your explain and everything you have DONE.
Best regards,
Paulinge
Hi Azmel,
Thank you so much for your explanation. VERY CLEAR and make me understood.
Another question's :
1. In your Ozfx version 1.5 there is note like this :
//| VERSION HISTORY |
//| 1.0 - Initial version with AC and Stochastic indicators. |
//| 1.1 - 200SMA filter added by Matt Ebersviller. |
//| 1.2 - Recorrected the 200SMA rules and rewrote closing |
//| subroutine when new signal arrives. |
//| 1.3 - Debug the closing routine of the 5th trade |
//| 1.4 - Debug a bug not taking longs when a valid signal arrives |
//| 1.5 - Trades will only be placed on 0000hrs (broker's clock) |
//| only. Rearrange codes.
Can you helping me to understand the meaning of to version 1.5 ????
2. What the meaning of " Slippage = 5 ".
3. Did we have change setting for your Ozfx EA to running it. ( Cause until now from early morning, there's NO open trade. Is it right or NOT the same with your trade. )
Thank you so MUCH Azmel', for your explain and everything you have DONE.
Best regards,
PaulingeThis EA will look at the charts only once a day and that is at 0000 GMT broker time. After that it will sleep for 24 hours and look again on the next 0000 GMT. If it does not open any trades this morning, it won't do anything until the next 0000 GMT.
Slippage is the difference in pips that you are willing to accept from your asking price when you open a trade. Suppose you want to buy 0.1 lot of EURUSD at a certain price. Let say the market moves very fast that the price changed quickly. If you specify slippage, then what you're saying is that you're OK if the market changes by this much pips by the time the dealing desk approve your purchase. And if the price does change, then the purchase will go ahead anyway because you have specify that you are OK with the changes.