OzFx System :) 100-800 Pips Per Trade

[ShowMeThePips!!]

lets analyze his system
lets say 3 signals he gives
100 pip stop loss at 5 lots per signal is his style

Ex $5000 account
lets say $1 a lot
total of 15 lots. (5 lots per signal)

First lets take off the margin deposit
200/1 ratio average at $50 a lot for 15 lots total (5 lots per signal) = $750

so you then take that off $5000 and you have in reality $4250 with margin deposit subtracted to play with

Then with a hundred pip stop loss you have to put aside at 15 lots $1500

You would either need a bigger account to do this or just risk it
risking 30 percent of your account.

what happens at about 2 days worth of losses?
what happens when he gives 5 - 6 signals?


the reason picked $5000 for example is because people here are newbies.

I really dont think they have huge accounts


Look at risk to reward ratio

HIS PIPS DONT MEAN ANYTHING


I FORGOT ONE IMPORTANT THING HERE
IN THIS CASE SCENERIO I SAID YOU HAVE $4250 TO PLAY WITH AFTER MARGIN

I FORGOT TO SUBTRACT $250 FOR SIGNAL SERVICE FEES HE IS CLAIMING




SCAM SCAM SCAM SCAM SCAM



people watch out

[nomx]

Originally Posted by ShowMeThePips!!

lets analyze his system
lets say 3 signals he gives
100 pip stop loss at 5 lots per signal is his style

Ex $5000 account
lets say $1 a lot
total of 15 lots. (5 lots per signal)

First lets take off the margin deposit
200/1 ratio average at $50 a lot for 15 lots total (5 lots per signal) = $750

so you then take that off $5000 and you have in reality $4250 with margin deposit subtracted to play with

Then with a hundred pip stop loss you have to put aside at 15 lots $1500

You would either need a bigger account to do this or just risk it
risking 30 percent of your account.

what happens at about 2 days worth of losses?
what happens when he gives 5 - 6 signals?


the reason picked $5000 for example is because people here are newbies.

I really dont think they have huge accounts


Look at risk to reward ratio

HIS PIPS DONT MEAN ANYTHING


I FORGOT ONE IMPORTANT THING HERE
IN THIS CASE SCENERIO I SAID YOU HAVE $4250 TO PLAY WITH AFTER MARGIN

I FORGOT TO SUBTRACT $250 FOR SIGNAL SERVICE FEES HE IS CLAIMING




SCAM SCAM SCAM SCAM SCAM



people watch out

Signal Service?? i didn't know about this i thought it was a free system as i saw in one of the forums ...

SCAM SCAM SCAM SCAM

[Fido Dido]

Yes It Is A Scam!!!

[RebateFX]

Yes his paid service is questionable as is the way he suckered everyone in with free signals, but if you use the free system yourself you can make some pips.

[popoola]

Guys

I just want to add my 2 cents to this debate.

I have a belief that OZFx is being called a scam because he is now charging for his services. I can say that although I am not paying for his services I benifited big time from the initial free period. You say it is a scam. This man released the whole strategy publicly for all to see and follow. He also created a metatrader indicator for all to download and use in order to remove all posible misinterpetations of his system. He even had a free forum which he personally managed giving updates about about every trade he made. Everybody hailed him then when he was 'pipping' peoples accounts and pockets. Now that he is charging he is now called a scam!

Secondly I've read posts where people were calling him a scam because of the way he counted the pips profit. Yes the system calls for 5 lots all at once. But think of this if you made 10000$ from a trade is that not 1000 pips of a full contract? So you dont like the headline 800 pips advertisment. He never said '800pips per contract'. When I traded his system i couldnt handle 5 full lots so I split the one lot I could handle into 5 and traded 5 0.2 lots. It is as simple as that. The system involves a massive entry and a scaled exit. So if the whole trade works out you can make 1000pips! A good trend will yeild handsome results!

Have you tried asking Iris for an explanation? Go and look through his thread and see. You will see the mother of all mumbo jumbo. After reading a summary of his method you would want to give up trading. (By the way much respect for your trade calls iris.)

A scam is a situation where you are paying something for nothing. Where you are not getting the real intended result. If you can stick to this trading plan it will work for you. Incidentally it signalled the latest fall in the pound and some people made 225 pips using his methods. Whether 250$ monthly is too much or not is a different matter but just dont be too quick to label a good trading system a scam. You can call it too expensive etc but not a scam.

My 2 cents

[rufffen]

popoola, 50% drawdown speaks volumes, Im sorry, 1000+ pips will not save your account from that, unfortunately. Everyone has a choice, however I believe that educated traders might as well do some due dilligence, before making any decisions.

[popoola]

Hi Ruffen

Thanks for answering to my post. You, marketwavez and golhuntsleep ought to be mentioned in my last post along with iris. Much respect.

I wasnt saying the strategy was perfect. No strategy is. And of course 50% drawdown is suicidal. However if this strategy is traded withing excellent MM of say max 5% account size with experience it can work out.

My other argument is even if the drawdown is heavy as this one can be. People should not be quick to scream scam. As I said above I tested this strategy and made money with it. I have strategies of my own that would have failed woefully in those conditions where I traded his strategy with profit.

Thanks again for your input. Keep dishing out the good for stuff.

[Askjo]

I tested OzFX method by using a demo trading and traded 9 days since 3 weeks. No joke!

23 wins

5 loss