U TURN forex trading system

FOREX U-TURN FROM JASON  SWEEZEY

Jason Sweezey will be familiar to some, he was behind the 4x Pip Snager system – It was a system which promised it was “going to change the way we trade forever”. It did not; here is our original 4x Pip Snager Review

Jason is a professional trader and “obsessed chart analyst” who has “traded almost every strategy ever devised … Pivot points, Fibonacci, Elliot Wave and Price action plus a few more exotic ones”.

Forex U-Turn is a “revolutionary new strategy that puts you on the right side of the trade at just the right time”. Again, it promises to “permanently change the way you trade – forever”. It is a “chart prediction system” and it reveals the exact time to sell any currency. You will make money twice as fast “because you are on both sides of the trend” – “This is a sweetheart position that only the largest investment firms know how to use”, Forex U-Turn “will give you the same power”.

The system claims to be easy to set up (requires Meta Trader 4 (MT4)). It’s easy for beginners and professionals, classed as a “look and trade” system, with no guess work involved at all.

Successful trades are demonstrated by means of 12 different screen shots and 3 videos, testimonials are presented from Dean Saunders, Charles Floyd, Russ Horn and Vladmir Ribakov, names many of you will be familiar with.

This is a Clickbank product and comes with a 60 Day Money Back Guarantee.

The Material

A 58 page manual, the first 18 pages of which are dedicated to opening a MT4 account with ThinkForex and installing the MT4 template and indicators. Restart MT4 – Job done – Installation is really simple.

Note: The indicator is tied to one computer only so if you have a desktop and a laptop you will require two licenses.

A dozen pages of the manual are then dedicated to Forex basics, Money management and Forex news; they may be useful to some.

Support & Resistance is the next topic, it covers traditional Support & Resistance, Moving averages and BRN (Big Round Numbers).

The strategy itself is covered in the remainder of the manual and it includes examples and ideas for Stop and Exit strategies. There are a number of options here and one has to choose the ones they feel appropriate and stick to them; at least that’s what we decided to do.

2% risk per trade is suggested.

The System

This system is based on identifying particular Price action (the U-Turn) and using this in conjunction with two Moving averages, the U-Turn indicator, Price observation and Support & Resistance to identify an Entry.

The Price action identification process is about 80% – 90% mechanical; it involves looking for a W or M formation – The 1st indication of a potential U-Turn (Jason, if you feel this is too much information please contact us and we will remove this reference). Once this is identified then the Moving average crossover (MT4 alert pops up when this occurs) and U-Turn indicator confirms Entry.

Additional discretion is involved as you have to determine if the market you are trading is moving sideways (in a range) or if nearby Support & Resistance negates the Entry.

We opted for one of the mechanical approaches to Stop implementation. 5 PIPs Above/Below previous Swing High/Low, move to +10 when Entry-Target distance is reached, exit when U-Turn indicator changes colour or Stop is taken out.

Target was open so Stop approach managed all Exits.

Risk:Reward is not calculable as Target is open.

Can It Work

We chose to trade the EURUSD and GBPUSD on the 1 hour time-frame during March and April 2011 as these are the instruments and time-frame to which Jason’s updates relate.

The Entry and Stop/Exit strategies identified above were used and we traded 07:00 – 22:00 UK Time. If we missed an overnight exit we exited at market (sometimes for a better, sometimes worse price). If we missed an Entry we entered at the same level or better if the indicators still indicated a trade. We did not miss a significant trade in the two month period but there would be potential to do so.

Our results were as follows:

EURUSD

• Time period / Time-frame = 2 months / 1 hour
• Time Traded = 07:00 – 22:00 UK Time
• Risk Per Trade = 2.00%
• Number Of Trades / Winners / Losers = 28 / +18 / -10
• Percentage Of Profitable Trades = 64%
• Average Winning / Losing Trade = +1.44% / -1.02%
• Profit Factor (Gross Profit / Gross Loss) = 2.55
• Largest Drawdown = -2.00%
• Average Per Month Return = +7.90%

GBPUSD

• Time period / Time-frame = 2 months / 1 hour
• Time Traded = 07:00 – 22:00 UK Time
• Risk Per Trade = 2.00%
• Number Of Trades / Winners / Losers = 34 / +10 / -24
• Percentage Of Profitable Trades = 29%
• Average Winning / Losing Trade = +2.26% / -1.02%
• Profit Factor (Gross Profit / Gross Loss) = 0.93
• Largest Drawdown = -5.35%
• Average Per Month Return = -0.88%

Mixed results but nonetheless impressive enough if taking both pairs into consideration on the basis EURUSD will not always outperform.

There is some discretion on Entry, the main aspect being the identification of a ranging market and Support & Resistance. As this is not present (ranging) until one can see a little bit of chop we often found we had to endure at least one chop in/out before identifying the market was ranging.

This system is reliant on catching all the big moves to compensate for the “choppy” periods and, it seems to do so reasonably well. If however these moves are missed then performance would be seriously affected, thus the importance of this point – There is no real way to avoid significant screen time.

For those with the time to dedicate to this “trend/countertrend following system” the longer term commitment may well reward reasonably well. However, 15 hours a day to ensure all those moves are caught may well just be too much for some.

Delivery to your PayPal email address within 24 Hours of payment confirmation.

Completing units:

New Fractal Lines – mt4 indicator

U TURN forex trading system

Market Sales Price: $199,but we sell lot more lower than that to share the opportunity with you!

Serving Professional Traders Since 2008

Once purchased I will email you the files within 20 minutes and not more than 48 hours to your email, if there a delay, please be patience receiving your files