Author: Rich Fitton (i.e me)
Where to buy: http://www.omtrader.club/recommended/
Ongoing costs: N/A
Guarantee: 60 day unconditional
What are you paying for?
A full strategy manual plus 60 days of Rich’s weekly trading alert/summary
What’s the big Promise/The Low Down (summary)
OMT is designed to remove one big obstacle stopping traders making progress – lack of time. With this strategy you don’t need to spend more than 10 minutes (once per day) checking your charts and placing your orders. And you can do it all late in the evening too which means it’ll be a great fit for the vast majority of home traders.
The rules of the strategy help you lock onto the path of least resistance in each of the 5 markets traded. OMT looks for one or two prime opportunities per week in each market and lets the trades run typically over two to three days. It means there’ll be plenty of opportunities to keep you engaged but not so many that you feel like you’re juggling too much activity all at once.
There’s a no-nonsense hard target for each trade that takes your profits for you automatically while you’re out and about doing other things. And there are also two optional profit ‘settings’ you can choose from: the Consistent setting looks for a smaller profit on each trade but aims for smooth week-on-week growth to your equity. And the Active setting looks for a bigger profit on each trade and a larger haul of net pips across the long term. You can choose whichever setting suits your outlook best (or even trade a combination of both settings at the same time if you like).
How big a trading bank do I need to get started?
As the minimum trade size is 10p per pip, hypothetically you could start with a very small bank. But to ensure your risk levels are right, and to make sure you can participate in every single opportunity OMT flags up, I would recommend a £500 start bank.
There are two stages to implementing the OMT strategy each week – getting set-up and then monitoring the markets.
All the setting up is done on Monday night (after the US markets have closed). That’s when you look up a few specific prices in each market. This then lets you uncover the trading opportunities for the rest of the week and there are no judgment calls to make because the strategy rules tell you exactly where the trades are in each market. You’d usually draw a few lines on the chart at this stage to help you keep an eye on the relevant prices, but it’s all quick and very straightforward to do.
As far as the monitoring goes, that’s just a quick peek at each of the five charts each night Tuesday to Thursday to see what’s happened during the day, and to maybe adjust your orders to start reducing risk and locking in profits on your open trades.
How much time will I need to make this work?
Monday:10 minutes (setting up)
Tuesday to Thursday: 2 minutes (monitoring)
Friday: 2 minutes (to close any trades that are still running)
What’s the difficulty level? (beginner/intermediate/advanced)
This is a very simple strategy so would suit beginner, however it could be added to an existing trading portfolio so would also suit more advanced levels.
Which Market does it work in?
OMT trades 5 pairs in the Forex markets – EURUSD, GBPUSD. EURGBP, USDJPY & AUDUSD
What will I need to get this to work?
Internet, trading account (Though Rich shows you how to set up an account if you don’t have one already)
Company Name & Contact Details:
Canonbury Publishing Ltd
Curzon House, 24 High Street, Banstead, Surrey, SM7 2LJ
Tel 0208 597 0181
email: [email protected]
The Bottom Line:
O.K obviously I’m biased as it’s my strategy! But OMT is precisely the kind of thing I wish I had at my fingertips when I first started out. And I did design it specifically to fill that gap. It removes the need to spend inconvenient amounts of time at the screen which means yes, you can get on with the other commitments you have in your life, but it’s also going to help with your trading discipline too… a quick check in once per day is going to prevent you from tinkering around with your orders before the right time. And this can be a huge help in establishing consistent results from your campaign.
The other thing OMT is going to do is show you how a probability based method can be the road to regular profits. You’ll never be guessing if the market is going to do this or that based on subjective analysis. With this, it’s just a case of using the strategy rules to get the cast-in-stone trading prices each week, pulling the trigger on the trades, and then tallying up your results at the end of the month!
The way the trading prices are arrived at means you’ll always be trading in line with the underlying trend in each market. Yes, you’ll take losing trades along the way for sure, but with a strike rate of 58.8 on the trades, and with some of those trades achieving a potential 3:1 reward to risk ratio, it’s not difficult to see how the pips can soon start racking up.
I’d love the opportunity to show you how it all works and help you get your own OMT campaign up and running. I’m working hard to ensure you receive the very best support too – as well as my own review of the trades every Sunday I’ll also work out the trading prices for you each Monday night for the week ahead. This is all comes bundled in free for 60 days. After that, the strategy is so simple I’m sure you’ll be more than ready to begin working under your own steam, but I’m only ever a quick email away if you do have any questions.
And of course, the 60 day guarantee means you get to try it all out before making your final commitment to continue trading OMT anyway!
We are currently trialing this so would love to know what you think. If you’ve used OMT please leave your comments below as it’ll help other Trader’s Nest members to decide if it’s right for them.