Introducing Crazy.Ivan

After months of hard work Convict Scott and I are very pleased to release several automated trading systems based on a modified subset of price patterns originally invented by Scott’s mentor and teacher Ivan Krastins. We have decided to call it Crazy.Ivan in misguided homage of its original creator.

So What Is it?

Crazy.Ivan FX is a mechanical trading system for 6-hour Forex charts, and Crazy.Ivan Trending is an intraday trend following system for trading extreme price breakouts on 30 min charts. Both Crazy.Ivan subscriptions will be available as bundles of various futures contracts and five of the most popular forex pairs (i.e. EUR/USD, AUD/USD, USD/JPY, GBP/USD, and USD/CAD). During the beta program we will start with the EUR/USD and add additional contracts in the coming weeks.

Scott has personally traded systems based on the very same price patterns since 2002, and Ivan Krastins has been using and teaching them since the 1970’s.  Scott is in constant contact with a community of traders who only use these price patterns for making trading decisions. In addition Scott I and myself have been posting about these pattern based setups for several years now. Everyone who is a regular reader of Evil Speculator has had ample opportunity to witness the performance and simplicity of these patterns for several years.

How Does it Work?

It’s very simple. After you sign up for Crazy.Ivan you will start receiving emails (also SMS after beta testing) alerting you to take entries or to close them at particular price points. Each entry alert will come with an initial stop, which may be amended as the campaign progresses. Here’s an example:

CrazyIvan.EURUSD.30 Alert #47 at 3:33 PM EDT

SIGNALS: IP-L.
TRADE: Buy at 1.3012.
STOP: Sell at 1.29975.
RISK: 14.5 pips.

This alert tells you that an Inside Period long entry has been triggered on the EUR/USD currency pair at 3:33pm EDT. The suggested entry is at 1.3012 and the ISL is at 1.29975. The final row in the alert is equally important as it shows your risk in full pips (or ticks on the futures side) – in this case your risk (calculated by our Protect R logic) will be 14.5 pips. Before taking your trade you now can use our handy Forex Risk Calculator to accurately compute your position size. It’s a rather nifty little utility I hacked up that may become handy to your discretionary Forex trading as well.

So given the above buy alert, $100,000 in trading capital, and a risk ratio of 1%, you would be buying $689,655 worth of the EUR (i.e. the amount of money you know control), which is nearly 6.9 full lots, 69 mini lots, or 689 micro lots. It is crucial that you stick with as precise a position size as possible thus reducing your risk to not more (and not much less) than the chosen risk ratio (in this case 1%, which is what we recommend). f your FX account permits it use fractional lots to approximate the suggested positions size as closely as possible.

The exit or stop alerts you will receive are short and to the point:

CrazyIvan.EURUSD.30 Alert #48 at 5:04 PM EDT

EXIT REMINDER: Sell at 1.3068 and clear all stops.

Crazy.Ivan does not have predefined targets at the onset of a campaign. You will be alerted when an exit condition has occurred or when your stop has been hit. Of course it is crucial that you set your stop as soon as your entry has been taken – we recommend that you place an OCO (one cancels other) order via your trading platform (or via your broker), thus allowing you to walk away and forget about the trade.

Charts & Statistics

Scott will be posting a plethora of charts and statistics in the coming days – most likely starting Wednesday as the poor bastard is moving right now. So stay tuned, we will be rather prolific on this end. If you decide to sign up for the beta program you will most likely also receive an occasional email about Crazy.Ivan related topics or news.

Price

Crazy.Ivan is currently freely available during beta testing after which it will be available for $99.-/month. Subscribers will receive SMS and email alerts. If you like what you see – don’t hesitate and sign up here.

Cheers,