The OViCoPilot is the new automated module of Guy Cohen’s unique OVI-Flag trading method. With no human interference, no compounding and no leverage, this system achieved net profits of over 208% (that’s triple the account), and these results include the time of the 2008-2009 crash (the biggest since 1929).
The new automated OViCoPilot which has been tested to tough institutional standards, making trading even easier and more efficient, while also reducing risk. Guy’s unique technique combines price action together with hidden transaction activity to form a brilliant “forensic” method of trading.
He’s now taken this to a new level with the OViCoPilot.
The OViCoPilot stays true to Guy’s classic method, finding the best OVI-Flag combinations, and capitalizing on big moves BEFORE THEY HAPPEN!
Watch this video to learn more:
==> How to Use Options Data to Identify AND Trade the BEST STOCKS in 10 Minutes per day
This is a must watch video! Here’s what you’ll get:
- Why Wall Street wanted to keep my stunning discovery about options a secret
- The trading system that is approved by hedge fund managers
- How to capitalize from options data WITHOUT knowing how to trade options
- How to SPY on the insiders in the market
- How to identify high-probability and low-risk trades
- How do all this in just 10 minutes per day
OViCoPilot Frequently Asked Questions
Why is the OViCoPilot not producing any trades?
As Guy has stated from the outset, there will be times where the OViCoPilot finds no situations that fit its algorithms. Ultimately this is to protect you. The OViCoPilot only produces trades that fit its optimized settings. Even if a stock looks great and could even be a great trade, if it misses the algorithm by a penny it won’t be included.
Remember the equity curve of the OViCoPilot from 2008 to early 2013 (see below). It does have periods where it is very quiet. This can last for weeks at a time. But then all of a sudden it can make a big burst. This is absolutely by design. We want to be active when the market is in our favor, and quiet when it’s not. Breakout trading systems do tend to work in this way.
When the OViCoPilot is inactive, can I find trades myself with FlagTrader (or the OVI Traders Club site) instead?
Yes, absolutely. This is why the OViCoPilot is not available on its own and is only available together with FlagTrader. The latest version of FlagTrader is significantly improved and more precise, meaning significantly less time required to find great setups.
I noticed the OViCoPilot occasionally highlights a stock that has already broken out? Is this still tradeable?
Yes, it’s still tradeable within the OViCoPilot world. Remember the OViCoPilot is automated and is not intended as a discretionary system. The parameters have been optimized and occasionally bring up a stock that has just broken out and is still tradeable. By contrast, FlagTrader and the OVI Traders Club are intended as a “guided discretionary” method. For that we only trade the breakout itself. Ultimately there are subtle differences between trading an automated system where the parameters are absolute, and a guided discretionary system where you can use your eyes.
Watch this video to learn more:
==> How to Use Options Data to Identify AND Trade the BEST STOCKS in 10 Minutes per day
There are trades in FlagTrader that look great but aren’t in the OViCoPilot. Why not?
The OViCoPilot adheres to very specific and precise formulas that have been back-tested and optimized over several years, and then run forwards. As such there will always be seemingly great opportunities that are not picked up. This is why we want you to be able to find your own as well – either via FlagTrader or the OVI Traders Club as well if you have it.
Over what time frame should I evaluate the OViCoPilot’s effectiveness?
The OViCoPilot was originally tested over a period of five years from 2008 to 2013. This period included the stock market’s biggest crash since 1929 and its subsequent recovery. The OViCoPilot outperformed the S&P each year. In terms of evaluating the system it’s something you should monitor over a couple of years at least. It’s not something to judge just after a few weeks or even months, because the market could be going through one of its prolonged sideways moves. During these times the OViCoPilot will be subdued.
In the ‘New Orders’ page it says the trade should be opened as a ‘buy stop’ for long trades. What if the stock gaps up at the open?
The OViCoPilot has been tested to include gaps. This is different to the ‘guided discretionary’ method that Guy teaches in FlagTrader where you would use a buy-stop-limit order where possible. For OViCoPilot trades the entry is intended as a ‘buy stop’ order. This means you may indeed be gapped at the open.
Which markets does the OViCoPilot cover?
S&P 500 Only
How far back has the OViCoPilot been tested?
The OViCoPilot was extensively back-tested from the beginning of 2008 to the end of 2012, and then forward from the beginning of 2013.
What happens if I missed the trade and it’s already been triggered?
If following the system strictly then you’ve missed that trade and it will now be in the ‘Working Trades’ area. If you’re applying your own discretion to the OViCoPilot, then you may take a view.
How should I size my trades?
Our excellent results are based on trading with the same dollar size of trade, regardless of the share price. This means that all individual trades carry virtually the same amount of risk as each other. You are free to position-size as you wish, but be careful to not be over-exposed on any single position.
Watch this video to learn more:
==> How to Use Options Data to Identify AND Trade the BEST STOCKS in 10 Minutes per day
What is ATR and why do you use it for the OViCoPilot but not FlagTrader?
Average True Range (ATR) is a measure of volatility which our CoPilots use in order to determine optimum profit targets, initial stop loss and trailing stops.
The reason for using ATR for the CoPilots is that the system is entirely objective and automated, so the figures we use are based solely on results from extensive back-testing. You’ll notice that within FlagTrader we teach a more discretionary way of managing our trades. This ‘Guided Discretionary’ method is not possible with an automated system.
The ‘True Range’ indicator is defined by the greatest of the following:
- current high less the current low.
- the absolute value of the current high less the previous close.
- the absolute value of the current low less the previous close.
The average true range is a moving average (generally 14-days) of the true ranges. For our CoPilots we use different multiples for ATR for profit targets, initial stop loss and trailing stops.
When a stock opens with a gap beyond the entry price, how is this being recorded in the CoPilots section?
In our back-testing, if the stock gapped up past the entry price, we assumed a fill at the open. We found that this is quite conservative, especially because many times the gap is filled very soon after the open and better fills are to be had. However, we also felt that the open is the fairest way to record new gapped-up trades moving forward, even if it may be harmful to our stats.
How do I calculate the spreadbet price for the Buy Entry and Sell Stop?
You can use the Spreadbet Pricer calculator for this.
Use the Buy mode with the Buy Entry Price to calculate the spreadbet entry price then use the Sell mode with the Initial Stop price to get the spreadbet sell stop price
Results are indicative as to IG Index’s stated pricing algorithms.
Setting orders for P1 with IG Index
When taking P1 with IG Index you’ll have to actually place two orders.
Watch this video to learn more:
==> How to Use Options Data to Identify AND Trade the BEST STOCKS in 10 Minutes per day
Who Is Guy Cohen?
A trading innovator, Guy Cohen is the creator of the OVI, FlagTrader and OptionEasy, as well as being the author of several best selling books.
- The Insider Edge
- Options Made Easy
- The Bible of Options Strategies
- Volatile Markets Made Easy
With blue chip clients who have included NYSE Euronext and the ISE, Guy has introduced his user-friendly brand of trading to over 100,000 traders throughout the world.
Specializing in stock and options trading applications Guy is acknowledged as a trusted pioneer of trading education.
An established and entertaining speaker, Guy’s applications serve as a virtual trading mentor, dedicated to your success.
Guy has an MBA (Finance) from Cass Business School, London.
Guy’s books are bestsellers in the field of trading, and are translated into multiple languages including Mandarin Chinese and Indonesian.
Watch this video to learn more:
==> How to Use Options Data to Identify AND Trade the BEST STOCKS in 10 Minutes per day