In this post I will be reviewing the Elastic Trader manual forex trading strategy. The name of this particular forex trading strategy makes me chuckle but we shouldn’t let that and the website put us off from the fact that this is can be a good manual trading strategy when used with strong trading discipline and money management principles. One of the primary points of the Elastic Trader is that it focuses on simplicity, which can be key to success. Too many traders try to over complicate things with an overload of indicators and poor money management techniques. This trading strategy goes to show that when you keep it simple you can have trading success. Elastic Trader works on currencies, stocks and binaries and any timeframe, thus making it very flexible (no pun intended!). It is very easy to follow with clear entry and exit signals. I would personally use it on higher timeframes such as the 1 hour, 4 hour and even daily timeframe as they tend to give more reliable signals and filter out the noise from the lower timeframes. This also gives bigger winning trades and you do not have to worry about trade frequency as there will always be trading opportunities on some instruments.
Elastic Trader Trading Strategy
The Elastic Trader gives you clear colour coded and arrow signals for entries at price extremes as it looks to catch the market bouncing in the opposite direction, hence the name. Green arrow/zone means buy and red arrow/zone means sell, it is as simple as that! Any novice trader can use it, just ensure that you cut your losing trades short and let your winners run. Elastic Trader can be used stand alone as a scalping system, intraday or long term strategy. You can even implement it into your existing trading strategy for an additional filter, just make sure you do not over complicate things! Another key feature is that it does not repaint which basically means once there is a signal it is confirmed so you won’t be looking back over your charts and see false signals.
Elastic Trader Summary
The Elastic Trader is a good trading strategy for finding reversal trades. You may want to improve it further with additional filters such as a moving average trend filter or oversold/bought oscillators but in saying that it is good a standalone strategy provided that you use sensible money management as you should with any manual forex trading system. The results on the website show a very impressive amount of consecutive winning trades across multiple currency pairs. It is developed for the MetaTrader 4 trading platform and comes with detailed instructions, indicators, full support and a money back guarantee.