In this post I will be reviewing the Forex 1 Minute Trader Trading System. This is a manual forex trading strategy specifically developed for the MetaTrader 4 trading platform. As the name suggests, this is a forex trading system for trading on 1 minute charts. It does take lots of practice and skill to successful trade on such a small timeframe but this system can help you to do so. I will say that make sure you are using a true ECN forex broker especially when trading on the 1 minute charts as you will need the lowest trading costs and fastest execution possible.
Forex 1 Minute Trader Trading System
The Forex 1 Minute Trader Trading System uses a tight stop loss with a risk to reward ratio of at least 1:1. The stop loss recommended is around 10 pips which means that the minimum target should be at least 10 pips. This is certainly achievable but you may want to aim for more than 10 pips so that a few losing trades do not wipe out your winners whilst one winning trade would then be able to make up for consecutive losses. The 1 minute timeframe can be very unpredictable but does give plenty of trading action if that is your preferred trading style and you have the time to do so. The developer states you can make 100 pips per day which I think is very high for a system using such a tight stop loss but if you carefully choose inly the high probability entries then it is possible. Also, it will work on any currency pair so you will have plenty of opportunity to bag these pips. It uses 2 custom made technical analysis indicators called “1 min power mountain” and “1 min power line”. According to the developer these indicators are 90-95% profitable but I would say that a lot of that depends on your speed of execution, money management and if you use your initiative when taking trades to filter out the bad ones. You can however use it as is with the provided entry and exit signals.
Forex 1 Minute Trader Trading System Summary
Overall this is a trading system for an acquired taste. It is only suitable if you are confident and have the time to scalp the 1 minute timeframe. It includes step by step instructions that are easy to follow and you can spend some time testing it on a demo account to see if it is suitable for you as it does come with a 60 day money back guarantee. Indicators and full support are also included. Just be careful manually trading on the 1 minute timeframe as there can be a lot of noise that will whipsaw you in and out of the market especially using such a tight stop loss.