In this post I will be reviewing the 500 Pips A Week Forex System. This is a manual forex trading that you can use to trade the forex market. Now, the name suggests you could make 500 pips a week which would be fantastic however is very unrealistic in my opinion. Even a fraction of that amount of pips from manual trading would be great. You have complete control over the amount of time you use to trade the 500 Pips A Week forex system and can place a few trades each week which only takes a couple of minutes. Simply check your charts for a few minutes at the start of the week and use the 500 Pips A Week forex system to identify valid entries, then set and forget them for the week. You can of course trade more frequently if you wish and if you have the time as this forex system is very flexible and can be used on any currency pair and time frame. You do not need to take every signal and can add your own filters to help trade decisions.
What is 500 Pips A Week?
The 500 Pips A Week strategy is a manual forex trading system. Manual trading is where a trader will make a decision on when to buy or sell an asset and then place the trade themselves via market or pending orders. The manual trader may also scan multiple markets first to actually find an opportunity before deciding to act. Manual trading involves human decision-making for entering and exiting trades, rather than relying on computers and algorithms. The 500 Pips A Week strategy does have a built-in algorithm that aims to find possible entry and exit points in the market for you, but in the end, it is you who decides whether to take a position, or now. I would always want to conduct my own additional market analysis to confirm all potential trading signals. I think it is important that you learn to understand when and why each signal occurred as this can help you to become a better forex trader in the long run.
500 Pips A Week System
The 500 Pips A Week Forex System tries to filter ranging (“choppy”) markets to ensure that you only enter trades in the direction of the overall trend – hence the popular trading term “the trend is your friend”. Users will also need good money management and trading discipline. As previously mentioned it is a very flexible manual forex trading system that can be used on short term time frames for you traders who like a lot of action and have the time to trade or it can be used on the longer term time frames from those who prefer to filter out some of the noise from the lower time frames and who may also have a day job alongside trading. It can also be used on any currency pair that you wish although I would be sticking to the major currency pairs such as the EURUSD & GBPUSD for the low spreads and. I would also be using an ECN forex broker for the very best possible trading conditions.
IC Markets are my top choice of forex broker for manual and automated trading strategies. This is because I find them to have tight spreads, low commission fees and plenty of liquidity which means that you can get your trades executed at some of the best forex market prices at all times. From my experience, they also provide excellent 24/7 customer support and have a good variety of convenient account funding options for you to choose from.
How to use the 500 Pips A Week System?
The 500 Pips A Week trading strategy is a forex indicator for the MetaTrader 4 (MT4) platform. MT4 indicators involve the mathematical calculation of the price, time or volume, to give you a leading or lagging trade signal. A trade signal is simply an indication of when to buy or sell a financial asset like a forex pair, stock, cryptocurrency or index. Forex indicators are one way of examining market data. By examining historical data, such as currency price, volume and market performance, indicators seek to predict how the market will behave in the future and which patterns are likely to be repeated. You can just install the 500 Pips A Week indicator into your MT4 platform and attach it to all of the charts that you wish to follow. It will then continuously scan them for possible trade setups using its built-in algorithm.
500 Pips A Week Summary
The 500 Pips A Week Forex System includes detailed instructions, screenshot examples of trades but does not have a money back guarantee. It can be used by any trader no matter what previous experience you have – if any at all. Provided you do not over trade, use good money management and do not let negative emotions get in your way, this may be a manual forex trading system for you. I would practice how to perfect the system on a demo trading account to begin with. This way you can build your confidence up and decide if the 500 Pips A Week strategy is suitable for your own preferred trading style, as everyone is different. When you start having some success, you may then want to consider switching over to a real trading account.
Overall, this that the 500 Pips A Week system is a very basic forex strategy, and I do not think it is much different from a trading strategy template that you could build yourself in the MetaTrader platform by simply using the default technical indicators and drawing objects that are included within the platform free of charge. If you want to learn more and get the 500 Pips A Week download you can visit the website using the link below. Whilst it is not the most expensive forex strategy that you will find, there is nothing that really makes it stand out from the type of forex system that you would find readily available in a trading forum.
500 Pips A Week Forex System
$37.95
Pros
- Any Currency Pair
- Any Timeframe
- Manual Trading System
- Flexible
- Easy To Use
- No Experience Required
- Detailed Instructions
- Full Support
- Money Back Guarantee
Cons
- MetaTrader 4 Only
- Quite Basic Forex Strategy
- Requires Some User Initiative
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
