In this post I will review the Alphon-Omega forex trading system that has been designed to be used in the ever popular MetaTrader 4 (MT4) platform which you can download for free from most online forex brokers. You can even get a free demo trading account if you wish to practice trading with the Alphon-Omega system until you become confident and produce consistent results.
In order to use this forex system, you will need a trading account with a forex broker. With so many brokers to choose from, I have conveniently compiled a list of my best forex brokers to help you quickly and easily choose a broker that meets your needs.
This particular forex system can be used by both beginner and advanced traders. It is very user friendly and comes with easy to follow setup instructions and trade examples for clarity on how to use it.
Alphon-Omega Trading Strategy
The Alphon-Omega forex system is a collection of trading tools that can form part of a manual forex trading strategy. There are technical indicators included for trend trading, day trading, swing trading, forex scalping, displaying Fibonacci levels and more. The indicators can be combined to create your own unique trading system and they can also send you alerts when they find potential trading signals.
Amongst the technical indicators included with the Alphon-Omega forex system are the following:
- Channel indicator
- Oscillator indicator
- Cross over histogram indicator
There is a trader’s dashboard and colour coded template so that the trading system is easy to interpret. It can therefore be used by beginner and experienced traders. Most experts would suggest to practice trading on a demo account to begin with until you become familiar with how a trading system works.
The Alphon-Omega forex system can be used on any trading instrument and chart time frames. I personally prefer the major currency pairs such as the EURUSD and GBPUSD due to the liquidity they usually have can mean tight spreads and decent execution speeds. I also like the high chart time frames as I tend to find there is less market noise and signals can be more reliable. Of course, one of the most important aspects of any trading system will be the money management. I would look for trades that give a favourable risk to reward ratio and ensure my trading emotions are in check.
Overall, Alphon-Omega seems like some basic trading indicators that are freely available online that have been repackaged and presented as a forex tool box. I could probably create a similar trading strategy template using the default technical indicators built-in the MetaTrader platforms. That being said, it is easy to use and can generate signal alerts. You do have to use your own initiative and decide on what to do with each signal. I would certainly conduct my own technical, fundamental and price action analysis before taking any trade position.
The Alphon-Omega system is flexible to be used on any instrument and chart time frame. It comes with trade examples, detailed setup instructions and full support.
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.