In this post I will be reviewing the Daily Pips Machine which is another manual forex trading system for the popular and free to download forex trading platform MetaTrader 4. Daily Pips Machine is suitable for any level of forex trader no matter how much experience you may have. It is a combination of custom built indicators that will visually display color coded entry and exit points in the market. It is very flexible and will suit around any hours you have to trade whether you are trading on the smaller, mid or longer term time frames. It can be used on any currency pair but I would stick with the major currency pairs such as the EURUSD and GBPUSD for the low spreads and an ECN forex broker.
Daily Pips Machine
The Daily Pips Machine customised indicator do a combination of filtering the trend and also identifying overbought and oversold market conditions. Now the good thing about using a complete system such as the Daily Pips Machine is that all of the analysis is done for you and you just follow the simple color coded entry signals. These signals can also be used for exiting traders. You can of course add your own extra technical, fundamental or price action analysis should you wish. The signals can generate alerts so you do not need to screen watch all day and it can monitor multiple currency charts all at once which saves you a lot of time.
Daily Pips Machine Summary
Overall, Daily Pips Machine is a manual forex trading system which may be useful if you are just starting out and looking to build confidence with your forex trading. It is relatively cheap and will require good money management and for you to control your emotions not letting fear or greed get in the way. I would always make a trading plan and stick to it! It comes with detailed instructions explaining the Daily Pips Machine system with screenshots, full support and a money back guarantee.