In this post I will be reviewing the Dynamic Trend Trader manual forex trading system that has been developed to be traded on charts in the popular MetaTrader 4 (MT4) trading platform which is used by millions of forex traders all over the globe and free to download from most online forex brokers.
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.
I prefer to use ECN forex brokers as I find they can save me on trading costs in the long run as they tend to have some of the tightest spreads, lowest commission charges and reliable execution speeds.
Dynamic Trend Trader System
Dynamic Trend Trader is a complete manual forex trading that combines multiple technical indicators into one trading strategy template that can be used on any currency pair and any chart time frames.
I would usually always manually trade on major currency pairs such as the EURUSD and GBPUSD as I find that they tend to have some of the lowest spreads along with plenty of liquidity. This helps me to save on trading costs in the mid to long term.
Furthermore, I would personally use a manual trading system such as the Dynamic Trend Trader on the 1 hour time frame charts and above as I feel that these tend to filter out some noise that can occur in lower time frames, thus giving the potential to catch some good moves.
The Dynamic Trend Trader can be used by traders of any experience level due to its ease of use. It gives users multiple buy/sell signals along with clear exits. You can use it for scalping, day trading or swing trading.
When the trend line is blue the systems anticipates that the trend is headed up, when its red the trend is headed down according to the system, when the trend line is flat it may indicate sideways conditions.
The potential trend turns can be seen by the change in colour. The system suggests to enter either when the Trend Line indicator changes colour indicating the possible start of a trend, OR wait for a retracement of the price to hit the trend line.
The Dynamic Trend Trader has clearly identifiable Dynamic (yellow dot) exits that can be turned on or off in addition to stop loss zones as indicated by the blue dots under the blue trendline in an uptrend, and red dots above the red trend line in a down trend.
Additionally, you can simply use your own take profit targets and stop loss levels based on their own risk/reward appetite, for even more control.
One of the most important aspects could be the money management incorporated when using the Dynamic Trend Trader system. I would certainly try to ensure that winning trades are greater than losing trades thus giving a positive risk to reward ratio. Nobody surely wants a single losing trade to wipe out multiple winners. It is also important to have your trading discipline in check with patience and discipline.
You do not need to take every single signal generated by the Dynamic Trend Trader. Instead, you may wish to add your own additional technical, fundamental, price action and sentiment analysis to further filter trades. The system can alert you when it finds trading signals which prevent you from having to stare at your screen all day long. Signal alerts can be sent via platform pop-ups, SMS and email.
Dynamic Trend Trader Summary
Overall, the Dynamic Trend Trader system is very flexible and easy to use. It can cater to the needs of different traders, no matter how much time you have each day to dedicate to trading or your preferred currency pairs and time frames.
As a manual trading system, it will require that you have good money management and trading psychology to get the best out of the strategy.
I do personally feel that this system could be duplicated by using a combination of the default MT4 indicators but can certainly see the benefit of having them displayed in such an easy to interpret and user-friendly way.
The Dynamic Trend Trader system includes instructions, support, updates and a money back guarantee.