In this post I will be reviewing Eagle Master Forex System which has been developed to be used in the highly popular MetaTrader 4 (MT4) platform which is free to download from most online forex brokers. Hopefully, this Eagle Master Forex System Review will help you to decide if this is a forex trading strategy that you would like to try out. I think that it has some potential but does require the user to take some initiative. This means that you will need to confirm each trading signal with your own market analysis to make sure that you are happy to take the trade. If not, you can always wait for the next opportunity to come along.
What is the Eagle Master Forex System?
The Eagle Master Forex System is a manual forex trading system that can be used on any currency pair and any chart time frame. I prefer to trade on major currency pairs including the EURUSD and GBPUSD as I usually find that they have plenty of liquidity and some of the tightest spreads available, provided I am using a good ECN forex broker.
I also find that the higher chart time frames such as the 1-hour and above can make manual trading less stressful and allow me to catch some big trends. Sometimes lower time frame can be quite noisy and lead to “choppy” looking charts which make it difficult to pin point trade entry and exit points.
The Eagle Master Forex System gives colour coded signals that specify potential buy and sell signals. There are colour coded candlesticks with green showing possible buy trades and red for sell trads.
The buy or sell signals is also clarified with a message on the chart along with arrows. You can trade the system as is or you can use it in conjunction with your own trading strategy.
The system can send you alerts via platform pop-ups, SMS and email. This is useful as it means you do not need to constantly watch the charts and can monitor multiple FX currency pairs simultaneously.
Whilst the Eagle Master Forex System can pick out some valid signals, I would personally not take every single one without verifying the entry for myself and ensuring that it will give a favourable risk to reward ratio.
Money management is very important as the best trading systems in the world could fail if there is poor risk to reward ratio. Nobody wants all of their winning trades to be wiped out by one loser.
That is why I would consider taking trading signals from the Eagle Master Forex System that give at least a 1:3 risk to reward ratio where a winning trade is 3 times the size of a losing one.
To be fair, the Eagle Master Forex System is a very versatile forex strategy that can be used on any trading instrument and chart timeframe. You can use it for scalping, day trading and swing trading. It does require the user to take initiative in terms of confirming all signals with their own market analysis if they want to get the most out of what this forex software can offer. You will also need to have good money management in place with a sensible risk to reward ratio. No matter how good a forex system is, they can be let down by poor money management.
How to use the Eagle Master Forex System?
The Eagle Master Forex System has been developed to run in the MT4 platform. It comes as a trading template along with built-in indicators that you can apply to your chosen chart symbols and timeframes. You can use the default settings or adjust them according to your own needs. I would certainly practice on a forex demo account to begin with and only use this manual forex strategy as supplementary indicators to my own market analysis.
MT4 is used by millions of traders around the world for both automated and manual forex trading. It is popular primarily due to its user-friendly interface and abundance of built in features. You will also find that a large majority of forex software such as the Eagle Master Forex System have been designed for the MT4 platform.
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.
Eagle Master Forex System Summary
Overall, I deem the Eagle Master Forex System to have potential provided the user is filtering some of the trades and conducting their own analysis before taking each signal.
It is extremely flexible as it can be used for any short- or long-term trading style whilst it can run on any trading instrument and chart time frame.
Furthermore, the signals are clear, colour coded and even include alerts. I do perhaps feel as though you may be able to create a similar manual trading system by using the indicators already built into MT4 although having them displayed in such a user-friendly manner is also useful as are the alerts.
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 Eagle Master Forex System download you can visit the website by using the link below.
The Eagle Master Forex System includes setup instructions, examples of trades, full support and a money back guarantee.
Eagle Master Forex System
$97
Pros
- Manual Trading System
- Signal Alerts
- Any FX Currency Pair
- Any Chart Time Frame
- Full Support
- Detailed Instructions
- Money Back Guarantee
Cons
- MetaTrader 4 Only
- Quite Basic Forex Strategy
- Takes Time To Learn How To Use
- Requires Some User Initiative
- Not Very Innovative
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.
