In this post I will be reviewing the Forex Alozard Strategy which is a manual forex trading system. It runs in the MetaTrader 4 (MT4) trading platform and includes technical indicators along with a trading template.
The Forex Alozard Strategy can be used by traders of all experience levels, you just need an MT4 trading account and the MT4 platform which you can download for free from most online forex brokers.
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.
MT4 is one of the most popular trading platforms which is used by millions of forex traders from all over the globe. You may wish to practice the strategy on a demo trading account until you become familiar with it and start producing consistent results.
What is the Forex Alozard Strategy?
The Forex Alozard Strategy aims to spot trend early and filter out the noise from ranging markets. It can be used on any FX currency pair and on any chart time frame.
I tend to find that the long-term time frames of the 1 hour and above produce some of the more obvious mid to long-term trend. The lower time frames can be quite choppy at times.
That being said, the system can be used for scalping, day trading and swing trading. It is very easy to use with clear colour coded signals.
You can also set the Forex Alozard Strategy to send you alert notifications when it finds trading signals via SMS, email and platform pop-ups. The advantage of this is that it can save you lots of time from needing to watch the charts for trading signals. It also means that you can simultaneously follow multiple charts and increase the potential of there being signals.
You can take the signals as they are or add your own additional chart analysis to further filter the signals. I would not want to take any trading signal without doing my own market analysis as I think that it is very important to know when and how a position is taken. This can help you improve your knowledge of the markets and trading skills in the long run.
How does the Forex Alozard Strategy work?
The Forex Alozard system is primarily a trend trading strategy. It looks to find emerging trends and catch big moves, but I feel like it does require plenty of initiative on behalf of the user. You will need to filter signals according to your own analysis and as with any forex trading strategy, there will be both winning and losing trades.
As you probably already know, there are tons of different indicators that you can put on your charts to ‘help’ you identify a trending market and trade with it. Many traders spend countless hours and dollars on trend-following trading systems or on indicators that just end up confusing them and making the process of trend discovery a lot more difficult than it needs to be. The Forex Alozard strategy aims to help you with spotting trends but I do not think it does anything that you cannot do with some basic MT4 indicators such as the moving average.
The Main Types of Trading Trends are as follows:
Uptrend
An uptrend, or bullish trend, describes a price movement where the overall direction is an upward or positive one. It generally features continuous and regular peaks and troughs that are higher than the previous ones.
Downtrend
Also known as a downward, or bearish trend, it refers to a price action that moves lower as it fluctuates over time. Contrasting with uptrends, it is characterised by peaks and troughs that are lower than the previous ones.
Horizontal trend
Otherwise called a flat or sideways trend, it is where the price moves without any clear path of direction – either upwards or downwards. These trends are usually chaotic in nature, and tend to occur when the forces of supply and demand are almost equal.
How to use the Forex Alozard Strategy?
The Forex Alozard 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.
Forex Alozard Strategy Summary
I think that the Forex Alozard Strategy is very flexible but requires that the user implements sound money management principles and has good trading discipline.
I would personally be selective with the signals that I take and add my own analysis for verification. I would also only take trades that offer a favourable risk to reward ratio.
I think it is important you learn why each Forex Alozard signal is generated, rather than taking them without having a good look at what is happening in the market to verify each trade. That way, you can learn about all of the different trading indicators and combine those which you like the best into your very own bespoke trading system that is catered towards your own needs.
The Forex Alozard Strategy includes instructions, support and free updates.
Overall, Forex Alozard is a 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 Forex Alozard Strategy download you can visit the website by using the link below.
Forex Alozard Strategy
$37
Pros
- Manual Trading System
- Signal Alerts
- Trend Trading Strategy
- Versatile Forex Strategy
- Any Chart Time Frame
- Any Trading Instrument
- Detailed Instructions
- Full Support
- Free Updates
Cons
- Quite Basic Forex Strategy
- Not Very Innovative
- MetaTrader 4 Only
- 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.
