In this post I will be reviewing the Forex Block Trader Strategy. This is an MetaTrader 4 (MT4) trading strategy that generates buy and sell signals on any currency pair and chart timeframe that you attach it to. The software has a built-in trading algorithm that does all of the complex market analysis for you so it can be a hands-off solution to an extent. The only thing is, you will need to react when there is a buy or sell signal generated and decide if you would like to take a position in the market or wait until the next opportunity comes along.
In this Forex Block Trader Strategy Review, I will be taking a closer look at the forex trading strategy that it implements along with the key features. Hopefully, this will help you to decide if this is a forex system that you would like to try on your own account. For me personally, I feel it is quite limited when used as a standalone system. I would certainly want to confirm all of the forex signals that it can produce with my own market analysis before entering a trade.
Forex Block Trader Strategy
To be fair, the Forex Block Trader Strategy does look to do something different compared to the thousands of forex trading strategies that I have reviewed over the years. It uses something called “calculation bias”. The developer was aiming to provide a forex strategy that was simple, clean and effective. Whilst it is easy to understand and identify the signals, I think it requires some initiative on behalf of the user in order for it to be able to reach its full potential.
The Forex Block Trader System looks to identify areas in which the market price may be reversing. This does mean that it can get into some big trends early, but also means that it can get caught out when the current trend is persisting. For that reason, you might want to combine it with other technical indicators such as the RSI and Stochastic to get extra confirmation on each signal that it produces.
The Forex Block Trader software can be used as standalone trading system, or it can be combined with different entries software, to serve as an additional confirmation tool. I would certainly not take the Forex Block Trader signals without first conducting my own technical analysis, fundamental analysis and price action analysis to make sure that agree with what the software is suggesting.
I think this can help to filter out some of the bad trades but can also help you to become a better forex trader in the long run as it requires you to have some understanding of the markets. If you are always relying on forex trading signals from somewhere else, you cannot improve your own knowledge of the markets. If a signal provider was to go, you would be needing to start from scratch. When you learn how to trade yourself, you can trade how you want and when you want.
One of the main features of the Forex Block Trader Strategy that I liked was the option of choosing between 3 different modes depending on your trading style. You can choose from conservative, balanced and aggressive modes. The main difference between each of the trading modes is how many signals you will receive.
The high-risk mode does have more signals but they are more sensitive to market noise and therefore, you may find more bad signals compared to the conservative mode. This is less frequent but the signals may have a higher probability. The balanced mode is somewhere in between.
In order to use the Forex Block Trader System, you will need a trading account with a forex broker. With so many forex brokers to choose from nowadays, it can seem very difficult to find a suitable option. If you are new to forex trading online and looking for some ideas, please feel free to browse my best forex brokers for some inspiration along the way.
Forex Block Trader Strategy Features
- Easy to understand user interface
- Buy and sell signal alerts
- Does not repaint (change after a signal)
- Identify potential market reversals before they happen
- Choice between different trading modes depending on your style
- Includes detailed instructions and full support
Forex Block Trader Strategy Summary
Overall, I think the Forex Block Trader Strategy implements a quite innovative trading strategy but I feel that it could benefit from including some additional market analysis in order to further filter the trading signals that it generates. You may well need to do your own market analysis to confirm each buy or sell trade before taking a position. Yes, you can use it straight out of the box if you wish but I personally do not feel this is a good idea as there are some limitations.
Not to mention, you will need to have a sensible money management strategy in place. I would be looking to try and cut losing trades short and letting the winners run. That way, one bad trade should not wipe out a consecutive run of winners. It is not uncommon to see the exact same forex strategy give a completely different set of results simply due to forex traders using different money management techniques.
If you are interested in downloading the Forex Block Trader Strategy, you could always start on a demo trading account to begin with. This could be a great way to familiarise yourself with how to trade with the Forex Block Trader and get the most out of it. You can get a free demo trading account from most forex brokers. Once you have built some confidence and have some success, you may then consider switching over to a real live account.
Forex Block Trader Strategy
€37
Pros
- Versatile Trading System
- Any Financial Instrument
- Any Chart Time Frame
- BUY/SELL Signals
- Easy To Understand Signals
- Detailed Instructions
- Free Updates
- Full Support
Cons
- MetaTrader 4 Only
- Takes Time To Learn How To Use
- Requires Some User Initiative
- No Verified Results
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.
