In this post I will be reviewing the Forex Combo System. This is a 100% fully automated forex trading system that runs in the free MetaTrader 4 trading platform which you can download from most forex brokers to run your forex robots. This particular expert advisor contains 4 individual trading systems built into one – hence the name Forex Combo System. It also includes an advanced news filter to try and avoid trading around potentially risky news releases which cause uncertain market movements. You will often find trading robots that are focused on scalping, trend trading or reversal trading. Therefore, it is good to see a forex robot that combines all of these strategies into one easy to use automated trading system. However, that does not guarantee good results as there are so many other factors to consider such as the broker and market conditions. In this Forex Combo System review, we will take a closer look at the strategy that the EA uses, any backtests and most importantly, real verified results provided by the developer. Read on to discover if the Forex Combo EA is something that you would like to consider using on your own forex account.
Forex Combo System Trading Strategy
The Forex Combo System automatically analyses the market in-depth with built in technical analysis indicators to identify patterns that form the 4 built in trading strategies. The 4 strategies implemented by the robot are scalping, trend trading, market corrections and range detection. This combination helps this forex robot to adapt to different market conditions which is a unique innovation that helps set it apart from many other forex robots that can be quite rigid and only work well in the ideal market scenario. It also can save the user lots of time from needing to learn different strategies and how to implement them.
The Forex Combo System algorithm will continuously scan the charts that you attach it to for possible trading signals. When the algorithm detects a possible trading signal, it can place and manage positions on your behalf. There are input settings that you can adjust according to your own preferences or you can use the out of the box default settings that have been provided by the developer. Either way, just make sure you adjust the Forex Combo robot risk or lot size to a level that you feel comfortable with.
You can even set the robot to semi-automated mode if you prefer to maintain some control over your trading. This way, the Forex Combo System will send you an alert when there is a trading signal and you can decide if you would like to take the position and place your own stop loss and take profit levels. Otherwise, you can wait for the next trading signal to appear and take it from there.
The Forex Combo System EA is very versatile overall and can be used for all types of trading strategies on any currency pair or chart timeframe that you wish. Just make sure that you do plenty of testing and optimise setting in a way that works best for your trading style because everyone is different.
Smart Strategy #1: Scalping
The scalping aspect of the robot looks to only take high probability trades with a scalping strategy that requires small spreads. I think this strategy of the Forex Combo EA is very broker sensitive and you may find results are significantly different between brokers due to factors such as spread, commission and slippage. For optimal scalping conditions, I would consider an ECN broker such as IC Markets. This is because they have deep liquidity pools which can help ensure tight spreads and quick trade execution speeds which is very important for any forex scalping robot.
Smart Strategy #2: Trend-Detection
Currency markets can offer clear, easily tracked data that can be analysed in real-time. This data is visualized as trends that can be used for accurate market predictions. There are many successful traders use sophisticated trend detection strategies to enter and exit the market. The Forex Combo System helps you profit by watching for tell-tale market signs that signal sustained and big trends may be forming.
Smart Strategy #3: Market Corrections
The Forex Combo System attempts to capture deep market corrections at the exact instant the current trends are exhausted. The key is to be able to predict when the market will reverse. This is subtle science requiring thousands of lightning fast calculations which are implemented within the Forex Combo robot.
Smart Strategy #4: Range Detection
There are plenty of entry opportunities when the Forex market is trending up or down. However, 50% of all trading activity happens when the market is in a non-trending state. The Forex Combo System uses a powerful algorithm to detect a non-trending market and adjusts its trade detection accordingly.
Forex Combo System Back Testing
Back tests on the Forex Combo System website show how each individual strategy performed over a long period of time. They also show how all the strategies performed combined on major currency pairs in the EURUSD and GBPUSD. I like these pairs because I find they can have some of the lowest spreads and good liquidity which leads to some big market movements.
However, I am disappointed that the Forex Combo System backtests only have 90% modelling quality. This means that they have not taken into consideration variable spreads and commission fees, two huge factors that can have a significant impact on the Forex Combo System results.
It would have been useful for potential users to see 99% modelling quality back tests using Birts TDS in the MT4 strategy tester. This could have given an idea of the historical performance but of course would be no guarantee of future performance. For the upmost accuracy, backtests can be conducted using real tick data, variable spreads and including commission, swaps and slippage.
Forex Combo System Live Results
The developers have shared some verified Forex Combo System results which show you how the EA has been performing recently. They do not quite live up to the backtests but that is expected, especially when you consider the 90% modelling quality that I mentioned above along with the broker sensitivity of this forex robot. It does not have the best but also not the worst results that I have seen although I feel there are better options out there, including the Forex Flex EA. To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
Forex Combo System Summary
Overall, I like how the Forex Combo System EA combines multiple trading strategies into one comprehensive and fully customisable automated trading system. I also appreciate how the developer has provided some back tests but they are not the best quality and the verified results have stagnated for a few years. The Forex Combo System comes with an easy to understand instruction manual for a quick setup thus making it suitable for beginner forex traders new to automated forex trading systems. You get access to the members area, dedicated 24/7 support, life time updates and a no questions asked money back guarantee. If you are curious and want to give it a try, you could always start on a demo trading account to begin with and see if it lives up to expectations. Just make sure that you keep in mind results between demo and live accounts can vary greatly due to numerous factors such as spreads and slippage.
Forex Combo System
$297
Pros
- Multiple Currency Pairs
- Combined Trading Strategies
- Customisable Settings
- 60 Day Money Back Guarantee
- Full Support
- Lifetime Updates
- Detailed Instructions
- Verified Results Provided
- Backtests Available
Cons
- Limited Backtest Quality
- MetaTrader 4 Only
- Requires User Input
- Broker Sensitive
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.
