In this post I will be reviewing the Forex Joustar System. This is a forex strategy that comes as unique trading template for the popular forex trading platform, MetaTrader 4 (MT4). If you don’t already have the MT4 platform, you can download it free of charge from most forex brokers. Just keep in mind that you will need the MT4 desktop version to use the Forex Joustar Strategy.
One you have the MT4 platform, you can load the Forex Joustar trading template on the currency pair charts and timeframes that you wish to trade. The built-in technical indicators will then automatically scan the forex market for buy and sell signals. When there is a Forex Joustar Signal, the software shows it clearly on the chart with colour coded indicators and it can even send you a signal alert via SMS, email or a simple platform pop-up.
If you are thinking this sounds really easy and can be a solution for you if you do not have the time to dedicate to learn how to trade forex yourself, I would suggest you take a step back and consider both the pros and cons if using the Forex Joustar System or any other forex strategy for that matter.
They are certainly not guaranteed to gives results and will require significant user input from my perspective. In this Forex Joustar Review, I will cover the reasons why along with more about the strategies and features of this particular forex trading strategy.
Forex Joustar Strategy
The Forex Joustar Strategy includes an easy to understand trading template which show clear actionable forex trading signals on your charts. You can take them as they are, or conduct your own additional market analysis to confirm each trade.
I would not be taking the blindly without first doing my own in-depth chart analysis to make sure that I feel it is a suitable trade. Otherwise, I feel like the Forex Joustar System will generate too many false signals without additional confirmation.
I found the Forex Joustar System to be very versatile. This is because you can use it on any currency pair chart or timeframe that you wish. You can even use it on other financial instruments such as stocks, commodities, indices, precious metals, energies and cryptocurrencies.
You do not need to watch charts all day as the Forex Joustar indicators can send you an alert when there are any trading signals on the symbols that you are following. This can save time but you will still need to act quickly on the signals when deciding what your next move is going to be.
I would be looking to trade major currency pairs such as the EUR/USD as they tend to have lots of volume and liquidity which means there can be some good moves to catch. I also find it more productive to focus on one or two currency pairs rather than spreading yourself to thinly. This way, you can sort of get used to how a particular currency pair moves.
If you want to know how good or bad the Forex Joustar Signals will perform, I am afraid that there is no way to say as there are just way too many variables to consider. It can depend on the broker conditions, current market events and perhaps most importantly, the money management strategy of each user. A good forex trading system can become a bad one with poor money management.
I would be looking to cut my losing trades short to try and void substantial drawdowns. I may want to try and protect a winning trade with a break even point and then trail the remainder of the position with a trailing stop loss to try and maximise the move.
In terms of timeframes, you can use any depending on what your preferred forex trading strategy is. As it is so versatile, the Forex Joustar Method can be used for scalping forex on the lower chart timeframes, day trading and swing trading. I prefer the 1-hour charts and above as I find they can do a better job of filtering some of the noise out from the lower chart timeframes.
Forex Joustar Features
- Semi-automated forex trading strategy
- Buy and sell trading signals on your chart
- Uses a combination of technical indicators
- Get signal alert notifications on mobile
- Trade on any currency pair or timeframe
- Can be used on any MT4 forex broker
- Includes instructions, support and updates
Forex Joustar Summary
Overall, I think there is some potential with the Forex Joustar System but that can be said with any forex trading strategy really. This is because a lot is going to depend on factors aside from the system such as the user’s money management, trading discipline/psychology and trader emotions.
These are very important factors that I feel are too often overlooked by forex traders who are just looking for a quick fix. Trading forex successfully is hard and takes years to master. I think you could use the Forex Joustar is a guide but should certainly not enter a position without first confirming it with your own trading strategy.
I would say that whilst it can be nice for beginners to have everything well packaged and explained clearly, the Forex Joustar Trading System is not that different from something that you could create yourself by using the default MT4 indicators.
This would be completely free to do and you could always start with the Forex Joustar strategy or your own forex system on a demo account to begin with and see how things go. If you start to have some success over the long term and build your confidence, then you may consider making the switch over to a real account.
The Forex Joustar includes plenty of helpful trade examples, an easy to follow step by step user guide, trading template, custom indicators, free updated and full support from the developer. It also comes with a free forex tool that will help identify the ranges of the current day and more.
- BUY/SELL Signals
- Set Signal Alert Notifications
- Combination of Technical Analysis
- Versatile Forex System
- Colour Coded Indicators
- Easy To Use
- Any Currency Pair
- Any Chart Time Frame
- Detailed Instructions
- Free Bonus Forex Tool
- MetaTrader 4 Only
- Requires Some User Initiative
- No Verified Results
- Not Very Innovative
- Takes Time To Learn How To Use
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.