In this post I will be reviewing the Forex Mastery Strategy which is a manual forex trading system that has been developed to run in the MetaTrader 4 (MT4) platform. You simply load the Forex Mastery Strategy template onto your charts and the indicators will analyse the markets for possible buy and sell signals. You can choose to take each signal or confirm them with your own market analysis. Whilst having a forex strategy that does all of the market analysis for you might sound tempting, there are some key advantages and disadvantages to be aware of.
In this Forex Mastery Strategy Review, we will take a closer look at the trading strategy that it implements along with the main features. This will hopefully help you to decide if this is a forex strategy that can help you to achieve your own individual goals.
Forex Mastery Strategy
The Forex Mastery Strategy has advanced algorithms to calculate changes in the price movement and generates signals directly on your MT4 platform. It is simple to use for traders of all experience levels. Just keep in mind, this is not a magic trading system, it will require some user input.
I like how the Forex Mastery Strategy combines 3 forms of analysis to try and automatically determine the best entry points. The average trend calculation and daily range indicator will show the current market direction and expected future movements.
The Forex Mastery Strategy comes with a handy trade assistant which can help you with managing trades in a convenient manner. This includes auto lot size calculation and quick placement of orders via some simple buttons on the user-friendly interface.
When a signal appears, it is clearly visible on your charts with colour coded indicators. From there, you can decide if you would like to take a position or wait for the next signal to come along. If you cannot be at your computer all day long, then you can have the Forex Mastery Strategy signals sent to you via SMS or email. This means it is possible to follow all of your favourite financial instruments and chart timeframes for trading signals from anywhere at any time.
Personally, I would not be taking the Forex Mastery Strategy signals without first conducting my own chart analysis to confirm each buy and sell signal. I think it is very important that you understand why every trade is taken. If the signals that the software generates are not filtered, I feel there may be too many false signals.
Forex Mastery Strategy Features
- Automatically scans charts for buy and sell signals
- Can be used for entry and exit points
- Trading signal alert notificaitons
- Trading dashboard for convenient order management
- Easy to use with colour coded technical indicators
- Runs in the MT4 trading platform
- Can be used on any trading instrument or chart timeframe
- Can be used with any forex trading broker
Forex Mastery Strategy Summary
Overall, I think the Forex Mastery Strategy certainly has some potential when used correctly. It is very user-friendly with clear buy/sell signals and a convenient trader’s dashboard to make placing and managing trades a breeze. This trading system is also very versatile as it can be used on any financial instrument and chart timeframe.
The automated alert feature is great as you can get signals without being at your computer, keeping in mind the software needs to be up and running on the MT4 platform in order to analyse the forex market for trading signals.
However, despite the many positive, there are a few flaws to be aware of. Mainly, this is not a set and forget type strategy. As it is so diverse, this does mean that it will require the user to do some of their own market analysis if they want to get the most out of the signals that it can produce. Otherwise, I feel that there will be too many false signals. I would look to only pick the signals that I feel have the highest probability based on my own market analysis.
You will also need to have very good money management in place. I have seen the exact same forex trading system give a completely different set of results simply because users have different stop loss and take profit levels. I would always look to use a favourable risk to reward ratio where my winning trades outweigh any losing trades. Of course, every forex traders is different, so you will need a forex trading plan that caters to your own trading style.
The Forex Mastery Strategy comes with a cool free bonus in the Pattern Finder Pro tool. This handy MT4 trading software can recognize an impressive 40+ candlestick patterns to help track market trends and reversals. You can choose from bullish and bearish patterns, depending on the direction you are looking to trade.
The Patter Finder Pro can be used on every trading instrument available in your MT4 platform. You can trade forex, commodities, stocks, indices and cryptocurrencies. One of the main features of the Pattern Finder Pro that I like is that it can send you alerts when it discovers a candlestick pattern based on price action analysis so you will not need to be fixed to your screen all day long, unless you want to of course!
Putting everything together, whilst it is nicely packaged and has a unique trading dashboard along with a good free bonus, I do not think the core functionality of the implemented trading strategy is that different to something that you could put together in MT4 using the free indicators that the platform comes with.
If you do want to give it a try, you could always start on a forex demo account to begin with and see how things go. This can be a great way to practice your trading skills and build some confidence before switching over to a live account. The Forex Mastery Strategy also includes detailed setup instructions, full support and free updates.
Forex Mastery Strategy
$37
Pros
- Clear Buy/Sell Signals
- Trading Dashboard
- Combination of Market Analysis
- Easy To Use
- Any Trading Instrument
- Any Chart Time Frame
- Any Forex Broker
- Detailed Instructions
- Full Support
- Free Updates
Cons
- MetaTrader 4 Only
- Requires Some User Initiative
- Not Very Innovative
- Takes Time To Learn How To Use
- 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.
