In this post I will be reviewing the Forex Stinger Strategy. This is a manual forex trading system that has been developed to run in the ever popular MetaTrader 4 (MT4) platform. This particular system is very easy to use which makes it accessible to traders of all skill levels. The instructions provided explain clearly how to setup the system in your MT4 platform and give you a step by step guide on how to read the signals the system provides.
Hopefully, this Forex Stinger Strategy Review will help you to decide if this is a forex trading strategy that you would like to try out. I think that it has some potential but does require the user to take some initiative. This means that you will need to confirm each trading signal with your own market analysis to make sure that you are happy to take the trade. If not, you can always wait for the next opportunity to come along.
What is the Forex Stinger Strategy?
The Forex Stinger Strategy gives trading signals including where to open and close trade positions. You can choose to take the trading signals as they are or to include your own additional chart analysis to filter them further.
The main principle of this strategy is to try and identify where trends start and thus to catch big trend movements from the beginning. As they say, “the trend is your friend”!
The Forex Stinger Strategy can be used on any forex currency pair or other CFD trading instruments available from your trading broker which can include stocks, cryptos, commodities, precious metals, energies, etc.
You can also use this system on any chart time frame from 1 minute to 1 month. Therefore, it can be used for scalping, day trading and swing trading.
The Forex Stinger Strategy has multiple built-in alert systems that promptly notify you of new trading opportunities within seconds. Each alert gives you the Currency Pair, Time frame, Price and the signal which was generated on.
You can set alerts to be sent via SMS, email and/or platform pop-ups.
Trend Trading Strategy
Trend trading is the process of analysing the directional momentum of a market and finding a way to participate in the move. The key to the strategy is the fact that once a market starts to move in a certain direction, other market participants will also join in. This is known as ‘herd mentality.’
Trends can develop on any time frame with traders using short term trend trading strategies and investors using longer term trend strategies. Most trend traders will have a longer holding period based on the time frame they are using as the key is to try and capitalise on the majority of the trend. Other traders such as momentum traders will typically trade in and out of a trend, rather than have one position to capitalise on the whole trend.
How to use the Forex Stinger Strategy?
The Forex Stinger Strategy is a trend-based system that uses a special algorithm that identifies every aspect of a trend from beginning to end and alerts you to trades with the highest probability of success.
Most importantly it also helps you avoid bad trades by filtering out flat movements, when there is no noticeable trend. This will help you tremendously because many traders screw this up by trading into a flat market where they have no clue if it’s going to go up or down.
One of the positive aspects of the Forex Stinger Strategy is that there are so many different ways in which it can be used. There is no one size fits all as every trader has a different trading style and risk preference. You can use the Forex Stinger Strategy to scalp, day trade, swing trade or even hold positions for the long term. It can be used on any financial instrument that your trading broker provides and can be applied to any chart timeframe. This makes it a very versatile forex strategy for traders of all experience levels.
However, I do think that the Forex Stinger Strategy needs the user to take some initiative. Whilst you can use it straight out of the box as is, I think you would need to confirm each signal that it produces with your own form of market analysis. If you are expecting to buy and sell when it says so and that will generate lots of wins, I am afraid you will be disappointed. You need to learn how to trade in a way that works best for you and make sure that you implement sensible money management which can help you to achieve your own individual trading goals because every trader is different.
In order to use this forex system, you will need a trading account with a forex broker. 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.
Forex Stinger Strategy Summary
Overall, I see the potential with the Forex Stinger Strategy provided there is some additional analysis to confirm the signals and also good money management in place.
I would personally only take the trades that show a positive risk to reward ratio, ideally of at least 1:3 where a winning trade would be 3 times greater than that of a losing trade. Nothing is more frustrating than 1 losing trade cancelling out consecutive winning trades.
I would look to cut losing trades short and let winning trades run whilst locking in and trailing profits along the way.
The Forex Stinger Strategy includes instructions, full support and free updates.
Forex Stinger Strategy
$37
Pros
- Manual Trading System
- Technical Indicators
- Trend Trading Strategy
- Signal Alerts
- Any Chart Time Frame
- Any Trading Instrument
- Detailed Instructions
- Full Support
- Free Updates
Cons
- MetaTrader 4 Only
- Quite Basic Forex Strategy
- Takes Time To Learn How To Use
- Not Very Innovative
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.
