Forex trading systems are trading templates that you load onto your charts so that they can analyse currency pairs for entry and exit signals. They usually include a combination of technical indicators which must agree for a signal to be generated. Some systems will also suggest price levels to place the stop loss and take profit.
A forex trading system is a manual forex trading strategy that you can use to assist you with your trading. They are usually colour coded and thus can be easy to interpret, making them suitable for traders of all experience levels.
Trading systems can be used standalone or as part of another system. I prefer to filter the trading signals generated by them by using my own technical analysis, fundamental analysis, sentimental analysis and price action analysis.
You can run the trading system on multiple currency pairs and chart time frames whilst many can alert you to trading signals via platform pop-up alerts, SMS or email. This enables you to simultaneously monitor multiple charts without having to sit and stare at charts all day.
Whilst some forex trading systems can produce good trading opportunities, traders need to have good forex money management principles in place, a trading plan and strict trading discipline. I would also always practice on a demo trading account until I become familiar with a forex trading system and continuously make profit with it. Only then would I even consider trading it on a real live account.
In my forex trading system reviews I give you my honest opinion, only you can decide which is the best forex trading system for you. It is important to use a system that makes you feel comfortable.
In this post I will be reviewing the Wizard Forex System for the MetaTrader 4 trading platform which is free to download from most forex brokers worldwide. The Wizard Forex System is a manual forex trading system and despite sounding like something from Harry Potter or The Lord Of The ..Read More
In this post I will be reviewing the X Scalper manual forex scalping system by Karl Dittmann which has been developed for use in the MetaTrader 4 trading platform which is widely provided worldwide by most forex brokers. The MT4 trading platform is free to download and you can create ..Read More
Here we will review the Pipbreaker indicator which has been developed for the ever-popular MetaTrader 4 and MetaTrader 5 platforms. If you haven’t already, you can download the MetaTrader platforms free of charge from a forex broker. It is well known as one of the most user-friendly platforms. If you ..Read More
In this post I will be reviewing the Infinity Scalper manual forex trading system developed to be used in the free to download MetaTrader 4 trading platform. As the name suggests, Infinity Scalper is a forex scalping system that generates optional buy and sell signals for traders to place trades ..Read More
In this post I will be reviewing the manual forex trading system Set Forget Pattern Profit which has been developed to be used to trade currency pairs in the popular and widely used MetaTrader 4 trading platform which is free to download from almost all forex brokers worldwide. You can ..Read More
In this post I will be reviewing the Rapid Trend Gainer manual forex trading system for use in the free to download MetaTrader 4 trading platform. Rapid Trend Gainer is a buy/sell forex indicator that will give you forex trading signals. This is a complete manual trading system that is ..Read More
In this post I will be reviewing the Daily Pips Machine which is another manual forex trading system for the popular and free to download forex trading platform MetaTrader 4. Daily Pips Machine is suitable for any level of forex trader no matter how much experience you may have. It ..Read More
In this post I will be reviewing the Morning Pips manual forex trading system that is for trading before breakfast! Now this is a great idea and wherever you are in the world the time you eat breakfast will differentiate but it doesn’t matter as this manual forex trading system ..Read More
In this post I will be reviewing the 500 Pips A Week Forex System. This is a manual forex trading that you can use to trade the forex market. Now, the name suggests you could make 500 pips a week which would be fantastic however is very unrealistic in my ..Read More
In this post I will be reviewing Karl Dittmanns Super Profit Scalper manual forex trading system. This is another manual trading system developed and made commercially available from Karl Dittman which is focused on providing you with easy to follow trading entry and exit signals. It runs as an aesthetically ..Read More