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.
Forex Triple Hit is another manual forex trading system for the MT4 platform that has been created by Rita Lasker. She is quite well known in the forex industry for selling a range of forex products, some of which I have previously reviewed, including Forex Heartbeat. I always wonder why ..Read More
The Forex Decimus Trading System is a manual forex strategy that can be used in the MetaTrader 4 (MT4) platform which is freely available to download from the majority of forex brokers. You load the Forex Decimus template onto your charts within the platform, and it will display a combination ..Read More
In this post I will be reviewing the Forex Crystal Ball manual forex trading system developed by Vladimir Ribakov. It runs in the free to download and very popular MetaTrader 4 trading platform. Forex Crystal Ball is a complete manual forex trading system that uses MT4 customised indicators to give ..Read More
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