Do you know you can still build your own MT4 trading strategy without downloading an external indicator or system? MetaTrader 4 platforms have useful built-in indicators for determining market trends, momentums, and dynamic/fixed support/resistance zones. A perfect combination of such indicators can create a consistent trading strategy. This guide explains ..Read More
Category: Forex Systems
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.
Volatility Contraction Pattern
The Volatility Contraction Pattern (VCP) is a well-known trading pattern that Market Wizard, Mark Minervini, identified and examined. The pattern’s assumption is that equities in long-term uptrends will pause and consolidate as some holders exit their positions and the stock is re-acquired by market buyers. The chart pattern can be ..Read More
Andrew Forex Trading System
Trading systems help traders assess market trends and potential trading opportunities. Each system has a unique strategy comprising multiple indicators to generate useful market insights. This guide introduces you to the Andrew Forex Trading System, a free source MT4 system that can assist you in determining precise trend-following trade signals. ..Read More
Opening Range Breakout Strategy
Because of the importance of the open and the possibility of non-random price movement, the open, and particularly the opening range, provides us with numerous opportunities to develop trading methods. Trading the opening range simplifies things because it provides us with clear entry and exit locations. There is no room ..Read More
Range Bar Trading Strategy
Vicente Nicolellis, a Brazilian trader and broker who spent over a decade running a trading desk in Sao Paulo, invented Nicolellis range bars in the mid-1990s. The local markets were quite turbulent at the time, and Nicolellis grew interested in devising a means to profit from the volatility. He thought ..Read More
52 Week High Strategy
A 52-week high and low is a straightforward approach to assess the performance of a stock, commodity, or other item. The two levels are among the most closely watched by traders. Indeed, many applications, including Investing, Yahoo Finance, and Webull, will send you notifications when a stock reaches or falls ..Read More
Seasonal Trading Strategies
Traders and investors in financial markets employ a range of strategies to try and outwit and outperform markets. Technical analysis and fundamental analysis are two of the most popular methods of analysis, but there are market players who seek and study the behavior of different financial instruments at different periods ..Read More
Doske Scalping System
What is the Doske Scalping System? The “Doske Scalping” system is a popular scalping strategy for Forex traders looking to make quick profits in a short amount of time. The system is based on the use of technical indicators such as moving averages and the Relative Strength Index (RSI) to ..Read More
Sonic R System
What is the Sonic R System? Sonic R System is a forex trading strategy that was developed by Sonic Deejay, a well-known trader in the forex market. The system is based on the use of technical analysis and incorporates various indicators to identify potential trade opportunities. It is designed to ..Read More
Paint Bar Forex System
What is the Paint Bar Forex System? The Paint Bar Forex system is a technical analysis tool that uses a combination of candle bars, indicators, and other graphical elements to help traders identify trends and potential trading opportunities in the foreign exchange market. This system is designed to be user-friendly, ..Read More