If you are restricted in terms of time but have a decent amount of capital, you might consider a weekly forex strategy. This means you would only need to take a few minutes each week to check for any buy or sell signals. You can also catch some big currency ..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.
MACD Breakout Strategy
The MACD indicator is great for identifying the direction and momentum of a currency pair trend. However, many forex traders to not make the most of it as it can also adapt to other market conditions. The MACD breakout strategy can be used to time an entry when price breaks ..Read More
Daily Forex Strategy
Trading forex on the daily charts has many advantages. It requires less time analysing charts and filters out a lot of market noise when compared to lower chart timeframes. However, when using a daily forex strategy there is going to be less buy and sell signals. You therefore need to ..Read More
Bollinger Bands Reversal Strategy
One of the most popular forex strategies for currency pairs that are trading in a range is the Bollinger bands reversal strategy. I find Bollinger bands to be the ideal technical indicator for picking tops and bottoms in a range bound market. The key thing is to first determine when ..Read More
4 Hour Forex Strategy
Trading forex on the 4-hour charts can be a good for a number of reasons. You can filter out some of the noise from the lower chart timeframes and it takes less time to study the charts. There are many different 4-hour forex strategies that you can use, but due ..Read More
RSI Reversal Strategy
If you are looking for reversal trades to either get into an existing trend or the start of a new trend on a currency pair, the RSI reversal strategy can help. This forex strategy looks for extreme overbought or oversold market conditions so that you can time your entry and ..Read More
1 Hour Forex Strategy
The 1-hour chart timeframe is one of my favourite timeframes for day trading forex. I find that it does a great job of filtering out some of the noise from the lower chart timeframes whilst there are still ample opportunities to catch some good moves. If you were swing trading ..Read More
Moving Average Breakout Strategy
The moving average breakout strategy is one of the simplest yet effective ways to trade. Not only are you entering in the direction of the trend, but you are timing your entry when there is a break of support or resistance. Too many traders simply buy above the moving average ..Read More
15 Minute Forex Strategy
Trading forex on the 15-minute charts is a good middle ground between short and long-term trading, which makes it a popular timeframe for day trading. There can be too much noise on the 1-minute charts and 5-minute charts, whereas signals are less frequent on the 1-hour charts and above. There ..Read More
50 Moving Average Strategy
The 50-day moving average strategy can be a good way to trade in line with the mid to long term trend because it represents about 20% of the trading days in a calendar year, or around two and a half months. When you trade in the direction of the trend, ..Read More