In this post I will be reviewing the very detailed Forex Trading Strategy ProFx 5.0 manual forex trading system for use in the MetaTrader 4 (MT4) trading platform. MT4 is free to download from most forex brokers worldwide and you can even begin trading with the Forex Trading Strategy ProFx 5.0 on a demo trading account until you master trading with it and can then consider a real live forex trading account once you are consistently making a profit. I always prefer to use a reputable ECN forex broker as I find that they tend to have larger liquidity pools (LP’s) and thus better trading conditions for me including low spreads, minimal slippage and competitive commissions.
Forex Trading Strategy ProFx 5.0 Trading System
The Forex Trading Strategy ProFx 5.0 is a 100% rule based day and swing trading manual system. This means that it is more suitable to the longer term time frames such as the 1 hour charts and above. You can use it on any currency pair you wish although the major currency pairs such as the EURUSD & GBPUSD tend to have the most liquidity and I find they alo have some nice trends.
The Forex Trading Strategy ProFx 5.0 analyses price action and momentum to try and identify trading opportunities which you can then decide to take or wait for the next one to come along.
Forex Trading Strategy ProFx 5.0 is a semi-automated forex trading system that can analyse multiple currency pairs and multiple time frames to give you a signal when it find what it considers to be a high probability setup.
It will even give you optional stop loss and take profit levels whilst the colour coded indicators are very easy to interpret.
You can take the Forex Trading Strategy ProFx 5.0 signals as they are or add your own technical, fundamental and price action analysis to them.
I would consider using a trailing stop to try and ride the mid-long term trend moves and also lock in profits at break even so winners do not turn into losers.
Furthermore, I would make sure that the trading signals have a good risk to reward ratio where a win would outweigh a loss. This way, even if I have a lower win rate using Forex Trading Strategy ProFx 5.0, I can still do well in the long run.
Forex Trading Strategy ProFx 5.0 Summary
Overall, the Forex Trading Strategy ProFx 5.0 system is a very basic manual forex trading system for those who prefer to trade long term and would like all of the technical analysis done for them behind the scenes.
You do not need to stare at charts all day as it will give you sound alerts, email and SMS signal notifications for you to consider.
I wouldn’t personally take all signals blindly but analyse them myself briefly with other analysis such as the forex market sentiment before proceeding.
Forex Trading Strategy ProFx 5.0 comes with instructions, support, updates and a money back guarantee.