In this post I will review the Forex Uranus Strategy. This is a manual forex trading system that has been developed to be used in the ever popular MetaTrader 4 trading platform which is free to download from most online forex brokers. Hopefully, this Forex Uranus Strategy Review will help you to decide if this is a forex trading strategy that you would like to try out. I think that it has some potential but does require the user to take some initiative. This means that you will need to confirm each trading signal with your own market analysis to make sure that you are happy to take the trade. If not, you can always wait for the next opportunity to come along.
What is the Forex Uranus Strategy?
The Forex Uranus Strategy system looks to identify trending market conditions by analysing the trend on multiple timeframes and will then send the user signals alerts when it finds a possible entry condition. It will also mark them on your charts using a combination of colour coded indicators. These technical indicators attempt to filter the market directional bias along with an entry point into the anticipated market direction.
The system includes a trader dashboard that has some buttons to quickly perform frequent operations. There is also a section where you can quickly switch between different currency pairs and time frames which is quite useful.
The Forex Uranus Strategy can be used on any currency pair and chart time frame of your choice. The indicator is very flexible and can be customised to different trading styles such as trend trading, day trading, swing trading, forex scalping and more. This forex indicator can also be used on other trading instruments such as Stocks, Futures, Commodities, Cryptocurrencies, Metals and Energies.
Personally, I would look to be trading some of the most liquid currency pairs such as the EURUSD and GBPUSD as I tend to find that they can have some of the tightest spreads and plenty of liquidity for reliable trade execution speeds at the best available prices, especially when using an ECN forex broker.
I also feel that the higher timeframe charts of 1 hour and above can help to filter out some of the market noise that can occur in the lower chart time frames. It also means less time watching the charts.
As with any forex trading system, the money management and traders’ discipline can be important factors. I would try to ensure that I only take trades that present a favourable risk to reward ratio so that one losing trade does not wipe out consecutive winning trades.
I would personally prefer to conduct my own detailed technical analysis, fundamental analysis and price action analysis before taking any trading signal. This gives an extra confirmation and ensures that I would remain in control of my trading rather than blindly taking a trading signal based on a trading strategy template.
Trend Trading Strategy
The Forex Uranus Strategy is based on trend trading. Trend trading is a strategy that involves traders analysing the direction of trends for financial instruments. When an asset is seeing an upward trend, traders would often look to enter into a long position and buy. In the opposite scenario, when trend direction is downward, traders would go short and sell. An uptrend is a series of higher swing highs and higher swing lows. A downtrend is a series of lower swing highs and lower swing lows.
Trend traders create strategies that are developed based on analysing the trends of an asset. A trend following strategy is based on the expectation that the direction of price will continue in its current form and the trend will not reverse. This means that if you are trading an uptrend, you could continue to hold your long position and watch the asset increase in value, while you could choose to sell your asset if the trend is going downward.
As a trader, you have probably heard the old adage that it is best to “trade with the trend.” The trend is your friend say many traders. This is sound advice as long as you know and can accept that the trend can end. And when that happens, then the trend is not your friend.
How to use the Forex Uranus Strategy?
The Forex Uranus Strategy has been developed to run in the MT4 platform. It comes as a trading template along with built-in indicators that you can apply to your chosen chart symbols and timeframes. You can use the default settings or adjust them according to your own needs. I would certainly practice on a forex demo account to begin with and only use this manual forex strategy as supplementary indicators to my own market analysis.
In order to use Forex Uranus System, you will need a trading account with a forex broker. Please feel free to browse my best forex brokers if you are looking for some inspiration. Many traders will start on a demo trading account until they familiarise themselves with the trading platforms and become consistent using a trading strategy.
Forex Uranus Strategy Summary
The Forex Uranus Strategy is a combination of technical indicators that can be useful for spotting possible trade positions in direction with the trend on your charts. You should of course trade in a way that you feel most comfortable with and understand the risks involved with trading online.
They may not be the most solid trading signals when used alone but they can be combined as part of a more complete trading strategy. I wouldn’t personally use it as is without additional market analysis and a solid trading plan in place.
If you wish to try the Forex Uranus Strategy, perhaps it may be wise to start on a demo trading account. It comes with full support, detailed instructions, tutorials and a money back guarantee.
Forex Uranus Strategy
$37
Pros
- Manual Trading System
- Signal Alerts
- Trend Trading Strategy
- Versatile Forex Strategy
- Any Chart Time Frame
- Any Trading Instrument
- Detailed Instructions
- Full Support
- Free Updates
Cons
- MetaTrader 4 Only
- Quite Basic Forex Strategy
- Not Very Innovative
- Requires Some User Initiative
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
