In this post I will be reviewing the Forex Venom Pro Trading Indicator for use in the widely available and most popular trading platform – MetaTrader 4 (MT4). The Forex Venom Pro Trading Indicator is suitable for any level of forex trader from beginners to advanced traders as it is simple to interpret with its colour coded red and blue signals.
If the Forex Venom Pro Trading Indicator is red then you would look to sell and if the indicator is blue then you would look to buy. You may trade the Forex Venom Pro Trading Indicator as it is stand alone although you may also wish to add your own additional technical, fundamental and / or price action analysis to further filter the signals for your own verification.
The Forex Venom Pro Trading Indicator is very flexible as it can be used on any currency pair or time frame although I personally prefer the higher time frames (1 hour and above) as they tend to filter out some of the noise that can occur in the smaller time frames.
Furthermore, I prefer the major currency pairs such as the EURUSD & GBPUSD as they usually have plenty of liquidity and when using a good ECN forex broker this can help to save on trading costs.
Forex Venom Pro Trading Indicator Trading System
The Forex Venom Pro Trading Indicator simply analyses your charts using its built in algorithm to find trading opportunities (entries and exits) across as many currency pairs and time frames as you wish.
You do not need to watch your charts as the Forex Venom Pro Trading Indicator can give you alerts using its built in 3 way alert system when it finds signals whilst it also saves you the hassle of having to constantly analyse the markets.
The Forex Venom Pro Trading Indicator also includes 3 different risk modes that can be selected to suit your trading style. Basically, depending on the risk mode you choose, the more the indicator filters out the signals.
If you are a scalper, intra-day trader or swing trader, you can use the Forex Venom Pro Trading Indicator as it is extremely flexible.
Forex Venom Pro Trading Indicator Summary
Overall, the Forex Venom Pro Trading Indicator is a decent manual forex trading system, but I believe that the signals should be picked carefully and filtered out with additional analysis.
Furthermore, I would make sure that I have sound money management in place so winning trades are greater than losing trades with a favourable risk to reward ratio.
You may want to start in a demo forex trading account with the Forex Venom Pro Trading Indicator until you familiarise yourself with it and have a good consistent success rate.
It comes with detailed instructions, support, trade examples and a money back guarantee.
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.