In this post I will be reviewing the Forex Wealth Strategy manual forex trading system that has been developed by self-proclaimed “master trader” Toshko Raychev. The Forex Wealth Strategy is a combination of indicators that run in the free to download MetaTrader 4 (MT4) trading platform that is available from most of the best forex brokers globally.
The Forex Wealth Strategy give you the trader possible entry and exit signals for trading on the forex market. The indicators used by the Forex Wealth Strategy are easy to interpret and you may choose to manually take every single signal the trading system generates, or you can use your own additional technical, fundamental and price action analysis to further filter trades.
I personally like to avoid trading around news releases as this can cause unexpected moves in the market whilst I find trading on the higher time frames (1 hour and above) can do a great job of filtering out the noise and potentially false signals that the lower time frames can give.
I also like to trade the major currency pairs such as the EURUSD & GBPUSD as they tend to have the most liquidity and thus can save on trading costs with low spreads and low slippage – especially when using an ECN forex broker.
Forex Wealth Strategy Trading System
As explained previously, the Forex Wealth Strategy is a manual forex trading system. You set it up in just a few minutes using the provided instructions and you can run it on one chart or multiple charts as well as on as many time frames as you wish.
The Forex Wealth Strategy will save you from needing to study multiple charts at once as it can do this for you and give signal alerts when it finds what it deems to be valid entry signals into the market.
The Forex Wealth Strategy is a trend based system which means that it tries to avoid ranging and choppy markets whilst looking for potentially big market moves should you time the entry and exit correctly.
Ideally, I would want to use this forex system to enter at the start of the trend and exit at the end. It does require that you have a good money management strategy in place. I would good risk to reward ratio where wins are greater than losers. I may even use a break even to lock in profitable trades whilst also using a trailing stop to try and ride trends.
The indicators incorporated in the Forex Wealth Strategy trading system are very easy to understand and colour coded so you can clearly see the signals when they occur and decide from there if you would like to enter the trade.
Forex Wealth Strategy Summary
Overall, the Forex Wealth Strategy is a very basic manual forex trading system that is suitable for any level of trader, novice or advanced. You may use it as is standalone or in combination with your own forex trading system. I would personally be practising on a forex demo account to begin with until I master the Forex Wealth Strategy and consistently make a profit, then would look to go live when ready.
The Forex Wealth Strategy includes dvd’s (basically videos!) and instruction manual. It also has multiple trade examples so that you can make sure you are trading with the Forex Wealth Strategy correctly.
Furthermore, the Forex Wealth Strategy comes with full support and a money back guarantee.