In this post I will be reviewing the easy to use Forex X Code forex trading system. This manual forex trading system is based around an indicator for MetaTrader 4 that can give trading signals as well as giving you an area to place your stop loss and take profit levels. It only takes a couple of minutes to setup and is very easy to understand. You just follow the indicators color changes. When the indicator is blue, you may want to look at placing a buy position and when it is red you may look to sell. If the indicator is flat (horizontal) then the system suggests that the market is ranging and to avoid trading. You do not need to take every signal. I would personally use my own analysis to filter signals before trading.
Forex X Code Trading Strategy
The Forex X Code trading system aims to catch trends. I tend to find the bigger trend moves on the higher chart time frames such as the 1 hour, 4 hour and daily charts. There may be more false signals trading it on the lower time frames.
I would always try to let the winners run and cut the losing trades short so that I have a positive risk to reward ratio.
Forex X Code can be used on all currency pairs so you can choose which to trade although for tight spreads and decent liquidity, I would be trading with this forex trading system on the major currency pairs.
Forex X Code can also work on stocks and commodities such as oil, gold, silver, etc.
With the Forex X Code indicator you are in complete control of the trading so you can decide if you would like to take a signal from the indicator using other factors such as incoming major news, fundamental analysis, market hours and anything else for an additional filter.
Forex X Code Summary
Forex X Code is very simple to use, giving a signal to buy, sell or remain neutral and has a useful alert feature so trade signals can be sent to your mobile phone via SMS or your email. There is a 60 money day back guarantee which gives you more than enough time to try it out and decide if it is for you. It may be a good idea to practice on a demo trading account to begin with.