In this post I will be reviewing the Fx Profit Storm manual forex strategy that has been created to run in the industry standard retail forex trading platform, MetaTrader 4 (MT4). The Fx Profit Storm trading template includes multiple technical indicators that continuously scan the charts in your MT4 platform for entry and exit opportunities. When all of the colour coded indicators agree, the software will send you a buy or sell signal. You can then make a decision as to whether you would like to enter the market or sit back and wait for the next forex signal to come along.
Whilst this might sounds like a convenient semi-automated forex system for those of you who are pressed for time or don’t have the skills required to analyse the markets yourself, there are some very important pros and cons to be aware of when using the Fx Profit Storm Strategy or any other forex system for that matter. In this Fx Profit Storm Review, I will be taking a closer look at the trading strategy that it uses along with the key features. This should help you to get a better idea of the Fx Profit Storm System and what you might expect.
Fx Profit Storm Strategy
The Fx Profit Storm is quite a basic forex trading system. It uses a combination of technical indicators that you will find in the MT4 platform, including the MACD, RSI and moving averages. To be honest, I think you could probably create a very similar forex strategy using these free indicators yourself.
However, it may be useful for those of you who are looking for something that is ready to use out of the box. Everything on the Fx Profit Storm trading template is colour coded with entry and exit arrows. This makes it very easy to understand and use, regardless of your prior experience when it comes to forex trading.
Whilst anyone can read the Fx Profit Storm signals and take them blindly, I wouldn’t do this. Instead, I would want to confirm every single buy or sell signal with my own market analysis. Granted, this does require some work and initiative on behalf of the user. I just think it is important to help filter the good from the bad trades whilst also improving your trading knowledge and skills over the long run.
The Fx Profit Storm is very flexible as it can be used on any currency pair or chart timeframe that you wish. I would probably be looking to trade major currency pairs such as the EUR/USD and GBP/USD as I find that they tend to have good trading volume most of the time which means plenty of liuqidity and the chance to catch some big moves. You can even use the Fx Profit Storm Strategy on other asset classes such as stocks, indices, commodities, precious metals, energies and cryptocurrencies.
I think one of the key things that will determine a trader’s performance with the Fx Profit Storm System, is going to be the money management strategy that they implement. I have seen the same forex strategies give completely different results simply because of traders using different stop loss and take profit levels. You should of course only ever use SL/TP levels that you feel comfortable with as every trader is different in that respect.
The positive thing about this forex strategy is that it combines multiple technical analysis to confirm signals. However, it would be good if the developer improved it by adding fundamental analysis and price action analysis also. I think this would help further to filter some bad trades.
Let’s take a look at some of the technical indicators that are used within the Forex Profit Storm Trading System:
MACD
The Moving Average Convergence/Divergence indicator is a momentum oscillator primarily used to trade trends. Although it is an oscillator, it is not typically used to identify over bought or oversold conditions. It appears on the chart as two lines which oscillate without boundaries. The crossover of the two lines give trading signals similar to a two moving average system.
RSI
The relative strength index, or RSI, is a price momentum indicator in the same family as the moving average convergence divergence (MACD) and stochastic oscillator. Like other momentum indicators, the RSI is charted on a separate graph adjacent to price and has an oscillator range between 0-100. Most traders use the RSI to identify overbought and oversold market conditions and locate trade entry and exit points, but it can also be used as a divergence indicator.
Moving Average
Moving averages (MAs) smooth out a market’s price movements over a given period so you can see through the noise and spot general trends. They are created by averaging out a market’s closing prices over a given number of sessions.
You can create a moving average for any timeframe you wish. A 14-day MA, for instance, will show you a market’s average price over the past 14 days. A five-day MA, on the other hand, averages out the last five days of price action.
Fx Profit Storm Features
- Forex trading template that combines technical indicators
- Runs in the MetaTrader 4 (MT4) platform
- Can be used on any trading instrument and chart timeframe
- Can work on any MT4 forex broker
- Sends buy and sell signal alerts via SMS, email and platform pop-ups
- Easy to use with colour coded indicators and buy/sell arrows
Fx Profit Storm Summary
Overall, I think that the Forex Profit Storm System is a versatile and easy to use forex trading strategy. The signals are clear and colour coded which makes it easy to understand. It can be used for all types of trading style, including scalping forex on the lower chart timeframes, day trading on the 1-hour charts and swing trading the daily charts.
However, I really think that it will require the user to take some initiative to try and filter the signals according to their own market analysis. You will also need to make sure that you have your money management in check along with your trading discipline and forex emotions.
If you are curios and want to give it a god, you could always start on a forex demo account to begin with and see how things go. Otherwise, you could always just fire up the technical indicator already available in the MT4 platform at no extra cost and create a similar forex trading template that can also be a great way to practice your trading skills.
Fx Profit Storm
$37
Pros
- Versatile Forex System
- Combination of Market Analysis
- Clear Buy/Sell Signals
- Signal Alert Notifications
- Easy To Use
- Any Currency Pair
- Any Chart Time Frame
- Any MT4 Forex Broker
- Detailed Instructions
- Full Support
Cons
- MetaTrader 4 Only
- Requires Some User Input
- Takes Time To Learn How To Use
- No Verified Results
- Not Very Innovative
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.
