In this post I will be reviewing the London Forex Rush Trading System that has been designed for forex traders to use in the MetaTrader 4 (MT4) trading platform. You can download MT4 for free from most online forex brokers.
The MT4 platform is a popular choice of online trading platform for millions of traders all over the globe mainly due to its user-friendly interface and vast array of built in trading tools.
In order to use this forex system, you will need a trading account with a forex broker. With so many brokers to choose from, I have conveniently compiled a list of my best forex brokers to help you quickly and easily choose a broker that meets your needs.
I like to use an ECN forex broker as I find that they can provide some of the tightest spreads along with competitive commissions and usually have plenty of liquidity for reliable trade execution speeds at the prices that I want.
London Forex Rush Trading System
The London Forex Rush Trading System is a manual trading system that is based on volatility and momentum. The London Forex Rush system has been designed to trade only and exclusively the Sterling Pound currency pairs, due to the fact that they can have some of the most volatility. GBP currency pairs include GBP/USD, GBP/JPY, GBP/CHF, GBP/AUD, GBP/CAD, etc.
The developer states that you should use this particular forex trading system around the first 2 hours of the London open as the pairs can be most active during these times and thus give some potentially big moves. However, you can use it any time you wish.
It would be imperative when using the London Forex Rush Trading System to have your money management in check.
I would personally only take trades that give me a potential risk to reward ratio of 1:3 as I would not want one losing trade wiping out multiple winners. I would probably look to cut losing trades short and let the winners run.
Your trading psychology and discipline should always be in check, avoiding negative emotions such as fear, anger and greed. These can all lead to irrational decision making.
The London Forex Rush Trading System can be traded as is or you can add your own technical, fundamental, price action and sentiment analysis to further filter trades.
The system will automatically scan the charts for trading signals then when it finds them it will send you an alert with the trade direction, entry price, stop loss and take profit levels.
The developer includes an explanation of the London Forex Rush Trading System so you can understand how it works along with the indicators required to use it in the MT4 platform
London Forex Rush Trading System Summary
Overall, I believe there is potential with the London Forex Rush Trading System provided you filter the signals and use good money management principles. It is not as easy as it sounds and will require plenty of practice and patience.
I have seen many manual and automated systems based on trading around the London open over the years, especially systems that are based on breakout due to the market volatility on GBP pairs around this time.
You may wish to start on a demo trading account and practice using this system until you are producing consistently good trades and feel confident to open a real live trading account.
The London Forex Rush Trading System includes detailed instructions, support and updates but there is no money back guarantee.