The Moon Forex Code is a forex trading system that combines that combines technical analysis from various indicators to generate possible buy and sell signals. It has been developed as a trading strategy template specifically for the ever popular MetaTrader 4 platform. You can download MT4 free of charge from most forex brokers. Keep in mind that to use the Moon Forex Code System, you will need the MT4 desktop platform. The MT4 app can be useful to keep track of your trades and manage them whilst on the go. It can also be handy to receive signal alerts from the Moon Forex Code Strategy. Now without further ado, let’s get stuck into this Moon Forex Code Review to hopefully help you decide of this is a forex system that you would consider using.
What is the Moon Forex Code?
The Moon Forex Code is a forex strategy based on a combination of technical indicators. Each technical indicator has a built-in algorithm that performs an analysis of the underlying market. They aim to identify in which direction the market may be moving.
When all of the indicators used by Moon Forex Code are in agreement, this is when the software will generate a buy or sell signal. It is very easy to read the signals as an arrow is clearly displayed on the chart.
Nobody should have any problem reading the Moon Forex Code dashboard. It tells you most of the important things that you need to know. The main signal as you see will display at the bottom.
Below is an example of what the Moon Forex Code will display when a signal has been released.
Audio Alerts are built into Moon Forex Code so that you can perform other tasks while waiting for the signals. This helps to make sure that you will not miss any signals when you have alerts enabled.
The market has several ways of showing movement. Catching signals just before the key movements happen is important. There are a ton of different ways that one can analyse the markets to help make informed trading decisions. Moon Forex Code does complicated analysis to try and help aid the user with their own trading strategy.
How to use the Moon Forex Code?
When there is a Moon Forex Code Signal, the user can decide is they would like to place a trade or perhaps confirm the signal with their own trading strategy. Personally, I would not take the signals blindly. Instead, I would implement my own market analysis as extra confirmation. I like to know why I would enter a trade rather than solely relying on a third-party trading system such as this.
In saying that, the Moon Forex Code is a complete trading system that you can use “straight out of the box” if you wish to do so. Just keep in mind that no forex system is correct 100% of the time. It will require plenty of practice, preferably on a demo trading account using virtual funds so there is no risk involved.
A forex strategy like the Moon Forex Code, will also require the user to have good money management and trading discipline in place. The best forex indicator in the world can fail miserably without a solid trading plan.
I would want my take profit to be greater than my stop loss on traders to make sure one loss does not wipe out a run of winners. Nothing is more frustrating than seeing days of successful trading being wiped out in one bad trade. I may lock in break even so a winning trade does not turn into a loss and also consider using a trailing stop to try and maximise pips gained from each trade.
You can use the Moon Forex Code System on any currency pair and any chart timeframe. It is very versatile, thus can be used by traders with different trading styles. It can be used as a forex scalping strategy, day trading and swing trading.
I would personally prefer to trade on the longer-term timeframes as I find that this help to filter out some noise that the lower timeframes can have. I would also look at major currency pairs such as the EUR/USD and GBP/USD as they usually have plenty of liquidity and therefore can present trading opportunities throughout the day.
Moon Forex Code Features
Now that we have covered what the Moon Forex Code System is and how it works, let’s take a look at some of the key Moon Forex Code features:
- Manual forex trading system
- Technical indicators for market analysis
- Signal alert notifications via email, SMS and platform pop-ups
- User-friendly trading template
- Compatible with the MT4 platform
- Scalping, day trading and long-term templates
Moon Forex Code Conclusion
Putting this Moon Forex Code Review together, I certainly see some potential with this particular forex system. It is very versatile and can be used by beginner traders and those with more experience. However, I think that it requires some additional input on behalf of the user. I wouldn’t want to take the signals as they are without confirming them myself.
Furthermore, the success rate is likely to depend on numerous external factors, this can include the money management being used, trader’s psychology, trading instruments, chart timeframes, market situation and broker conditions. The best trading system in the world can fail if everything else is not in place.
That being said, I commend Moon Forex Code for packaging together a combination of technical indicators into an easy to use trading template. It has an intuitive and user-friendly dashboard whilst the signal alerts are very handy and save us from analysing multiple chart windows all day long.
If I was to go ahead and use the Moon Forex Code System, I would want to start on a demo trading account to begin with. If and when I start seeing some positive results, I may then consider switching over to a real live trading account. If you want to find out more about this forex system, please feel free to visit the official Moon Forex Code website by using the link below.