In this post I will be reviewing the manual forex trading system Set Forget Pattern Profit which has been developed to be used to trade currency pairs in the popular and widely used MetaTrader 4 trading platform which is free to download from almost all forex brokers worldwide. You can even open a free demo account and try the Set Forget Pattern Profit trading system out risk free. Set Forget Pattern Profit gives you trade entry and exit signals without you needing to do any market analysis yourself, thus making it suitable for the most novice of forex traders. It is very easy to use but you may want to verify all of the signal with your own analysis before taking any of them. I personally feel this is quite a simple forex strategy that needs to be complimented with further technical, fundamental and price action analysis before taking any of the signals that it produces.
The Set Forget Pattern Profit indicator is another forex trading system from the Karl Dittmann whose previous forex software I have reviewed including Fibo Quantum, Super Profit Scalper, Pips Wizard Pro, Forex Enigma, Forex Monarch, Forex Resolut, Exynox Scalper System, Onyx Scalper, Alfa Scalper, DNA Scalper, X Trend Premium, FX Atom Pro, X Scalper, Rapid Trend Gainer, Infinity Scalper, Forex Equilibrium, Triumph Scalper, Forex Starlight, Forex Spectrum, FX Meta Scalper, Fibo Winner, Instant Buy Sell Signal, 5 Star Trend Profit, FX Trend Evolution and Nova Scalper.
What is the Set Forget Pattern Profit?
The Set Forget Pattern Profit indicator primarily uses price action analysis to find trading signals. You can use it on any currency pair and time frame charts that you wish. For the best spreads and fastest execution speeds I would personally trade on the major currency pairs with the most liquidity such as the EURUSD & GBPUSD. I would also use an ECN forex broker.
If you are a trader who likes lots of action then you can use the Set Forget Pattern Profit indicator on the lower time frame (below 1 hour) and if you prefer to try and filter out lower time frame noise and go for more long term forex signals then you may want to use it on the 1 hour charts and above.
The Set Forget Pattern Profit system will alert you via SMS, email and a pop up alert when there is a trading signal so you do not need to watch your charts all day. It is suitable no matter how much time you have to trade as you would simply use it on a time frame that is easiest for you, any time of the day there are frequent signals.
You may take every Set Forget Pattern Profit signal as soon as it occurs or you can be selective and use your own additional market analysis should you wish. Either way, it will require trading discipline and good money management. I would make sure trades have a reward that outweighs the risk so one losing trade does not wipe out all of the gains.
The Set Forget Pattern Profit forex indicator will give you optional stop loss and 3 take profit levels but you can use your own if you prefer.
It has a functional trend analysis mechanism that keeps working every second to make sure that you get only the most accurate and profitable signals.
It has a built-in smart prediction technology which allows it to try and predict where the price could be going to go in the next seconds, minutes or even hours.
How to use the Set Forget Pattern Profit?
This forex trading strategy runs in the MetaTrader 4 platform which you can get from most online brokers. In order to use Set Forget Pattern Profit indicator, you will need a trading account with a forex broker. With so many forex brokers to choose from nowadays, it can seem very difficult to find a suitable option. If you are new to forex trading online and looking for some ideas, please feel free to browse my best forex brokers for some inspiration along the way.
IC Markets are my top choice of forex broker for manual trading strategies such as the Set Forget Pattern Profit system. This is because I find them to have tight spreads, low commission fees and plenty of liquidity which means that you can get your trades executed at some of the best forex market prices at all times. From my experience, they also provide excellent 24/7 customer support and have a good variety of convenient account funding options for you to choose from.
Set Forget Pattern Profit Summary
Overall, the Set Forget Pattern Profit system is a basic manual forex trading system that is suitable for any level of trader and whatever your trading style is (scalping, swing trading, day trading, etc) it can be adapted easily to suit your needs. It is easy to understand and use, without any complicated market analysis needed unless of course you want to. However, I feel it does require some initiative on behalf of the trader. I would not want to take the trades blindly without doing my own additional market analysis for additional confirmation. You will also need to choose what money management strategy you wish to use.
On the positive side, it never repaints, and you get a complete hands-on support and guidance for a life-time. You get automatic push notification alerts sent to your mobile and also an email notification whenever a new signal comes in. This indicator will also generate an on-screen pop-up with an audible sound alert to let you know that there is a new trading opportunity if you are away from your computer.
Overall, I think the Set Forget Pattern Profit is a basic forex strategy, and I do not think it is much different from a trading strategy template that you could build yourself in the MetaTrader platform by simply using the default technical indicators and drawing objects that are included within the platform free of charge. If you want to learn more and get the Set Forget Pattern Profit download you can visit the website using the link below. It includes detailed easy to follow setup instructions, full support and a money back guarantee.
Set Forget Pattern Profit
$87
Pros
- Versatile Forex Indicator
- Any Currency Pair
- Any Timeframe
- Manual Trading System
- Easy To Use
- SMS/Email/Signal Alerts
- Detailed Instructions
- Full Support
- Money Back Guarantee
Cons
- MetaTrader 4 Only
- Quite Basic Forex Strategy
- Requires Some User Initiative
- 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.
