In this post I will be reviewing the Profit Goldeneye Forex System which I can only assume is named after the excellent James Bond film starring Pierce Brosnan, “GoldenEye”. This is a complete manual forex trading strategy that includes templates and indicators for loading onto your charts in the MetaTrader 4 (MT4) platform. It is another forex system from the Element Forex team. I have reviewed some of their other forex software including the X-Brain Method.
The Profit Goldeneye Forex System will constantly scan the charts using its built-in trading algorithm to find possible forex trading signals. When the combination of indicators implemented within the code find a buy or sell trade setup, it will clearly display the signal on your chart and can even send you an alert so that you do not need to sit at your computer all day waiting for signals to occur.
Although this may sound like the ideal solution for those of you who might not have the time or knowledge to analyse the financial markets yourself for opportunities, there are some key pros and cons I will cover in this Profit Goldeneye Forex System Review that you should be aware of when using it or any other forex trading strategy for that matter.
The Profit Goldeneye Forex System Strategy
The Profit Goldeneye Forex System uses a combination of market analysis to try and determine the market trend. It has filters for trying to avoid unsuitable market conditions. Despite this, it is lacking in terms of fundamental analysis so you will need to keep an eye on the financial news, perhaps with an economic calendar.
When all of the technical indicators implemented with then Profit Goldeneye code agree, that is when there is a buy or sell signals generated on the chart. The trading signals are very clear and colour coded within a handy trading dashboard, therefore I do not think anyone would have a problem using this forex system.
However, I do feel like the Profit Goldeneye Strategy will require the user to take some time to confirm each trading signal that it produces. This is because there may be many false signals without the user filtering trades with their own preferred methods of market analysis.
For sure, you could just use the Profit Goldeneye System exactly as it is “straight out of the box”, but I think this would lead to more losing trades as there is no need to blindly take every signal that the software gives you.
One of the main advantages of the Profit Goldeneye Forex Strategy is that you do not need to gaze at charts in your MT4 platform all day long and sit around waiting for signals to appear. This is because it has a handy alert feature that you can set for it to send you signals alerts via SMS, email and platform pop-ups. Just remember, you might still want to confirm each signal before taking a position in the market.
The Profit Goldeneye Forex System is also very versatile. In theory, you can use it on any financial market including forex, stocks, commodities, indices, precious metals and cryptocurrencies. You can also use it on any timeframe for scalping forex on the lower chart timeframes, day trading and swing trading.
The Profit Goldeneye Forex System Features
- Fits any trading style such as “Scalping”, “Mid-Term” and “Long-Term” trading
- Moveable panel that is drag and drop by simple move of your mouse
- Identifies trend and signals based on the current trend only
- Moveable panel that is drag and drop by simple move of your mouse
- Signals based on a combination of conditions
- The Arrows that are projected do not repaint after the fact
- Programmed for the MetaTrader 4 platform
- Intuitive User Interface with colour coded indicators
- Can Run on All Timeframes and Any Trading Instrument
- E-mail/Mobile/Desktop Alerts
- Can be used with Any MT4 Forex Broker
The Profit Goldeneye Forex System Summary
Overall, I think that the Profit Goldeneye Forex Strategy does have some potential but will require the user to take the initiative. It is a well packaged forex trading system that includes everything from templates to indicators and an easy to follow instruction manual. This makes it a ready to use forex strategy but that does not mean that it will always produce good trading signals.
As mentioned earlier, I would only be taking the Profit Goldeneye Forex Signals after confirming them with my own market analysis. I certainly would not blindly enter the market and rely on this strategy alone.
Then you have to consider the money management that you will be using in terms of where you will place your stop loss and take profit levels. This could have a huge impact on the performance of this forex system.
I have seen the exact same forex strategy give traders a completely different set of results simply because they had a different perspective on the risk to reward ratio. That can make or break even the best forex trading strategy in the world.
The Profit Goldeneye Forex System does include a handy free bonus in the “Market Sessions Indicator”. This useful little tool shows you different time zones and trading sessions so you can decide when you would like to trade. For example, some forex traders like to avoid certain trading sessions due to low volatility.
To be honest, this 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 Profit Goldeneye Forex System download you can visit the website by using the link below.
Profit Goldeneye Forex System
$197
Pros
- Semi-automated BUY/SELL Signals
- Combination of Market Analysis
- Trend Trading Strategy
- Easy To Understand Signals
- Colour Coded Indicators
- Handy Trading Dashboard
- Any Currency Pair
- Any Chart Time Frame
- Versatile Forex System
- Free Bonus Forex Indicator
Cons
- MetaTrader 4 Only
- No Verified Results
- Not Very Innovative
- Takes Time To Learn How To Use
- Requires Some User Initiative
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.
