In this post I will be reviewing the X-Brain Method which is a forex trading system that has been developed for manual forex trading in the popular MetaTrader 4 (MT4) platform. If you don’t already have it, you can download the MT4 platform free of charge from most forex brokers. The X-Brain Method Forex System has a user-friendly dashboard that gives you optional buy and sell signals. It is another forex system from the Element Forex team. I have reviewed some of their other forex software including The Profit Goldeneye Forex System.
Whilst it might seem tempting to use a readymade forex trading system, there are some important advantages and disadvantages that you should be aware of before you start. I will try to cover them in this X-Brain Method Review, along with information on how the strategy works and its key features. Hopefully, this can help you to decide if the X-Brain Method is something that you would like to implement within your forex trading plan.
X-Brain Method Strategy
The X-Brain Method is a user-friendly system designed for forex trading. The X-Brain system incorporates navigable features that can help to make you handle your trading decisions more efficiently. You do not need to always watch your charts as you can get timely email, mobile, and even desktop alerts with X-Brain Method.
In terms of the implemented trading strategy, the X-Brain Method uses a combination of technical analysis and price action analysis. I always prefer when a forex system combines multiple forms of chart analysis as I feel this can help to confirm trading signals. However, 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.
The X-Brain Method is very versatile as you can trade with it on any currency pair and chart timeframe that you wish. You can also use it on other financial instruments including stocks, indices, commodities, precious metals and cryptocurrencies.
I would be looking to trade major currency pairs such as the EUR/USD and GBP/USD. This is because I find they often have plenty of liquidity which means that spreads can be lower and there is the potential to catch some good market moves. As always, I would look at using an ECN forex broker for the best possible trading conditions, IC Markets being my top choice of brokerage.
In terms of the chart timeframe, I would usually prefer to trade manually on the 1-hour charts and above. This is simply because I feel like the higher timeframes can do a better job at filtering out some of the market noise that can occur on the lower timeframes. That being said, as it is so versatile, the forex X-Brain Method can be used for scalping forex on the lower chart timeframes, day trading and swing trading.
Forex Signals Panel
The Forex X-Brain Method is equipped with a sophisticated drag and drop panel that can be moved around your MetaTrader charts relatively easily. It displays all the important information including signals that are generated by the X-Brain Method algorithm.
I found the X-Brain Method dashboard very easy to understand, everything is presented clearly from buy and sell signals, to a wait signal. You can take each forex signal from the X-Brain Method blindly, but personally I would not. Instead, I would want to confirm each and every signal with my own market analysis.
Price Action Filter
The X-Brain Method is primarily built on price action conditions and the filters built into are also based on price action movements found on candlestick patterns. Price action analysis is the act of studying, reading and interpreting the price movement of a market over time, which involves the use of raw price charts to trade the market (no indicators).
By learning to read the price action of a market, we can determine a market’s directional bias as well as trade from reoccurring price action patterns or price action setups that reflect changes or continuations in market sentiment.
X-Brain Method Features
- Programmed for the MetaTrader 4 platform
- Intuitive User Interface
- Automatic Buy & Sell Signals
- Advanced Volatility Filter
- Can Run on All Timeframes
- Can Run on All Currency Pairs
- E-mail/Mobile/Desktop Alerts
- Any MT4 Forex Broker
X-Brain Method Summary
Overall, I think the X-Brain Method Forex System is a well-packaged manual forex trading strategy. It includes a very useful trading dashboard that generates clear buy or sell signals. It can be used by traders of all experience levels. It is a very versatile trading system that can adapt to any asset class and chart timeframe, but only runs in the MT4 platform.
I do think that the X-Brain Method requires significant user initiative in order to filter the good from the bad signals. You will also need to decide on suitable money management in terms of stop loss and take profit levels according to your own risk preferences. Yes, you could use it straight out of the box but every trader is different. Thus, I feel it does require some user input and understanding of the markets in order for it to be used to its full potential. I think you may be disappointed if you simply take the X-Brain Method Forex Signals as they are.
If you do purchase the X-Brain Forex Trading Method, it does come with a couple of unique bonuses. You get the “Divergence Trader Forex Indicator” which as the name suggests, can help you to understand how to spot divergence in the forex market. Then there is the day data tool for MetaTrader 4 which helps you to understand more about recent market movements. These are nothing ground-breaking and not something you couldn’t do on your own accords, but still nice to have.
If you are considering the X-Brain Method Forex Strategy, then you might want to give it a try on a forex demo account to begin with just to see how things go. Once you start to build some confidence and see results that you are happy with, you may then consider switching over to a live account. It includes detailed instructions, free updates and full support.
X-Brain Method
$297
Pros
- Automatic Buy & Sell Signals
- Handy Trading Dashboard
- Easy To Understand Signals
- Any Trading Instrument
- Any Chart Time Frame
- Any MT4 Forex Broker
- Combination of Market Analysis
- Detailed Instructions
- Free Updates
- Full Support
Cons
- MetaTrader 4 Only
- Requires Some User Initiative
- Takes Time To Learn How To Use
- No Verified Results
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.
