In this post I will be reviewing the X Trend Premium indicator which analyses the forex market in real time to deliver trading signals and alerts to the user. Hopefully, this X Trend Premium Review will help you to decide if this is a forex trading strategy that you would like to try out. I think that it has some potential but does require the user to take some initiative. This means that you will need to confirm each trading signal with your own market analysis to make sure that you are happy to take the trade. If not, you can always wait for the next opportunity to come along.
The X Trend Premium 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, FX Atom Pro, X Scalper, Set Forget Pattern Profit, Rapid Trend Gainer, Infinity Scalper, Forex Equilibrium, Triumph Scalper, Forex Starlight, Forex Spectrum and FX Meta Scalper.
What is the X Trend Premium Trading Strategy?
The X Trend Premium indicator uses a unique trading algorithm with an adaptive algorithm that works in real time.
The indicator aims to pick only the highest probability trading signals and has built-in filters in order to try and avoid unsuitable market conditions.
You can use the X Trend Premium indicator as standalone signal provider or you can conduct your own additional technical, fundamental, price action and sentiment analysis to further filter the trades.
You don’t have to be around your computer all day waiting for the signals as X Trend Premium can notify you when if finds a buy or sell signal via SMS, email and platform pop-ups.
The X Trend Premium indicator can be used on any FX currency pair or any other trading instruments that your MT4 broker provides which can include cryptocurrencies, commodities, stocks, indices, precious metals, energies, etc.
I usually like to trade the major currency pairs including the EURUSD and GBPUSD as I find that they tend to have some of the lowest spreads and also the most liquid which gives me a chance to catch some big moves.
The X Trend Premium indicator can be applied to charts of any time frame from the 1 minute all the way through to the 1-month charts. The chart you use may depend on the time that you have available in your schedule to dedicate to trading. It may also depend on whether you are using a scalping strategy, day trading or swing trading.
X Trend Premium can easily be adapted to suit your preferred manual trading style. I would personally use the higher chart time frames as they require less time whilst I find that they do a decent job of filtering out potential noise and choppy markets that can occur with lower time frames.
How to use the X Trend Premium indicator?
This particular trading indicator runs in the ever popular MetaTrader 4 (MT4) trading platform which is free to download and use from most online forex brokers.
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 would always look to open a trading account with an ECN forex broker as I find that they tend to have some of the lowest spreads and commissions along with plenty of liquidity for superior trade execution speeds with minimal slippage. These factors can save on trading costs in the long term and effect the performance of a trading system.
X Trend Premium can be used by beginner, intermediate and advanced traders. It includes easy to follow instructions and is very easy to interpret the trading signals that the indicator produces.
Step 1:
Attach X Trend Premium to the trading chart of your choice.
Step 2:
Decide if you want to enter your trade on a BUY or a SELL signal with the optional Stop Loss.
Step 3:
Exit the trade at one of the three optional Take Profit levels or set your own.
Step 4:
Repeat these steps whenever you want.
X Trend Premium Summary
Overall, the X Trend Premium indicator has potential provided the user implements good money management principles and has strong trading discipline without letting emotions such as fear, anger and greed creep in. It will certainly require lots of initiative on behalf of the user. I would not say this is a set and forget forex trading strategy by any means. It will require lots of practice and additional market analysis for confirmation of each trading signal that the software generates.
I would personally trade it on the 1-hour charts and above on the most liquid currency pairs. Furthermore, I would only take the signals it generates that give me at least a risk to reward ratio of 1:3. There is nothing more frustrating than 1 losing trade wiping out multiple winners. Yes, it is a flexible trading strategy that you can use on any financial instrument and chart timeframe, but I think it is not really that much different from a basic forex strategy that you could develop using the default technical indicators already included within the MT4 platform.
The X Trend Premium indicator comes with instruction manual, support, updates and a money back guarantee. Reading through the official website, I did find the developer to be making some claims that I do not think give an accurate representation of the trading strategy. That is because results can differ according to so many factors, including the traders experience level, trading instrument, chart timeframe, broker conditions and much more. I think they could improve significantly by publishing some up to date results showing how (if at all) they have been using the X Trend Premium indicator recently, along with any results.
X Trend Premium
$147
Pros
- Manual Trading System
- Versatile Forex Strategy
- Multiple Currency Pairs
- Multiple Timeframes
- Signal Alerts
- Color Coded Indicators
- Easy To Use
- Detailed Instructions
- Full Support
- Money Back Guarantee
Cons
- MetaTrader 4 Only
- Quite Basic Forex Strategy
- Takes Time To Learn How To Use
- Not Very Innovative
- 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.
