Is there a forex trading system that works? Of course there are or it will not even be a thing at all in the forex market. There are some bad ones, yes, but there are good ones that work well and can be of great help to a lot of traders if they can use it right. We will focus on what a forex trading system is and list three of them that have good reputation to work well in the forex market.
WHAT IS A FOREX SYSTEM?
A forex system is a series of analysis methods that helps a trader decide when to trade a particular currency pair. It is basically what tells a trader whether to buy a currency pair or not. It can be accessed for a cost or for free; some of them work well, while some others are cheap scams.
LIST OF FOREX TRADING SYSTEM THAT WORKS:
Some of the forex trading systems that work well are
- Hybrid scalping system
- Bolly band bounce trade
- The skyplay system
There are many of them, but for the purpose of this post, we will focus on just these three.
1. HYBRID SCALPING SYSTEM:
This system makes use of indicators from other systems put together to give a more desirable result of high accuracy. All these indicators are installed on the MT4 trading platform from where it can be used as part of the hybrid scalping system. It makes use of Ichimoku Kinkyu Hyo chart in its analysis. This system is said to have
- A high level of profitability seeing that it produces a profit of over 45 percent in just one month
- It manages risk at a very recommendable level
- Talking about pips, the average loss was 9.10, and it was less than half of the inceptive top loss of 20 pips
It may not look so easy to work with at first, but with time and practice, it gets easier.
BOLLY BAND BOUNCE TRADE:
This is one of the forex systems that work well in ranging markets. It produces great effects, which are as a result of being used in combination with confirming signals. It has produced great results for news traders, and here is one tip from their experience. Wait for about 15 minutes after the news release before applying this trading system in a trade. The bolly band bounce trade will sure work for anyone that found the Bollinger band trading system helpful.
THE SKYPLAY SYSTEM:
This system indicates the trend of the market in an hour time frame, but one can zoom into the five minute chart to define the entry. Here are some other features of this system
- It is based on the MACD, 20 EMA, Coral Indicator, time zone, and true strength indicator.
- It produces a profit of about 3.56% within a period of four months with an average win of about 0.79%, and an average loss of 0.94%.
- It has the potential to perform better with a few tweaks, so no hi tech skills needed to be able to operate it effectively.
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