Forex Trading Systems : LeverageFX an Unbiased Review
Since I usually do not review manual trading systems today I decided to change the scheme of things a little bit and review the manual trading systems offered at LeverageFX.com. I was asked to review these trading systems by a website visitor who seemed to be interested in the way their manual trading system works. After taking a look at the website and analyzing the characteristics of the trading method they mention I decided to write this review. We will first look at the general characteristics and claims made by the people at leverageFX and then we will evaluate how "achievable" profitable trading results would be using this system.
More than a trading system, the people at leverageFX seem to be offering a variety of different tools that can help the average trader get more profit from the foreign exchange market. The website also talks about their strategies which seem to fit both advanced and new traders. The system for new traders shows signals as red and green bars and seems to be able to tell the trader precisely when he should enter or exit trades.
At first glance, this looks like many other manual trading systems offered online and does not seem to provide any additional focus that would benefit an experienced trader (in the new or advanced section). In my opinion, the trading aids offered by the company are not likely to benefit someone who is not already profitable in trading and will most probably give very little benefit to someone who already is. The problem of this system, I believe, is that it has an excesive focus on the finding of entry points and it underestimates the whole concept of money management.
The system never mentions how money management should be adapted against the market or how traders should exit the market in relation to the amount of money they have traded. Needless to say, you are as much as likely going to profit from the market with this than from other already available tools out there. In particular, there are thousands of different indicators being offered publicly for the metatrader 4 platform and many of them give you the same functions you find with the LeverageFX system.
My advice for people interesting in manual trading would be to learn it through experience, trade a simple trading system based on support and resistance with an adaptable and sensible money management and you will start to head into profitable territory. If the reason you enter a trade is because a bar changes color in an indicator, then you still have a lot to learn from forex trading (although we all keep learning!).
If you would like to learn more about my automated trading systems and how you too can benefit from trading long term profitable systems with realistic profit and risk targets please consider buying my ebook on automated trading or subscribing to my weekly newsletter to receive updates and check the live and demo accounts I am running with several expert advisors. I hope you enjoyed the article !
More than a trading system, the people at leverageFX seem to be offering a variety of different tools that can help the average trader get more profit from the foreign exchange market. The website also talks about their strategies which seem to fit both advanced and new traders. The system for new traders shows signals as red and green bars and seems to be able to tell the trader precisely when he should enter or exit trades.
At first glance, this looks like many other manual trading systems offered online and does not seem to provide any additional focus that would benefit an experienced trader (in the new or advanced section). In my opinion, the trading aids offered by the company are not likely to benefit someone who is not already profitable in trading and will most probably give very little benefit to someone who already is. The problem of this system, I believe, is that it has an excesive focus on the finding of entry points and it underestimates the whole concept of money management.
The system never mentions how money management should be adapted against the market or how traders should exit the market in relation to the amount of money they have traded. Needless to say, you are as much as likely going to profit from the market with this than from other already available tools out there. In particular, there are thousands of different indicators being offered publicly for the metatrader 4 platform and many of them give you the same functions you find with the LeverageFX system.
My advice for people interesting in manual trading would be to learn it through experience, trade a simple trading system based on support and resistance with an adaptable and sensible money management and you will start to head into profitable territory. If the reason you enter a trade is because a bar changes color in an indicator, then you still have a lot to learn from forex trading (although we all keep learning!).
If you would like to learn more about my automated trading systems and how you too can benefit from trading long term profitable systems with realistic profit and risk targets please consider buying my ebook on automated trading or subscribing to my weekly newsletter to receive updates and check the live and demo accounts I am running with several expert advisors. I hope you enjoyed the article !
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