Forex system trader is a new scalping indicator that claims to crack the currency trading code like clockwork and rapidly break in riveting returns. The developer of the software obviously likes alliteration’s as they also claim to be at the forefront of the Forex frontier.
Today I’ll be doing a brief review and gathering information about this new scalping indicator (forexsystemtrader.com) to see if it is worth our time.
Forex System Trader Review
The Forex system trader uses a VBFX Forex system and Renko candlestick time frames for scalping and position trading. You will obviously have to have a very small spread because some of these trades are as small as three pips.
The strategy for the Forex system trader works like this. The trader will enter a buy below the green value band trend line if it sloping upward. It will then close the trade when the green renko candlestick turns green. Traders will enter sell trades when the red value band trend line is sloping downward and close trades when the red renko candlestick at the bottom indicator turns red.
The strategy itself seems simple enough but there really aren’t any Forex system trader results for us to speak of. There are many examples of trades which show profits over time but there is no real record of trading using the system. They are selling this VBFX software for hundred and $47.
I am not going to give the Forex system trader or VBFX the Forex robot nation seal of approval. While the strategy seems simple enough there are multiple things that stand in its way. Firstly, there is no real trading track record that proves the system is successful in the long term. Secondly, with such small scalping trades you would have to have a broker with little to no spread which is hard to come by.
If you something you would like to add to this review please let me know your thoughts below. As always I appreciate your contributions to Forex robot nation and would love to hear your thoughts on the Forex system trader.