Strike Trader Elite Review (Signals)

Strike Trader Elite is a Forex trading system, indicator, training program and signal service all in one. The creators believe that their approach can provide traders with “signals at a near 70% accuracy on any time frame.” It’s compatible with MetaTrader 4, MetaTrader 5, TradingView and NinjaTrader platforms. Today we will be providing a detailed review and analysis so you know whether or not this system is worth your time.

The system is created by Trading Strategy Guides, a Forex development company located at Latrobe, PA. 816 Ligonier St. Latrobe, PA 15650. Over the past few years they’ve created multiple courses and trading indicators including the EFC Indicator, and Fibonacci Golden Zone Indicator which we have already reviewed. Their products are coded well and come with a fair amount of product support after purchasing, but this does come at a higher price than their competitors.

In order to get in touch with support, traders can email info@tradingstrategyguides.com or call (724) 374-8352.

Strike Trader Elite Review

One of the main fundamentals of the Strike Trader Elite system, is that it works for all markets, time frames and trading styles. This can be both a positive and a negative, as systems that promise it all, frequently fail to have a specific enough strategy to succeed. In this case, we shouldn’t have to be concerned with that being the case, because the vendor does provide training and a specific “trading system use” video in the members area.

In addition to the members area videos, system also comes with “screen shares, one on one coaching calls, and live chat.” This is certainly a step above most other Forex systems we review, and will have to make us consider adding this to our best Forex indicator list.

Strategy

Despite providing us with a longform sales page, the Strike Trader Elite strategy isn’t discussed in any real detail. It’s really quite surprising that the vendors don’t provide any specific details about their trading approach considering the large amount of information they do provide. Sadly, a lot of the information provided is fluff and while it may sell products, it doesn’t exactly resonate with a seasoned trader.

We are told that the program works on 8 different pairs, and shown a couple sample trades, but not enough to really get an understanding of the underlying methodology.

There are 3 modes the software can be set to, a scalping mode, a day trading mode and a swing trading mode. Each mode provides a different signal frequency, risk level and chart analysis time. Though, again we don’t get exact details about the system and how each of these modes are meant to be traded.

The vendor needs to provide a little more transparency upfront about their trading strategy.

Analysis

• Type: Forex Indicator / Signals
• Price: $99/Month
• Strategy: Multiple
• Timeframe: All Timeframes
• Pairs: GBPAUD, GBPJPY, EURAUD, GBPCHF, or, USDJPY, EURJPY, GBPUSD, USDCAD

Considering the extra care provided with the Strike Trader Elite system, it’s no surprise that it’s priced high at $99 per month. This high price is undoubtedly due to the training course, the telegram signal service and the one-on-one coaching calls. It’s a little higher than we like to spend on anything, but if you are going to get one-on-one coaching and screen shares, you are going to have to pay extra.

Trading Results

Much our surprise, the Strike Trader Elite system does not come with any verified trading results. The vendor provides winning percentage results based on backtests, but even these results are shrouded by uncertainty because the back tests aren’t provided.

Considering the vendor provides a telegram signal service, there is really no excuse why they can’t have verified trading results based on the signals in that service. If they want to compete in this market, especially the price point they are charging, they are going to have to provide a Myfxbook account to verify their performance.

Conclusion

For the most part, we like what we see from the Strike Trader Elite system. It’s clear that the Trading Strategy Guides team has put a lot of effort into the product, especially with their one on one support calls. That being said, they are lacking transparency when it comes to their strategy and trading results, which are nonexistent at this time. Hopefully these issues can be resolved, and then we will revisit our review.

Until then, please leave your comments and questions below the review now.