In this post I will review the Forex Olympus manual trading system from Rita Lasker. Forex Olympus has been designed to be used in the ever popular MetaTrader 4 (MT4) platform which you can download for free from most online forex brokers. You can even get a free demo trading account if you wish to practice trading with the Forex Olympus system until you become confident and produce consistent results.
In order to use this forex system, you will need a trading account with a forex broker. 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.
This particular forex system can be used by both beginner and advanced traders. It is very user friendly and comes with easy to follow setup instructions and trade examples for clarity on how to use it to its full potential.
Forex Olympus Trading Strategy
The Forex Olympus system is equipped with a unique trading algorithm that will provide you with optional buy and sell signals. There is a “Trend Power” feature which will show you the percentage of how strong the current trend is according to the underlying algorithm.
In order to fit your personal trading style Forex Olympus makes it possible to choose one of its three modes; moderate, neutral and intense.
Forex Olympus has a smart notification system that works in 3 ways and will alert you about every trading signal so that you will never miss an opportunity. The alerts are sent via SMS, email or platform pop-ups. This is handy as it means you do not need to constantly stare at charts waiting for signals to appear whilst it gives you the opportunity to monitor multiple charts at the same time.
When you receive a signal from Forex Olympus, you can choose to take it as is or to add your own analysis to further confirmation. You do not of course have to take every signal if you don’t want to. I would personally filter every single signal with my own market analysis.
Forex Olympus can be used on any forex currency pair or other trading instruments that you have in your MT4 platform. Other assets frequently traded online include stocks, indices, commodities, cryptocurrencies, precious metals, oil, gas, etc.
I would prefer to trade on major FX currency pairs such as the EURUSD and GBPUSD as I tend to find that they have some of the tightest spreads and most liquidity available, especially if using a reliable ECN forex broker.
The Forex Olympus system can run on any chart time frame that you wish, from 1-minute through to 1-month charts. It can be used for scalping, day trading and swing trading. I prefer to trade on the long-term charts as they can help to filter out some of the noise that can occur in the lower time frames, thus making it easier for me to spot trends and ranges.
Forex Olympus Summary
Overall, I believe the Forex Olympus manual trading system is very basic yet easy to use and also flexible. It can cater to many different trading styles and experience levels.
I could probably be able to come up with something very similar by just using the indicators already freely available in the MT4 platform and that is just being straight up!
For me the key to success using Forex Olympus would be to have a good trading plan in place, primarily sensible money management and bullet proof trading discipline.
I would only take trades that present a favourable risk to reward ratio so that the losing trades don’t wipe out the winners. Ideally, I would want a 1:3 ratio on each signal that I decide to take. Patience and discipline will be required as with any forex trading system.