In this post I will be reviewing the Forex Pips Magnet Indicator. As the name suggests, this manual forex trading system aims to attract pips from the market by giving you signal alerts in the form of arrows for trade entry and exits. The Forex Pips Magnet Indicator is a trading indicator that runs in the free to download MetaTrader 4 trading platform which is provided by nearly all forex brokers worldwide. You can start trading with the Forex Pips Magnet Indicator in a demo account to begin with until you become familiar with how it works. Whatever level of forex trader you are, the Forex Pips Magnet Indicator is extremely easy to use. You simply attach it to the currency pair charts and timeframes that you wish to trade and it will give you trading signals.
Forex Pips Magnet Indicator
The Forex Pips Magnet Indicator is a very flexible manual forex trading system as you can use it on any forex currency cross that you prefer and also on any timeframe. Thus, this makes it suitable if you want to scalp the market for a few pips or hold trades for longer (swing trade) and shoot for more pips. Personally, I believe that the signals on the longer-term timeframes like the 1 hour charts and above will be more reliable and also means that you have to spent less times watching the charts. The Forex Pips Magnet Indicator even includes email, SMS and pop up alerts when there is a valid buy or sell signal so that you do not have to stare at a screen all day! You can add your own additional technical analysis, fundamental analysis and price action analysis to filter trades if you wish. You can also use an opposite signal as a point of exit for an existing trade. Just make sure that you use a sensible risk to reward ratio and aim for winning trades to be greater than losing trades. That way, even with a win rate less than 50%, you can still be profitable. A HUGE part of trading is discipline and money management so make sure that you stick to the trading plan you have set out when using the Forex Pips Magnet Indicator. This forex trading indicator will work best in trending markets on major currency pairs such as the EURUSD & GBPUSD.
Forex Pips Magnet Summary
Overall, the Forex Pips Magnet Indicator can give manual forex trading signals with high probability although you should use it on the higher timeframes for the greatest accuracy. Also, try not to take every single signal as you do not want to overtrade and certainly wouldn’t want to take a buy trade if a signal appears at a new peak of the chart – that would be buying into an overbought market. Try to buy low and sell high! It includes easy to follow instructions, full support and a money back guarantee.