In this post I will be reviewing the Forex Stinger Strategy. This is a manual forex trading system that has been developed to run in the ever popular MetaTrader 4 (MT4) platform. This particular system is very easy to use which makes it accessible to traders of all skill levels.
The instructions provided explain clearly how to setup the system in your MT4 platform and give you a step by step guide on how to read the signals the system provides.
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.
Forex Stinger Strategy Review
The Forex Stinger Strategy gives trading signals including where to open and close trade positions. You can choose to take the trading signals as they are or to include your own additional chart analysis to filter them further.
The main principle of this strategy is to try and identify where trends start and thus to catch big trend movements from the beginning. As they say, “the trend is your friend”!
The Forex Stinger Strategy can be used on any forex currency pair or other CFD trading instruments available from your trading broker which can include stocks, cryptos, commodities, precious metals, energies, etc.
You can also use this system on any chart time frame from 1 minute to 1 month. Therefore, it can be used for scalping, day trading and swing trading.
The Forex Stinger Strategy has multiple built-in alert systems that promptly notify you of new trading opportunities within seconds. Each alert gives you the Currency Pair, Time frame, Price and the signal which was generated on.
You can set alerts to be sent via SMS, email and/or platform pop-ups.
Forex Stinger Strategy Summary
Overall, I see the potential with the Forex Stinger Strategy provided there is some additional analysis to confirm the signals and also good money management in place.
I would personally only take the trades that show a positive risk to reward ratio, ideally of at least 1:3 where a winning trade would be 3 times greater than that of a losing trade. Nothing is more frustrating than 1 losing trade cancelling out consecutive winning trades.
I would look to cut losing trades short and let winning trades run whilst locking in and trailing profits along the way.
The Forex Stinger Strategy includes instructions, full support and free updates.