In this post I will review the Forex Stryder Strategy which is another manual trading system that has been developed for the MetaTrader 4 platform which you can download for free from most online forex brokers.
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.
The system can be utilised by both beginner and experienced traders. You may wish to take the trading signals that the Forex Stryder Strategy generates as they are or to include your own additional markets analysis.
All that is required is that you have an MT4 trading account and the MT4 desktop platform to load the indicators on. You may wish to practice with the Forex Stryder Strategy on a demo account to begin with until you familiarise yourself with how it trades and produce consistent results.
Forex Stryder Strategy
The Forex Stryder Strategy can help traders to quickly and accurately identify the direction of the trend. The indicator combines price action and multiple sophisticated market timing algorithms to determine these significant turning points in the markets.
Once the Stryder Strategy has spotted a trend change, it clearly displays these Buy or Sell alerts on your charts, thus showing you exactly where this may occur.
You can set the software to send you alerts when it finds a signal which is useful as you do not need to stare at the charts all day long and can monitor multiple instruments and time frames simultaneously. This includes Popup Alerts, Email Alerts, Push Alerts & Sound Alerts.
The Forex Stryder Strategy can be used on any currency pair or other trading instrument including stocks, commodities, cryptos, metals, energies, etc. It can also run on any time frame that you prefer and which fits around your availability.
I prefer longer term charts as they present me with opportunities to catch big moves and mean less time analysing charts.
I also prefer to trade major currency pairs such as the EURUSD and GBPUSD as I find they have plenty of liquidity for good moves and also some of the lowest spreads, especially on ECN forex brokers.
Forex Stryder Strategy Summary
Overall, I would say that the Forex Stryder Strategy is a basic forex system that requires the user implements good money management principles whilst keeping trading psychology in check. This means to remain patient and disciplined without letting fear, anger and greed get in the way of the trading plan.
I would be looking to cut losing trades short and let my winners run, also locking in profits where possible and trailing positions. I would certainly also filter the trading signals that it generates with my own analysis of the currency pair chart.
The Forex Stryder Strategy includes instructions, full support and free updates.