In this post I will be reviewing the very basic Four Figure Forex manual forex trading system for the popular and widely available MetaTrader 4 trading platform. The success of trading with the Four Figure Forex trading system will probably depend greatly on your trading discipline and money management. I would want to use one of the best forex brokers for the best possible trading conditions which can save on trading costs with low spreads, low commissions and fast execution.
Four Figure Forex Trading System
The Four Figure Forex is a manual forex trading system in the form of indicators that you attach to your currency pair charts in MT4. You can run Four Figure Forex on any currency pair and any time frame that you wish.
I personally prefer the major currency pairs such as the EURSUD & GBPUSD as I find that they tend to have the most liquidity and thus can lower my trading costs whilst making some good moves on a daily basis most of the time.
I also prefer the higher time frame such as 1 hour charts and above as I find that these time frames can filter out a lot of the noise that lower time frames can have.
That being said, if you want to scalp or take intra-day trades, you can use any time frame you wish.
Whilst the Four Figure Forex system is easy to trade, it is also a very simple system that you could get by simply adding 3 moving averages to your charts and a stochastics oscillator – that is essentially all this system is.
So, you could save yourself the purchase price and use the default technical indicators included with MT4 to spot trends and pullbacks into them – that is in a nutshell what Four Figure Forex does!
The developer shows examples on 1 minute charts that are perhaps cherry picked because you will often see trends come and go very fast on 1 minute charts which can lead to you getting chopped in and out of the market especially when using the recommended super tight stop loss.
Four Figure Forex Summary
The Four Figure Forex is a very basic forex trading strategy thus it is very easy to use and suitable for novice traders. I would be starting on a demo forex trading account to begin with until I become familiar with the Four Figure Forex indicators and feel comfortable trading with it.
You could even just not purchase Four Figure Forex and use the trend / oscillator indicators included with MT4. Most importantly, I would make sure that I have my money management in check so that winning trades outweigh losing trades.
The Four Figure Forex system comes with instructions, support and a money back guarantee.