In this post I will be reviewing the Power Trader manual forex trading system developed by the LeapFx team who have a range of commercially available forex robots and manual forex trading systems. You can see some of them in my forex robot reviews.
Power Trader is a forex trading system for the MetaTrader 4 trading platform that uses custom indicators that generates trading signals based on the ever-changing market conditions.
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.
Power Trader Trading System
Power Trader gives signals based on easy to interpret indicators that combine a trend strategy with overbought / sold indicators, thus you can enter in to trends on pullbacks or jump into trends as they begin. It also includes a filter to try and avoid potentially bad trading signals.
Ideally, I would want to cut my losing trades short and let my winners run. I would want a risk to reward ratio of at least 1:3 where my winning trades are 3 times greater than my losing trades. I may even use a break even to lock in the trade and not let a winning trade turn into a losing one.
As with any forex trading system, I would make sure that there is a good trading plan in place with sensible money management and strict trading discipline.
Power Trader Summary
Power Trader can be used at any time, on any pair and any time frame. It is very flexible and suitable for all levels of traders. Whilst the indicators included are not dissimilar to the default MT4 indicators such as the moving average, macd and rsi, it is nice to have them all packaged together along with instructions on how to use the Power Trader trading system. I would want to practice on a demo account to begin with until I become familiar with the Power Trader system. Full support and a money back guarantee are also included.