In this post I will be reviewing the Strike Trader Elite forex trading system for use in multiple trading platforms including MetaTrader 4, MetaTrader 5, Trading View and Ninja Trader. Strike Trader Elite is the latest manual forex trading system the team over at trading strategy guides has developed. It has a backdated testing log and results shown by the developers with trade examples shared on the official website.
When using a trading system such as Strike Trader Elite, money management and trading discipline can be very important. I would ensure that I have a good risk to reward ratio where winning trades outweigh losing trades. I believe it is always best to cut your losing trades short and let your winners run!
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.
Strike Trader Elite Trading System
The Strike Trader Elite forex system is a manual trading strategy in the form of technical analysis indicators that you attach to your charts. These indicators will analyse the markets for what Strike Trader Elite deems as good entry opportunities and give you a signal alert when it finds them. You may then choose to take the signals and use the provided take profit and stop loss levels or you can add your own technical, fundamental and price action analysis to further filter the signals generate by Strike Trader Elite.
It can be used on any currency pair and any time frame although I find that the longer 1 hour charts and above tend to filter out some noise from the lower time frames and catch bigger moves based on my experience. I also prefer the major currency pairs such as the EURUSD & GBPUSD as they can have some of the most liquidity in general thus lower trading costs provided I am using a good ECN forex broker.
Strike Trader Elite can be used any time of the day or night to suit your schedule and the forex signal alerts it gives means that you do not have to sit and stare at charts all day. The signals when they do come are very clear due to the colour coded indicators used. You can use it is a scalping, intra-day or long term trading system, whichever suites your trading style more.
Strike Trader Elite Summary
Overall, Strike Trader Elite is a very flexible and well thought out manual forex trading system that is suitable to all levels of forex traders. It will take some practice to master but full support and detailed instructions along with multiple trade examples are provided. You could perhaps start out with Strike Trader Elite on a demo forex trading account until you can consistently do well, mastering the system and of course your trading emotions. A money back guarantee is also offered.