So as promised in my last post I was going to share with you a great trading tool that I have been using for a while, and I must say so far I am quite impressed. This trading tool not only helps me to quickly identify whether a particular forex pair is trending but it also helps me to objectively pick a sweet entry point to get in.
The system or tool that I have been using to assist with my forex trend trading is called Andrew’s Forex System. The creator of the system is Andrew Sarraf. What I love most about this system is that it fits my particular trading style and my particular trading preference to a tee.
First of all the Andrew’s Forex System uses the 4 hour charts to identify potential trade setups. If you have been following my blog you will know that I am a big fan of trading from the daily and 4 hour charts. I believe these higher time frame charts provide the most “stress free” form of trading, are the least time intensive, and ultimately the most profitable. If you check out Andrew’s Forex System (links above) you will see that he recommends using the indicators on the 4 hour charts. 4 Hour charts are great because in my opinion they provide a great balance between frequency of trade entry opportunities and reliability of the entry signals.
On his sales page Mr. Sarraf points out that Andrew’s Forex System is great because it is reliable, consistent, provides a system for people with very little time to analyze or sit in front of their charts every day.
I have been using Andrew’s Forex System for quite a while now and I would have to say that I agree with all of these claims so far. Now you and I both know there is no such thing as a “holy grail” forex system. There is no system on the planet that is going to give you 100% profitable signals, and anyone who tells you otherwise is lying. But so far I have found that when used properly, the signals that this system is providing fairly consistent winners, and the system is profitable especially when using a 1:2 or more risk vs. reward target.
The other part of his sales page that I would agree with is that the system is fantastic if you don’t have a ton of spare time. Let’s face it, most of us our very busy. Most of us don’t have the luxury of spending hours per day analyzing our charts and placing trades. Personally, using the Andrew’s Forex System indicators I am only spending 20 – 30 minutes per day tops. I usually check my charts quickly in the morning before I am off to start my day, and again in the evening after supper.
You see this system is basically identifying stable trends on a forex currency pairs that have been in place for 3 weeks or more. The system also helps you identify the “sweet spot” to enter with the trend after there has been a small retracement. The system provides an objective non-repainting signal to identify the optimal entry point. In turn this provides the best chances of a high probability and good risk vs. reward entry point.
Not only does Andrew’s Forex System provide you with your optimal entry points, the Pdf manual provided with the system, offers suggestions on optimal stop loss placement and take profit levels. Generally I have been using a 1:2 risk vs. reward so that even if only 50% of my trades are successful I am in profit over the long term.
In my next review post for Andrew’s Forex System I plan to post my own video showing a live trade example. But I thought for now I would share with you a nice video review by AtradingPlan.Com below. I think they also do a pretty nice job of highlighting the strengths of this system.
As with any system you cannot just blindly take any and all signals generated by the system. You will still need to use a bit of common sense, and that device between your ears to avoid low probability set ups. But having said that I honestly believe the Andrew’s Forex System offers a great low cost strategy to trade with the trend. So far I have found that when his system is used properly it has been profitable and fairly reliable. I would definitely recommend aiming for at least a 1:2 risk vs. reward, and with the trend on your side you will find that price will often hit your TP level! You just need a bit of patience.
Well that’s about it for Part I of my review of Andrew’s Forex System. If you are looking for a nice way to make steady consistent gains in the Forex market I would strongly recommend you give this one a look: Andrew’s Forex System.
You can Check out Part II of my Andrew’s Forex System Review by clicking here.
Have a fantastic weekend!
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