Forex Tracer Review - A Money Making Machine
With the recent increase of activity in the forex market, more and more people find it necessary to get themselves a good forex trading system to handle their trades. Those trading systems look like miracles - they can decide when to enter a trade, how big it should be, and when to exit the trade. One such system is Forex Tracer. It claims to trace profits and good opportunities, apparently, it is not as perfect as presented.
The purchasing process is very simple and secure, and right after that you are directed to a neatly designed page showing you what to do. The download process is very quick, and at the end you receive a zip file with two other files: Forex Tracer itself and an instructions manual.
The installation process is very quick and easy. All you have to do is put Forex Tracer on MetaTrader (free to download), set a few parameters, and the system starts trading. It works on 30 minute charts, so it takes a while, but after an hour or so, depending on market conditions, it begins to open trades.
Overall, Forex Tracer is a very good system from a very reputable provider, NC Media. However, it has a few problems that may harm the trading experience. The most obvious one is the somewhat bad risk to reward ratio. Most traders and trading systems work with risk to reward ratios smaller than one, meaning the reward is bigger. Forex Tracer works with a bigger risk than reward, which leads to some very scary looks at the trading system and seeing big temporary losses. Most of the time, this situation is fixed, and the trade eventually profits.
Another more annoying than dangerous thing about Forex Tracer is its working time frame. It works with thirty minute charts, which means it does not make trading decisions every minute. This is very good for people who want to preserve profits, but people who like the adrenaline and stress of risky forex trading will have to look for other systems.
Conclusion: overall it is a very good trading system that can bring very good results. It can generate profits very well on a trendy market, but when the market becomes flat lined, it can be very irritating to look at the same profit over and over.
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