What Is MBFX system
MBFX System is a semi-automatic forex trading program. It is designed by an acclaimed forex trader with close to 30 years experience in forex trading and is available as downloadable software. The MBFX System is based on the MT4trading platform, and was developed over a period of 25 years, making it one of the forex trading software with the longest research history available. While the software is essentially meant to make forex trading easy, it is not fully automatic, in that it does not make trades for you. But it does have indicators to point you in the right direction so you can know when to get in, when to close the order and when to get out. You, on the other hand, have to make the move to trade.
Who can use MBFX System?
MBFX System can be used by all kinds of traders. It works well for scalpers, day traders and long term traders, meaning anyone can use it. Trading beginners will find it easy to use and a useful forex trading learning platform. However, you should have some knowledge of how the forex market works before buying this software, as it does not support a demo account where you can observe the results of your trade before delving into trading using real money.
What new traders can do is rely on MBFX Signals for indicators on when to buy and sell. Available alongside the MBFX System, MBFX Signals allow you to receive SMS notifications on your phone every time a trade opportunity is available. All you have to do when you receive these notifications is go to your trading platform and take advantage of the trading opportunities. Whether you choose to use the MBFX Signals SMS service or delve right into using the MBFX System, you will learn the foreign exchange trading ropes quite fast.
How MBFX System Works
MBFX System basically tracks the forex market, assessing trends and giving trade signals to you, the trader. The system uses two basic types of indicators: the MBFX System indicator and the MBFX Timing indicator, which the trader has to monitor carefully in order to know which move to make and when. Both indicators are color-coded, so it is a matter of following the chart performance of each code. The MBFX System indicator shows when prices are overbought or oversold, while the MBFX Timing indicator shows the best time to trade.
The MBFX System chart is easy to read and interpret. When prices hit the green line, it signifies a buying opportunity. When they hit the blue line, it is an indicator for you to close the order, then wait and sell when the prices hit the red line. The above is indicated by the MBFX System indicators. Note that the stop loss order level will move in proportional margin to the price movement.
But there is another indicator to watch: the timing indicator. It is located right below the System indicator chart, and its color changes in line with the movements made by the prices. It is easy to make a move (to either buy or sell) when prices are simply trending and not stabilized, and this runs a very high risk of making losses. The MBFX Timing indicator helps you avoid this costly mistake. By monitoring the price action, the timing indicator is able to signal a buying or selling opportunity only after prices have stabilized, thus minimizing your chances of losing money.
MBFX System works in all timeframes, and has a pretty decent risk to reward ratio. The winning probability will certainly depend on the timeframe you use, whether short or long. But in both cases, statistics given by traders who have actually used the software indicate that the winning percentage does not fall below 65% for short timeframes (H1) or 75% for longer timeframes.
It is important to note that eventual winning percentage will be determined by the trading pair chosen. Some pairs will carry a higher winning probability than others, so it is a matter of observing and choosing well, based on proven statistics. Note also that while MBFX System works with the majority of the currency pairs in the market, there are a few exceptions. These are indicated in the software package and will not be available in the software index when you run the program. MBFX System allows you to analyze the market performance as far back as four weeks, giving you a good idea of what the trend has been for any particular pair.
How to Make Best Use of MBFX System
The best approach you can take to MBFX System is using it as a forex signal program. Use it to know when to enter the market and when to leave. Do not rely on it to make trades on your behalf because that is not how it is programmed to operate. The eventual decision to trade or not to trade lies on you, but it will be an easy decision to make since the signals given by the indicators are reliable.
Base your trading decisions on your forex trading experience, level of expertise and investment goals when using MBFX System. If you are new to forex trading, the simplified nature of MBFX System makes it an easy guide to forex trading. If you are an experienced trader, MBFX System provides reliable indicators that you can use to make sound trading decisions.
The forex software comes with a 60-day, 100% money-back guarantee, which you can take advantage of if the program does not impress you in the first two weeks. Experienced traders will easily deduce whether the software works for their trading style within the first few weeks. The decision to keep the software or return to the manufacturer will therefore be an easy one to make at the end of this grace period.
For beginners in foreign exchange trading, the two-month, money-back guarantee period can be used as a learning period, where you simply observe the currency trends without using real money; or if you have to, investing an amount you can afford to lose.
There will be seasons of winning and seasons of losing, as happens in every trading platform. What MBFX System does is reduce the loss opportunity and minimize the extent of loss you are likely to suffer. The longer you use the system, the sharper your trading sense becomes. Consistent use of MBFX System will lead to increased winning trades and break-even trades, as opposed to losing trades. Over time, you will be able to match your trading preferences to the MBFX System working mechanism, thus maximizing your earnings.