Forex Overdrive Review
Forex Overdrive is a multi-market automated Forex trading system that has been designed to deliver both short term and long term explosive growth. To back up this claim, the developers have posted a live account statement on the website showing how a $150 deposit was turned into just over $800 in one month.
The Forex Overdrive uses a dual approach according to the developing team. The first strategy focuses on making fast profits in as short a period of time as possible, which increases the potential to increase your trading pot rapidly. The second strategy is aimed at the more conservative trades with less risk, which will increase your balance over a longer period of time.
The potential for high profits seems to be increased by using the dual approach, along with the frequency of trade. The Forex Overdrive EA trades on the five minute chart with the currency pairs GBP/USD and EUR/USD.
Using Forex Overdrive
The Forex Overdrive system comes with an install program and an easy to follow user guide which makes the task of setting up the system a piece of cake. Following the page by page guide will have you running in no time. The manual gives a brief description of the Expert Advisor settings, as to how you can tweak some functions to adjust the strategy. Some settings to take note of are the take profit, stop loss, and money management, as they give you the ability to add flexibility to your set up.
Apart from this it is just a case of opening the five minute charts on the currency pairs and attach the indicators to start trading.
The developers have made great effort to improve the Forex Overdrive system and the latest version has got a number of updates added. The most notable of these are:
- The Friday trading off function works
- You can set your preferred trading hours
- There is no longer any limit on profits when the trend continue to increase
The Friday off function is a welcome addition as many of us turn off our systems on a Friday to prevent trade entries being affected by lower levels of liquidity and to ensure there are no positions open over the weekend.
The Forex Overdrive system proves to be a very reliable system. Despite the size of the stop loss, this system is sure to be a winner on the Forex market.
The Forex Overdrive system developers have given a 60 money back guarantee on this product. This allows you the use of the system for two months and if not completely satisfied your money will be refunded.
