“Finally, a time-tested Forex trading system, with DOCUMENTED PROOF, that has the potential to turn $1,000 into $1,000,000 in just 24 months.” This is the claim that Adam Burgoyne boldly makes for his 5EMAs Forex System on the front page of his website. Maybe this might be an achievable claim to make if it were aimed only at trading veterans, but is it realistic to think that a beginner could actually accomplish this too? This 5EMAs review will attempt to answer that question.
If as a beginner you’re serious about forex trading, then you need to take the time necessary in order to learn the ins and outs about trading the forex market in the real world. It may take a few months of paper trading or actual online trading for the beginner to gain enough experience in trading the forex market before he feels comfortable making trades. So, don’t expect to hit the ground running right out of the box. Expect that you’ll need to give yourself some time to gain the requisite knowledge and experience of in-the-trenches trading.
One thing about this program that will help speed up this process is the availability of an Expert Advisor, which will alert you whenever it identifies the criteria for an entry. By setting the timer you can get alerts before a potential trade is imminent. You will need to have the MetaTrader4 charting platform, which is available in a free download, in order to properly use the Expert Advisor. By confirming that all the rules for a successful trade have been met according to the 5EMAs system, you will have complete control over your trading.
The EA feature can save the inexperienced trader much time and independent analysis. It can also be set for longer term trading possibilities for those who are not able to sit and monitor a trading period throughout the day. This feature allows those who would like to transition from their day jobs to full-time forex trading a real possibility. Combining the use of the Expert Advisor with a proper review and comprehension of the trading rules it applies to the trades it identifies will assist the beginning trader in speeding up his learning curve.
The 5EMAs refers to the exponential moving averages of recent price changes in the market. One important consideration that a beginner needs to be aware of when using exponential moving averages is that while EMAs are generally more sensitive than a simple moving average (SMA) and therefore generate more signals, there will also be an increase in the number of false signals and whipsaws. Being able to tell when these are likely to occur is something that comes only with experience in trading the market. No matter how good a system may be, no system is perfect all the time.
That said, this system has the potential to earn a great deal of money in forex trading. With the proper approach, using care and consideration, even a beginner can make steady money in trading the forex currency market.