Forex Trendy Review: Trade the Trends and Make Profit!
Forex Trendy Review: Trade the trends and profit!
I come from a finance background, and I have been dabbling in trading ever since I made my first buck. Forex is my favorite trading tool as it is super dynamic, fast and somewhat stable if you know what you are doing.
As a Forex Trader, this is a question that I hear asked very often:”Which Forex pair and time frame is best to trade?”
I stumbled upon a software that claims to provide answers to that question, and hence I decided to write this Forex Trendy Review.
In this post, you will learn what the Forex Trendy Indicator program is, how it works, the pros and cons of using it, and hopefully help you with the right decision to use it or not.
Before you go on, you might be interested to visit the official website to watch a short video presentation first.
Product information and summary
Effectiveness
Highly effective with over 90% accuracy rate
Useability
Easy to follow as the process is automated and you get alerts
Pricing
Very well priced, and backed by 60 days guarantee
Overall
Excellent forex trading tool especially for beginners and intermediate traders
What is Forex and do you want to learn how to trade it?
In the world of trading, there are a ton of markets that are available to the retail investor, from stocks to bonds, ETFs to indexed funds.
One of these trading options is the Forex market, which at over $5.1 trillion, is the largest financial market in the world.
That presents lots of opportunities for you and I as a retail investor, and the Forex Markets never sleep, operating almost 24/7.
If you are a trader, learning how to trade forex can be extremely lucrative, and it certainly helps if you have access to a scanning tool that can alert you to trending pairs and other parameters.
This where the Forex Trendy System comes into the picture, so do read on to learn more!
Creating a trading plan
No matter which stage of the trading game you are in right now, I highly advise you to first set up a trading plan before jumping right in.
A trading plan can keep you on the right course, and prevent you from taking any unnecessary risk, which can lead to a wipeout of your funds. I’m sure you don’t want that happening right?
So how do you create a trading plan? Prepare a written document and be sure to include the following points at the very minimum:
Your motivation and goals. Why are you doing this and what do you seek to achieve?
Time. How much time can you set aside each day or each week to monitor the market and execute trades?
Figure out your risk tolerance and limit. How much downside can you tolerate and what is the risk reward ratio that works best for you? Most people start with a ratio of 1:3, which means that you are willing to risk $1 for a return of $3.
Capital to set aside. Decide on the total amount you can set aside comfortably to trade. Please don’t make the mistake of staking your entire savings. If you do not know how to manage your money, you need to hit the back button now.
Your knowledge level. How much do you know about the Forex Market? Attend a free course to brush up on your knowledge first before attempting to trade. Learn important tools such as stop orders which can limit your risks.
Documentation. Together with your trading plan, I recommend that you keep a record of every single trade that you made. This way, you can look back and learn from your mistakes and figure out how to do things better the next time.
The trading plan can be crucial to your survival in this roller coaster of a market, so make sure you are ready!
Below are a few books that are excellent reading for all traders.
Practise before you start
There are lots of brokers out there that provides a free virtual trading account where you can practise your skills. Typically you will be “given” some virtual money where you can then start to place trades.
Make use of this free account as a training ground as well as testing out the strategies that you have devised and learned. This is also a great place for you to test out Forex Trendy Indicators and how to use the software properly.
Read all the directions and manuals first to get a good understanding of the software, and make trades based on the indicators. These dry runs are very important and will contribute to your overall success, so do not skip this step.
Although it is very exciting to dive head first into the Forex pool, you want to make sure there is water in it before doing so.
I have learned one very important lesson over the years, and that is your success depends on the amount of mistakes you make. Let’s be perfectly clear here. You will have bad trades and lose money. The only way to succeed is by cutting down on bad trades and improving your good ones.
This is the reason why you need a trading plan and documentation to remind yourself on what works and sticking to the plan.
What is Forex Trendy Scanner?
As we discussed earlier, Forex is a huge financial market, and therefore it shouldn’t come as a surprise to you that there are lots of “money making software or automatic robots” out there that claims to be able to make you money even while you sleep.
Well my friend, sorry to burst your bubble but there is no such thing in this world. If such a software exists, the owner would never release it and certainly would not share it with you.
What exist are software that can lend a hand to you, to give you an edge, and to make things simpler.
Forex Trendy is a monthly subscription-based trading software tool that automatically scans 34 commonly traded currency pairs (as well as silver, oil and gold) across all pertinent time frames using their own proprietary algorithm.
This is supposed to help traders find those that are trending the strongest and let you get a good feel of the market conditions. If you haven’t heard this before, “The Trend is your Friend”.
There is also a feature which tracks high probability trading set ups (such as triangle, flag and wedge formations) as they form on the charts.
Take note once again, the software does not trade for you, and only gives you signals. The execution is still controlled and determined by a human, that is you.
Who created Forex Trendy
The Forex Trendy trading software is created by a team based in Singapore, which is one of the key global financial hubs.
A check with the team there reveals that they come from similar backgrounds in forex trading and software engineering.
The software has been around for over 5 years, and garnered a huge following and lots of positive reviews from its subscribers.
It would have been better if the owners choose to talk more about themselves on their website.
Who is Forex Trendy for?
My opinion is that Forex Trendy is most suitable for beginner to intermediate traders. For beginners, it can be very scary trying to read charts and make sense of all the data that appears on your trading software screen, be it MT4 or custom software from your broker. I haven’t even started talking about Bollinger bands and stochastics, my friend.
For intermediate traders, you might still be finding your feet, or exploring ways to improve your skills and maximising your profits.
Whichever group you fall into, you can certainly benefit from a trend scanning tool that is available at a very low price. The interface is easy to understand and use, another benefit for all kinds of traders.
How does Forex Trendy work?
There are several types of forex traders, and in general they are either scalpers or swing traders.
Scalpers are very short term traders, typically going in and out of a position within minutes. As you can imagine, this kind of trading is highly stressful and frantic, and I personally do not trade this way.
Swing traders on the other hand hold on to their positions for longer terms, typically days or even up to weeks.
I like this method way better as it allows me to follow and ride the long term trend and increase my profits over a longer sustained period. Don’t listen to me if you will. Large banks and hedge funds do this all the time too.
So Forex Trendy is suitable for long term traders, who pay attention to both technical and fundamental analysis. This removes short term volatility and is less stressful compared to a scalper.
By using Forex Trendy, you can identify trends that are high potential and trade the trend, i.e. following the trend. Also, you will get alerted to patterns such as triangles, wedges and flags that are emerging, which you can monitor and get in on the action once you are certain of the direction it is moving.
The software is designed so that you can scan and monitor thirty four currency pairs, and you can set the time frame to be sixty seconds up to thirty days.
As it analyses these currency pairs, it looks out for breakout patterns and gives suggestions on the most profitable pairs.
No more trading during uncertain market periods!
Key Features of Forex Trendy
Trading modes
Once you fire up the software, you get to choose 3 different trading modes:
- Easy term (for beginner traders)
- Medium-term (most recommended trading mode)
- Advanced term (for experts and professionals; I did not test this out)
Automatic Research
The Forex Trendy software runs on an algorithm that works non stop to perform research for the user. It is easy to set up and from then on, you simply let the software do its job.
Forecasting and live charting
With the software, you are able to monitor charts that are being scanned continuously and always updated.
It doesn’t matter. what time and which part of the world you are in, you will be getting live feeds.
This ensures that you are getting up to date information about the markets and the prevailing trends so that you can make the right decision while executing a trade.
If you are using the standard trading software provided on your broker’s platform, you will usually not be able to get such information.
In fact, this is something that most amateurs and beginners will not have access to. With Forex Trendy, this gives you an advantage and saves you lots of precious time when it comes to analysis.
Configure alerts
Obviously you will not be sitting in front of the computer monitoring every single second of the day. Therefore, the ability to set alerts is very important for you the casual trader.
Upon reaching preset price points, you will receive notifications through email, SMS or directly on your dashboard, which is very useful as you can take action the moment you receive such information.
Remember to setup your email to receive push notifications whenever a new mail arrives.
Easy to use Interface
I am someone who is very particular in user experience and interfaces. A poorly designed interface turns me off and I lose 50% of my interest the moment I see one.
The Forex Trendy interface is pretty well designed. Even though it is not the most modern looking, the functionality more than makes up for it.
Firstly, Forex Trendy is cloud based, which means that you can access it from anywhere in the world as long as you have an internet connection. You do not need to install any clunky software on your device and be restricted to it.
Secondly, it is really easy to play around and figure out what button does what. Navigating the controls is a breeze, so credit to the designer who made live easy for us.
Another plus point is that you can choose to integrate it with MT4, NinjaTrader or TradeStation, which are probably the most widely used platforms by all traders.
Trustworthiness and support
After testing it out in a virtual account for a couple of weeks and testing in on my real account for about a month, I do find that the claims of a 90% accuracy rate is pretty real.
My disclaimer here is that I only executed less than 10 trades in this period, as I only allocated a couple of hours each week. Well I do have other jobs at hand.
The software has been able to identify trending pairs consistently and I must say I am quite impressed.
In terms of customer support, I did reach out to them and responses came within the 6 hours SLA they promised. This however is not a plus in my book. Real time response is important as that is the nature of trading.
Luckily, the effect is not really big as Forex Trendy is just an indicator, and not a bot that takes action for you. Support responsiveness does not really affect my trades.
Limitations of Forex Trendy
As with all good things, there are a few drawbacks you need to be aware of.
These factors does not mean that the software is not good, but rather an important reminder to all traders about the reality of trading.
Firstly, you need to be very clear this is just another tool, much like technical analysis, calculators, news, or any other tool out there. This means it is here to help you come to a decision, rather than make the decision for you. At the end of the day, you will need to pull the trigger yourself.
Secondly, you have to put in time to educate yourself. If you don’t put in effort to learn about forex and hope that it is a get rich quick scheme, you are horribly wrong. My favorite place to start is BabyPips.
What is the pricing of Forex Trendy?
Forex Trendy is available only as a subscription. When you sign up now, you pay $37, which gives you access for 3 months. The recurring fee is the same at $37.
If you ask me, this is super cheap. It is less than $0.42 per day, an amount you can easily make back with your first trade.
The fact is, this program is really unique and with this rock bottom pricing, it should feature in every forex traders playbook.
Don’t believe me? Try checking out the pricing of other tools in the market that offers the features Forex Trendy provides. My guess is you will come up blank and return here.
What will you be getting in the program?
Forex Trendy is a software that you will access from a web browser. There is no education material or training associated with it.
Once you sign up, you get access to the platform immediately and also all the features found in it.
Here’s a list:
- Real time updated charts of up to 34 currency pairs
- Auto research and analysis of forex pairs
- Alerts
- Patterns recognition
On top of getting the software, you will get a bonus ebook titled “Understanding the Myths of Market Trends and Patterns” that you can get on Reviews Mill for free even without buying the software. To access it, you can download it here.
It is quite basic, but it gives you a good introduction to the forex market, and more importantly to understand how trends and patterns work. My advise is, don’t depend on this book alone.
Choose a learning platform you like and stick to it for a period of at least 3 months. You don’t want to make the mistake of information overload and end up not being able to trade properly. As I mentioned, I use BabyPips.
Product review: Pros and Cons
Access the platform anywhere in the world as it is web based
Very well priced compared to other tools in the market
Simplifies the entire trading process by pointing out trends and patterns that are forming
Reduce your time spent researching
Being able to trade the trend effectively reduces risk
The user experience is good and easy to navigate around
Integrates with other tools such as MT4
Ability to monitor up to 34 currency pairs, which is great for beginners and intermediate traders
60 day Money back guarantee
Need to have live support, but no critical at this juncture
No forex training included, but you can find tons of it online
How is Forex Trendy different?
Since there are so many trading software out in the market, what is it about Forex Trendy that deserves an investment?
As I mentioned earlier, don’t fall into the trap of buying some program that claims to make you money even while you sleep, or without lifting a finger.
I can say for sure they are usually scams.
How Forex Trendy differs is that it guides you towards making a decision based on analysing prevailing market trends and conditions, thereby reducing your risk.
Instead of thinking about getting a robot that trades for you blindly, think of Forex Trendy as an advisor.
Think about this: If you had an advisor beside you right now, and he tells you the market is experiencing an uptrend, and he gets it right about 90% of the time, would you listen to him? And would you pay him a small amount of money for that information?
That’s where Forex Trendy shines: its accuracy and simplicity.
Free bonuses
I think the price for the software is a big plus and is super value for money. If you are hesitant to proceed, at least get yourself my free ebook for some reading and research.
If you think forex trading can be good for you, come back here to sign up for Forex Trendy at a special price.
Bonus - Free eBook
"Understanding the Myths of Market Trends and Patterns"
Forex Trendy Review: Conclusion
I highly appreciate that you made it all the way to the end here.
You can probably tell that I am quite a fan of this software. It is really hard to emphasize how easy it is to make use of this handy tool, except to try it out on your own.
A lot of new traders will fail, and a lot of these people will give up. I certainly hope you are not one of them, because with Forex Trendy, you now have access to a valuable tool.
Making money with Forex is definitely achievable, as long as you stick to your plan, test it, and reduce your mistakes.
There is a 60 days money back guarantee, so if it doesn’t work out for you, you can simply return it for a full refund.
Look, we as traders want to make money, and if there is a tool that can help us with that at a high success rate, I don’t see why not try it out.
Go for it or not, I wish you the greatest success in your investment/trading journey.
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