BBMAC20 Dashboard Trading System Review
The BBMAC20 Dashboard Trading System is a powerful trading platform designed to help traders identify high-probability setups and execute winning trades. Developed by trader Alireza Yadegar, the dashboard consolidates market data into an easy-to-read interface that signals trading opportunities across multiple timeframes and currency pairs.
Overview of the BBMAC20 Dashboard Trading System
The BBMAC20 dashboard provides traders with a comprehensive suite of tools to analyze the market and find trading opportunities. Key features of the system include:
- Real-time alerts – The dashboard scans 29 chart patterns and trading setups, alerting traders in real-time when opportunities arise. This ensures traders never miss a potential winning trade.
- Multiple timeframes – The dashboard analyzes 8 timeframes simultaneously from 1 minute to monthly. This allows traders to evaluate trading opportunities across multiple time perspectives.
- Market scanner – Scans up to 40 currency pairs to detect trading setups across different markets. This increases the number of potential trades.
- Risk management – Automatically calculates stop loss and 3 levels of take profit for each trade. This implements effective risk management.
- Backtesting – Traders can backtest strategies across historical data to validate performance. This provides confidence in the trading system.
- Customization – Users can fully customize the dashboard to suit their preferences and trading style. This includes timeframe selection, asset selection, color schemes and more.
How the BBMAC20 Trading System Works
The core foundation of the BBMAC20 trading system is the Bollinger Bands indicator. Specific trading rules are defined based on interactions between price and the Bollinger Bands. Some examples include:
- Price closing outside the Bollinger Bands
- The Bollinger Bands squeezing together
- Price touching the moving average line
The dashboard scans for these predefined chart patterns across user-defined timeframes and currency pairs. When a setup is detected, the dashboard generates a visual alert on the chart and can also send push notifications to the user’s mobile device.
The dashboard comes pre-loaded with a library of strategies traders can select from. Strategies include options like “Reentry”, “CSAK” and “Diamond Setup”. Traders can also fully customize strategies by combining different indicators, filters and trade logic settings.
Once a trade is identified, the dashboard automatically calculates optimal stop loss and take profit levels based on the trading strategy, current market conditions and risk management settings. The dashboard can also automate trade execution, allowing hands-free trading directly from the charts.
Benefits of Using the BBMAC20 Dashboard
The BBMAC20 dashboard provides numerous benefits to forex traders:
- Scans multiple currency pairs and timeframes simultaneously
- Alerts traders instantly when setups are identified
- Automates technical analysis and trade identification
- Implements robust risk management on every trade
- Backtesting validates strategy performance
- Reduces emotional trading decisions
Enhances Risk Management
- Calculates stop loss and take profit automatically
- Allows position sizing based on account risk
- Implements consistent risk/reward on every trade
- Fully customizable strategies and settings
- Manual and automated trading options
- Detailed metrics for strategy analysis and optimization
- Intuitive visual interface
- Real-time push notifications to mobile device
- Tight integration with MT4 platform
Using the BBMAC20 Dashboard
The BBMAC20 dashboard is designed to provide an easy-to-use trading platform accessible to all skill levels. Getting started with the system involves a few simple steps:
- Download – Purchase and install the BBMAC20 dashboard on the MT4 platform. Activation is required.
- Add Assets – Populate the dashboard with desired currency pairs and timeframes to scan.
- Select Strategy – Choose a predefined strategy or create a custom strategy.
- Adjust Settings – Modify default settings such as risk management and trade logic.
- Start Scanning – The dashboard will now scan the market and identify trades.
- Get Alerts – Dashboard alerts visually on the chart and optionally by push notification.
- Execute Trades – Manually execute dashboard signals or enable automated trading.
Ongoing tasks involve monitoring dashboard alerts, managing trades, and analyzing performance. Traders should also periodically optimize strategies and adjust settings based on market conditions.
Tips for Getting the Most from the BBMAC20 Dashboard
Here are some tips to maximize success when using the BBMAC20 dashboard:
- Carefully backtest strategies across different market environments before going live. This validates performance.
- Start with the default strategies and settings. Optimize after gaining experience with the system.
- Be selective on which currency pairs and timeframes to include. Too many can lead to over-trading.
- Use tight stop losses at first. Optimize stop loss placement over time.
- Adjust position sizing based on account size and risk tolerance. Never risk more than 1-2% per trade.
- Review dashboard metrics regularly to identify optimal strategies and settings. The data empowers optimization.
- Customize dashboard alerts and notifications. But avoid having too many alerts which can be distracting.
- Stick to the trading rules. Discipline is key.
Benefits of the BBMAC20 Dashboard
The BBMAC20 dashboard provides several advantages to forex traders:
- Saves time – Scans markets systematically to identify trading opportunities. Alerts are sent instantly.
- Enhances accuracy – Backtesting validates strategy performance. Automated risk management improves discipline.
- Risk management – Auto stop loss and take profit generation for every trade. Allows position sizing based on risk.
- Flexibility – Fully customizable strategies, settings, assets, timeframes, color schemes.
- Ease of use – Intuitive visual interface. Integrates seamlessly with the MT4 platform.
- Convenience – Get push notifications on mobile device. Option for automated trading.
Overall, the dashboard provides a streamlined process to execute rule-based trading strategies with effective risk management across multiple markets. This systematic approach can potentially improve consistency and profitability for traders.
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Potential Drawbacks to Consider
While the BBMAC20 dashboard has numerous benefits, there are some limitations to keep in mind:
- Over-optimization – Extensive backtesting can lead to overfitting parameters to historical data. Live results may differ.
- Information overload – Too many alerts can be overwhelming and lead to over-trading. Restraint is required.
- Loss of discretion – Automated setups may not consider fundamental drivers or current market conditions.
- Increased complexity – Dashboard features can seem complicated for novice traders. Steep learning curve.
- Hidden costs – Monthly subscription fees. Advanced features and upgrades usually cost extra.
- Lack of support – Limited ability to contact company for troubleshooting issues or questions.
- Issues with execution – Some traders have reported problems with trade automation reliability. Requires monitoring.
While powerful, the dashboard is not a magic bullet. Discipline in following strategies and managing trades is still vital. The abundance of features also requires diligence to use properly and avoid information overload.
Using the BBMAC20 Dashboard Trading System
Getting started with the BBMAC20 dashboard involves a few key steps:
- Purchase and install the dashboard on the MT4 platform and activate the license.
- Add desired currency pairs and timeframes to scan.
- Select a default trading strategy or create a custom one.
- Adjust settings like risk management and trade execution rules.
- Start the dashboard scanner to identify potential trades.
- Receive visual and push notification alerts.
- Manually execute trades or enable automated order execution.
Ongoing usage requires regularly reviewing performance, optimizing strategies, managing trades, and ensuring the system runs smoothly. Patience is required to master the dashboard’s advanced features.
Costs of the BBMAC20 Dashboard Trading System
The BBMAC20 dashboard is available on the MetaTrader Marketplace or directly from the developer. Pricing options include:
- Monthly license – $40 for 3 months access
- Unlimited license – $80 one-time fee
- Source code – $250 for dashboard source code
The unlimited license provides use on unlimited accounts and likely offers the best value for active traders.
Compared to other commercial trading tools, the BBMAC20 dashboard is competitively priced given its extensive features and customization options. For frequent traders, the cost can potentially be justified by the system’s ability to consistently identify and execute high probability trades across multiple markets.
BBMAC20 Dashboard Trading System Conclusion
The BBMAC20 Dashboard Trading System provides traders with an arsenal of tools to systematically scan markets for trading opportunities and execute strategies. The highly customizable dashboard can improve efficiency, discipline, and potential profitability.
However, the abundance of features also comes with complexity. Traders need to invest time to properly utilize the dashboard and avoid common pitfalls like over-optimization and over-trading. Discretion and diligent monitoring is still required when using the system.
Overall, the dashboard can be a valuable weapon in a trader’s arsenal. But like any weapon, skill and care is required to use it effectively. The BBMAC20 dashboard is best suited for experienced traders willing to master its advanced functionality through practice and patience.