An In-Depth Review of the Blue Mode Dollar Chaser System Forex Trading Software
The Blue Mode Dollar Chaser System is an innovative automated trading system for the MetaTrader 4 (MT4) platform that integrates a range of profitable trading strategies. This review will provide an in-depth analysis of the features, accuracy, and performance of this software to help traders evaluate if it’s the right solution for their needs.
Overview of the Blue Mode Dollar Chaser System
The Blue Mode Dollar Chaser System is designed to generate automated buy and sell signals across major Forex currency pairs, Gold (XAUUSD), and stock market indices. It transmits these signals directly from the MT4 platform on your PC to your mobile device for convenient monitoring and management.
This versatile system incorporates a mix of strategies, including:
With its combination of indicators that identify trend momentum, reversals, and entry/exit points, the Blue Mode Dollar Chaser System aims to provide a high accuracy rate of close to 100%.
The software has a user-friendly interface suitable for beginner traders, while also offering customization options for more advanced users.
Key Features and Benefits
Here are some of the main features and advantages of using the Blue Mode Dollar Chaser System:
The system generates automated trading signals, eliminating the need for manual analysis or intervention once configured correctly. It handles identifying opportunities, entering trades, setting stop losses and take profits, and closing out positions.
The intuitive interface and setup process makes this software accessible even for new traders with no prior experience. In-depth training materials are also available from the vendor.
Signals are transmitted directly from the MT4 platform on your home PC to your smartphone. This allows you to monitor trades easily while on the go.
By combining several profitable trading strategies and indicators, the system aims to provide a high accuracy rate for signals. However, past results do not guarantee future performance.
Flexible Markets and Timeframes
The software can trade major currency pairs, Gold, and global indices across a range of timeframes from 1 minute up to 1 month. This variety allows it to capitalize on opportunities in different market conditions.
The vendor provides ongoing updates and improvements to maintain profitability as market dynamics shift over time.
Performance and Accuracy
According to the vendor, the Blue Mode Dollar Chaser System has an accuracy rate of almost 100%. However, it’s important to take vendor accuracy statistics with caution, as past performance does not predict future results. Real-world accuracy can vary based on proper configuration and testing across different market conditions.
From analyzing trader reviews and reports, the system does appear to provide a strong accuracy rate above 80%-90% when used correctly [][]. Numerous traders comment on the high accuracy and profitability across timeframes ranging from 1 minute scalping up to long-term swing trading.
Of course, no trading system can be 100% accurate 100% of the time. There will inevitably be some losing trades. By using proper risk management, traders should aim to maximize profits from winning trades while minimizing losses on losing positions.
Using the System Effectively
Here are some tips to use the Blue Mode Dollar Chaser System effectively:
Demo Test Extensively
Take time to thoroughly backtest and forward test the system in a demo account across different market conditions to understand performance and accuracy.
When moving to a live account, trade small position sizes initially to avoid risking too much capital while you continue evaluating the software.
Use Good Risk Management
Set appropriate stop losses, use responsible position sizing, and don’t risk more than 1%-2% of capital per trade. This will help manage any losing trades.
While default settings can work well, take time to go through all options and fine-tune parameters for your trading style and market conditions.
Make sure to keep the software updated to ensure you have the latest version with optimal performance as markets evolve.
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Blue Mode Dollar Chaser System Costs and Pricing
The Blue Mode Dollar Chaser System is sold through various authorized vendors, with some differences in pricing:
- Forex EA Store: $100
- Forex EA Shop: $14
- ForexRobotEA: $100
Shopping around can save substantial cost on the software license. Additional costs include:
- MetaTrader 4 platform (free or bundled with a Forex broker account)
- Virtual private server (VPS) for uninterrupted trading connectivity (approx. $20+ per month)
- Trading capital to fund a live account
With the ability to automate trades across multiple currency pairs simultaneously, the system has the potential to generate a return on investment relatively quickly, even at the higher price point. But as with any EA, profitability is not guaranteed.
Blue Mode Dollar Chaser System Verdict
The Blue Mode Dollar Chaser System provides an intriguing option for traders seeking an automated day trading solution with high accuracy claims. While treating vendor accuracy statistics cautiously, real-world reports do indicate solid profitability.
For the current discounted pricing available, this software warrants consideration for novice and experienced traders alike. As with any EA, take time to extensively test and fine-tune it for your specific needs to maximize potential returns. Use good risk and money management to protect your trading capital as well.