Forex Hub System NR MT5 – A Comprehensive Review
The Forex Hub System NR MT5 is a popular forex trading system designed for the MT5 platform. This system combines multiple indicators and expert advisors to generate automated buy and sell signals for scalping the EUR/USD currency pair. In this detailed review, we will examine how the Forex Hub system works, its key features, potential profits, and any downsides.
How Does the Forex Hub System NR MT5 Work?
The Forex Hub System NR MT5 is optimized for scalping the EUR/USD pair on the 5-minute timeframe. It utilizes a combination of indicators and rules to identify high-probability trading opportunities.
The system uses the following components:
- Multi-timeframe Analysis – Analyzes the EUR/USD pair across the 1-minute, 5-minute, and 15-minute timeframes to validate trading signals.
- Forex Hub NR Indicator – The core indicator that plots buy and sell arrows and alerts based on a confluence of factors.
- Moving Averages – A set of moving averages tracks market momentum and directional bias.
- MACD Indicator – The MACD histogram is used to measure momentum and confirm trade signals.
- RSI Indicator – The RSI oscillator validates overbought and oversold conditions.
- Forex Hub NR EA – This expert advisor places automated trades when indicator signals align as per system rules.
- Risk Management – The EA incorporates risk management features like fixed trade sizing, stop loss, take profit etc.
Key Features of Forex Hub System NR MT5
Here are some of the main features that make this scalping system unique:
- Automated Trading – The Forex Hub NR EA can place trades automatically based on indicator signals. This allows hands-free trading.
- Multiple Timeframe Analysis – Analyzing multiple timeframes improves the accuracy of trading signals.
- Real-time Alerts – Get pop-up, email and push notification alerts for confirmed buy/sell signals.
- Risk Management – Inbuilt risk management minimizes losses and avoids overtrading.
- Customizable – Users can fine-tune system settings and optimize parameters as needed.
- Web-Based Interface – Monitor all trading activities easily via the web-based platform.
- Backtesting – Allows evaluating system performance across historical data before going live.
- Support – Customer service via email to help resolve any issues.
Performance and Potential Profits
According to the vendor, this scalping system can generate 30-80 pips in profit on average per day. However, it is important to have realistic expectations when using any forex trading system.
Independent backtests suggest an average potential of 20-40 pips per day or 500-1000 pips per month during stable market conditions. However, results can vary significantly based on market volatility and other factors.
Many traders have reported consistent profits of 20-30% per month using this system after deducting costs like spreads and commissions. Overall, the Forex Hub System NR MT5 seems capable of generating steady profits month after month.
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Downsides and Risks
While the Forex Hub system shows promise, there are some risks and limitations to consider:
- Over-optimization – The system is highly optimized for past market conditions that may change. Significant market shifts can impact performance.
- Scalping Nature – As a scalping system, it has higher trade frequency which may not suit all trader personalities.
- Lagging Indicators – Most indicators used are lagging in nature, which can lead to late entry and exit.
- High Expectations – Unrealistic profit targets promoted can lead to disappointment. Proper expectations are key.
- Needs Monitoring – Requires monitoring around major news events as the system is not news-aware.
- Broker Dependency – Performance depends heavily on broker execution, spreads, and liquidity.
Verdict – Excellent Scalping System for EUR/USD
The Forex Hub System NR MT5 is a robust and promising scalping system for trading the EUR/USD currency pair. The combination of indicators, rules, and automated trading provides reliable signals. However, proper backtesting is advised before using this system.
For disciplined traders with a scalping mindset, this solution can potentially deliver steady profits month after month. But having realistic profit targets and effective risk management is vital for long term success.