Fibo Machine Pro refers to a trading indicator that utilizes Fibonacci numbers in Fibonacci setup. It is very essential for forex beginners since it shows you the place to buy and the place to sell. F. Machine Pro also indicates where you are supposed to put the Target Profits and where to put the Stop Loss. When it comes to the Target Profits, you can pick from three levels to set the most suitable entry setup for you. Whether you are looking to use medium take earnings, safe take earnings, or aggressive take profits, it all depends on your trading style. The trading indicator is ideal for use if you are a novice trader. This will ensure you don’t use sophisticated trading strategies to get entry set up.
What is Fibonacci?
Fibonacci refers to a mathematical number that Leonardo Fibonacci discovered. The Fibonacci sequence is a number series where you get the next number in the series by adding up the two previous numbers. Forex traders utilize Fibonacci to get target profits and a retracement area by getting two low and high extreme points for making technical analysis. The Fibonacci ratio includes 23.6 percent, 38.2 percent, 50 percent, 61.8 percent, and 100 percent. The golden number refers to a unique number that is determined by separating a line into two parts to ensure that when the longer part is divided by the shorter part, it equates to the full length divided by the lengthier part.
Fibo Machine Pro Features
1. Fibonacci Trade Setup
The trading indicator will be utilizing the Fibonacci numbers to get the entry setup.
2. Set and Forget Style
The trading style of set and forget is used when the entry setup is accompanied by Target Profits and Stop Loss. After finding the setup, be sure to set and close the chart. There is no reason for worrying about the entry position since the Stop Loss and earnings are bigger than the risk that you acquire.
3. Signal Entry Alert
The signal entry alert represents a value added for improving the trading such that you cannot only focus and spend time watching the chart. But this feature makes F. Machine Pro a unique indicator.
4. Using the Fibo Machine Pro
Set up the Indicator in a trading platform before finding the entry setup. Then ensure you set the entry and close chart.
Pros of F. Machine Pro
1. Trading Style of Set and Forget
What makes this indicator special is the use of the trading style of set and forget. This strategy of trading resembles that of intraday and swing trading. If you don’t have a lot of time to keep checking the chart, you will like this style. The indicator will reveal the target profits and stop loss indications. When it comes to the tools, there is no reason for worrying about the floating account. You only need to set the entry setup and go do your stuff. You need not think about floating profits or losses. In case it reaches target profits, then you have done well. But in case it reaches stop loss, it is still okay. With the indicator, you will not float too high, and you only need to get a new setup.
2. Higher Rewards than Risk
In forex trading, it is crucial that the rewards surpass the risk for a proper money management strategy. The use of Fibonacci numbers ensures that the Target Profits and Stop Loss determine your risk vs. reward ratio in the entry setup. The reward always surpasses the risk. Hence, in case the entry set up is not at par with the market, you can correct the losses with the profitable trades.
3. Target Profits and Stop Loss
The use of F. Machine Pro indicator ensures that you stop doing complex forex analysis. You need to check the chart and look at the part that indicates the entry setup. A minimum average of Target profits on M15 ranges between 30 pips and 40 pips. When it comes to the H1 chat, the target profits can get to a maximum of between 40 pips and 90 pips. Stop Loss is essential, especially when the entry is not at par with the market. When it comes to this entry setup, you are familiar with the Stop Loss and the amount of money you can afford to lose.
4. Entry Signal
The other thing is that the F. Machine Pro offers trading signal alerts. You can get the notification alert regarding the signal through your email, push notification, or pop up alert on your mobile device. During this time, the signal setup is already established, and the entry is put on the trading setup by the trader. Hence you will not miss the entry setup made by this indicator.
5. Take Profits Option
You can pick from three take profit options to use for making an entry. The choice depends on the amount of profits you are looking to make. The first option is safe to take profits. This option is ideal for novice traders as it provides you with the most controlled and safe style of trading. The second option is the medium take profit, which is the natural progression from the first option. After you have traded successfully for some time, you can go for this choice. The third and last one is the aggressive take profit, which is riskier. In case you are able to handle a high-risk level in exchange for high profits, you can go for this choice.
6. Signal Alerts
The entry setup will be sent to your email by the signal alert. This entry level includes 3 Take Profits levels, Stop Loss, and Entry Signal.
b. Sound Pop Alert
The sound pop alert is available on the MetaTrader platform of trading. The alert is essential when one is in front of the screen. This alert lets you do other things instead of staring at the chart throughout the day. This is because the pop alert will notify you when the chart has an entry setup. This feature allows you to minimize the chart on your computer and do other things with it as you wait for an entry setup to come.
c. Push Notification
Push notification is a signal that synchronizes with the MetaTrader terminal of trading on your mobile device. This signal on the PC’s MetaTrader trading platform can be synchronized with the smartphone’s MetaTrader. The use of the indicator lets you see the signal on the Fibonacci setup while using a smartphone even when you are in a shopping complex or at the office.
The Cons of the F. Machine Pro
1. Zero Automation
F. Machine Pro is only an indicator and fails to offer expert advice, which allows for automatic execution of trades. F. Machine Pro only lets you trade manually when there is a setup on the Fibonacci retracement. But the indicator can assist you to improve your trading skills such that you can find the trading setup without the need for an Expert Advisor.
2. Only Use 15 Minute Timeframes or More
You can only scalp for a time frame of 15 minutes. You cannot scalp with the lower one minute and five minute charts. This is because the trading strategy used is unsuitable for scalpers. It is ideal for intraday and swing trading since it targets larger earnings than a scalper who only gets between five pips and ten pips. But the entry setup offered by F. Machine Pro provides between 30 pips and 90 pips for each trade setup. The trading style used is set and forget as it removes the need to stare at the chart the whole day. In case you are a forex scalper, this indicator is unsuitable for you.
3. Need for Opening the Chart to Get the Entry Setup
The F. Machine Pro requires a MetaTrader platform for trading to set up the trading indicator. Hence, you require opening the PC to use this indicator and to get the entry setup. But the signal alert feature can be linked to your smartphone’s MetaTrader trading platform. This features will allow you to trade forex and receive notifications everywhere you are. Moreover, you can trade forex through your mobile device after synchronizing your PC’s trading account with your mobile device.
Who is the F. Machine Pro Suitable for?
The F. Machine Pro is ideal for beginners in Forex trading who are looking for trading consistency. The indicator is ideal for beginners since its features show the chart’s trade setup and you need no experience to understand it. You only require opening the cart and executing the trading setup. In addition to this, the indicator has a Stop Loss, three options of Target Profits, and an entry for you to make. Hence, it is ideal for novice traders as it is straightforward to know where to sell, where to buy, where the Stop Loss is, and where the Take Profits is.
It is Unsuitable for the Advanced Trader
The F. Machine Pro is not ideal for advanced traders who have five to ten years’ experience in trading. An advanced trader has no use for an indicator since they use naked charts and a bit of analysis from forex basics. The F. Machine Pro trading indicator only offers the trading signal of where to sell and where to buy and needs no basic knowledge. Advanced traders have their own preferences and strategies when trading. They don’t need guidance from a trading indicator.
Easy Profits refers to a trading strategy that can be applied in one’s trading if they are a novice trader. If you want to buy it individually, it goes for $27.