Name: Smart Forex Learning
Description: Swing trading strategy based on trend reversals and break outs
Price range: $40 - $60 monthly / $600 lifetime
Ease of use
Smart Forex Learning is a Forex education website by a Belgian trader and Forex educator, who travels the world and currently lives in Japan. The educator has been trading for over 12 years, and has been teaching Forex since 2016. His bread and butter is a trend reversal strategy, which he teaches his members.
- Every Saturday an extensive weekly watchlist
- Active Slack forum
- Educator shows a track record
- System uses unusual timeframes not available in MT4
- Chart analysis can be time consuming
The course and its contents
I subscribed to Smart Forex Learning course in November 2019 for a price of $40 monthly, and intended to stay for just one month to learn the strategy.
The lessons on the portal are a collection of member-only blog posts, which were well written, well organized and the strategy is well explained.
The main thing is the market analysis, in which the educator reviews all (his) executed trades of the previous week. It is renewed every week and new setups for the week to come are given (and explained) in this analysis as well. All weekly analyses are stored in an archive that goes years back, so there is a massive amount of useful examples to learn the strategy.
The entire analysis, as well as the course lessons are in textual form only. There are no videos with oral education.
Below a sample of a weekly market analysis:
There is also a member forum (Slack). Questions about the strategy can be asked here, and answers are given quickly, almost instantly sometimes.
The Smart Forex Learning system is a mixture of breakout trading, momentum trading, and chart pattern trading (double top, triangles, H&S, etc.) It’s all about spotting potential trend reversals, and then to wait for a break of a local support/resistance for an entry.
Main characteristics of the system are the rather huge set of symbols that are being traded (about 40) and the unusual timeframes that are being used, like H2, H6, H8, etc.
The latter can be an issue if you trade on MT4, as MT4 does not have them. A solution is to step over to Metatrader 5, which does provide these timeframes by default.
If you are going to trade the full list of symbols (40), then there are 280(!) charts to check for setups (40 x 7 timeframes). This is very time consuming, especially in the beginning. But fortunately this task is only done once or twice a week. And once you get the routine it will go much quicker.
The good about the course & system
The educator shows weekly track records of his own performance with the strategy. It is not a track record of a verified live account, but at least it is something. From all other courses and trading systems only the JannaFX Break Out Strategy does this.
Another good thing is that the educator is very active on the Slack-forum, and answers to questions asked often come quickly, almost instantly sometimes.
The strategy uses candle closes as entry triggers, which is also a plus. You don’t need to be at the screen all of the time, but only a few times a day, when the candle closes. This saves time.
And last but not least, there is a huge archive of historic weekly analyses, which can be used for deeper studying this strategy.
A drawback of the strategy is that its ruleset is very discretionary, and not very mechanical and objective. A mechanical system is much easier to trade. No doubts, no difficult decisions, just follow the rules.
Unlike that, a discretionary strategy requires a set of well trained eyes, to spot setups. The educator makes a 100-200 percent per year (to his saying). But beginners and intermediates are not likely to get that.
Another drawback is the price of the lifetime membership ($600) which is a bit high compared to lifetime memberships of other courses. However, its monthly price of $40 (at the time of writing) is very reasonable though.
About the strategy’s ease of use
The Smart Forex Learning strategy is easy to learn and to execute, and it is easily paper traded as well. The weekly analyses and educator’s own track record help build confidence in the strategy. An Expert Advisor can be used to trade the system semi-automatically (free for members). This saves time.
TEST: Is the strategy profitable?
I reserved 7 months to test the strategy.
For the test I have adjusted the rules. First, I did not use the full set of 7 timeframes, but stuck with 2 (H1 and H4) . Very often a setup appears on multiple timeframes at the same time, and analyzing all of them becomes unnecessarily time consuming. Also, I have traded the strategy on 30 symbols, instead of 40.
The results are shown below and they can be found on Myfxbook. The test returned a 2% monthly at a drawdown of 6%, which is a bit poor.
But despite the poor return, I don’t take it as a poor result. I immediately started this test after learning the strategy, and I hadn’t done any practicing before. Also, I did not trade the full set of timeframes and symbols, which would probably have given more profit.
So I take the strategy as consistently profitable.
Smart Forex Learning teaches a decent and profitable swing trading strategy, which is traded on a set of 7 timeframes and 40 symbols. The strategy is consistently profitable, and it was easy to learn. There was no need to extend my membership by another month. A $40 one-month membership for a strategy that works: it’s a bargain.