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 Felix de Vliegher, a Belgian trader and Forex educator, who travels the world and currently lives in Japan. Felix 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 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’s ‘Trade Advisor Program‘ in November 2019 for a price of $40 monthly, and I 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 are well written, well organized and the strategy is well explained.
There is a weekly market analysis, in which the educator reviews all (his) executed trades of the previous week. New setups for the week to come are given (and explained) in this analysis as well. All weekly analyses are stored in a massive archive that goes years back, giving days of study material to learn the strategy.
The entire analysis, as well as all course lessons on the site are in textual form, illustrated with charts. There are no videos.
Below a sample of a weekly market analysis:
There is also a member forum (Slack). This forum is the active part of the course throughout the week. 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, trend reversal trading and chart pattern trading, such as 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 analyzed (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, because MT4 does not provide these timeframes. A solution is to step over to Metatrader 5, which does provide them.
If you are going to trade all the 40 symbols, 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.
You can also trade less symbol and/or timeframes, but its drawback is that you will get less quality trade setups.
The good about the course & system
Felix de Vliegher 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 Felix is very active on the Slack-forum, and answers to questions asked come quickly.
The strategy uses candle closes as entry triggers, which is a also 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. Felix 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 remains reasonable.
About the strategy’s ease of use
The Smart Forex Learning strategy is easy to learn and to execute, and this strategy is easily paper traded. The live strategy demonstration helps building confidence in the strategy, and the fact that the educators shows a track record also contributes to that confidence.
TEST: Is the strategy profitable?
I had reserved 7 months to test the strategy. For the test I have adjusted the rules a little bit.
First of all I did not use the full set of 7 timeframes, but stuck with 2 default MT4 timeframes (H1 and H4) . Very often a setup appears on multiple timeframes at the same time, and I find that analyzing all of them is unnecessarily time consuming. Also, I have traded the strategy on 30 symbols, instead of 40.
The test results are shown below and they can be found on Myfxbook. It returned a 2% monthly at a drawdown of 6%.
Despite this 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 with it in advance. Also, I did not trade the full set of timeframes and symbols, which would probably have given more profit. So the strategy is 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 1 month membership by another month. This makes it a $40 for a strategy that works: I think it’s a bargain.