In this post I will be reviewing the DNA Scalper manual forex scalping system that generates buy and sell signals on the MetaTrader 4 platform which you can download free of charge from most forex brokers.
The DNA Scalper can be used by traders of all experience levels as it is very easy to interpret the signals that it generates without needing to spent countless hours analysing charts. Whilst this can save you time, I do feel that this is a forex scalping strategy which requires some initiative on behalf of the user in terms of filtering signals and money management.
You could commence with the DNA Scalper system on a demo trading account to begin with until you familiarise yourself with the strategy and feel confident enough to trade it on a live account. There are many ways in which the DNA Scalper indicator can be used, so it is important to try and see if it can work for you before making any commitment.
The DNA Scalper indicator is another forex trading system from the Karl Dittmann whose previous forex software I have reviewed including Fibo Quantum, Super Profit Scalper, Pips Wizard Pro, Forex Enigma, Forex Monarch, Forex Resolut, Exynox Scalper System, Onyx Scalper, Alfa Scalper, X Trend Premium, FX Atom Pro, X Scalper, Set Forget Pattern Profit, Rapid Trend Gainer, Infinity Scalper, Forex Equilibrium, Triumph Scalper, Forex Starlight, Forex Spectrum and FX Meta Scalper.
DNA Scalper Trading Strategy
The DNA Scalper has a built-in self-correcting, adaptive algorithm that can generate buy and sell signals along with entry and exit points.
When a signal is received, the user can decide to take it as is or to further filter the signal by conducting their own additional technical, fundamental, price action and sentiment analysis.
The DNA Scalper system consists of an indicator displayed in an MT4 window. It is colour coded with blue indicating a buy signal and red indicating a sell signal. The information is also displayed on the charts for further clarity.
The DNA Scalper can alert you when it finds a valid signal via platform pop-ups, SMS and email. This is useful as it means that you do not need to constantly stare at the charts all day and can monitor multiple currency pairs and time frames simultaneously.
The DNA Scalper system has 3 trend detection modes to suit different trading styles which are as follows; conservative, medium and aggressive. Whilst most scalpers tend to trade on the lower chart time frames such as the 1 minute, 5 minute and 15-minute charts.
The DNA Scalper can be applied to any chart time frame depending on what works best for you. I prefer longer term time frame as I find they can filter out the noise that can occur on lower time frames.
The DNA Scalper system can be used on any currency pair or other trading instruments provided they are offered by your choice of MT4 broker. Other popular CFD trading instruments include stocks, commodities, indices, precious metals, energies, cryptos, etc.
I would usually opt to trade major FX currency pairs such as the EURUSD and GBPUSD as they usually have plenty of liquidity.
What is forex scalping?
Forex scalping is a popular method involving the quick opening and liquidation of positions. The term “quick” is imprecise, but it is generally meant to define a timeframe of about 3-5 minutes at most, while most scalpers will maintain their positions for as little as one minute. I have seen many manual forex scalping systems and forex scalping robots over the years, with the main thing they have in common being that they need a good broker in order to reach their true potential.
IC Markets are my top choice of forex broker for manual and automated scalping strategies. This is because I find them to have tight spreads, low commission fees and plenty of liquidity which means that you can get your trades executed at some of the best forex market prices at all times. From my experience, they also provide excellent 24/7 customer support and have a good variety of convenient account funding options for you to choose from.
How to use the DNA Scalper indicator?
The DNA Scalper system has been developed to run in the MT4 platform. It comes as a trading template along with built-in indicators that you can apply to your chosen chart symbols and timeframes. You can use the default settings or adjust them according to your own needs. I would certainly practice on a forex demo account to begin with and only use this manual forex strategy as supplementary indicators to my own market analysis.
In order to use this forex system, you will need a trading account with a forex broker. With so many brokers to choose from, I have conveniently compiled a list of my best forex brokers to help you quickly and easily choose a broker that meets your needs.
I would personally use an ECN forex broker especially for a scalping trading system. This is because I find that they have some of the lowest spreads and reliable execution speeds which is especially important when scalping a few pips.
DNA Scalper Summary
Overall, I personally find the DNA Scalper to be a solid forex trading system that is very flexible and easy to use.
Hopefully, this DNA Scalper Review will help you to decide if this is a forex trading strategy that you would like to try out. I think that it has some potential but does require the user to take some initiative. This means that you will need to confirm each trading signal with your own market analysis to make sure that you are happy to take the trade. If not, you can always wait for the next opportunity to come along.
I would use it alongside good money management by only taking trading signals that give me a risk to reward ratio of at least 1:3. This way a winning trade would be 3 times greater than a losing trade. Nothing is more frustrating than 1 losing trade wiping out consecutive winners.
It would also be imperative to implement sound trading psychology with patience and discipline. Try not to let negative emotions such as fear, anger and greed get in the way.
The user friendly DNA Scalper system includes instructions, support and a money back guarantee.
DNA Scalper
$147
Pros
- Manual Trading System
- Scalping Strategy
- Color Coded Technical Indicators
- Easy To Use
- Full Support
- Versatile Forex Strategy
- Any Chart Time Frame
- Any Trading Instrument
- Detailed Instructions
- Money Back Guarantee
Cons
- Requires Some User Initiative
- Requires Low Commission Fees
- Requires Tight Spreads
- Requires Ideal Trading Conditions
- Broker Sensitive
- Takes Time To Learn How To Use
- Not Ideal For Beginners
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
