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.
The DNA Scalper is another forex trading system from the Karl Dittmann whose previous forex software I have also reviewed including Scalping Detector, FX Atom Pro, X Trend Premium and Fibo Quantum, amongst others.
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.
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.
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 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.
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.
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.