In this post I will be reviewing the popular Forex Enigma forex trading system. Forex Enigma is an easy to use trading indicator for MetaTrader 4 charts that can give you trading signals for buy and sell trades. It is a visually appealing indicator with clear instructions for the trader. Primarily it is a scalping indicator that you can use on the 1 minute and 5 minute charts of any pair for some fast forex trading action. It could also be applied to longer term charts for those who prefer swing trading – this means to hold positions for a longer time. It doesn’t matter if you only have a few minutes or hours free to trade, it is flexible and as I will discuss later can even be traded on the go using the built in alerts.
Forex Enigma Trading Strategy
The Forex Enigma trading indicator does not repaint (this means to change after the fact) so you can visually test it over historical charts to practice your skills should you wish to do so. It generates signals by using a combination of trading algorithms which basically means it uses a combination of technical indicators. This is good because by using multiple indicators they can complement each other – some showing the trend, some showing volatility, some showing possible high and low prices, some support and resistance, etc.
You do not need lots of indicators on your chart and you do not need to know how each of them needs to be analysed as the Forex Enigma indicator does this all for you in one simple color coded indicator with clear buy and sell arrows. It tried to find turning points in the market and catch the start of trends then anticipating a change of direction.
Anyone can trade with this forex trading system, there no experience required and it is very easy to understand and setup with clear explanation and examples in the instruction manual.
Forex Enigma can also send you an alert when there is a signal. This alert can be a pop up and sound on MetaTrader 4 (make sure you have your sound switched on!), an email alert or even a push notification to your mobile phone. Very useful if you are out and about as you could even place the trade with the MetaTrader 4 app on the go!
As with any forex trading system, I would make sure that there is a good trading plan in place with sensible money management and strict trading discipline. Personally, I would cut losing trades short and try to let my winners run, locking in break even and using a trailing stop if necessary. Ideally, I would only take trades that offer at least a 1:3 risk to reward ratio so that a winning trade is 3 times the size of a losing trade. This means that 1 losing trade will not wipe out consecutive winning trades. I would also use an ECN forex broker as I find that they tend to have some of tightest spreads, lowest commissions and reliable execution speeds.
Forex Enigma Summary
The developer Karl Dittmann is well known in the forex industry for providing many forex trading systems. Such manual forex trading systems do require some use of your initiative in terms of money management and control over emotions such as fear and greed. Forex Enigma comes with reliable support and a 60 day money back guarantee so you have plenty of time to trade with this forex trading system and see if it is for you. Perhaps even by starting on a demo trading account. Make sure you hit the button below to find it more!