In this post I will be reviewing the popular Forex Enigma forex trading system by Karl Dittmann. 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.
The Forex Enigma 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 Monarch, Forex Resolut, Exynox Scalper System, Onyx Scalper, Alfa Scalper, DNA 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.
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. It is very versatile as it can be used on any chart timeframe or financial instrument. Just understand that this is not a magic system, it requires you to do your own market analysis to confirm signals and also to decide on what money management you would like to use according to your own goals.
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.
IC Markets are my top choice of forex broker for manual and automated trading 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.
Forex Enigma Summary
Hopefully, this Forex Enigma 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.
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.
I think it is important you learn why each Forex Enigma signal is generated, rather than taking them without having a good look at what is happening in the market to verify each trade. That way, you can learn about all of the different trading indicators and combine those which you like the best into your very own bespoke trading system that is catered towards your own needs.
If you are interested in downloading the Forex Enigma system, you could always start on a demo trading account to begin with. This could be a great way to familiarise yourself with how to trade with the Forex Enigma and get the most out of it. You can get a free demo trading account from most forex brokers. Once you have built some confidence and have some success, you may then consider switching over to a real live account.
Overall, I think that the Forex Enigma is a basic forex strategy, and I do not think it is much different from a trading strategy template that you could build yourself in the MetaTrader platform by simply using the default technical indicators and drawing objects that are included within the platform free of charge. If you want to learn more and get the Forex Enigma download you can visit the website using the link below.
- All Currency Pairs
- Any Timeframe
- 60 Day Money Back Guarantee
- Full Support
- Detailed Instructions
- MetaTrader 4
- Manual Forex Trading System
- MetaTrader 4 Only
- Quite Basic Forex Strategy
- Requires Some User Initiative
- Takes Time To Learn How To Use
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.