In this post I will be reviewing the Forex Incognito manual trading system. Forex Incognito is a manual forex trading system specifically designed to use for trading on the free to download MetaTrader 4 trading platform. It is a price action strategy based around the open, close, high and low prices of each bar. It focuses on the simplest form of market analysis which is using the actual price movements rather than potentially lagging technical indicators. The main advantage of using price action is that it tells you exactly what the market is doing right now so you are always reacting to the current market rather than the past or trying to look too far ahead into the future. Price action signals can be reliable when used correctly and combined with good money management. Price action is perhaps one of the most important thing to consider when trading.
What is FX Incognito?
Forex Incognito is a manual forex strategy that is based around price action. The method implements a very simple yet effective way to follow the price. FX Incognito returns to the roots of trading, when traders used only basic information of the price, like: opening, close, highest price, lowest price. This technique was created a long time ago, before the computer era, when orders were placed on paper for e.g. wheat contracts. Traders received only this simple information from the market and used it to place orders. Nobody needed unnecessary indicators, which often bring only confusion. As traders, we begin with simple methods, then go through hundreds of colorful systems, only to conclude that the simplest methods are the best. I do thinkg that we should sometime try and focus on what is really important and what causes the market to move, the price.
Forex Incognito Trading Strategy
It is worth considering that price action trading strategy has been around forever. Before there were any computers or technical analysis, price action was the most commonly used market analysis. Basic information such as the open, close, high and low was used for determining the current market bias and this is how Forex Incognito works.
As I mentioned before, it is not complicated and you do not need to be confused with numerous useless indicators that are delayed or too unpredictable – it is simple and perhaps a lot more beneficial to just follow the price action.
Forex Incognito displays coloured boxes on your chart that show the current direction of the price action (red = down, blue = up) and then you can pick entry points based on the price action within these boxes. You do not need to spend the whole day on the chart analysis, instead you can choose to just follow the boxes.
You may look for candlestick patterns forming that show bullish/bearish signals or you may look for momentum picking up in one direction.
The method is primarily focused on the price, hence candles on the chart do not have any unnecessary elements like for example: shadows, there is only candle body. Thanks to this solution, a trader can focus on the most important things.
One of the positive aspects of the Forex Incognito system is that there are so many different ways in which it can be used. There is no one size fits all as every trader has a different trading style and risk preference. You can use FX Incognito to scalp, day trade, swing trade or even hold positions for the long term. It can be used on any financial instrument that your trading broker provides and can be applied to any chart timeframe. This makes it a very versatile forex strategy for traders of all experience levels.
Forex Incognito Summary
Overall, Forex Incognito is a useful system but will require some price action analysis knowledge from the individual trader, primarily some understanding and experience with candlestick patterns.
In fact, I do believe that the developer should have put more emphasis on candlestick patterns especially considering that it is a price action based trading strategy.
That being said, provided you follow the overall trend direction using the Forex Incognito boxes and have smart money management with a good risk to reward ratio then this can be a useful manual trading system.
The method will allow you to analyse the market in a very simple manner, using a clear price that does not lag and can be a good indication of market movement when used correctly. The volume on the forex market cannot be accurately determined, chart formations on the charts can look different due to various factors such as time zones and different broker time, but the price is always true.
If you are interested in downloading the Forex Incognito 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 Forex Incognito 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.
If you find that it is working well, you could always implement it within your own trading strategy to help you achieve your individual trading goals or even use it as a standalone forex system. There are many ways in which FX Incognito can be used, so it is important to try and see if it can work for you before making any commitment.
Overall, this 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 Incognito download you can visit the website using the link below. It includes full support, detailed instructions and a money back guarantee.
Forex Incognito
$99
Pros
- All Currencies
- Multiple Timeframes
- 60 Day Money Back Guarantee
- Full Support
- Detailed Instructions
- MetaTrader 4
Cons
- MetaTrader 4 Only
- Takes Time To Learn How To Use
- Requires Some User Initiative
- Quite Basic Forex Strategy
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.
