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.
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 may look for candlestick patterns forming that show bullish/bearish signals or you may look for momentum picking up in one direction.
Forex Incognito Summary
Overall, Forex Incognito is a useful system but will require some price action 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.
It includes full support, detailed instructions and a money back guarantee. Visit the Forex Incognito website for more trading examples and information.