In this post I will be reviewing the Triumph Scalper Indicator that can has a built-in algorithm which will automatically scan charts in the MetaTrader 4 platform for potential buy and sell signals. When the Triumph Scalper software finds a signal, it can send you an alert. From there, you can decide if you would like to place a trade, confirm then entry/exit with your own market analysis, or wait for the next opportunity to come along.
Whilst this may seem like an attractive proposition for forex traders who do not have the time to learn how to trade or analyse the markets, it is not a magic system. There will be good and bad Triumph Scalper signals, which is why it is very important to take your time to learn how it works and do not expect miracles. In this Triumph Scalper Review, I will take a look at some of the advantages and disadvantages of this forex system, with a view to helping you decide if it is something you would like to try out on your account.
The Triumph Scalper indicator is another forex trading system from Karl Dittmann whose previous forex software I have reviewed including Fibo Quantum, Super Profit Scalper, Pips Wizard Pro, Forex Enigma, 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, Forex Starlight, Forex Spectrum and FX Meta Scalper.
Triumph Scalper Strategy
The Triumph Scalper indicator has a unique trading algorithm that utilises a combination of technical analysis to try and spot long (buy) and short (sell) opportunities in the forex market. It is based on a forex scalping strategy that looks to gain a few pips from each trade with a view to building an account from quick and frequent trading. I feel that forex scalping is a very difficult strategy to master and one of the toughest ways to trade.
The main problem with scalping the forex market, is that you need tight spreads and quick execution speeds at all times. As forex scalping relies on such small pip movements such as 1-5 pips per trade, if you have not got suitable broker or market conditions, the results can be terrible. E.g. If the currency pair has a spread of 2 pips and there is 1 pip slippage, you are already down 3 pips. This could even be the target for a scalping strategy. We haven’t even accounted for any commission fee which can be a few pips in itself. Therefore, I personally feel scalping is not for everyone.
If you do want to use a forex scalping robot or manual scalping strategy such as the Triumph Scalper, you would want a broker that has tight spreads, low commission fees and reliable execution speeds. IC Markets are one of my top choices as they have deep liuqidity pools which means that you can get your trades executed at some of the best available prices on the forex market at all times. They also support a wide variety of funding options and provide excellent 24/7 customer support.
The Triumph Scalper is created for fast trading, so it works on M1, M5, M15 Timeframes and all major currency pairs. All you need is simply to follow the stable BUY and SELL signals which “Triumph Scalper” gives to you, according to the developer. I would actually certainly not blindly take all of the trading signals without conducting my own market analysis to confirm them first. This way you can understand why each trade was taken which I feel can help to improve your trading skills and knowledge in the long run.
Triumph Scalper Assistant
The Triumph Scalper can operate on its own, but the Triumph Scalper Assistant is created exclusively to reduce the amount of time you spend placing and managing trades when using this forex software. The Triumph Scalper Assistant captures the moments to enter BUY or SELL trades that are generated by the “Triumph Scalper” and allows you to open an order with a few clicks.
Your only task is to choose the parameters you prefer more and click one of the buttons. “Triumph Scalper” will do all the rest of the work for you by controlling the whole process and exiting a trade (with the setting applied). Everything is very easy to apply but quite rigid.
I think it is better that you choose your own money management as every forex trader is different. The provided TP/SL levels may not be suitable for everyone. I would prefer to use my own money management strategy that has a favourable risk to reward ratio so that one bad trade does not wipe out a run of winners.
There are 3 Exit options available: “Exit at Opposite Signal”, “Exit at TakeProfit Level” and “Exit at Opposite Signal or TP level”. If you choose to “Exit at Opposite Signal”, a trade will be closed automatically once a new BUY or SELL signal is generated.
Once you choose an “Exit at TakeProfit” option, a trade will be closed automatically once Take Profit level is reached. Even if a new Opposite Signal is generated, a trade will be still active until the chosen TakeProfit level is reached.
Under the volatile conditions of the Forex Market, this can be a very useful option. You may not exit trades once an Opposite Signal is generated, but let a trade run without exiting. It’s an option if you’re ready to wait when the price will return to the same direction.
Choosing to “Exit at Opposite Signal or TP level”, a trade will be closed automatically once a new BUY or SELL signal is generated or the chosen Take Profit level is reached – whichever comes first. This option might be preferable for those who prefer fast trading and want to exit the trade rather than wait for the price to return to the necessary direction.
As you can see “Triumph Scalper Assistant” offers different exit options for every taste. You’ll definitely be able to adjust according to the best one depending on your own trading style.
The developer does provide the User Guide with more detailed information and examples, to help you get the most out of this forex indicator.
Triumph Scalper Features
- Manual forex scalping strategy
- User-friendly interface with clear buy and sell signals
- Designed for the MT4 desktop platform
- Can be used on any forex broker
- Can be used on any financial instrument
- Optional take profit and stop loss levels provided
- Trade assistant to help speed up trading
- Trading signals alerts via SMS, email and platform pop-ups
Triumph Scalper Summary
Overall, the Triumph Scalper is a simple manual forex trading strategy but does require the user to have some experience in order to filter the trading signals and to choose sensible money management. It is also a scalping system which requires the optimal market and broker conditions in order to fulfil its potential. For this reason, I think there are better forex systems out there. Scalping can be very hard even at the best of times.
Not all signals will be good, so it is important you have an understanding of the forex market before using this or any other forex software for that matter. You could even practice using the Triumph Scalper indicator on a demo account to begin with until you become familiar with how it works and see if it meets your expectations.
The Triumph Scalper does come with a detailed instructions guide, full support, free updates and customer support. You can see a video of it in action on the website, along with a good collection of trade examples. Just keep in mind that these are based on historical data and there is no way to verify the developer actually made these trades as they have not shared any real live results where they are trading the Triumph Scalper strategy.
Triumph Scalper
$147
Pros
- Trade Assistant
- Automatic Buy & Sell Signals
- Optional TP/SL Levels
- Set Signal Alert Notifications
- Versatile Forex System
- Any Trading Instrument
- Any Chart Time Frame
- Any Forex Broker
- Detailed Instructions
- Money Back Guarantee
Cons
- MetaTrader 4 Only
- Requires Some User Input
- Requires Ideal Conditions
- Not Ideal For Beginners
- Not Very Innovative
- 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.
