Forex incognito is a new trading system that’s telling us to forget technical analysis. The developers of this system want us to throw away our indicators and follow price in its simplest form.
Today I’ll be providing a review of the system and letting you know whether or not it’s a tool we should be adding to our trading arsenal.
Forex Incognito Review
The Forex incognito system takes advantage of a technique that’s been around before computers even played a role in the market, OHLC. This stands for open, high, low, close it is a strategy that can be used to properly follow the trend.
The developers feel that real traders don’t rely on indicators because these words available in the early days of trading. I can’t say that I agree with this logic. Trading can always be improved upon and I do believe that the use of indicators and Forex robots are direct proof of this.
The Forex incognito product is an innovative manual trading system that can work for scalping, day trading and swing traders. The software uses colored boxes to indicate which trend to foll so it is simple to use but I’m unsure if they have a fully developed strategy. The developers want us to use the major pairs because they provide lower spreads but they don’t tell us when we should trade and which combination of pairs and time frames are the most successful. There is also no proof showing us that the system has any long-term viability.
When using the software you can use it on the M1 timeframe for scalping, M15 timeframe for daily trading and the H4 timeframe for weekly trends.
Where we sit right now I can’t recommend the Forex incognito system. While the software is only $99 and the promise of a simple Forex strategy interests me, I do prefer to see some sort of trading history. If you have tried this software or you just want to let me know your feelings about it than you can leave a comment about incognito now. Depending on the popularity of this discussion I will certainly revisit this page and decide whether or not I want to move forward with testing. Thanks in advance for spending time here on Forex Robot Nation.
I would like to hear from someone that has used the system and give a report on the results. I agree with you in that the system does not tell you when to trade on what combo to use. So I guess you would need to set at your computer all day and watch for a move?