Today I’m looking at a new scalping indicator by Karl Dittmann, that’s built using a next generation trading algorithm, X Scalper. With 3 different trading modes, the software is aimed at every level of trader, from beginners, to experts. Karl believes that every single trader can grow with his software and move from conservative, to medium and eventually to aggressive mode signals.
Karl has been providing products in the Forex market for a very long time as part of the Karl Dittmann Forex Group. From what we can gather, the head offices are located somewhere in Germany, but there doesn’t seem to be an address or phone number. For traders looking to get in touch with support, they can email via http://www.karldittmann.com/help.html. There is no exact email address, just a contact form that can be filled out.
X Scalper Review
For years Karl has use the same sales page, but with the X Scalper, his old format looks to be a thing of the past. This is the most professional, and aesthetically pleasing sales page we’ve ever seen from the KDFG.
As for the indicator, traders attach it to their charts, and then when trading opportunities arise, they’re given buy or sell signals with recommended stoploss levels. It doesn’t seem to say anything about take profit, but I imagine there is some sort of a guideline for when traders should be exiting these trades. That is an assumption, but that’s generally how Karl’s products work.
Even though it is an indicator, Karl still provides a money management strategy in the members area. In terms of the actual strategy, there doesn’t seem to be much information about this, despite there being thousands of words written on the sales page. Most of the information is sales jargon, but there are some interesting tidbits along the way, if you are willing to read through the entire page.
- Type: Forex Indicator
- Price: $147
- Strategy: Scalper
- Timeframe: M1, M5
- Pairs: All Pairs
Considering how many products released by the KDFG, I am somewhat surprised that we are seeing another scalping indicator, just 4 months after his Infinity Scalper release. I don’t know if this will eventually be detrimental to the X Scalper development, but it does seem like these products are short-term projects. That doesn’t mean that they won’t provide valuable signals for years to come, but I don’t believe they are being updated on a regular basis as the development team focuses on releasing new products so frequently.
I prefer developers that focus on one product a year, maybe even one product for multiple years. The reason for this, is that it gives developers time to fix issues and develop a more in-depth strategy over a long period of time.
As is generally the case with indicators, and Karl Dittmann products, the X Scalper software does not provide us with a large sample size of trading results. In fact, the indicator does not have a Myfxbook account, or any sort of trading statement, not even an FX Blue account.
Considering this is a product that provides exact trading signals, I don’t see why we can’t have at least a couple of months on a verified Myfxbook account like a Forex robot. I understand that the trades have to be placed manually, which could be time-consuming but if the signals are as good as they are supposed to be, then the development team could grow their account while proving that the software works.
There are screenshots of sample trades which I appreciate, but this doesn’t really paint a thorough picture.
I have had some success with Karl’s products in the past, but generally it requires some work and strategic analysis on my end. Usually, I have to figure out what pairs, and times during the day provide fruitful opportunities with this strategy. This is likely the case with the X Scalper, so while it may be a valuable asset, I don’t believe that it’s going to be a product that comes working out-of-the-box without some effort on your behalf. So, if you have the time that this may be an option for you.
If you have anything you would like to add to the review, please leave your questions and remarks below the article now.