Onyx Scalper is a new Forex indicator by Karl Dittmann. The system is advertised as “a powerful Forex indicator which allows you to make money by simply following its lead.” It provides buy/sell signals, that tell the trader exactly when to enter and exit trades. Today we will be providing our full analysis and letting you know if this $147 price tag is worth your investment.
The developer of this indicator is Karl Dittmann, one of the longest running developers in the Forex market. He claims to have read every book and resource ever written to become a true trading guru. There is no address provided for Karl’s head office, so he is likely working on these systems alone.
There’s been a lot of discussion over the years from traders claiming that Karl Dittmann and Rita Lasker are alias’ for the same company. The entire design of this new product really makes that seem even more likely, as it’s the exact same website as Rita’s latest product, the Forex AstroBot. This isn’t a negative or a positive really, but we do appreciate a higher level of transparency if it is the case.
In order to get in touch with support, traders can fill out a contact form on the website.
Onyx Scalper Review
The Onyx Scalper website consists of multiple trade examples, testimonials, information on the features, and different tips on how to use it properly. There are a handful of main features they feel make their indicator more reliable than their competitors:
- The indicator takes a very small time investment
- It utilizes effective trading algorithms and a user-friendly visual interface
- It can be used by traders of all skill levels, even beginners
- There are multiple trading styles and unique trend power detection to make it more accurate
- Works on all major currency pairs and never repaints
We expect that all of the best Forex indicators follow these principles, so it’s a good start. Now, let’s take a closer look at the trading strategy being utilized.
Based on the name alone we know that the Onyx Scalper is using a scalping approach to trade the markets. This is a very common trading style where positions are opened for a short period of time in order to make a quick profit. Generally, the risk reward ratio isn’t great, but it is an easy tactic to take advantage of small price movements that happen often throughout most trading sessions.
We aren’t sure why, but Karl Dittmann doesn’t provide any actual detail about their scalping approach. While we know the principles of any scalping strategy, we want to know what makes this version of that strategy special.
The closest Karl comes to telling us about the strategy, is the inclusion of three different trading modes. Basically, traders can set the software to suit their trading style. The conservative mode offers normal trade frequency, and maximum safety. The medium mode offers high signal frequency and optimal safety. Lastly, the aggressive mode offers extreme signal frequency and low safety.
Ideally, we would like to know more about the actual strategy, and no just fluff details, like what’s provided throughout the majority of this sales page.
- Type: Forex Indicator
- Price: $147
- Strategy: Scalping
- Timeframe: All Timeframes
- Pairs: All Pairs
For traders interested in the Onyx Scalper, it’s being sold for $147. At this price, traders get access to the indicator, a step by step user guide, a 30 day money back guarantee, 24/7 email support and a single live license.
In terms of trading results, the Onyx Scalper vendor is not meeting our expectations. They provide a handful of screenshots showing the software in action, but this type of data does not prove the software is viable. We do believe that the indicator will provide trading opportunities, but we want to see proof that it wins trades consistently.
The only way they can prove this is with long-term trading statements and verified trading accounts hosted on Myfxbook. Until they provide this, they are light years behind their competitors that do. In fact, the majority of the Forex market won’t buy products that don’t show trading results in 2020.
The presentation is professional, but the majority of the Onyx Scalper sales page is filled with useless fluff. If they want to be taken seriously, we recommend they provide us with verified trading results and real strategy insight. Until then, we won’t be able to recommend this indicator to our readers.
If you have anything you would like to add, please leave your comment below the article now.