In this post I will be reviewing Karl Dittmann’s highly profitable Pips Wizard Pro indicator for manual trading forex on the Meta Trader 4 trading platform. This indicator aims to catch 100-200 pips every day and judging by some real life trade examples this is certainly very achievable! The Pips Wizard Pro signals are very easy to follow making this a manual trading system suitable for all levels of forex traders whatever your experience may be. It is a very flexible forex trading system that you can use on any currency pair (stocks, bonds, commodities, etc) and time frame although I would recommend the longer term charts such as the 1 hour charts and above for the most reliable sugnals and to filter out market noise that you can get from shorter timeframes. Furthermore I would also recommend using Pips Wizard Pro on the major currency pairs such as the EURUSD and GBPUSD as you can catch some really big moves and thus use a favourable risk to reward ratio ensuring that your winners are greater than your losers. As always make sure that you are using a true regulated ECN forex broker for the best possible trading conditions, lowest spreads and plenty of liquidity for trade execution at the best possible prices.
Pips Wizard Pro Strategy
The Pips Wizard Pro strategy is basically an indicator that you place on your trading charts which will look to identify new trends before they begin. This is with the aim of getting you into moves at the earliest opportunity and thus allowing you to make the most of all significant market moves. If for example there was a big up trend that lasted a week, the Pips Wizard Pro indicator would have got you into the trend at the very beginning. The entry signals are very clear and easy to follow – they are displayed as colour coded dots/lines on the chart. When one appears you simply enter the trade and you can even include your own additional technical, fundamental or price action analysis should you wish. It shows two different lines: blue line indicates a buy signal and orange line – sell signal. On top of that, whenever a new signal is generated, Pips Wizard Pro can alert you via email, pop up (with sound) or push notification sent to your mobile. You should ensure that you are using sensible money management so that your winning trades are greater than your losing trades – as you have probably heard many times before – cut the losers short and let the winners run. With this you do not even need a high win rate to make profit from trading forex in the long term. You can also use an opposite Pips Wizard Pro signal for your exit, this will also keep you constantly in the market on a chosen currency pair and ensure that you always catch the trends on that pair – even if you get whipsawed in and out when the market ranges you can still make up for it with the big winning trades and also by using a break even and/or trailing stop. It is worth noting that the Pips Wizard Pro trading signals DO NOT repaint which means they are forever once they appear and will not change later on. Another great advantage of this forex trading system is that not only will it give you an entry signal but it will also tell you the take profit and stop loss levels that it recommends which makes trading a breeze and importantly the values given pay great respect to good money management principles such as sensible risk to reward ratios.
Pips Wizard Pro Summary
Overall, the Pips Wizard Pro indicator is very good at producing high probability entry signals combined with good money management. It is very easy to use and a great long term manual trading solution. It is suitable for traders of all levels and is a very flexible manual trading system. It can be used on many instruments and any timeframe. Furthermore, it will allow you to trade at times that suite you – if that be morning, afternoon or evenings, there will always be trading signals. I would certainly recommend this to any trader looking for a simple yet reliable system that produces big wins on a regular basis. It comes with detailed instructions including real trading examples, full support and a 60 day money back guarantee.