Estimated reading time: 5 minutes
When it comes to Forex indicators, traders look for software that don’t repaint signals. Traders are always concerned with finding Forex indicators that work, and not some generic algorithm which promises 100% win rate yet when applied to a live trading account, it gambles trades and losses the whole account balance. Set Forget Pattern Profit is such a Forex trading indicator. Before you fall for it, you should probably know a lot of things about it.
The Set Forget Pattern Profit is being promoted on this domain setforgetpatternprofit.net. It is promoted as the best semi-automated investment solution for those who don’t know how to trade Forex.
In essence, the Set Forget Pattern Profit system is supposed to be a really convenient option for those who are interested in finding a trading system that delivers ”smart and accurate” signals.
So this review actually wants to see if there is more than what meets the eye. If you are curious too, you can join us here to learn about this Forex indicator. From the word go, we do not agree with it, and neither should you.
Everyone knows Karl Dittmann because he is a popular household names when it comes to Forex indicators. Mr. Karl claims that he is a professional Forex traders with a penchant for developing Forex trading software that work.
He is the guy responsible for labeling over half a dozen of Forex trend related indicators in the market. He keeps channeling many of these products into the market. But there is zero evidence that he is a trader. The point is, it is difficult to know where Karl Dittmann’s loyalty is.
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Note: If your language is not English, you should use the language dropdown menu at the top right hand side of their page to select your language.
We do not know whether this guy has a knack for creating trading indicators that work or just trying to make more money by channeling many trading indicators into the market.
Most of the time when you come across such ”trading solutions”, you will be forced to face the reality that those trading solutions are in truth, bogus and misleading, where the owner of the product will never accept responsibility for their own work.
If you want to be sure who this guy really is, a quick search on Google or in any other search engine using the phrase ”“Karl Dittmann scam” would reveal that this guy is untrustworthy.
Most people in the community of Forex traders who use indicators have labeled him a viral Forex scammer who is also the owner of a series of deceptive landing pages aimed at selling all sorts of Forex indicators. These Forex indicators have been proved to be fraudulent and non-result oriented.
There is only vague explanation concerning how Set Forget Pattern Profit system works. The owner claims that it uses the ”latest prediction technology”. The Set Forget Pattern Profit system is supposed to be so accurate that it will fast-track you into the world of financial freedom in less time that it would take you if you used other trading solutions.
It is also very easy to use — according to Karl Dittmann. In other words, this website is confronting us with a get rich quick scheme powered by a ”special algorithm” for trading the Forex market.
Karl’s ridiculous sales pitch is unbelievable. In the promotion material, he claims that Set Forget Pattern Profit is the most profitable Forex trading indicator in the world. Of course that assertion has never been proved, and can never be proved since there is no data to verify the same.
The Set Forget Pattern Profit trading system allegedly works on the daily time frame chart as well as lower time frames too.
The indicator cannot directly control these time frames. Instead, you have to apply the indicator on a chart by chart basis using one time frame at a time.
For individuals to receive notifications on whether to enter trades, alerts will be sent through mobile push notifications, emails or pop up alerts on the chart.
The most ridiculous promise on this site is that Set Forget Pattern Profit generates between 100 and 200 Pips on a daily basis and that it can be used by anyone regardless of whether or not they have a trading background.
At this point, a newbie probably needs enough experience to learn that one cannot consistently achieve those pips on a daily basis. Sometimes markets are aggressive, sometimes they are not. Sometimes there is high volatility, sometimes there is no significant volatility. And of course good trading signals don’t form every day.
The point is, you cannot expect to make a specific number of pips every day. There are just too many variations that come into play. You don’t promise people 200 pips every day unless you are a scammer.
On the landing page of the Set Forget Pattern Profit, you will find a lot of images which allegedly show this trading indicator in action. These images allegedly show various instances where this indicator landed in the money. Unfortunately, none of those trading results were verified.
Karl might have picked 1 out of a million trades that lost money and manipulated the image to come up with several versions that show profits. The truth is that this could have been a one lucky trade which Karl has replicated into many images to create the impression that Set Forget Pattern Profit always wins trades. He has done this with his other Forex indicators too. This cannot be an exception at all.
For those who are looking for a completely illegitimate and unverified Forex trading indicator, this Forex indicator by Karl Dittman is for them. However, for the people who are looking for a practical, tested trading solution that will work in the long run, these robots should be the best choice ever. This is not a viable solution at all. The Forex indicator isn’t promising enough to win our trust. Just forget Set Forget Pattern Profit system because it’s designed to lose money. It isn’t worth the price.
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