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Forex Magic Scalper Review: Another scary indicator that failed to reach its set accuracy promises.
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Forex Magic Scalper is a unique indicator whose developer believes will generate 150 pips a day. Like the name suggests, this indicator is scalping the market to attain these number of pips a day. The Forex Magic Scalper is designed to provide traders with accurate trading signals as well as charting tips which ensure the interface is as user friendly as it can get. The system relies on an Asian trading approach, and the developer believes that the indicator can perform consistently in all market conditions.
This indicator was designed by a well-known developer called Alex Tanuka who is based out of Singapore. He is the CEO of Forex Pacific. The sales page does not give us any specific address or email address. However, there is one generic email address that the developer has provided, just in case we want to reach out to him.
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Alex Tanuka is famous simply because he has designed several trading systems before, and he believes that this particular one is quite unique compared to all other Forex trading systems. He claims that the reason it is unique is because it places much of the control into the hands of the trader.
The Forex Magic Scalper is relying on RSI and Stochastic to generate signals. He claims that by using these two indicators, he is able to ”filter” full signals so that he can obtain refined entry points with minimum delay in a trade. This is quite an ambiguous explanation because we do not know how to filter the full signals. Also, it could mean that we will have to use our own trading knowledge to operate this indicator. Therefore, it means that those who don’t know how to trade cannot get the most out of this software. By the way, the Forex Magic Scalper appears to be a product that was designed for those who have adequate Forex trading knowledge. So if you are green in this area, we advice that you consider automated expert advisors. We are recommending these ones to our readers.
It is also important to take note that this is a robot that requires some analysis and yet Alex is not revealing this in advance. Instead, he says in the marketing material that the trading system is suitable for both the experienced and the inexperienced. This is quite misleading because a newbie could soon be disappointed if they buy only to find out that the system requires input from them as a result of not being 100% automated.
This is also in contrary to what the developer said concerning the ability of the software to produce consistent results. It wouldn’t be practical for the less experienced to get consistent results. This is something that Alex cannot dare mention on the sales page, and it’s sort of a deceptive element.
This is yet another typical sales page that is long enough to cause boredom because the developer does not address real issues but is busy hyping the product to make us think it’s the best thing that ever happened in the Forex market place.. So actually the thousands of words that appear on the sales page are not telling us the strategy that the algorithm of this software is using to produce these signals.
The developer only says that the software is using a couple of indicators to help with the decision making. What we can say is that this isn’t quite elaborate enough. We need Alex to invest much of his time in explaining what kind of trading strategies went into building of the algorithm of the robot in question. Otherwise, we cannot simply believe a sales page that contains thousands of words but is not giving us any meaningful explanation. They need to definitely think carefully about this.
This software trades 1m, 5m and 15M time frames respectively. It is designed to trade all pairs. The price for a license is $99. Given that much of the input will come from clients, we can say that the Forex Magic Scalper is really too wide and yet encompassing, thus delegating a lot of duties to the trader. Perhaps they could have focused on a few pairs and just one or two time frames to make work easier. Since the developer is claiming that this is a premium product, they should take the burden of incorporating these features into the product instead of leaving their clients to figure out on their own.
He is a mystery, and that names sounds like an alias. It is actually unknown if he really exists. Perhaps he is just an alias that is being used to channel out Forex trading products. He had released a number of trading systems before. None of them have proved to be effective in fulfilling their roles as expert advisors or indicators.
So we cannot speak much about him because he is just one of those mysterious characters in the Forex trading marketplace.
There is a common problem that most of these developers suffer from. Rather than using a statement sharing platform like myfxbook, they often use screenshots to showcase their alleged results. The issue with screenshot results is that they can be doctored or manipulated in favor of the message that is being preached on the sales page. You see, the developer could have captured their best performing moments and avoided losing moments because this information is not needed when it comes to fooling traders and persuading them to make a purchase.
The price point is quite affordable. However, the Forex Magic Scalper is not the ideal product because the developer does not elaborate the trading strategy, and is not proving their trading results. Screenshots are not the way to prove results. Without these areas of concern being addressed, we don’t see why traders should sign up. You better stick to these robots.
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Yes, i agree i have used systems from this man and they don’t work, i ordered before, i got a credit on my card once in while he send free systems, but i never pay attention anymore.