Fibo Quantum Scalper Review – A Detailed Look at This Forex Trading Tool
Fibo Quantum Scalper is a forex trading indicator that utilizes Fibonacci retracement levels and scalping techniques to identify profitable short-term trading opportunities. This trading tool was created by Karl Dittmann, a well-known product developer in the forex space. In this comprehensive review, we will take an in-depth look at how Fibo Quantum Scalper works, its features, pros and cons, and ultimately determine if it is worth the investment for forex traders.
How Does Fibo Quantum Scalper Work?
Fibo Quantum Scalper is based on the key Fibonacci retracement ratios of 0.236, 0.382, 0.5, 0.618, and 0.786. These ratios help identify potential support and resistance levels where price is likely to reverse during a retracement.
The indicator scans the charts and applies custom Fibonacci calculations to detect emerging trading opportunities. When a potential trade is identified, Fibo Quantum Scalper sends a notification alert telling you when to enter and exit the trade.
The stop loss and take profit levels are automatically predefined by the indicator based on the Fibonacci ratios. This allows for quick execution of trades with minimal analysis needed by the user.
Fibo Quantum Scalper is optimized for scalping on the 1 minute and 5 minute timeframes, but can also be used on higher timeframes for swing trading. It can be applied to all currency pairs across various market conditions.
Key Features of Fibo Quantum Scalper
Here are some of the standout features that Fibo Quantum Scalper offers:
- User-Friendly – The indicator has a clean visual interface that is easy to understand even for novice traders. No complex configurations needed.
- Customizable – Users can tweak the default settings and preferences to suit their trading style and risk appetite.
- Alerts – Get notifications on your mobile phone or email whenever a new trading opportunity arises.
- Support – Comes with dedicated customer support in case you need assistance with installation or use.
- Compatibility – Works seamlessly with all versions of the popular MetaTrader 4 and MetaTrader 5 trading platforms.
- Trend Analysis – Scans the charts to identify the current market trend before signaling trades. Ensures high probability setups.
- Risk Management – Stop loss and take profit levels are predefined to control risk on every trade.
Using Fibo Quantum Scalper
Using Fibo Quantum Scalper effectively requires following these steps:
- Download and install the indicator on your MetaTrader platform. The process is quick and straightforward.
- Attach the indicator to a currency pair chart of your choice. Make sure to set the appropriate timeframe.
- Customize the indicator settings according to your preferences, risk appetite and trading style.
- Wait for notification alerts to appear signaling a potential trade entry point.
- Verify the signal makes sense by analyzing the price action and trend.
- Enter the trade at the specified entry price with the predefined stop loss and take profit.
- Manage the live trade and close it out based on the take profit or stop loss levels.
- Repeat the process for new trades, compounding your earnings over time.
It’s crucial to remember that Fibo Quantum Scalper provides trade signals, but the actual execution and management of trades depends on the user. Careful analysis of alerts before placing trades is advised.
Benefits of Using Fibo Quantum Scalper
Here are some of the notable benefits of incorporating Fibo Quantum Scalper into your trading:
- Requires minimal time and effort since the indicator does the heavy lifting of analysis.
- Provides high probability signals for potentially profitable trades.
- Predefined entry, stop loss and take profit levels for efficient execution.
- Optimized for scalping, which can lead to quick profits.
- Suitable for both novice and experienced forex traders.
- Alert feature allows you to execute trades on the go without sitting at your computer.
- Can be used with any MetaTrader supported broker, including ECN brokers.
- Affordable one-time cost compared to monthly subscription services.
Potential Drawbacks to Consider
While Fibo Quantum Scalper has several advantages, there are a few drawbacks to keep in mind:
- Over-reliance on the indicator can lead to blind trading without analysis.
- As with any technical indicator, signals can sometimes be late or produce false positives.
- Requires attentiveness to capitalize on short-lived scalping opportunities.
- More suited for scalping traders, not ideal for long-term position traders.
- Lack of long-term verified performance results from the vendor.
- Requires fast execution brokers to implement scalping strategies successfully.
- Needs proper risk management since scalping tends to utilize larger position sizes on small stops.
Verdict – Is Fibo Quantum Scalper Worth It?
Fibo Quantum Scalper is reasonably priced at $147 and comes with a 30-day money back guarantee, allowing you to test it out risk-free. The ease of use, alert notifications, risk management features and quick trade execution make this indicator well-suited for scalpers.
However, as with any trading tool, success ultimately depends on the user’s skill, experience, risk management and trading style. Fibo Quantum Scalper can certainly enhance your trading process with high probability setups, but should not be solely relied on.
For traders who already incorporate other analysis into their trading and want a supplementary tool to enhance profits, Fibo Quantum Scalper is worth considering. But novice traders will need more education to use it effectively.
Overall, if used prudently alongside sound trading principles, Fibo Quantum Scalper can be a valuable addition to a forex trader’s toolkit.
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Frequently Asked Questions
Here are answers to some commonly asked questions about Fibo Quantum Scalper:
What is the cost of Fibo Scalper?
Fibo Quantum Scalper is available for a one-time fee of $147. There are no recurring monthly fees or required upgrades.
What broker is needed to use Fibo Scalper?
The indicator works with all brokers that support MetaTrader 4 and 5. Both ECN and market maker brokers can be used.
What currency pairs can be traded with Fibo Scalper?
Scalper can analyze any of the major, minor and exotic currency pairs traded on the forex market.
What timeframes can be used for trading signals?
The indicator is optimized for the 1 minute and 5 minute charts for scalping, but it can also be used on higher timeframes of 15 minutes and above.
Is Fibo Quantum Scalper fully automated or manual?
Scalper provides manual signals that require the trader to manually place trades. It is not an automated trading robot.
How many signals can I expect daily?
On average, users can anticipate anywhere from 2 to 10 trading signals per day, depending on market volatility and timeframe used.
How is Fibo Quantum Scalper different from other Fibonacci indicators?
It incorporates custom Fibonacci calculations optimized specifically for scalping on lower timeframes, making it uniquely suited to short-term traders.
Can this indicator be used for other markets besides forex?
Scalper is designed exclusively for the forex market. It cannot be used with other asset classes.
Is there a money back guarantee available?
Yes, Scalper comes with a 30-day money back guarantee when purchased through the vendor’s website. Refunds are processed via ClickBank.
The Bottom Line
Fibo Quantum Scalper provides an easy way for traders to capitalize on short-term price movements using custom Fibonacci ratios combined with scalping techniques. The indicator delivers high probability setups, but traders should employ prudent analysis and risk management for best results. For the affordable price, it’s worth testing out with the money back guarantee.