Karl Dittmann: A Review of His Forex Trading Products and Indicators
Karl Dittmann is a well-known figure in the forex trading community, having created numerous trading systems, indicators, and expert advisors for MetaTrader over the years. However, despite his popularity, Dittmann’s products have received mixed reviews from traders. This article provides an in-depth and unbiased review of Karl Dittmann and his various forex trading tools.
Dittmann’s Trading Philosophies and Methods
Despite the mystery around his identity, Dittmann has released numerous trading systems, ebooks, videos, and indicators over the past decade. His products cover strategies for forex, stocks, options, and futures. Several consistent themes and philosophies can be seen across Dittmann’s trading approach:
- Simplicity – Dittmann focuses on simple, easy-to-use strategies suitable for beginners. His methods usually involve basic indicators and price action analysis.
- Mechanical rules – Dittmann stresses the importance of mechanical, rules-based trading systems. His strategies involve specific entry and exit rules with defined stop losses.
- Risk management – Effective risk management is emphasized in Dittmann’s trading philosophy. He advocates only risking 1-2% of capital per trade.
- Fundamentals over technicals – While Dittmann uses technical indicators, he views fundamental analysis as more important. His strategies look at larger market forces.
Some of Dittmann’s most heavily marketed products include:
- Forex Secret Signal – Uses support and resistance levels and price action to time entries and exits.
- DNA Scalper – Aims to capitalize on short-term price movements using stochastic and RSI indicators.
- PZ Turtle Trading – Follows the famous Turtle Trading system devised by Richard Dennis.
- Forex Trend Detector – Attempts to ride long-term trends using moving average crossovers.
Criticisms and Controversy
Despite his popularity, Dittmann and his trading systems have drawn some significant criticisms:
- Lack of verified track record – Dittmann does not provide verified account statements to prove the profitability of his systems.
- Unethical marketing – Critics point to sensationalized sales tactics with unrealistic income claims used to market his products.
- Paid actors – Some testimonials and reviews of Dittmann’s systems allegedly come from paid actors, not real traders.
- Repackaged concepts – Experienced traders argue Dittmann repackages generic trading concepts while claiming they are his proprietary strategies.
- Refund issues – Traders complain of difficulties getting refunds from Dittmann’s company for products that fail to live up to promises.
- Identity deception – Many believe “Karl Dittmann” is a fake persona used to sell products, raising ethical questions.
Ease of Use
Most of Karl Dittmann’s trading tools are marketed as simple and beginner friendly. For example, his 100 Pips Daily strategy involves just one trade per day based on a single indicator.
In reality, users report that Dittmann’s indicators have unclear entry and exit rules. His manuals are often vague, lacking specific details and setup conditions.
While Dittmann’s products appear simple on the surface, they have nuances that make them difficult to implement for complete beginners. His tools require some subjective interpretation and discretion.
For experienced traders with coding skills, Dittmann’s indicators may be easier to use after tweaking the code to suit their needs. But for most people, his tools lack the plug-and-play simplicity advertised.
Quality of Support
Support is one area where Dittmann’s services fall short, according to user reviews. Customers report long waiting times for responses from his support team.
When support replies do come, they are often generic and useless for troubleshooting issues. Support seems reluctant to give refunds despite Dittmann’s money back guarantees.
Overall, the quality of customer service and willingness to stand behind products appears lacking based on feedback about Dittmann’s support policies. Users report better experiences getting help from forex forums than his official support channels.
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Pricing of Products
Karl Dittmann charges premium prices for his trading tools, which is questionable considering their quality. His products are priced between $100 and $300 when first launched.
These prices are on the higher end compared to other commercial forex indicators. Given the flaws and limitations reported by users of Dittmann’s tools, most feel the prices are not justified.
Lower priced competitors often offer better performing solutions than Dittmann’s overpriced products. There are also free custom indicators shared by generous coders on forex websites and forums.
Reputation Among Traders
Karl Dittmann is a polarizing figure in the retail trading space. A segment of newbie traders praise his products after watching Dittmann’s compelling sales pitches. However, experienced traders hold a more negative view.
On trading forums like ForexFactory, Dittmann has been accused of being a “scam artist” and “snake oil salesman”. While harsh, this reflects the reputation he has developed among the informed forex community.
Overall, Dittmann seems to appeal primarily to new traders lacking experience identifying quality trading tools versus overhyped products. Veteran traders advise avoiding his products and learning skills from trustworthy sources.
Verdict: Use Other Options
In summary, Karl Dittmann has built a business selling mediocre trading products at inflated prices, marketed using dubious claims. While some aspects may work to a limited extent, most experienced traders recommend looking elsewhere.
For beginners seeking forex education or indicators, there are far better options, both free and paid. Dittmann’s products pale in comparison to leading commercial systems like Kunal Desai’s KUASA Forex.
Avoid wasting money and time on Dittmann’s questionable trading tools. Learn proper skills from respected sources instead. With dedication and practice, profitable forex trading is achievable without questionable shortcuts.