Hi Everybody!
After reviewing MinMax Scalper I got a ton of thank-you emails! So many of you were thanking me for saving your money and warning about most likely unnecessary purchase. Getting such an overwhelming feedback is really nice, not gonna lie – but still, I decided not to review Karl Dittmann’s products in the future. I analyzed a lot of the tools he offers and came to the conclusion that all of them are mostly the same in terms of quality – so why would I need more negative reviews in my blog?
But Karl himself made me change my mind. Before the release of Nova Scalper he bombarded me with emails saying that he is preparing something new, extraordinary and unique, something that we’ve never seen before.
And I bought it! I was waiting patiently for the release date with my credit card in hand. I was ready to see some amazing product with a complicated algorithm and Money Management. But all I got in the end was a standard Karl Ditttmann indicator for lower timeframe with Optimal Entry feature implemented that we have already seen before. I swore and closed the website.
Speaking of the website – it hasn’t changed for more than 6 years! The only thing that changes is the color scheme and the sales pitch (and sometimes even those stay the same – I told you that I analyzed everything thoroughly). You may say that it doesn’t matter, but for me the effort put into the presentation speaks volumes regarding its creator. When you are proud of your brain child, you want to present it to the public in some special way – right?
Why did this review come to light, you ask? Only because of your requests. I guess Karl managed to intrigue you as well. I thought about it for a while and decided that I created this blog as an answer to average trader’s needs, who are wondering whether they want to waste their time and money on another Holy Grail.
I got Nova Scalper on the third day after its release. That was when Karl announced that Nova Scalper works on XAU/USD and XAG/USD. “Well, at least this is something new”, so I thought and got the tool.
Nova Scalper Characteristics
Software Type: Indicator (can be turned into a semi-EA)
Platform: MetaTrader4
Timeframes: M1, M5, M15
Pairs and assets: all major currency pairs + XAU/USD, XAG/USD
Repaint: no
Special Features: Optimal Entry, Adaptive TP and SL levels
Price: $147
My experience with Nova Scalper
Unfortunately, downloading and installing Nova Scalper was not an easy process. After the purchase I got the Members Area link, but it kept redirecting me to the sales page, and after a while the Nova Scalper website crashed completely.
That is when I turned to tech support. To my surprise, I got the answer only the next day – it contained the same link as before, fortunately, it started working. And not a single “sorry for inconvenience” – well, thank you for finally giving access at least!
So, I decided that the first matter of business was to search the user guide for the information regarding Trading Rules. The last time it didn’t help. I got several questions regarding Nova Scalper:
1. Which entry point is better? Standard or Optimal Entry? The screenshots on the website don’t give a definitive answer, and the total number of pips is summed up! They must imply that you need to enter each trade twice, earlier and later. That turned out to be true – Karl says that if you want to multiply your profit, you need to enter trades twice.
Judging from the screenshots on the website, we can say that the difference between the two entry points is really small, so it would make more sense to just increase the lot size a bit and enter only once, than to do what Karl recommends.
But we want to get the most out of the tool, so we will do as Karl says.
*He also says in the user guide that if you are a conservative trader it’s better to enter at Optimal Entry and ignore the main signal. But that sounds boring.
2. My second question was regarding an exit point. This was very confusing as well – on one hand the website screenshots show us trades being exited when the next opposite signal is generated, but in the promotional emails and the texts on the website Karl promotes his new feature, adaptive TakeProfit and StopLoss values. He spends a great deal of time describing their advantages, but shows exactly zero examples on the screenshots.
The user guide was clear at this: the recommended exit option is at the opposite signal. Well, we are going to follow the recommendations here as well.
My results with Nova Scalper
Before starting trading, I studied the previous history on major pairs and gold.
What can I say: for the most part the signals are far from perfect, the website’s trades were cherry-picked from the majority, but the overall picture still looks much better than it was with MinMax Scalper. If with MinMax Scalper the win rate was about 22%, then Nova Scalper comes closer to 35%.
It goes like this: because the recommended StopLoss levels are quite wide, the trade doesn’t close even when the price moves several candles in the wrong direction. Usually, I closed my trades with a minus myself when there was an opposite signal generated.
Of course, every once in a while we get a long signal that brings the big number of pips. Such strong market movements do not happen too often, so I wouldn’t count on these successful trades. However, if you decide to trade with Nova Scalper, I would recommend choosing opposite signal as the exit option as well, so that you can recover from your previous losses.
As for the Optimal Entry feature, it wasn’t very useful right as I expected. It was especially confusing to enter the same trade the second time when the first one is in minus. Many times this feature just doubled my losses. So, I would recommend to follow the main signals only.
Contact Karl Dittmann: karl@karldittmann.com
Contact me: trentbaxter@forexrealreviews.com
Hi, Trent! Same here: I expected an EA or at least something really new. Anyway, thank you for the review!
I read your review twice and still dont understand, do you recommend nova scalper indicator or not? Did you decide to keep it or asked for a refund?
I refunded this order because the win ratio is still very low (35% wins out of total trades). No indicator is perfect but there are tools that are more accurate.
Hello! The review is great as usual, thank you for your work. Please tell me, do you plan to make a review on Oracle Scalper by Oliver Murphy? The examples on the page look very promising and I heard mainly positive feedback. It will be very useful to know your opinion on this.
Hello, Gregorio! Yes, there were other requests to do it, so I will post the review in the near future. Oliver Murphy even gave me a free trial to complete it.
I really like your blog, it’s 100% unique, please keep going, you saved me a $1000 already!
Hi Trent, You have done an excellent job. Thank you!
Karl Dittman is a world renown scammer
The robot seems like an indicator that I once had so I don’t know what to think as most of robot are just revamp old robot with few colours here and there
I like the helpful info you provide in your articles.