Black Dog Forex Trading Journal

paulcu

Active Trader
Jan 18, 2010
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0
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I'm going to record the results of using Black Dog Forex Trading System here - been using it for a good while & hopefully recording it in this forum & on my blog improve my discipline in its use.

I'm only focusing on 2 pairs at the moment EUR/USD & AUD/USD may increase to about 6 when get more proficient but just want to ensure using it properly initially. Going for 20 pips per trade and 20 pip stop loss.

Wednesday 20th Jan - 4 trades - 4 winners +80 pips

For more info on what the systems about;
 

thehenryfam

Active Trader
May 19, 2009
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Which session are you trading? I thought the Black Dog looked like a promising system and was thinking about trying it, but it appeared that the author is in the UK and highly recommends trading the European session. And I'm just not willing to give up my sleep, frankly.

They did say something about being able to trade it on higher timeframes, which would eliminate some of the session specific issues. Can you speak to any of these things?

Thanks.
 

harry__

Active Trader
Jan 27, 2010
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0
32
hi , I also new and try this system.

today my first trade audusd , take only 15 pips, coz of double bottom and no want wait to the news 45 min later ( us home sales )

I trade the europe - london session, as the pdf guide say.

he recommend chart M15, but if you don't like this time, he also say you can trade D1 or H4:

What time frame (TF) should you trade? It all depends on your
circumstances, your lifestyle, your job, your family. In fact any number of possibilities can
influence your trading time frame. It's just something that you need to work out for yourself,
unfortunately we at BD cannot assist you in this decision. If you work full time then the Daily
charts are probably the best TF to trade, or maybe the four hour charts (H4).

Me? I have a patience problem. I cannot trade anything higher than a 15 minute TF. This is not
to say that there are no trading opportunities on the higher TFs, there are many as we will see
shortly. But I must explain to you why I trade the 15m TF as most of the charts shown will be
15m. Now, I usually trade the 15 minute timeframe simply because I can find three or four
decent trades in the morning (usually on different currency pairs) and forget about trading for the
rest of the day.


will also report again

cheers
 

Vanhook2

Active Trader
Jan 28, 2010
10
0
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-5 GMT
OK, I'm in

Here is a nice little trade with Black Dog on the GBP/JPY from a couple of days ago. +40, +100, +80. I had my trailing stop set just about right.

I hope this thread takes off, as I'm new the BD system & hope to learn from others that have traded with it successfully for a longer time.

Is any one using any of the Mini Trend Finders?
 

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Vanhook2

Active Trader
Jan 28, 2010
10
0
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-5 GMT
The System Rules & Time Frames from the manual

Rule #1
For intra-day trading on time frames under one hour, trade only from the London open until 18:00 GMT ( 4 AM to 12PM EST ? ). Close all trades for the night.

Rule #2
If you must trade, then always trade in the direction indicated by the last Black Dog. No exceptions.

Recommended Time Frames
5M, 15M, 30M, 1H, 4H, 1D

For more rules, see this post #15:
http://www.earnforex.com/forum/9138-post15.html
 
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Vanhook2

Active Trader
Jan 28, 2010
10
0
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-5 GMT
Something I noticed about the MFT (xpMA) setup

Attached are 2 GBP/USD charts from today.

The 1st, a 15M. Notice the time of the Black Dog.

The 2nd, a 5M. The BD signal came in 30 minutes sooner (dotted black line is the 15M signal).:eek:
I have seen this on some other pairs also today.

Also, notice how the bottom indicator went flat after the signal on the 15M.


Looks like the 5M for me.:rolleyes:
 

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pcguy007

Active Trader
Oct 22, 2009
6
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Hi Vanhook, are you using an EA with the black dog?

I'm curious what pairs and timeframes you prefer?

I've been playing with the system for the asian session but not having much luck, new york session is okay but you have to babysit it.
 

Vanhook2

Active Trader
Jan 28, 2010
10
0
42
-5 GMT
Hi Vanhook, are you using an EA with the black dog?

I'm curious what pairs and timeframes you prefer?

I've been playing with the system for the asian session but not having much luck, new york session is okay but you have to babysit it.

Yes, the EA I'm using is a trade manager called Update Stops to BEv3.
It sets my S/L & T/Ps. The only thing I have to do is figure out what is a those are for each pair & press the buy or sell botton.

As for your 2 other questions, please see my other posts in this thread.
 

Vanhook2

Active Trader
Jan 28, 2010
10
0
42
-5 GMT
Update Stops to BEv3

Here is that EA.

Sorry, I have not found a manual to go with.:(
Maybe someone has it or can find it.

As for the settings, I have found that each broker has their own quirks that must be dealt with.

TP's & SL's are a personal choice for each trade to figure out.
 

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Vanhook2

Active Trader
Jan 28, 2010
10
0
42
-5 GMT
Well....

Hi Vanhook, do you think this system can be used to scalp?

Scalp for how many pips? Why not?

I try for 40 -> 50 pips on each trade I take.
If I see it is moving real fast, I turn off my EA & let it run.
 

pcguy007

Active Trader
Oct 22, 2009
6
0
32
I was thinking of trying to scalp on M1 and M5 on EURUSD and maybe EURJPY

i figure if i can get 10 pips here and there i'm golden.
 

Enivid

Administrator
Staff member
Nov 30, 2008
16,844
984
144
Odessa
www.earnforex.com
I was thinking of trying to scalp on M1 and M5 on EURUSD and maybe EURJPY

i figure if i can get 10 pips here and there i'm golden.
You'll be losing a big portion of your profit to the broker's spread. When you earn 10 pips a trade and have to pay 2 pips per trade it's 20%. When you earn 200 pips a trade with 2 pips spread you lose only 1% to spread.
 

Vanhook2

Active Trader
Jan 28, 2010
10
0
42
-5 GMT
I was thinking of trying to scalp on M1 and M5 on EURUSD and maybe EURJPY

i figure if i can get 10 pips here and there i'm golden.

Take a look at the chart.
Notice the horizontal lines.
They are set for 50 pips, that give me a good idea of what the price action is.
With a 10 pip TP, not only will your broker love you, but you will end up over trading. I make 2 maybe 3 trades a day. I prefer the G/U, E/J & the "Beast" G/J.

I have attached that indicator.
If your broker has a 5 decimal system, you will need to set the HGrid Pips to 500.
 

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Vanhook2

Active Trader
Jan 28, 2010
10
0
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-5 GMT
I just found this......

The following was copied from another site.
These rules are not mine.:eek:
But they make sense.:D

IS IT A VALID TRADE OR NOT?

MTF3 or SES indicator signals potential trade
(Also trade retracements which go down/up through the 15 ema then retrace using the same criteria.)
Trade in direction of latest black dog?
Macd above 0 for buy - below 0 for sell
Close enough to ma’s ie no more than 20 pips or so away from 15 ema & 40 from 50’s channels.
15 ema clear of 50’s channel or very close
Enter 3 pips beyond high/low of signal candle to get a bit of market confirmation
Dont trade around the time of major news announcements

MANAGING TRADE

If it is a trade then;
30 pip ‘hard stop’
100 pip profit limit
Close trade as soon as price closes in the ma’s & re-enter if get SES in right direction (if price not too far from MA’s)
When goes to 20 pips profit 2/3 off then let the 1/3 run
Move stop loss up to entry point to guarantee at least 13 pips profit
Close when price closes in the MA’s or @ 18.00
 

Vanhook2

Active Trader
Jan 28, 2010
10
0
42
-5 GMT
MFT 3

Just a chart of Mini Trend Finder 3.
 

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Gilead

Active Trader
Mar 2, 2010
1
0
32
Here is a nice little trade with Black Dog on the GBP/JPY from a couple of days ago. +40, +100, +80. I had my trailing stop set just about right.

I hope this thread takes off, as I'm new the BD system & hope to learn from others that have traded with it successfully for a longer time.

Is any one using any of the Mini Trend Finders?
Hi Vanhook - How's the BD system doing for you?