Tough day to be trading the Black Dogs today – loss of 65 pips. Suppose losing days always make you re-evaluate the way you’re trading and wether it would have been possible to avoid some losers. I think it would have been today if, instead of taking all the trades, i’d taken just the ones which were close to the ema’s.
This would mean less opportunities and on some days you’d miss a lot of winning trades but i think , in the long term, would definitely increase your winning trade ratio.
Below is the EUR/USD which is a good example of what i’m talking about – the trade coming out the ma’s is nice and strong & goes on to make loads of pips whereas the signal at the top is given when the price is a long way from the ma’s and the trend has run out of steam. Not correct 100% of the time but i think picking the signals more carefully will reduce losers which can be damaging psychologically as much as financially.
eur/usd -5 pips
usd/chf -30 pips
usd/jpy +5 pips
eur/jpy -35 pips
aud/usd +10 pips
7 winners 9 losers
-65 x £5 = – £325
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