Good day yesterday for Black Dog Forex. Could have actually been a bit better but made the wrong choice on the 12am candle & chose to go with the potential usd/chf instead of the gbp/usd and it turned out a loser whereas the gbp/usd was winner. Still 40 pips though so no complaints at all.
You can get more details here Black Dog Trading System
Running total 3913 pips
Just wanted to clarify the strategy i use with Black Dog again. Its simple because i’m not good with systems and strategies where there are a lot of if’s and but’s – ‘if thats there then you can’t do that except when its there & you can do that but only on a Tuesday morning’.
Its not that i dont think there are complex systems that work, i’m sure there are, but i just think the less moving parts there are the less can go wrong or at least you think is going wrong and then start messing with it.
The main thing here is getting the indicators set up – once thats done the actual trading is straightforward & unambiguous & to be honest thats very easy.
First of all ive got to say that these rules are on the Black Dog members site in various places so im not claiming them as my own. I think this method has the least additional indicators i’ve seen though and i’m sure it gets me into trades i shouldnt but its definitely working overall.
The first rule for me is the 1hr MACD has to be the right colour for buy/sell and the lines have to be in the right order to confirm the trend. Only then can i look at possible entries.
My entries now are basically going to be made off the 15 ema – if the price has gone through it & bounced off or gone through it & is now reversing to come back through (as long as MACD still right obviously) its a trade.
Close of trigger candle has to be maximum 20 pips from ema plus the 3 pips past high/low point of previous candle. ie if the wick of the previous candle was 11 pips from 15 ema i will enter when the price has confirmed the move by moving past the level which is 14 pips away. Chart above probably explains it better. (Let me know if this doesnt make sense – dont think i’ve explained it too well)