My Black Dog Rules

A few viewers of the blog have asked me if i have any specific rules i apply to my trading of the Black Dog Forex system so i just wanted to record them somewhere for easy reference.

First of all i’ve got to say that these rules are on the Black Dog members site in various places so i’m not claiming them as my own - i just wanted a central place to have them listed altogether so i & others if they want to can refer to them.

Probably looks like a lot of filters but after a few weeks most of them you’ll automatically pick up with a quick scan and the others are done for you with the supplied indicators. Any queries let me know.  If you dont have the system yet more info here.

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

Some more reviews of the system here