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A Simple Introduction
Hello to all fellow traders – and welcome to the Black Dog Trading Strategy.
I congratulate you on your wise investment and I hope that the Black Dog serves you well for many years to come, forming part of your trading arsenal in the constant battle with the forex market. The Black Dog Trading Strategy (or BD from here on in) is the only strategy that I personally use, but it does no harm to have other big guns on your side enabling you to change tack, so to speak, and attack those markets from a new angle. I am all in favour of extracting profits no matter what it takes. It sure beats losing! But, like I say, the BD is all I need to make a comfortable living, so I’ll stay with it.
There are days, I’m sure you will agree, when things get a little boring. Trading is not the most exciting pastime there is. And it’s that boredom that led me to thinking of starting a website, trading together with some local guys (no females as yet!), and ultimately offering the BD to anyone who would care to use its simplicity in making some cash. Hence this e-book.
Let me start as I mean to go on; we Yorkshiremen tend to get straight to the point so I won’t linger on this intro. I am not a writer, I am not a salesman, I am not a philosopher. I am, believe it or not, a full time trader, a trader who has developed a successful strategy to extract cash from the greatest bank in the world without too much hassle. So why sell it?
What would you do? C’mon, let’s be honest!
Answer: to generate extra income to place into a trading account which would enable playing for higher lots. Simple. Don’t ever listen to all the bull about: ‘the markets are big enough for all of us’; ‘I like to help less experienced traders just starting on their careers’; ‘many traders using this strategy won’t affect the market’; ‘by making this affordable to new traders, blah blah blah ……’. Honesty please. Money makes the world go round, so I‘ll not labour the point.
Talking about honesty, the reason this page is staring at you is because you want to make money, and lots of it. True? With this system you WILL be profitable, if - you - follow - the - rules. Very important. The information in the following pages presents a very simple and uncomplicated means of trading the forex markets. Simplicity is the key, a key I found after almost eleven years of trading. I’ve traded ‘complicated’, and I’ve traded ‘very complicated’, but it’s the simple ways of trading that produced the consistent gains. Bear that in mind. Simplicity. Wins every time.
The well-known acronym used in trading is KISS … Keep It Simple Sir.
I agree 100%, and its what you’ll find here. Will there be regular, high-probability trades? Almost every day there will be quite a few. It’s managing them that poses the problem. I can cope with four open trades, not more. But that’s me, but you may be a very capable trade manager, so, go for it!
What is a pip? What do brokers do? What are probabilities? What are fundamentals? Well, you’re going to have to find out. Explaining these is not my job. You won’t find the answers on these pages. There’s no fluff here, no padding on page after page to justify the often very high cost of an e-book. What you will get is some of my (experienced?) thoughts along the way as they relate to the subject in hand using a blue font. Once or twice, I may rant on for a little. I apologise in advance. Don’t take everything I say at face value, check it out for yourself. These pages tell the story of how I trade, and of how I trade this system. Plus there will be a few words on how I developed the system. I am now profitable after a long forex journey.
Let me shorten that journey for you.
North Yorkshire
May 2008
Abbreviations used in this e-book:
BD The Black Dog System
TF timeframe
SL stop loss
TS trailing stop
DS disaster stop
PT profit target
EMA exponential moving average
MA moving average
MACD moving average convergence divergence
MTF multi time frame
SES standard entry signal
FT free trade
IB inside bar
OB outside bar
m minute