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I have been with the dogs for last nine months or so. I've already in a position to make live trades and most importantly profitable ones. Without any doubt, it has only been possible for two things, namely
(1) A good system and
(2) A great supporting community
I'm gonna go a bit about the points.
Black Dog system has everything one needs to trade the FX when it comes to adding indicators and templates to the chart, not a single more indicator is needed to make a profitable trade. Secondly, Black Dog systems are well defined and described with visual representations that makes it easier to understand. Any serious trader could make it if proper study time and chart time are invested.
Now comes the second point in discussion which is the supporting community one gets right after (s)he registers for the system. I'm not gonna go much about it. I have only one word to describe the community - the best.
Having said all this, before I pen down, for those who are yet to make any system working for them, I would like to say that the system works only when you want it to. It is YOU who should work and give it a proper go because, you will be using it; not the other way around.
Happy trading to all
Black Dog Trader.
I have posted many bad reviews on FPA recently, and I thought it good to post a positive review for one of the few FX products I've ever used that has been helpful / profitable.
Let it be known that I am only reviewing the forum / system itself... this is not a signal service. There is primarily an education site with a core group of dedicated members. These members have proven themselves to be good traders and are very generous with their time.
THE REAL STRENGTH OF THE BD SYSTEM IS THE COMMUNITY OF TRADERS SURROUNDING IT... some of which have been around for five or six years.
When I was getting on my feet in early 2011, I had numerous offers for one-on-one coaching sessions via Skype - and not just from Black Dog Dave... Also from other core members.
As far as the system itself.... I actually hesitate to call it a system. There are many mechanical systems out there that you can use, with hard and fast rules. I have purchased my fair share and lost my fair share of money.
I think what is helpful to know about this forum is that there are guidelines and basic indicators that are used, but you are truly learning to trade price action. The "system" / indicator set is (and I am editorializing now - this is my opinion only) merely a lens through which you view the price action that is happening in the market. Seriously... does the average retail trader stand a chance trading against major banks who have HFT capability, auto-traders, inside information, entire teams of analysts dedicated to a single currency pair, etc.? I would say NO.
Thus, the only way to "win" in Forex is to not play that game, in my opinion. This is a much more basic approach, one that capitalizes a few patterns that repeat in the market... EVERY DAY, and on EVERY TIME FRAME.
That leads me to my next point... there are sub forums within the forum dedicated to every trader's potential style... from 1 minute charts up to higher time frames (daily and weekly charts). Also, there is really only one system, but there are five versions or "views" of the basic system (original, mtf1, mtf2, mtf3, and Quick Fix). New members are given access to the basic rules in the Quick Fix section... I myself have traded this with success. After you reach a certain number of posts on the forum, you are allowed access into the other views. I would say this is a good move on Dave's part.... helping traders succeed by having them learn the PRICE ACTION rules on the simplest version of the system.
Do I have complaints? Not really. I give this only 4 stars instead of 5 because the forum was very overwhelming / confusing to me as a newbie two years ago. All of the active traders and newbie traders have journals and record their trades... and it seems like the BD rules are a starting place for most people. Most people (including some of the core members) have tweaks to the basic rules to fit their basic style.
The vast majority of people trade off of 15 min charts... but there is a whole range of versions of how to manage trades once you have a "Black Dog entry". Some people have static stop losses, others use swing highs or lows, some use pivots, others use it based on ATR, etc. For targets... there are some people on the forum or in the live trade room that use (seriously) 3 pip targets. There are others (like myself) who won't take less than 20 pips. Some people trade Asian, some people trade London, some people trade New York, etc.
I have to say - though - if you dedicate yourself to the forum, you will likely end up a great trader or (like me) a halfway decent one. At the end of the day... unless you are subscribing to a reputable signal service... there is no magic bullet and your success as a trader is directly proportional the time and effort you put in to it.
Not everyone can trade the BD's as there is a certain amount of work you have to do yourselves - if not prepared to do this then the result is similar to the review below this one.
All indicators lag and most repaint in real time Chris, you should know this. Yes, we advocate trading price action as it relates to our indicators and this is clearly described on the forum, I continually go on about it in the Trading Room on how to do it, as do other senior members, I have posted chart after chart of trading price action in my, and others, journals. I have done umpteen skype calls with individual members using Mikogo (screen-sharing tool) and group sessions too describing how we trade price action. If you missed them, or couldn't be bothered to visit our Trading Room - it is hardly the fault of the system. Similarly, if you didn't have a skype chat with me or another senior member, how is it the systems fault.
The assistance is there - all you have to do is use it..!! Absolutely free. We cannot do the trades for you. Most other system providers charge for their support - not so at the Dogs.
My personal hit-rate this last month (August) was 68% - not the best of months and I usually do better, posting most of my trades in my journal for all to see. I often call out trades in the Trading Room but it must be remembered that we are not a signal service.
My money is made from trading alone which gives me a very good lifestyle here in Spain. Sales of the Dogs wouldn't pay my drinks bill..!!
I see that you checked the system for a week - wow, that should really give you a good idea on how it works. Bottom line is that you didn't seek assistance as is clearly stated on the forum when it is obvious that you didn't understand the methodology.
A bad workman blames his tools.....
Problem is the lagging indicators and the repainting here,its so bad.I tried for 6 months to get this working and could not like most others on the forum.Dave says price action is the main indicator here,but does not tell you how to use it.its either price is to far from NTZ or messy price action ETC.
The help is good from the members here.I now trade very well with another price action method that really works.Im not convinced with the 75% strike rate dave claims,its clear he makes his money mostly not from trading,he has stated this on the chat.Wasted time on money with this method.
2010-05-19 2StarUnfortunately I can't agree with the other traders here.
I have tried the Black Dog system, using the rules exactly to the letter. I traded for a week using 15min chart, then a week using 5min chart, all the time checking with higher time charts as recommended.
Performance was wildly varied - some days I made 100 pips, some days I lost 100 pips, some days there were no significant trades at all.
The problem to me seems to be that the system gives you signals several minutes after the move has started. By that time the chance of retracement is high and it's 50/50 whether the trade will come off or not.
I'm afraid I can't recommend the system.
I have traded the Black Dog System for over 2 years....before coming to the Black Dog System, I had absolutely no forex experience.. I had just retired from my own business and was determined to make it my plan to become successful trading the system. Sure I had to put in tons of hours....had no free time for myself...7 days a week...12 hours a day...you get out what you put into it...but it has paid off , I can now say I trade for a living making a professional salary.
The system designer, Dave Atkinson is a real straight shooter...doesn't make outrageous claims....just 30-40 pips per day....not giving false promises of making 100+ pips per day...like others claim. Mr Atkinson spends most of his day supporting fellow traders by way of Skype and Mikogo sessions..including e-mails for those with general inquiries. I am in the trading room daily...every morning Dave comes into the room to assist traders with possible trades including exact entry points and exits, answers any and all questions....real added bonus to have the use of a free " active" trading room.....Dave continually gives updates on any new trading strategies he has within the system..markets change all the time, therefore you are never left alone.
I count my blessings that I found the Black Dog system first....rather than buying any other garbage on the market. If you want to trade forex and have 100% support and never being left alone...the Black Dog System is for you! ....the only thing that is going to stop you from becoming successful, is that person in the mirror.
2009-02-05 5 star Black Dog Trading System is honestly the best forex trading system . I have been trading the system with real money for about three months with positive results weekly. The Black Dog System offers a forum which is very active, consisting of new traders all the way up to seasoned traders. All questions are usually answered within an hour, and the most important thing it is absolutely FREE. Traders post charts daily showing both there winning and losing trades for everyone to analyze, which is a great learning tool. This is not a get rich quick system,but a system designed which allows you to let your account grow positively without large draw downs. Dave Atkinson, the developer , has really hit a home run with this system YOU WILL NOT BE DISSAPOINTED! .....bd007
I notice that my previous posts did not receive a rating. For the sake of the record, The Black Dog system reigns supreme!! DEFINITELY 5 STARS!!!!!! For it and its owner.
I purchased the system at the beginning of the year and did very little if i am honest, i went in search of other better systems. Guess what i didnt find them so have returned to the BD community. Great system, great people now its down to me to use the system to become a great trader! Thanks Dave
I am bewildered!
Yousafzai states: "if my system is 95% Black Dog, then how come it is NOT Black Dog?" But further down he states "whereas in my template the only thing added was a Fractal indicator". How he contradicts and discredits himself!
He talks about the Standard Entry Signals being so late that it gets you into a trade right at the end of the trend/wave. OMG!!! He still doesn't understand the Black Dog system! And he, Yosafzai, was going to lauch a simplified version of Black Dog with only 3 indicators! Shame!
In any case, he's out of order. The only person who has the prerogative to lauch anything at all, is the originator of the system. Clearly Yousafzai suffers from delusions of grandeur...or maybe there was something more sinister.... see my previous post.
"Prerogative" - Imran, if you struggle with the meaning of words such as these, there's a book called The Oxford Dictionary.............
Yousafzai now believes Dave Atkinson does not trade for a living. Yousafzai is probably also a member of the Flat Earth society.........
Yousafzai, Birmingham......yes,he would have to live in some large place where he could vanish into obscurity. From his ravings the only conclusion one can come to is that if he lived in something smaller, he would qualify as the village idiot.
I bought Dave Atkinson's Black Dog manual sometime ago and traded it successfully for a while, but like many others got sidetracked by other/better systems (lol); all part of the journey to learning to trade forex
I returned to the site recently and spent some time in the forum reading the updated manuals and tactics to trade the system.
I also found quite a number of journals where many traders had posted their trades. Some of the journals were from very experienced traders and contained a great deal of useful information about how to approach forex trading and how to apply the Black Dogs system. The journals contained many examples of trades taken using Black Dogs. Dave has also written extensively on the new indicators and tactics to use.
Also in the forum are a number of very useful indicators and alerts. I am not a great fan of indicators, but the higher TF MACD and its application makes it much easier to evaluate potential trades
In addition there are sections on different approaches and entry techniques.
Yousafsai's comments about the Black Dog system are laughable when you read some of his comments in other people journals
I did not get a chance to read his all his journal before it was removed, but the few charts I saw looked exactly like the BD set up with SR boxes
He is right when he says that the system cannot make you a successful trader by itself - that is down to you; and to be a successful trader you need a number of things; the most important are the mental attributes of patience, discipline and perseverance; secondly you must have some understanding of the forex market, why it moves when it moves - and as important, when it is unlikely to move, what are the forces driving it and thirdly, you must have a good system. Blackdogsystem is a robust, flexible and logical system, that uses a well understood and repeatable pattern in the forex market. Since its creation, it has been extensively developed and is now well supported.
Will it make you a successful forex trader by itself; no it wont. You need to put in the screen time to learn how the market works and follow the bars and apply the system. But it will provide you with a good framework and the forum and chat room will provide you will all the support you will need.
A very good and honest system and service. Remarkable value.
When I heard that my mentors - full time professionals of 30+ years from Chicago and Florida - actually used BlackDog as part of their trading I decided I probably needed to get this. Then when another full time trader here in the UK told me that if he had to choose just one service/system in order to make a living it would be Black Dog I decided to go ahead immediately, He went on to explain how the system, customer service, community, support & forum were all all outstanding and that there are traders who make a full time living from it flagging up potential trades in a free chat room every day - and all this at no extra cost.
All of this to my delight has turned out to be true, and I couldn't be happier.
There's plenty of reading to do to get your head around the methods (which are all very similar), but it is all very simple indeed once the penny drops, and actually a great way to learn straightforward, practical trading.