Frequently Asked Questions
You really shouldn't have any problems at all using the Black Dog Program as it is very simple in its concept. Nevertheless, it is always better to err on the side of caution when dealing with your hard earned cash. So definitely BEFORE placing any trades using ANY system please make sure that all the rules are fully understood, your charts are as they should be, and you have at least spent some time trading with microlots to get a feel for the system. Please, please contact us if you have any problems whatsoever, your query WILL be answered and, if you don't mind, will appear on this page for the benefit of other potential BD traders.
1. GRABBING A COPY OF YOUR BLACK DOG PROGRAM
Q Are there any other charges involved once I have purchased the Black Dog system, a monthly subscription maybe?
A The only thing I ask further from you is to keep in touch and don't become a stranger. Once you have the system on your computer and you have studied the trading instructions, you are up and running. There is nothing else I want from you apart from your company, albeit over the ether. Metatrader is free, the real time data is free, and my support is free. Black Dog owners tend to share anything new that they learn as they master the system.
Q The price of the Black Dog Program seems to be very attractive. Compared to other system vendors why is it so cheap?
A The correct price of the program is $295 and will reach that figure by increments over the next year. It was decided to start at a very low price and gradually raise it in order to let the people who really want to make a go of trading the currency markets start on the right foot. This makes it obtainable and usable by the vast majority of new and beginner traders.
Q How do I use the Paypal links?
A Simply left click on the 'Purchase now' link to the top right of any page, this will enable you to login to Paypal and follow the online instructions. If you do not have a Paypal account look to the bottom left of the screen where it says, ''Don't have a Paypal account?'' then click on Continue. You may then fill in your credit card details in complete safety. Paypal is very secure. There are occasions when clicking on the Paypal link will open a new window with a Paydotcom secure order form, click the Paypal link again and then login to Paypal or click the ''Continue'' link to pay by credit card. Paying by cheque is acceptable but please contact us by e-mail first. We do not use bank transfers or any other method.
Q What happens after I make the purchase?
A You will receive instructions on what to do and where to go. An e-mail is automatically sent to you with full details. Basically, you need to register on this site. Paypal has occasionally in the past failed to send this e-mail, for what reason I do not know. But do not worry, you WILL receive your program so you can read the BD manual, get your downloads, and access all the Black Dog areas.
Q What do I get for my money? I'm told that there are two systems within the program.
A There are now actually three robust systems within the Black Dog Program. The Black Dog System itself, the Mini-trend Finder, and the MTF2. All updates are on the website to which you have constant access, there are plenty of free downloads on the site, access to the members only Black Dog Forum, live training and trading chat room, and Skype access to myself should you have any queries. See the Support section below. Once your account is activated you may enjoy ALL member benefits.
Q What guarantee can you give me that the systems will perform?
A There are no guarantees in forex. If you see one, let me know! Chances are it's a sham. How can different people all trade the same system and get the same results? It's highly unlikely. I can safely say though that I think you will be well satisfied with your investment, your level of confidence in trading the currency markets will grow. I believe in the program and there are many who feel the same way.
Q I would like to trial the Black Dogs for two or three weeks. Is this possible?
A Unfortunately we have no facilities at the moment for offering trials of the program.
Q Is the program automated? Do I have to leave the computer switched on while I sleep or am at work for the Black Dogs to function?
A No, once you are set up and the templates saved, you can switch off and return to Metatrader at any time. The Black Dog systems (3) will be in your Metatrader templates until you delete them. The Black Dog systems are not EAs, They are NOT robot trading systems.
Q Would it be possible to have one-on-one training?
A At the present time there are no plans for this. Maybe at some future date it would be possible but my time is fully accounted for in the foreseeable months. Having said that, we do have training sessions in our own chat rooms conducted by a very able BDog trader on a daily basis. They are proving very popular.
Q Can I contact you by phone to further discuss the program?
A I prefer e-mail simply because of the time constraints. Skype is available to Black Dog members only. I do not have a telephone in my trading office simply to keep distractions to a minimum.
2. VIEWING, AND DOWNLOADING THE PROGRAM
Q How long, on average, would it take to master the system
A Master is a strong word. You could read the program and trade it the same day but this is not recommended. But some people do. The idea is to make money, period. So we don't want to be going off at half-cock. It would be better to take some time to read and digest the material, make sure that your charts are as they should be for all three systems, spend some time on the forum getting to know how other Black Dog traders have fared. In short, get to know the program inside out before laying your money on the line. You could demo trade or trade micro lots for a week to gain a full understanding, you would then realise the full potential of the Dogs and how you need to realise your own potential to work in tandem with them.
Q I am not familiar with Metatrader. Can you help?
A Of course. After you have downloaded Metatrader to your pc simply have a play around with it, you will not do any damage! Unless that is, you have funded a live account then you need to be aware that trades can be entered. Most people download a demo account to familiarise themselves with the workings of Metatrader; it is really easy to use. You need to download from a broker that offers MT4, they are usually very helpful themselves. You can always fund your account at a later date if you are satisfied with their service. When the time comes to download the Black Dog indicators and to set up your charts, I am always available to members who are not familiar with Metatrader. The best and quickest way is to arrange a time for a Skype session by e-mail. You will need a headset with mic for this. It usually takes about 30 mins to an hour.
Q Can I download to more than one computer
A You may download the Black Dog indicators to as many pc's as you wish. Some people have one set up at home, one on a laptop, and one at work!
Q Will your system work on e-signal or other charting packages?
A As far as I am aware, it will not. It must be stated quite clearly here that I am not a computer wizard. There are probably people out there who can make this work on platforms other than Metatrader, but again, I am not aware of it. I think it is safe to say that the Black Dogs will only work on Metatrader. Metatrader is free to download with a free data supply, why not try it? The files that we use are in mq4 format.
Q Describe the program - is it fully mechanical?
A A certain amount of discretion is required to trade the systems but even new traders are mailing me to say how well they are doing with the Dogs. We have several indicators which require to be downloaded to your pc. They are not 'locked' as such and can be accessed if you so wish. We have nothing to hide. There are certain settings for the indicators which are standard for the program as a whole, but there are others which are better set by the individual trader.
3. TIMES - TRADING
Q Are any of the systems optimised or curve fitted for trading, say, the London open?
A All indicators are pre-set for downloading. You may alter them but it is not recommended. Optimisation is not required.
Q What markets are available to trade and which are the best?
A This all depends upon what your broker has to offer and what you are comfortable with yourself in trading. My broker provides forex pairs, some indices, gold, silver, oil, gas, but there are some that provide the S&P, Gold, Oil, and a few indices, eg, DAX, DJI etc. What are the best pairs to trade in the forex market? Again, this all depends upon your comfort zone. You will almost certainly have a 'feel' for the currency of your own country, so it's probably best to make a start there. Otherwise stay with the currencies widely traded such as crossed pairs of the Euro, USD, GBP, YEN, Swiss Franc and Australian Dollar.
Q The 15 minute timeframe is too fast for my liking and tends to be very volatile at times, particularly during news releases. Can I expect the BD system to perform as well on the longer timeframes such as the 4 hour where I feel more at home?
A The Black Dog was developed to be used on any chart and on any time frame. I, personally, have used the BD on currencies, e-mini's, gold, and US stocks (daily charts), commodities are still to be tried but I have great hopes for these too! Obviously you will have fewer trades on higher time frames but the profits will be higher too. All the rules will still apply except Rule #1 when using time frames of 1 hour and above (see manual).
Q Do you have trading statements for the last few months or so, I would like to see how the system has performed.
A Falsifying statements is against the law but is easily done over the internet unfortunately. I do not want to go down the road of arguing my case against any false accusations. For a start, I don't have the time. I'm a trader, and I want to spend my time trading, not arguing. This is an honest site with honest people. If you feel that you cannot purchase without viewing statements then you must try other systems. And I do wish you well. I should direct you to the Testimonials page where these are genuine letters I have received, I have asked permission to use them. I do not ''manufacture'' testimonials, nor do I use them without first contacting the person involved. Should you become a member, you may 'meet' the authors of those testimonials either on the forum or in the chat room.
Q Occasionally, the audio alarms all seem to go off at the same time for three or four currency pairs. Is this normal?
A In a word, yes. Depending upon the time frame you are trading, let's say the 15 minute time frame, then you can expect to receive a signal on any quarter of the hour when a bar or candle closes and the next opens. Related currency pairs may all move enough to generate a signal at the same time. If you trade the 4 hour charts then you would expect to receive signals every 4 hours when the 4 hour bar or candle closes. Sometimes it is difficult to place your trades when you receive three or four signals simultaneously but I must admit, it is a nice position to be in.
Q I notice that you place around 80+ trades per month. Isn't this overtrading?
A Some people may say so. However, consider that there are about twenty trading days per month so this will average out at 4 trades per day. Not too long ago I was placing in excess of twenty trades per day mostly with no plan in place. Deadly! Due to my impatience I like to trade the 15 minute time frame, aim for 20 pips per trade, then finish for the day. For me, it's perfect.
Q Can I trade US or UK stocks using the Black Dog program?
A You can only trade what your broker has to offer on the MT4 that you have downloaded. Check with them before you actually fund your account. When the Black Dogs were in their infancy, I did trade stocks using a 'raw' version of the set up. The current indicators are in .mq4 format and compatible only with Metatrader, so If Metatrader offer a trading instrument, then it is tradable using the Black Dogs. I'm confident that no stocks are as yet available. Edit: FxPro offer the Dow Jones 30 US stocks.
Q I like trading short term on the 5 minute and also the 1 minute charts, am I asking too much of the system?
A Not at all! The three systems are good for all time frames.
Q In the UK we are lucky to be able to use spreadbetting with its tax implications. How does the program address this?
A I occasionally use my Finspreads spreadbet account for no reason other than a change of scenery! How does it work? I simply take the signals from the MT4 charts and enter trades on the Finspreads platform. Easy. There are small discrepancies in price of one or two pips, and maybe the spread is slightly larger on the whole. This is thankfully compensated for by the non-requirement of tax payments.
4. USING THE BLACK DOG PROGRAM
Q Which session is the more productive?
A Again, this depends which time frame that you trade, and which currency. The London and New York sessions tend to have the more liquidity and hence the greater movement in price. The Asian session is good too for the Yen pairs, and Australian and NZ dollars, although there are more 'quieter' periods during this session. Trading the daily time frame, and perhaps the 4 hour, will not require you to bother with session times, but the 15 minute will. You need the market to be moving for you to make those profits. Getting stuck in a flat market is very frustrating especially when you are down a few pips. In Europe, and especially the UK, we are lucky in that we can trade during the two 'lively' sessions.
Q My location, and job, prevent me from trading the London open. Can I get around this?
A We have many traders from around the world including Australia, Japan, Canada, and the US. The best way around this is to trade the higher time frames, the Black Dogs are good for any time frame and will give good signals but obviously of a lesser frequency. The rules are the same for any time frame. Some BD traders trade the H4 chart as their standard trades but trade the 5 minute in the evening.
Q How does the Metatrader work exactly, do I need to pay for a data feed?
A Not all forex brokers offer Metatrader as their trading platform. You need to find one that does. Most let you download a Demo version that allows you to play around with the software so as to familiarise yourself with its workings. It is very easy to use. The Demo version also has a Demo account to go with it, anything up to $100,000 to practice using the software and your trading system. To hone your trading skills! The charts update automatically and there is no need to organise a data feed. The really good thing about Metatrader, and its data feed, is that everything is free. There is nothing to pay.
Q What stop size do you use?
A Once again, this depends upon the pair and the time frame being traded. Higher time frames equal larger stop sizes. The Black Dog Program uses a tool to assist in calculating our stop size for all three systems and on all time frames. The beauty of it is that you can also use this tool to set your profit target too, and in addition, to set the trailing stop size too, if you use one.
Q Your target of 20 pips seems to be quite small. Why not try for greater profits?
A This is simply my style of trading, it may not be yours. You may wish to set higher profit targets, or use the trailing stop function in Metatrader. This is the discretionary part of the system. I cannot expect all traders to trade in my style. The Black Dogs and the SES signal's primary function is to get you good entries, the stop tool looks after your safety. The profit targets are your choice. I must say here though that those 20s do rack up by the end of the week!
Q The Black Dogs and the SES appear to show some great entries. So, trades are entered as soon as they appear?
A The BD and the SES signals do indeed indicate some very good entry points into the market but they alone do not signify our entry points. Their sole purpose is to draw our attention to the computer screen. We do not actually trade the arrows, or their appearance on screen. They tell us that something is happening and we need to look at our other indicators to confirm (or not) whether we should open a trade.
Q Do the systems require constant optimising?
A As mentioned earlier, there is no optimisation required whatsoever. Once your charts are set, they are not subsequently altered in any way. You may open and close your Metatrader, change time frames, or change the template to your heart's content but the set up remains as is.
Q On average, how many trades per day could I expect, and how are they notified?
A This is a tricky question to answer as it depends on the time frame that you trade, how many charts/pairs you have open, and which system you prefer to use. The general movement of the market has some say in this too. The MTFs generate more trading opportunities than the Black Dog system. A very rough guestimate on my set up, which is the 15 minute time frame and, say, six pairs using the MTF2, I would expect to have at least, as an absolute minimum, two good signals per day per pair. Assuming the trading/working day to be around eight hours. For higher timframes the frequency would be less. We do have plenty of traders who trade below the 15 minute time frame, which of course presents more signals. The appearance of any arrow on your screen is accompanied with an audio alert to grab your attention telling you that a trading opportunity may be imminent. A dialogue box also appears telling you which pair or pairs have generated those signals.
Q Trading the news
A I personally don't take a great deal of notice of the news announcements, as they tend to complicate matters for me and can lead to taking over what free time I have managed to set aside. What announcement is due? What pairs will it affect? When is it due? How will it affect the market? etc etc. This is fundamental trading and is not for me. I simply follow the signals. However, I am aware of what times the major news is due and take steps accordingly. This may be by not entering trades at a certain period before the announcement, tightening stops if already in a decent trade. Perhaps even closing a trade. I am not one for leaving the news channel running in my trading study. Again, this is my style. Yours may be to trade the news!
5. SUPPORT
Q Who are you? Where are you? More importantly - can I get hold of you when I have a problem?
A We used to be a team of three, now it's one. The others have left for pastures new. My name is Dave Atkinson and I trade full time mainly the forex market but increasingly trading the overnight DJI30 and the Nikkei of late. I live in Scarborough, North Yorkshire, on the east coast of England. Right next to the North Sea. Apparently, (and I refer to many e-mails I have received and also posts from the BD Forum), trying to get support after purchasing a system doesn't appear to be a high priority of most vendors. I too have experienced this problem. If you have a problem with the Black Dog Program your first port of call should be an immediate e-mail to me. I reply to ALL e-mails within a reasonable amount of time (think: sleep). Please bear in mind the time difference between our locations. Please also consider the following two questions as part of this answer.
Q Forum
A We now have a very active forum with membership growing daily. Most members are fairly new to trading forex but we are lucky in having some experienced traders and programmers on board who are more than happy to answer any of your questions. They are very helpful indeed. If you have a problem then the chances are that it has happened to someone else and has already been covered on the forum. The beauty here is that by posting on the forum you will receive a variety of answers from people who may have had the same problem and of how they rectified it.
The more successful Black Dog traders are those who frequent the forum regularly.
Q Skype
A This is the quickest method of sorting out your problems (if the solution is not found on the forum). I must reserve Skype only for members of the BD Program as it is very time consuming. It is always better to e-mail first to arrange a suitable time. You will require a headset with mic.
Q Which broker do you recommend for trading the systems?
A As the program uses Metatrader, you will need a broker that offers it as their trading platform. You DO NOT have to trade with that broker as you can take the signals generated by the systems and trade from another platform. But you will need to open a Demo account if you do this. There should be no cost implications. There are many brokers now which offer Metatrader so it would probably be better to do a search and make your choice. I hope to have a list of suitable brokers inside the members area in the near future.
Q Ok, after all that, do the systems actually work?
A First, this is an honest site, with honest traders, with honest values. We have nothing to hide.
Next, I must draw your attention to the testimonials. As mentioned earlier, they are from genuine e-mails that I have received since the Black Dogs became available. Most of the writers of those e-mails are regulars on the forum, you may meet them on there one day! I trade full time using the BD systems making my living. They work for me, and many many others.
If your questions are not answered here, please feel free to drop me a mail and I will get back to you asap.
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