Black Diamond Trader Real Trader Review

Why would a trader who trades price action and structure such as myself care about a trading system like Black Diamond Trader 2?

Because not everybody is built to learn how to trade with minimal indicators along with price leading the trading decisions.

Believe me……learning to understand the buy/sell imbalance and to take trades when the small edges show up is hard work.

Not only that, when you have discretion in your trading, it’s easy to see a trade setting up that if you were more objective, it’s a low probability trading play.

You can do it….it just takes time and effort.

Both things that most are not willing to put in.

It became obvious when I tried to show a close friend how I approach trading.

It was a train wreck.

You may relate to the path he was on.  The desire was there but desire is not enough when it comes to trading.  Frustration came into play quite a few times and changing his mindset from “there’s always a trade” to “not every price point has an edge”, was a battle.

He stepped aside before committing real money to his trading (that’s a success in itself!) and almost gave up on his desire.

 

Black Diamond Trader Enters The Picture

Months ago, after months of frustrating and slow crawl learning, he brought BDT2 to my attention.

First thing I want to say……

the Black Diamond Trader reviews you see on Youtube are absolute garbage. 

These people didn’t even download the system and are just spouting marketing crap.  One guy called the indicators “confirmers”…whatever the heck that is.

First things first…..let me show you that I actually have the system.

Forex Trading

This is just a random selection of currency pairs with the Black Diamond Trader template used on the Metatrader charting package and with the system indicators.

Remember though that not all Forex pairs are worth trading. 

Keep in mind the spread costs as well as the volatility each pair has.

The system also trades stocks and futures however I don’t use the Tradestation platform (another trading platform for Black Diamond indicators) so I can’t show you those.

Now that the formalities are out of the way, it’s time to to see what’s in it for you and if the sales hype meets reality.

 

Review Of Black Diamond Trader Sales Page

You want to know if some of what the Black Diamond website says is accurate.  Marketers are great at being FOS (full of sh**) so I’m going to answer some of what my buddy pointed out to me.

I will rank the accuracy of the statement (just my opinion of course) with a 0 for no, .5 for half truth and a 1 for a full truth.

1. It can work in Bull/Up Markets, Bear/Down Markets, Sideways Markets / Choppy Markets, Any Market.

BDT will still plot out the entries and exits for you regardless of the state of the market.  Will you want to place trades in every market condition?  Absolutely not and if you read my free trading course, you can probably determine when the trades have a higher probability of working out. [.5]

2. Black Diamond Trader 2 includes three powerful filters which help you validate whether a signal are to be acted upon or not.

Every signal is not an automatic “take action” signal.  The filters are important and can help keep you out of markets with weak trends and even have you exit/lighten a position when the direction of the market is a little unclear. [1]

3. Protect your profits and trading capital with trailing stops based on REAL support and resistance levels that are amazingly accurate.

Trailing stops are a great way to help profits run and using structure is a viable way of doing so.  I am not sure how the system determines non obvious levels but I think this is a wonderful and effective way to manage your trading risk. [1]

4. The Automator can automatically execute trades for you based on the Black Diamond Trader 2 indicators

I have not (and would not) use automation to place my trades.  While it probably can do what they say it can do, it’s not something I’ve tested.  Why?  If you go back to what I said before, just because a signal shows up and even if the filters all point to go, it doesn’t see what you can see. [.5]

5. Take high probability trades based on the powerful, yet extremely easy-to-use, detailed instructions that are included with Black Diamond Trader 2.

The instructions aren’t bad, a little slow, but cover enough to get you started.  [1]

6. Note that the BUY/SELL dots appear when the bar BEGINS, not when it closes, giving you the trade signal early instead of late!  Plus the indicators do NOT disappear or “Repaint” when you refresh your chart.

Black Diamond Trader is the only system I’ve seen that will signal a trade as a bar is forming.  For example, if the last bar closes and a trade is signaled, the entry tag will plot right as the other bar opens.  It indicates to place a limit order but that is not what I told my friend to do.  I want price moving in my direction….not away from it. [1]

There are words that emphasis aspects of the trading system but I would say that if you gloss over the “hype” words, it’s fairly accurate.

If you want to see some charts, you can scroll down but if you want to get started, I’ve put the order button below.

download black diamond trader

Day Trading And Swing Trading With Black Diamond Trader

The system is designed for both but as I mentioned to my friend, you really have to know yourself as a trader.

For example, I won’t day trade the Forex market and will only occasionally trade the Futures market intra-day.

Think about it this way……

Many people love the power that leverage can give a trader.  But most only think in terms of leveraging money.

Time can also be leveraged which is why I will swing trade more often than day trade.  Not only do I get the power of financial leverage but we can also get the leverage of time to allow even greater profits to be had…..usually with much less work.

Another thing you want to remember before we get to the charts is:

Every single trading system will have losses.

Sometimes many losses in a row.

One trade or 10 trades does not define the system.

It’s a random distribution of wins and losses but over time, the amount you win over the amount you lose is the determining factor.

AUDCADH4

EURGBPH4

EURJPYWeekly

GBPUSDDaily

USDCADH4

I focused on the risk part of Black Diamond Trader because risk management and waiting for the best conditions is what makes money in trading.

What doesn’t make money is taking a trade because a signal tells you to without confirming you are trading a market that is ripe for trading.

What did I not focus on?

I didn’t point out all the winning trades.  I didn’t point out all the losing trades.

Why?

Because trade entries are not the biggest part of a trading system. Losing trades are part of the game.

What is important is risk and Black Diamond does a good job of keeping you out of uncertain markets and the ability to trail your stops for bigger profits.

Besides…I already know where the winners and losers are and I certainly don’t want to cherry pick the trades.

 

Download Black Diamond For Yourself

The fact is that no matter what I tell you, the vast majority of you will quit on the system.

The majority won’t stick to any type of trading plan and will certainly not follow the rules.

It’s not a magic trading system.  No such trading system exists.  Instant success does not exist.

The best action is for you to download the system and give it a go.  Only you will know if the method suits you and your personality.

Finally…..I don’t trade “systems” but if I did, I would certainly put time and effort into learning Black Diamond Trader (2) and find ways to make it my own.

I think it has exceptional promise in the right hands.

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