Black Diamond Trader Forex Walkthrough
Since I put up my real review of the Black Diamond Trader, I’ve been getting quite a few questions about the system especially how it handles Forex pairs.
Let me say that a trading system should not handle markets any differently because once you have to start tweaking, you run into over optimizing a system.
When that happens, the system becomes more of a gamble than anything else.
Black Diamond Indicator Change
There are some changes you can make with the indicators but I have always felt it best to just leave the defaults and understand market structure. The main change is with the trend strength because too high of a setting will keep you out of trades while too low, will get you trading in chop.
Forex Pairs On Longer Time Frames
I covered a few currency pairs and used longer time frames because, frankly, day trading Forex even with BDT is not something I am interested in doing. Besides, the longer a trade runs in profit, the more profit, in theory, you should be able to pull out of the markets.
The markets have been in a lot of tight and choppy trading states and that covers virtually every trading product. Often times its the one or two trades a year that run that helps make you the profit.
In the video below, I will also cover some basic structure of the market that can help keep you from getting chopped around. Saying that, Black Diamond does a decent job of alerting you to markets that don’t have a lot of momentum going for them.