Black Diamond Trader – Brexit

Brexit has been making in the news more often now and it makes sense to look how the British Pound currency is reacting to all the news.

The GBP has been making lows not seen in decades and being placed in trades short against the pound would be a good play.  As Forex traders, it is far too easy to be involved in many pairings which rely on the strength/weakness of an individual currency.  This will skew your overall account risk if you are positioned in multiple parings that contain the GBP for example.

I wanted to see how Black Diamond Trader was working during this time and to see if any users of the system would be pulling in a fair amount of pips as the GBP free falls.  One thing to keep in mind is that BDT, according to the rules, will only have you participating in the markets when there is a strong trend taking place.

We have seen quite the price compression this year and while hindsight may show a trade worked wonderfully, the fact is you want to be involved when the odds are in your favor.

Check out the video below where I will go through various time frames with the GBPUSD and show where/when you would have been able to profit from some this currency pairing action.

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