Today I will be extensively reviewing the Black Dog Forex system.

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The Black Dog system is developed by David Atkinson, a man who proclaims to have been through the long and rugged road of Forex.
It's not cheap. It carries a $297 price tag.
So does it deliver? Please read on.

The initial impressions of the Black Dog System is somewhat amateur. The website for example, looks like a DIY job in a rush. It's somewhat unconvincing that with a presentation like this, one could charge such a premium rate for its products. Take for example, Forex Rebellion, its website is designed with the ultimate sales pitch. At first glance, it seems like the ultimate deal, I mean big bold fonts claiming '90% Winners - 36.37% in 5 days!' cannot possibly go wrong, right? And by the time you hit the bottom of the Forex Rebellion page, you've most likely  scrolled pass 27 pages of testimonials and feedbacks.
So you then go and find a bunch of other similar trading systems out of the web and behold, the package looks exactly the same. Similar styled webpages with big bold statements claiming monster returns, amazing demo videos, insane graphs and at least 27 pages of testimonials. These are what I call template systems. They're designed to give the most impact upon impression, increasing the likelihood of a sale.

I have tried a few template systems myself. Such as Forex Rebellion and The London Rush system. To be honest, I didn't like it. No support. No community. No discussions. No updates. No journals. Pay $97 and you're on your own buddy. It's pretty much 'thanks and seeya later, suckers'.

I first heard about The Black Dog system through word of mouth, and that was more than a year ago. It was never a hype.

The website itself appealed to me very differently. Yes, it's crap., but it not as salesy, it not as try-hard and it's not as loud.
The presentation and sales was from the word of mouth within the Forex community. Everyone who used it thought it was excellent. I couldn't find a bad review of it.
So regardless of the steep price and no-refund policy, I had to try it out.

So let's get right into it. Upon registering, you will be prompted with an extra menu to the right, containing all the meat and juice of the Black Dog. Finding your way around the place is real easy.

Now, the Black Dog proclaims to contain three individual trading systems (The Black Dog itself, MTF1, MTF2+). Now, let me clarify this...

While you are getting three individual systems, you are really going to just use one.

Let's try understand why there are three systems on the table.

David Atkinson originally designed the Black Dog System (BDS) a long time back.
Seeing how impressive it was, he kept on working on it. A while later, he released BDS version 2.0, a.k.a  MTF1. So MTF1 was the evolution and successor of The Black Dog System, and not long after that, MTF2 became the successor of MTF1. Now the latest is MTF3.

So in theory, these three systems are really just newer versions of each other. So, that being said, you're really just getting the Black Dog System in three different versions. Not too long back, David released the MTF3, which is the latest release of the system with a few minor additions.
The BDS community predominately uses MTF2 and MTF3. Most traders who are sharing journals and trading ideas will centre around these two, however it is quite important if you are new to the system to experience all the versions - as it builds up your familiarity with the principals of the BDS.

They are NOT three  trading systems to be use in conjunction with each other. It is not like a set of three different indicators to enhance your trading.

The Black Dog System is a very intricate trading system that pays attention to a lot of details, and David does an extremely good job in explaining every detail of his system. In his tutorials, he literally builds the system up from scratch in front of you, leaving no stones unflipped. And seriously, with so much material to learn, there was no way to soak it all up in one go. I printed out every instructional page, archived it properly in one nice folder and read it like a book whenever I had the time. Believe me, there was a lot of pages. What the initial sloppy website did not deliver, the quality and detail of its user manual did.

I had no problems setting up my Black Dog system on Metatrader 4, but what I found truly fantastic was the fact that David was always on Skype stand by to help members setup (to my knowledge he still does that).  He even uses screensharing tools to help you setup and answer your questions. To me, a good product is not a good product without the good service. This guy is literally in the chat rooms 24/7 to greet members, and no wonder why every open of the London session the chat rooms are packed with Black Dog members. David really does provide a sensational after-service support.

So how does this system perform? Quite amazing I must say.
What it basically does is it tries to identify a trend. When it does, you only trade in the direction of the trend. When the market is trending, the Black Dog will alert you when there is a possible big up-move or a down-move and with that information you STUDY the situation and determine whether or not to take the trade. If you familiarize yourself with all the rules, read all the content and study member journals on the forums, you'll do a good 20-40 pips a day, and 20-40 pips a day is amazing. I know there are heaps of other systems out there that says 5000 pips a month etc. It's total nonsense. Be realistic, and stick to a proper money management plan!

As said, the system seeks opportunities and indicates with a range of information shown on the screen. Typically, you must obey the arrows, and if everything else says go, you trade. There are also a bunch of new and growing collection of tactics that are shared and adopted by people to maximize opportunities and trades. These are heavily talked about on the forums. One thing I absolutely love about the BDS is you're not trading alone. You trade with others who are in a members only chat room. Nothing beats teamwork and shared knowledge

That being said, this system can be very, very accurate. I will not explain the technicalities of it all since that is clearly for the members.

Here you can see the black dog MF3 in action. This is a glimpse of the EURUSD daily (as of now), and as you can see, since April 2009 to Dec 2009, there has been this major up-trend. The Black Dog indicated that, and with all the little blue arrows pointing up, they were all BUY signals. If you had entered on all of them, you would have made an absolute killing - just on this one pair. You can see how easy it is, it doesn’t take a genius to figure it out.

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I know I showed a daily chart, that’s because I only trade the dailies. Time frame preference is TOTALLY up to you. Most of the members seem to be trading faster time frames such as the 15minutes. I know David himself prefers the 15minutes as well. It is totally up to you. However if you are new and wish to obtain the best opportunities, stick to the trading hours and charts David and other members have suggested on forums.

As with all trading systems, it comes with its own rules. You must obey them. David does an excellent job in compiling together a large set of rules for you to read. You must study them like the bible. This system is not an easy system. It has its own extensive entry techniques, as well as exit techniques. All of which gets covered in depth.

Another thing I love about this package is the community itself. The forums contain an absolute abundance of information. There are a lot of senior members that regularly contributes good material and feedback.
Starting up your own trading journal in the members section and getting mentored by the regulars that respond to your posts is one beautiful factor about this system. There are many different techniques to trade the Black Dog, all of which are extensively discussed inside the forums. You simply cannot go wrong.

The live chat is also another amazing addition. The beauty about live chat is that there are actually people inside! As the London session opens, it starts filling up with regulars. It’s a great place to authenticate and cross reference your trades with one another. The chat room is one of the most important a highly valued aspects of the Black Dog System.

One point is obvious but I must reiterate, David Atkinson only teaches you how to trade The Black Dog System. He doesn't teach you how to trade the FOREX. This is absolutely not the Holy Grail, but to trade the Black Dog System in its most sophisticated way, you must pay good attention to support and resistance, trend-lines and break-outs. With these fundamentals in harnessed, equipped with the Black Dog System, your trading arsenal really becomes unstoppable.

So WHAT is my verdict? Well, for $297 it is a big ask. However, it is definitely worth it. It is not a superficial prettied up system with dazzling sales pages. If that’s what you’re after, you’re better off buying something like Forex Rebellion. The Black Dog system is a wonderfully put together system that yields tremendous results. It excels immensely at after-sales support, community and live chat. The Black Dog system is not an easy system, it doesn’t BUY and SELL for you automatically, it requires you to put in the efforts to study it, and if you do (and stick to its rules), it’ll reward you well. If you’re looking for one solid system, then this may be it.

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Final Verdict:  Recommended

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