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Wednesday, 17 July 2013 14:09

Forex Black Book Commentary

I have been using the Forex Black Book for about 2 months now and I have found that this is a very pragmatic approach to trading currencies. I have gained the most from the daily trade room which is an entire 90 minutes of instruction and commentary by Ross Mullins. I have paid for my subscription by following the prompts. Not all trades are winners and you still have to exercise caution and proper planning, trade size, risk/reward ratios, etc. This is NOT easy money but IT IS one of the best services that I have found. The educational part is 2nd to none and the Black Book is a great guide for finding trends, proper placement of stops, and profit targets when trading Forex.

I first had the opportunity to try a free version of the Forex Black Book after watching loosing and winning trades on Dustin's presentation video. His technical and honest approach toward this system did get my attention.
Additionally it just so happened that all the JPY pairs at that time of me (sceptically) watching the the Performance of the Forex Book, gave a green arrow in the direction of the Green/momentum bar at the bottom of the system. All these pairs gave large rewards in pips and some are still currently in the mode of reaching some of the pre-determined targets.
When the system became available to the subscribers I purchased my copy. Unfortunately for my budget I could now only afford a small trading account, but I guess this forced me to be even more disciplined and selective, as to which trade to choose, which had the probability of the highest reward and least risk.
Being a medium to long term swing type of strategy, some trades identified can carry rather large stops, so as with all forex trading, discipline to minimise your risk and maximise your chances of reward are important and in the end ones own decision, which trade to take and when.
All that said I am very satisfied with the Forex Black - I took 17 trades (adding my own criteria of risk due to my small account size) - I had four losses. Since today 18 trades and four losses, however on a 500 GBP account I traded my account to 730.73 GBP with a loss of 66.54 GBP and this starting 21st January 2013.
Dustin has another huge benefit he adds to his system - a very hands on informative live trade room/analysis run by Ross Mullins.
Ross is an absolute star - he brings home the way the Forex Book works and with his in depth knowledge of technical trading he combines the technical aspects of trading with the Forex Black Book. This in my opinion (and proof in GBP) forms a very powerful combination.
Now it is really only up to oneself to assess the risk, listen to the guidelines (a combination to Dustin's guidelines and Ross's interpretations/guidelines) and place trades, which will fit into ones own risk assessment.
I have yet to trade a better system showing consistent profits (systems of which I tried so many over many years of trying to master the markets in some way).
I have to thank Dustin and also Ross for providing a system and professional back-up, which eventually got me to see the light.
Next step is to strive for a better funded account, so I can be part of and maximise my results with this profitable opportunity.

Having purchased Forex Black Book and the Elemental Trader I am wholly satisfied with what we have here. I have a complete trading arsenal that caters for reversals and for trading with the trend. Using the 2 together with multiple time frame analysis, ie looking at the weekly to get an idea of any major support and resistance levels (after all what could seem like a good entry on the 4 hr may end up reversing because of a key level of support or resistance on the higher time frame). Weighing this up with the potential targets at P1, P2, P3 and finally P4 gives me a much better idea when to take my final profits off the table. It is possible that a break of the key technical levels on the higher time frame (of which this indicator does not apply, because its for use on the 4hr timeframe) and the trend continuing further, however I for one would rather have my profits in the bank and be able to trade the next opportunity.

As for the customer service that I have received upon, purchase and most definitely the after care, I rate 100%. I am grateful to the team and Dustin personally for developing such a product and backing up what he says.
I have suffered some drawdown and had a coupe of trades that I was stopped out of for a small loss, no more than about 4% off 3 trades. But this is part of trading and drawdowns will happen. My profits from using this strategy are however greater than these drawdowns so my account is slowly increasing. I have only been running is since the demo was first launched and I was up 42% in that month alone. I think February so far has been a transitional month on a lot of pairs but this is where the elemental trader comes into play really nicely.

I for one Dustin would one day like to meet and thank you in person for developing the software, providing the customer service including the after care that has transformed my forex trading. I now have a trade plan that is easy to follow, stick to and execute, and it also makes money.

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