Forex Black Book Download, Dustin Pass Review.
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Forex BlackBook Gives You very clear Buy, Sell, Hold, or No Trade advice for the next day’s trading.
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Dustin Pass is releasing The Forex Black Book will be available for consumer use. This proprietary software has been used by Dustin Pass for a many years. He’s finally decided to bring it to the people. We’ve known Dustin Pass for over 5 years and this trading product is shaping up to be a real good one. We’ve Beta tested for several products in the past, but this one just made a lot of sense. We know the majority of information on this site is about Binary options, but this is a great complement to Binary Trading. It allows you to day trade the binaries and look more long term on the Forex market. By going through this Forex Black Book Review you will learn about what it is, how it works, and how you can take advantage of it.
What is the Forex Black Book?
It is important to understand what this software is all about. In essence, it is a Metatrader 4.0 (MT4) indicator that uses a proprietary trading strategy developed by Dustin and his crew. It uses moving averages that aren’t on the charts themselves, but embedded into the trading indicator code. Although it is very comprehensive and intricate, the user side of the program is very easy to follow. We will discuss some of the trades we witnessed while using the product. You may think, wait, another indicator, but once you see proof it works then you’ll understand.
During the beta testing phase, we were given a trimmed down version of what you as a trader/consumer will get when you buy it. This will make a huge difference when it comes to entering trades. Below is a screenshot of what you will see on your MT4 chart when you have it running live.
As long as you are alerted to this trade you would be up a lot of pips.
The strategy and finer details are built into the indicator so you won’t see the squiggly lines all over the place. All you have to follow is price action. Some of the main features on the chart include:
MT4 Trading Template – Clean, simple and easy to setup
Trend Indicator – This tells you the current trend
Target Levels – These are the target levels when it comes to collecting profits
Up Arrows – Tells you when you should be buying
Down Arrows – Tells you when you should be selling.
Four Hour Charts – The time frame this runs on is a 4 hour chart – Critical piece
Obviously you will want to learn what is happening in the background and that will be taught to you by Dustin’s group. For now just focus on the arrows in the chart. An important aspect of trading the Forex Black Book is the time frame you use. In the beta model you had to set the chart to four hours. The live copy will automatically post a 4 hour chart for you. One of the many things we didn’t get testing the software.
We were asked by Forex Trader’s Daily not to show you some of the finer details of the software. Remember, we were using a beta copy, so we didn’t have a lot of the cool features that live end users will get.
Some Forex Black Book Results
Again, without going into great detail here, we’ve seen some phenomenal results. We received the software in December, but we weren’t too keen on trading Forex, Binary Options or any other market for that matter during this time. We will show you a trade that was setup in December and a couple that occurred in the month of January. Remember this is not a scalpers paradise. This is for the longer term traders seeking out the big moves. It’s all about peeling your trades as they go green. Take profits when in profit and look for the big continuation pattern. There were plenty of trade setups across the board, but we were only looking for the best. Some of the currency pairs we were watching included: EURNZD, EURJPY, USDCHF, GBPJPY, EURCAD, and the CADJPY. Which currency pair will be up to you, but these are the ones we liked watching with the Blackbook.
Here are a Few Forex Black Book Trading Examples
This first trade occurred in early December. Several things were working here. We saw a nice four days of consolidation near a support level after a serious move down. Once the arrow popped on the screen a trade could be placed. Notice the trend which is the green banner at the bottom, was also in the right direction.
The second trade we want to show you occurred in January. We are looking at the USDCHF on this trade. Notice how the trend was Red in the indicator at the bottom. You can see a bunch of green arrows, but we were only looking for Red arrows. You want the two to synchronize. Finally a trade alerted us to the short side. You can see two opportunities setup within a few days. As we write this review, price is still moving in the right direction. Had you pulled some off the table you could watch the rest run. Again, you are looking for deep moves and need to be patient.
This shows a clear move to the short side once the arrow appeared.
The third trade happened this week as well. Notice the solid green trend indicator telling us to only look to the north side. On January 9th we were alerted to take a long trade. Since then, the trade is up over 400 pips in just a couple of days. Obviously the move was super strong, but it allowed us to get in it. You may want to buy the software right now.
This is what your Trade Station will look like when you have winning trades with Forex BlackBook
Of course we had a high flying market the past few days, but being alerted to get in before it happens was perfect.
- What are the Yellow Arrows? – The Yellow arrows are caution trade options. Meaning you can take a trade, but use caution. Trade smaller amounts.
- What if Red Arrow appears on a Green Trend? – Although the short term is showing a put or short trade, you must stick with the current FTD trend.
- Is there an alert software within the system? – Yes, although we didn’t have access to the Trade Finder Software during the beta phase, there will be one with the BlackBook package. Keep an eye out during the webinars. SMS, email and Desktop alerts.
- How do you know when to exit in profit? – This will be up to you as a trader and your risk level. As you can see in the charts above there are U1, U2, U3, D1, D2, and D3. These are the targets you are going after.
- Where do you place a stop loss? – Usually you would want it just below the nearest support level for a long trade and just above the resistance level for a short trade. Make this level an area where it would have a chance to bounce/reverse and keep you in the money.
- Is money management calculated in the trades? – This isn’t calculated, but could be taught in the trading room sessions. This is definitely something you want to consider.
We’ve only had access to the Forex Black Book software for a short period of time. We are extremely excited to be part of this software launch. It’s been fun testing it and we are happy to bring this honest review to you. It makes trading long term a lot easier and gives you access to the big moves you never knew you could find. With the simplicity of the product, there will be a lot of happy people soon after the sales date. To learn more information about this product you can click here.
Forex Black Book, Forex Explained by the Black Book.
Forex Black Book Free Download. Black Book Review. Forex Black Book Software
Forex trading is always done in pairs, since any trade involves the simultaneous buying of a currency and selling of another currency. The trading revolves around
18 main currency pairs. These pairs are:
USD/CAD EUR/JPY EUR/USD EUR/CHF USD/CHF EUR/GBP GBP/USD AUD/CAD NZD/USD GBP/CHF AUD/USD GBP/JPY USD/JPY CHF/JPY
EUR/CAD AUD/JPY EUR/AUD AUD/NZD
When buying or selling a currency pair, each pair has its own Bid/Ask rate, for example:
Pair EUR/USD Bid 1.5420 Ask 1.5422
This means you could either: Buy the pair at the Ask rate or Sell the pair at the Bid rate Which means: Buy 1EUR / Sell $1.5422 Sell 1 EUR / Buy $1.5420
OK, but where’s the opportunity for profit?
The currency pair rates are volatile and constantly changing.
One way to profit is by buying a pair, then selling it at a higher rate. The second way is by selling the pair, then buying it at a lower rate.
