Richard Hill Forex Net Trap

Melb said:
Well, my interpretation of the rules seems to align with RH's emails regarding days of no trade... Today, my interpretation suggests that although the ma has fallen inline with the rules - one of the rules for a 'no trade' has been ignored if you decide to enter... I guess we shall have to await the RH email for definitive proof... For those that have decided to enter this morning - best of luck...
Click to expand...

Well given Richard made Wed 16th June a sell, I can't see why today is any different. Rather than use IG index to look at my charts I use other platforms that already round to 4 decimal places.....
 
piphead said:
I agree with you but the fact that people are starting to change parts of the system is a sign that they are evolving into self thinking traders and coming up with your own system is always a good sign. (y)
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I agree , how many times did RH tweak or change his system before he decided to sell it.

As a complete novice to this wonderful world of trading the £/$ , NT opended up
a new world for me .

As to the risk and reward argument in my opinion if you are sitting on a positive points position at the end of every month and you can see a real % gain then i am am happy, and as to some people saying if you only made 426points at the end of the year would you buy this system , er sorry yes i would . :LOL:

Mark has his way of trading that suits him and is comfortable with the risks he takes, me i protect my bank at all times , RH also always reminds us about the importance of money management .

Just my thoughts .
K:)
 
Just noticed something interesting. Check out the Daily chart under NT MA, has just turned in positive territory today after a long drop, so looks like sterling has reached a tempory bottom.

So it should rise for a while now daily before either dropping again or going up up up.

M
 
-33 today. I blame Mark for those extra 3 pips:p

For some reason I looked at the ETX chart this morning, which rounds for you, so the XXXX dropped then flattened. On IG it shows to decimal places, and so you have to round yourself, and yesterday I looked at IG chart, couldn't be bothered rounding and stayed out.

Lesson learned.New Rule for me.

If you have to resort to rounding to make a descision on a trade, DON'T!
 
For all those who made a trade this morning are you newbies or long-timers? I'm wondering if you're looking to make a trade to justify getting up at 6.20 as much as anything.
 
kpk said:
I agree , how many times did RH tweak or change his system before he decided to sell it.

K:)
Click to expand...

An interesting observation. Possibly supported by the June09, July09 and August09 results being far superior to the Sept09, October09 and November09 which according to the sales letter was when the Beta testing started. The last four quarter results from last June has been roughly -

+965
+397
+108
+345?

:confused:
 
BigDunc said:
For all those who made a trade this morning are you newbies or long-timers? I'm wondering if you're looking to make a trade to justify getting up at 6.20 as much as anything.
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I started on 1st March. My descision to enter, and at what direction and entry level is based solely on NT rules (the NT variants all follow the rules apart from INT).
Yesterday I interpreted those rules and stayed out, and was quite happy to go back to sleep, so for me, no, I don't trade just to justify the early get up.

A few months back, a move to Abu Dhabi was in the offing - 3 or 4 hours ahead of us, trading at 9 or 10-30 reallly appeals, but it's all gone quiet again now.:(
 
Morning folks,
didn't trade NT today, in my world I grade the NT signals ,weak ,fair and strong ,and for me the NT signal didn't even make it to weak.I'm of the opinion that the signal has to be viewed 'in context' and this mornings context at desicion time was range bound and a flattening MA. On these occaisions ,and as mentioned in previous posts , I opt for a modification of a daily H&L strategy placed just outside previous
support and resistance ,this often makes a few pips on NT no trade days and today was no exception . Some of you would call this a straddle and ,to my simple mind , provided your careful in the way you set it up and are happy with a target of just 20-25 pips its not a bad option for days like this. :cool:
 
Hogs said:
20% is still 20% of your account. Whether its 20% of a £1500 pound account or 20% of a £70,000 pound account. Surely you need to treat every penny of your account as precious capital regardless of the size? I don't understand how you can state you can lose 100% of your trading bank.

For some people reading this thread £1500 may be a "life changing sum to lose". I value every penny me.

And, the flip side is that some of us are trading heavy and greater than £10 a pip - seeing as you brought it up. The idea of testing an idea and whimsically accepting a 20% drawdown is nonsense. Saying that you "can afford to lose the whole £1500" is completely gun slinger in my opinion.

You mention a draw down month above as if it should be a surprise to anyone who trades. Drawdowns are a fact of life. Period. Drawdown months, or even a couple of back to back drawdown months, are almost guaranteed in this game.

And you are absolutely correct: "back testing can't predict the future". But it can give you a reasonable indication of the risk distribution and expectancy of the methodhttp://www.iitm.com/sm-Expectancy.htm.

Bottom line, I'd not put a single penny of my hard earned cash into a method with a negative risk to reward and back (or forward) tested over a couple of months. But you are right, as you said in an earlier post: "It's all about freedom of choice"

By the way: "£247 for a system that has only banked 426 pips" is a no brainer to me...
Click to expand...

At last, someone talking sense. Back testing to determine your risk and money management, and risk/reward. All key things to be able to stay in the game to withstand the inevitable drawdown periods that will occur. Remember those five -30's in a row that someone encountered in their testing. It will happen again at some point.

I also agree completely that even if your account is small, that you must trade it in the same way as if it was a large account. To be able to dismiss a 20% loss because it is only £300 is ridiculous. I agree with the "gunslinger" comment.
 
BigDunc said:
For all those who made a trade this morning are you newbies or long-timers? I'm wondering if you're looking to make a trade to justify getting up at 6.20 as much as anything.
Click to expand...

To be honest I knew it was a no trade day but yes after getting up at 6.20 I like to trade
no matter what.

I sold this morning but then luckily for me bottled it and closed the position for
1pip profit straight away.
 
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