Richard Hill Forex Net Trap

[pboyles]

I've played around with the IG Advance charts and came up with this. Anyone with more knowledge and experience of the C-Pivot care to comment? I am not sure about the interpretation.

The blues are the R1,R2 and R3, the magenta is the Pivot and the reds are S1, S2 and S3. The dotted is the usual MA. Also the lines are calc'd on the bid price - as the chart has built in functions for the daily close, high and low, I suspect that its based on the mid price

If you are going to use pivots I suggest you plot the weekly pivots, not the daily pivots. You calculate these by using the open, high, low and close of the previous week instead of the previous day.

Having said that I see 2 trades on the chart you posted, see attached, the second one is doing very well as we speak

 

[MikesDirect]

Hi Mikers,

Thanks for the post personally I find support and resistance levels invaluble, can you tell me where you get your calculations for the Camarilla Equations.

Thanks

G’day Sir

There are a lot of sites “claiming” to offer free, genuine, Camarilla (Cams) pivot points so beware; the site (below) is one I trust. Just take the High, Low and Close price from the previous day’s chart and enter them into the calculator. NB: Ideally, you would take the readings just before midnight of the previous day but I find as long as you leave it until after 10.00pm (and no earlier), then you will get accurate readings.

The Cam Pivot Point Calculator will actually provide you with 4 Resistance levels and 4 Support levels. This is probably too much information and so I only plot the 3rd and 4th Support/Resistance levels on my chart (so only 4 lines of info rather than 8). The site I use is:

http://www.earnforex.com/pivot-points-calculator

Kind regards Steve, and good day Sir.

Mike

 

[peterf1966]

I've played around with the IG Advance charts and came up with this. Anyone with more knowledge and experience of the C-Pivot care to comment? I am not sure about the interpretation.

The blues are the R1,R2 and R3, the magenta is the Pivot and the reds are S1, S2 and S3. The dotted is the usual MA. Also the lines are calc'd on the bid price - as the chart has built in functions for the daily close, high and low, I suspect that its based on the mid price

Those S and R values are not too far off the ones I got from the Camillari calculator kindly posted by Tenapenny.

Using that, and seeing we'd gone below S3, way below, I could see a bottoming, and went back in at just 50p a pip to test if the market would come back to S1, or S2, this possibly now becoming a new resistance level. Anyway entered at 14885 on the way back up, and set for just below S1 at 14915, so a nice 30 pips there, although at 50p its only £15. still that has added to my £8 this morning, for a reasonable gain given my £1/pip limit. And just looking, I could have held for more, but that'll do.

So thanks to Mike and Tenapenny for these fantastic tips, and I for one will remain keenly watching this thread, for it's diverse inputs. I think whatever pivot calculator method you want to use, it should demonstrate the nearby supports and resistances, to further verify the NT rule.

NT+D, see?

I feel I've learned a lot this morning. To my day job's detriment mind, but thanks again!

 

[MikesDirect]

Thanks for the welcome, and yes, the letters do look strange but I do get their significance. It can be set up on IG Advanced charts to show the trend. Its easy to look at an array of 10 letters instead of candles and to find 3 Ds for down (a short) in a sequence of DDFFFDFFUF and to be able to check that there are not 2 Us (for up). Its easier than peering at MA values on tiny charts.

I am not even going to try this till in France when up at 7.15 so my brain should have cleared.

In any case the software developers are in control of my IG platform at the moment. It was blank the last time I saw it.

Cheers and G'day Sirs (in honour of Mike)
Taypot


NT LURKERS.....come out of the woodwork!!!! Your contributions needed!!!! We are being abandonned!!!!

I feel truly humbled and honoured Taypot.
Good day Sir.
Mike

 

[Trader333]

Hi Paul,

how and where can I get this spreadsheet/tool? did you create it ?

cheers

I use Radarscreen which is part of the Tradestation package although I coded the pivots myself with the help of a couple of others from T2W such as Rathcoole_Exile and Blueray.


Paul

 

[MikesDirect]

cheers for the support Mike

You are most welcome piphead.
Good day Sir,
Mike

 

[MikesDirect]

I followed Mikes Advice, and bailed out a bit before 8am for +8, and it seems a good choice this morning. I didn't set up the FTSE chart though, all that is a bit advanced for me yet, but I will look into that.

Looks like the city types just dumped everything they'd bought in this last week, as we are back where we were on Monday, the buggers!

Good day Sir,

Please don't be worried about opening the FTSE chart; there is nothing complicated or advanced to consider - just another chart to look at on the stroke of 8.00am. You will in fact notice that the GBP/USD and the FTSE usually "mirror" each other quite closely (today being a classic example). It all depends on the 8.00am FTSE "kick off!"

Another point to consider is that it will often "whipsaw" at 8.00am before deciding which direction to take. It's simply another tool (and a very good one in conjunction with Cam Levels) which can help assist you in deciding whether to get out or stay in the NT trade.

Kind regards Peter and Good day Sir,

Mike

 

[stevepatt]

Thanks TAP

Just input Thursdays HCL in to the table here. 15011.2, 14914.8, 14925.5 (IG bid), and it calculates these:-

R3 = 14952.01
R2 = 14943.17
R1 = 14934.37
Pivot = 14950.5
S1 = 14916.66
S2 = 14907.83
S3 = 14898.99

Today's opening level on NT was 14960, so if I am doing this correctly, we were already
too high for a long trade? Do I have this correct?

If I am correct on this, would today have been a short trade, once the Pivot level was passed, say at 14946, and with a target of S1 being conservative = 30 pips, or a more ambitious one at S3 for +50 odd pips.?

The market level hit 14916 at about 8.22, and has gone way past S3 now.

Hi Peter,

The way I interpreted it this morning was the price went through R3 and tested R4 before reversing on the 8.00 candle back through R3, enter short after the price has retraced 5 pips from R3 at 14947, which would have been on the 8.15 candle, and then, as you say, either target S1 or S3 depending on your confidence in what the market is doing.

If NT had been a sell signal today I would have gone with it but because it was a buy signal I didn't enter, just wish I had known this yesterday because again I wouldn't have entered the trade.

 

[mark120169]

G’day Sir

There are a lot of sites “claiming” to offer free, genuine, Camarilla (Cams) pivot points so beware; the site (below) is one I trust. Just take the High, Low and Close price from the previous day’s chart and enter them into the calculator. NB: Ideally, you would take the readings just before midnight of the previous day but I find as long as you leave it until after 10.00pm (and no earlier), then you will get accurate readings.

The Cam Pivot Point Calculator will actually provide you with 4 Resistance levels and 4 Support levels. This is probably too much information and so I only plot the 3rd and 4th Support/Resistance levels on my chart (so only 4 lines of info rather than 8). The site I use is:

http://www.earnforex.com/pivot-points-calculator

Kind regards Steve, and good day Sir.

Mike

Hi Mike. This is way beyond me but I am understanding the calc link you posted. So if I got this right cable data on bid price for yesterday was

High 15011.2 Low 14914.8 and close price (11.45-12am candle) was 14925.5 ?

so Cam results are resistance R3 @ 14952.01 and R4 @ 14978.52. Cable has passed CAM S1 & S2 resistance by the time be do NT setup @ 6.15am. NT set and entered us into the market @ 14960 targeting +50pips. According to CAM should have been say 15 pips target at most to be safeish.

Also interesting my MINT order went to market at 6.30 @ 14954.2 , about 2 pips over R3 level and banked for +10 pips, the target 14964.2 was well below the R4 level and entered the market above the R3 level.

Also market high was @ 14973.3 faiirly close to the 14978.52 predicted.

Have I got these facts right ref the CAM settings. This could be a really good tool for deciding to stay out of the Market on NT weak signal days (especially when close to major limits such as $1.50 etc.

It will also be very interesting to use and monitor about wether to decide to go with MNT, INT or MINT as a secondary or only order.

Thanks, I am humbled too for this, will monitor daily now from midnight Sunday to use on next weeks trades. I think NT will have big troubles until $1.50 is successfully breach to $1.51 , $1.52 .

M

 

[Taypot]

I feel truly humbled and honoured Taypot.
Good day Sir.
Mike

You deserve the honour for your helpfulness! Your recent pivot point calculator link is interesting too. There is so much good info on this board that I am trying to do all I can to get you all to stay here and keep chatting so I can lurk and go quiet again. Shame to lose you all.

Cheers and G'day Sirs and Chapesses (still in honour of Mike...BTW I'm female, hello other chapesses)

Taypot


NT LURKERS.....come out of the woodwork!!!! Your contributions needed!!!! We are being abandonned!!!!

 

[MikesDirect]

MikesDirect

Hi Mike, have sent you a PM, last week, may be you didn't get it? check your messages. Would love to share some views on your forex experience. Thanks.

eddy

G'day Sir,

Apologies for the delay, have answered your PM.

Kind regards Eddy and Good day Sir,
Mike

 

[mark120169]

You deserve the honour for your helpfulness! Your recent pivot point calculator link is interesting too. There is so much good info on this board that I am trying to do all I can to get you all to stay here and keep chatting so I can lurk and go quiet again. Shame to lose you all.

Cheers and G'day Sirs and Chapesses (still in honour of Mike...BTW I'm female, hello other chapesses)

Taypot


NT LURKERS.....come out of the woodwork!!!! Your contributions needed!!!! We are being abandonned!!!!

I am sure we will pop back to post during the day, it's just that us official guys have a fair bit of data and personal tools to share etc which would completely give up NT 110% for free if we just shoved it on here.

We also want to post much more revealing stuff during live trades etc and obviously discuss trade / notrade days when it is disputed and it's really hard to do in code on here.

My advice is to read back this forum in full run with what you think NT is and if you can make the £250 to buy NT get it if RH issues it again (which he will no doubt). It comes with a 60 day money back gaurentee so if you really think it's not worth it once you get it you can always return it.

But it will give you the "key" to the new forum if you want to join the club. You have to respect the fact that their are stocks and shares guys like me on here having invested £250 in a system book when it really was unsure if it was for real and worked and we took a chance to part with our hard earned cash.

You also have to respect that as well as investing the system price we are live trialing and baring results for futre potential trappers with no risk to your capital. And as since my first trading day mid may vanilla NT is running at a loss now, but this small community is tweaking and logging data to find ways to imporove the wins on a good simple system. And that did and does not come free for us, it is not "free" for me to live trial TNT & MNT for everyone "IF" it ends up as a bad run as it's me that makes the loss and depletes my bank.

But it cost's lurkers nothing to see if what we are doing works. Hence we want a private forum.

M

 

[sarnia cherie]

You deserve the honour for your helpfulness! Your recent pivot point calculator link is interesting too. There is so much good info on this board that I am trying to do all I can to get you all to stay here and keep chatting so I can lurk and go quiet again. Shame to lose you all.

Cheers and G'day Sirs and Chapesses (still in honour of Mike...BTW I'm female, hello other chapesses)

Taypot


NT LURKERS.....come out of the woodwork!!!! Your contributions needed!!!! We are being abandonned!!!!

Another chapess..how wonderful. Dont seem to be many on these boards.although the chaps on here seem very pleasant so Im sure I'll be safe in the NT 'cupboard' with them.

 

[MikesDirect]

You deserve the honour for your helpfulness! Your recent pivot point calculator link is interesting too. There is so much good info on this board that I am trying to do all I can to get you all to stay here and keep chatting so I can lurk and go quiet again. Shame to lose you all.

Cheers and G'day Sirs and Chapesses (still in honour of Mike...BTW I'm female, hello other chapesses)

Taypot


NT LURKERS.....come out of the woodwork!!!! Your contributions needed!!!! We are being abandonned!!!!

Good day to the Lady!

Humble apologies for assuming that we are all "Sirs" on here (now why is that!?)! In future, I will adjust my opening salutation accordingly. I'm "sure" some of the Private Forum guys will not abandon us completely. After all, RH's Vanilla NT (designed to be a "set & forget" system - until 8.30am), has appeared to become/is becoming anything but Vanilla NT!

As I've previously stated, in my humble, personal opinion, and no offence intended to anyone, least of all RH, Vanilla NT will "go as quickly as it came". The system's aim/claim of +50 pips is "somewhat unrealistic" over the given timescale. It's a good thing (big sigh of relief, particularly for the Rookies), that some of the guys are "developing" more realistic and hopefully more profitable approaches.

Kind regards, and Good Day to "The Lady!"

Mike

 

[stevepatt]

G’day Sir

There are a lot of sites “claiming” to offer free, genuine, Camarilla (Cams) pivot points so beware; the site (below) is one I trust. Just take the High, Low and Close price from the previous day’s chart and enter them into the calculator. NB: Ideally, you would take the readings just before midnight of the previous day but I find as long as you leave it until after 10.00pm (and no earlier), then you will get accurate readings.

The Cam Pivot Point Calculator will actually provide you with 4 Resistance levels and 4 Support levels. This is probably too much information and so I only plot the 3rd and 4th Support/Resistance levels on my chart (so only 4 lines of info rather than 8). The site I use is:

http://www.earnforex.com/pivot-points-calculator


Kind regards Steve, and good day Sir.

Mike

Hi Mike,

Thanks for the reply, I got a different site but they use the same calculations.

Cheers

Steve

 

[MikesDirect]

Hi Mike. This is way beyond me but I am understanding the calc link you posted. So if I got this right cable data on bid price for yesterday was

High 15011.2 Low 14914.8 and close price (11.45-12am candle) was 14925.5 ?

so Cam results are resistance R3 @ 14952.01 and R4 @ 14978.52. Cable has passed CAM S1 & S2 resistance by the time be do NT setup @ 6.15am. NT set and entered us into the market @ 14960 targeting +50pips. According to CAM should have been say 15 pips target at most to be safeish.

Also interesting my MINT order went to market at 6.30 @ 14954.2 , about 2 pips over R3 level and banked for +10 pips, the target 14964.2 was well below the R4 level and entered the market above the R3 level.

Also market high was @ 14973.3 faiirly close to the 14978.52 predicted.

Have I got these facts right ref the CAM settings. This could be a really good tool for deciding to stay out of the Market on NT weak signal days (especially when close to major limits such as $1.50 etc.

It will also be very interesting to use and monitor about wether to decide to go with MNT, INT or MINT as a secondary or only order.

Thanks, I am humbled too for this, will monitor daily now from midnight Sunday to use on next weeks trades. I think NT will have big troubles until $1.50 is successfully breach to $1.51 , $1.52 .

M

Good Day Sir,

I'll have to get back to you on the above. I do all my Cam calculations on an MT4 Platform which is mysteriously down at the moment (I use IG to place actual trades). Plus, I have to go out shortly (apologies for calling you "shortly")!

Kind regards Mark, and good day Sir.

Mike

 

[Taypot]

Another chapess..how wonderful. Dont seem to be many on these boards.although the chaps on here seem very pleasant so Im sure I'll be safe in the NT 'cupboard' with them.

Hey Sarnie,
Now i'm jealous. Not only do I not have Net Trap (officially) which is bad enough but you have the chaps in the cupboard too! Some ladies have all the luck! (I'm hoping to keep the tall dark and handsome LURKER ones.

Anyway, once I have developed my 'Net Trap trading day text alarm system', they will all want to come out and play. I'll publish it on a private forum here that folk can only enter if they can prove they haven't bought Net Trap. Ok, I'm joking!


G'day Sirs and Sarnie in the cupboard,

Cheers taypot

BTW Once IG have mended my platform I will be quiet and off trading and leave you in peace. I think software is being rewritten, trust me to break it.

 

[FXHEATH]

Another chapess..how wonderful. Dont seem to be many on these boards.although the chaps on here seem very pleasant so Im sure I'll be safe in the NT 'cupboard' with them.

Hello Sarnia/Taypot & Everyone,

I'd like to introduce myself as yet another chapess who will be joining you in the new NT 'cupboard'. I've only just become a member this week but have been following this thread since I purchased NT on the 7 June. I started trading on Tuesday the 8th so I'm a novice I'm afraid with not a lot, as yet, to contribute.

However, I'd like to thank you all for such rivetting early morning entertainment of the like never experienced before, I've found your discussions invaluable so far!!! Some of the ones in the last few days though are well above my head but, hopefully, one day I'll get it. :smart:

FXHEATH

 

[pseudo straddle]

Hello Sarnia/Taypot & Everyone,

I've found your discussions invaluable so far!!! Some of the ones in the last few days though are well above my head but, hopefully, one day I'll get it. :smart:

FXHEATH

Well FXHEATH, here's a post from TN7, just to get your noobie teeth into - and when you've got the hang of that, we'll go on to the difficult stuff!

Interesting stuff for Newbies

 

[Tanguero]

Having thought about the "follow the FTSE open" idea, I now doubt that there is much merit in it:

1. It would be a tail wagging the dog given that the cable market is much larger.

2. At 8am there is no new fundamental information that would not have been discounted in the pre-open pricing of FTSE. Given the correlation between the two markets, the pre-8am cable should have this data discounted already, and both IG charts would reflect this.

3. The only balance that is left is the sentiment of the on-floor traders, which is most likely to be wiped off by 8:30am anyway, as it whipsawed this morning.

So the only possible way to use this approach as I can see it is to take a note whether the cable gets carried away with the floor traders' sentiment. So far I have not seen much excitement in the cable at 8am on any day I followed it to suspect that there might be such effect, and I don't think this idea merits changing the NT rules.