Richard Hill Forex Net Trap

[Tanguero]

150pip leg up. This is what was in the air this morning. Alas the amateurs are right at the wrong time.

To follow a system or not to follow is a personal choice and if done for right reasons it can't be wrong. By nature, we are either rational (tending to follow rules) or irrational. One have to understand his/her own nature and build on it rather than loosing when sticking to the system only to miss out when not following it.

 

[Claviceps]

150pip leg up. This is what was in the air this morning. Alas the amateurs are right at the wrong time.

To follow a system or not to follow is a personal choice and if done for right reasons it can't be wrong. By nature, we are either rational (tending to follow rules) or irrational. One have to understand his/her own nature and build on it rather than loosing when sticking to the system only to miss out when not following it.

Dead right , it kicked off immeadiatly after the candle that brought NT its fifty , must
not complain though , had a good load of pips out of this move so far , and its not quite over yet.

 

[gav2e]

Aargh!! Pulled out at +20 cos couldnt face any more losses. I did however make +20 on EUR/USD too so not so bad. Must stick to the rules...must stick to the rules...

Did you make +20 on EURUSD using NT rules or something else? Forgive me if someone has already asked this obvious question earlier in the thread, but has anyone looked at applying NT rules to other currency pairs?

 

[mark120169]

150pip leg up. This is what was in the air this morning. Alas the amateurs are right at the wrong time.

To follow a system or not to follow is a personal choice and if done for right reasons it can't be wrong. By nature, we are either rational (tending to follow rules) or irrational. One have to understand his/her own nature and build on it rather than loosing when sticking to the system only to miss out when not following it.

Wow what casued this? I rarely look at the charts after I have gathered my NT data. Nice rise for anyone who traded it.

M

 

[Wagtail]

Wow what casued this? I rarely look at the charts after I have gathered my NT data. Nice rise for anyone who traded it.

M

"The U.S. dollar sold off aggressively this morning on the heels of weaker U.S. and Chinese manufacturing data, the largest drop in pending home sales ever, news that Moody's has put Spain's AAA rating on downgrade watch and reports that the number of job cuts on an annualized basis have decreased from the prior month."

 

[peterf1966]

Wow what casued this? I rarely look at the charts after I have gathered my NT data. Nice rise for anyone who traded it.

M

I bought in way down as well, just to see if I could get 10 to add to my 40 bonus yesterday, to put me back where NT would have had me this morning, when I stayed out at 6.30 - and promptly sold at just over 10. Twat!

 

[mark120169]

I didn't know there was another NT (Vanilla) Forum. Thanks for pointing that out. I'll take a meander over and see how things are going there.

Good day Sir,
Mike

Mike go easy on them. They are NT puirists on there who scariest debates are about to move a stop or set a trailing stop or not above +30.

You will well annoy them with your NT critisisms. They wont be able to take. I reckon you will get "it's all about the 2% MM" and historical results etc if you start on them.

Na...only joking say what you like, just report back so I can read the responses for entertainment.

M

 

[mark120169]

"The U.S. dollar sold off aggressively this morning on the news that Moody's has put Spain's AAA rating on downgrade watch QUOTE]

Ooooo......will it be time to take a 3 month Short on he Euro again soon?

M

 

[mark120169]

I bought in way down as well, just to see if I could get 10 to add to my 40 bonus yesterday, to put me back where NT would have had me this morning, when I stayed out at 6.30 - and promptly sold at just over 10. Twat!

But Pete you are our safe tweaker who banks well and only takes educated risks. Bet you where in positive territory for NT june too? I have tried a few plays during the day and usually escape by the skin of my teeth with a small profit or loss.

Then I reaised this is all just guessing really and I should just stick to NT systems where the long turn stistics at least say the coin flip goes in your favour more often than not.

M

 

[pboyles]

Not much action around the pivots for me so far today but the attached chart shows 3 possible PIN bar trades off a support level.

 

[peterf1966]

But Pete you are our safe tweaker who banks well and only takes educated risks. Bet you where in positive territory for NT june too? I have tried a few plays during the day and usually escape by the skin of my teeth with a small profit or loss.

Then I reaised this is all just guessing really and I should just stick to NT systems where the long turn stistics at least say the coin flip goes in your favour more often than not.

M

I know, I know, and yes, applying a bit of +D, meant I am much better off in June than official NT figures.

Normally I leave it in the day, but my entry this morning after NT finished, to try for those 10 pips......went in at 14889.9, closed it for 14902 for £12.10, so I'm £2.10 up from where I should be, but just a bit mad that I had an open long position near the start of todays climb!! Grrr - Actually having said that, I'd have trailed it a bit too tight to see the full rise, anyway no harm done. Till tomorrow!

 

[Claviceps]

Some of you are starting to get into a bit of technical analysis , camarillas - and fibonaccis , I normally stay out of these discussions for fear of giving someone a 'bum steer',however one thing thats not been mentioned in recent times and has helped me pick a few winners are bollinger bands- for sure got me into that humungous long this afternoon . This was a classic example of what Bollinger fans call 'walking the band'
If this is of interest, go to You Tube theres heaps of Bolli demos for forex ,and Bollis are easily added to your charts- just a mouse click .
Hope this helps

 

[BigBrassBalls]

Mike go easy on them. They are NT puirists on there who scariest debates are about to move a stop or set a trailing stop or not above +30.

You will well annoy them with your NT critisisms. They wont be able to take. I reckon you will get "it's all about the 2% MM" and historical results etc if you start on them.

Na...only joking say what you like, just report back so I can read the responses for entertainment.

M

Lol. Please post a link Mike!

 

[mark120169]

Lol. Please post a link Mike!

We are being watched , we are news, a lurker or a poster? Seen this over at the systems for traders website.

"I also fully understand Reviewteam's point about discipline. There's another forum that discusses this system and they seem to be chasing their tails a bit by adding tweak after tweak at the first sign of drawdown. It's a surefire way to lose discipline and destroy your confidence. Seeing a +40 turn negative is just a bit much to deal with psychologically, for me personally. The way the PA was looking this morning there was a danger of that happening!"

God that NT forum is as boring as ****e!

M

p.s I also forgot that in all our chasing of tails we avoided a drawdown month in June. I for one feel we are now doomed compared to the purists over there, how can we hope to survive without drawdown months. The end is nigh I tell ya..........Vanilla NT is the ONLY way to long term success.

p.p.s Unless they have another big drawdown month in July and we don't, then they may be beggin to enter the private forum!

 

[BigBrassBalls]

Lol, glad to see all the tweaking has caught their attention!

They must think this is a forum for mental cases / absolute nutters!

I suppose once all avenue's of tweaking have been explored, we'll become disciplined in trading our own Crazy System's.

I tried a few months on Vanilla, going to spice it up with live trading int for a month now.

Figures for last month were fantastic.

 

[peterf1966]

Lol, glad to see all the tweaking has caught their attention!

They must think this is a forum for mental cases / absolute nutters!

I suppose once all avenue's of tweaking have been explored, we'll become disciplined in trading our own Crazy System's.

I tried a few months on Vanilla, going to spice it up with live trading int for a month now.

Figures for last month were fantastic.

Recap INT for me. This is entry at whatever market level is at 6.30 or a bit before, stop 30, and limit 25? Do GF777's results include an additional NT vanilla trade, or is it INT only?

 

[BigBrassBalls]

Recap INT for me. This is entry at whatever market level is at 6.30 or a bit before, stop 30, and limit 25? Do GF777's results include an additional NT vanilla trade, or is it INT only?

That's INT.

I was under the impression those figures were for int only??

 

[goldfinger777]

That's INT.

I was under the impression those figures were for int only??

yes the figures I posted were for INT only. I am not live trading vanilla NT at the moment. I trade INT with 2% MM.

 

[mark120169]

yes the figures I posted were for INT only. I am not live trading vanilla NT at the moment. I trade INT with 2% MM.

GF777 is the inventor and June live trialer as such. I started logging it's results live daily from 2nd week June and added in back test results from IG charts for 1st week June and before to 17/5/10 to give a full June picture.

Am now also live trialing it in July with NT33S too. Still plan to log and report MNT33s daily too.

M

 

[BigBrassBalls]

I think i'll trade INT from now on, even though profits get cut short like on days like today, overall, just seems to net more profit. Little and often is healthy!