Richard Hill Forex Net Trap

[mark120169]

you're seroius? majority of the people here are making money consistently with this?

you're saying this system works better on longer timeframes? thanks for replying anyway

Officially logged results by the inventor which are emailed weekly to all owners to varify their results it is running @ +1720 pips for 13 months, June 2009 to June 2010.

July so far is around +200 pips , last month was biggest loss month @ -80 pips, only other loss month is Feb 2010 @ -29 pips.

So yes it has good history. A few trading it with the software have backtested it several years and it is profitable each year. But we can't predict the future.

Up to today you are looking at +1919 pips for 13 1/2 months, so it is averaging 142 pips a month, but then individual results to vary as determing when to trade is sometimes a personal choice of interpritation of the rules.

Mant on here are doing ok with it but would of, or have in the past, lost money doing their own thing.

M

p.s. But we are tweaking it quite successfully so far. :whistling

 

[Tenapenny]

Good work:clap:

Do you regularly watch euro prices or was this based on technical analysis?

Thanks

Normally swing trade but just spotted this using 50% fib retracement so got in quick to make a few pennies, took about 1 hour 20 mins and that is very short term for me.

 

[mark120169]

wow. although it's not alot of money. but the returns are great. real great. the percentage of return is a good return. so i think this system really works. can someone introduce to me this system? or what page of this thread can i read more about this system?

That would be cheating as we nearly all paid £247 for it. But take a few evenings and a note book, and read all the posts and you should work it out, peice by piece. Several have.

M

 

[premierpip]

Officially logged results by the inventor which are emailed weekly to all owners to varify their results it is running @ +1720 pips for 13 months, June 2009 to June 2010.

July so far is around +200 pips , last month was biggest loss month @ -80 pips, only other loss month is Feb 2010 @ -29 pips.

So yes it has good history. A few trading it with the software have backtested it several years and it is profitable each year. But we can't predict the future.

Up to today you are looking at +1919 pips for 13 1/2 months, so it is averaging 142 pips a month, but then individual results to vary as determing when to trade is sometimes a personal choice of interpritation of the rules.

Mant on here are doing ok with it but would of, or have in the past, lost money doing their own thing.

M

p.s. But we are tweaking it quite successfully so far. :whistling

thanks for telling me more about the system. a really good history for me to know. i can see it making consistent profit, even if not, the risk return ratio is good to make it pofitable consistently.

what if i find problem with the system? will i get good support? or i can come down to this forum and ask around this thread? what is the website for this system anyway??

 

[premierpip]

That would be cheating as we nearly all paid £247 for it. But take a few evenings and a note book, and read all the posts and you should work it out, peice by piece. Several have.

M

nono.. sorry if i offend you. i'm not asking for the system for free. just that i want to know more about the background of the system. thats all. not trying to get the system for free..

so you mean there are information i can find out about the system here in this thread? is there anywhere i can read more about it?

 

[mark120169]

nono.. sorry if i offend you. i'm not asking for the system for free. just that i want to know more about the background of the system. thats all. not trying to get the system for free..

so you mean there are information i can find out about the system here in this thread? is there anywhere i can read more about it?

A fair few reviews and trading forums doing long term tests. Google Forex Net Trap or Richard Hill Net Trap.

Go to systems for traders webite and find their NT review thread and visit their live trial trading room, a bit sterile over there but the basics of the system are explained.

But you could not trade it from what they explain, too many crucial elements missing.

Pen, paper, cups of coffee, copious notes, few evenings reading this thread in full and you should get it. As an official owner this is the best I can offer i'm affaid, unless you can find a copy for sale.

M

 

[mark120169]

On my mt4 it went down to 1.25224 from 1.25873 at 0700 BST.Got in at 1.25783 for 50 pips.

What's happened in the world. Cable just rose 150+ pips since 7.30!!

Any smart arses rode this baby?

M

p.s this suits me, as long as we stay 80 pips away from 15000 below or above, we should continue to have a good NT run IMO.

 

[premierpip]

A fair few reviews and trading forums doing long term tests. Google Forex Net Trap or Richard Hill Net Trap.

Go to systems for traders webite and find their NT review thread and visit their live trial trading room, a bit sterile over there but the basics of the system are explained.

But you could not trade it from what they explain, too many crucial elements missing.

Pen, paper, cups of coffee, copious notes, few evenings reading this thread in full and you should get it. As an official owner this is the best I can offer i'm affaid, unless you can find a copy for sale.

M

when i googled it, this forum came up first. is it possible you pm me the url? because when i google, i'm not sure which one is it. i don't want to end up at the wrong place. you mean you're the owner of this system? and you mean this system is not for sale?

 

[mark120169]

when i googled it, this forum came up first. is it possible you pm me the url? because when i google, i'm not sure which one is it. i don't want to end up at the wrong place. you mean you're the owner of this system? and you mean this system is not for sale?

No lol. I own a copy of the system.

Try here for a good review.

http://www.systemsfortraders.com/forex-trading-systems/34504-review-net-trap-set-time.html


If you can find a copy for sale buy it, it may be possible but the offer closed on 31/5/10, but someone posted a few copies may still be available.

M

 

[Claviceps]

What's happened in the world. Cable just rose 150+ pips since 7.30!!

Any smart arses rode this baby?

M

p.s this suits me, as long as we stay 80 pips away from 15000 below or above, we should continue to have a good NT run IMO.

did mention earlier that this was likely to bounce back after that early shake out, however I forgot to trail it and only got the usual 50 , had no idea though that it was going to go this far , or further ?

 

[missionary]

ON 'ROUNDING'

Following an earlier comment about interpreting figures using our mentor's description, I wonder which way you all 'round' figures.

I was always taught that a figure of say 10.5 was rounded down to 10.0 . And a figure of 10.6 was rounded to 11.0.

I think some of my learned friends here are only rounding up, and all the way from a 0.1, and thus making the picture appear a little sweeter than it actually is.

'Rounding' - to me anyway - has always meant a balanced adjustment up or down, and not in one direction only.

Congrats by the way to those who did well later. I should have stayed around but decided to go back to bed and then look at other markets after the morning rush/spikes.

mish

 

[premierpip]

No lol. I own a copy of the system.

Try here for a good review.

http://www.systemsfortraders.com/forex-trading-systems/34504-review-net-trap-set-time.html


If you can find a copy for sale buy it, it may be possible but the offer closed on 31/5/10, but someone posted a few copies may still be available.

M

means it's still possible to buy the system but the chance is low? why are they not selling anymore?

 

[Tenapenny]

What's happened in the world. Cable just rose 150+ pips since 7.30!!

Any smart arses rode this baby?

M

p.s this suits me, as long as we stay 80 pips away from 15000 below or above, we should continue to have a good NT run IMO.

Good figures for cable http://www.forexfactory.com/calendar.php?do=geteventinfo&day=2010-7-13&c=2 bad news for euro http://uk.reuters.com/article/idUKLDE66C0CU20100713, simples!

 

[Claviceps]

Good figures for cable http://www.forexfactory.com/calendar.php?do=geteventinfo&day=2010-7-13&c=2 bad news for euro http://uk.reuters.com/article/idUKLDE66C0CU20100713, simples!

But why did the Euro bounce back as well - was there some other news as well as the
Portugese downgrade . I know that there were other anouncements as well as our CPI
but hadn't thought them to be that significant. ?

 

[mark120169]

ON 'ROUNDING'

Following an earlier comment about interpreting figures using our mentor's description, I wonder which way you all 'round' figures.

I was always taught that a figure of say 10.5 was rounded down to 10.0 . And a figure of 10.6 was rounded to 11.0.

I think some of my learned friends here are only rounding up, and all the way from a 0.1, and thus making the picture appear a little sweeter than it actually is.

'Rounding' - to me anyway - has always meant a balanced adjustment up or down, and not in one direction only.

Congrats by the way to those who did well later. I should have stayed around but decided to go back to bed and then look at other markets after the morning rush/spikes.

mish

I plumb my MA figures into a simple excel speeadheet I developed that does the rounding for me and also gives the the exact figure. I jot them daily into a A5 notebook whole, enter then in my spreadsheet then look at what the spreadsheet tells me.

Today it told me XXX27 to XXX28 rounded, a rise of 1 with lots of flats inbetween and a trade. Only 0.7 exact. Had I not been on ETX offer for my net loss cover over the next 10 days I would have gone with the heard here and say no trade.

The Parabolic SAR thing is interesting mentioned earlier, switched that on and it screamed a Sell not a Buy so could be useful indicator where the MA is below 2 and we are getting caught out.

Above 2 MA it often contridicts NT looking back, especially MNT / INT variants and would have caused a missed 50 pips the last 3 weeks with a MA of 4.

But when MA is under 2 and you are unsure it seems it might be a good stay out deciding tool or even as Tang suggested a fook it bet the other way tool, or straddle trade tool.

Will watch this long term now for weak NT trades but you have to be careful not to let it infulence stong NT signals to not take NT trades you might have.

Also I notice in the last 3 weeks the P SAR has agreed with NT but the trade still hit a market change and lost despite NT and P SAR agreeing the trade direction. The P SAR changes direction after trade is entered. Again could be risky to start using it as a get out of the trade early tool.

But as a helper for weak MA days I will consider it from now on.

Crickey we are learning lot on here as we go along.

M

 

[Wagtail]

ON 'ROUNDING'

Following an earlier comment about interpreting figures using our mentor's description, I wonder which way you all 'round' figures.

I was always taught that a figure of say 10.5 was rounded down to 10.0 . And a figure of 10.6 was rounded to 11.0.

I think some of my learned friends here are only rounding up, and all the way from a 0.1, and thus making the picture appear a little sweeter than it actually is.

'Rounding' - to me anyway - has always meant a balanced adjustment up or down, and not in one direction only.

Congrats by the way to those who did well later. I should have stayed around but decided to go back to bed and then look at other markets after the morning rush/spikes.

mish

I would round 10.5 up to 11, not down

 

[Wagtail]

Yes, http://uk.reuters.com/article/idUKLDE66C0CU20100713 did you grab some of that?

Got +40 on euro. Had to go out though and missed my cable signal long. Would have been another +50 on that after the +50 short. Didn't though, so move on.

 

[Tenapenny]

But why did the Euro bounce back as well - was there some other news as well as the
Portugese downgrade . I know that there were other anouncements as well as our CPI
but hadn't thought them to be that significant. ?

It's all about the markets confidence in the figures, also Euro bounce was (almost) inevitable so for a small r/r it's not too hard to make a bit more on the retracement. keep an eye on s/r levels, also fibs work for me. Anyway, have a good day all. I'm off out shopping.

 

[pseudo straddle]

I
The Parabolic SAR thing is interesting mentioned earlier, switched that on and it screamed a Sell not a Buy so could be useful indicator where the MA is below 2 and we are getting caught out.

Above 2 MA it often contridicts NT looking back, especially MNT / INT variants and would have caused a missed 50 pips the last 3 weeks with a MA of 4.

But when MA is under 2 and you are unsure it seems it might be a good stay out deciding tool or even as Tang suggested a fook it bet the other way tool, or straddle trade tool.

Will watch this long term now for weak NT trades but you have to be careful not to let it infulence stong NT signals to not take NT trades you might have.

Also I notice in the last 3 weeks the P SAR has agreed with NT but the trade still hit a market change and lost despite NT and P SAR agreeing the trade direction. The P SAR changes direction after trade is entered. Again could be risky to start using it as a get out of the trade early tool.

But as a helper for weak MA days I will consider it from now on.

Crickey we are learning lot on here as we go along.

M

If you want to learn more about PSAR - this guy spent nearly two years picking over the bones of it - it is a long thread , but it may be worth the time to read it and take notes, especially as the thread starter added these comments to his very first post.

*** IMPORTANT NOTE ***

When I started this thread I was pretty new at trading (which may be obvious from my very first post below). The reason I'm telling you this is because things did NOT work out as well as my first post (below) may lead you to believe. All I'm saying is: don't take my first post (below) and think that you (I) have discovered the 'holy grail'. Far from it.

It's amazing!!! Since I added the above comment I see that this thread has become 'unfashionable'!!! Why??? Because all of a sudden the 'quick road to riches myth' has been dispelled YET AGAIN!!!

Trust me on this one: there is far more important information contained in this thread that relates to the psychology of trading and just what this business CAN do to you if you don't 'do it right' than a 'quick road to riches' indicator!!!
*** END ***

here is the link to his thread about Parabolic SAR

 

[Melb]

If you can find a copy for sale buy it, it may be possible but the offer closed on 31/5/10, but someone posted a few copies may still be available.

Try contacting Agora (Shortcut Publications) customer services [email protected] - they seem to be able to bend the 'offer finished' rule! Perhaps the easy £247 sale is too much to turn away