Richard Hill Forex Net Trap

I have a plus account.

I have been trading since the middle of January now, had most of March off on Holiday but have today hit 400 points profit :clap:
 
It means the bet is subject to slippage in a fast moving market, but so far I have not experienced any problems and the biggest drift I have had is 2 points.
 
thelurker1 said:
What type of account do people have with IG, is it a plus account or limited risk account?
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Go for a plus account for using NetTrap - if you are following it as per the book, you are limiting your risks anyway! The limited risk account seems to make Nettrap a bit less profitable.
 
Today was a random trade, held out until 08:45 to regain some pips for a +6 pips finish, could have had more prior to this, +16-20 pips, while the sell channel was working it's wonders! Will be interesting to see what the weekly results are for this week, as a lot of us have different results and i'm interested to see whether or not Richard traded on thursday!
 
BigBrassBalls said:
Today was a random trade, held out until 08:45 to regain some pips for a +6 pips finish, could have had more prior to this, +16-20 pips, while the sell channel was working it's wonders! Will be interesting to see what the weekly results are for this week, as a lot of us have different results and i'm interested to see whether or not Richard traded on thursday!
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Just received the Forex roundup for net trap . RH ended the week +7 becasue...................he found Thursday indecisive and did not trade. So us riskier types where quite lucky, but I got the MA as rising, but only by a few pips so it was a risk.

May was a slow month RH reckons he only acheived +37 pips for May, so those that did the whole of May and took the risk thursday :devilish: and gained the extra 30-50 pips (depending on your nerves if you where watching it) then should possibly have got around +85 pips or more for May, making it not such a bad month.

Have a good Bank holdiay weekend everyone. Fingers crossed for June.

M
 
BigBrassBalls said:
Today was a random trade, held out until 08:45 to regain some pips for a +6 pips finish, could have had more prior to this, +16-20 pips, while the sell channel was working it's wonders! Will be interesting to see what the weekly results are for this week, as a lot of us have different results and i'm interested to see whether or not Richard traded on thursday!
Click to expand...

Tweaking the system is of course a risk for newbies (like me). I've had my fingerss burnt the last couple of days trying to do this (in terms of limited gains rather than losses) which has been a bit heart-stopping at times as I went up to £5 per pip a week ago (argh)
 
me1234 said:
Tweaking the system is of course a risk for newbies (like me). I've had my fingerss burnt the last couple of days trying to do this (in terms of limited gains rather than losses) which has been a bit heart-stopping at times as I went up to £5 per pip a week ago (argh)
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I prefer to follow the rules religiously! But sometimes, as above it pays to take a risk!

:idea:The only thing i'll be tweaking on this system in time, is the exit strategy, for example today....you are meant to close at 8:30, but the chart had a strong selling channel meaning we could have rode this all the way down to a channel break!

It's been a volatile month, with the Greece crisis and the general election. Still, the net trap system coped well by limiting losses and even ended in the green! Will be increasing my stake for the next month :D

P.S - WIll anyone be daring and trade on the bank holiday?!
 
Peter, thank you, very informative. Who would you suggest a beginner should open a broker account with?
Regards
 
I prefer to follow the rules religiously! But sometimes, as above it pays to take a risk!
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In my view this can only lead to "Negative Reinforcement" which is not what you want when trading as it will ultimately lead to ongoing losses.


Paul
 
BigBrassBalls said:
I prefer to follow the rules religiously! But sometimes, as above it pays to take a risk!

:idea:The only thing i'll be tweaking on this system in time, is the exit strategy, for example today....you are meant to close at 8:30, but the chart had a strong selling channel meaning we could have rode this all the way down to a channel break!

It's been a volatile month, with the Greece crisis and the general election. Still, the net trap system coped well by limiting losses and even ended in the green! Will be increasing my stake for the next month :D

P.S - WIll anyone be daring and trade on the bank holiday?!
Click to expand...

I nearly took a trade on Thursday but lets be honest: there can be absolutely no doubt at all that by the strict rules it was 100% a no trade day. As it happens I deliberated and made the wrong decision by not placing a trade. :mad: It was a positive month overall for me: I played around a bit at election time and made 167 pips in the month.
As for Monday Given its a holiday both here AND the US I can't believe there'll be much volatility that would generate exciting trading conditions....?
Good luck all
 
pseudo straddle said:
Will IG be trading this market on monday? - their message regarding the bank holiday is not very explicit - it just says most UK and US markets will be closed and then lists a few that may be traded.

:confused:
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As far as I know the forex markets are open, unless anyone knows different? Can't believe there'll be much happening though?
 
I don't know if this is true but I've heard that Richard Hill is closing new orders to this system after May 31st...(recieved on an email tonight)? Is this just a ploy to get lots of orders before making it available again a few weeks later?
 
langmeadman said:
I don't know if this is true but I've heard that Richard Hill is closing new orders to this system after May 31st...(recieved on an email tonight)? Is this just a ploy to get lots of orders before making it available again a few weeks later?
Click to expand...

True according to the e-mail!
 
BigBrassBalls said:
True according to the e-mail!
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Yep I got the three days left email too. We shall see. I just watched his "over the shoulder" video link off his nettrap roundup email and what a laugh. It was filmed three months ago before the General Election / Greece / Euro / Korea / Stock market panic / BP oil leak situations.

I pissed myself laughing because the dropping MA was like a mill pond compared to what we have delt with in May. All very laid back, no panic setups or violent spikes up and down a few hours just before the 4am candle etc. He even waits about 1 min before he submits his trade as the price only drops about two pips while he chats.

Comapred to the last two weeks this seems luxury. I would be worried ****less about waitng 1 or 2 mins before submitting a open order becasue the window might just pass in the blink of an eye! I think those that started this month have had their baptism by fire!

I am looking forward to this even more now once the markets settle in a steady pace again, seems quite stress free. :p

M
 
Hello All. Mr Hill recommends 2% of your bank. At what stage to you increase/decrease - daily/weekly/monthly?
Thanx
 
Hi, I received an e-mail about this system yesterday.. but am in Australia.. is there a problem with trading FX from here? I've just lost a heap of savings having a shot, and am a little concerned? BTW.. congrats on all of you people giving it the proverbial try! sounds like you're doing great! :)
 
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