Richard Hill Forex Net Trap

"I truly recommend to have a separate account if you want to use another system. NetTrap does not care after 8:30 (yes, obvious but I did not clearly understand this until recently ) but LFOS does care !. At least, they have disclosed the details of results, I trust them ( but I think this may not fit to my psychology. )"

Why have a separate account for each system if you use proper MM. I have 2 accounts but use them both with the strategies I use. MM is the key.
 
Tenapenny said:
"I truly recommend to have a separate account if you want to use another system. NetTrap does not care after 8:30 (yes, obvious but I did not clearly understand this until recently ) but LFOS does care !. At least, they have disclosed the details of results, I trust them ( but I think this may not fit to my psychology. )"

Why have a separate account for each system if you use proper MM. I have 2 accounts but use them

both with the strategies I use. MM is the key.
Click to expand...


Hello there, it is very honer as an advanced trader replied to me :) My intention is exactly what you said "MM is the key", to me as a less experienced trader, I have found a difficulty to manage different systems in an account for MM.


Things I have come cross was around 9/4 GBP/USD I was short side and stop at1.5320, and reverse buy order just above 1.5325. But I did cancelled the this reverse order because Nettrap has already buy order 10 pound per pips. What I thought was " gosh I would have a large position for long now" . But Nettrap does not care my own system, just trade what she wants (NetTrap got a nice 50 pips target that day) . My own system got a stop at 1.5320 and cancelled a reverse long order.

You would make a laugh about what I said here. Your brain automatically works out each trading system operates independently with each MM. But Frankly, this is an extremely complicated business for a less advanced trader !!

Nettrap should given a couple of hundred pips to my accounts but it was not. Why ? because MM was not good and other less profitable trading block Nettrap performance etc. So unless you know exactly what you are doing, having a separate account makes MM easy, (and more conservative risk control)

I really appreciate advanced traders like yourself (where is Blackswan now ? ) contributes here to let us know the importance of Money/Risk managements.

I have completely agree with what you said MM is the Key, and in order to achieve this, it would be a good idea for novice investor/trader to make a separate account to operate each MM. MM is the key for survival in a long term.

Thanks for your comment, and have a funny funky long weekend to everybody.

Toshi
 
Last edited:
mark120169 said:
I had a look at their site, it seems ok but the have no mobile apps I could see at all, let alone a specialist speadbetting one which is the attraction of IG Index.

I am going to change my phone to a new 3g quasi smartphone thing (still soldiering on with a good old working Nokia 6320i from 2004) but don't want to shell out for a full blown big screen 3G Iphone type smartphone or buy and lug around a 3G nettop just to close out the 8.30am deal on the move.

Hence the IG custom mobile app seemed the perfect solution and someone has already mentioned using it on an older Nokia N95 and it working well.

I plan the get the quite new Samsung Genio slide from Tesco Direct for £100!! :cheesy:

http://direct.tesco.com/q/R.207-8691.aspx

As I am already a tesco PAYG customer and the features on this quasi smartphone are amazing, 2.8" touchscreen, slide out full qwerty keyboard, Wifi, 3G , 2G , GPS, bluetooth, 3.2mp camera, and the list goes on and on and on. really good review here;

http://www.techradar.com/reviews/phones/mobile-phones/samsung-genio-slide-677771/review?artc_pg=1

It's also ok looking and not too big, ok a quite wider than the old Nokia candybar but not really much longer or thicker, had a good look at the demo one in the Local Tesco's extra today.

Like I said this will give me full internet access on the move via wifi or 3G so will be able to close the 8.30am trade almost anywhere out of the house using the IG mobile app.

Makasu Pm'ed me earlier and emailed an interesting info about the two IG accounts so I'm thinking plunging in and opening the Plus Account if they will let me as a newbie, unless someone wants to steer me to the Limited Risk Account from experience? :confused:

M
Click to expand...


I have an HTC which is fine for monitoring my P&L's/closing positions...the IG mobile app works well on it and T-mobile are doing some good deals on them atm...'cos I was an existing customer I got one for free at 12:50 per month, only got 300 mins 300 texts (ok for me) but unlimited interweb..
 
Black Swan said:
I have an HTC which is fine for monitoring my P&L's/closing positions...the IG mobile app works well on it and T-mobile are doing some good deals on them atm...'cos I was an existing customer I got one for free at 12:50 per month, only got 300 mins 300 texts (ok for me) but unlimited interweb..
Click to expand...

I can't get the IG app to work on my Blackberry Bold which is annoying
Due for an upgrade soon, hopefully gonna get the iPhone 4G!
 
toshi said:
Hello there, it is very honer as an advanced trader replied to me :) My intention is exactly what you said "MM is the key", to me as a less experienced trader, I have found a difficulty to manage different systems in an account for MM.


Things I have come cross was around 9/4 GBP/USD I was short side and stop at1.5320, and reverse buy order just above 1.5325. But I did cancelled the this reverse order because Nettrap has already buy order 10 pound per pips. What I thought was " gosh I would have a large position for long now" . But Nettrap does not care my own system, just trade what she wants (NetTrap got a nice 50 pips target that day) . My own system got a stop at 1.5320 and cancelled a reverse long order.

You would make a laugh about what I said here. Your brain automatically works out each trading system operates independently with each MM. But Frankly, this is an extremely complicated business for a less advanced trader !!

Nettrap should given a couple of hundred pips to my accounts but it was not. Why ? because MM was not good and other less profitable trading block Nettrap performance etc. So unless you know exactly what you are doing, having a separate account makes MM easy, (and more conservative risk control)

I really appreciate advanced traders like yourself (where is Blackswan now ? ) contributes here to let us know the importance of Money/Risk managements.

I have completely agree with what you said MM is the Key, and in order to achieve this, it would be a good idea for novice investor/trader to make a separate account to operate each MM. MM is the key for survival in a long term.

Thanks for your comment, and have a funny funky long weekend to everybody.

Toshi
Click to expand...

"..advanced trader", I wish! Thanks for the compliment though.:D
 
ever look into forex robots... trading signals... and the other million products out there.... so many strategies to look at... buy low / sell high...lol... no really try different ones on practice accounts and do you homework!! reading candlestick charts is easy and quite profitable!
 
Rugby Trader said:
I can't get the IG app to work on my Blackberry Bold which is annoying
Due for an upgrade soon, hopefully gonna get the iPhone 4G!
Click to expand...


Hi How about skyfire ? even for a temporally solutions.

http://www.skyfire.com/

My old windows mobile is anti-java and does not work with Java application
(silly MS)

Skyfire works with most (capitalspreas, IGmarket etc ) but won't work with IGindex with my environment (strangel)

Skyfire offers a desktop browser, it may not be a practical but better than nothing. ;)
 
Last edited:
Got hold of the net trap manual yesterday.
I'll try to update the thread daily with my trades taken usinf net trap system.
 
No trade day today (04-MAY-10) as the MA is flat, positive slope, negative slope all in last 10 candles. Better to stay away.
 
My latest results.

Mon 29th Mar +56 pips (broke the rules a little)
Tue 30th Mar +38 pips
Wed 31st Mar – No trade
Thu 1st Apr - No trade
Fri 2nd Apr +4 pips
(Total +98 pips for the week)

Mon 5th Apr – Holiday – No trade
Tue 6th Apr -30 Pips
Wed 7th Apr – No trade
Thu 8th Apr +50 pips
Fri 9th Apr – No trade
(Total +20 pips for the week)

Mon 12th Apr – No trade
Tue 13th Apr – No trade for me (couldn’t get near a PC)
Wed 14th Apr -30 pips
Thu 15th Apr -30 pips
Fri 16th Apr +50 pips
(Total -10 pips for the week)

Mon 19th Apr -30 Pips
Tue 20th Apr – No trade
Wed 21st Apr – No trade
Thu 22nd Apr +22 pips (was late in manually closing out trade)
Fri 23rd Apr +50 pips
(Total +42 pips for the week)

Mon 26th Apr +20 pips (Buy 1.5471, Sell 1.5491)
Tue 27th Apr – No trade
Wed 28th Apr – No trade
Thu 29th Apr -30 pips (Sell 1.5150, Buy 1.5180)
Fri 30th Apr +50 pips (Buy 1.5331, Sell 1.5381)
(Total +40 pips for the week)

Mon 3rd May – No trade (Bank holiday)
Tue 4th May – No trade

Thought I would start putting in my actual entry and exit prices if anyone wants to compare.

Regards
DS
 
Last edited:
My latest results.

Mon 29th Mar +56 pips (broke the rules a little)
Tue 30th Mar +38 pips
Wed 31st Mar – No trade
Thu 1st Apr - No trade
Fri 2nd Apr +4 pips
(Total +98 pips for the week)

Mon 5th Apr – Holiday – No trade
Tue 6th Apr -30 Pips
Wed 7th Apr – No trade
Thu 8th Apr +50 pips
Fri 9th Apr – No trade
(Total +20 pips for the week)

Mon 12th Apr – No trade
Tue 13th Apr – No trade for me (couldn’t get near a PC)
Wed 14th Apr -30 pips
Thu 15th Apr -30 pips
Fri 16th Apr +50 pips
(Total -10 pips for the week)

Mon 19th Apr -30 Pips
Tue 20th Apr – No trade
Wed 21st Apr – No trade
Thu 22nd Apr +22 pips (was late in manually closing out trade)
Fri 23rd Apr +50 pips
(Total +42 pips for the week)

Mon 26th Apr +20 pips (Buy 1.5471, Sell 1.5491)
Tue 27th Apr – No trade
Wed 28th Apr – No trade
Thu 29th Apr -30 pips (Sell 1.5150, Buy 1.5180)
Fri 30th Apr +50 pips (Buy 1.5331, Sell 1.5381)
(Total +40 pips for the week)

Mon 3rd May – No trade (Bank holiday)
Tue 4th May – No trade
Wed 5th May -30 pips (Sell 1.5132, Buy 1.5162)

Regards

DS
 
Thanks DS. Only seeing your results, has encouraged me to go forward with this sytem.
Though, my first trade has been a loss, lets see how the month progresses.
 
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