Richard Hill Forex Net Trap

[Denman]

hmm...I think if we go by the book, its a sell?

 

[kpk]

Looking like another no trade day. m.a. has been flat 6 candles in a row from 4.45am. Any thoughts?

NO trade for me also.

 

[Melb]

Looking like another no trade day. m.a. has been flat 6 candles in a row from 4.45am. Any thoughts?

I am staying clear this morning - no NT setup and looks very sideways using other technical analysis... I am following my motto:-

If in doubt - stay out...

 

[piphead]

hmm...I think if we go by the book, its a sell?

I got the ma as falling slightly so I'm in!

 

[jbu001]

With the MA going down for 5 candles, then up for 4, technically looks like a no trade day for me.

 

[me1234]

I got the ma as falling slightly so I'm in!

Same

 

[FxMax]

On FXCM chart, the MA is slightly down. I'm selling.

 

[piphead]

True - It also demonstrates that they cannot follow a set of trading rules or it shows a lack of faith in a system. Either case, stop trading or at least stop trading a system you dont have faith in. Note, again, this is not just specific to Net Trap, have a look at the Rebellion thread, the Sniper thread, the LMT thread, many many suggestions of do this do that, blah blah blah, how many of these people from say, 6 months ago are still going strong, still reporting results, with their tweaked system, NONE (I stand to be corrected of course and I am sure I will be given isolated examples - It would for sure be a board I will be joining if I am proven wrong! I happened upon this one by chance and just had to say something - sorry!).



W

You have a good point these systems probably work best due to consistancy

 

[Gregus83]

I think you guys are forgetting one of the further qualifications for identifying a (no) trade.

 

[Wagtail]

With the MA going down for 5 candles, then up for 4, technically looks like a no trade day for me.

Yep, MA rising for the last 4 bars. No trade.

 

[insidergates]

the more obvious the ma direction the stronger the trade, weak ma = weak trade - just a toss of a coin for me today.

loss of opportunity is better than loss of capital.

good luck if you're looking to trade i don't think its an nt set up this morning

 

[Melb]

hmm...I think if we go by the book, its a sell?

Are you talking about strict NT entry?
On the IG chart I do not see it this way - or have I missed something?

 

[wilczek]

This morning is a great example - Is a trade is it not a trade - This system is immeasurable !

I think someone (or some people even) said back-testing results showed 300 pips a year, Richard Hills real results showed x pips a year, etc. Whats the point of those posts ? On what rules were those results based ? What are you measuring against ?

Crazy !

 

[piphead]

Are you talking about strict NT entry?
On the IG chart I do not see it this way - or have I missed something?

I have .4819 to .4817 with one candle at .4818

 

[bombettor]

for me, MA at 4 AM reads 4817 and at 6:30 AM reads 4815.
Its a SELL at 4820

 

[gbdru2]

Today is a no trade day
page 23, and page 57,
down by "x" (P57) which is good, up for y bars (p23) which is bad = no trade

yes?

 

[Tanguero]

By the book it is a sell. In @ 14827.2

 

[insidergates]

for me, MA at 4 AM reads 4817 and at 6:30 AM reads 4815.
Its a SELL at 4820

but from 5:15 ma is rising , thats 4 rising candles therefore a no trade for me

 

[Melb]

This morning is a great example - Is a trade is it not a trade - This system is immeasurable !

Well, my interpretation of the rules seems to align with RH's emails regarding days of no trade... Today, my interpretation suggests that although the ma has fallen inline with the rules - one of the rules for a 'no trade' has been ignored if you decide to enter... I guess we shall have to await the RH email for definitive proof... For those that have decided to enter this morning - best of luck...

 

[Wagtail]

This morning is a great example - Is a trade is it not a trade - This system is immeasurable !

I think someone (or some people even) said back-testing results showed 300 pips a year, Richard Hills real results showed x pips a year, etc. Whats the point of those posts ? On what rules were those results based ? What are you measuring against ?

Crazy !

You just have to be consistant in your own interpretation of the rules. As long as there is consistancy, the averages will still win over time. Even if I'd read that most here this morning said there was a trade, then it still wouldn't be for me, as for how I've interpreted the rules, it's not. That's where backtesting can help,(even though it's dismissed by some on this thread) as well as giving faith in a system, it also means that I've already traded this system manually several hundred times, and I know that my interpretation of the rules will still win through.

W.