Richard Hill Forex Net Trap

[MikesDirect]

It is quite scary how some days cable does seem to track the FTSE movements, or vice versa, like MikeD said. Today is a classic.

Not sure which leads which?

M

As I've always said, I use it purely as an "indicator" (and a very good one at that), nothing more, nothing less. I find more often than not, it "pays" to keep an eye on it!

Good day Sir,
Mike

 

[Dubai]

Another decent day for Net Trap , nice to be racking up some wins ,had been expecting this sell off to go further , but there seems to be pretty firm support around the
1.5092 level at present-is a reversal in the offing ? - I wouldn't bet on it -not yet any- how .

1.5080 is was yesterday's low and right on the weekly trendline. Pretty strong support right there. This could go right back up to 1.5200 again given the price action right now.

If it clears 1.5160 then 1.5200 is definitely on the cards.

 

[mark120169]

As I've always said, I use it purely as an "indicator" (and a very good one at that), nothing more, nothing less. I find more often than not, it "pays" to keep an eye on it!

Good day Sir,
Mike

Hi Mike, I notice you've only ever posted on this forum on this site. What's the interest in us? Surely there are loads of system forums you could comment on too here?

Not tempted to trade NT (or variant) yet either?

M

 

[mark120169]

As I've always said, I use it purely as an "indicator" (and a very good one at that), nothing more, nothing less. I find more often than not, it "pays" to keep an eye on it!

Good day Sir,
Mike

This is quite scary today. On the IG charts the Wall St Daily, FTSE and Cable all are mirroring each other overnight and all of today.

Is this normal? Decided to do a rare daytime punt and took a long @ 15128. Will keep an eye out now if Wall St crashes on open @ 2.30pm dragging all others down.

What is the Wall St daily based on in spreadbetting, the DOW or the S&P ?

M

edit. Stop to 15138 now. Will either scalp +10 pips or ride the breakout up if it punches above 15160. Nothing ventured, nothing gained.

 

[mark120169]

This is quite scary today. On the IG charts the Wall St Daily, FTSE and Cable all are mirroring each other overnight and all of today.

Is this normal? Decided to do a rare daytime punt and took a long @ 15128. Will keep an eye out now if Wall St crashes on open @ 2.30pm dragging all others down.

What is the Wall St daily based on in spreadbetting, the DOW or the S&P ?

M

edit. Stop to 15138 now. Will either scalp +10 pips or ride the breakout up if it punches above 15160. Nothing ventured, nothing gained.

Ok punched above 15160 now quite well, high of 15174. whats best now. Target a fixed amout or trailing stop over 15178 once it's +50 ? Advice anyone?

M

 

[gbdru2]

Ok punched above 15160 now quite well, high of 15174. whats best now. Target a fixed amout or trailing stop over 15178 once it's +50 ? Advice anyone?

M

what was your original target? take it...

or

take half off the table now, move your stop up/trail and it see what you get?

 

[mark120169]

what was your original target? take it...

or

take half off the table now, move your stop up/trail and it see what you get?

No limit thought of to be honest or set yet. open ended, maybe target just below recent high now as it has cleared 15185.

edit. Ok decided to target 15218 which would be + 90 on a trailing stop Distance 40 step 10. Nothing to lose some profit locked in now. Any better suggestions please let me know.

M

 

[pseudo straddle]

What is the Wall St daily based on in spreadbetting, the DOW or the S&P ?

M

.

http://www.trade2win.com/boards/us-indices/17282-wall-street-daily-cash.html

 

[gbdru2]

No limit thought of to be honest or set yet. open ended, maybe target just below recent high now as it has cleared 15185.

edit. Ok decided to target 15218 which would be + 90 on a trailing stop Distance 40 step 10. Nothing to lose some profit locked in now. Any better suggestions please let me know.

M

As long as you've locked some profit in then the rest is bonus.

i'm in too at 85 with a target of 00 and 15 - also for an OTO at 10515 on USD/CAD if it falls

 

[mark120169]

As long as you've locked some profit in then the rest is bonus.

i'm in too at 85 with a target of 00 and 15 - also for an OTO at 10515 on USD/CAD if it falls

Yes +20 locked in on the trailing stop now. Thinking if it clears 15200 I will lower trailing stop distance to 20 to lock in another 20 pips on where it is at then.

M

edit. broke 15200, trailing stop adjusted +50 locked in now. So gained back my +50 for lack of faith for tuesday now. Nice.

 

[mark120169]

http://www.trade2win.com/boards/us-indices/17282-wall-street-daily-cash.html

Thanks PS. I guessed it must be the DOW.

M

 

[gbdru2]

As long as you've locked some profit in then the rest is bonus.

i'm in too at 85 with a target of 00 and 15 - also for an OTO at 10515 on USD/CAD if it falls

well that was easy :clap:

 

[peterf1966]

Yes +20 locked in on the trailing stop now. Thinking if it clears 15200 I will lower trailing stop distance to 20 to lock in another 20 pips on where it is at then.

M

Picked a good un there.

Why not trail stop to 78, which was your orig target, anything else a bonus, hitting 15200 now.

 

[mark120169]

Picked a good un there.

Why not trail stop to 78, which was your orig target, anything else a bonus, hitting 15200 now.

Done already +60 locked in now.

M

 

[gbdru2]

Picked a good un there.

Why not trail stop to 78, which was your orig target, anything else a bonus, hitting 15200 now.

I see traffic over 215... I'd put stops at 85...

 

[BigDunc]

Any better suggestions please let me know.

Buy us all a :cheers: with your profits?

 

[peterf1966]

Done already +60 locked in now.

M

falling slightly now, take it? Might be all done at the 200 ish level now?

Edit lol what do know?

 

[mark120169]

I see traffic over 215... I'd put stops at 85...

Trailing stop is now at 88 , came close to a whisker of stopping down to 90.4, off up again now. Will adjust to +70 automatically once if it clears 208.

M

edit done.........+70 locked in.....getting tense now!

 

[gbdru2]

No limit thought of to be honest or set yet. open ended, maybe target just below recent high now as it has cleared 15185.

edit. Ok decided to target 15218 which would be + 90 on a trailing stop Distance 40 step 10. Nothing to lose some profit locked in now. Any better suggestions please let me know.

M

Another way I sometimes look at it is to place stops /profit targets based on the price as it is at the time..

so say you were in the trade and price reached 79. I'd say right i want a 15 point stop here and therefore my profit target would be +15 on the 79..

Each time you're re-basing the stop and profit on the price level at that moment..

Sometimes helps not get carried away with too large (if thats possible) a target.. if the price has already moved 60/70/80 pips etc then how often does it go another 30/40 etc
you can lose out chasing the rainbow

 

[gbdru2]

Trailing stop is now at 88 , came close to a whisker of stopping down to 90.4, off up again now. Will adjust to +70 automatically once if it clears 208.

M

edit done.........+70 locked in.....getting tense now!

relax... its all PROFIT :clap::clap: