Richard Hill Forex Net Trap

[mark120169]

You really have no idea what you're talking about, we pay as little as 0.25-0.5 pip spread on the EU.

BTW this clever accountant of yours, have you discussed the complexity of your SB tax affairs with him? Mind how you go, wouldn't want the 4 grand you've made this year swallowed up in his fees in one go...

No need to declare "betting" income. No different from taking a bet on a horse. So no need to declare to HMRC or accountant.

HMRC would back down form any court case trying to obtain tax off it becasue if they won the case and it set a precent that "betting" income is taxable, this would mean "losses" could then be offset against PAYE tax.

And as most "Gamblers" run a loss rather than a profit if they coulds all offset gambling losses against PAYE the HMRC would lose Billions in revenue.

So they will never prosecute.

M

 

[Black Swan]

No need to declare "betting" income. No different from taking a bet on a horse. So no need to declare to HMRC or accountant.

HMRC would back down form any court case trying to obtain tax off it becasue if they won the case and it set a precent that "betting" income is taxable, this would mean "losses" could then be offset against PAYE tax.

And as most "Gamblers" run a loss rather than a profit if they coulds all offset gambling losses against PAYE the HMRC would lose Billions in revenue.

So they will never prosecute.

M

Is that his (your accountant's) advice on the matter?

 

[mark120169]

Is that his (your accountant's) advice on the matter?

Nope, wont even mention betting gains to him. The law is betting is tax free.

http://www.dailymail.co.uk/sport/article-28835/Betting-tax-abolished.html

M

 

[mark120169]

So you don't know the answer..

With regards to my trading what makes you think I'm long on any of my 3 Euro pairs?

From memory the personal allowance is around just under £7k, this you can earn tax free, between this and about £34k you pay 20% tax, above 34k is 40% tax, not sure when the new 50% level kicks in, earnings over £150k I think.

The rough rule of thumb is gross earnings over £40k is 40% tax. Can't be bothered to look up the exact amount.

What are you trying to prove?

M

 

[Black Swan]

Nope, wont even mention betting gains to him. The law is betting is tax free.

http://www.dailymail.co.uk/sport/article-28835/Betting-tax-abolished.html

M

So you get your *advice* from the Daily Hate...

OK so back to one of the points I made...most of the contributors to your 'ickle forum do not make anywhere near ten grand trading fx and are very unlikely to do so being part time. Therefore they'd be best using fxcm or dbfx or another fx broker. The tax issue (whilst a sales tactic employed by the SB industry) is in fact irrlevant.

If you are hunting for 20 pips in a trade you're in fact losing 5-7 to the SB firm. Then add in the slippage, the fact that your narow stops are far more likely to be hit...

 

[mark120169]

So you get your *advice* from the Daily Hate...

OK so back to one of the points I made...most of the contributors to your 'ickle forum do not make anywhere near ten grand trading fx and are very unlikely to do so being part time. Therefore they'd be best using fxcm or dbfx or another fx broker. The tax issue (whilst a sales tactic employed by the SB industry) is in fact irrlevant.

If you are hunting for 20 pips in a trade you're in fact losing 5-7 to the SB firm. Then add in the slippage, the fact that your narow stops are far more likely to be hit...

Sounds sensible. We infact have quite a few members trading £4-£10 pip. We try and develop FNT to acheive 25 pips p/w average, we are on target for this for 2010. you are right like me most this is a sideline thing.

I have no beef with you BS, you just have to accept the fact everyone has their own opinions. My advice to anyone liking what BS is say is to PM him and get some extra info.

I'm very happy yo S/B via SLM MT4. No slippage and spreads are good and just don't have to think about the tax of trading lots etc, SLM fix lots to £1.

keeps my forex trading KISS.

i'm profitable in just over six months, many are not, be happy for me!

M

 

[Black Swan]

Sounds sensible. We infact have quite a few members trading £4-£10 pip. We try and develop FNT to acheive 25 pips p/w average, we are on target for this for 2010. you are right like me most this is a sideline thing.

I have no beef with you BS, you just have to accept the fact everyone has their own opinions. My advice to anyone liking what BS is say is to PM him and get some extra info.
I'm very happy yo S/B via SLM MT4. No slippage and spreads are good and just don't have to think about the tax of trading lots etc, SLM fix lots to £1.

keeps my forex trading KISS.

i'm profitable in just over six months, many are not, be happy for me!

M

Not opinion it's fact, most SB firms make their cut of 2 pips (on average) profit from their source. As for sml have you tested them versus dma/ecn/ndd brokers and the fact that they're using MT4 (who add on cost)? I think you'll find they are in fact miles away from the *true* market price, I'd suggest as wide as 4/5 pips at times. Unless they are Morgan Stanley in disguise how on earth can such a tiny outfit genuinely give you a one pip spread? Simply impossible. It may look like 1 pip spread, heh Worldspreads and similar outfits do the same, but in reality, by the time you're filled, it's 3/4 pips away from the best fill out there..

Fwiw my advice for anyone starting out trading forex exclusively is to open with fxcm or alpari micro...get proficient then move up to fxcm's standard account or move on up to dbfx (who are the largest forex firm on the planet) so once you or your firm/syndicate are big enough Autobahn may return your calls...

If you want the best out of SB you simply can't have it forex trading for 20-25 pips off small TFs on their standard accounts, you're giving them 35%+ of the profit and making 'the job' incredibly difficult for yourself...

Think of it this way, on a ten grand account you could be break even over a year, or be 3 grand up..

 

[Dubai]

Not opinion it's fact, most SB firms make their cut of 2 pips (on average) profit from their source. As for sml have you tested them versus dma/ecn/ndd brokers and the fact that they're using MT4 (who add on cost)? I think you'll find they are in fact miles away from the *true* market price, I'd suggest as wide as 4/5 pips at times. Unless they are Morgan Stanley in disguise how on earth can such a tiny outfit genuinely give you a one pip spread? Simply impossible. It may look like 1 pip spread, heh Worldspreads and similar outfits do the same, but in reality, by the time you're filled, it's 3/4 pips away from the best fill out there..

Fwiw my advice for anyone starting out trading forex exclusively is to open with fxcm or alpari micro...get proficient then move up to fxcm's standard account or move on up to dbfx (who are the largest forex firm on the planet) so once you or your firm/syndicate are big enough Autobahn may return your calls...

If you want the best out of SB you simply can't have it forex trading for 20-25 pips off small TFs on their standard accounts, you're giving them 35%+ of the profit and making 'the job' incredibly difficult for yourself...

Think of it this way, on a ten grand account you could be break even over a year, or be 3 grand up..

You seriously consider FXCM a reliable MM?

OANDA knock spots off them. ATC Brokers also miles better. Then you've got Dukascopy. Then you move up a league and you've got Marex who have roughly 50 million at current market price. dbFX is in no way a representation of the true Deustche bank. They lease their software from FXCM. Agreed, Autobahn is a step up but I'd take Barclays over them.

 

[Black Swan]

You seriously consider FXCM a reliable MM?

OANDA knock spots off them. ATC Brokers also miles better. Then you've got Dukascopy. Then you move up a league and you've got Marex who have roughly 50 million at current market price. dbFX is in no way a representation of the true Deustche bank. They lease their software from FXCM. Agreed, Autobahn is a step up but I'd take Barclays over them.

Using them as examples as being light years better than using SB for the type of trading the nappy trappies engage in; 20 pip small TF trading based around orders etc. But yes IMO fxcm and or dbfx are excellent.

dbfx software is leased from fxcm, very good it is too. As for Autobahn well that was my little joke...you missed it obviously

Dukas..hmm...used them, they're OK, platforms are gash. But tbh spread betting is fine if you're going to swing and or position trade or need/want to trade securities not available with fx brokers, but that wasn't the point I was making.

 

[mark120169]

And again Joining instructions for the private forum:

Yes my tip is Join the private forum asap. Details below. Wait until you have the manual in your hands though, without it you wont be able to answer the security question.

For those finding there way here via google and wish to join the new private forum where all the action is. Joining instructions if you own a copy of Forex Net Trap.


1) go here to this link ;

http://www.trade2win.com/boards/members-private-forums/

2) You will see a list of private forums, starting with "Real Live Trading" , 2nd from the bottom is ours "Forex Net Trap" the text looks like this ;

Forex Net Trap (XX Viewing)
A private forum for the discussion of Forex Net Trap.
Request access "here" if you wish to join.

3) On the "Request access "here" if you wish to join" click on the "here" link.

4) Forex Net Trap Members is the third one down (Fourth is Forex Signal Providers, please don't apply to join that one). To the right of each Forum name is a column that says "join" and a circle that if you click will turn into a blue dot.

Once you have the blue dot go to the bottom of the screen and in the centre is another button that says"Join Group" .

Click this, then you get another screen where you can leave a cheery polite message and click another button, but I cant remember now what that is called so if you fail this last bit you are beyond help!

5) After you have done this send a PM to SA Trader and request the security question for entry.

6) Once you have received the security question reply to SA Trader in a PM with the answer then wait a few days and you should have access. Both SA Trader and myself have full time jobs so please be patient.

M

 

[ali786110]

And again Joining instructions for the private forum:

Yes my tip is Join the private forum asap. Details below. Wait until you have the manual in your hands though, without it you wont be able to answer the security question.

For those finding there way here via google and wish to join the new private forum where all the action is. Joining instructions if you own a copy of Forex Net Trap.


1) go here to this link ;

http://www.trade2win.com/boards/members-private-forums/

2) You will see a list of private forums, starting with "Real Live Trading" , 2nd from the bottom is ours "Forex Net Trap" the text looks like this ;

Forex Net Trap (XX Viewing)
A private forum for the discussion of Forex Net Trap.
Request access "here" if you wish to join.

3) On the "Request access "here" if you wish to join" click on the "here" link.

4) Forex Net Trap Members is the third one down (Fourth is Forex Signal Providers, please don't apply to join that one). To the right of each Forum name is a column that says "join" and a circle that if you click will turn into a blue dot.

Once you have the blue dot go to the bottom of the screen and in the centre is another button that says"Join Group" .

Click this, then you get another screen where you can leave a cheery polite message and click another button, but I cant remember now what that is called so if you fail this last bit you are beyond help!

5) After you have done this send a PM to SA Trader and request the security question for entry.

6) Once you have received the security question reply to SA Trader in a PM with the answer then wait a few days and you should have access. Both SA Trader and myself have full time jobs so please be patient.

M

I have PM SATrader but haven't been sent the secret question.

 

[jodol]

hi, does anybody have any long term results with Net trap, say over 9 months as the system seems to be losing it,s way recently? and doesn't quote ood results.

 

[mark120169]

hi, does anybody have any long term results with Net trap, say over 9 months as the system seems to be losing it,s way recently? and doesn't quote ood results.

Later today or tomorrow morning will post 2010 official full results including last week. You have to remember marketing is marketing and the best "official" months for FNT happens before the system was for sale in Summer 2009. Was not launched until December 2009 so I and many other trappers ignore the June to December 2009 figures as you can't trade the past and just look at the 2010 figures.

M

 

[Black Swan]

Later today or tomorrow morning will post 2010 official full results including last week. You have to remember marketing is marketing and the best "official" months for FNT happens before the system was for sale in Summer 2009. Was not launched until December 2009 so I and many other trappers ignore the June to December 2009 figures as you can't trade the past and just look at the 2010 figures.

M

So it's rubbish, but it got you guys *into* forex so that's a 'good' thing?

 

[ValleyBoy]

Hey Jodol

Been using FNT as an unreconstructed VNTer for 9 months.
Results to date, in pips:
Mar: +191
Apr: +59
May: +95
Jun: -69
Jul: +149
Aug: +72
Sep: +17
Oct: -14
Nov: -60

As you can see, results for the last 3 months not too clever.

Cheers.

 

[mark120169]

hi, does anybody have any long term results with Net trap, say over 9 months as the system seems to be losing it,s way recently? and doesn't quote ood results.

Ok for you. Richard Hills FNt (VNT) has from 4/1/10 to 26/11/10 generated an official +515 pips.

However, only 88 of these have been generated since 1/6/10 !

But...........do not dispair. We have several variants of FNT on the private forum and our top one has generated +1024 pips for 4/1/10 to 26/11/10 for the same 2% per trade risk, and +652 of these pips have been made since 1/6/10.

We also have other indicators that avoid a fair few loss days too so make it even more profitable.

And all this is still set and forget once toy place the trade @ 6.30am until 8.30 am just like FNT.

M

 

[jodol]

Ok for you. Richard Hills FNt (VNT) has from 4/1/10 to 26/11/10 generated an official +515 pips.

However, only 88 of these have been generated since 1/6/10 !

But...........do not dispair. We have several variants of FNT on the private forum and our top one has generated +1024 pips for 4/1/10 to 26/11/10 for the same 2% per trade risk, and +652 of these pips have been made since 1/6/10.

We also have other indicators that avoid a fair few loss days too so make it even more profitable.

And all this is still set and forget once toy place the trade @ 6.30am until 8.30 am just like FNT.

M

Thanks for your info, much appreciated, when you say on the private forum is this on T2W site and how can you join it.

 

[mark120169]

Thanks for your info, much appreciated, when you say on the private forum is this on T2W site and how can you join it.

look back a few pages.

M

 

[MaxiV]

Wow this is a long thread.
Hi im new (again was a member long time ago... everything changed... re-registeed). I have been one of the Beta Testers for the FNT (or NetBuster what it was named first by Richard Hill). I like this sytem and it works well with persistance... but find different times of the month when its best not to trade...>>> Summer (when all the big trading dogs are on their Holidays), when the US and UK clocks are not in sync and coming up to Xmas and new year. I've made some mods of my own... wich worked well up until the last two months where things are not going to plan!?

 

[MaxiV]

Thanks, Mark, I've done as you suggest.

Currently, I have accounts with the following companies:

WorldSpreads, Gekko, TD Waterhouse, Saxo Bank, and Capital Spreads.
​

Are there any major observations about their performances with FNT, please?

I'm attracted to Gekko for their free guaranteed stop loss, but would I have any need for it? I still have access to ETX charts through someone else's account but have no chance of opening an account with IG whilst living in Japan.

Any extra advice would be appreciated, thanks.

Ive always liked IGIndex... quick and simple and execute trades right away. and they have email alerts and apps for iPhone and Blackberry. Also note, they are one of the biggest and longest running Spread betting companies around. AND they do free seminars for beginners on trading and using their platform.