peterf1966
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Dont worry, just type in the order level you want, and it should change to stop.
This morning, I'm not trading due to this hours time change thing - and a good thing, would have been -30.
peterf1966
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Hi
Thanks for that. You mention you would have been down -30 on the 15th. I placed a test order with 10p pip just to test out the execution - I'm +18 !? I don't get it - maybe I accidentally implemented the strategy in reverse!?
The system would have had you place a sell order at 6.30 at a level of 15153, which would hae meant a stop loss at 15183 - which it rose to just befre 7am.
Ambrose Ackroyd
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Don't forget to take account of the cost of the system purchase.
I've been test-trading this for a couple of weeks on FXCM and made a profit. Today I started trading live for the first time on IG - but just using 10p stakes because of the time difference issue. I opened the sell stop order at 15153 at 6:30 but then manually closed it 16 pips in profit at 8:30 - no stop loss was hit. Maybe the trade didn't trigger until after 7am which is why it worked?
I'm now looking for other methods to trade alongside this one to balance some risk / potentially make some more returns. I've seen a few ads for an 'after work' system - has anyone tried anything similar?
Hi Barnesan
I placed my very first trade today, and like you report no stop loss appears to have been hit. The charts dived sometime after 7 and I made a +18 profit. I'm a total newbie to this, but like yourself am researching alternative strategies in order to spread risk - I don't want to be a 'one trick pony!'
I've also read that it makes sense to go for smaller profit targets, from a purely psychological perspective.... If over time, with a bag of strategies, I could make £50 a day, that would be great!
I placed my very first trade today, and like you report no stop loss appears to have been hit. The charts dived sometime after 7 and I made a +18 profit. I'm a total newbie to this, but like yourself am researching alternative strategies in order to spread risk - I don't want to be a 'one trick pony!'
I've also read that it makes sense to go for smaller profit targets, from a purely psychological perspective.... If over time, with a bag of strategies, I could make £50 a day, that would be great!
peterf1966
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Sorry, Discard my earlier post - the level did not hit 15153 until it was on its way down at about 8am, so Winner man and Barnscan are right.
If the clock went forward in America, then wouldn't the opening time of 6.30 now be 7.30? Going from 7.30 till 9.30 would have been a +50 today...??
If the clock went forward in America, then wouldn't the opening time of 6.30 now be 7.30? Going from 7.30 till 9.30 would have been a +50 today...??
I guess the problem is also that the overall time difference has decreased by an hour as we haven't moved in the UK. So maybe in fact the timeframe should be 7:30-8:30?? Not sure!
peterf1966
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agreed, slight upward trend then heading down, no trade.
pseudo straddle
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Could someone explain to me - why are you bothered about a temporary time difference between the US of A and the UK? What matters is the perceived opening time of the London session surely!
Could someone explain to me - why are you bothered about a temporary time difference between the US of A and the UK? What matters is the perceived opening time of the London session surely!
Good Evening. As you know, NetTrap is a time sensitive trading system. It uses a specific momentum between 6:30 - 8:30. GBP/USD' major players are obviously British and American. Then suddenly all American dealers start trading in one hour early. Obviously the momentum would be distorted.
Then, the Nettrap may not fit to this irregularity - this is my understanding, but I am also curious too. It may not be affect as we might think or Euro volatility (coming back again ?) would be more influential etc. I heard that NetTrap did not work very much around Christmas / New year time as most dealers were off. It is really human behaviours involved.
I might continue to my bet to absolutely minimum (.50 pence ?) or see the chart only without trading. The things I have started to learn is that non trading is a good trading discipline too. No point to take a risk now. Richard did not recommend trading although he seems to continue with a smaller position (for his duty ?)
B
Black Swan
Have you guys made any comparisons whether the system only works in a bullish or bearish market? It's a very common fault with *coin-flipping* systems...
peterf1966
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Intresting comments, I have not traded under the system this week, and not checked the figures to see if it has worked or not, on Monday there were reports of +18?
Last two weeks it worked on long or short trades, as long as there is a clear trend at 6.30. If the inventor of the system advises no trade or min stakes for 2 weeks I won't argue, it might involve a number of factors we don't know, not just the 1 hour?
Last two weeks it worked on long or short trades, as long as there is a clear trend at 6.30. If the inventor of the system advises no trade or min stakes for 2 weeks I won't argue, it might involve a number of factors we don't know, not just the 1 hour?
Yes, Monday made profit. Tuesday was a no trade day. I didn't trade Wednesday or Thursday but looking at the charts I think one was a no trade and one was a -30. I did trade today and it was a -30 so overall a losing week. I'm only trading with £0.10 stakes so not too bad but I think I will give next week a miss and try and do some more studying. Definitely want to look more at Black Swan's comment and do some plotting on the historical success / failure vs. bullish / bearish market correlation. Anyone else looked at this yet?
I'm currently feeling overloaded by the amount of info out there vs. the small amount of time I have each week and just trying to put my time in the right places! I like Net Trap because with a small amount of time each week I can be 'in the market' while learning in parallel but at the same time using a system without fully understanding all the nuances of what makes it succeed / fail is frustrating!
Will share any findings I make on the above correlation.
I'm currently feeling overloaded by the amount of info out there vs. the small amount of time I have each week and just trying to put my time in the right places! I like Net Trap because with a small amount of time each week I can be 'in the market' while learning in parallel but at the same time using a system without fully understanding all the nuances of what makes it succeed / fail is frustrating!
Will share any findings I make on the above correlation.
