Richard Hill Forex Net Trap

Hi Peterf1966 - just wondered if you are using IG? Just been reviewing the detail of my trade and on my IG chart, the 6:15 bar high was 14934.5 so I set the order for 14939 at exactly 6:30 - however it then didn't execute until 6:38 when the price was 14942 therefore setting my take profit at 14992. It didn't close until I manually closed it at 8:30.

Would be interesting to see what others got here - I feel a little swindled out of the last 11 pips as I placed the order on time as instructed yet got different results....
 
OK - I have just answered my own question - because I have a Limited Risk account it automatically adds 3 on because I have a guaranteed stop - therefore although I set it to open at a certain level it will always be +/- 3 more. All in the small print :(
 
barnesan said:
OK - I have just answered my own question - because I have a Limited Risk account it automatically adds 3 on because I have a guaranteed stop - therefore although I set it to open at a certain level it will always be +/- 3 more. All in the small print :(
Click to expand...

I am using IG - make sure you set the chart to 'bid price', this is one thing that always comes up mid price, and doesn't get saved in your settings. Sure enough on mid price the 6.15 candle high was 14934.5.

The level did hit 14992 at 8.12 though - you might want to ask IG about that.
 
flinteng said:
Hi there,
I am relatively new to trading and have been spreadbetting / trading for about 6 months.
I hve recently read about a thing called "Richard Hill Forex Net Trap" that promises to show you a system to make moey on US$/£ trading with just 10-15 mins. early morning trading. They want to charge me £250 to sign up but what they do not tell me is how much deposit money I would need in my trading account to make £10-20 per pipp trades. I suspect I would need to have a large amount lodged to do this.
The promoter (Agora) ofers money back guarantee but not of coarse the money I loose.
Does anybody have any experience of this system?:D
Click to expand...

hi there,
I have just started trading this system over the last 3 weeks, and have made 50 pips per week on average sticking to their strategy religieously. Are you trading it now ?
 
Week 1: +13.5 pip profit
Week 2: -36.4 pip loss
Week 3: + 21 pips profit
Week 4: +83 pips
Week 5:
Mon 29/03: +50 pips
Tue 30/03: +30.5 pips
 
Hi all, ive been following this thread for a couple of weeks now with great interest which led me to buy Richards net trap. i've started trading his system on a demo account with alpari uk. made +50pips yesterday but -30pips today i did go against the system as i believed the GBP would struggle to break the $1.50 line of resistence.

does anyone draw trendlines to help confirmation of the trend as well as indicators like MACD and Stochastics?
 
Hi Dipak,

I follow the system pretty much exactly as how it is described in the book and am profitable so far, although i haven't made enough to pay the £250 I paid for the book, but i'm only using 50p stakes.

Why add extra things and complicate a system that is working (at the moment)?
 
dipakpatel said:
Hi all, ive been following this thread for a couple of weeks now with great interest which led me to buy Richards net trap. i've started trading his system on a demo account with alpari uk. made +50pips yesterday but -30pips today i did go against the system as i believed the GBP would struggle to break the $1.50 line of resistence.

does anyone draw trendlines to help confirmation of the trend as well as indicators like MACD and Stochastics?
Click to expand...

Hi dp my advice to you is send it back and get a refund - if you can't follow the system without fiddling with it - ye are doomed - doomed Ah tell ee!

:innocent:
 
thanks for the feedback rugytrader, your right i do agree with you, so i will just stick to the system, im just demo trading at the moment but im in two minds about which broker to go with Ig Index or Alpari UK? Alpari Uk provides a slightly better spread but only slightly, i do like the ease of IG Index and also the ability to close trades on their iphone platform. is everyone going with the broker Richard recommended?

Pseudo straddle - its true what you are saying if i am unable to follow the system then i guess i should get a refund, but i will from now be disciplined to follow only the system wiothout fiddling with it. i noted another +50 pips could have been achieved today?

it looks like the majority who are following the system to the tee are achieving consistant results
 
dipakpatel said:
thanks for the feedback rugytrader, your right i do agree with you, so i will just stick to the system, im just demo trading at the moment but im in two minds about which broker to go with Ig Index or Alpari UK? Alpari Uk provides a slightly better spread but only slightly, i do like the ease of IG Index and also the ability to close trades on their iphone platform. is everyone going with the broker Richard recommended?

Pseudo straddle - its true what you are saying if i am unable to follow the system then i guess i should get a refund, but i will from now be disciplined to follow only the system wiothout fiddling with it. i noted another +50 pips could have been achieved today?

it looks like the majority who are following the system to the tee are achieving consistant results
Click to expand...

If you do it through IG, your gains will be tax free. I think if you go through Alpari you will be liable for CGT on your net gains.
Somebody with more experience may be able to tell me if i'm right or wrong here.
 
dipakpatel said:
thanks for the feedback rugytrader, your right i do agree with you, so i will just stick to the system, im just demo trading at the moment but im in two minds about which broker to go with Ig Index or Alpari UK? Alpari Uk provides a slightly better spread but only slightly, i do like the ease of IG Index and also the ability to close trades on their iphone platform. is everyone going with the broker Richard recommended?

Pseudo straddle - its true what you are saying if i am unable to follow the system then i guess i should get a refund, but i will from now be disciplined to follow only the system wiothout fiddling with it. i noted another +50 pips could have been achieved today?

it looks like the majority who are following the system to the tee are achieving consistant results
Click to expand...

Hi Dipak,

Strictly speaking this morning the gain would be variable, depending upon exactly what time during the 8.30 candle you close. I got +36.5 pips this morning, others will be different, its always + or - a few pips, unless its an auto triggered stop loss or limit hit.

My experience so far, I started on 1st March

Week 1 +120 pips (a bit fortuitously tho, if you read back this thread)
Week 2 + 98.5 pips
Weeks 3 and 4 not trading due to clock changes
Week 5 Mon +50, Tue +36.5

So in all, I am happy with the system so far.
 
You guys should meet the garsworld forum.........its just as false a posting. Are you all working for agora!!!!!!!!!!
 
warrenwatts said:
You guys should meet the garsworld forum.........its just as false a posting. Are you all working for agora!!!!!!!!!!
Click to expand...

It is that obvious isn't it? ..Quite sad tbh, why doesn't the owner of the simple 2 bob strat. just pay for an ad on T2W, the 'kin minge bag...:sneaky: At first I thought live and let live etc...but this constant drip drip/insult to intelligence is getting right on my tits. I'd delete the thread if I was a mod...I'd have done it if I was still a forum guide and taken the slap on the wrist off LMQ...:p
 
If you really think I (and other people on this thread) am talking ****, just buy the system and paper-trade it, send it back before the trial period ends.
Let me know how it goes.
 
Last edited:
I, for one, really appreciate your posts. I do not understand the negative comments, and see no need for them.

Please continue to post your results.
 
Can anyone check to see if they have had a false trigger? I placed a order to open at 6.30am for 15085 rising on GBP/USD. It never reached this level but at some point around 7am it triggered. Has anyone else had this?
 
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