Richard Hill Forex Net Trap

[peterf1966]

Mon-Fri oops

Actually on IG charts it's 21.00 Sunday to about 10pm Friday.

The R3 level hit after 9.45, now not too far from R4. Trying a small position size if we get back to 15140, a long back to about 15175? See if it bounces off R4.😉

Net trap short was right this morning, but it happened just too late to trigger it.

 

[mark120169]

Actually on IG charts it's 21.00 Sunday to about 10pm Friday.

QUOTE]

This is the last weekly figure correct? I use the previous last full trading daily figure. Sunday figures are always just a few hours so not accurate it seems, hence I used Fridays figures to set the CAM points.

I just set the NT chart to daily and read the candle data, guess you could also set ti to weekly and do the same if you want to use weekly figures.

M

 

[peterf1966]

Actually on IG charts it's 21.00 Sunday to about 10pm Friday.

QUOTE]

This is the last weekly figure correct? I use the previous last full trading daily figure. Sunday figures are always just a few hours so not accurate it seems, hence I used Fridays figures to set the CAM points.

I just set the NT chart to daily and read the candle data, guess you could also set ti to weekly and do the same if you want to use weekly figures.

M

Would assume it is last week in the figures, unless something dramatic happened in the late hours of Sunday, the HCL values wouldn't be much different.
My R4 point just hit, and the first green 1/4 hour candle since 8.00, get in!

Edit.nah, nowt much doing really, an effect of no US opening I suppose.

 

[pips ahoy!]

Hi all,

I've just recieved RH's weekly update email...but with data for Mon 21st to Fri 25th instead of from last week!

Anyone else in the same boat?

 

[Claviceps]

Hi all,

I've just recieved RH's weekly update email...but with data for Mon 21st to Fri 25th instead of from last week!

Anyone else in the same boat?

Yup -just emailed them and asked for the correct set of results - numpties!

 

[everydaytrader]

Hi all,

I've just recieved RH's weekly update email...but with data for Mon 21st to Fri 25th instead of from last week!

Anyone else in the same boat?

Yes, but just recieved a corrected version.

 

[mark120169]

Hi all,

I've just recieved RH's weekly update email...but with data for Mon 21st to Fri 25th instead of from last week!

Anyone else in the same boat?

Not had anything yet. Still waiting for the above from last week! I think they are completely screwed up there.

M

 

[peterf1966]

Not had anything yet. Still waiting for the above from last week! I think they are completely screwed up there.

M

Got my correction---you're in the dog house! 😛

 

[rob the bank]

RH maintains that the loss for June was -80 so here are the updated results.

Net Trap Results July to December 2009
July +410
August +257
September +120
October +56
November +221
December +12
Total +1076 Pips
Trade Days 126
Pips gain per day 8.5
Trading @ £2/point (Bank required £3K) ROI / Gain = £2,152 (71.7%)
Trading @ £10/point (Bank required £15K) ROI / Gain = £10,760

Net Trap Results January to June 2010
January +125
February -29
March +154
April +139
May +37
June -80
Total +346 Pips
Trade Days 104
Pips gain per day 3.3
Trading @ £2/point (Bank required £3K) ROI / Gain = £692 (23.6%)
Trading @ £10/point (Bank required £15K) ROI / Gain = £3,460
ROI = Return on Investment

 

[rob the bank]

A day trader following a reasonable scalping strategy would achieve 20 to 30pips per day.

20pips/day x 104 days @ £2 / point = £4,160

30pips/day x 104 days @ £2 / point = £6,240

 

[Hogs]

A day trader following a reasonable scalping strategy would achieve 20 to 30pips per day.

20pips/day x 104 days @ £2 / point = £4,160

30pips/day x 104 days @ £2 / point = £6,240

Hi Rob,

what "reasonable" scalping strategy would that be? If there is a strategy that gives me a (consistent) 20 to 30 pips per day, I want to know about it please!

Not having a go (well, ok - maybe a little bit). But would like to know what strat you are referring to which gives these sort of profits.

Cheers,

H.

 

[pboyles]

A day trader following a reasonable scalping strategy would achieve 20 to 30pips per day.

20pips/day x 104 days @ £2 / point = £4,160

30pips/day x 104 days @ £2 / point = £6,240

So why are you not doing that instead of wasting your time on some $300 piece of junk software?

 

[gbdru2]

LOL. 😆 I didn't even know what CAM's or pivot points where until 2 weeks ago, you forget this is just my 8th week trading Forex or Spreadbetting!

I used this tool MikesDirect posted the week before last, just bookmark it so you can use it. As suggested by Mike I use the previous days High, Low and Close, so today I used Fridays figures.

http://www.earnforex.com/pivot-points-calculator

M

ok, well if you want I have the code for an indicator rather than an xls. it'll show up on your advanced charts...

Gt a slight technical hitch with Sundays at the mo.. lines go a bit narrow

 

[Tanguero]

I remember when studying sample charts in the Bible, one looked very dodgy to me but a valid trade according to the Book. I reckon RH's logic whether to call a weak signal a trigger or not is the MA action during the preceding day - if the signal is in the same direction, it's valid, if not - stay out. Simple. Statistically, a pro-trend bias gives you a 10% edge, let's say a weak signal gives you a further 3-5%, so your chances are up to 2/3 against 1/3 if you follow this strategy.

 

[Tanguero]

ok, well if you want I have the code for an indicator rather than an xls. it'll show up on your advanced charts...

Gt a slight technical hitch with Sundays at the mo.. lines go a bit narrow

That will be great and a nice addition to the UDF indicator!

 

[peterf1966]

That will be great and a nice addition to the UDF indicator!

For us not quite so gifted at this, can you do a step by step of applying the code to the chart? I looked at the code on the SFT forum, but just can't quite get where you add the code so it shows on the chart.

 

[peterf1966]

A day trader following a reasonable scalping strategy would achieve 20 to 30pips per day.

20pips/day x 104 days @ £2 / point = £4,160

30pips/day x 104 days @ £2 / point = £6,240

Do scalp traders work just 2 days a week then?

 

[BigDunc]

Do scalp traders work just 2 days a week then?

These are probably year to date figures. Don't worry, took me a while to work it out too.

 

[Wagtail]

A day trader following a reasonable scalping strategy would achieve 20 to 30pips per day.

20pips/day x 104 days @ £2 / point = £4,160

30pips/day x 104 days @ £2 / point = £6,240

If a "reasonable" scalp strat gets 20-30 pips per day, I'm going to hold out for a "good" scalp strat as this will probably average 40-50 pips per day. Then this time next year, I'll be a millionaire, Rodders...🙂

 

[mark120169]

Got my correction---you're in the dog house! 😛

Yes it appears so. Just got back from being out and still no update, that's two weeks worth now missing!

Another chasing email to be sent...again!

Anyone else missing the last two weekly updates? Getting parinoid now!

M