Richard Hill Forex Net Trap

[peterf1966]

PeterF1966 and I are good boys for ages now, we keep our stashes in our offset tracker mortgage accounts and just have enough in the trading account to cover the deposit needed. Was a pain on the recent bad week though for me as the tNT losses depleted the trading account and I was having to debit card extra funds in each morning as it had enough for the MNT trade but not enough for the NT trade. Panic to find my wallet @ 6.31am getting ever closer to the trap set amount.

NT drama!

M

Within the Virginone account I have I can set up virtual savings accounts - one of which is called net trap. The money in there, plus the money in my ETX and IG accounts adds up to my total bank, running total of the 3 accounts is recorded on my spreadsheet, and used to determine position size every day, based on 2% MM. It sounds more complex than it is, works well.

ETX let you bet in multiples of 10pence/pip, but IG lets you do weird amounts, once past 50p/pip, like £1.08 per pip, which allows an ultra strict following of the 2% risk rule.

Money in savings accounts is pointless if you also have a mortgage - offset to make your money work for you.

 

[gbdru2]

A nice down day with a little up at the end - just to make you think twice

 

[Wagtail]

short @32

 

[BigDunc]

Yeah, me too.

 

[Denman]

short @32

yep, and me.
Morning ALL

 

[everydaytrader]

Not confident today at all, have gone short but only risking 50p a pip.

 

[bombettor]

my order to sell at 5133 not yet hit

 

[Tanguero]

To me, somewhere around 1.5160 is more attractive to go short unless we are triggered earlier.

 

[Dubai]

Hi guys,

sorry to butt in on your thread but is this the same system as being trialled on the cash-master site?

 

[SA Trader]

So are we all in on the Short trade - mine is triggered..

 

[mark120169]

short @32

And were in :|

M

 

[Dubai]

I'm short also but not using NT. Interesting that 32 is a common entry point! I've got 1.5155 as a relatively safe stop.

 

[mark120169]

I'm short also but not using NT. Interesting that 32 is a common entry point! I've got 1.5155 as a relatively safe stop.

No you misunderstand ............this is the "how tall are you for you age thread" and Wagtail was born in 1978 but is only 4ft 11" tall, hence his comment, short @ 32.



M

 

[Dubai]

No you misunderstand ............this is the "how tall are you for you age thread" and Wagtail was born in 1978 but is only 4ft 11" tall, hence his comment, short @ 32.



M

At least you can laugh at your own jokes cos that was utter pants.

What is your target?

 

[Tanguero]

Out and went long @ 15129.6. Big buyers are stepping in.

 

[paulhayes57]

Out and went long @ 15129.6. Big buyers are stepping in.

interesting what brings you to that conclusion tanguero ?
paul

 

[mark120169]

interesting what brings you to that conclusion tanguero ?
paul

He can see the screen of the 6ft 6" 18 stone forex trader accross the room from his office. That guy is buying.

M

 

[Tanguero]

He can see the screen of the 6ft 6" 18 stone forex trader accross the room from his office. That guy is buying.

M

I wish I could!
I track volume on FX Club's charts.

 

[Dubai]

Volume isn't actually measureable in terms of Forex. The best indication of volume is to look at the futures.

 

[gbdru2]

its always a nice surprise to come back and see a red candle....