Richard Hill Forex Net Trap

[bombettor]

-30 pips today !

 

[mark120169]

Are you all out - for a 30pip loss ?

Aye.....-30 for me too, looks like this is going to be one of those bounce around 20 pips either side of a resistance line day. Maybe 14700 is the stumbling block?

M

 

[gav2e]

Went out for a bit, just got back to see I was stopped out at 07:32 for -30 pips. Support at 14700 , wider stop would have saved it but that's not the rules.

 

[peterf1966]

Mark,

I actually had my order to open set 30 seconds before the close of 6.15-6.30 at 14735.9, thats a 3.1 move slippage. I think this is due to the vast number of people all entering at the same time and price who are using Net Trap. i got executed spot on using my other broker. Cant complain, doesnt always happen

Apprently not according to Alex on here, IG's system can handle the multiple trades, it's when the market is moving quickly that the slippage happens - worst Ive seen it so far, at +3pips. Accademic today of course! First day at £1/pip, had to happen!

 

[n15ksh]

Apprently not according to Alex on here, IG's system can handle the multiple trades, it's when the market is moving quickly that the slippage happens - worst Ive seen it so far, at +3pips. Accademic today of course! First day at £1/pip, had to happen!

Yeah i see your point, i saw my order sitting there waiting even though the price had gone pass the open to order price so you have just missed it with the market moving fast.

avg a month for the last 7 or so months for me has been around 100pips, i look at it on a weekly but more importnatly on a monthly basis for performance review

 

[peterf1966]

.

avg a month for the last 7 or so months for me has been around 100pips, i look at it on a weekly but more importnatly on a monthly basis for performance review

Ive got 450 pips since 1st March, some of them have been slighly outside the rules though,from fortunate mistakes by me, and the dabble round the time of the election. So 150 average, but I can see it settling to 100 or so.

 

[alexgroom]

Ive got 450 pips since 1st March, some of them have been slighly outside the rules though,from fortunate mistakes by me, and the dabble round the time of the election. So 150 average, but I can see it settling to 100 or so.

The only other factor that might impact on the price you get dealt at is liquidity. From 9.30pm to 7am sometimes trades get referred through to their dealing desk before they get processed as IG have to ensure they are able to accept this level of exposure. I am told by IG that only trades on the GBP/USD greater than £150 per point between 9.30pm and 7am would be impacted in this way and from 7am it should only be on trades from£300 per point. Something to bear in mind for the future when Net Trap makes us all rich. This time next year Rodney......

 

[Trader333]

The only other factor that might impact on the price you get dealt at is liquidity. From 9.30pm to 7am sometimes trades get referred through to their dealing desk before they get processed as IG have to ensure they are able to accept this level of exposure

That is not what IG have told me and especially for small traders. They don't hedge any of the smaller positions that are taken or worry about exposure.


Paul

 

[alexgroom]

That is not what IG have told me and especially for small traders. They don't hedge any of the smaller positions that are taken or worry about exposure.


Paul

Hi Paul

Agreed not for smaller positions but only on trades greater than £150 per point prior to 7am should be affected. I have been told that prior to 7am that if I am betting say £200 per point to break the trade into 2 seperate trades of £50 and £150 to prevent the trade from getting referred and thereby missing my desired entry price.....

 

[Denman]

Hello All. I couldn't work it out this morning as, to my eyes, it wasn't a clear-cut trade. And as I didn't have the manual with me I decided to not play. So, in hindsight, were we supposed to play as I want to go strictly by the rules.
Good luck All

 

[Eaststandjack]

Hi All newbie here bought the system and waiting for it to arrive, any tips?

 

[mark120169]

The only other factor that might impact on the price you get dealt at is liquidity. From 9.30pm to 7am sometimes trades get referred through to their dealing desk before they get processed as IG have to ensure they are able to accept this level of exposure. I am told by IG that only trades on the GBP/USD greater than £150 per point between 9.30pm and 7am would be impacted in this way and from 7am it should only be on trades from£300 per point. Something to bear in mind for the future when Net Trap makes us all rich. This time next year Rodney......

£300 a point......fook that, that would be a remortgage in one morning @ -30 pips

Even using Peters and Toshi's stake bid up system we would be dead before we hit £300 a pip, mostly by stress i reckon! Either that or it would take so long we would be "thinking" our trades into the computer chip under our skin, and chuckling to ourselves what a **** thinf the ipad was back in the old days

M

 

[missionary]

Denman, it was clear cut, if it helps then write down a list of all the MA's from 4.00. Today they went straight up from 14675 at 4.00 to 14680. A rise of 5 and the system requires a rise of 2 (conversely a fall of 2 if the market is falling).

But it was still a losing trade !

cheers

mish

 

[Eaststandjack]

Is there a better trading platform to use with this ive got a capital spreads one will that be ok

 

[BigBrassBalls]

£300 a point......fook that, that would be a remortgage in one morning @ -30 pips

Even using Peters and Toshi's stake bid up system we would be dead before we hit £300 a pip, mostly by stress i reckon! Either that or it would take so long we would be "thinking" our trades into the computer chip under our skin, and chuckling to ourselves what a **** thinf the ipad was back in the old days

M

That would be -£9000 today! We'll all be there in a year or two :cheesy:

 

[gav2e]

Is there a better trading platform to use with this ive got a capital spreads one will that be ok

Capital Spreads will be fine, I use them with this system. Spread is tighter, 2 pips, for GBPUSD whereas it's 3 pips on IG. Most people are using IG with net trap judging from the postings here, plus Richard Hill recommends IG as the platform to start with because you can trade as low as 10p a pip then build up as confidence/competence improves. Capital Spreads however is minimum £1 per point.

 

[Eaststandjack]

Capital Spreads will be fine, I use them with this system. Spread is tighter, 2 pips, for GBPUSD whereas it's 3 pips on IG. Most people are using IG with net trap judging from the postings here, plus Richard Hill recommends IG as the platform to start with because you can trade as low as 10p a pip then build up as confidence/competence improves. Capital Spreads however is minimum £1 per point.

Cheers gav2e £1 a point is fine and im use to Capital Spreads.
One question what time do you have be in front of your computer in the morning to be ready for the trade

 

[Melb]

That would be -£9000 today! We'll all be there in a year or two :cheesy:

Paradoxically I would not mind that because it would mean my trading account was worthy of cushioning that loss Now at 2% - That would put my trading account at £450,000 - Yes I could I think I could cope with that

 

[gav2e]

Cheers gav2e £1 a point is fine and im use to Capital Spreads.
One question what time do you have be in front of your computer in the morning to be ready for the trade

6.30am UK time. I live in Cyprus so it's 8.30am for me. works well for me

 

[BigBrassBalls]

Paradoxically I would not mind that because it would mean my trading account was worthy of cushioning that loss Now at 2% - That would put my trading account at £450,000 - Yes I could I think I could cope with that

Oh yes!