Yes, it was one of those trades that went against my instincts with strong resistance at 600... BTW if you had split 75/25 (75p / 25p) the loss would still be the same as NT @ £1... Or did you mean as opposed to £3 / £1 (back to 2% exposure instead of 4%)?
Yes, it was one of those trades that went against my instincts with strong resistance at 600... BTW if you had split 75/25 (75p / 25p) the loss would still be the same as NT @ £1... Or did you mean as opposed to £3 / £1 (back to 2% exposure instead of 4%)?
peterf1966
Experienced member
- Messages
- 1,252
- Likes
- 2
No I am an NT purist! MNT is too hard to prove to me: with R/R 3/1, you have to have to backtest it for a three times longer period than a system even with a 1/1 ratio to know what's the possible drawdown. And, as today's experience shows it, you also have to factor in slippage, which becomes a big deal with a target of 10p.
I am still in as the low was 1.4559 and my stop is 14551.2
mark120169
Senior member
- Messages
- 3,116
- Likes
- 20
Unfortunately way over the IG index learning limit time, so my min bet on the plus account is 50p.
So ATM I have two options , gamble 4% MM with 75/25 (1.50/50p) or stick to 2% MM and go 50/50 (50p/50p).
This is just one big learning curve for me May and June, have £4.5k in defensive shares still doing ok in the recent market but plan to sell them in July and progress to £6k pot, so then will just stick to TNT 75/25 (£3/£1) 2% MM.
As long as TNT roughly tracks NT and throws out my 25 pips a week + average I will be quite happy.
M
Yes it is not good - especially when ETX suffers no such slippage...
langmeadman
Junior member
- Messages
- 47
- Likes
- 0
Very frustrating morning: went just 2 pips below the stop.... thats life I suppose.
Frustrating for me too. Went for a 33 stop on NT and 30 stop on MNT.
Subsequently got stopped out on the MNT, but NT (due to the extra 3 pip stop) reversed to a high of +27. In hindsight, should have had the stops equal and would have made a profit today thanks to the MNT. The NT trade with the bigger stop ended up breakeven.
All in all a nett loss of 45 pips.
EDIT: meant a loss of 22 pips.
Subsequently got stopped out on the MNT, but NT (due to the extra 3 pip stop) reversed to a high of +27. In hindsight, should have had the stops equal and would have made a profit today thanks to the MNT. The NT trade with the bigger stop ended up breakeven.
All in all a nett loss of 45 pips.
EDIT: meant a loss of 22 pips.
Hi -attempting to be constructive here- it appears some of you were late to the party
this morning -timing is everything and sticking rigidly to the in at 6.30 and out at
8.30 could be costing you. More by good luck than good management I entered at 06.29
ordered 14575 and got 14578 this meant I was not stopped out and because I was following this mornings rather 'rocky' ride I left on the 08.00 candle at 14599 , 21 pips to the good
had I stayed in getting out at 08.30 would have netted around 7-8 pips.
MNT also did the business in and out real quick-nice one!
I suppose I'm suggesting that getting your ticket ready to submit a little bit earlier and then just watching the price action to time pressing the submit button ,might gain those extra few pips that just could make the difference ,any small adjustment to improve your
odds has got to be worthwhile . I appreciate that net trap is designed to fit around the morning rush hour and is supposed to be 'set and forget' , but bending the rules just a little can make a difference in your favour .
this morning -timing is everything and sticking rigidly to the in at 6.30 and out at
8.30 could be costing you. More by good luck than good management I entered at 06.29
ordered 14575 and got 14578 this meant I was not stopped out and because I was following this mornings rather 'rocky' ride I left on the 08.00 candle at 14599 , 21 pips to the good
had I stayed in getting out at 08.30 would have netted around 7-8 pips.
MNT also did the business in and out real quick-nice one!
I suppose I'm suggesting that getting your ticket ready to submit a little bit earlier and then just watching the price action to time pressing the submit button ,might gain those extra few pips that just could make the difference ,any small adjustment to improve your
odds has got to be worthwhile . I appreciate that net trap is designed to fit around the morning rush hour and is supposed to be 'set and forget' , but bending the rules just a little can make a difference in your favour .
Rugby Trader
Established member
- Messages
- 951
- Likes
- 12
Hi -attempting to be constructive here- it appears some of you were late to the party
this morning -timing is everything and sticking rigidly to the in at 6.30 and out at
8.30 could be costing you. More by good luck than good management I entered at 06.29
ordered 14575 and got 14578 this meant I was not stopped out and because I was following this mornings rather 'rocky' ride I left on the 08.00 candle at 14599 , 21 pips to the good
had I stayed in getting out at 08.30 would have netted around 7-8 pips.
MNT also did the business in and out real quick-nice one!
I suppose I'm suggesting that getting your ticket ready to submit a little bit earlier and then just watching the price action to time pressing the submit button ,might gain those extra few pips that just could make the difference ,any small adjustment to improve your
odds has got to be worthwhile . I appreciate that net trap is designed to fit around the morning rush hour and is supposed to be 'set and forget' , but bending the rules just a little can make a difference in your favour .
Claviceps, how did you come to the entry figure of 14575?
The correct entry figure was 14591 (although I was slipped to 14595)
your incorrect entry is what stopped you from getting stopped out this morning.
mark120169
Senior member
- Messages
- 3,116
- Likes
- 20
Mini Net trap MNT max stopped out today.
June TD +0 (Wins x 6 +60 loss x 2 -60)
M
p.s For those that could have avoided Mondays unfortunate loss MNT would be +30 for June to date.
June TD +0 (Wins x 6 +60 loss x 2 -60)
M
p.s For those that could have avoided Mondays unfortunate loss MNT would be +30 for June to date.
Last edited:
pseudo straddle
Well-known member
- Messages
- 309
- Likes
- 9
Yes Rugby - he doesn't play by the rules -
Perhaps today he entered at market when the 815 candle was finishing.
I'm still puzzled by how he got his +50 yesterday so quickly!
Perhaps he did the same yesterday - that would explain it.
Last edited:
That's odd. I went in at 14580, thinking that I had followed the rules. Looking back I think I accidentally based this on the candle's opening price, not as per the rules. Ended a lucky +4 pips after getting back to computer late too. Beginner's luck for a second day in a row?
A good question- and a polite way of asking am I breaking all the rules! My entry was
according to Net Trap and as you point out incorrect . Net Trap tells us to take the top of the 6.15-6.30 candle add our spead and use that to place the order ,another rule I have been breaking .Whilst I understand that placing the order as per Richards guide
can act as a safety net on occaisions ,and had the 6.15 candle been heading north
that is exactly what I would have done ,on this occaision the candle was heading south
and as we were looking to go long it was going to be to my advantage to get the lowest entry point I could -hence my entry at 14578-my apologies for not having mention this further breach of the rules in my earlier post- just did it without thinking about it
Good thinking, Biceps. I had the same idea on the basis of Elliot's wave count; how did you come up with yours?on this occaision the candle was heading south
and as we were looking to go long it was going to be to my advantage to get the lowest entry point I could -hence my entry at 14578-my apologies for not having mention this further breach of the rules in my earlier post- just did it without thinking about it
peterf1966
Experienced member
- Messages
- 1,252
- Likes
- 2
Well how about this for luck.:clap:
After the slippage on IG, I changed the stop back by 4pips, and the target. Sure enough, still stopped out, for -34. at a quid a pip, down £34.
But groggily this morning I also changed my stop on the ETX, to -4 as well, and as that hadn't slipped, I didn't need to, but forgot this.
Once I'd woken up a bit more I realised, and went to change it, but saw we were on about -20, so I left it alone, infact I had clicked an extra point so my ETX stop was set at -35 - free betting remember..
So on ETX, I didn't get stopped, and as I went to leave the laptop to feed the dog and cat and meself, I upped the target to break even at +17 on MNT which I was doing at £2/pip.
I didn't hold much hope, given the resistance at 602ish, but sure enough, come back half hour later and bingo, position closed, no slips and I'm out for break even on the day.
Very Lucky that, and only because of the ETX offer did I try it.
Does show the limitations of TNT though, if you go 75/25, where as 50/50, would give you same loss, and a ten point win on MNT would just cushion the blow if NT reversed to -30.
Once my ETX saftey net goes, I will have to think about TNT...but one thing I know - I am definitely dumping IG, ETX just seems to work better, with a fast execution, and no slips when IG has done.
After the slippage on IG, I changed the stop back by 4pips, and the target. Sure enough, still stopped out, for -34. at a quid a pip, down £34.
But groggily this morning I also changed my stop on the ETX, to -4 as well, and as that hadn't slipped, I didn't need to, but forgot this.
Once I'd woken up a bit more I realised, and went to change it, but saw we were on about -20, so I left it alone, infact I had clicked an extra point so my ETX stop was set at -35 - free betting remember..
So on ETX, I didn't get stopped, and as I went to leave the laptop to feed the dog and cat and meself, I upped the target to break even at +17 on MNT which I was doing at £2/pip.
I didn't hold much hope, given the resistance at 602ish, but sure enough, come back half hour later and bingo, position closed, no slips and I'm out for break even on the day.
Very Lucky that, and only because of the ETX offer did I try it
.Does show the limitations of TNT though, if you go 75/25, where as 50/50, would give you same loss, and a ten point win on MNT would just cushion the blow if NT reversed to -30.
Once my ETX saftey net goes, I will have to think about TNT...but one thing I know - I am definitely dumping IG, ETX just seems to work better, with a fast execution, and no slips when IG has done.
stevepatt
Well-known member
- Messages
- 405
- Likes
- 4
Who's to say it's an incorrect entry when you walk away with a profit, it might not be following the Net Trap to the letter but some times that's what it takes.
Just my opinion, but, any system should only be used as guidance and not think of its rules as set in stone you should be using your own brain, as well as the system, to judge when to enter or exit a trade.
