Richard Hill Forex Net Trap

[wendy12345]

I have been using Net Trap since Jan and have made over 50 pipis a month on average (including silly mistakes and two days lost due to work which of course should have made a profit!) I close it at 8.15 which may make the results worse, but for a few minutes work 50+ pips a month isn't bad! Its v v simple to use (I had never traded before) and I have been incredibly impressed with it. Do keep checking his updates by email though as even 4 months in I'm learning minor points from cross checking every trade. See review on 'systems for traders' website which like all thier reviews is v good.

 

[BigBrassBalls]

The last couple of days were my first few attempts using this system, not the best time to start though with how volatile the market has been! Luckily i've made a few pips, although my order to sell didn't trigger this morning (@ 14600), i did however gamble and opened an order @ 14715 to sell as soon as i noticed the massive difference which payed off. Had to cancel my original order in work then which still hadn't triggered at 09:00.

 

[peterf1966]

I think the election would have meant a lot of people getting up late this morning!

morning
Opposite for me, was up early, umming and arring about whether to dive in and sell during the bloodbath, thinking 'surely it cant go any lower'.

 

[dsinclair999]

dsinclair999 - why did you trade today and how did your trade excute yesterday. today should not have been a trade?

Hey n15ksh,
I traded today as the trend was going down, albeit slowly and only one candle going up, at least on my chart with Capital Spreads!
Yesterday was a loser -30 pips.

Regards
DS

 

[n15ksh]

Hey n15ksh,
I traded today as the trend was going down, albeit slowly and only one candle going up, at least on my chart with Capital Spreads!
Yesterday was a loser -30 pips.

Regards
DS

Hi dsinclair and all those that attempted to trade Net Trap yesterday. Again going back to the quote above. From looking at each candle from 4.00am, the inital trend was down on the MA:
4:00 - 14842.2
4:15 - 14840.4
4:30 - 14839.4
4:45 - 14839.2
Then we saw three MA up trend
5:00 - 14840.3
5:15 - 14840.4
5:30 - 14840.7
Reversing again
5:45 - 14839.9
6:00 - 14838.2
6:15 - 14832.8

According to Richard Hill, if 3 MA's go in the opposite direction then its no trade.

Sorry im not trying to be rude or anything, but simply trying to understand why we are all doing different things if we are all following the same system?

Thanks

 

[n15ksh]

Dsinclair, sorry i just read your quote again and noticed you mentioned capital spreads. I have an account with them too, i notice that they don’t show you the true MA e.g. you only see 14838 instead of 14838.2, with IG i use the number after the decimal to determine the movement of MA. I notice with capital spreads your are more likely to get same MA on several candles thus cancelling them out if the movement is not significant enough.

I’m not sure what product is of advantage here, but even when i trade on capital spreads i actually use the indicators from IG to help me determine the trade signal

 

[OldNick]

I have been using Net Trap since Jan and have made over 50 pipis a month on average (including silly mistakes and two days lost due to work which of course should have made a profit!) I close it at 8.15 which may make the results worse, but for a few minutes work 50+ pips a month isn't bad! Its v v simple to use (I had never traded before) and I have been incredibly impressed with it. Do keep checking his updates by email though as even 4 months in I'm learning minor points from cross checking every trade. See review on 'systems for traders' website which like all thier reviews is v good.

Hi. I haven't bought Net Trap (yet) but I believe it uses a 30 pip stop loss and 50 pip target. If so then your average 50 pips profit a month doesn't sound much, basically a net gain of one successful target trigger over and above the losses. Mind you, if it truly proves to be consistent then it yields 3.3 % return per month, assuming a trading bank of 50x your max loss size of 30 pips. Looked at that way, 40% per annum sounds very nice for 10 minutes work per day. I might well be tempted, as it sounds like a good intro to the world of Forex.

 

[dsinclair999]

Dsinclair, sorry i just read your quote again and noticed you mentioned capital spreads. I have an account with them too, i notice that they don’t show you the true MA e.g. you only see 14838 instead of 14838.2, with IG i use the number after the decimal to determine the movement of MA. I notice with capital spreads your are more likely to get same MA on several candles thus cancelling them out if the movement is not significant enough.

I’m not sure what product is of advantage here, but even when i trade on capital spreads i actually use the indicators from IG to help me determine the trade signal

Thanks for the feedback n15ksh, much appreciated
Interesting the difference between the charts, I think I'll download something else to compare, maybe try MT4.

Cheers
DS

 

[fxsilverlining]

Hi Toshi,

Are you still profiting with the system?

Regards
Vidda

dsinclair999

Your results are quite different from Official ones. (I have got+31 pips today, something wrong ?) have you checked a weekly report ?

here is official one:

Jan +125 pips (-19, + 37, + 117, -10)
Feb -29 pips (+14, -31, -23, +10) but some lucky people would have got + 51 pips
March + 154 pips (-4, + 41, +88, NA, NA, +43) NA
April (+43



Yes, completely agree. I have reached this conclusion after 3 months. No excitement, complexity and emotional detachment. I finally become a robot system operator. The trade system even does not ask me to be an ambitious trader at all. (Yes, you can be, but this is nothing to do with the system itself, but your ambition is more likely to control or more precisely distort the system )



Just a Agora' marketing rotation policy I wonder. Even The NetTrap does not require Richard's faith, if works, it will work. ha ha ha.

 

[Rugby Trader]

Hi dsinclair and all those that attempted to trade Net Trap yesterday. Again going back to the quote above. From looking at each candle from 4.00am, the inital trend was down on the MA:
4:00 - 14842.2
4:15 - 14840.4
4:30 - 14839.4
4:45 - 14839.2
Then we saw three MA up trend
5:00 - 14840.3
5:15 - 14840.4
5:30 - 14840.7
Reversing again
5:45 - 14839.9
6:00 - 14838.2
6:15 - 14832.8

According to Richard Hill, if 3 MA's go in the opposite direction then its no trade.

Sorry im not trying to be rude or anything, but simply trying to understand why we are all doing different things if we are all following the same system?

Thanks

N15ksh,

When I first got the system I emailed Richard about the decimal points as I didn't feel it was to clear in the manual, he said you should just round them off so you only have a five figure number.

 

[pseudo straddle]

Hi dsinclair and all those that attempted to trade Net Trap yesterday. Again going back to the quote above. From looking at each candle from 4.00am, the inital trend was down on the MA:
4:00 - 14842.2
4:15 - 14840.4
4:30 - 14839.4
4:45 - 14839.2
Then we saw three MA up trend
5:00 - 14840.3
5:15 - 14840.4
5:30 - 14840.7
Reversing again
5:45 - 14839.9
6:00 - 14838.2
6:15 - 14832.8

According to Richard Hill, if 3 MA's go in the opposite direction then its no trade.

Sorry im not trying to be rude or anything, but simply trying to understand why we are all doing different things if we are all following the same system?

Thanks

Hi n15ksh - you seem to be using the mid price and not the bid price which shouldn't make a difference to the slope of the MA - but it will make a difference to your entry and exit points - I think!

 

[bombettor]

In the trade today, Long GBPUSD @ 1.4880

 

[bombettor]

Stop Loss hit again. -30 pips
-90 pips since I started trading this system.
Why is that the moment I start following signal service / trading system, it hits a losing streak?

 

[geoff39]

Murphy's Law I guess unfortunately regarding starting with a losing streak. I also got stopped out today after going long at 1.4882

Has anyone back-tested this system over a number of years or do people think it is just something that is more transient and is only likely to work for a short period of time?

 

[pssonice]

Back Testing in Forex: Why It Doesn’t Work

http://www.moneyshow.com/printpage.asp?aid=currency-19374
"The basic reason behind the uselessness of back testing is very simple. It is not possible to devise a forex strategy on the basis of a piece of market data and then apply it blindly to another time period with the unjustified hope that it will function there equally well. "

 

[pssonice]

How Do I Test My Forex Strategy?

The best way of testing a forex strategy is trading it.

 

[peterf1966]

-30 also...we are in strange times with Greece and the election fallout, so I'm thinking of having the rest of the week off - any thoughts, am I being too pessimistic?

 

[wendy12345]

I agree, the only negative month I have had with Net Trap was Feb (when the whole Greece thing blew up) and Richard Hill advises caution when things are really volatile. I go by the rule that if forex stuff is headline news the night before I should probably not be trading. I did 1/4 stake today but should have stayed out. I'm going to see what R Hill says in his update, but prob not trade (other than paper) until things get quiter. The political mess at the mo can't help either.

 

[n15ksh]

Hi n15ksh - you seem to be using the mid price and not the bid price which shouldn't make a difference to the slope of the MA - but it will make a difference to your entry and exit points - I think!

pseudo straddle - thanks for the reply, if the signal was a sell mode then would i be looking at the ask price? or is the bid price what you look at all times?

Thanks

 

[n15ksh]

N15ksh,

When I first got the system I emailed Richard about the decimal points as I didn't feel it was to clear in the manual, he said you should just round them off so you only have a five figure number.

Rugby Trader - thanks for the reply, thats interesting to know.