Richard Hill Forex Net Trap

SA Trader/ Peterf et-al, first of all many thanx for your posts and advice - you really are a tremendous help for us 'newbies'.
I was up at 6am this morn' going over the video and re-reading the manual while watching the 'MA' do its thing. I started flapping as 6:30 loomed closer and almost didn't bid, in fear that I might accidently wipe out my entire bank of £200. Anyway I came thru' unscathed and with my 'bank' a healthy +23!
Now, I don't want to bore you guys but I still have a few things I need to be at rest about.
This morning the 'MA' was going down so it was a sell, yet when we placed our order we had to buy. Does this mean that if the 'MA' is rising we have to 'sell'?
It took me a couple of times to place the order, is this normal(maybe my lap-top up the creek!).
For the time being I am using 10p pips but hopefully(if I remain disciplined!) in time would like to get to the point where its £10 pip. And if previous results are to be believed, its very possible to have a second income of around £12,000( or am I in Lala land). What I would like to know is, will the 'Brokers' cap the amount you can win? (I recently had a lucky streak with William Hills of £2000 and now they have limited my bets to £30 a bet!) Once again Many Thanx.......
 
Hi Denman, today when you clicked on 'Open to Order' you should have placed a SELL order, Not a BUY order, and then at 8.30 you would have had to close out manually by placing a BUY order....
 
SA Trader/ Peterf et-al, first of all many thanx for your posts and advice - you really are a tremendous help for us 'newbies'.
I was up at 6am this morn' going over the video and re-reading the manual while watching the 'MA' do its thing. I started flapping as 6:30 loomed closer and almost didn't bid, in fear that I might accidently wipe out my entire bank of £200. Anyway I came thru' unscathed and with my 'bank' a healthy +23!
Now, I don't want to bore you guys but I still have a few things I need to be at rest about.
This morning the 'MA' was going down so it was a sell, yet when we placed our order we had to buy. Does this mean that if the 'MA' is rising we have to 'sell'?
It took me a couple of times to place the order, is this normal(maybe my lap-top up the creek!).
For the time being I am using 10p pips but hopefully(if I remain disciplined!) in time would like to get to the point where its £10 pip. And if previous results are to be believed, its very possible to have a second income of around £12,000( or am I in Lala land). What I would like to know is, will the 'Brokers' cap the amount you can win? (I recently had a lucky streak with William Hills of £2000 and now they have limited my bets to £30 a bet!) Once again Many Thanx.......

Hi Denman. Taking your 2 questions:
1) The MA was falling this morning so we placed a SELL order at 1.44802: I can't see how you would have placed a Buy order? If the MA is going down you place a sell order , if it is going up you place a buy order.
2) Brokers shouldn't cap what you win: IG index deal with 10's of 1,000s of customers several of whom will have large accounts. You shouldn't have any problems.
Good Luck: I cocked up this morning as I was late for work :sleep:, so if you banked 23 pips thats a great start.
 
SA Trader/ Langmeadman, thanx for yr replies.
I think my 'written-english' is'nt too clever these days as I didn't explain very clearly.
. As the MA was going down, on the 'Open to Order' its Sell then at 8:30 we close the order with BUY.
So, if the MA was going up, on the 'Open to Order' is it 'BUY' then at 8:30 we still close the order with BUY? - Hope this makes sense as I can't refer to the manual as I have left it at work!
And thats good news about 'not being capped' by the 'Brokers' eh. Though I should think it'll be in the distant future before i can go from 10p to £10 eh.
 
Not sure if it's a valid trade today? MA is flat from 4am - 5.30 but last 4 candles show a rise. is this a long by the rules? Still new to this.
 
Not sure if it's a valid trade today? MA is flat from 4am - 5.30 but last 4 candles show a rise. is this a long by the rules? Still new to this.

I got it as MA rising by 5, either rounded or pure decimals.

M
 
Not sure if it's a valid trade today? MA is flat from 4am - 5.30 but last 4 candles show a rise. is this a long by the rules? Still new to this.

But could be wrong. Just realised I was on "mid" price........grrrr.....IG Charts......and being 1/2 asleep.

M
 
slipage and took a while to execute my order so it took me at 14739

IG got me in on 14737 on the dot but the ticket was set up and executed about 10 seconds after close. Was executed in less than two mins i reckon.

M
 
But could be wrong. Just realised I was on "mid" price........grrrr.....IG Charts......and being 1/2 asleep.

M

made same mistake too, chart on mid price rather than bid. looks even flatter on the bid version of chart but at least MA is not falling over 4am-6.30 am period. I'm in anyway, for better or worse. showing about +10 right now
 
You had to be really quick this morning! I had to jump straight in and alter my limit etc

Did Any IG users get slippage?
 
IG got me in on 14737 on the dot but the ticket was set up and executed about 10 seconds after close. Was executed in less than two mins i reckon.

M

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
 
You had to be really quick this morning! I had to jump straight in and alter my limit etc

Did Any IG users get slippage?

I entered manually today. £ not been this high 13th May so fingers crossed this does run out of steam in next 90 mins. Feeling a bit nervous about this one...
 
I entered manually today. £ not been this high 13th May so fingers crossed this does run out of steam in next 90 mins. Feeling a bit nervous about this one...

If you want to test your nerves properly switch your chart to the 1 min timeslot and wotch the candles and MA adjust every minute! :devilish:

M
 
Top