Richard Hill Forex Net Trap

[peterf1966]

£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

Not that long as it happens Mark!

If you start in week 1 at £1 a pip, and we assume a modest 25 pips per week profit, and you dont take any money out, then you build up to £300 a pip in 346 weeks - call it 7 years if you miss the odd week. By then you've got nearly 1/2 million in the bank. Run it another year and you have a million, and are trading at over £700 a pip, such is the exponential growth. A year later, its £1671 a pip and a bank of over £2.5 million - and so on...

So Rodney, this time in 7 years.....

 

[mark120169]

Not that long as it happens Mark!

If you start in week 1 at £1 a pip, and we assume a modest 25 pips per week profit, and you dont take any money out, then you build up to £300 a pip in 346 weeks - call it 7 years if you miss the odd week. By then you've got nearly 1/2 million in the bank. Run it another year and you have a million, and are trading at over £700 a pip, such is the exponential growth. A year later, its £1671 a pip and a bank of over £2.5 million - and so on...

So Rodney, this time in 7 years.....

LOL. Reminds me of that episode of Red Dwarf when Holly is explaining to Lister does he remember the 2p he left in his building socierty account in 1982? When he says "No" Holly explains that becasue of compound Interest and the fact they have been on the red dwarf in space for Millions of years and the money was not spent and that the 2p eventually grew to comsume the entire worlds money supply colapsing the world economy!

M

 

[peterf1966]

LOL. Reminds me of that episode of Red Dwarf when Holly is explaining to Lister does he remember the 2p he left in his building socierty account in 1982? When he says "No" Holly explains that becasue of compound Interest and the fact they have been on the red dwarf in space for Millions of years and the money was not spent and that the 2p eventually grew to comsume the entire worlds money supply colapsing the world economy!

M

In reality, you'd take profit out of the system, pay your mortgage off, have a succession of lesser and lesser practical cars etc..

 

[Denman]

Missionary, thanx for that. As I didn't have the manual with me this morn' I thought it best to leave alone as I wasn't sure.
Regards

 

[missionary]

Denman, OK but not a lot of rocket science involved, just have a notebook with you and also record your trades on an XL, adding a couple of columns to record the weekly digest from RH. Then you will have a good comparison which might motivate you as well.

By the way, nice to see someone raising the issue of support and resistance. If we keep that in mind then we might be able to see if this rule also applies with the net trap and how we might forecast rise and fall after identifying a regular support/resistance channel.

cheers

mish

 

[Gregus83]

Almost ready to go with a buy or should I be taking note of 04.45 - 05.15?

 

[ak88]

Almost ready to go with a buy or should I be taking note of 04.45 - 05.15?

MA is rising on these (isn't it?) - my interpretation is the MA and not the candles themselves......someone here with more experience confirm? (second day only!)

 

[Makasu]

Almost ready to go with a buy or should I be taking note of 04.45 - 05.15?

It's definitely a buy. Look at the MA, not the candles themselves.

 

[missionary]

G83 its a rise of 10 over the 10 candles. Buy at 14719 (14714 +5)

mish

 

[SA Trader]

Its a BUY at 14718...

 

[BigBrassBalls]

Almost ready to go with a buy or should I be taking note of 04.45 - 05.15?

The MA was rising all the way, only take note of the MA when deciding whether or not to place your trades. Clear buy trade today.

 

[BigBrassBalls]

The MA was rising all the way, only take note of the MA when deciding whether or not to place your trades. Clear buy trade today.

My order is set for 14719!

 

[Gregus83]

Thanks for the clarification guys. That's where I had set my entry. :cheesy:

All the best!

 

[yidos1]

Thanks for the clarification guys. That's where I had set my entry. :cheesy:

All the best!

Shouldnt the buy order be 14720 14714.8=14715+5 =14720 going by the book this is the way to do it

 

[alexgroom]

Shouldnt the buy order be 14720 14714.8=14715+5 =14720 going by the book this is the way to do it

Check your chart Yidos1. Your chart is showing mid prices and not the bid. Its 14719 you want if you are following IG and rounding.....

 

[yidos1]

Check your chart Yidos1. Your chart is showing mid prices and not the bid. Its 14719 you want if you are following IG and rounding.....

Wher do i find the bid price
I am new to this and can only see one price on the 6.15 candle for the high
Thanks

 

[missionary]

yidos
top left corner of the chart - a drop down menu.

suggest you look at the video, its useful

mish

 

[SA Trader]

You always round to the nearest WHOLE number so in this case the 6.15 high was 14713.8 so we first round up to 14714, anf then add 5 pips = 14719

 

[pips ahoy!]

Wher do i find the bid price
I am new to this and can only see one price on the 6.15 candle for the high
Thanks

Yidos1, the bid price selector is at the top left hand side of the chart window. Its a pull-down menu that is set to 'Mid Price' by default.

Matt.

 

[yidos1]

thanks missionary and sa trader ive now chenged my chart to bid price