Richard Hill Forex Net Trap

BigBrassBalls said:
I'm in at 14633.
Click to expand...

Yep no IG slippage today. 1 min chart MA has changed direction the last 5 mins so it looks like the trend is moving upwards again, not a up spike dragging us in then carrying on dropping to stop out. So fingers crossed.

M
 
mark120169 said:
Yep no IG slippage today. 1 min chart MA has changed direction the last 5 mins so it looks like the trend is moving upwards again, not a up spike dragging us in then carrying on dropping to stop out. So fingers crossed.

M
Click to expand...

Yeah i also tend to watch the trend on the 1 min chart :)

Anyway, good luck guys, let's make some pips!
 
msharma74 said:
From what I understand it is ok if the MA falls - as long as the fall is not over 2 consecutive candles. On that basis I have entered a Buy at 14620. Please correct me if I'm wrong.
Click to expand...

The buy is correct, but your entry position looks low, should be around 14633.
No slippage on ETX.
 
msharma74 said:
oops..took the opening price +5 as my starting point by mistake but I'm not complaining!
Click to expand...

:LOL: My first day what I had read in the book 4 times did not sink in, I got the signals right but placed a buy @ the MA figure +5 rather than the high. Everyone else lost but I managed to close out @ 8.30 for about 9 pips profit.

A lot of head scratching later the guys on this forum told me my mistake when I added my post. Was very helpful making a small mistake @ 20p pip, really helps it to sink in quickly learning by your mistakes.

M
 
Gregus83 said:
Have you adjusted your limit to account for this?
Click to expand...

Yes, and my stop loss! Got stung a few weeks ago by using a imit of 50 for this account! Adjusted my levels to 47 and 33 following that incident. Richard Hill also now recommends doing this with a limited risk account.
 
ak88 said:
The book isn't clear if we should look at the MA rounding the decimal or not, hence hesitant today as its my first week on this system. But as everyone is confirming a buy, I placed an order - its a system so just follow the rules.

Will be helpful if Richard Hill could confirm the MA and if a 0.1 is sufficient to say its a move. It must be very rare for an MA not to have changed by that small amount (or is it more common than I think - not studied enough charts to know really). Any insight appreciated.
Click to expand...

read the thread from the start most of the questions you have or will have are answered on here somewhere. also read RH's weekly email as it has an faq at the bottom

as for the decimals. round them off so you only have whole numbers.
 
Whoa, Deja Vu, this is just like yesterday. A glitch in the matrix.

With my 250 loss covered, should I adjust my stop, and see just how deep the rabbit hole goes?
 
Rugby Trader said:
read the thread from the start most of the questions you have or will have are answered on here somewhere. also read RH's weekly email as it has an faq at the bottom

as for the decimals. round them off so you only have whole numbers.
Click to expand...

Richard has made it clear on more than one occasion in his email that you should round the MA : I've missed out on +50 pips in the past by ignoring that rule....(April 30th I think)
 
Rugby Trader said:
read the thread from the start most of the questions you have or will have are answered on here somewhere. also read RH's weekly email as it has an faq at the bottom

as for the decimals. round them off so you only have whole numbers.
Click to expand...

Thanks - have read through the thread a while back before buying the system and have only started this week so awaiting my first weekly email.
 
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