Richard Hill Forex Net Trap

[mark120169]

I too went with TNT but 75/25. Wasn't too optimistic about the 50 from NT but it's all part of the experimentation and I will BE anyway.

Luckily it seems current resistance is 1 pip above MNT bank target @ 14736

Lucky for MNT /TNT trialers. Maybe a problem to NT only.

It does seems uncanny that I spotted a pattern that a hi percentage of the time there always seems to be at least 10 pips movement past NT entry point and that it often can stall within a few pips after MNT has banked.

Anyone know any technical reason for this? I just noticed it as i'm logging all data from my trades daily.

M

 

[gav2e]

+10 on MNT for me today. makes up for -30 yesterday. still in NT but it's running out of steam, going to stick to rules though, will close at 8.30am regardless. Have I missed something, I understand the MNT but what is TNT?

 

[mark120169]

+10 on MNT for me today. makes up for -30 yesterday. still in NT but it's running out of steam, going to stick to rules though, will close at 8.30am regardless. Have I missed something, I understand the MNT but what is TNT?

TNT is what you are doing NT+MNT together. "Two Net Trap". :smart:

M

 

[gav2e]

TNT is what you are doing NT+MNT together. "Two Net Trap". :smart:

M

Ah. Thanks Mark

 

[msharma74]

Was in for a buy at 14725 this morning. MNT banked today with 75/25 rule. It is a great feeling to know that at worst it'll be break even today. Thanks a lot for your thoughts and idea Mark.

Good luck all.

 

[Tenapenny]

For those more experienced NT users (not me!) that can read the charts well and select an entry my MNT seems a good little tool?

Where can I learn about the IG charts? I really must watch the tradesense stuff they sent me sometime. Any other good free links guys?

M

IG use http://www.it-finance.com/index.phtml for their charting which is also used by prorealtime. If you go to http://www.prorealtime.com/en/ and sign up for their free unlimited time end of day charts you can really learn in your own time and there are 57 video tutorials to help you.

 

[stevepatt]

Luckily it seems current resistance is 1 pip above MNT bank target @ 14736

Lucky for MNT /TNT trialers. Maybe a problem to NT only.

It does seems uncanny that I spotted a pattern that a hi percentage of the time there always seems to be at least 10 pips movement past NT entry point and that it often can stall within a few pips after MNT has banked.

Anyone know any technical reason for this? I just noticed it as i'm logging all data from my trades daily.

M

What I have noticed is the price hitting recent highs or lows and then bouncing, so I have been targeting these areas, rather than just going for 10 pips, and looking for a minimum of 10 pips, so today I didn't trade as the recent high at 00.45 and the 6.30 entry where the same and I could see the market stalling.

I've back tested this approach to June 09 and it's doing well, personally I'd rather use this adaption of the Net Trap because it suits my trading style. I now some will say this isn't the Net Trap but it's taking a, so far, successful system and adapting it to suit my own needs.

It dosen't all ways work though looks like the market is going up, but on a day like today I'd rather play the %adges.

 

[bombettor]

-4 pips today!

 

[BigDunc]

+4 for me, having watched it reach over 30 at one point. But it's against the rules to stop before 8.30

 

[Gregus83]

This morning's charge halted right in the middle of our TF's range of resistance... makes sense when you look at it but we have to stick by some rules I suppose. Got to hate hindsight.

 

[peterf1966]

This morning's charge halted right in the middle of our TF's range of resistance... makes sense when you look at it but we have to stick by some rules I suppose. Got to hate hindsight.

As I said earlier I couldn't see 50 in it today, so MNT for me only - but half wondering what if...

Went back to sleep and just looking that NT was a break even or small loss by 8.30.
However I know I keep mentioning this, but If I'd have been at the screen at 8.15 I'd probably moved the stop loss to +20 over exit, if the position was up 30 by that time. I'm convinced of this approach - if you can be watching.

Also MNT seems to be working, but, the problem is, that it's losses can wipe out it's gains, and I worry about the R/R - this mornings £2 pip punt only funded by free money offer, and risking £60 to make £20 leaves me doubtful whether I will do i out of my own pot.

Can't recommend ETX enough though - £250 to play and experiment - and maybe boost your bank a bit to let you trade at a bit more per pip.

CMC markets also have a week free spread betting offer on at the mo, seems unlimited trades during one week, where you keep profit, they cover loss, but it's £2pip max, and it's only for trades after 8am, so no good for NT. Worth a look I feel.

 

[Claviceps]

Left early on the 08.00 candle for +19 , currently the sell position I mentioned earlier is in play,I think
I'm becoming a scalper more than a net trapper.

 

[mark120169]

-4 pips today!

Slight mini crisis this morning but not too bad as I got the same result as above.

Went to close out this morning @ 8.30 on the Samsung but the battery was so low it wouldn't let the IG app launch via 3G. Panic, Plugged in the car charger still not enough juice. Had to wait until 8.34 until it had enough oomph to launch IG mobile and close the position. I was sweating!

NT - 4 (closed @ 8.34 no choice)

MNT +10

 

[goldfinger777]

I got +25 pts today, like many of you I looked at support and resistance and really couldn't see it going to +50 so restricted my limit to +25.

I'm currently backtesting a slightly different approach to TNT that I think will be more profitable and less hassle in the long run. Basically, exactly the same rules as normal NT, but always trade at the market rather than placing orders, and always set your limit to 25. This week this approach would've prevented the loss on Monday and bagged you +125 pts for the week. That's pretty damn good in my opinion.

I call this approach "INT" or "Instant Net Trap" because you get in the market immediately rather than placing orders, and also generally get out again quicker than standard NT.

I need to do more testing but I will keep us Net Trappers informed of the results over the next few weeks.

 

[stevepatt]

Left early on the 08.00 candle for +19 , currently the sell position I mentioned earlier is in play,I think
I'm becoming a scalper more than a net trapper.

Think I'm with you Claviceps the %adge trade today was to wait and look for a signal to sell.
Sold at the open of the 8.45 candle going to ride it down to 1.4655 fingers crossed.

 

[fulham1985]

Mark,

Have you got the full results including total ROI for MNT so far? Sorry if its already been said. I've trawled through this thread for about 20 minutes and can't see anything obvious. Thanks.

 

[Rugby Trader]

Slight mini crisis this morning but not too bad as I got the same result as above.

Went to close out this morning @ 8.30 on the Samsung but the battery was so low it wouldn't let the IG app launch via 3G. Panic, Plugged in the car charger still not enough juice. Had to wait until 8.34 until it had enough oomph to launch IG mobile and close the position. I was sweating!

NT - 4 (closed @ 8.34 no choice)

MNT +10

why don't you call them? it's pretty easy.
I have to do it that way if i'm on the bus.
For some reason the app won't work on my blackberry.

I do feel a bit embarrassed though trying to whisper into my phone on a public bus. 'Can you close my position on cable please'

I got +3.1 this morning. I think the clock on my computer is a couple of minutes fast which might explain why I got a slightly postive result compared to most peoples slightly negative one though.

 

[peterf1966]

I got +25 pts today, like many of you I looked at support and resistance and really couldn't see it going to +50 so restricted my limit to +25.

I'm currently backtesting a slightly different approach to TNT that I think will be more profitable and less hassle in the long run. Basically, exactly the same rules as normal NT, but always trade at the market rather than placing orders, and always set your limit to 25. This week this approach would've prevented the loss on Monday and bagged you +125 pts for the week. That's pretty damn good in my opinion.

I call this approach "INT" or "Instant Net Trap" because you get in the market immediately rather than placing orders, and also generally get out again quicker than standard NT.

I need to do more testing but I will keep us Net Trappers informed of the results over the next few weeks.

What did you set your stop to? By trailing today I would have got this, if I had bothered.

A strange week, some NT, some TNT, some MNT, as I try this that and the other with the free money. Oh for the good old days

 

[mark120169]

I got +25 pts today, like many of you I looked at support and resistance and really couldn't see it going to +50 so restricted my limit to +25.

I'm currently backtesting a slightly different approach to TNT that I think will be more profitable and less hassle in the long run. Basically, exactly the same rules as normal NT, but always trade at the market rather than placing orders, and always set your limit to 25. This week this approach would've prevented the loss on Monday and bagged you +125 pts for the week. That's pretty damn good in my opinion.

I call this approach "INT" or "Instant Net Trap" because you get in the market immediately rather than placing orders, and also generally get out again quicker than standard NT.

I need to do more testing but I will keep us Net Trappers informed of the results over the next few weeks.

Interesting. More of a change to the structure of NT looking at all trades and removing some of the NT safety stops. With MNT I only looked at what happens on loss Days under NT rules, as I knew wins days would be the same result but limited to +10 pips max.

I have a third option too based on NT entry rules with modified targets i'm watching from my Data that is tracking MNT atm but has a lower RR ratio, although still higher RR than NT.

Like Peter I'm sitting on the fence with MNT alone even though I thought it up as the RR ratio is so bad. TNT is more interesting to me but again only TNT 60/60 really gives me a spark but is 4% MM and in reality is only just keeping up NT @ 4% MM.

TNT 75/25 4% MM is quite safe as long as it does'nt have a bad run of losses as the actual winnings possible are very limited compared to NT 4% MM (+£160 max TNT 75/25 vs +£400 max NT) so a run of losses will wipe it out, but as mel pointed out you would have to be unluckly. TNT75/25 on 2% MM is just too feeble on winnings compared to NT IMO.

At the moment I favour TNT 50/50 as it still gives you 2% MM, is only slightly behind NT for six months but is doing much better than NT so far May and June.

Will do a 1/2 month round up once we get RH offical results for this week on Monday.

I also have one NT adapted system that has a quite scary RR ratio but would have also banked +123 pips in the last week!

I'm sure between us we will come up with something as in my mind NT is still struggling in the 2010 market compared to 2009 launch when in flew for the first four months.

M

 

[everydaytrader]

Hi all

I been trading the NT system for a couple of weeks after watching this thread for a while and finaly
deciding to give it a go. Like a few others I've already started to tweak things a bit mainly entering
at market or if things are moving against the direction of the NT signal waiting until this move appears to be over and then entering in the direction of the signal keeping the same stops.
Seem to better getting better results so far but clearly to early to draw any real conclusions yet.

How does everybody else feel? Should we all be trading to the exact rules or is there evidence to
suggest that the system may have had its most successful month's in the past?

Also I have noticed a breakfast trade system mentioned in an email from a training company I recieved anyone heard of this or know what it is?