Richard Hill Forex Net Trap

[barbaras]

INT is to risky for me as it ignores all NT safety features apart from "no trade" day decisions.

I back tested it to when I started on the 17/5/10 and the first two trading days I ever had where trade days but the traps did not trigger due to the NT safety stops. INT would have ignored these and just jumped straight into a trade. Those first two days would have been -60 pips. Infact my back testing showed that up to and including 1/6/10 INT would have been sitting on -88 pips.

To be fair from 2/6/10 INT has had a good run @ +225 pips giving a combined result to date of +137 pips.

But it's just the way it ignores the NT safety stops and jumps in without pause for thought that NT has that worries me, even more of a coin flip than NT.

I don't have the data for all past trading days that didn't trigger but I suspect if anyone did you would find that every single one would have been a -30 pips loss with INT. But maybe it's a winner, am watching it too now to monitor results.

M

Well it's impressive to see how you've all put your thinking caps on and come up with your personal tweaks of the syste! I've read somewhere (possibly even from RH's forex roundup) that the most successful traders are those who take a system and further adapt it, so way to go!

On a related front, since it was at times asked where to get historical data for backtesting purposes -- from http://disktrading.is99.com/disktrading you can download historical forex pairs data ($20 for a given pair) back to 1998 -- in lots of time frames and formats. I've used it in the past and found it excellent, it also gives you free quarterly updates for a year.

b.

 

[bombettor]

Do we agree that its NO TRADE today? we have 3 black candles opposite the trend and MA also not clearly trending.

 

[Gregus83]

Do we agree that its NO TRADE today? we have 3 black candles opposite the trend and MA also not clearly trending.

No trade for me either. Back to bed. :clap:

 

[gav2e]

the m.a. is flat, no clear direction, no trade for me.

 

[msharma74]

Yep I agree. No trade day today.

 

[tjw]

Do we agree that its NO TRADE today? we have 3 black candles opposite the trend and MA also not clearly trending.

Yes - its a no trade day for me.

 

[peterf1966]

:|

 

[mark120169]

Yes - its a no trade day for me.

Agreed...........go for it INT.

M

 

[Denman]

sweet dreams All.

 

[SA Trader]

Has anyone ever used the 'Time in Force' facility on IG Index when placing a trade ? There seems to be a Good till....feature, and was wondering if we could use this to exit our trades automatically at 8.30 for us ?

 

[bombettor]

Is it a SELL signal? MA t 6:15 candle is lower than the 4:00 candle with only 2 candles showing MA higher.. rest flat or lower.

 

[paulhayes57]

Last week the "official" NT system bagged a -4 pt loss overall.

Last week the INT (Instant Net Trap) system bagged a 125 pt profit overall.

hi
whats the instant net trap ?
thanks paul

 

[mark120169]

Is it a SELL signal? MA t 6:15 candle is lower than the 4:00 candle with only 2 candles showing MA higher.. rest flat or lower.

??? Why ask @ 7am FFS...........have you even read the book?

M

 

[mark120169]

hi
whats the instant net trap ?
thanks paul

Order direct to market @ 6.30, no safety stops, 25 limit 30 stop.

Instant win or Instant loss, toss that coin and decided.

M

 

[Claviceps]

Wishing my brain worked better at 06.30 am , the market was pretty rangebound this
morning and had been in that state for some hours thus there was a 'no trade signal'
for Net Trap . Only when it was too late about 7.15 ish did I consider using some sort of
straddle stratagy. Its gonna break out one way or the other- why not be ready for it ?
Course you need to be able to be near your machine so straddling might not be for
everyone . Do any of you 'more wide awake' folks consider doing this on no trade days
for Net Trap ?

 

[bombettor]

??? Why ask @ 7am FFS...........have you even read the book?

M

yes.. perhaps read it too often that I start reading between the lines

 

[Melb]

Wishing my brain worked better at 06.30 am , the market was pretty rangebound this
morning and had been in that state for some hours thus there was a 'no trade signal'
for Net Trap . Only when it was too late about 7.15 ish did I consider using some sort of
straddle stratagy. Its gonna break out one way or the other- why not be ready for it ?
Course you need to be able to be near your machine so straddling might not be for
everyone . Do any of you 'more wide awake' folks consider doing this on no trade days
for Net Trap ?

Well outside of net trap and it would need to be followed...

Agreed, this morning a reasonable strategy may have been to set 2 traps - 1 buy the other sell just outside of the range... A swift breakout would trigger the trap - obviously the first priority when triggered is to cancel the trap that did not trigger... A popular strategy to enter often used prior to major news releases... Good for catching quick pips - but needs a trigger finger to close sometimes as the rebounds can be fast

Working this morning at the witching hour - looks like I didn't miss much!

 

[missionary]

Last week the "official" NT system bagged a -4 pt loss overall.

Last week the INT (Instant Net Trap) system bagged a 125 pt profit overall.

Well, I made +36.1 pips overall

Maybe that reinforces my conviction that support and resistance must be part of the calculation?

mish

 

[fulham1985]

Hi Guys,

No trade today was a bit frustrating. Better than hitting a loss though. I've noticed a few people asking questions here about Net Trap and the markets that others might not know the answers to. I've emailed Richard a couple of times at [email protected] . Thats his inbox for his free email newsletter. Just google it if you want to see more about that.

Mark (and others) have you ever thought about talking about your variations on Net Trap with Richard. I'm sure he'd be interested to know about them.

 

[Rugby Trader]

Order direct to market @ 6.30, no safety stops, 25 limit 30 stop.

Instant win or Instant loss, toss that coin and decided.

M

Christ Mark, you love your poor Risk: Reward ratios!

How has this version been faring?