Richard Hill Forex Net Trap

[mark120169]

Not really sure what you are getting so excited about Mark model 120169. This looked indecisive to me and I did not trade it. And, in the many months I've been trading net trap, this is the first time I've seen a difference between my results and the official results. No biggee - there are humans involved and everyone has their own view.

I'm not sure how you can describe the system as "performing badly". Drawdown months are just a fact of life when trading. And with the hit rate of this method, back to back losses are guaranteed.

Rather then getting "really pissed", just accept responsibility for your own trading. Not much point getting pissed at RH 'cause he avoided a loss. No one is putting a gun to your head to trade....

But that's rubbish. Please read the "buy signals text" under chart on page 16 of the book. Everything to give a clear buy signal as explained in the book is in fridays MA figures. Please explain to me why it is indecisive. Without involving the end two decimals (which the book says only I use asthey report it as 15001.04 rather than 1.5001).

This is what upsets me, the rules are clear, but I feel he has deliberately twisted his rules to avoid the worse week ever and to try and limit the worse month ever. i don't care that I took the loss, I did what the rules said.

But obviously someone with loads of forex experience can say "na, no trade to risky" just my knowing the market. I can't, that's why I trade NT. But it grates when the guy who invented the rules doe not trade them. If he has more complex sub rules for days the MA is mot clear buy 2 or more he should say what those rules are.

M

 

[Rugby Trader]

But that's rubbish. Please read the "buy signals text" under chart on page 16 of the book. Everything to give a clear buy signal as explained in the book is in fridays MA figures. Please explain to me why it is indecisive. Without involving the end two decimals (which the book says only I use asthey report it as 15001.04 rather than 1.5001).

This is what upsets me, the rules are clear, but I feel he has deliberately twisted his rules to avoid the worse week ever and to try and limit the worse month ever. i don't care that I took the loss, I did what the rules said.

But obviously someone with loads of forex experience can say "na, no trade to risky" just my knowing the market. I can't, that's why I trade NT. But it grates when the guy who invented the rules doe not trade them. If he has more complex sub rules for days the MA is mot clear buy 2 or more he should say what those rules are.

M

Mark,

Have you asked him to explain why it was a no-trade day?

 

[pboyles]

Here's a short trade on the Bund which highlights the value of using weekly pivots and PIN bars, in this case on a 15 minute chart. Sell on limit order at 128.79, stoploss 128.87 (1 tick above high of bar). Not the best PIN bar but worked all the same.

 

[mark120169]

Mark,

Have you asked him to explain why it was a no-trade day?

Yes waiting for a reply. Sent my figures as posted on here. Will see what he says but I feel what ever the answer it will be a cop out becasue he doesn't want the results to bad for last week. Just glad I got him on record for two of his trades last week already.

M

 

[wilczek]

As I adopted Systems For Traders "mechanical" additions I didnt take Fridays trade "DFFFFFFUFU" using the IG advanced charts. Shows mostly flat with just a single Down and Two Ups, for what its worth, perhaps this is what Richard was using

W

 

[mark120169]

As I adopted Systems For Traders "mechanical" additions I didnt take Fridays trade "DFFFFFFUFU" using the IG advanced charts. Shows mostly flat with just a single Down and Two Ups, for what its worth, perhaps this is what Richard was using

W

This is a good idea but I hope he's not using this otherwise he may as well scrap the 1 MA clear rule with no opposing indicators.

To have a MA clear by only 1 you have to have loads of flat candles or some up some down, otherwise it will be clear by 2,3 or 4 or more. There is only one opposing candle rule in the book to signal not to trade and it was not there on Friday and he ignored that fact an called it a "no trade" . He did not trade his own rules. How can you argue that?

M

 

[Wagtail]

That is a fooking disgrace. Under the rules he wrote it was a trade. He can't then publish his results as indecisive no trade to avoid three -30 days in a row on the NT results. This is NT+D by RH. What next, those days like back in Mid May when some of us took a trade that was "indecisive" which RH did not trade and we got +50 pips.

I bet a few of those pop up over the next few months now to try and get RH NT figures on track. I have no problems with the system performing badly, but just report the facts as they did in the promo text showing the +400 pips last June. He should show the -93 pips for last week.
I will email him asking for an explanation.

For Friday I got (rounded as RH instructs)

XX932 start
XX932 Flat (ignore)
XX931 Down No.1
XX931 Flat ignore
XX931 Flat ignore
XX932 Up No.1
XX932 Flat ignore
XX932 Flat ignore
XX933 Up No.2
XX933 Still up / Flat ignore

That is a 1 pip rise over the 10 MA with no two consecutive drops........a buy signal under his rules FFS. How can he say this is indecisive.

Really pissed now.

M

Mark, I hope you are not really getting as stressed as you sound ("disgrace, "really pissed" etc). Why does it matter that much? His results normally tally very well with mine, so I can't see any systematic attempt to decieve. Either he's made a mistake on this occaision, or you have. You're both human. Remember there was a debate on this forum on Friday about whether it was a trade or not, after all.

If your annoyance is that you want the results correct so that others buying this in future have accurate results, then I would say that his reporting is one of the better ones out there. The forex world is full of sharks. There are many signals services that simply tell lies about there results, or just miss off the bad ones in their reporting.

Personaly, I've backtested this system before trading it live, so I know it works, and I know what drawdowns are possible, so he can write +50 every day for all I care. Makes no difference to me.

W.

 

[pseudo straddle]

There is only one opposing candle rule in the book to signal not to trade and it was not there on Friday and he ignored that fact an called it a "no trade" . He did not trade his own rules. How can you argue that?

M

Perhaps his brain was knackered and he had to use the screen on his mobile to trade -

A Tweet from Friday -

Cycled 25 miles to Wimbledon at the crack of dawn. Queued, now sitting waiting for John Ishner's match to start, after his longest match ...
3:25 AM Jun 25th via txt

 

[wilczek]

This is a good idea but I hope he's not using this otherwise he may as well scrap the 1 MA clear rule with no opposing indicators.

To have a MA clear by only 1 you have to have loads of flat candles or some up some down, otherwise it will be clear by 2,3 or 4 or more. There is only one opposing candle rule in the book to signal not to trade and it was not there on Friday and he ignored that fact an called it a "no trade" . He did not trade his own rules. How can you argue that?

M

Hi, My post was purely in jest (kind of) but it does make a mockery of this system when day in day out a bunch of folks cannot agree on whether its a valid signal or not.

W

 

[everydaytrader]

Hi, My post was purely in jest (kind of) but it does make a mockery of this system when day in day out a bunch of folks cannot agree on whether its a valid signal or not.

W

There does seem to be confusion but a good number people on Friday morning felt it was a buy, I certainly felt that way and after rechecking the manual still believe it was a trade. A detailed explaination of why it was a no trade day and the chart readings he
got is needed from RH.

 

[stevepatt]

Here's a short trade on the Bund which highlights the value of using weekly pivots and PIN bars, in this case on a 15 minute chart. Sell on limit order at 128.79, stoploss 128.87 (1 tick above high of bar). Not the best PIN bar but worked all the same.

Been looking in to this on James16 site looks a really good and simple method if your willing to put in a little effort to learn it.

It's certainly got a much longer track record than NT, he has been posting for 5 years using this method and has 28 years experience of the markets.

 

[peterf1966]

Would have to agree with Mark, Friday was a trade by the rules, although I broke them and bailed out for 8 pips - better than a poke in the eye with a ****ty stick. This morning I bailed (bottled) out early for a small loss, instead of sticking it out for the small win. Swings/roundabouts again. No problem.

It will be intresting to see RH's reply on this, but I doubt very much he's trying to pull a fast one - I've seen very marginal conditions to trade where a profit was made, and RH has called it a no trade day.

My bloody finger was hovering over the close button this morning at about the +25 mark too, but I'm trying to be a good boy :innocent:. I'm sure it was around one of the CAM resistances I'd plotted too, but was looking on mobile not big screen, tsk!

 

[Tenapenny]

How many of you NuTters out there are learning to trade or are many of you putting "blind faith" into mechanical systems to make your fortunes for the next xx years. I'm not having a go at anyone for using the system but it's you who pull the trigger and no system is guaranteed no matter if perfomance figures are manipulated or not (yes I agree it's wrong). We all take responsibility for every trade we enter so our biggest enemy is ourselves. A word of advice as well. No need to spend thousands on courses. There are plenty of sites freely giving information to learn how to trade, then once you've grasped the basics, move on to a style that suits you or search for the really top notch traders who mentor, paid or otherwise. That will be money well spent.

Rant over, have a good day everyone.:cheers:

 

[peterf1966]

Knowledge 2 Action, more on the fraud investigation please!

I went to one of their free seminars - hilarious hard sell, you get this, set of DVD's, all these books, and our 2 day course in our own trading room in London, not for £9995, not even for £4995, no ladies and gentlemen, you get all this for just £1995 (plus VAT) - as long as you sign up this very evening. If the bloke had been wearing a pair of clown shoes it couldn't have been more out of a circus....roll up, roll up!. Thankfully, no one signed up. And some think £247 is a lot of money!

 

[pboyles]

Knowledge 2 Action, more on the fraud investigation please!

I went to one of their free seminars - hilarious hard sell, you get this, set of DVD's, all these books, and our 2 day course in our own trading room in London, not for £9995, not even for £4995, no ladies and gentlemen, you get all this for just £1995 (plus VAT) - as long as you sign up this very evening. If the bloke had been wearing a pair of clown shoes it couldn't have been more out of a circus....roll up, roll up!. Thankfully, no one signed up. And some think £247 is a lot of money!

Just to make it clear there is nothing so say there is a fraud investigation. In the past they have threatened T2W with legal action because of critical posts. The facts are that the FSA issued an alert saying they were targeting UK investors. They have also been sanctioned by the Advertising Standards Agency. Those are facts available in the public domain so people can do their own due diligence before paying them for any services.

 

[Bolivian Admiral]

I Agree with M that the figures have been massaged so that it gives a positive figure overall in June. This system is unfortunately falling apart compare last June to this month you can see a massive drop. I doubt very much you will get a 300 pip month. You need a 300+ month now and again to offset months like may and June.

 

[greenraiderskee]

Yes a sell, but not weak, MA moved -4.

M

Managed a +32 today, needed it after the last few days! Pat

 

[Rugby Trader]

How many of you NuTters out there are learning to trade or are many of you putting "blind faith" into mechanical systems to make your fortunes for the next xx years. I'm not having a go at anyone for using the system but it's you who pull the trigger and no system is guaranteed no matter if perfomance figures are manipulated or not (yes I agree it's wrong). We all take responsibility for every trade we enter so our biggest enemy is ourselves. A word of advice as well. No need to spend thousands on courses. There are plenty of sites freely giving information to learn how to trade, then once you've grasped the basics, move on to a style that suits you or search for the really top notch traders who mentor, paid or otherwise. That will be money well spent.

Rant over, have a good day everyone.:cheers:

I am trying to follow Net Trap blindly, but in any spare time that I get I am trying to learn to trade. I'm reading around various websites. Also reading Trading in the Zone by Marc Douglas at the moment (finding it hard going). Have a couple of books by Kathy Lien lined up to tuck into soon as well.

What I want to do is come up with a couple of trading plans and stick rigidly to it. I find seat of the pant trading a bit too much of a rollercoaster, so if i have some set rules that will comfort me a hell of a lot.

 

[BigBrassBalls]

Hmm, RH's results I can understand, from my point of view. But agree, he's probably applied discretion / experience to trade.

Made a few good decisions to stay out of nasty trades last week, but then i went and fell for trading on friday... Seems to be whatever day i book off and fancy trading and watching the screen i lose!

That'll teach me for booking time off...

Quick question, i've plotted 3rd and 4th support/resistance (Camarilla Pivot Points) on my IG chart for the week, did you ladies/gents get the calculations based on the weekly totals from sunday after 10pm to plot accurately?

 

[wilczek]

We could have a little competition - Someone show me a pivot/camarilla/fib line that held perfectly and I show you one that didn't - Detailed research and usage may prove fruitless in my experience.

W