Richard Hill Forex Net Trap

Has anyone else seen the official NT results email today?

Is it just me or is RH really starting to take liberties with his result reporting now?

For example, he's got last Tuesday as a "No Trade" day. By my records, admittedly the MA spread was only 1 but it was still a NT trade day.

And then Friday he's got as a +16 day, based on an entry of 15420. The market went down to 15390.9 on the 7:15 candle. So it was close, REAL close. IN THEORY he's right but who actually managed to achieve that trade? RH is assuming NO slippage which as we know is pretty unlikely (certainly with IG anyway!).

Personally I think in reality his results should be -60pts less than what he's reporting, which puts NT on -44 pts for the week, not the +16 that he claims.

Tricky one this. Yes you can argue that strictly speaking Tuesday was a set up, but the rise was in the MA was only 0.7 from what I remember, so I didn't take it, and on Friday I didn't stop out playing it strictly by the rules and got +16, so for me it agrees.

W.

www.cabletraderfx.blogspot.com
 
I too reckoned Tues 13/7 was No Trade, to be honest I thought most of this forum thought so too. Got -30 rather than +16 for the Friday no doubt due to IG slippage from my Limited Risk account. Am now going to do the Gekko account he is promoting ....
 
I thought Tuesday was a no trade day - 0.7 over all MA difference was it - not enough to satisfy the 1 pip rule. Friday - I was in profit too, no slippage..but went in on the 2nd time it hit entry, when less people looking to get filled. So to be fair, my results were similarish to RH's,just a few pips less on both profit days.
 
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I think RH has taken a couple of liberties in the past with the figures, but on this occasion I have to agree with peterf1966 and wagtail, this week's official results reflect mine, I had Tuesday as a no trade too and Friday I got +23 because I closed my trade at 8:28. Wonder what he's going to call today, because strictly by the book the entry level was triggered just before 8.30? Should have been approx 8 pip loss, but I'm sure most here like me canceled it well beforehand.
 
My results last week were:

12th : +50 14th: -30 15th: -30 16th: +17

So plus 7 for the week.

5 other trades this month all for profit, so overall a great month so far, even counting the recent losses.

Today I had an order in but I cancelled it after the big drop in the morning thinking it would never retrace and trigger, although strictly by the rules, it did.
 
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Rugby Trader managed to escape Friday's stop out on VNT and I think using IG too, but he was one of the few IG users that did make it, plenty on SFT forum all got stopped out.

And yes for Tuesday........another mysterious 1 pip clear trade day no mistaking taken by me and Rugby Trader too and it got stopped out, so RH reports it as "direction Inconlusive". How convienient.

Anyway, I agree GF777, he is seriously padding for time now and tweaking his trades when he can get away with it so that those in his favour are always traded and those that go against him are suddenlt decalred "No trade, direction not clear" even though by his rules you should trade.

As mentioned previously by someone else I suspect a NT relaunch sometime after the summer and good results (if it acheives then) so he needs to keep "official" losses to a minimum to keep people buying.

M



Friday was fine for me on IG like Mark said. The review team at SFT got their entry point wrong by one pip which is why they got stopped out.

I made Tuesday a trade, however obviously RH didn't, I asked him shortly after the email came out and he replied pretty promptly.

His reply was that although the MA had indeed risen by 1 the last three were turning down and the final candle was .5 and he decided to round that one down. The reason he did this was it is always better to be conservative.

It's a bit annoying as in my opinion it was a trade, however, i think this shows the value in a couple of things i've been reading in various places, which is if in doubt stay out and never force a trade.

I will be more conservative in future. It might mean less trades but it may mean less losses also.
 
Sorry Matt, just seen this after your last post/ YOu might be right, there may be an error in the code that gbru2 supplied, where it looks at the previous day number.
I felt there was an error in the Pivot calc, where P was given as C, I thought it was (H+C+L)/3 ??

morning - you go away and lots of stuff happens it seems

I just realised something... I'm not looking at the same thing you guys are.. I'm in Japan which, because IG opens on Sun night for us, you get extra candles... so I wrote the code to look at Fridays data on Sunday evening and Monday, otherwise the cam lines go haywire..

This may not be the same for you if you in the UK or indeed a different time zone - Can you confirm whether your first candle of the week is on Mon or Sun?
 
Sorry Matt, just seen this after your last post/ YOu might be right, there may be an error in the code that gbru2 supplied, where it looks at the previous day number.
I felt there was an error in the Pivot calc, where P was given as C, I thought it was (H+C+L)/3 ??

Hi Peter,

I posted some chnaned code in a later post.. however, let me see if the time zone thing makes a difference
 
I have a game plan for tomorrow and leaving the orders tonight: sell 1.5260 Pivot SL 20 TP S4 15153.
 
morning - you go away and lots of stuff happens it seems

I just realised something... I'm not looking at the same thing you guys are.. I'm in Japan which, because IG opens on Sun night for us, you get extra candles... so I wrote the code to look at Fridays data on Sunday evening and Monday, otherwise the cam lines go haywire..

This may not be the same for you if you in the UK or indeed a different time zone - Can you confirm whether your first candle of the week is on Mon or Sun?

Good morning gb!.

the first candle appears on Sunday at about 10pm, but we want Fridays data for Monday don't we? Not much data for Sunday really, so you are correct I think.
 
Good morning gb!.

the first candle appears on Sunday at about 10pm, but we want Fridays data for Monday don't we? Not much data for Sunday really, so you are correct I think.

ok cheers, then it should be ok??? but lets see

heres the logic

Sunday is day 0, Monday day 1, Tuesday day 2 etc. as you get candles on a Sunday, you want them to look at Fridays data (H, L, C etc) and similarly for Monday as Sundays few candles don't count as a full day?


So we get

if dayofweek=0 then

(if day of week =0, Sunday, use data from 2 days ago, i.e Sat > Fri )

H = ( DHIGH(2) )
L = ( DLOW(2) )
C = ( DCLOSE (2) )
endif

if dayofweek=1 then

(If day of week =1, Monday use data from 3 days ago, i.e. Sun,Sat,Fri)

H = ( DHIGH(3) )
L = ( DLOW(3) )
C = ( DCLOSE (3) )
endif

if dayofweek>1 then

(If day of week >1 i.e Tues onwards, use "yesterdays" data - the "(1)" part )

H = ( DHIGH(1) )
L = ( DLOW(1) )
C = ( DCLOSE (1) )
endif

However, given you've fund an error, I'm wondering whether Saturday is counted? Maybe the "use data from 2 or 3 days ago" is interpreted as days where there is a value.. As nothing happens on a Sat then that might not be included when counting back?

In my defense, I did say no warranty :p

let me check it out and I'll post some revised code if needed

apologies people..
 
To calculate Friday's data just use the OHLC. Use the close of NY session as this is how pivots are derived.

Monday's are notoriously funny for pivots anyway as if there is a gap upon opening, the pivots tend to be irrelevant.
 
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