Richard Hill Forex Net Trap

abhiforex5 said:
I've found an interesting site. They are offering methods that use no indicator or ea, yet you can earn 50-100 pips daily. I have just downloaded it and testing it. I made around 78 pips in 2 days. Site is 3aces4fx.com
Click to expand...

Hi , that's a good start. , but keep us informed on further progress , I'm not prepared to pay for another system whilst testing this one , but is always interesting to here results . I think you need at least a month to test .
Thanks mate
 
Almontana73 said:
I've answerered the security question now , but no response as yet !!
Click to expand...

Please chase SA Trader one more time and also PM me your answers to the security question too.

If not sorted by the weekend and your answers are correct I will authourise you at the weekend.

M
 
mark120169 said:
Please chase SA Trader one more time and also PM me your answers to the security question too.

If not sorted by the weekend and your answers are correct I will authourise you at the weekend.

M
Click to expand...

Hi mark , just checking you received my PM to you ?
 
Like Almontana73, I am too waiting for the access

Like in Trading, patience is the key ;-)
 
Hi
Does anyone know if you are liable to pay any tax from profits from forex programmes ?
Thanks in anticipation.
 
Almontana73 said:
Profits from spread betting in uk is tax free .
Click to expand...

Thanks for the reply, my programmer is based in Sweden and makes profits by the following 9quote)
The trading algorithm that I have developed only trades the 3 major markets: EUR/USD, USD/CHF and GBP/USD. On average it trades 6-8 times each month in total and has had a win ratio in 2010 of 81.40%. It's overall expectancy is at 26.36 right now which means that for every 1$ we trade now, we can expect to make back $26.36 based on its current performance. It's RR ratio is 1:1 which means it's average loss is almost equal to it's average gain. In turn that means this algorithm makes its profits on the high win ratio and from the accumulation of profitable trades. The trading signals are only valid within a 24 hour window and if executed will typically be settled (closed) within a couple of hours in the most liquid trading sessions. This will all be done through stop orders and no market orders or manual interference from myself is needed. Maximum number of losing trades in a row has in 2010 been 2 and the maximum number of winning trades has in 2010 been 11.

Excuse my ignorance but is this classed as spread betting ?? Sorry I am based in the UK
 
paul123 said:
Hi
Does anyone know if you are liable to pay any tax from profits from forex programmes ?
Thanks in anticipation.
Click to expand...

The answer depends on wether you spreadbet or trade lots in the real forex markets.
In spreadbetting there is a small tax levy that you pay as part of your spread you don't even notice it ,any winnings come free of tax . Tading lots (or micro lots) will attract tax
but this will depend on your own circumstances .There is an argument put forward by
Black Swan (look back in this thread) that says if you are only making small gains you may well be better off trading micro lots in the real markets until such time as you reach a certain tax threshold (I don't know what that is). Personally I prefer to spreadbet
and not worry about it ,even though the spreads are probably costing more. I ought to add that this is an answer applicable under UK tax laws . The situation differs in other
parts of the world .
 
Hi Paul , I would say you are spread betting , but I'm not an expert . Ask some of the senior members mate .
 
Claviceps said:
The answer depends on wether you spreadbet or trade lots in the real forex markets.
In spreadbetting there is a small tax levy that you pay as part of your spread you don't even notice it ,any winnings come free of tax . Tading lots (or micro lots) will attract tax
but this will depend on your own circumstances .There is an argument put forward by
Black Swan (look back in this thread) that says if you are only making small gains you may well be better off trading micro lots in the real markets until such time as you reach a certain tax threshold (I don't know what that is). Personally I prefer to spreadbet
and not worry about it ,even though the spreads are probably costing more. I ought to add that this is an answer applicable under UK tax laws . The situation differs in other
parts of the world .
Click to expand...

Good point well made.

M
 
Tenapenny said:
Don't give up with just 2 weeks testing. Although I don't trade FNT myself, I gather it will be worth your while when you start applying some of the methods on the private forum. Hang on in there.:)
Click to expand...

Yep. +260 pips I have pulled in 5 weeks set and forget 90%.

M
 
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