Richard Hill Forex Net Trap

me1234 said:
MNT just banked
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Congrats to all who banked with MNT today. I did not trade as MA was uncertain. :( I hope you all remembered the 33 stop as it was a sell order?

Anyway, will email RH and if the confirms he got today as a trade day I will update my MNT stats for June with todays win, if he agrees with me it was a No Trade day I will omit them. Same for my as yet unpublished INT figures, as if today was "officially" a trade day INT would have bank 25 pips too.

M
 
mike_duffy said:
I have been trialling Forex Net Trap system for a few weeks now, and have just come across this Forum.
Having read some of the recent postings I am interested in the different systems listed in this email and the INT system mentioned elsewhere, as it has been clear to me that the target of 50 points is seldom achieved at the moment.

Have these systems been summarised somewhere? Having this information would be so much easier for me than having to trawl through hundreds of postings to try and find all the information I need.

Thanks in advance.
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No. Systems only devised Early June after I kicked off the debate with my MNT theory, and only adoped by trialers live the last two weeks. Read from page 151 post #1202.

June is the first official MNT / TNT / INT month and as I record all stats daily will post results in summerised form the first Monday in July (once I get RH update for 28th-30th june).

However it has to be said some folks are doing very nicely so far now, me included.

M

p.s. Unfortunately variant results summary as well as detailed expalnation of all variant systems will ONLY be posted on the new private forum which should be up and running by early july. But they are all here to find for those that want to read all June 2010 posts.

But this is not a problem for all "invested" Net Trappers as they will meet the entry selection criteria.
 
Did`nt trade today, was unsure what way it was heading. I worked out that if i kept an eye on it i could of made +7. Regards Pat
 
mark120169 said:
But this is not a problem for all "invested" Net Trappers as they will meet the entry selection criteria.
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The crireria is easy, the secret handshake will take some time to master.:whistling

All down to the decimal rounding today, another 'technically a trade' day I think, but this morning I valued some sleep more, after a big weekend and last weeks spectacular showing - if +25 is a realistic average, and I got +145 last week, I'm not that desperate to wing it for a few pips extra.

Yes, another MNT only day, but a risky one - -30 for +10 ><
 
mark120169 said:
Paul........are we seen as crackpots on here now or are the experienced boys watching with interest?

M
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I can't believe what I'm reading on this thread. Risking 4% is craziness on a system such as this. I hope those who are risking this sort of money have done a huge amount of back testing so that they realise just how much drawdown you will go into in a prolonged bad patch which will happen at some point. I can only think that there are a lot of new traders here. You can't base your money management on a few weeks results with the ridiculous amount of variations that have sprung up here.

Remember, there are old traders, bold traders, but no old, bold traders.
 
Mr Index said:
I can't believe what I'm reading on this thread. Risking 4% is craziness on a system such as this. I hope those who are risking this sort of money have done a huge amount of back testing so that they realise just how much drawdown you will go into in a prolonged bad patch which will happen at some point. I can only think that there are a lot of new traders here. You can't base your money management on a few weeks results with the ridiculous amount of variations that have sprung up here.

Remember, there are old traders, bold traders, but no old, bold traders.
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Yes, it's that 4% (though with a bigger bank, you can go 2%) and the poor R/R that makes me sweat like a scouser in a job centre...yet it seems to work, but I agree, its only 5 weeks of data. Mornin'
 
Off topic a bit so apologies, but if you want to see an expert day trader and what it takes to make it in this game have a look at the live trading room at trendsignal. Exspensive, frustrating and exciting and +5000 pips pa. I have no involment with trendsignal, it will open your eyes. Ignore this if you like.
 
Can someone invent a system that analyses the trade signals, and then cancels your alarm if it's a no trade?
Click to expand...

This is already possible with certain trading platforms such as Tradestation.


Paul
 
Mr Index said:
I can't believe what I'm reading on this thread. Risking 4% is craziness on a system such as this. I hope those who are risking this sort of money have done a huge amount of back testing so that they realise just how much drawdown you will go into in a prolonged bad patch which will happen at some point. I can only think that there are a lot of new traders here. You can't base your money management on a few weeks results with the ridiculous amount of variations that have sprung up here.

Remember, there are old traders, bold traders, but no old, bold traders.
Click to expand...

Hi Mr. Index, you're right in that most of us are new traders here. Have you any helpful links or pointers for us on MM and it's uses. I've been reading bits and pieces so far but haven't looked into it enough yet. I know MM is an essential part of being a trader so it is something I intend to learn a lot more about.
 
Rugby Trader said:
Hi Mr. Index, you're right in that most of us are new traders here. Have you any helpful links or pointers for us on MM and it's uses. I've been reading bits and pieces so far but haven't looked into it enough yet. I know MM is an essential part of being a trader so it is something I intend to learn a lot more about.
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I followed a few different trading methodologies, and most would recommend a max 1% risk on each trade. RH recommends 2% as I presume he is confident that his system has a positive expectancy. I have stuck with the 2% for NT. Each day, I place a second trade which is the MNT trade, which has a much higher success rate but poor R/R. So I am increasing my risk to 4% which is definitely higher then the amount recommended. The prudent thing to do would be to scale back to 1% on each system, which is still high at 2%.

I have been trading the system for about 10 weeks now and have made about 25% on my account. Or, to put another way, if I see 4 consecutive losing trades then I will be back where I started. I think someone looked at 5 years of NT data and found that there was one occassion with 5 consecutive losses. I feel comfortable with the increased level of risk but I agree that it isn't for everyone.

I hope I feel the same way in a few months time.
 
Rugby Trader said:
Hi Mr. Index, you're right in that most of us are new traders here. Have you any helpful links or pointers for us on MM and it's uses. I've been reading bits and pieces so far but haven't looked into it enough yet. I know MM is an essential part of being a trader so it is something I intend to learn a lot more about.
Click to expand...

MM is crucial, preserving capital is the name of the game. These links may help.
http://www.trade2win.com/traderpedia/Money_Management
http://www.trade2win.com/boards/planning-risk-money-management/
 
mark120169 said:
Congrats to all who banked with MNT today. I did not trade as MA was uncertain. :( I hope you all remembered the 33 stop as it was a sell order?

Anyway, will email RH and if the confirms he got today as a trade day I will update my MNT stats for June with todays win, if he agrees with me it was a No Trade day I will omit them. Same for my as yet unpublished INT figures, as if today was "officially" a trade day INT would have bank 25 pips too.

M
Click to expand...

I have just had a reply by email from RH.....he made it the same as me, MA was to undesisive today so he called a "No Trade" day. Although MNT banked for those that did trade it to keep comparison results "like for like" I wont be adding todays MNT or INT wins to my running tally's as to keep the comparison's fair they should all have no trade days.

M
 
I expect that it will be too much to expect Graeme to list all those who he wants to have prior access. So you will need to apply by selecting "Group Memberships" which is found in your "User Control Panel" or by clicking this link:

http://www.trade2win.com/boards/profile.php?do=editusergroups

Graeme will then have a list of people who have applied and will have the option to allow or disallow.

I would suggest to Graeme that he asks people who want to join to prove they are members of FNT in their application by making them state something from one of the pages of the manual which should be included in the application to join. It can be something quite simple and if not included then don't permit membership. It cannot be the responsibility of Graeme to chase people for this and if they don't include it then they don't get in.


Paul
 
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