Richard Hill Forex Net Trap

Melb said:
Ah! But that would be 'proper trading' and not NT :D ... It is a market of mixed signals - my NT head took me into the trade - my intuition was not to trade... So I am happy with +10 as it could now go either way and I possibly have cut my NT profits short - but profit is profit so happy...
Click to expand...

Made do with +1.8
 
+6 thanks to the last minute spike down, tempted to let it run a little longer but decided to take the profit and end a poor run.
 
everydaytrader said:
+6 thanks to the last minute spike down, tempted to let it run a little longer but decided to take the profit and end a poor run.
Click to expand...

TNT 60/60 +15.3

NT +5.3

MNT +10

Never been happier for such a small amount of pips, hopefully this has now broken the duck of the last week. Maybe we will go though this all again if we get up to $1.60?

I wonder if their is a patern of NT losses around each $10c limit point? We never got to $1.40 on the way down so this will be interesting to monitor on the way back up.

M
 
Tenapenny said:
Post a chart and explain your analysis, it will help you further on your forex journey.
Click to expand...
Good idea, father :). Can't do it at work. And IG freezes down for some reason today, does not let me in to move my stop!! Can only see that my target has been missed by 2pips so far. Anyway, the idea is more intuitive that chart-based: we are within 1.5100 - 1.5000 range, started at the top with some bearish signs within the early morning consolidation area, then indecisive move to 1.5050, missed it by a pip, an abc retracement up and then decisively back to 1.5050. Common sense suggests that the bottom is more likely to be tested next than the top, at least where the yesterday's lows are.
 
There are some interesting comments in RH's weekly epistle on marginal signals- clearly something to get our heads around. Through sitting out or taking straddle positions when I didn't believe , and as Missionary puts it 'nursing trades along'
I managed to end up +27.5 for last week on my NT account ,though little of what
I did bore much relevance to the manual ,apart from getting up at sparrow-phart.

:cool:
 
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Just had official results for last week, from RH, and I see he made Friday a no trade day because of the indicisive MA. I have emailed him saying he can expect a lot of emails from the T2W forum asking for an explaination.
 
Tanguero said:
Good idea, father :). Can't do it at work. And IG freezes down for some reason today, does not let me in to move my stop!! Can only see that my target has been missed by 2pips so far. Anyway, the idea is more intuitive that chart-based: we are within 1.5100 - 1.5000 range, started at the top with some bearish signs within the early morning consolidation area, then indecisive move to 1.5050, missed it by a pip, an abc retracement up and then decisively back to 1.5050. Common sense suggests that the bottom is more likely to be tested next than the top, at least where the yesterday's lows are.
Click to expand...
Yes! +67. Net Trap rules!
 
Well, I'm glad some stuck it out till the end. I thought it was going to be another -30, so bailed out about 0810 for -12.

Was thinking, about 0745 I was +18 pips, could I then reduce my stop loss to 15 pips and keeping the limit to 50.

Therefore in the worst case I'd be +3 pips, best case +50 pips or would it change something else. Am using the limited risk account.
 
Melb said:
Ah! But that would be 'proper trading' and not NT :D ... It is a market of mixed signals - my NT head took me into the trade - my intuition was not to trade... So I am happy with +10 as it could now go either way and I possibly have cut my NT profits short - but profit is profit so happy...
Click to expand...

Point taken Melb. But I also learned the 'system' at K2A and prmptly lost 600 quid. Since then I learned that when the market is jumpy one does not need to be far from the screen. Call it nursing, day trading, or just watching one's own capital interests.

OK NT is set and leave, but most here are agreeing that the past 2 months have not been to the blue book. Yes I could have set it today and gone back to bed (my wife is 16 years younger than me - good reason!). But there again, the old zimmer frame is in dock in the bodyshop and needs paying for. It would have all gone had I been snoring. But I made a cuppa and sat down, watched the screen and moved my limit and stop to encourage IG Index to allow me to lock-in the profit. It paid-off, nothing wrong in that.

Are we doing this for fun or serious profit? Its profit for me and the sooner I can earn a living sitting on my little balcony by the Med the better. Each to his own method.

mish
 
stevepatt said:
Just had official results for last week, from RH, and I see he made Friday a no trade day because of the indicisive MA. I have emailed him saying he can expect a lot of emails from the T2W forum asking for an explaination.
Click to expand...

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. :mad:

M
 
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missionary said:
Point taken Melb. But I also learned the 'system' at K2A and prmptly lost 600 quid. Since then I learned that when the market is jumpy one does not need to be far from the screen. Call it nursing, day trading, or just watching one's own capital interests.

OK NT is set and leave, but most here are agreeing that the past 2 months have not been to the blue book. Yes I could have set it today and gone back to bed (my wife is 16 years younger than me - good reason!). But there again, the old zimmer frame is in dock in the bodyshop and needs paying for. It would have all gone had I been snoring. But I made a cuppa and sat down, watched the screen and moved my limit and stop to encourage IG Index to allow me to lock-in the profit. It paid-off, nothing wrong in that.

Are we doing this for fun or serious profit? Its profit for me and the sooner I can earn a living sitting on my little balcony by the Med the better. Each to his own method.

mish
Click to expand...

You did the Knowledge to Action course? Did you know the FSA issued an alert about them?
 
mark120169 said:
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. :mad:

M
Click to expand...

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....
 
stevepatt said:
Just had official results for last week, from RH, and I see he made Friday a no trade day because of the indicisive MA. I have emailed him saying he can expect a lot of emails from the T2W forum asking for an explaination.
Click to expand...

Really poor from RH, Friday was a trade by the NT rules, yes it was a weak signal but
a trade nevertheless.

Maybe he is losing faith in his own system or under pressure from agora to make the figures better than they really are. Funny how the weekly email was late this time
maybe they were debating what to do.
 
mark120169 said:
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. :mad:

M
Click to expand...

I wasn't around on Friday (on holiday) but i've just had a look at the chart and I think I would have called that a no-trade as well. I'll have to go have a look at the book again tonight to make sure though.
 
pboyles said:
You did the Knowledge to Action course? Did you know the FSA issued an alert about them?
Click to expand...

No I didn't PB.

I took a re-sit in February and then the markets went haywire as we all know. That is why I went to Forex. In fact at the re-sit the presenter Gary told us that they were all earning from Forex in the office and not so much on the FTSE 350. Nice to tell us that when we were on a FTSE course. Others signed-up for the forex course to blow another 2250 quid, but I thought that was stupid given that we had learned a lot and had over a year of experience in the market. And so it has proven, though I must admit that I am looking for the next stage in Forex as it were. At 5 quid a pip I want a minimum of 150 pips a week to keep me in the syle to which I am accustomed ;)

mish
 
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