Lord Flasheart
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yep,most of the time most firms are ok,and yes they also want you to win as well.
yep,most of the time most firms are ok,and yes they also want you to win as well.
Me Too
, due to the resistance around the 1.50 i am only using MNT also i don't wait till 6.30 , this morning i placed at 6.26am and got 48.Rugby Trader
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out for -5 today.
this heat is really affecting me, i'm getting no sleep at the moment which has caused me to make a load of mistakes today.
entered at the wrong price, entered half my usual stake amount, got out 12 minutes too late which turned a small profit into a loss.
oh well. i think i'll have to start getting up a little earlier so i can be more alert when entering my trade.
this heat is really affecting me, i'm getting no sleep at the moment which has caused me to make a load of mistakes today.
entered at the wrong price, entered half my usual stake amount, got out 12 minutes too late which turned a small profit into a loss.
oh well. i think i'll have to start getting up a little earlier so i can be more alert when entering my trade.
think yourself lucky... a few days ago a slip of the finger and 1 became 11.... and then I walked away
peterf1966
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Me Too
Nice one, you used MINT!
If I was doing it correctly, the Cam level R3 was at 15034, and it got to about 15030 before the rebound, which I did not bother to get on, so 10 pips target fromt the 48 level was do-able, where as I had to bottle it as I was a bit late in at 40. Things are very tight at the moment.
Tenapenny
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The problem with a lot of these type of sytems is they often overlook the basics i.e. s/r, t/l or even a fibo if you use them. Trader discretion is advised. A quick look at s/r on higher t/fs this morning would have told you the probable moves. Looking right now it is testing support again. Here's a chart I made earlier.
Attachments
Hi Tenapenny. For us newbies that are interested in learning more about technical analysis can you explain the thinking behind your chart please?
Tenapenny
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Ok. I'm not at my dek at 06.30 but if I were I would be looking at this, as it suits my trading style but it might not suit you.
I draw diagonal trendlines, you would need to zoom out on the example to see it totally but I hope you get my point, after that I put in any horizontal support or resistance to possibly confirm where price may go. The fib levels just guide me to where the retracements may go.
So, at 06.30, in my opinion (had I got out of bed
) I would have been looking for price to make a move down towards the trendline then retrace up towards the 50% fib level. My orders would of been set at buy @ 1.5030 (just above resistance), stop-loss @1.5015 (just above the bottom of the 0 fibo line, target 1.5065 (just below 50% fib line, which is a very important number the way I trade).I also keep an eye on USDX (dollar index) to help see the strength of USD.
This is how I WOULD have played it, but as I don't trade that early it is hindsight, which is a wonderful thing. However, it is not NT so don't get bogged down to much disussing this in the thread. By the way, I use MT4 for charts. Hope this helps.
peterf1966
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Cheers yet again Tenapenny, testing the resistance and dropping right through on its way to my R4 point from this morning - I decided a quick trade once it was on its way back up at about 14995 and did 40 pips in about 2 mins.
Does nowt for day job productivity though!
Tenapenny
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Cheers yet again Tenapenny, testing the resistance and dropping right through on its way to my R4 point from this morning - I decided a quick trade once it was on its way back up at about 14995 and did 40 pips in about 2 mins.
Does nowt for day job productivity though!
Well done.
rob the bank
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Hi there,
I am relatively new to trading and have been spreadbetting / trading for about 6 months.
I hve recently read about a thing called "Richard Hill Forex Net Trap" that promises to show you a system to make moey on US$/£ trading with just 10-15 mins. early morning trading. They want to charge me £250 to sign up but what they do not tell me is how much deposit money I would need in my trading account to make £10-20 per pipp trades. I suspect I would need to have a large amount lodged to do this.
The promoter (Agora) ofers money back guarantee but not of coarse the money I loose.
Does anybody have any experience of this system?
Hope this provides some help
Net Trap Results July to December 2009
July +410
August +257
September+120
October +56
November +221
December +12
Total +1076 Pips
Trade Days 126
Pips gained per day +8.5
Trading @ £2/point(Bank required £3K)
ROI/Gain = £2,152 (71.7%)
Trading @ £10/point(Bank required £15K)
ROI/Gain = £10,760
Net Trap Results January to June 2010
January +125
February -29
March +154
April +139
May +37
June -72
Total +354 Pips
Trade Days 104
Pips gained per day +3.4
Trading @ £2/point (Bank required £3K)
ROI/Gain = £708 (23.6%)
Trading @ £10/point (Bank required £15K)
ROI/Gain = £3,540
ROI = Return on Investment
everydaytrader
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Would be nice if July 2010 results can match July 2009 or even come anywhere near them.
Denman
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Rob The Bank. Thanx for your post and if they(results) are correct they are very encouraging for us 'newbies'.
And for those that don't do maths
71% means you'd double your money in less than a year
23.6% means it'd take just under 3 years
where else will you get that kind of return?
keep the faith
MikesDirect
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G'day ladies, Sirs & Lurkers,
Just my humble opinion and observations if I may and particularly for the benefit of newbies!
I personally think that those still eligible for a refund for NT should claim it back asap! I can't remember who "invented" MNT off the top of my head but I would suggest "tipping" this guy out of your refund. How much? Well that's up to you but certainly NOT £247! I reckon around £50 would be a princely sum in gratitude for the MNT system in view of the amounts you are almost certainly going to lose with Vanilla NT! MNT is far more realistic and achievable although I’m still a little nervous with the 33s.
Let me be clear: I am NOT saying this because of the current "loss of form" of NT. ANY Forex system will have it's bad days and bad runs. However (as previously mentioned several times), I think NT is fundamentally flawed in its profit goal of +50 pips given the relatively short timescale that it is designed to operate over. +50 pips goal every trade??? Yeah and pigs will fly!!!
In my humble opinion, the advertising hype of NT is simply yet another system (among hundreds, even thousands) that "promises" far too much and raises false hopes and unrealistic expectations, particularly where newbies are concerned.
After 12 years in the Forex Market, I personally wouldn't pay a penny for any system, particularly from those claiming to be "experts" in the field of Forex. After all, "x" is an unknown quantity and a "spurt" is a drip under pressure!
I still think we have the makings of a great group of guys and chapesses here, experienced and newbies alike, and I hope that in time, we will all become ONE FORUM of committed people who can all learn from each other and share our different Forex systems. I'm afraid I still have to chuckle at those wanting their Private Forum given that many of us know exactly how NT works. Feel free to “test” me on this! In any event, NT is becoming anything but NT!
By the way, those who were prepared/able to hang in for +10 pips profit would have easily achieved this today. A maximum profit of around +63 pips was available at 10.00am.
In closing, I repeat again that NT's +50 pips goal is "Clap Trap!" Guys, you need to develop whatever system you are using to go for +5 to +10 pips REGULARLY. It's much better to go for smaller, regular pips and increase your stake when you are comfortable with your trading style. If MNT can deliver +10 pips regularly, then you can think about increasing your stake from maybe £1 up £10 to start with. Compound your stake with your profits (risking no more than 2% of your bank) and you can then think about £10 to £20 per stake and even more!
For goodness sake, FORGET trying to make +50 pips profit with any system: “Mighty oaks from little acorns grow!” Just my humble opinion and advice.
Good day to you Ladies, Sirs & Lurkers!
Mike
Ps: I think it’s a disgrace that RH doesn’t have an input in this Forum! And yes, why can’t he announce in the Forum at 6.15am whether it’s a Buy, Sell or No Trade??? If he had that much confidence in his OWN SYSTEM, then that would be the least he could do for his “loyal members.” But then again, we all know the reason why he won’t … !!!
Just my humble opinion and observations if I may and particularly for the benefit of newbies!
I personally think that those still eligible for a refund for NT should claim it back asap! I can't remember who "invented" MNT off the top of my head but I would suggest "tipping" this guy out of your refund. How much? Well that's up to you but certainly NOT £247! I reckon around £50 would be a princely sum in gratitude for the MNT system in view of the amounts you are almost certainly going to lose with Vanilla NT! MNT is far more realistic and achievable although I’m still a little nervous with the 33s.
Let me be clear: I am NOT saying this because of the current "loss of form" of NT. ANY Forex system will have it's bad days and bad runs. However (as previously mentioned several times), I think NT is fundamentally flawed in its profit goal of +50 pips given the relatively short timescale that it is designed to operate over. +50 pips goal every trade??? Yeah and pigs will fly!!!
In my humble opinion, the advertising hype of NT is simply yet another system (among hundreds, even thousands) that "promises" far too much and raises false hopes and unrealistic expectations, particularly where newbies are concerned.
After 12 years in the Forex Market, I personally wouldn't pay a penny for any system, particularly from those claiming to be "experts" in the field of Forex. After all, "x" is an unknown quantity and a "spurt" is a drip under pressure!
I still think we have the makings of a great group of guys and chapesses here, experienced and newbies alike, and I hope that in time, we will all become ONE FORUM of committed people who can all learn from each other and share our different Forex systems. I'm afraid I still have to chuckle at those wanting their Private Forum given that many of us know exactly how NT works. Feel free to “test” me on this! In any event, NT is becoming anything but NT!
By the way, those who were prepared/able to hang in for +10 pips profit would have easily achieved this today. A maximum profit of around +63 pips was available at 10.00am.
In closing, I repeat again that NT's +50 pips goal is "Clap Trap!" Guys, you need to develop whatever system you are using to go for +5 to +10 pips REGULARLY. It's much better to go for smaller, regular pips and increase your stake when you are comfortable with your trading style. If MNT can deliver +10 pips regularly, then you can think about increasing your stake from maybe £1 up £10 to start with. Compound your stake with your profits (risking no more than 2% of your bank) and you can then think about £10 to £20 per stake and even more!
For goodness sake, FORGET trying to make +50 pips profit with any system: “Mighty oaks from little acorns grow!” Just my humble opinion and advice.
Good day to you Ladies, Sirs & Lurkers!
Mike
Ps: I think it’s a disgrace that RH doesn’t have an input in this Forum! And yes, why can’t he announce in the Forum at 6.15am whether it’s a Buy, Sell or No Trade??? If he had that much confidence in his OWN SYSTEM, then that would be the least he could do for his “loyal members.” But then again, we all know the reason why he won’t … !!!
Hi Mike,
interesting and I have to say I agree with a lot of what you write, but a few comments questions given your experience
".... although I’m still a little nervous with the 33s"
How would you recommend people place their stops? we've seen big swings and small swings, so any less and people might get stopped out more often.. How or what to do when the majority are not able to, or want to, monitor the trade and adjust manually?
And even then, given the swings we've had and the platform most use *IG Index etc, do you have any suggestion of a better way?
Following on from that
"....A maximum profit of around +63 pips was available at 10.00am."
Again, for those that cant watch, how would you see a way of catch the bigger move?
And as to the 50 pips every day, no you're right, never going to get there. But, how do you best capture those that are available during the time frame.
And lets not forget, even if you dont get the full lot, the system has proven profitable over period its been running (see the other posts for results etc). For people that know nothing about forex, some that dont care even, its a very simple way to 'invest' that's giving returns far better than any bank
In terms of Richard, I actually dont care if he's here or not, or whether people have bought the book. I did because I respect people's intellectual property, but likewise I'm sure I've learned a few systems via the back door over the years.
It doesn't matter really, they come, they go, you try them, you move on etc etc - But I will say this - you have to ask why would you sell and system and then give the signals away free on a forum
All in the spirit of peace love and education
pseudo straddle
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But he has !
Posts #3, #9, #11 and #472 were by breakthrough40 who claims to be RH.
:whistling
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