Richard Hill Forex Net Trap

[goldfinger777]

INT has a variable across different people, that you enter at a level that will vary depending whether its 6.25, 6.28, 6.31 or whatever. Should you (just to compare like for like each day, and not with vanilla NT) enter the market bang on 6.30 every day, or am I being pedantic? As we know, a few pips difference could be the difference between -30 and +25.

yes you're right a few pips can make the difference. In this respect, INT is not 100% mechanical and ultimately you have to use your own discretion as to entry point.

All I can say for sure is that I've been entering in June between 6:27am and 6:33 am, and this level of variance worked pretty well.

If you're looking for consistency you could always use an atomic clock and get in at 6:30 on the nose every day.

 

[gbdru2]

p.s Thanks for defending us a bit on the SFT forum. I agree with you. They are waining with the purity, soon as Peter would say " They will turn to the dark side of the Net Trap Force"[/QUOTE]

Well call a spade a spade I think... They are going through the same process this forum has, get the system, see some holes and try and plug them... Thats pretty much whats happened here - I cant see any real difference, we've just had more time to discuss and explore..

But peace and love.. someone needs to keep people on the straight and narrow

 

[goldfinger777]

What's your criteria for this? Aren't they an hour ahead of us so you're effectively dealing at a different time of day?

The only reason I use the same 6:30am entry time is because I'm up at that time to trade GBP/USD anyway.

It's possible that trading at a different time with EUR/USD would yield even better results, but I haven't tested that.

All I can say for sure is that I've traded MINT on EUR/USD at 6:30am on days when its been a "no-trade" day by the official NT rules, and it's worked out pretty well.

 

[peterf1966]

yes you're right a few pips can make the difference. In this respect, INT is not 100% mechanical and ultimately you have to use your own discretion as to entry point.

All I can say for sure is that I've been entering in June between 6:27am and 6:33 am, and this level of variance worked pretty well.

If you're looking for consistency you could always use an atomic clock and get in at 6:30 on the nose every day.

Ok I was being pedantic, but I'm not knocking INT in anyway.

On the R/R 25/-30, I compare these to odds when I used to gamble on horses - I would never bet odds on, on general principle, as it was usually a very poor value for money bet, and I thought the mug punters who did do deserved the crap value they got, since they couldn't work out what the bookies over-round was, or even knew what it was anyway.

However, although INT is bet 30 to win 25, is technically 'odds on', I don't feel the same rules apply in SB, as they do with fixed odds.

 

[Wagtail]

I don't know, it needs back testing.

Personally I'm very comfortable with the R:R I get from a 30pt stop and 25pt limit. Many traders would be very unhappy with this ratio, but certainly in the case of June the results speak for themselves.

Ultimately, it all depends on your personal attitude to risk.

An INT loss only puts you back a little over 1 day's worth of profit. If you are running sensible risk management on your trading account (i.e. ideally 1% MM, but certainly no more than 2% MM), then with INT's average win rate I would say the risk is actually pretty low.

As myself and others on this forum have said several times, only time will tell. And only you know what your personal attitude to risk is, and whether it matches the INT approach.

If you personally consider the INT strategy to be too risky, then you shouldn't trade it. Simple as that.

Done alot of back testing on INT now and it's far far superior to MNT in terms of profitability. Reducing the stop cuts off too many winners.Still not as profitable overall as original NT, but a higher win rate means easier psychologically to trade.

 

[gbdru2]

I don't know, it needs back testing.

Personally I'm very comfortable with the R:R I get from a 30pt stop and 25pt limit. Many traders would be very unhappy with this ratio, but certainly in the case of June the results speak for themselves.

Ultimately, it all depends on your personal attitude to risk.

An INT loss only puts you back a little over 1 day's worth of profit. If you are running sensible risk management on your trading account (i.e. ideally 1% MM, but certainly no more than 2% MM), then with INT's average win rate I would say the risk is actually pretty low.

As myself and others on this forum have said several times, only time will tell. And only you know what your personal attitude to risk is, and whether it matches the INT approach.

If you personally consider the INT strategy to be too risky, then you shouldn't trade it. Simple as that.

No, I quite like it. I actually use larger stop losses anyway but adjust the MM% so the overall monetary risk is about the same. It has saved me a couple of times when some have been stopped out at -33 etc and my stops were further out. I decided long ago that the idea of risking x to win y was far less important than the probability of the stop being hit in itself. probably not many will agree but it works for me

 

[goldfinger777]

Done alot of back testing on INT now and it's far far superior to MNT in terms of profitability. Reducing the stop cuts off too many winners.Still not as profitable overall as original NT, but a higher win rate means easier psychologically to trade.

Hey, thanks for back testing Wagtail, much appreciated.

Please can you be more specific and perhaps post some brief results? For example, when you say that INT is not as profitable overall as vanilla NT, by how many points and during what period?

Thanks.

 

[Rugby Trader]

INT has a variable across different people, that you enter at a level that will vary depending whether its 6.25, 6.28, 6.31 or whatever. Should you (just to compare like for like each day, and not with vanilla NT) enter the market bang on 6.30 every day, or am I being pedantic? As we know, a few pips difference could be the difference between -30 and +25.

I would say in order to make it comparitive with NT and everyone else's notes, we should just assume open on 6.30.

 

[mark120169]

No, I quite like it. I actually use larger stop losses anyway but adjust the MM% so the overall monetary risk is about the same. It has saved me a couple of times when some have been stopped out at -33 etc and my stops were further out. I decided long ago that the idea of risking x to win y was far less important than the probability of the stop being hit in itself. probably not many will agree but it works for me

I agree too. Since mid June I run a higher custom stop than 30 /33 but don't need to use it often, but being a risky bugger keep the same stake for higher MM%.

Being stoped out is my utimate pet hate, I take a standard loss like a man but getting stopped out I spit like a hissy girl.

M

 

[mark120169]

I would say in order to make it comparitive with NT and everyone else's notes, we should just assume open on 6.30.

This is what I record daily. The 6.30 1 min candle median price as the logged entry for my INT data. Everyone will get something different as there is always 2-3 pips spread @ 6.30.

There have been no INT close calls yet to give rise to false recording, it either banks convincigly, stops convincingly or takes a standard loss (once).

M

 

[Rugby Trader]

Mike,

There's a difference between aim and claim.
The aim is to make to 50 pips a day.
There has never been a claim that it does make 50 pips a day though.

 

[MikesDirect]

Mike,

There's a difference between aim and claim.
The aim is to make to 50 pips a day.
There has never been a claim that it does make 50 pips a day though.

Point taken as in hindsight, I deleted my post. I still think that the +50 pips aim/claim is "Clap Trap"

Good day Sir,
Mike

ps: Just going for a wander over yonder to see what the other guys are up to with "Vanilla Clap Trap"

 

[goldfinger777]

Done alot of back testing on INT now and it's far far superior to MNT in terms of profitability. Reducing the stop cuts off too many winners.Still not as profitable overall as original NT, but a higher win rate means easier psychologically to trade.

Perhaps most importantly, has INT ever finished a month in negative points territory, for your backtest period?

 

[Wagtail]

Hey, thanks for back testing Wagtail, much appreciated.

Please can you be more specific and perhaps post some brief results? For example, when you say that INT is not as profitable overall as vanilla NT, by how many points and during what period?

Thanks.

I'll put something together for next week, but INT is the best yet, but all variants have not proved as profitable as NT, but as I say the pschology might be easier for some to trade. The R:R is the key factor.

I'm working on one that's giving better results than INT and nearly as good as NT, but with a higher win rate, so much nicer to trade. Only 1 year of data done so far though, so alot more work to do.

 

[goldfinger777]

I'll put something together for next week, but INT is the best yet, but all variants have not proved as profitable as NT, but as I say the pschology might be easier for some to trade. The R:R is the key factor.

I'm working on one that's giving better results than INT and nearly as good as NT, but with a higher win rate, so much nicer to trade. Only 1 year of data done so far though, so alot more work to do.

Sweet, nice one Wagtail :clap:

 

[piphead]

p.s Thanks for defending us a bit on the SFT forum. I agree with you. They are waining with the purity, soon as Peter would say " They will turn to the dark side of the Net Trap Force"

I think it's good to see people thinking for themselves although the system works with consistancy I have learned alot from the people on this forum and it's nice to find other learners so we don't have to ask professionals questions they would laugh at.
Life continues because of evolution and were evolving- sounds like that other forum isn't that advanced yet

 

[ncoyne]

On average how much do you traders make in one month with the the net trap

 

[mark120169]

On average how much do you traders make in one month with the the net trap

Depends when you started, if you use any tweaks, and what your stake pot is.

In pure pips best to look at the roundup I did somewhere around 7th June for 12 months of Vanilla NT results, but May and June VNT have been pants.

M

 

[gbdru2]

On average how much do you traders make in one month with the the net trap

Everyone is different because its all based around how many pips you make. Some risk 50p per pip others 20.00 or more...

As a rough guide,
A - how much money can you lose and not worry about?
B - how risky are you, - not a lot (1%) medium (2%) whatever (3%)

multiply A x B and thats how much you risk each day

divide by 30 and thats your bet per pip (standard rules)

So, me.... very very poor...

A - 100.00
B - 3%

= 3.00 risk per day

/30 = 10p - so I bet 10p per pip

how much you win depends on how many pips we make on average (which depending on which version of the system you use, is slightly different)

The pips returns are posted on here every week

 

[pseudo straddle]

it's nice to find other learners so we don't have to ask professionals questions they would laugh at.
:

In My Humble Opinion - They ain't very professional if they laugh at NQs!