Richard Hill Forex Net Trap

[dsinclair999]

My latest results.

Mon 29th Mar +56 pips (broke the rules a little)
Tue 30th Mar +38 pips (didn’t close trade until after 8.30, but would have been 36 pips about 10 secs earlier)
Wed 31st Mar – No trade - following the rules!
Thu 1st Apr - No trade - following the rules! (If I had traded I would have been stopped out)
Fri 2nd Apr +4 pips (should have been about 4-5 more, but Capital won’t let you set a limit order if the price is only 2 pips away, has to be about 6-7 away!) Probably shouldn’t have traded today anyway being a holiday.
Mon 5th Apr – Holiday – No trade
Tue 6th Apr – Stopped out for -30 Pips (Just took out my stop, then retraced back for about 54 pips, seems a bit coincidental, but probably bad luck!)
Wed 7th – No trade

Regards

DS

 

[DWL1712]

Could this be due to using the chart on 'mid price' as opposed to 'bid price.' Why should 'bid price' be used, as stated by some posters on here?

Should chart not be Bid for market going up and Ask for market going down? That was my interpretation.[/QUOTE]

This was the information supplied by client helpdesk at IG Index...

Thank you for your email.

That is correct Sir, the Bid price is the Sell price and the Ask price is the Buy price.

If you have any further queries please do not hesitate to contact us.

Kind regards

John Glenn
IG Index Ltd Client Services

 

[sunbeam2010]

no, it's because i'm an idiot, i took off 5 points when i should have taken off 2. I got it the wrong way round.

Hi Rugby Trader

I was wondering, given that you have made some great contributions to this thread whether you could offer your satisfaction with the system so far, I'd be interested to hear Peters views also, on balance would you rather get your money back or are you happy with your returns?

On a separate note, for all newbies I notice that there are great beginners 4-5 minute video tutorials on trading and forex at www.informedtrades.com (I don't work for them, am not affiliated to this site whatsoever)

Thanks again RT

Best wishes

Sunbeam2010

 

[dsinclair999]

My latest results.

Mon 29th Mar +56 pips (broke the rules a little)
Tue 30th Mar +38 pips (didn’t close trade until after 8.30, but would have been 36 pips about 10 secs earlier)
Wed 31st Mar – No trade - following the rules!
Thu 1st Apr - No trade - following the rules! (If I had traded I would have been stopped out)
Fri 2nd Apr +4 pips (should have been about 4-5 more, but Capital won’t let you set a limit order if the price is only 2 pips away, has to be about 6-7 away!) Probably shouldn’t have traded today anyway being a holiday.
Mon 5th Apr – Holiday – No trade
Tue 6th Apr – Stopped out for -30 Pips (Just took out my stop, then retraced back for about 54 pips, seems a bit coincidental, but probably bad luck!)
Wed 7th – No trade
Thu 8th +50 pips


Regards

DS

 

[peterf1966]

Hi Rugby Trader

I was wondering, given that you have made some great contributions to this thread whether you could offer your satisfaction with the system so far, I'd be interested to hear Peters views also, on balance would you rather get your money back or are you happy with your returns?

On a separate note, for all newbies I notice that there are great beginners 4-5 minute video tutorials on trading and forex at www.informedtrades.com (I don't work for them, am not affiliated to this site whatsoever)

Thanks again RT

Best wishes

Sunbeam2010

Hi Sunbeam - yep I am happy so far, so I won't claim my money back, it seems to be working as promised. Iv'e not made my money back yet, but should do, and anything after that is a bonus. As confidence and account grows, I think I will be happy to stake a bit more, and see where it leads.

 

[Rugby Trader]

Hi Sunbeam - yep I am happy so far, so I won't claim my money back, it seems to be working as promised. Iv'e not made my money back yet, but should do, and anything after that is a bonus. As confidence and account grows, I think I will be happy to stake a bit more, and see where it leads.

Hi Sunbeam,

My view is the same as Peter's>good luck with it.

RT

 

[sunbeam2010]

Cheers both

Many thanks for your replies and wishing you every success with your future trading

Best

Sunbeam2010

 

[davewuk]

thanks guys for the time and effort with the thread, I have just read it through this evening having got an email about this system today. Hope to join the system soon, your discussions are just the reflections from real users I needed to help me get a veiw about this system, before buying it with hard earned cash I could be spending on the kids.
thanks

 

[Tenapenny]

thanks guys for the time and effort with the thread, I have just read it through this evening having got an email about this system today. Hope to join the system soon, your discussions are just the reflections from real users I needed to help me get a veiw about this system, before buying it with hard earned cash I could be spending on the kids.
thanks

Dave,

By all means, purchase the system if you are happy with the reviews you have read but I would add this. If you are new to trading, don't invest money you cannot afford to lose. Trading should be treated as a business, it takes an investment in time and money to become reasonably competent to make consistent profits long term.

There is no "Holy Grail" system that will make you money long term. Markets change and what works in one point in time could wipe you out at some other point.

Good luck if you go ahead but please take heed: only invest money you can afford to lose.

 

[lazarette]

Good couple of weeks

Fri +50 (the chart was a bit flaky, but trusted the exact wording of the system and bought in)
Thu +50
Wed 7 no trade
Tue 6 April. +24
mon no trade (holiday)

Fri no trade (holiday)
1st April. -30
31st no trade
30 no trade (slept in, missed a 50 win)
29 April +23 (lost 7 by messing up the open )

So I'm up 117, the system is up 174 in the last 2 weeks. Wonder will this continue

Today was interesting, I came in 5 mins late, and had to pay 2 pips over where we were at 0630, but modified the stops to meet the recommended conditions at 0630 exactly. So I had to buy from the market, but I set the limit to +48. That was lucky, as I hit the limit +48, then the market turned

N

 

[lazarette]

There is no "Holy Grail" system that will make you money long term. Markets change and what works in one point in time could wipe you out at some other point.

Absolutely. I'm wondering will any system work when we get closer to a general election..

 

[Tenapenny]

Absolutely. I'm wondering will any system work when we get closer to a general election..

Yes, the "I'll sit this one out." trading system. Works every time in preserving your capital.

 

[peterf1966]

Yes, the "I'll sit this one out." trading system. Works every time in preserving your capital.

Like this morning, there was a very weak rise, virtually flat MA, with a slight fall at the last minute, so I went back to bed, after being tempted for a few seconds to place a buy order, so missed it today.

 

[lazarette]

Yes, the "I'll sit this one out." trading system. Works every time in preserving your capital.

Problem is with RPI at 4% and my bank paying 0.005% sitting out isn't really a great option either, but no doubt thats a different forum..

 

[dsinclair999]

My latest results.

Mon 29th Mar +56 pips (broke the rules a little)
Tue 30th Mar +38 pips
Wed 31st Mar – No trade
Thu 1st Apr - No trade
Fri 2nd Apr +4 pips
(+98 pips for the week)

Mon 5th Apr – Holiday – No trade
Tue 6th Apr -30 Pips
Wed 7th – No trade
Thu 8th +50 pips
Fri 9th – No trade
(+20 pips for the week)


Regards

DS

 

[barnesan]

This morning was an interesting one as I believe technically by the rules of the book (well my interpretation of them!), it was actually a trade - it didn't feel quite right though - I still went for it as am trying to stick exactly to the book during these early days and it turned out to be a good call for once (+40). Has anyone looked at the correlation between more borderline conditions such as this morning and success / failure - the book is quite specific on the conditions which intrigues me as my instincts say that if the line is tending towards being a bit wavery and a bit flat then it seems a bit dodgy, yet even in these conditions it must still make more than it loses else surely the rules would be a little harder in terms of number of pips the MA should rise / fall, consecutive drops etc. etc?? So by not trading on conditions like today are we in fact decreasing the overall potential or simply being sensible in terms of tweaking it for today's conditions?

Also, something I have repeatedly read is that these types of system are usually great for a defined timeframe and then the losses start outstripping the wins etc., when this happens, how many losses in a row do you sustain before calling time?

 

[whatreallymakesmoney]

My latest results.

Mon 29th Mar +56 pips (broke the rules a little)
Tue 30th Mar +38 pips
Wed 31st Mar – No trade
Thu 1st Apr - No trade
Fri 2nd Apr +4 pips
(+98 pips for the week)

Mon 5th Apr – Holiday – No trade
Tue 6th Apr -30 Pips
Wed 7th – No trade
Thu 8th +50 pips
Fri 9th – No trade
(+20 pips for the week)


Regards

DS

Good to know i'm not the only one breaking the rules every now and again. The system was (and is) very good at providing you entry signals, just think the exit doesn't suit all but still a very good, basic system. And if like you're relativley new to the world of FX it's £247 well spent. I've now covered my cost twice over and intend to spend the profit trying out another service Richard recommends.

 

[mebkhatri]

hello, being following this net trap system for a while. Just lost my job. Need to kick the habit of having a lie in and pay the bills. Will this work for me ?

 

[stricky1967]

good results this week.

mon. no trade (bank holiday)
tue. + 50 pts
wed.no trade, by the book I think
thur. + 50 pts
fri. + 50 pts, rising 40MA by around 5 points, if I remember, so looked a trade to me.
-total 150 pts
Hope next week is similar, fingers firmly crossed

 

[stricky1967]

Dave,

There is no "Holy Grail" system that will make you money long term. Markets change and what works in one point in time could wipe you out at some other point.

Good luck if you go ahead but please take heed: only invest money you can afford to lose.

agree re managing risk but this is marketed as a 'system' when really it's a 'strategy' and a pretty simple one at that