Richard Hill Forex Net Trap

mark120169 said:
Don't you mean April highs of 15500ish ?

I lost a few hundred quid in May just after starting thinking it was a cool idea to take a 6month short position on the Euro / USD. Had 100 pip stop from entry and the Euro news was well bearish and we where losing loads on NT due to the Euro dropping.

Once it got to June and the Greek / PIGGS news died down the Euro bounced back and I got stopped out. Decided after that the 6 month positions on Forex was way beyond me a nd a true gamble, like a coin toss so did not do anymore.

However the idea of 6 month positions on things like shares which I understand better and have traded successfully since 07 (made £11k off £5k) sparkled my interest.

Took one Dec 10 long on BP when it was @ 500 stop 475. Got taken out. So decided to wait, took another @ 375 with 100 pip stop then saw to my horror it kept dropping and dropping. Once the news about the temp cap being successful came out in early June thought ok it will rise now and tried to take a second long with a 100 pip stop @ 340 but the market spiked on the monday and it got placed @ 363.

Then Obahma and the Yanks started really sticking it you BP and it dropped again to 300p. I was sweating but thought 300p must be a barrier.

When it rose and steadied above 300p took a third Dec 10 long @ 319pwith a 50 stop.

All three now in profit and i hope BP may be back to 450p by december or better.

This I am comfortable with as I feel I know shares much better. I also have a mate of a mate who is a oil trader for BP and he was not worried about the situation as he said BP has $1 trillion of assets.

M
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He he BP just went over 400p a share! :clap: Profit is now running @ £142 for these three longs. Gonna set a distance 50 step 10 trailing stop once each one reaches +100 pips. Could BP be back to 500p by November..........watch this space!

M
 
What's wrong with that? If you have a system telling you to buy when your dog ****s, you backtested it for a couple of years and see positive results, do you think those guys would not buy your puppy? Yes they may refine it by certain filtering, and this would perfectly explain why slippage does not occur every time NT is triggered. The basic principle is still there and it does work and hence the funds must be using it.
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I and many others have backtested systems that "Historically" made millions and I even posted one on these boards around 6 years ago. But when trying to use this going forward they never make the same profits as they did historically and ultimately lose.

Hedge funds have no interest in a simple MA system, if you don't believe that then check out the interview I did with a Forex Spot Desk trader. They live in a totally different world with information streams that you and I can only dream of. I am absolutely certain that the slippage people are experiencing has nothing to do with others using Forex Net Trap (FNT) at the same time. There are literally thousands of other Forex systems out there all trading against each other at various times during the day and across all continents of the planet. That also does not include those huge corporations who have to use currency exchange to pay their foreign employees or pay for foreign goods. They are often transacting in 10s of millions with no interest in speculation but who must have an impact on all of this.

The reality is that when you consider all of this then those that use this system will have an almost zero affect on being able to move a currency.


Paul
 
mark120169 said:
Ahhhh........so this in why my MAN Group shares have gone to crap........they have just realised that Berkshire Hathaway managed to get in on the NT offer before it closed and they didn't.

I wonder if Warren Buffet sends as snotty emails to RH as me? Can you imagine.

"Richard you asswipe, Warren Buffet here. BH just lost $30m on a cable trade last week that was clearly a sell by your system as the MA was clear by 1 with no oppossing candles but you made it a "no Trade" in the email my PA has just received.

I sacked my whole Cable Forex team because of this and some ****** took your book with him so now we are stumped and losing even more money, what was the MA we use again?

Please explain why it was a no trade or we take out a $1 billion class action lawsuit jointly with Bank of America, Barclays Capital and City Group you limey ****! "

:LOL::LOL::LOL:

M
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Good one, could be the basis for "Wall Street 3 - NT Traders need an afternoon nap". Oliver Stone might be interested.:whistling
 
Wagtail said:
I tested NT with eurjpy,just over a 6 month period and it was profitable (profit factor of 1.35) but nowhere near as good a scable.
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Forgot to post the equity curve for this. Here it is.

Incidentally, I also tested eurjpy as an evening strategy going in to the asian session using the same basis as NT, and it leached money away. So as it consistantly lost, I viewed it as a counter trend strat, and took it as a signal in the opposite direction, and it certainly made money, but will need a lot of tinkering with. May go back to it at some point.
 

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Tanguero said:
I have a simpler explanation for slippage. First, we have a system with a proven history. Second, it is available to the general market. Third, it is now relatively well heard of on the market. Now, do you think it's just the retail traders who bothered to buy the manual/piece it together from the posts here? I am sure there are already some hedge funds around who are trading it in earnest. IG just reacts to the general market pricing.
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No offence but that's complete nonsense on every point.

Firstly you dont have a system with a proven record, you have a system that the vendor says has a proven record but nobody can reproduce in real trading. You also have the vendor massaging the results in his favour which should be another giveaway.

Secondly there probably are a few hundred people that have bought it but how many of them still use it or even trade it with real money, probably a handful. Of that handful of people how many are doing more than 1 full lot, 1, 2 or more likely, none. How would that sort of volume move any market let alone the forex market.

Thirdly outside of this thread I have never heard of it and I read all the trading boards, there are 100 other 'magic' systems that are better known.

I can assure you that only inexperienced retail traders would buy something like this, anyone who is experienced/profitable knows all these systems are all just marketing crap designed to fool new traders into thinking they can make x number of dollars a month with 'just 15 minutes work a day' etc etc.

The reason you are getting slippage is because that's how retail forex/spreadbetting works. Your broker is inducing as much slippage as he can get away with and telling you some nonsense about 'current unprecedented volatility' etc etc.

If you think hedge funds with billions to trade are buying $300 software from some guy on the internet and are taking the same trades as you then you are seriously deluded.
 
pboyles said:
No offence but that's complete nonsense on every point.

Firstly you dont have a system with a proven record, you have a system that the vendor says has a proven record but nobody can reproduce in real trading. You also have the vendor massaging the results in his favour which should be another giveaway.

Secondly there probably are a few hundred people that have bought it but how many of them still use it or even trade it with real money, probably a handful. Of that handful of people how many are doing more than 1 full lot, 1, 2 or more likely, none. How would that sort of volume move any market let alone the forex market.

Thirdly outside of this thread I have never heard of it and I read all the trading boards, there are 100 other 'magic' systems that are better known.

I can assure you that only inexperienced retail traders would buy something like this, anyone who is experienced/profitable knows all these systems are all just marketing crap designed to fool new traders into thinking they can make x number of dollars a month with 'just 15 minutes work a day' etc etc.

The reason you are getting slippage is because that's how retail forex/spreadbetting works. Your broker is inducing as much slippage as he can get away with and telling you some nonsense about 'current unprecedented volatility' etc etc.

If you think hedge funds with billions to trade are buying $300 software from some guy on the internet and are taking the same trades as you then you are seriously deluded.
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How long does the system need to prove it has a track record? Its been profitable for 11 out of 13 months live, and backtested before that. My results last week were very similar to the vendors to within a few pips, and if you stick to the rules you will get similar published results.
There's been one instance of where the vendor appeared to vary from his own rules, to call a no trade, when we here all technically thought there was one. I hope it's a one off genuine mistake, whether it was or not I don't know...

The rest of the post is probably right though - but although the big boys aren't calling in Net Trap, I bet there are some of them doing the same trades at the same time, may be using different indicators, and getting the same results.
 
Well, I think I am now convinced by all the arguments that I can relax a bit - this system is traded by almost nobody, so it's here to stay and make us all a bit of cash!
 
pboyles said:
If you think hedge funds with billions to trade are buying $300 software from some guy on the internet and are taking the same trades as you then you are seriously deluded.
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Lol! - I love this banter :cheesy:

It is true that the big money players will most definitely not be using Net Trap... Why? Because...

None of the big money players rely upon a rigid mechanical system - flexibility is the key to trading all market conditions... Plus the amounts of money they place into the market WILL move the price... That predictable price movement generated can be itself be traded - and IS traded! Basic Demand and Supply in force here...

Enter Richard Hill (if that is your real name) stage left...

An ex fisherman who very conveniently likens his 'Net Trap' system to his old ways of catching fish... Everyday I have an email from someone apparently skilled within their normal (low paying and often dying) occupation turning to Forex / Sports betting and discovering the 'holy grail'...!

That said Richard Hill (or should that be the team at Shortcut Publications / Moremoneyreview (linked? - Surely not :D)... Have created a simple system probably created from the back test going back just a couple of years that has historic results...
Live results of course are different... Live results have shown promise too... June proved to be the worst month on record... But apart from that - promising!

So what of the future? Will NT continue to be profitable? One thing is for certain - there must be more doubters than followers for it to remain potent...

Will the big boys blindly follow Net Trap - no way! They are after *VERY* consistent but % wise small profits - they do not chase dreams... As they move large funds even a very small % profit is a substantial sum of money - given that if you have the power to move the market you also have the power to profit from the move created.
 
peterf1966 said:
How long does the system need to prove it has a track record? Its been profitable for 11 out of 13 months live, and backtested before that. My results last week were very similar to the vendors to within a few pips, and if you stick to the rules you will get similar published results.
There's been one instance of where the vendor appeared to vary from his own rules, to call a no trade, when we here all technically thought there was one. I hope it's a one off genuine mistake, whether it was or not I don't know...

The rest of the post is probably right though - but although the big boys aren't calling in Net Trap, I bet there are some of them doing the same trades at the same time, may be using different indicators, and getting the same results.
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So you have traded the system profitably for 11 of the last 13 months on your live account, is that what you are saying?
 
Hm. Left a limit sell @ 1.5038 SL 20 TP 40. Idea: Bounce off R1 down to S3. The price action looks too sexy not to try it.
 
Tanguero said:
Hm. Left a limit sell @ 1.5038 SL 20 TP 40. Idea: Bounce off R1 down to S3. The price action looks too sexy not to try it.
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You cheeky minx T............you are trying to tempt me I can tell. I will hold out for 10 mins until I can collect my daily cam setting data for the mornings trade, then I will check your progress.

Now I must say to my self 100 times over. "Net Trap / TNT is profitable so far no need to take punts at other times".

Then I will beat myself with a stick to make sure I don't punt anymore even though I made extra money off it the last 2 weeks.

I even pondered taking a long on Silver this evening as I read a few intersting facts about recent history, and I trade Gold and gold stocks but have not looked at Silver yet. After my success with longs on BP shares maybe I will punt a 100 pip stop on a six month long for Silver @ £1 pip. Undecided.

M
 
mark120169 said:
Now I must say to my self 100 times over. "Net Trap / TNT is profitable so far no need to take punts at other times".
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My results for 12th of July:

NT: +29 pips

Various other trades thinking I could out-think the market: -27 pips :cry: - and I was calculating my stake according to MM rules (2%) so my losses out-weighed my NT gains.

I've written it all down in my trading diary so next time I feel like having a wild punt in the market I'll have something to contemplate first.
 
My 2 cents on HFs using NT

Some members have sugegsted that HFsmight have puicked up NT and thats resulting in slippage. Being a person from the industry., I can assure you that with billions being traded, a few millions won't lead to slippage.
Some have scoffed at the idea that HFs buying a 300 GBP trading system to trade. But the NT system is very clever. RH has devised some simple rules which keep you on the right side of the trend with acceptable risk:reward ratio. And similar techniques are employed by many spot desks around the world to generate propreitery profits.
And please, its not like that every HF trading using sophisticated softwares to trade. Having quoted prices to some of the top and well-known HF traders and having met them personally, I know with greater degree of certainty that many use simple trendlines and good old supports & resistances to trade. Though as many have big volumes and interestd in less liquid curency pairs, they mostly trade on daily time frame.
 
Which way we going today guys? Looks like GU might be forming a holding pattern similar to last week.

Lol at all the talk about HFs. Why is people think because their a HF they must use incredibly technical strategies? The truth is hardly any HFs produce worthwhile gains.
 
Dubai said:
Which way we going today guys? Looks like GU might be forming a holding pattern similar to last week.

Lol at all the talk about HFs. Why is people think because their a HF they must use incredibly technical strategies? The truth is hardly any HFs produce worthwhile gains.
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I got nicely filled at night and so far the plan is working well: from 16:30, corrective move up with a likelihood of the 15:40-16:30 selloff being continued now.
 
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