Richard Hill Forex Net Trap

[mark120169]

I agree, spot-on. Affordability is the key.

True. Not sure of the average age we are on here but I would guess around mid 30's to mid 40's.

Has anyone here around this age who bought their first house in their 20's no problems on average wages talked to couples in their mid 20's now about buying even a samll 2 bed house. They have no chance.

Whenever I say what happened to me and the then girlfriend in 1996 I get looks of disbeleif.

Had to have 10% deposit minimum. Interest rate was 6.5% not fixed FTB mortgage, 25 years. Only allowed to borrow x 2.5 joint or 3 x main + 1 x lesser income (remember that long term rule?). 2 bed semi in the South east bought on a joint income of £31k!

But.......the house only cost £55k, still took 18 months to save the £5k deposit though. But the mortgage was less than 2 x joint income. Like GF777 said. We need to get back to somewhere closer to this, if RENT / Mortgage payments are over 50% of family income life is really tough...and that's with interest rates @ 1/2%.

Again, had any converatiosn with peeps who maxed out in 2005-2007 have the calculated their mortgage @ 6.5% IR. You get glazed looks and "it will never happen comments". Then you say this was the IR I took my mortage out on in 1996, only 14 years ago.

M

 

[AngryDave`]

All very interesting but what does this all have to do with Forex Net Trap?

Just a small observation from me and a plea I suppose. This thread is massive and while there is some interesting information/views on here, a lot of it is completely irrelevant to Forex Net Trap. Can't help but think if this was on a forum that was properly moderated this would either have been shut down or constantly berated for 'thread creep'.

It's a little bit frustrating to come in wanting to catch up on this morning's action and have to wade through 10 pages of people talking about their personal trades that may have started off as an NT trade but now have nothing to do with it or even random overnight trades. If this thread was true to it's title then most of the action would occur between 0620 and 0840 with no mention of overnight trades or hanging in on the trades until lunchtime. I'm not saying that we can't discuss other variants of NT (MINT etc) but sometimes it goes too far. This whole forum is massive so surely you can talk about these things elsewhere?

I'm probably going to get moaned at for this but it really is quite frustrating that this thread is being taken over. Maybe I'll head off to the other forum that everyone complains about...

Sorry. Rant over.

 

[mark120169]

All very interesting but what does this all have to do with Forex Net Trap?

Just a small observation from me and a plea I suppose. This thread is massive and while there is some interesting information/views on here, a lot of it is completely irrelevant to Forex Net Trap. Can't help but think if this was on a forum that was properly moderated this would either have been shut down or constantly berated for 'thread creep'.

It's a little bit frustrating to come in wanting to catch up on this morning's action and have to wade through 10 pages of people talking about their personal trades that may have started off as an NT trade but now have nothing to do with it or even random overnight trades. If this thread was true to it's title then most of the action would occur between 0620 and 0840 with no mention of overnight trades or hanging in on the trades until lunchtime. I'm not saying that we can't discuss other variants of NT (MINT etc) but sometimes it goes too far. This whole forum is massive so surely you can talk about these things elsewhere?

I'm probably going to get moaned at for this but it really is quite frustrating that this thread is being taken over. Maybe I'll head off to the other forum that everyone complains about...

Sorry. Rant over.

Fair enough. Everyone is entitled to their opinion. I personaly think we are turning into a littlle NT trading community type thing.

Good luck if you want to go to the SFT forum but man that place is as boring as fook, a handful of posts between 6.30 and 8.30, nothing interesting, nothing learned. I have learned loads off all the stuff bounced around on here.

Ok a some off topic chatter after hours sometimes but do you really want it to be the SFT forum?

The new private forum will be more strict though I guess. When it appears?

M

p.s Are you always Angry Dave?

 

[Trader333]

There is a very logical reason behind it. I'm referring to CGT for people that own second homes. By increasing the amount people get taxed when they sell additional properties it will discourage property speculation and buy to let, 2 things that have contributed to sky-high property prices.

It will still require those with second homes to be in the higher rate tax bracket first and property speculation is all but dead with the 25% deposit killing off any of the previous practices as most people who were speculating on second homes did so with BTL mortgages and mostly at 100% or more. You only pay CGT if there is sufficient profit from the sale of the home and none of these recent speculations made any profit. Now most of these BTL speculators that I know of are already bankrupt so the CGT is a red herring in my view.

Those I know with multiple properties but unlike most no debt at all on them, wont be selling. I still think this whole this will be polarised with those higher up the property ladder just sitting tight.


Paul

 

[Hogs]

Fair enough. Everyone is entitled to their opinion. I personaly think we are turning into a littlle NT trading community type thing.

Good luck if you want to go to the SFT forum but man that place is as boring as fook, a handful of posts between 6.30 and 8.30, nothing interesting, nothing learned. I have learned loads off all the stuff bounced around on here.

Ok a some off topic chatter after hours sometimes but do you really want it to be the SFT forum?

The new private forum will be more strict though I guess. When it appears?

M

p.s Are you always Angry Dave?

I'd have to agree with Mark Model 120169. For pure entertainment value, you can't beat this thread. Ask Mark to explain his variants of NT with a negative risk to reward tested over 8 weeks.

Regarding SFT, certainly worth a look if you want a frank unemotional look at trading which is results focused.

 

[FxMax]

Dave & Mark, you both have a valid point/s.

I enjoy reading Marks' post out of the NT window & I have picked up a few good pointers from him and Tanguero etc. on extended forex trading throughout the day... Keep it up guys.

Dave, I do agree with you on the property subject. Irrelevant to NT & Forex, but hey, when the board is quite, why not? I skip over these if I'm not interested.

Max

 

[thelurker1]

Mark,

You took to your redundancy situation well, I like your spirit.

p.s That video can give Mr Hill a run for his money

 

[Tanguero]

On 'exotic' bets: I am actually mulling some sort of binary bets strategy based on NT.

 

[Tanguero]

Have checked daily charts. I reckon 80% chance to hit 15700 by the end of August.

 

[mark120169]

It will still require those with second homes to be in the higher rate tax bracket first and property speculation is all but dead with the 25% deposit killing off any of the previous practices as most people who were speculating on second homes did so with BTL mortgages and mostly at 100% or more. You only pay CGT if there is sufficient profit from the sale of the home and none of these recent speculations made any profit. Now most of these BTL speculators that I know of are already bankrupt so the CGT is a red herring in my view.

Paul

Apart from big BTLers with 100's of properties no smaller BTL Landlord should pay any CGT. It's soo easy to avoid, the polititions proved that in public!

Each time you by a BTL you open a new bank account registered at the new BTL address. Shortly after completion and before you get first tennents in you set up a 12 month redirection with the post office from BTL to where you live. Bung a tenner in the new BA for the BTL property. Always renew the DD each year whe the PO send you the reminder. Tennents never see your private post connected with the BTL as it always gets redirected.

When you want to realise the gain, 6 months before transfer your day to day banking from your normal bank account to the BTL bank account.

Sell BTL, don't tell taxman anything. 1 month after sale transfer banking from BTL BA back to personal BA. If the taxman comes looking show him the proof it was you primary residence for 6 months and give him 6 months of bank statements with all your personal banking on it at the address of the BTL.

Rinse and repeat. No CGT on the sale of a primary residence.

Simples.

M

 

[BigBrassBalls]

So that's how you got that 5 Bedroom house!

 

[mark120169]

Those I know with multiple properties but unlike most no debt at all on them, wont be selling. I still think this whole this will be polarised with those higher up the property ladder just sitting tight.


Paul

Oh how i'm jealous of these guys, or any BTLer who got in before 2004.

It matters not if these guys don't sell. The value of a house is only worth what someone is willing to pay for it at exchange of contracts. Anything else is market speculation and theory for insurance purposes.

Again If these guys have no mortgages on the BTL properites then their income if 100% from rent, captial price is not important.......until you sell. If they all fall 40% in market value over the next 5 years that is nothing comapred to the 200-300% gains they made from 1994 to 2004. They will come back to 2007 prices between 2017 and 2020.

Of course the real problem is if prices drop 40% the many renters find themselves in the situation I was in in 1996 when it was suddenly cheaper PCM to have a mortgage @ 6.5 % than pay rent.

Can you imagine if you could buy say BP shares now with a 100% bank loan based on future earnings and capital appreciate they should make in 25 years time. Then rather than pay back the loan you rent these shares to someone for some reason i can't think of this late and over 25 years THEY pay off the bansk loan.

Then you say thanks very much, take the BP shares back and sell them and keep the profit. So do you care if in 10 years time after rising 300% the shares drop 40% for a few years. You shouldn't.

God i wish I was aware of BTL when the deregulated the market to create it in 1998.

M

 

[mark120169]

So that's how you got that 5 Bedroom house!

Nah......the first wife was insured for a rather large sum of money and had a very unfortunate fatal accident. :whistling

As the old saying goes, never let your spouse know you are worth more dead than alive.

M


p.s. This is a joke! , had a few beers!

 

[Melb]

Nah......the first wife was insured for a rather large sum of money and had a very unfortunate fatal accident. :whistling

As the old saying goes, never let your spouse know you are worth more dead than alive.

M


p.s. This is a joke! , had a few beers!

Few Rum n Cokes for me - that will put me in good stead a few hours from now - now how many ma's were there?

 

[premierpip]

i would like to ask, does your Richard Hill Net Trap comes in hardcopy? and how many pages are there?

 

[premierpip]

i'm reading through the thread and am on page 33 now. can wait to finish the thread. it's really interesting. it's like reading the life of s forex trader. lol. can someone give me some hint, is it a happily ever after? because i'm at the part of the story where people start to keep the results to themselves after blackswan talk some sense into the thread. i'm gonna head back and continue now!

 

[bombettor]

No trade today??

 

[Tanguero]

I might be getting cocky but ... in @15270 SL 20. A lot of unfinished business today - we haven't seen 15300 nor the 15325 I expected to see yesterday. R4 15327. Although there is no signal so far I read the market action as quite compact and regular, so good chances not to be stopped out.

 

[Denman]

No trade today??

Why?.. Surley we're going long.

 

[insidergates]

No trade today??

ma rising so its a long trade for me today