Richard Hill Forex Net Trap

Hello there, I have started Net Trap today. This is a completely system trade. Yes set up can be done in 5 minutes. The things I need to learn is NOT to watch the screen after the setup. lol (This is what actually Richard says… )

There are no inconsistencies and the contradiction as such of his system. I guess that’s why Richard did not reply here. As the stop loss is preset, in that sense, capital risk management would be more flexible in practice but Richard is very conservative and recommends 2 % correctly. There are a couple of simple criteria to perform trading. I found this increase the success rate.

Last thing I would like to mention is that I have received a weekly email report, including the actual trade results in the last week! This is a LIVE system not a simply selling product at all. Hope this helps.
 
Zcar

Please note I am still learning this system. I am going to check my setup with Richard's next week report; I need to clarify some non trading decision. (Please note the system itself is VERY SIMPLE and CLEAR, but I need to get used, including getting up early morning.)

As far as I know, this week results is 40-50 pips profit (and nearly get another 50 pips, if I am correct). You would expect there are many non trading days. The manual shows the August trading results (20 days + 257 tips) and there were 8 no trading days.

The system implemented two levels of risk managements. Firstly set up your trade only if the criteria meet, and secondly preset stop loss. It seems that the worst scenario for the system would be many non trading days (far better than losing money). Although this is my first week, I am comfortable with this system (as below this is important to me) .

By the way, I read Nassim Nicholas Taleb’s books. Basically he said somewhere it is better to fit the trading system to your mentality or life style, not other way. In my case, I am completely mad to monitor continuous updating chart and tired and with bad results; but I am so happy to analyse daily chart and doing well for 2-3 weeks basis trading.

My mentality won’t fit to a daily trading at all. Then I have found the Net Trap system. Each trade completed less than 3 hours without monitoring. Yes, you have no position until next day, no poison with hyper leveraged spread betting means no worry for me.

Hope this helps.

Toshi

P.S. I have no relationship with the publisher etc and this is purely my opinion and use this post for your reference only. :)
 
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Thanks for replying Toshi.

Seems to be working out for you at present, would you mind updating us in a few weeks as Im interested in this system myself. Im up at that time of the morning anyway so thats not a problem for me, more of a money issue really, as you always need to have some money to make some more and thats the first stumbling block!!

Im sure others will have questions but thanks for coming back and hope to hear how well you are doing in a few weeks.

zcar
 
http://www.fsponline-recommends.co.uk/page.aspx?u=fnt&tc=W970KC02&PromotionID=2147066614&

"It’s a great feeling. To turn up at work knowing that you’ve already made more that day than a lot of your colleagues will make all week..." :p:p:p


"So, I’m limiting the amount of people I accept to just 250. And that’s on a strictly ‘first come - first served’ basis. To get on board before the spaces go, you can’t waste any time on this." :LOL::LOL:

Better get my £247 (?) sent right away. All these limited place offers, phew, wish I was quicker on the keyboard or I may miss the boat on this one as well! ;)
 
Hi Richard Hill here, I just wanted to point out the system has a 60 day no question money back guarantee, fully guaranteed by Agora Lifestyles, one of the biggest financial newsletter companies. They have a very good reputation in the industry.

Oh, I was under the distinct impression that they had a reputation in the industry as purveyors of absolute crap.

Must be another Agora ?
 
Thanks for replying Toshi.

Seems to be working out for you at present, would you mind updating us in a few weeks as Im interested in this system myself. Im up at that time of the morning anyway so thats not a problem for me, more of a money issue really, as you always need to have some money to make some more and thats the first stumbling block!!

Im sure others will have questions but thanks for coming back and hope to hear how well you are doing in a few weeks.

zcar

zcar

Well I don’t think I can say more and I don’t want you to make a judgement from my own short term performance. (You can see more long term performance with the advert. )

As I explained Stress/Reward ratio (?) is very high, it fits to me and this is very conservative system, and I genuinely have to agree with what Richard said.

“The system has very conservative risk management. This is fully explained in the system. This is not a get rick quick program, but a trading system that has consistently been profitable. The Beta testers are real people who have been doing this. The key in any trading is managing risk, and having a good strategy. I have shared exactly what I do,”

I even feel that his recommendation of 2% risk per trade is ridiculously low, as the system includes decent risk managements. (Without a clear signal, the system won’t allow you to trade, a great capital preservation system.)

As far as I know Agora is a part of Fleet Street Publications group (Money Week), I don’t see the problem to use Agora but I would recommend you to make sure their refund policy before making an order.

P.S. I personally don’t appreciate Agora’s rather tacky cheap advertisement style itself as I don't feel it reflects this very conservative trading system with a decent support.
 
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**My experience with Richard Hill & Net Trap has been very good indeed**

I have to admit i've always been sceptical when it comes to new systems that promise the world but with Net Trap i really have stumbled across something i can use Mon - Fri with no fuss at all. I've tried various systems promoted by Agora and Shortcut Bulletin but this has to be the simplest by far. Okay i've only been with them for 3 months but from all the junk i see touted this has been the most consistent for me.

The system ONLY trades between 6.30am - 8.30am, but for me that's all i time i really have. i don't need to check charts all day and even though i paid the full price of £247 i'm confident i'll recoup this outlay within weeks. Up unti today i've made another 85 pips and last week i made a conservative 37 points which is still a profit whichever way you look at it.

Richard also provides a weekly update on Monday which allows me to make sure i traded on the right signals and can compare my entry and exit prices. All in all i found it much easier than the other systems i bought from Agora. especially a dreaded one called Profit Before Work by John Piper.
 
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Hi flinteng,
Welcome to T2W.
In my experience, money back guarantees aren't worth the paper they're written on. So much so in fact, that I'd put more faith and trust in someone who didn't offer one than someone who does. Nobody can account for how somebody else trades so, if you buy this course or strategy and you fail to make money with it, almost certainly you'll be told that's because you didn't follow the strategy to the letter and therefore it's your own fault. To be fair to the vendor, this is likely to be true - regardless of whether their product is any good or not. Additionally, you are quite correct in spotting the obvious flaw in their marketing, namely that the size of any gains must relate and be proportional to the size of your account. If it's a signal service or bespoke software, you could ask for a free trial for a month or so. Obviously, if the system works well, you'll only be too happy to throw loads of money at the vendor to buy the system outright at the end of the trial. They'll almost certainly refuse this request though, leaving you to draw your own conclusions about the likely profitability of the system.
Tim.

Not sure if i agree here...

How can a product without a MBG be any better than one with a MBG. I would never buy something of value from a shop and leave without a receipt or knowing i couldn't return it within 14 days.

So when buying from the web i think a MBG is a must. Of course the guarantee is only as good as the company behind it but on more than one occassion it has allowed me to try a particular product and return without incurring any costs.

I can only imagine it must be good for marketing too but peace of mind is the reason why i would never purchase without one.
 
Any of you guys that have the system like to call me some trades. If its good Ill piggy back the trades and then give richard his money. I
 
Any of you guys that have the system like to call me some trades. If its good Ill piggy back the trades and then give richard his money. I

:LOL: I think (in internet speak) that's known as pwned...:cool:
 
**My experience with Richard Hill & Net Trap has been very good indeed**

I have to admit i've always been sceptical when it comes to new systems that promise the world but with Net Trap i really have stumbled across something i can use Mon - Fri with no fuss at all. I've tried various systems promoted by Agora and Shortcut Bulletin but this has to be the simplest by far. Okay i've only been with them for 3 months but from all the junk i see touted this has been the most consistent for me.

The system ONLY trades between 6.30am - 8.30am, but for me that's all i time i really have. i don't need to check charts all day and even though i paid the full price of £247 i'm confident i'll recoup this outlay within weeks. Up unti today i've made another 85 pips and last week i made a conservative 37 points which is still a profit whichever way you look at it.

Richard also provides a weekly update on Monday which allows me to make sure i traded on the right signals and can compare my entry and exit prices. All in all i found it much easier than the other systems i bought from Agora. especially a dreaded one called Profit Before Work by John Piper.

This guy is Nick Laight from Canonbury Publishing I think. He runs a site called whatreallymakesmoney so I'm not sure if he's being impartial here. :cool:
 
By the way, some experienced members ( timsk, Black Swan) posted regarding risk management, leverage. I should treat them as extremely seriously.


Remembered there's a good article on leverage (v.important when starting out) on babypips.com

No matter what the forex brokers tell you, don’t ever open a “standard account” with just $2,000 or a “mini account” with $250. The number one reason new traders fail is not because they suck, but because they are undercapitalized from the start and don’t understand how leverage really works.

Don’t set yourself up to fail.

http://www.babypips.com/school/leverage_the_killer.html

The first thing I consider was the risk management. Richard text book has a section “Risk Management (This is very important, don’t skip this) "

When I started spread betting, no one gave me warning. I paid huge cost. I like the word "undercapitalized" used by Blackswan (are you a friend of Nassim Nicholas Taleb?) Thank you for the babypips article. In business term, this is a cash flow problem, whatever you have a good product (strategy), without working capital, you will be bankrupt.

Now I use CFD with ETFs with far lower 1-4 leverage for swing trading as I could not figure out with spread betting.

scary scary mad forex levarege :cry:

http://www.babypips.com/school/more_leverage.html
 
IMHO better stay away from that trap door(n)

Lol, i think I must be being punished or something, since i posted my comment I have recieved the Net Trap e-mail through T2W, maybe Richard is the owner of T2W, I have a system for free, buy when trending up, sell when trending down, buy low sell high, sell high buy low, buy high sell higher, and guess the next one your self, I might add more literature and description and sell my newly worded system:innocent:
 
Remembered there's a good article on leverage (v.important when starting out) on babypips.com

No matter what the forex brokers tell you, don’t ever open a “standard account” with just $2,000 or a “mini account” with $250. The number one reason new traders fail is not because they suck, but because they are undercapitalized from the start and don’t understand how leverage really works.

Don’t set yourself up to fail.

We recommend that you have at least have $100,000 of trading capital before opening a “standard account”, $10,000 for a “mini account”, or $1,000 for a “micro account”.

So if you only have $60,000, open a “mini account. If you only have $8,000, open a “micro” account. If you only have $250, open a “demo account” and stick with it until you come up with the additional $750, then open a “micro account”.

http://www.babypips.com/school/leverage_the_killer.html
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Has anyone used the Richard Hill system?
What stop loss does he recommend?
What is the minimum you can lose?
 
Hi Guys - does anyone remember what the trigger signal for the net trap system is? Is it two consecutive green candles on the day chart? I know that two opposing candles mean no trade but can't remember what the chart signal for when to trade.
 
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Has anyone used the Richard Hill system?
What stop loss does he recommend?
What is the minimum you can lose?

Hi here is Richard's own reply. Richard recommends 2 % risk per trade.

You need £1500 to trade for £1 a pip. (means max loss is 30 pound per trade)

By the way, Agora adverts assumes that you have initial £15000 for trade without a clear technical explanation. It's so TACKY and SHOWY, but no worry, Richard's manual give you a warning clearly.


for my system to stay within recommended risk management rules, I recommend to trade for £1 a pip you should have at least £1,500 in your trading account.

As with all trading your trading account should not be money you need to live on, but money you are prepared to put into a trading venture. I hope this helps you.
Richard

I also recommend you to read timsk's post as well.
Leverage /Stop loss management is interrelated, this would be simple but I did not understand when I started.


Hi flinteng,
While there are exceptions to this, broadly speaking, a successful strategy or system is independent of the size of the account needed to trade it. In a nutshell, the answer to your question will be dictated by how far the stop loss is from entry. For example, suppose it's ten points from entry and you're trading £10.00 per point. If you're stopped out you'll lose £100. As a proportion of your total equity, what does that £100 loss represent? If you've got an account with £1,000 in it, you've lost 10%. If you continue to trade at £10.00 p/p with a ten point stop, you will (not could) blow your entire account in the next nine trades. The vendor ought to be able to provide verifiable data detailing the probability of ten consecutive losing trades. Assuming he does and the likelihood is infinitesimally small, most traders would still argue that risking 10% per trade is waaaaaaay too much. If you have $10k in your account, then you'll only be risking 1% of your equity (instead of 10%) and the chances of having 100 consecutive losing trades is obviously far less likely than having ten consecutive losing trades. So, hopefully, you see that all of this is down to you and the size of your account, which no vendor in the world can either determine or control.
Tim.

So Net trap allows 50 consecutive stop losses (without considering margin requirement).
As far as I know, this risk management is very very conservative. But with this managements, Richard thinks "You also know you will still be around trading this time next year" - this is the best risk warning to me ! 1 year survival grantee is better than 60 days money back grantee to me.

I heard somewhere that Lehman brothers blew up with 45 times Leverage. ...

Hope it helps.

Toshi
 
The way I see it is no one has traded with this system for any length of time and come out with a good profit. All I can find is one person was up 30 pips and then returned it.
 
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