Richard Hill Forex Net Trap

We all have to start somewhere I guess - you guys are so great - we love you kiss kiss.
Thanks for the great advise - I will post my paper trades and tell you how I cannot read a simply book - you f88king idiots xxx Happy paper trades ********s
 
Me, an expert? Pfftt!! :LOL: no way. Guys, fwiw I'll answer a few points tomorrow re. the TFs I use, the pairs I trade, the indicators I favour, the monthly targets I set and how I attempt to achieve them etc...don't expect a Holy Grail though, as Van Tharp states it exists alright, but each to his own and the journey of discovery to find it..;)
 
HI Toshi

adalat, I have a question, you have run a multiple strategics, do you have run them separate accounts ?

I now feel that "set and forget" strategies needs a Fund manager, not a trader. Let the system itself run with markets and I will manage the fund only (increase the odds etc)
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No i don't run them on separate accounts. just one account.The set and forget strategies i use, are only good for the day. I use an OCO order, (one cancels the other). I work out entry levels on the ftse and the currency pairs , using support and resistance levels. When i place those orders they are set with a 15 point stop loss and an 15 profit limit.
 
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The so called professionals - when they were - would have made so much money would not need to sell systems - think about it.

I wonder, the successful people may not need to earn money to sell the system, but it is very efficient way to distribute the system with a support, and you can get 60 days money back anyway. I am really annoyed this type of comment without any interest on technical aspect. To me, a trading system is an intellectual property, and sometime free other time are not, and if you feel worth, take it if not ask refund. ( I did with another system see the below).

I heard John Piper is a millionaire trader, he still publishes his weekly report and educating traders, (Obviously it is not free) I rather feel painfully his commitments, (although I have no intention to be a professional trader at all)


By the way, I have "tested" another Agora's trading system ( not FOREX one) and I have asked the refund, the manual is awful. Schoolboy essay !! there are so many FAQ in his website, because of the lack of information in the manual !! . He showed a completely different strategy in his video session, not appeared in the manual. I was not sure what he was doing.. I think that he just showed off how good he were !! :rolleyes:

The manual did not include any trading record. I requested and I could not get !!! How I can trust him ? After I get the refund, I have found that he showed a completely unrelated trading results in his Agora's advert !!! Yes, I have to agree that there are some really TACKY SHOWY products as well. The system may work, but I don't want to pay a penny to this quality.

I have assumed that every manual has a standard which the Netrrap has. (Clear instruction with trading results with a beta testing etc .) Apparently not !

At least, anyone who read Nettrap manual, you don't have these problems. In addition, you can see the updated weekly actual trading results. (Actually I feel the reason I am paying for) I have still made small mistakes.

Nice day.
 
HI Toshi


No i don't run them on separate accounts. just one account.The set and forget strategies i use, are only good for the day. I use an OCO order, (one cancels the other). I work out entry levels on the ftse and the currency pairs , using support and resistance levels. When i place those orders they are set with a 15 point stop loss and an 15 profit limit.

adalat, Thanks for reply. I myself has decided to setup a separate NetTrap fund (?) from Today. To me it is far simpler and easier to manage the system.

Does anyone use Capital Spread ? Actually easier and better than IG for my half idle brain in the early morning. Capital use 2 pips spread and 5 digit price. The chart is supplied by the same provider. As far as I know if I use capital spread, Nettrap in Feb was not negative. Anyway, my memorable first Netrap fund recorded -30 pips today. Who cares ? I let the system play completely freely from now on.


adalat, as you have used already setup and forget system. I would like to know your idea regarding Nettrap etc.
 
Hi Toshi,

It doesn't matter which sb platform you use for your system, cs or IG. In the long run it evens out. I have run many tests on both platforms, with mixed results. You think that net trap would have been positive with capital spreads? you may be right. But come april the same system could be negative with capital spreads, and positive with IG. in my experience This slight variation always balances out in the long run.

I have tried the net trap. it didn't suit my style of trading. As the saying goes "one man's meat is another man's poison " I personally will not dismiss a system because the masses say its crap. I Always respect every system out there as when i look at, i think in a way that i can always learn something from it.. you go through 50 systems and you may extract one ingredient from the last one that you can adapt to your own method.. which gives you consistent profit.

you are right, the majority of so called pro traders, dismiss anything that looks simple, cos their charts look like spaghetti, with 100 indicators overlapping them.

you will test many systems and in the end you will build your own system from them to trade. I have to admit that i have a very simple trading method that i use, which was formulated after testing most of the so called systems run by the top publishers, to name a few, surefire trading, louise woof, wealth builder, atm, tenkei, net trap, and numerous others. Every one of these promises vast riches, but fail. I have on the other hand learnt something from most of them. Maybe its a process of going through the grinder before you find what suits you.

The tenkei system was good, although i didn't use it myself after having tested it. which does not mean that somebody else will not like it, or make it work. I won't pass a judgement on it and say it was crap.

The majority are greedy. you don't need systems to make you 100 pips or points daily or weekly. even if you made 25 points per week, thats 100 points monthly. Now how do you make a decent income from that? you slowly build your betting bank and gradually increase the stakes from £1 to £2 and eventually to a point where you are confident in your system, then you can move onto a gradual £3, £4, till you reach £10 a point.

Its all about having respect for a live tested method of your own and respect for the risk you take. Always start off by taking small calculated risks.

On One of my strategies for the GBP/USD i don't use any indicators, just a 39 period simple moving average on a 2 minute time frame. it has served me well. The signal is generated when i see a candle close above or below the MAV. There are just a few more guidelines i use to weed out false signals. My aim is a mere 15 points. I will explain more in the near future , when i start my journal here, (look out for " daytrade with eddy") NOW you will get people who will give 101 reasons why this won't work in the long run etc, but i will ignore it because it works for me. Use what works for you no matter how absurd it may seem..
 
Hi Toshi,

I have tried the net trap. it didn't suit my style of trading. As the saying goes "one man's meat is another man's poison " I personally will not dismiss a system because the masses say its crap. I Always respect every system out there as when i look at, i think in a way that i can always learn something from it..

The majority are greedy. you don't need systems to make you 100 pips or points daily or weekly. even if you made 25 points per week, thats 100 points monthly. Now how do you make a decent income from that? you slowly build your betting bank and gradually increase the stakes from £1 to £2 and eventually to a point where you are confident in your system, then you can move onto a gradual £3, £4, till you reach £10 a point.

Its all about having respect for a live tested method of your own and respect for the risk you take. Always start off by taking small calculated risks.

NOW you will get people who will give 101 reasons why this won't work in the long run etc, but i will ignore it because it works for me. Use what works for you no matter how absurd it may seem..

Wow, adalat. You know what you are doing. I posted here before, Nassim Nicholas Taleb said somewhere it is better fit the system to your psychology, not other way round. I am not comfortable to see a live update chart in a short time frame at all, as I used to see the daily charts only !! When analyse the chart, next candle appears, I cannot bear this at all. lol

Since I met NetTrap, I become more interested in the relationship between the system and myself - this is what you summarise here. It is completely up to me to find out the system to suit me !

Many thanks for valuable comments.
 
Anyone else have trouble viewing charts this morning on IG? I kept getting an error.
Did I miss a good trade?
 
No problems for me with IG this morning.

Toshi and Adalet - thnks for your posts, mature well balanced approach. Wonder if it will catch on?
 
i did too, i went through City Index instead. -30pips this morning

I had probs - big red error message on the chart, so I tried again about 10mins later, and it was OK.

Entry level not reached so I placed at the proper entry, and yep, stopped out for -30. So a lucky one for you Lazarette.:D

Thanks for the good posts Adalat, I agree, go slow and steady, build capital, and know that this ain't a get rich quick scheme.

btw, I signed up to an account with Spreadex the other day, offering an up to £200 cover your losses scheme, on the first 5 trades you do within 14 days. Its not as good as IG, it opens at 7am, shuts at 9pm, you cannot set an order level unless it's +/-20 points away from current, or a stop or limit on orders. Only on direct trades, you can set stops and limits. No good for Nettrap then.
 
Yes - same problem here with IG - I did same as peterf1966. Raised a call with IG on it and got the following:

"Unfortunately both our Advanced and Quick charts were down for a period of around one hour earlier this morning.

This problem has now been resolved. Thank you for your patience."
 
Hi Adalat

Really enjoyed your first journal entry and looking forward to seeing forthcoming entries

Good luck with it

All the best

Sunbeam2010
 
Guys, IG Index had probs with their Advanced charts yesterday. I just use their Standard chart package for Net Trap. so wasn't affected. So perhaps if Advanced has a problem, it might be worth trying the standard chart.
 
Hi Toshi,

It doesn't matter which sb platform you use for your system, cs or IG. In the long run it evens out. I have run many tests on both platforms, with mixed results. You think that net trap would have been positive with capital spreads? you may be right. But come april the same system could be negative with capital spreads, and positive with IG. in my experience This slight variation always balances out in the long run.

I have tried the net trap. it didn't suit my style of trading. As the saying goes "one man's meat is another man's poison " I personally will not dismiss a system because the masses say its crap. I Always respect every system out there as when i look at, i think in a way that i can always learn something from it.. you go through 50 systems and you may extract one ingredient from the last one that you can adapt to your own method.. which gives you consistent profit.

you are right, the majority of so called pro traders, dismiss anything that looks simple, cos their charts look like spaghetti, with 100 indicators overlapping them.

you will test many systems and in the end you will build your own system from them to trade. I have to admit that i have a very simple trading method that i use, which was formulated after testing most of the so called systems run by the top publishers, to name a few, surefire trading, louise woof, wealth builder, atm, tenkei, net trap, and numerous others. Every one of these promises vast riches, but fail. I have on the other hand learnt something from most of them. Maybe its a process of going through the grinder before you find what suits you.

The tenkei system was good, although i didn't use it myself after having tested it. which does not mean that somebody else will not like it, or make it work. I won't pass a judgement on it and say it was crap.

The majority are greedy. you don't need systems to make you 100 pips or points daily or weekly. even if you made 25 points per week, thats 100 points monthly. Now how do you make a decent income from that? you slowly build your betting bank and gradually increase the stakes from £1 to £2 and eventually to a point where you are confident in your system, then you can move onto a gradual £3, £4, till you reach £10 a point.

Its all about having respect for a live tested method of your own and respect for the risk you take. Always start off by taking small calculated risks.

On One of my strategies for the GBP/USD i don't use any indicators, just a 39 period simple moving average on a 2 minute time frame. it has served me well. The signal is generated when i see a candle close above or below the MAV. There are just a few more guidelines i use to weed out false signals. My aim is a mere 15 points. I will explain more in the near future , when i start my journal here, (look out for " daytrade with eddy") NOW you will get people who will give 101 reasons why this won't work in the long run etc, but i will ignore it because it works for me. Use what works for you no matter how absurd it may seem..

Eddy , you fight a very honorable crusade, I will be following your blog with much interest, thankyou for sharing your experiences.
 
Results are in for net trap this week :

Mon : no trade
Tue : no trade
Wed : -30 pts
Thur : -30 pts
Fri : +50 pts

week : -10
April : +140


Good luck all!
 
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