Jerry999.....look at the previous post to yours at 4959, and it has the information you need. If you have answered the entry question set by SATrader or Mark 12069 they will get back to you in a few days. They have jobs etc and it can take a short while. Hope this helps. Rich
Thanks Rich but I followed the instructions given but haven't heard anything. I applied on 1st November and am not sure if this is the usual waiting period.
Jerry
funkygolddog
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Hello to all - have been getting numerous emails from moremoney and the right side and really can't decide which option is good for me ( if any ) I am a stay at home mum and with a bit of spare time and a bit of spare cash am really looking for a system that will return some good profits that will help with the bills that seem never ending , if I can just find something that will produce an extra £500 amonth or so would mean that I could stay at home and concentrate bringing up our babies - I have researched alot of the agora systems and the FNT seems to be getting the best positive comments - I really want to know just hard it would be for someone like me to get the hang of this without wasting my money - I see myself to be reasonably intelligient - I really appreciate your comments good or bad !
mark120169
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We have a backlog sorry, SA Trader had a car crash and I was unaware, could not contact him via email, so we have some catching up to do. I will do some this week and he will be back on applications come monday 29th.
M
mark120169
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Some of our variants are producing around 100 pips a month on average, so to generate £500 p/m you would need to trade @ £5 pip. To safely trade £5 pip @ 2% per trade risk with 30 SL you would need a trading pot of £7.5k as you are risking losing £150 on every trade.
And we do have a few losing months. But for 2010 FNT with tweaks is profitable by over 1000 pips.
M
Hello to all. I am a newbie at forex and have just received the manual Forex Net Trap. Could someone tell me which spread account is best to use.. I currently have a demo account with CMC. Was looking at IG Index and FxPro. Hope I am looking at the right direction.
At the moment I am studying the manual and doing some demo trades and just following the rules. Done 2 trades so far.
I have also sent a PM request for the private forum. Will see you all there soon.
And any more advice I could get would be Helpful.
Thanks
At the moment I am studying the manual and doing some demo trades and just following the rules. Done 2 trades so far.
I have also sent a PM request for the private forum. Will see you all there soon.
And any more advice I could get would be Helpful.
Thanks
mark120169
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For beginners IG Index is hard to beat. Puredeal is a very good platform and pending orders can be placed quite close to the market price. Many spreadbetting companies won't alow you to place pending orders any closer than 5 pips from market price which can cause problems missing the entry and having to try and buy live to market to get the price needed.
Once you are up to speed there is a cracking new MT4 based spreadbetting company but this is far more complicated than IG index to use, especialy for a novice.
M
M
B
Black Swan
Really? So your advice, based on your many years of trading experience, is that beginners should start in the forex game with an SB firm as opposed to opening a micro account with for example fxcm? So, initially your "beginners" would be paying twice as much for a trade as they need to and not getting NDD or 'at best' fills...
lordofknutty
Newbie
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actually, think that a beginner would be far better using a cfd acnt, eg ig markets, same platform, but somewhat more forgiving than a sb acnt
atvb
atvb
mark120169
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Broker accounts are not tax free for winnings. I would rather suffer a bit of slippage than give the tax man 20%-50% of my winnings. Personally I use Smart Live Markets now on MT4 spreadbetting, exact same entries within a pip of any other MT4 broker and no slippage so far in 4 months of use, and 2 pip spread on cable.
But no where near as easy or user friendly as IG Index puredeal.
Jog on BS.
M
B
Black Swan
What is the normal personal allowance before you have to give 20-50% of your "winnings" to the tax man..? You don't know do you? And do you think those you've trapped in the private forum will earn enough to be 'hit'? Erm..as you say "jog on" there's a good lad...
peterf1966
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What is the normal personal allowance before you have to give 20-50% of your "winnings" to the tax man..? You don't know do you? And do you think those you've trapped in the private forum will earn enough to be 'hit'? Erm..as you say "jog on" there's a good lad...
Now now..
Ig index is simple, and it is what RH bases the NT manual on. Start there, and get experience, then have a look for better if you become disatisfied with IG.
B
Black Swan
Now now..
Ig index is simple, and it is what RH bases the NT manual on. Start there, and get experience, then have a look for better if you become disatisfied with IG.
Let's move aside the fact that most of you have binned this net trap lark and revised it to the point where it bears no relation to the mechanical sytem originally peddled, aint curve fitting a bitch..
Now, here's the thing, let's take E/U as an example. You only need 3,300 quid to open an account with dbfx where their usual spread cost (at best fills) is circa 1-1.70 pips. Slippage? Hardly ever happens. Guaranteed stop cost? What's that..?
Now then, the IG standard account is 2 pip spread on the euro at best, it's normally 3/4 once your'e filled and the stop loss costs you 3 pips. So taking a trade with dbfx the cost is 1.5 pips, take the trade with IG as a beginner and the cost could be as much as 7 pip spread...
You could open a micro account with fxcm (same platform as dbfx) with 500 dollars and get 2.2 pip spread and be getting ndd at best fills and not paying for a GS, so even a micro account is up to 200% cheaper per trade than IG's standard account.
Here's the thing, there is absolutely no need or incentive to start trading forex with an sb firm. If you are a very successful forex trader and tax becomes an issue then move to them, not the other way around...OK?
peterf1966
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Let's move aside the fact that most of you have binned this net trap lark and revised it to the point where it bears no relation to the mechanical sytem originally peddled, aint curve fitting a bitch..
Now, here's the thing, let's take E/U as an example. You only need 3,300 quid to open an account with dbfx where their usual spread cost (at best fills) is circa 1-1.70 pips. Slippage? Hardly ever happens. Guaranteed stop cost? What's that..?
Now then, the IG standard account is 2 pip spread on the euro at best, it's normally 3/4 once your'e filled and the stop loss costs you 3 pips. So taking a trade with dbfx the cost is 1.5 pips, take the trade with IG as a beginner and the cost could be as much as 7 pip spread...
You could open a micro account with fxcm (same platform as dbfx) with 500 dollars and get 2.2 pip spread and be getting ndd at best fills and not paying for a GS, so even a micro account is up to 200% cheaper per trade than IG's standard account.
Here's the thing, there is absolutely no need or incentive to start trading forex with an sb firm. If you are a very successful forex trader and tax becomes an issue then move to them, not the other way around...OK?
Most variants of NT currently being live traded or monitored are not that far away from the original mechanical system, and can still be traded set and forget. RH has added 'advanced net trap techniques', one of which is one of the varants already developed.
Annoying as slippage is, it's not often a problem, but when you miss out on a TP by 0.1pip because of it (its happened), the problem becomes very magnified, but this does not happen every day.
You have to remember, NT is aimed at newbies, and you can argue it's too simple, but then that's the attraction in the first place, and the manual does not state you must use guaranteed stop loss at extra 3 pips.
I suppose you could call adapting to current conditions 'curve fitting' but if it's working...
mark120169
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What is the normal personal allowance before you have to give 20-50% of your "winnings" to the tax man..? You don't know do you? And do you think those you've trapped in the private forum will earn enough to be 'hit'? Erm..as you say "jog on" there's a good lad...
As a self employed person who should be the 40% tax bracket, but in the 20% due to a clever accountant (and cash jobs to the safe 0% tax, cheque jobs to the accountant 20% tax) i am perfectly aware of the tax levels.
I would close out those long positions on EU @ 1.42 if i was you, moving the stops further back is making you very grumpy and very bad MM!
M
mark120169
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You pay 1.7 pips on EU and pay tax? Really, wow. SLM MT4 spreadbet is 1 pip spread fixed on EU daytime, 2 overnight, and tax free due to being S/B not broker.
And spreads do not widen on news releases either. Maybe you should try them?
M
B
Black Swan
So you don't know the answer..
With regards to my trading what makes you think I'm long on any of my 3 Euro pairs?
B
Black Swan
You really have no idea what you're talking about, we pay as little as 0.25-0.5 pip spread on the EU.
BTW this clever accountant of yours, have you discussed the complexity of your SB tax affairs with him? Mind how you go, wouldn't want the 4 grand you've made this year swallowed up in his fees in one go...
