Richard Hill Forex Net Trap

[sarnia cherie]

Does anyone know if there is a thread on the Newsnight Trader anywhere?

Please.

 

[mark120169]

Does anyone know if there is a thread on the Newsnight Trader anywhere?

Please.

I think Systems for Traders have one, i have NNT now but have not checked it out yet.

We have an interesting thread of the FNT private forum but then you know that already

M

 

[sarnia cherie]

Actually - havent traded NT for a while so not been into the private forum recently. Will pop in there and check it out then. Just want to check Im not the only sucker who lost 280 on the last trade.

 

[mark120169]

Actually - havent traded NT for a while so not been into the private forum recently. Will pop in there and check it out then. Just want to check Im not the only sucker who lost 280 on the last trade.

?? SC the stop is 140 ? Do you mean pips or ££££'s ? I lost 1%, first NNT trade.

M

 

[sarnia cherie]

no - the stop is 280.

 

[sarnia cherie]

140 x2 = 280?

 

[mark120169]

140 x2 = 280?

Ah yes. But I split 1% between the two stops so each is 0.5%, 1% loss in total. So for me this was the same as losing 15 pips on a FNT Trade which would also be a 1% loss.

M

 

[stoneyxk8]

no - the stop is 280.

280!! presumably to keep a decent RR the TP is about 500/600 then? this would need a start bank of around £15K at a mere £1 a pip for 2% risk - blimey , must be a goodun to tempt people at that rate, unless i misunderstand something here

 

[sarnia cherie]

I guess - although I opened an a/c with SLM so I could take advantage of their refund of first £300 loss in the first month. My first NNT first trade came good so murphy's law - nothing to claim back. My month is up now and this last trade gave back over 50% to SLM - funny old game this! No doubt it will all go back to SLM eventually!

 

[sarnia cherie]

"280!! presumably to keep a decent RR the TP is about 500/600 then? this would need a start bank of around £15K at a mere £1 a pip for 2% risk - blimey , must be a goodun to tempt people at that rate, unless i misunderstand something here"

Without the SLM offer I wouldnt have touched NNT actually.

 

[peterf1966]

"280!! presumably to keep a decent RR the TP is about 500/600 then? this would need a start bank of around £15K at a mere £1 a pip for 2% risk - blimey , must be a goodun to tempt people at that rate, unless i misunderstand something here"

Without the SLM offer I wouldnt have touched NNT actually.

I didn't fancy it with that big SL at all. I think that the NT approach little and often is a bit better - psycologically that is, imagine getting a 140 stop out 2-3 times on the run, then a no trade for months? Your £247 might seem a distant memory by then?

 

[peterf1966]

Thanks mate , looking forward to it !!

Been telling you this for ages now, but you'll find it intresting, so no falling asleep!

I hope SA Trader is OK, not seen him post in a while now.

 

[phil8]

I didn't fancy it with that big SL at all. I think that the NT approach little and often is a bit better - psycologically that is, imagine getting a 140 stop out 2-3 times on the run, then a no trade for months? Your £247 might seem a distant memory by then?

Hi Peter

I was considering the NNT

Sorry if I am catching on to this a bit late but are you trading it with some success.

Any pointers appreciated.

Phil

 

[phil8]

Not sure if i read some posts here on tax effects of trading

I have been doing a bit of research which i wont bore everyone with .... unless they need to know

If so post here and i will expand on my findings

Cheers

Phil

 

[peterf1966]

Hi Peter

I was considering the NNT

Sorry if I am catching on to this a bit late but are you trading it with some success.

Any pointers appreciated.

Phil

no didnt get it, i dont fancy the big s/l, one has just happened I think.

 

[peterf1966]

Not sure if i read some posts here on tax effects of trading

I have been doing a bit of research which i wont bore everyone with .... unless they need to know

If so post here and i will expand on my findings

Cheers

Phil

tax is really intresting subject, more please.

 

[Rugby Trader]

26 - 19 ......come on WALES!

Got so bloody drunk last night I don't remember much about the game.
off to watch it on sky plus now.

my head hurts!

 

[msharma74]

Hi Mark,

I too reqested access to the Private forum by sending PMs to you and SA trader. I appreciate that you both have full time jobs but please can you sort this out for me asap (if possible this weekend) as I'm very keep to get started?

Thanks mate

 

[phil8]

tax is really intresting subject, more please.

Hi Peter

I can hardly contain my excitement on getting in to the tax effects on trading

Anyway, I think that most people are aware that gains on gambling are tax free as a general rule and this includes spreadbetting.

I think that this point is included in the literature of most systems that are touted around including FNT.

However, lets assume that all goes well and FNT means that we can all give up work and focus on full time trading (spread betting) then at this point the gains become taxable.

It seems that the advice would be that even if you make a lot of money spread betting then you should maintain another income, even if that income is much smaller than the amount being earned through spreadbetting. In these circumstances the spreadbetting income will remain tax free, I think on the basis that HMRC would not dare to challenge it for fear of opening the floodgates on people wishing to claim tax relief for losses on gambling / spreadbetting.

The other thing to be aware of is that if you ever offer to manage someone elses cash by 'investing' it in FNT or any other form of spreadbetting then the income from that would be taxable as it would be deemed as a trade.

Assuming that you are still awake Peter after reeding the waffle above, I'd be interested in any comments.

Cheers

Phil

 

[mark120169]

bump again!

Weekly Bump for this for anyone who want's into the private forum.

Yes my tip is Join the private forum asap. Details below. Wait until you have the manual in your hands though, without it you wont be able to answer the security question.

For those finding there way here via google and wish to join the new private forum where all the action is. Joining instructions if you own a copy of Forex Net Trap.


1) go here to this link ;

http://www.trade2win.com/boards/members-private-forums/

2) You will see a list of private forums, starting with "Real Live Trading" , 2nd from the bottom is ours "Forex Net Trap" the text looks like this ;

Forex Net Trap (XX Viewing)
A private forum for the discussion of Forex Net Trap.
Request access "here" if you wish to join.

3) On the "Request access "here" if you wish to join" click on the "here" link.

4) Forex Net Trap Members is the third one down (Fourth is Forex Signal Providers, please don't apply to join that one). To the right of each Forum name is a column that says "join" and a circle that if you click will turn into a blue dot.

Once you have the blue dot go to the bottom of the screen and in the centre is another button that says"Join Group" .

Click this, then you get another screen where you can leave a cheery polite message and click another button, but I cant remember now what that is called so if you fail this last bit you are beyond help!

5) After you have done this send a PM to SA Trader and request the security question for entry.

6) Once you have received the security question reply to SA Trader in a PM with the answer then wait a few days and you should have access. Both SA Trader and myself have full time jobs so please be patient.

M