Richard Hill Forex Net Trap

Whilst I can see the apparent attraction of a ‘100% mechanical system’ you will find that you will achieve far better performance in the longer term by ‘developing’ the strategy in your own way. Of course they don’t say this in the sales patter because it would put 90% of people off. Instead the sales patter appeals to that part of the human mind which wants ‘something for nothing’.

Having said that it is never a good idea to run before you can walk and it is probably good practice, especially for people new to trading, to simply follow the system rules to the letter. I’m not sure that I completely agree with the part where you simply step away from the screen and leave the trade running. There is much to be learned in this business through observation.

This system seems to revolve around using a simple moving average to establish probable market direction. It also seems to rely on ‘time’ in respect of establishing a key price candle (the trigger). One would have to question how successful this would be in the longer term as market characteristics change considerably over a longer period of time and something so finite is less likely to work consistently forever. What you need to hope is that the system works well for a good few months – hopefully in that time you will start to get a feel for your chosen market. This will then give you the edge that you need to keep evolving and keep making profits.

Remember that most of trading is psychology! That is why people get drawn to mechanical systems – it’s the human minds way of avoiding conflict.
 
part Quote from Stevespray's post

"What you need to hope is that the system works well for a good few months – hopefully in that time you will start to get a feel for your chosen market. This will then give you the edge that you need to keep evolving and keep making profits"./QUOTE]
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Stevespray, a very good post. With no disrespect to any system/method or whatever we choose to call it, it's systems like these (forex net trap or any other) that actually get the newcomer to make a start, follow it and along the way make changes to formulate a strategy suitable to their personality. Good luck to all new traders. Persevere, and one day you will arrive at a strategy suitable just for you.
 
My latest results.

Mon 29th Mar +56 pips (broke the rules a little)
Tue 30th Mar +38 pips
Wed 31st Mar – No trade
Thu 1st Apr - No trade
Fri 2nd Apr +4 pips
(Total +98 pips for the week)

Mon 5th Apr – Holiday – No trade
Tue 6th Apr -30 Pips
Wed 7th Apr – No trade
Thu 8th Apr +50 pips
Fri 9th Apr – No trade
(Total +20 pips for the week)

Mon 12th Apr – No trade
Tue 13th Apr – No trade for me (couldn’t get near a PC)
Wed 14th Apr -30 pips
Thu 15th Apr -30 pips
Fri 16th Apr +50 pips
(Total -10 pips for the week)

Mon 19th Apr -30 Pips
Tue 20th Apr – No trade
Wed 21st Apr – No trade
Thu 22nd Apr +22 pips (was late in manually closing out trade)
Fri 23rd Apr +50 pips
(Total +42 pips for the week)

Mon 26th Apr +20 pips (Buy 1.5471, Sell 1.5491)
Tue 27th Apr – No trade
Wed 28th Apr – No trade
Thu 29th Apr -30 pips (Sell 1.5150, Buy 1.5180)
Fri 30th Apr +50 pips (Buy 1.5331, Sell 1.5381)
(Total +40 pips for the week)

Mon 3rd May – No trade (Bank holiday)
Tue 4th May – No trade
Wed 5th May -30 pips (Sell 1.5132, Buy 1.5162)
Thu 6th May -30 pips (Buy 1.5109 Sell 1.5079


Regards

DS
 
part Quote from Stevespray's post

"What you need to hope is that the system works well for a good few months – hopefully in that time you will start to get a feel for your chosen market. This will then give you the edge that you need to keep evolving and keep making profits"./QUOTE]
----------------------------------------------------------------------------------------------------------Hi,I'm a new member and have been reading through all the letters in this thread.I have been watching the 6.15am graphs with a 40 ma and a 15 min time frame and have found,like today when there is an allmost flat line, if the time frame is switched to 30min there is a definite trend to be seen.Today if you try it you will see that a short would have given you 50+ pips.


Stevespray, a very good post. With no disrespect to any system/method or whatever we choose to call it, it's systems like these (forex net trap or any other) that actually get the newcomer to make a start, follow it and along the way make changes to formulate a strategy suitable to their personality. Good luck to all new traders. Persevere, and one day you will arrive at a strategy suitable just for you.

----------------------------------------------------------------------------------------------------------Hi,I'm a new member and have been reading through all the letters in this thread.I have been watching the 6.15am graphs with a 40 ma and a 15 min time frame and have found,like today when there is an allmost flat line, if the time frame is switched to 30min there is a definite trend to be seen.Today if you try it you will see that a short would have given you 50+ pips.
 
Waheyyyy, Forex was a rollercoaster this morning, scary that you wanna get off. And then you wanna get back on again...+70 this morning, I just couldnt bloody resist it. May things settle down for the good of my nerves now? Please?
 
Waheyyyy, Forex was a rollercoaster this morning, scary that you wanna get off. And then you wanna get back on again...+70 this morning, I just couldnt bloody resist it. May things settle down for the good of my nerves now? Please?

im guessing you are not following the rules of Net Trap as there was three candles MA in the opposite direction so no trade today.
 
Waheyyyy, Forex was a rollercoaster this morning, scary that you wanna get off. And then you wanna get back on again...+70 this morning, I just couldnt bloody resist it. May things settle down for the good of my nerves now? Please?

:LOL::LOL: Calm down! Calm down! Remember, trading is a marathon, not a sprint. :)
 
im guessing you are not following the rules of Net Trap as there was three candles MA in the opposite direction so no trade today.

(Edit) Sorry, yes it shouldnt have been a trade, looking again, But I hung on this morning, because of my own uncertainty about how the election was going to affect matters. Just after 6.30, things turned upward, and looking at some other indicators (notably RSI showing an oversold level) and I decided to go in at 645, and set the limit at 720, for 75 pips as it happened, not 70.

Not what I'm going to do again, but today was just a one off, and I'd like to get back to what was happening in March, nice and steady as she goes.

SO, yes I was outside the system, but for not the reasons you mention.

Trading, well I'm still a newbie, but to me it seems sometimes its a marathon, sometimes it's a round the world ramble, and sometimes you have to compete with Usain Bolt.
 
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My latest results.

Mon 29th Mar +56 pips (broke the rules a little)
Tue 30th Mar +38 pips
Wed 31st Mar – No trade
Thu 1st Apr - No trade
Fri 2nd Apr +4 pips
(Total +98 pips for the week)

Mon 5th Apr – Holiday – No trade
Tue 6th Apr -30 Pips
Wed 7th Apr – No trade
Thu 8th Apr +50 pips
Fri 9th Apr – No trade
(Total +20 pips for the week)

Mon 12th Apr – No trade
Tue 13th Apr – No trade for me (couldn’t get near a PC)
Wed 14th Apr -30 pips
Thu 15th Apr -30 pips
Fri 16th Apr +50 pips
(Total -10 pips for the week)

Mon 19th Apr -30 Pips
Tue 20th Apr – No trade
Wed 21st Apr – No trade
Thu 22nd Apr +22 pips (was late in manually closing out trade)
Fri 23rd Apr +50 pips
(Total +42 pips for the week)

Mon 26th Apr +20 pips (Buy 1.5471, Sell 1.5491)
Tue 27th Apr – No trade
Wed 28th Apr – No trade
Thu 29th Apr -30 pips (Sell 1.5150, Buy 1.5180)
Fri 30th Apr +50 pips (Buy 1.5331, Sell 1.5381)
(Total +40 pips for the week)

Mon 3rd May – No trade (Bank holiday)
Tue 4th May – No trade
Wed 5th May -30 pips (Sell 1.5132, Buy 1.5162)
Thu 6th May -30 pips (Buy 1.5109 Sell 1.5079
Fri 7th May – Trade placed, sell @ 1.4599, not triggered
(Total -60 pips for the week)


Regards

DS
 
dsinclair999 - why did you trade today and how did your trade excute yesterday. today should not have been a trade?
 
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