Richard Hill Forex Net Trap

Chaps, whats the consensus this morning : MA same at 6.15 as it was 10 candles back - 14413, so NO TRADE ??
 
SA Trader said:
Chaps, whats the consensus this morning : MA same at 6.15 as it was 10 candles back - 14413, so NO TRADE ??
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Yep technically no trade but it sooooo looked likes the cusp of a drop off to me so I am completly breaking the rules and set a sell order @ 14365. Can't resist. :-0
 
SO glad it was a no trade day, as my alarm didn't go off! Chart looks good for selling from 6:30 tho if anyone risked it and broke the rules...
 
BigBrassBalls said:
SO glad it was a no trade day, as my alarm didn't go off! Chart looks good for selling from 6:30 tho if anyone risked it and broke the rules...
Click to expand...

Aye ;) Really taking a no loss gamle today, almost close out for 40 pips mamually 20 mins ago but have now adjusted stoploss to 1 pip above entry and am going to try and ride this drop all the way down, see if i can get 100 or 150 pips or whatever, adjusted limit to 100 pips for now..............so watch out for 14265 to be hit!

M
 
mark120169 said:
Aye ;) Really taking a no loss gamle today, almost close out for 40 pips mamually 20 mins ago but have now adjusted stoploss to 1 pip above entry and am going to try and ride this drop all the way down, see if i can get 100 or 150 pips or whatever, adjusted limit to 100 pips for now..............so watch out for 14265 to be hit!

M
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Nope. Just got a text stopped out no no win no gain, hey ho. Live to fight another day.

M
 
mark120169 said:
Nope. Just got a text stopped out no no win no gain, hey ho. Live to fight another day.

M
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Now then, if you'd have upped your stop loss to keep the same R:R ratio (30/50) as per target profit, you'd have done it, hit 14265 at 12.28. but high was 14408, so a stop loss of 60 would have covered it. Good try though, if I'd have been on 20p per pip I might have had a go, but bed beckoned again tbh:D. I'd have bailed at 40 tho!
 
peterf1966 said:
Now then, if you'd have upped your stop loss to keep the same R:R ratio (30/50) as per target profit, you'd have done it, hit 14265 at 12.28. but high was 14408, so a stop loss of 60 would have covered it. Good try though, if I'd have been on 20p per pip I might have had a go, but bed beckoned again tbh:D. I'd have bailed at 40 tho!
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Yeah it was fun while it lasted. Trouble is their where 3 massive upward swings at 7.45, 8am and 8.45, all around 50-55 points swings upwards from lowest to highest.

Like you said would have had to have set a 60 pip stop to avoid stopping out to hit 100 pips. But where do you stop with these after the event theories. You could say "hey, remove the stop altogether then you can't be stopped out, or have 60% stop rule like NT, where your stop is always 60% of the limit...........hmmm interesting, at 100 points limit as you say that would be 60 stop, twice NT. Food for thought. :devilish:

M
 
mark120169 said:
Yeah it was fun while it lasted. Trouble is their where 3 massive upward swings at 7.45, 8am and 8.45, all around 50-55 points swings upwards from lowest to highest.

Like you said would have had to have set a 60 pip stop to avoid stopping out to hit 100 pips. But where do you stop with these after the event theories. You could say "hey, remove the stop altogether then you can't be stopped out, or have 60% stop rule like NT, where your stop is always 60% of the limit...........hmmm interesting, at 100 points limit as you say that would be 60 stop, twice NT. Food for thought. :devilish:

M
Click to expand...

Well, under the system, the 6.30 entry/8.30 exit, and 30/50 limits are all there for a well researched reason, what cost us money, so probably not wise to mess with it - what works on this cannot be transferred to other times/strategies.
 
I'm only trading on 20p per pip at present, pretty confident in using it now, but i'm sticking to the rules, as tempting as it is to play... :)

I've got stung in the past by playing...
 
It is a very close call - the MA between 4.15am and 6.15am has dropped by only 1 point....but there are at least 2 green candles together ??
 
There are, but the MA for these only rose for one candle, then levelled, if two of them consecutively rose, that's a no trade...
 
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