Richard Hill Forex Net Trap

do are you you all in a SELL trade this morning at 14342 ?

yes, but it was so fast that some people may have created a trade ticket and sold on the current price. i use IG and ETX i got 14342 with IG as they allow you to open ticket if the current price is close to your open to order. however i need a fair bot of distance with ETX so opened ticket direct and got 14344
 
Does anyone know how to set Alerts in IG Index ? I have heard of people talking about it on the Forum before...
 
Does anyone know how to set Alerts in IG Index ? I have heard of people talking about it on the Forum before...

You need to email or msg the IG Index helpdesk. Ask them to set you up for mobile alerts, and provide your mobile number.
 
Does anyone know how to set Alerts in IG Index ? I have heard of people talking about it on the Forum before...

On your watchlist or prices window next to each market there is a little down arrow click that and you will see at the bottom 'set price alert' :)
 
Does anyone know how to set Alerts in IG Index ? I have heard of people talking about it on the Forum before...

Via the web on a PC? Is easy.....click on the drop down tab you use to set the open order, at the very bottom is the selection "set price alert". Once that is open it is self explanitary. Via a mobile I have not found this function but as someone else said it seems IG can set this up for you if you call them.

M
 
yes, but it was so fast that some people may have created a trade ticket and sold on the current price. i use IG and ETX i got 14342 with IG as they allow you to open ticket if the current price is close to your open to order. however i need a fair bot of distance with ETX so opened ticket direct and got 14344

Boys boys boys........if you start logging the MA data asap before the start by about 6.25am you can have the open order ticket set up to sell / buy with the stops set sitting on the screen just waiting for the last two digits of the sell / buy price then bam, within 5 secs of the start you have sussed the MA direction, entered the price then click submit.

Don't wait until you have the 100% full story before you set up the ticket, you have 95% of the info by 6.16.

M
 
Boys boys boys........if you start logging the MA data asap before the start by about 6.25am you can have the open order ticket set up to sell / buy with the stops set sitting on the screen just waiting for the last two digits of the sell / buy price then bam, within 5 secs of the start you have sussed the MA direction, entered the price then click submit.

Don't wait until you have the 100% full story before you set up the ticket, you have 95% of the info by 6.16.

M

Hi Mark i agree, but like today even with 30 seconds to go the price was falling. I guess being use to place the order 2 pips away from the low or 5 of the high i wanted to ensure i was getting the maxium low of the 6:15 candle so i can place order 2 pips below. in this case it look as though a new low could have formed seconds into the close on the candle
 
Trade closed manually ay 1.4299.
+43 Pips today.
MTD PnL: +163 Pips

I closed manually @ 1.4298 +44 pips (£1 a pip!) . Between 8.31 and 8.32 I got a text alert telling me the 50 pip limit would have been hit. Funny this, one day closest to 8.30 closing will lose you 6 pips for not waiting a minute, whereas yesterday the closing window was tight and by 8.31 you would have lost 15 pips and by 8.32 you would have lost money.

Just goes to show this system knows it's onions.

MTD PnL: +47.8 pips (only 2nd week though!)

M
 
I closed manually @ 1.4298 +44 pips (£1 a pip!) . Between 8.31 and 8.32 I got a text alert telling me the 50 pip limit would have been hit. Funny this, one day closest to 8.30 closing will lose you 6 pips for not waiting a minute, whereas yesterday the closing window was tight and by 8.31 you would have lost 15 pips and by 8.32 you would have lost money.

Just goes to show this system knows it's onions.

MTD PnL: +47.8 pips (only 2nd week though!)

M

Yes I got to work late yesterday at about 0835 and I missed out on profit... But I more than made up for it today (y)
 
what is the risk reward ratio for this strategy?
how many points could i lose each day?

if the strategy delivers consistent profit, then surely you could ramp up the risk from 2% of account?
 
what is the risk reward ratio for this strategy?
how many points could i lose each day?

if the strategy delivers consistent profit, then surely you could ramp up the risk from 2% of account?

You bet with stop at 30 pips, Limit 50 pips: so your max loss is 30 pips * your £x per point and profit potential obviously 50 pips * your £x per point.

You can obviously ramp up from 2% but that depends on your risk appetite
 
I got out for break even this morning. Was in a situation where I had to phone in and close my order... ah well must'nt grumble, its another one for the system.
 
if the strategy delivers consistent profit, then surely you could ramp up the risk from 2% of account?

Consistent has different meanings. You need to know the the percentage of wins to losses and what the average win is compared to the average loss. When you have this data you can use it to determine the likely consecutive losing trades and from that an acceptable level of risk to take per trade. This is much more important than many realise.


Paul
 
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