Richard Hill Forex Net Trap

can this be done to succes, by someone who as no trading knowledge at all. thinking of buying the system, is it a book???? easy or hard, i need help here. getting on comp at 6.30am is no prob.
 
isiris123 said:
can this be done to succes, by someone who as no trading knowledge at all. thinking of buying the system, is it a book???? easy or hard, i need help here. getting on comp at 6.30am is no prob.
Click to expand...

Yes, yes and yes. I have trade shares since 2007 online but had never spreadbetted or had a spreadbetting account. I stumbles accross "netrap" via a link in a daily "moneyweek" update email. I readi it, thought it seemed a scam as it was very USA, wayhey, make £1000's every month etc, so I googled it and found this forum.

I read this forum for a few weeks then ordered it at the begining of May when my stake money became available. Opening an IG account was easy, the book is easy to follow, got the right mobile phone if you need to close outside not by a PC.

I am now about to start my third week trading netrap, and fitting right in with the more experienced on here. I made +37 pips (£1 pip in on now) for the last two weeks of May). Nothing is gaurenteed but it is working month on month, I think this Feb was the only losing month since it started in 2009.

So, I had never spreadbetted, never held or used a spreadbetting account, and never read anything about spreadbetting systems. I just got the book, read it a few times, got an IG index account, funded it with £100 and I was off. Started first "training" week @ 20p pip bets (£300 Stake needed) abd then up to £1 per pip for last week (£1500 stake needed).

OF course to see this as income making in reality you need to bet £10 pip at least so by the rules would need a £15k stake available.

But it is easy, fun, good support from the Author and a excellant bunch of fellow "netrappers" on here.

Make a decison quick all the emails say the offer closes at midnight tonight as I got another confirmation about this this morning. But I could not say if it will happen, but they might put the price up to the original £500 in 2009.

M
 
So can I throw in a question about the system ?

I have been on spreads on the FTSE 350 for 18 months and came to this net trap to fill-in with some of the chaos going - on in the FTSE.

But like any FTSE trader I am used to reading charts. In net trap we are told to go by the MA only and not the candles. But there are times when the candles are showing an obvious trend which the MA has not at that time caught up with. Last week there was an obvious situation where going with the candle trend would have hit the 50 very quickly, yet everyone followed the system and went the opposite way with the MA and all lost.

So have others calculated some rule-of-thumb where instinct following the chart is allowed to go against the 'system' ?

cheers

mish
.
 
missionary said:
So can I throw in a question about the system ?

I have been on spreads on the FTSE 350 for 18 months and came to this net trap to fill-in with some of the chaos going - on in the FTSE.

But like any FTSE trader I am used to reading charts. In net trap we are told to go by the MA only and not the candles. But there are times when the candles are showing an obvious trend which the MA has not at that time caught up with. Last week there was an obvious situation where going with the candle trend would have hit the 50 very quickly, yet everyone followed the system and went the opposite way with the MA and all lost.

So have others calculated some rule-of-thumb where instinct following the chart is allowed to go against the 'system' ?

cheers

mish
.
Click to expand...

I think from memory you are a talking about wednesday when the MA was "cresting" from rising to falling (maybe backed up by candles) but the rules showed it as MA rising still and a buy?

The system is mostly about limiting losses, and you should mostly be be protected by this with the additional spread you add to the buy price, meaning if the MA starts dropping your trade should not trigger hence you should not lose.

But.........as I pointed out before it happened, the problem comes when the MA starts falling after you enter the open order, then a high "buy" spike triggers your order dragging you in but then quickly keeps dropping to hit the stop and lose you 30 pips.

There is no way really of knowing this will happen. Of course you are always free to ingore netrap and go the opposite way and place a sell order, but then I think you will find from Wednesdays data that after a sell order was tripped quite early the "buy" spike that dragged all "buy" orders in would have also made the "sellers" hit their 30 pip stop. Hence the spike would have caused a loss either way.

Hence I came up with "MA cresting....no investing" , meaning in this situation even if the MA is telling you to buy or sell the imminent change in the MA direction will cause a loss if the order gets executed buy a "spike", so the best way to protect against that is just not to place a bet, no win, but no loss either.

Discuss!

M
 
Last edited:
Hi
'MA cresting - no investing' - nice one ! Got to try and remember that one. Although new to this forum I have been trialing the Net Trap System for a few weeks and have traded options in the past. My results are broadly in line with Richard Hills Claims , so I am I am a happy bunny , but I could be a happier bunny if I hadn't blindly followed the MA on that occaision. In general using the MA - 'Making the Trend Your Friend' will steer you in the right direction more often than not ,and this is one of the cornerstones of the Net Trap System . As you have pointed out there are those times when there's an indication that it might let you down on that particular occaision , I guess this could be considered a tweek to the system ,I will be looking out for it in the future.(y)
 
Count me in as well.

Any thoughts why RH is closing the subscription?

Just a few ideas:

1. To extend the lifetime of the system.
2. The system profitability declines.
3. RH is about to launch a new one.
 
Tanguero said:
Count me in as well.

Any thoughts why RH is closing the subscription?

Just a few ideas:

1. To extend the lifetime of the system.
2. The system profitability declines.
3. RH is about to launch a new one.
Click to expand...

We shall see. If netrap is removed from the Agora Lifestyles website tomorrow I will believe it.

M
 
Interesting trade set up this morning. Definite sell signal but last candles breached the MA in opposite direction: Looks doubtful we'll get a trigger this morning but we'll see....
 
SA Trader said:
WOW, 40 pips in the opposite direction already !!!
Click to expand...

Yes every timeslot , even 30 min and 1 hr shows MA changing direction, only the 15 min still shows the MA dropping although it is almost flat now.

The question is is this one of those small ups before a huge sell off sending the MA all back on track again and taking us in for a profit? Otherwise I too think trap wont set today.

Those that have the time spare sit and watch it via the 1 min timeslot, you see MA direction changes much earlier there, if the MA slows it's assent then flattens, then starts to drop we have a chance.

M
 
I thought the net trappers on this forum were inexperienced traders but judging by the last few comments they really know what they are talking about.
 
Hi fellow 'netrappers'. Really good thread, my first post here. I got my manual on Friday. Seems pretty straightforward. Decided not trade it yesterday due to Bank Hols in UK and US. Got my order in to go short at 14480 although market shot up after 6.15 candle completed, however, as I write it's moving down, every chance of being triggered...
 
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