Richard Hill Forex Net Trap

Does anyone use capital spreads as that is what i have got
Got my pack this morning and dont like what i am hearing with ig
Wont start trading till someone replies
 
peterf1966 said:
I'm sure that what's happening is well with the terms and conditions of placing business with them. The problem is, it's not jus ta few pips here and there, this could make all the difference between +50 and -30, a whopping 80 pips, because of the set and forget nature of NetTrap.
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I have a feeling this will happen whatever spredbetting company we go with.

Will be interested to hear how you get on with ETX.
 
re- ig
I have placed telephone orders before 7.00 am with ig and was put thro to the Aussie office , don't know if this accounts for all the slippage.
 
Got the book today. Smells brilliantly, the publishers use the right stuff!

As to the slippage, no surprise it happens. The strategy is based on breakouts, so if the breakout level is the level of a significant pivot then you would expect not just the happy bunch of trappers leaving their orders there but thousands of thousands throughout the whole market.

If somebody is using a broker giving a 2-pip spread instead of 3, they are 1-pip ahead of the market, which may be just enough to get better fills!
 
I've used all the S/B companies at one time or other, but only opened the ETX account yesterday because of the great £250 offer. I'm looking fwd to seeing how good they are: first impressions are positive.
Of all the other companies I've tried What I would say is that overall I think IG is by far the best S/B company. They've got a great platform and notwithstanding some of the comments posted about them today I think most investors vote them as good if not significantly better than the competition. Certainly compared to say Spreadex / Worldspread/Finspread they are streets ahead. I've had my run ins with them but I still think they are the most flexible and easiest to use.
Good luck for tomorrow chaps: I'm trying to avoid my worst run since I started this system in anger 8 weeks ago...
 
did u read the thread about the person who went into debt to the tune of 93000 pounds on a 2000 pound a/c trading the FTSE with IG Index?
 
insidergates said:
-11 for me (without slippage -6)!!!
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I was worse. -15.3 for me :( (-11.3 without slippage) But according to IG I closed @ 8.29am, not 8.30 as I was on the mobile but both the car RDS clock and my mobile clock had gone past 8.30 and they are about 20 seconds apart.

Think I will have to sync my mobile time with my PC clock now.

M
 
mark120169 said:
I was worse. -15.3 for me :( (-11.3 without slippage) But according to IG I closed @ 8.29am, not 8.30 as I was on the mobile but both the car RDS clock and my mobile clock had gone past 8.30 and they are about 20 seconds apart.

Think I will have to sync my mobile time with my PC clock now.

M
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Never had a problem with ig but then again I don't trade breakouts anymore. Try other sb co's or if you can, go dma.
 
fugly said:
did u read the thread about the person who went into debt to the tune of 93000 pounds on a 2000 pound a/c trading the FTSE with IG Index?
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Thats ludricous, but I guess it could happen. Spreadex offered me an account with no deposit. I turned it down: I want to know that I've deposited what I can afford to lose and ALWAYS use stops. We all know how trading without stops could wipe you out AKA that 1,000 pt drop on the DJ30 last month.
 
Well its a buy signal , but we've got 4 down candles in a row. A trade trigger doesn't look likely at this stage...
 
langmeadman said:
Well its a buy signal , but we've got 4 down candles in a row. A trade trigger doesn't look likely at this stage...
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Are you sure it's a Buy? The MA is flat from 5am-6.15. I'm still relatively new to this so I may be wrong but what makes you think it's a Buy?
 
gav2e said:
Are you sure it's a Buy? The MA is flat from 5am-6.15. I'm still relatively new to this so I may be wrong but what makes you think it's a Buy?
Click to expand...

I got a buy too. MA rose by 3 (2.7 exactly). But it one of those MA cresting days, I have placed a buy but if I get dragged in by a spike then stopped out I am enforcing my "MA cresting no investing" rule personally from now on.

M
 
gav2e said:
Are you sure it's a Buy? The MA is flat from 5am-6.15. I'm still relatively new to this so I may be wrong but what makes you think it's a Buy?
Click to expand...

Check some of the examples in the manual, some appear to be very weak signals like this morning's but nonetheless it is still a signal as the criteria has been met.

MA is rising over the specified period.
 
Is a buy yes, MA up 3 but levelling. On ETX today, I like the look of the platform, looks better than IG, but lets see if there's slippage if it triggers. £250 cushion anyway!:D
 
The book isn't clear if we should look at the MA rounding the decimal or not, hence hesitant today as its my first week on this system. But as everyone is confirming a buy, I placed an order - its a system so just follow the rules.

Will be helpful if Richard Hill could confirm the MA and if a 0.1 is sufficient to say its a move. It must be very rare for an MA not to have changed by that small amount (or is it more common than I think - not studied enough charts to know really). Any insight appreciated.
 
From what I understand it is ok if the MA falls - as long as the fall is not over 2 consecutive candles. On that basis I have entered a Buy at 14620. Please correct me if I'm wrong.
 
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