whatreallymakesmoney
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Yeah be carefull watching trades because when I do it my balls drop off and I end up losing profit!
Fire and forget!
[/QUOTE]
Yeah be carefull watching trades because when I do it my balls drop off and I end up losing profit!
Fire and forget!
[/QUOTE]whatreallymakesmoney
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I agree rookie, have you signed up to Richard's email service. It's an okay read and he answers FX questions even if you're not a member of Net Trap. Sign up here and grab the free report he's bribing you with: www.Fxroundup.info
fulham1985
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I was about to accuse you of posting an affiliate link then but i realised its a free report anyway! Oops.
How often does he send the emails? I dont want to be blasted every other day.
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whatreallymakesmoney
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I was above to accuse you of posting an affiliate link then but i realised its a free report anyway! Oops.
How often does he send the emails? I dont want to be blasted every other day.
Do one 'Fulham1985' - by my calculations you're only 12 (okay 24 going by 1985 on your username) so leave the trading side alone and go buy some hubba bubba :cheesy:
On a more serious note i think it's twice a week but they are good. No I DON'T GET any money and I'm not Richard's son, grandson or lover in case you were wondering!
Over and out...
WRMMoney
peterf1966
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Yes, I'm certain IG index went from order to open position a point or 2 off the level I set it this morning, unless it was my bleary eyes?
Tenapenny
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With 2% risk which is £20, it depends what the stop-loss is for this system. For example, if the stop is 20 pips away you will be using £1 a pip so you make £50. If the stop-loss is 40 pips away then at 2%, £20 again, you should be trading at 50p a pip so £25 profit. My advice is to read up on basic Money Management to protect your capital, because that is the aim, especially when you are learning. Good luck.
Yeah, I get fxroundup and I've ordered the net trap and I'm just waiting for it to arrive. I recieved an e-mail the other day for February. Ok it was a losing month but judging what people say about it profits do look regular.
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peterf1966
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If you followed it exactly as per the book, your max risk of 2% would be £20. The system recommends a 30pip stop loss, and so your bet per pip would be £20/30 = 67p. So the profit would be 67p x 50 = £33.50.
This morning I didn't trade, according to the book, the conditions wern't quite right, and one of the important things in there is 'if in doubt, stay out'.
I'm waiting to learn the lesson of losing next, just to reinforce that every trade cannot be a winner!
Rugby Trader
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Week 1: +13.5 pip profit
Week 2: -36.4 pip loss
Mon 01/03: no trade due to my alarm breaking in the middles of the night!!!
Tue 02/03: +50pips
Wed 03/03: - 30pips
Gotta say I totally disagree with you on the signal Peter, to me it was an extremely bright and clear buy signal this morning.
Unfortunately I got stopped out pretty quickly, so you made the right decision anyway.
Will PM you to see what you saw.
Week 2: -36.4 pip loss
Mon 01/03: no trade due to my alarm breaking in the middles of the night!!!
Tue 02/03: +50pips
Wed 03/03: - 30pips
Gotta say I totally disagree with you on the signal Peter, to me it was an extremely bright and clear buy signal this morning.
Unfortunately I got stopped out pretty quickly, so you made the right decision anyway.
Will PM you to see what you saw.
stricky1967
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Hello there, interesting....
But I did place a trade as the 40ma was showing a clear upwards direction, what was the reason for you not to?
cheers
J
Rugby Trader
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Hi Stricky,
I placed a trade too as the buy signal was pretty clear to me. I take it you got triggered and promptly stopped out like myself?
RT
I placed a trade too as the buy signal was pretty clear to me. I take it you got triggered and promptly stopped out like myself?
RT
stricky1967
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By the sound of things after tuesdays' trade the system was 100 pips in profit even if for the rest of the week losing trades happen the system is 10 pips in profit!! That is if the worst of the worst happens!
Thumbs up for this week whatever the next few days throws at the system
Thumbs up for this week whatever the next few days throws at the system
Rugby Trader
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yup, although i missed Mondays, i'm up 20 for the week so far.
peterf1966
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Ive just pm'd Rugby Trader with it, but as you are asking as well.
I was undecided because the precceding candles had been flat from about 2am, and downward from 4am. So I considered a sell trade, but that would mean going against the rising MA, hence my indecision, and invoking the 'if in doubt, stay out' principle.
Be intresting to see what Richard Hill reports on this. But it might just have been my inexperience showing, and by the system, I should have traded, even though I would have been down 30.
Weirdly, if I had of placed a sell trade, I'd have made a very small profit. Dangerous territory really, I'd have been winning outside the instuctions of the system, and therefore might have gained some false confidence - the worst kind!
Peter
stricky1967
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many thanks for the reply Peter,
OK I understand now, you were rightly or wrongly trading on earlier data rather than strictly following the rules of the system.
For a moment this morning I thought i may have missed somthing in the system.
I can see where you are coming from and this morning proves you were correct in this particular instance. However in my opinion to perform a meaningful and valid appraisal of the system it would be best to stick to it, otherwise the results obtained will be largely meaningless as you are introducing conditions outside of the system.
Begging the obvious question to be answered, why indeed follow it? Why not bolt things (other conditions/criteria) on to it and develop your own system?
cheers
Jon
OK I understand now, you were rightly or wrongly trading on earlier data rather than strictly following the rules of the system.
For a moment this morning I thought i may have missed somthing in the system.
I can see where you are coming from and this morning proves you were correct in this particular instance. However in my opinion to perform a meaningful and valid appraisal of the system it would be best to stick to it, otherwise the results obtained will be largely meaningless as you are introducing conditions outside of the system.
Begging the obvious question to be answered, why indeed follow it? Why not bolt things (other conditions/criteria) on to it and develop your own system?
cheers
Jon
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Rugby Trader
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Could I point out that we shouldn't reveal too much of how the system works on here.
It is something that is being sold commercially.
Richard Hill (and therefore Agora) knows this thread exists and i'm sure they will be quick to protest (rightly so) if we are revealing too much.
Sorry too come across all serious but I don't want this thread to be forced to be deleted as it kind of forms an independent viewpoint of the system.
It is something that is being sold commercially.
Richard Hill (and therefore Agora) knows this thread exists and i'm sure they will be quick to protest (rightly so) if we are revealing too much.
Sorry too come across all serious but I don't want this thread to be forced to be deleted as it kind of forms an independent viewpoint of the system.
stricky1967
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whoops, removed.
peterf1966
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Yes I agree fully. It's my intention to stick with the system to the letter, I think I got the signals mixed up and was too cautious in not trading, and I think its only by luck that that was good this particular morning. It could easily have been the other way - I missed a clear trade signal, and if it had made a profit, I'd have missed out!
Only my 3rd morning though, so not the end of the world. After 3 days the system is at +70 this week, even if I lucked out and am still on +100!!
