Richard Hill Forex Net Trap

I couldnt resist a quick short trade today. Signal was very weak but it paid off: Banked 15 pips at about 0825. As luck would have it my ETX safety net expires today and I didn't need it because I'm in profit over the 10 days. Typical: just watch it dwindle over the next 10 days ;)
 
Well after a bit of a rollercoaster NT closed +17 pips for me- question is -should I have let it run on some more ?
Any one know about dispersal patterns ? not sure, but I think thats what all that volatility
was about between 7 and 8 o'clock. (what little I know is that , when the big money is preparing to abandon its positions it can't do it all at once as it needs to keep the price up,
so it has several mini sell offs causing volatility but within a controlled range,once its done
then it starts shorting .:cool:
 
Claviceps said:
It's official the crossing of fingers - does work -sometimes :cool:
Click to expand...

Fair enough. I look forward to 3 months of back tested data:D

So from a weak sell signal this morning, NT would have banked about 20pips by 8.30, I'm sure RH will claim that one on Monday!

Employment data due shortly ? - may have a look into it, see if I can catch anything. As my ETX account is actually well in the black, I'll be risking the money I won, unless I have a massive and foolish punt today. :idea:
 
Mini Net trap MNT banked again today.

Sell 14803 limit 14793 stop 14833

June TD +30 (Wins x 9 +90 loss x 2 -60)



M

p.s For those that could have avoided Monday 7/6/10 unfortunate loss due to tighter spreads than IG 3 pips MNT would be +60 for June to date.
 
Claviceps said:
Well after a bit of a rollercoaster NT closed +17 pips for me- question is -should I have let it run on some more ?
Any one know about dispersal patterns ? not sure, but I think thats what all that volatility
was about between 7 and 8 o'clock. (what little I know is that , when the big money is preparing to abandon its positions it can't do it all at once as it needs to keep the price up,
so it has several mini sell offs causing volatility but within a controlled range,once its done
then it starts shorting .:cool:
Click to expand...

TNT 60/60 for me today, i'm a crazy fool.

MNT +10

NT ?? As drop was so severe when I look at my mobile @ 8.30 and as MNT had banked I decided to gamble and leave it running. Now back at the PC have set a limit for 150 and a trailing stop distance 30 travel 10. So +10 on NT is the worst for me today so far but might do better?

M
 
mark120169 said:
TNT 60/60 for me today, i'm a crazy fool.

MNT +10

NT ?? As drop was so severe when I look at my mobile @ 8.30 and as MNT had banked I decided to gamble and leave it running. Now back at the PC have set a limit for 150 and a trailing stop distance 30 travel 10. So +10 on NT is the worst for me today so far but might do better?

M
Click to expand...

Looks like the 9.30 news was good. NT trailing stop just hit @ 14783 so +20 for NT today for me.

M
 
+ 18
Any feedback yet as to wether its possible to use an automated stop?
thanx
 
stevepatt said:
Two important anoucements to come at 8.30, as below, could influence the way the market will go.

Take care Tanguero as to which way it goes.

GBP Claimant Count Rate (MAY)
GBP Jobless Claims Change (MAY)
Click to expand...

Is there a site where you can have email alerts sent to you with upcoming date as above?

Thanks
 
Denman said:
+ 18
Any feedback yet as to wether its possible to use an automated stop?
thanx
Click to expand...

I think you mean an automated stop at 8.30, since our stop at losses and limits are automated anyway?

Not that I know of. SA Trader was asking this earlier - If the 8.30 auto stop could be done, it'd be in the manual. The good till cancelled feature only applies to unfilled orders, so if you are using NT as per manual, you still have to log on at 8.29 anyway to see if the order has been placed to close manually.
 
G'day Sirs!

As someone who is still pondering whether to dip a toe into the NT pond, I must say that I have nothing but admiration for the 'studious commitment' and loyalty of you guys to a 'system' (like all Forex others), that 'hopes' to make financial gains from the unknown!

That being said, having looked at the charts retrospectively (hindsight is such a wonderul thing), my understanding is that today 'could' have been interpreted as a 'very weak sell signal' (but realistically, as most of you tend to agree, a no trade) and 'could' have picked up a maximum +44 pips profit if riding the 8.30 candle to completion.

Just an observation from the Forum's 'unofficial observer!'

Good day Sirs,
Mike
 
MikesDirect said:
G'day Sirs!

As someone who is still pondering whether to dip a toe into the NT pond, I must say that I have nothing but admiration for the 'studious commitment' and loyalty of you guys to a 'system' (like all Forex others), that 'hopes' to make financial gains from the unknown!

That being said, having looked at the charts retrospectively (hindsight is such a wonderul thing), my understanding is that today 'could' have been interpreted as a 'very weak sell signal' (but realistically, as most of you tend to agree, a no trade) and 'could' have picked up a maximum +44 pips profit if riding the 8.30 candle to completion.

Just an observation from the Forum's 'unofficial observer!'

Good day Sirs,
Mike
Click to expand...

That's Numberwang! :LOL:

(But not Net Trap) :whistling

M
 
MikesDirect said:
G'day Sirs!

All this talk of modifying & tweaking! Do you not think that RH has also done his modifying & tweaking and settled on a 'system' that he 'thinks' will perform well in the long term?

All this talk of this trap, that trap, other trap, maybe trap, perhaps trap, what if trap and almost trap!!! It's in danger of becoming a load of CLAP TRAP!!! :)

Good day Sirs!
Click to expand...

I tend to agree. I've manually backtested 2 years of recent data on forextester with various permutations of profit targets, to attempt to increase profits/decrease losses, and whilst certain combinations perform better for the odd month, I can find nothing that works as well as the original in the long term. So I'll be sticking with the original. Five 30 point losses in a row have happened in testing, as well as five +50's in a row. Just because this happens doesn't mean the system is broken and need to be re-written.
 
I think the standard Net trap is great for unattended trading, but if i'm at a computer and able to watch the charts, etc, i'll be using a few of the ideas mentioned recently, such as MNT and trailing stops. Looking forward to increasing my stake size shortly :devilish:
 
Wagtail said:
I tend to agree. I've manually backtested 2 years of recent data on forextester with various permutations of profit targets, to attempt to increase profits/decrease losses, and whilst certain combinations perform better for the odd month, I can find nothing that works as well as the original in the long term. So I'll be sticking with the original. Five 30 point losses in a row have happened in testing, as well as five +50's in a row. Just because this happens doesn't mean the system is broken and need to be re-written.
Click to expand...

Any luck with other majors?
 
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