Richard Hill Forex Net Trap

Actually, I disagree, if i'd woken up on Monday and got into work on time yesterday I would be a further 69 points up on my 21 which would make for a 90 pip profit.

Which is essentially what you have bar your fortuitous decision not to enter on Wedensday.
 
Rugby Trader said:
Actually, I disagree, if i'd woken up on Monday and got into work on time yesterday I would be a further 69 points up on my 21 which would make for a 90 pip profit.

Which is essentially what you have bar your fortuitous decision not to enter on Wedensday.
Click to expand...

Yeah - looking at the charts and movements it's become clear just how important the entry position is - that you can do something about, but theres still the variability on manual closing, depending on the very second you close as the values chop and change.

Feel Ive learned much this last week, and still loads to learn too.
 
I really think that last Monday, following the system, we would have lost 18 pips -- with Richard's entry it would have at most hit 45 pips (including IG spread).

So Rugby Trader you need to thank your mobile! :)

personally, I happened to be watching and decided to exit with 35pips -- mixed feelings afterwards as although I made a profit, I did not follow the system... (I remember reading somewhere that if one has faith in the long-term performance of a system -- which for me in this case still needs to be established - one should be happy to have followed its rules to the letter and unhappy to have deviated, this independently of how the trade ended. I guess it's a matter of psychological discipline!)

I agree with Peter about the closing; if the market moves a lot, it can make quite a difference.

Barbara
 
+2pips today, a bit up and down then back where we started. Should have hung on another 20 minutes, then again that's outside the system.

Tried the close out with the mobile phone application, it works really well.

Rubgy Trader, try again with the mobile thing, it only worked the 2nd time I put in my number to request the link.
 
-9pips for me. I had to do it over the phone with a dealer as i was stuck on the bus for an hour and a half today! Looking at my actvity, the ticket was closed at 8.30, so the market must have moved around a lot in that minute.

Will try again for the mobile app.
I didn't feel to comfortable on the bus going 'can i sell cable please'.
 
.. and -12pips for me.
Peter you seem to have a magic finger!
Trading-bank wise I'm exactly (down to the penny) back to where I started... Well at least I'm not below :)
(Though a few hours' sleep short)
 
Rugby Trader said:
-9pips for me. I had to do it over the phone with a dealer as i was stuck on the bus for an hour and a half today! Looking at my actvity, the ticket was closed at 8.30, so the market must have moved around a lot in that minute.

Will try again for the mobile app.
I didn't feel to comfortable on the bus going 'can i sell cable please'.
Click to expand...

Yep - I just had a look at 8.30 on 1 minute candles. Within that minute was about 11 pips of movement upward, it looks like I exited at the highest point, so there you go the difference between 8.30.01, and 8.30.059!
 
barbaras said:
.. and -12pips for me.
Peter you seem to have a magic finger!
Trading-bank wise I'm exactly (down to the penny) back to where I started... Well at least I'm not below :)
(Though a few hours' sleep short)
Click to expand...

:LOL::LOL::LOL: Nah, just Dumb Luck, it will average out over the weeks.
I now go back to bed after the 6.30, I just watched that first one last Monday out of curiosity.

Small confession, because there was nothing happening on Friday morning, I had a look Friday night about 8pm, saw it going up and made a cheeky 20 pips then. I'm worried now, because I want to be disciplined enough not to trade outside the system, until I learn a lot more.:eek:
 
So to wrap up with roller-coaster week... According to Richard:

Mon -20
Tue +50
Wed -30
Thu +11
Fri -15
Total -4

I definitely prefer your variations Peter ;-)
 
peterf1966 said:
Friday was a weird one tho...we all kept out yet the system said -15??
Click to expand...

I did mention I thought it was a trade as the MA was going up, stayed flat for most of it but was at no stage going down so technically it was a trade.
I just don't think any of us were convinced enough to go for it.
 
yeh, it was a trade going by the book as the MA increasing but only by 1 over the given timeframe. If my memory serves me correctly. But it was too weak for most to have any confidence in, this is where discretion can be applied in the system I believe.
 
mon +2
tue frustrating morning +6. Again around 8.30 was a fair bit of movement. Also by 6.45 could have had over 30, but was asleep again by then :sleep:
 
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