Hi,

No you do not have to use IG - The signals can be read from any chart, however, we do believe that the official Net Trap results are based on IG charts - So as you know different charts have different price feeds thus you may get differing signals - a matter for you to consider that's all.


ReviewTeam - www.systemsfortraders.com

As promised here are our Net Trap results for June:

• 19 trades
• 8 winners and 11 losers
• Net profit of 18 pips, circa +1%

Note: % return is based on risking 2% of account balance per trade with a fixed stop loss of 30 pips.

Our trades compared to official Net Trap results.

Date Direction Our Result Official Result UDF Indicator
31-May-10 NO TRADE - BANK HOLIDAY
1-Jun-10 Short +26 +22
2-Jun-10 NO TRADE -30
3-Jun-10 Long -10 -10
4-Jun-10 NO TRADE -12
7-Jun-10 Short -30 -30
8-Jun-10 Long +10 +9
9-Jun-10 Long +50 +50
10-Jun-10 Long -30 -30
11-Jun-10 Long -6 -3
14-Jun-10 Long +50 +50
15-Jun-10 NO TRADE NO TRADE
16-Jun-10 NO TRADE +15
17-Jun-10 Short -30 -30
18-Jun-10 Long +20 +19
21-Jun-10 Long -5 -4
22-Jun-10 Short -15 NO TRADE DDFFFDFFUF
23-Jun-10 Short -30 -30 FDDFDFUFFF
24-Jun-10 Long -30 -30 UUUUUUUUUU
25-Jun-10 NO TRADE NO TRADE DFFFFFFUFU
28-Jun-10 Long -16 -25 UFUFFFFFFF
29-Jun-10 Short +5 +3 FFFDFDDFDF
30-Jun-10 Short -10 -14 DFFDFFFDFD
1-Jul-10 Short +50 +50 FDFDDFFDFF
2-Jul-10 Long +19 +21 UUUUUUUFUF

TOTALS 18 -9

Using this system in practice we have found it is not as mechanical as we originally thought and we have actually added a supplementary mechanical rule base of our own, this can be found here. We will continue, on the basis that we apply this rule base, through July and report back.

At the end of July we with hopefully form a decision on whether to finally add (or not) this to our Systems We Use list. In the meantime the Live trading room, participated in every morning by us and other members is open to everyone and we welcome you - here.


Do remember, your comments are important, if you decide to purchase this system, please support us by using our link and by reporting back your findings, both are valuable to us and the service.

ReviewTeam - www.systemsfortraders.com

I have just tried to buy the FNT system from the website but it says that this product is not currently available. Does anyone know how and where I can get a copy?

Thanks

Mode

We believe it is no longer available.

Here are our Net Trap results for July:

• 14 trades
• 7 winners and 7 losers
• Net loss of 12 pips, circa -1%

Note: % return is based on risking 2% of account balance per trade with a fixed stop loss of 30 pips.

Our trades compared to official Net Trap results.

Date Direction Our Result Official Result UDF Indicator
5-Jul-10 NOT TRIGERRED 0 0 FFDFFDFDFF
6-Jul-10 NO TRADE 0 43 FFFFUDUFUF
7-Jul-10 Short 36 36 FDDFDDFDFF
8-Jul-10 Short 1 0 FDFDFFDFDF
9-Jul-10 Long 10 10 UFFUFUFFFF

12-Jul-10 Short 40 36 DDDDDDDDDD
13-Jul-10 NO TRADE 0 NO TRADE FFFUFFFFFF
14-Jul-10 Long -30 -30 UUUUUUUUUU
15-Jul-10 Long -30 -30 FUFFFUFFFU
16-Jul-10 Long -30 16 UUUUUFFFFF

19-Jul-10 Long -7 -8 FFFFUFFFFU
20-Jul-10 Long 8 12 UUUFUUUFUU
21-Jul-10 NO TRADE 0 NO TRADE FFDDFFUFFU
22-Jul-10 NOT TRIGERRED 0 NO TRADE FDFDUFUUUF
23-Jul-10 Long -10 -8 FUFUFUFUFU

26-Jul-10 Long 25 27 UUUUUUUFUU
27-Jul-10 Long -30 NO TRADE FUFFFDUFFU
28-Jul-10 Long -4 -18 FUUFFUFFFF
29-Jul-10 Long 9 3 FUFUFUUUUU
30-Jul-10 NO TRADE 0 0 FFFDFFFFUF

TOTALS -12 89

The main differences between our 1% loss and the official 5% gain are as follows:
- 6th July - We called a No Trade and Richard called a trade and made 43 pips.
- 16th July - We were stopped out on TDW (by a whisker) as we are on a 3 pip spread, we reported a -30 pip loss instead of a 16 pip profit.
- 27th July - We went Long and lost -30 pips, Richard called No Trade.

We are still not convinced but have decided to continue trading this for one more month on very small stakes but we are more inclined to believe we will not be adding this to our Systems We Use list. The early rise not really justifying the return.

The Live trading room, participated in every morning by us and other members is open to everyone and we welcome you if you can get up in time - here.

Here are our Net Trap results for August (our decision on adding Net Trap to our Systems We Use list also follows):

• 15 trades
• 7 winners, 7 losers and 1 break-even
• Net loss of 11 pips, circa -1%

Note: % return is based on risking 2% of account balance per trade with a fixed stop loss of 30 pips.

Our trades compared to official Net Trap results.

Date Direction Our Result Official Result UDF Indicator
2-Aug-10 Long 50 40 UFUFUFUUFU
3-Aug-10 Short -30 -30 FDFFDFFDFF
4-Aug-10 Short -30 NO TRADE FFFFFFFDFD
5-Aug-10 NO TRADE 0 NO TRADE UFUFFFFDFF
6-Aug-10 NO TRADE 0 NO TRADE FFFFUFFFFD

9-Aug-10 Long -30 -30 FFFUFFFUFF
10-Aug-10 Short -10 -8 DDDDDDDDDD
11-Aug-10 NO TRADE 0 NO TRADE FUFUUDDDDDF
12-Aug-10 Long -30 -30 FFUFUFUFFU
13-Aug-10 Long -30 -30 UUUUUUUUUU

16-Aug-10 NO TRADE 0 NO TRADE FDDFFDFFFU
17-Aug-10 Long -30 -30 FFFFFUFUUU
18-Aug-10 Short 50 50 DDDFDFFDFF
19-Aug-10 Short 18 20 DDDDDDDDDD
20-Aug-10 Short 9 7 FFDFFFFDFD

23-Aug-10 Long 0 -4 UFUUFUUUUF
24-Aug-10 Short 34 40 DDDDDDDDDD
25-Aug-10 Short 15 18 DDDFDDDFDF
26-Aug-10 Long 3 3 UUUUUUUUUU
27-Aug-10 NO TRADE 0 22 FFDFFFFFFD

TOTALS -11 38

The main differences between our 1% loss and the official 2.5% gain are as follows:
- 4th August - We called a Short and Richard called a No trade, we lost 30 pips.
- 27th August - We called a No Trade and Richard called a trade for a 22 pip profit.

See below for our final decision regarding Net Trap.

We have now been running Forex Net Trap for 5 months (April - August) on a live account, most of which has been traded in our Real-time Trading room here.

Our results over this period were as follows (our month starts and ends where the majority of the working days fall into the same month - e.g. if the 1st April is a Wednesday this equals 3 days in April (Wed/Thurs/Fri) in the week so that week will count as being in April - So for August this year, as the 31st is on a Tuesday, it means that week will be included in September - Wed/Thurs/Fri falling in September - sorry to be long winded but want to be clear on how our results are calculated):

April - 5 winning trades and 4 losing trades, +34 pips profit, Official Net Trap result +34 pips profit.
May - 4 winning trades and 4 losing trades, +54 pips profit, Official Net Trap result +37 pips profit.
June - 8 winning trades and 11 losing trades, +18 pips profit, Official Net Trap result -9 pips loss.
July - 7 winning trades and 7 losing trades, -12 pips loss, Official Net Trap result +89 pips profit.
August - 7 winning trades and 7 losing trades, 1 break-even, -11 pips loss, Official Net Trap result +38 pips profit.

It means based on a 5 month trading period we have made a 6% profit based on risking 2% per trade and a Fixed Stop loss of 30 pips. This compares with the 12% according to the Official Net Trap results.

Differences have largely been due to the non-mechanised (at times) nature of the Official Net Trap system. All of our trades were based on a mechanical rule base we defined. This was as close to making the system mechanical as we could get given our resources. "Left handed" trades as one of our members so affectionately put it also affected results, the official call made in hindsight on days when system discretion was at its most volatile.

We will not be adding Net Trap to our Systems We Use list for a number of reasons; it is not really measurable due to its discretionary nature, it is difficult to obtain not just the same official results it is difficult to consistently enter on the "correct" trading days, finally and possibly the main reason, we just do not feel it is worth being the sole reason for giving up over an hours beauty sleep each week-day morning, considering the reward.

It is worth us mentioning two positives here. The plus is that although profit is not stellar, drawdown on a monthly view has been well contained. Additionally, we know from some of our members that over at t2w they have adapted the system and seem to be profitable after incorporating a variation or two. As always, our purpose is to provide as best possible our view on the "vanilla" system as it performs "out of the box", hopefully you will concur with our decision.

We will be having a lie in from now on, however, the Net Trap trading room will remain open for as long as it is deemed useful to members and we will of course observe and comment, it just will not be in real-time as previously.

Just a quick heads up for any non-Net Trap owners who fancy a slice of the action: Richard Hill and Agora have re-opened Net Trap for a short while, for members of their free Forex Round Up newsletter. If you want to sign up to the newsletter, click here. It's not bad for free and I've picked up a few tips over the past year from it - although it does obviously (as it's from Agora) carry a fair few ads. Please note that I'm not endorsing Net Trap or affiliated in any way to Agora (although I do trade it (badly) and buy quite a few of their products).

Z

hi
have just purchased net trap, first time trader, could you tell me how to write our own indicator for IG Index advanced charts to tell us if there was a trade and, if so, what our exact Entry, Stop and Target was.as stated in your review,
regards
scan

The Net Trap code and indicator is in the Net Trap Trading Room - here.