Net Trap Forex Trading System Review

This is a system provided by Richard Hill who is a “quiet fisherman” who has exposed “his secret to stress free Forex profits, swapping the trading floor for a fishing net”. The system trades GBP/USD once a day at 06:30 UK Local time and takes less than 10 minutes each morning. The manual is well written with one page in particular defining the bulk of the system, the remainder being mainly for beginners and those wanting to know a little more about the guts of the system. It details what the strategy is about and goes into quite some detail about opening a Spread betting account, placing orders, stops, targets etc.

Net Trap is an easy system to set up on any trading platform and we traded the system in real-time from the end of March to the end of April, 5 weeks. Entry is 100% mechanical as is the Stop and Target, fixed at 30 and 50 respectively.

We also back-tested all of February and March. Results were February +51 pips, circa +3.5%, March +124 pips, circa +8% and April (which was all traded in real-time) showed a net profit of +34 pips, circa +2%. This is the kind of system we like, it ticks a lot of our boxes, which many of you are now familiar with. The timing suits us, it is 100% mechanical (especially if you translate the rules into an indicator), it’s almost effortless and has also proven profitable (albeit over a short period of time).

We will be continuing to trade this system in real-time with the potential view of adding it to our Systems We Use list. A little more due diligence is appropriate for a system we have only been running in real-time for 5 weeks.

Please visit http://www.systemsfortraders.com/ to read our full review of this system and many other Trading systems and services.

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