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Published on July 9th, 2010 | by Tom Wake

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Review: Net Trap System

by Charlie Wright

What you get with Net Trap is a forex trading method tailored for people to use before they start work… or before they go about their daily business.
Using a simple chart you place a forex trade order just after 6:30 am, on Monday to Friday (using the GBP/USD Forex pairing).
Admittedly this is early, but the idea is you spend about 5-10 minutes making this trade. The rest of the time you can get on with whatever it is you do in the morning.
Programme creator, Richard Hill explains that it’s like fishing because you set up your net at low tide (your 6:30am trade) then you wait for the tide to come in to see what you’ve caught (when you log on again at 8:30am).
When I ran through the ‘fishing’ process as it was laid out, it went roughly like this:
·         Computer on
·         Go to your spread betting account
·         Open the GBP/USD chart
·         Check the trade signal
·         Place an order
·         Do something else for 2 hours.
·         Check again at 8:30 am to see what’s happened.
·         If the trade has not hit the profit target limit or the stop loss automatically, then you close it manually.
So really this does what it says on the tin. If you’re looking for a FX opp to get your teeth into, and you want something simple that doesn’t need a lot of computer time, then this one could be for you.
The only drawback, if you can’t do mornings, then it’s probably not for you.
UPDATE: This product is currently closed to new members. Why not check out the review section for similar products?

 


About the Author

My name's Tom Wake and I'm the editor of Insider's Edge. I bring you tips, tricks and shortcuts to help you save money, make money and save time.



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