Anytime Trader Review – Richard Hill

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  • #1010
    ReviewTeam
    ReviewTeam
    Keymaster

    Anytime Trader Review – Richard Hill

    Click below to visit the website

    Key Info

    Publisher:  Agora
    Cost:  £247 with a 4 week money back guarantee
    Review Date:  January 2012

    What It Says On The Website

    He’s back!

    If systems were named in a similar vein as films or kings this would be titled Richard Hill III or Richard the 3rd respectively, as it is the successor to Forex Net Trap and Newsnight Trader. Here is a link to our original Forex Net Trap review as well as our original Newsnight Trader review.

    Richard states that “this is one of the first proven and profitable trading strategies genuinely designed with YOU in mind”. This time the system is “designed for you”. After “listening to feedback from thousands of his Forex Round-Up readers” he has created a successful strategy that lets you trade at any time.

    The strategy is suitable for all levels of trader. It trades just one currency pair, EURUSD, it’s based on 5 simple steps and often trades are over and done within 15 minutes, most within half an hour. Risk per trade is always 40 PIPs, that’s £40 a trade if trading at a £1 a PIP.

    You can “Bank a quick £40, £20 or £70 tax-free whilst your wife tries on new shoes in Debenhams”, you can trade in the morning, lunchtime and/or in the evening. You can even trade on a laptop, a smart phone or an iPad.

    Richard (who classes himself as an “expert”) has been testing the system for 8 months, he started in March 2011 – “If you had been doing this too, you’d have already racked up a tax-free £2,594” and there has not been one losing month.

    We did some quick stats on the 9 months results published on the sales page. Staking £1 a PIP and risking 2% per trade it means the system has returned an average of almost 14.5% (£288) a month and 130% over the period. Risking 2% per trade would require a starting bank of £2,000 to achieve the £288 per month, £2,594 total, tax-free return.

    Out of interest to achieve the returns based on “£5 trading” as it’s quoted on the sales page a starting bank of £10,000 would be required if adopting the same risk profile.

    The system has a 30 day Money Back Guarantee backed by Agora.

    The Material

    Anytime Trader comes as a 111 page manual. The overview re-iterates much of the sales page content but also indicates that the system is best used between 10:00 – 10:45 and 13:00 – 16:45 UK time.

    The 10 point summary on page 3 is useful and for those with some experience it will mean that reading the rest of the manual is a process of clarification. It took us about 20 minutes to flick through the rest of the manual and come up with a clear rule base: we were ready to trade.

    In reality the rest of the manual is split 50/50 between explaining in detail the system and then walking through examples. It is of course necessary for anyone new to trading, but as we mentioned already, for those with experience it really does just require a quick scan to confirm the 10 point summary.

    All in all a well written manual and the first one we have come across that provides detailed reference to trading on the Apple/Android operating systems.

    The System

    Anytime Trader is, for us, the first offering from Richard Hill that is truly 100% mechanical. In fact we were able to program a simple indicator (in MT4) to use to trade in real-time and back check results we missed if we could not trade live. Sorry, but for obvious reasons we cannot distribute this indicator.

    The system is easy to set up and it is also just as easy to trade. The main caveat is that beginners may take a while to get used to opening and managing 2 lots (trades) at the same time. In the manual it also mentions and walks through trading on a smart phone/iPad. This is still something we consider absurd and whether or not it is feasible to trade this (or any other system) “on the go” (why on earth would anyone ever want to!), we cannot comment.

    The Stop for both lots is 20 PIPs with the Targets placed at levels where the Risk:Reward works out at 1:1.75. There are various outcomes to the trade depending on Price action and manual Stop movement, which we performed every 15 minutes. Stop movement can be done in real-time or every 15 minutes, we chose the latter as it was simply more convenient.

    Risk per trade, we applied the 2% indicated in the manual.

    Can It Work

    Although the name suggest “anytime” the manual clearly states the best times to apply the system are between the hours of 10:00 – 10:45 and 13:00 – 16:45 UK time, so that’s what we did. This entails being around every 15 minutes during these times to take new entries and move Stops, as per the Trade management rules, for open trades.

    Our results for January trading EURUSD only, as per the manual, were as follows. We used our GKFX account (where we can Spread bet directly from our MT4 charts):

    · Time period / Time-frame = 1 month / 15 minute
    · Time Traded = 10:00 – 10:45 and 13:00 – 16:45 UK time
    · Risk Per Trade = 2.00%
    · Number Of Trades / Winners / Losers = 40 / +19 / -21
    · Percentage Of Profitable Trades = 47.50%
    · Average Winning / Losing Trade = +1.80% / -1.77%
    · Profit Factor (Gross Profit / Gross Loss) = 0.92
    · Largest Drawdown = -10.00%
    · Average Per Month Return = -2.90%

    A small loss for us in January which really could have gone either way, one more positive trade and it could have been a small profit. Our actual results and the more impressive results the system achieved last year according to the sales page are though less relevant here in our opinion.

    What is more relevant is that previous systems disappointed on the longer term performance front, this is certainly true when compared to the results on the initial sales pages. What we would have preferred to see with this follow up system is more proof of longevity. One month of real-time exposure and 8 months of website data is little foundation for us to commit to trading this system longer term.

    Support

    We had no reason to contact support but we are led to believe Richard is typically prompt to answer queries.

    Summary

    PRO’s
    • Easy to set up and trade.
    • 100% mechanical.

    CON’s
    • Longevity – We would prefer to see a longer period of proof than 8 months website data based on our experience of previous products by the same vendor.

    Do remember, your comments are important – If you have used or decide to use this system, please contribute to the community by reporting back your findings.

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    #1014
    ReviewTeam
    ReviewTeam
    Keymaster

    Systems For Traders had to be rebuilt in 2013

    This is a selection of key posts and comments from the original forum prior to the rebuild

    zorba_g

    03-Feb-2012

    Thanks for the review RT. I was really looking forward to this one as Forex Net Trap was my very first system and it worked well enough for a while to get me hooked – I used to trade it on my Windows 6 mobile on IG markets whilst driving to work (nearly ate bumper a few times, I can tell you).

    Could it just be that January was a bad month? Looks like the kind of system that needs a trend maybe. Will you be following this for a month or two?

    ReviewTeam

    04-Feb-2012

    For us its not the fact that January was a bad month – We liked using the system, it’s simple and it’s mechanical although it does take up a little more time if you trade the hours we did.

    We have decided not to commit to additional monitoring for the reasons in the review – As per our Conclusion – Based on our experience of the long term performance of the two previous systems we would have preferred to see more proof of longevity for this one instead of just 8 months. Time will of course tell!


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    #1032
    ReviewTeam
    ReviewTeam
    Keymaster

    As we mentioned in the review this was Richard Hills 3rd offering, we also reviewed the previous two and here are the links:

    Net Trap Review

    Newsnight Trader Review


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