Newsnight Trader Review – Richard Hill

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  • #1018
    ReviewTeam
    ReviewTeam
    Keymaster

    Newsnight Trader Review – Richard Hill

    Click below to visit the website

    Key Info

    Publisher:  Agora
    Cost:  £247 with a 60 day money back guarantee
    Review Date:  January 2011

    What It Says On The Website

    He’s back!

    Richard Hill of Forex Net Trap fame is back with a new Trading system – “Spare ten minutes during the News at Ten to raid the Forex markets for £140, £56 or even £420 tax-free”.

    Not a “shred of Forex experience” is required to “follow my simple, step-by-step strategy each night before you go to bed”. There is “no stress”, “no complicated computer programmes” and “no impossibly advanced analysis to get your head round” – Just “ten minutes at ten o’clock”.

    Twenty five beta-testers have been using the system since September (2010) and most of them offer some form of positive testimony on the website. The system promises to deliver “significantly more wins than losses” to provide a “consistent stream of income”.

    The monthly track record is also provided on the website, an impressive £23,100 return over 15 months from September 2009 – November 2010. This is an average return of £1,540 per month based on trading at £5 a PIP.

    We did a few sums – Risking 5% per trade as suggested in the manual and trading at £5 a PIP would require a starting bank of £28,000 and a risk £1,400 per trade. It also means that the average £1,540 per month return equates to a net profit of just over 5% a month, or 60%+ in 2010.

    Only 300 copies of “what will be the most sought after Forex system of 2011” are being sold.

    The Material

    A 95 page, what can only be described as a, very well written and presented manual. A dozen pages on opening an account (with Shortspreads – but not mandatory), a dozen on setting up charts and 20 pages each on the Buy and Sell signals respectively. The manual rounds off with a Risk & Money management and FAQ’s section.

    We would go so far to say that anyone that doesn’t understand this system after a read through or two and an hour or so (maximum) should not really be let near a trading account.

    The System

    Newsnight Trader is what it says on the website:

    • It’s simple to set up – One industry standard indicator on the Daily EUR/USD (the only instrument traded) chart – 1 minute maximum to set this up.
    • It is operated around 10pm (UK time) and takes no more than a couple of minutes each session.
    • It’s Set and Forget with only a little trade management, if one of two targets are hit. This trade management can be done each evening when looking for a signal or, if preferred, during the day – A matter of choice.

    Trades run for 2 – 5 days and the Risk:Reward is 1:1.5. 5% of account balance risk per trade is suggested in the manual.

    Can It Work

    Since we have been using Newsnight Trader we have had two trades, one on the 5th and one on the 13th of January. One made +280 and one made +420 PIPs, that’s 700 PIPs to date.

    With a risk of 280 PIPs and 5% of account per trade thats a 12.5% return so far in 2011. So, a flying start for Newsnight Trader – We will be keeping an eye on this one for another couple of months (at least) and reporting back.

    The only other thing we could do review wise was to compare 2010’s official results with a back-test of our own (due to the simplicity of the system we thought this feasible):

    Newsnight Trader 2010 Backtest vs Official Results

    JANUARY – 10-Jan +140 PIPs – Total – +140 PIPs (Official +140 PIPs)
    FEBRUARY – No Trades (Official +140 PIPs)
    MARCH – 18-Mar +420 PIPs – Total – +420 PIPs (Official +140 PIPs)
    APRIL – 27-Apr -280 PIPs – Total – -280 PIPs (Official -280 PIPs)
    MAY – 4-May +420 PIPs, 11-May +420 PIPs, 18-May -280 PIPs, 24-May +140 PIPs, 26-May -280 PIPs – Total – +420 PIPs (Official +980 PIPs)
    JUNE – 4-Jun -280 PIPs, 4-Jun +140 PIPs – Total – -140 PIPs (Official -140 PIPs)
    JULY – 1-Jul +280 PIPs – Total – +280 PIPs (Official +840 PIPs)
    AUGUST – 2-Aug +140 PIPs, 11-Aug +280 PIPs – Total – +420 PIPs (Official +140 PIPs)
    SEPTEMBER – 7-Sep -280 PIPs, 13-Sep +420 PIPs, 24-Sep +420 PIPs – Total – +560 PIPs (Official +560 PIPs)
    OCTOBER – 5-Oct +140 PIPs, 28-Oct +420 PIPs – Total – +560 PIPs (Official +560 PIPs)
    NOVEMBER – 9-Nov +280 PIPs, 15-Nov -280 PIPs, 23-Nov +420 PIPs – Total – +420 PIPs (Official +560 PIPs)
    DECEMBER – 15-Dec -280 PIPs – Total – -280 PIPs (Official – 0 PIPs)

    That makes it 2,240 PIPs for us against the 3,640 reported for the same period or a return of around 40% vs 65%. Of course, we did not trade in real time and our results are based on “eye-balling” the historic EUR/USD Daily charts (on Smart Live Markets).

    So, it seems that 2010 was a good year performance wise (even based on the official results being 50% greater than our own back-test) and 2011 has kicked off in impressive fashion. On this basis we will continue with this system for another couple of months or so and report back.

    Support

    We had no reason to contact support so cannot comment.

    Summary

    PRO’s
    • Profitable in 2010 and 2011 has gotten off to a great start too.
    • A well written manual means even the complete novice will be up and running in an hour.
    • Mechanical, Set & Forget, a few minutes each evening.

    CON’s
    • None really at present except for maybe, us not matching the 2010 results on a back-test – Granted it’s not as accurate as live trading nor is it a huge difference to actual.

    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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    #1021
    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

    25-Jan-2011

    Thanks for that RT- I got similar backtest results myself.

    What is important is that people don’t blow their whole account on one trade by using ‘just £1 per pip’. I saw it suggested on a MMR email recently and it annoyed the hell out of me. All publishers are doing themselves a disservice if they encourage customers to take undue risk, as those customers might buy one product and then quit when they blow their account. Unless of course they blow that account at the publisher’s own broker… hmm…

    Despite all that ranting, I quite like this system. It’s really easy to run every night and is quite stress free if. You. Just. Watch. Your. Risk.

    ReviewTeam

    25-Jan-2011

    Z – Sound advice – Thanks.

    ReviewTeam

    31-Jan-2011

    No new trades to report since we published our review.

    Our results for January are therefore – Two trades, one on the 5th and one on the 13th of January. One made +280 and one made +420 PIPs, a net profit of +700 PIPs. With a risk of 280 PIPs and 5% of account per trade thats a 12.5% return.

    ReviewTeam

    05-Mar-2011

    2 trades in February, both losers for -560 PIPs or -10% based on 5% risk per trade. We will continue to monitor this system.

    sarniacherie

    05-Mar-2011

    My results are the same as the RT, so as my 60 day trial is now up I have sent my Newsnight Trader back to Agora for a refund.

    ReviewTeam

    02-Apr-2011

    We have had just one trade in March, Long on 17th. It has hit its first Target and the second half of the trade is still open having been with 0.5 of a PIP of Breakeven (on SML) and, more recently, within 55 PIPs of the 2nd Target. We will update as and when this trade closes out and provide a 2011 Year To Date position too.

    ReviewTeam

    02-May-2011

    We took two trades in April. We went Long on 8th April and got stopped out for -280 PIPs. On 20th April we went Long again, this time hitting both targets for +420 PIPs.

    Our open trade from March also hit both targets.

    Since the end of January we have had 3 losing trades and 2 winning trades – It means Year To Date we are in the same position we were in at the end of January, +720 PIPs which equates to +12.5% based on 5% risk per trade.

    ReviewTeam

    01-Jun-2011

    We took four trades this month.

    – Short on 5th May – Profit of +280 PIPs

    – Short on 11-May – Stopped out for -280 PIPs

    – Short on 20-May – Profit of +140 PIPs

    – Long on 27-May – Trade OPEN

    Year to date we are in profit by +840 PIPs which equates to +15% based on 5% risk per trade – We will update these results when our Open trade is complete.

    ReviewTeam

    02-Jun-2011

    Our four trades have now run to completion.

    – Short on 5th May – Profit of +280 PIPs

    – Short on 11-May – Stopped out for -280 PIPs

    – Short on 20-May – Profit of +140 PIPs

    – Long on 27-May – Profit of +140 PIPs

    Year to date we are in profit by +980 PIPs which equates to +17.5% based on 5% risk per trade.

    ReviewTeam

    30-Jun-2011

    We have taken 3 trades this month.

    – Long on 2-Jun – Profit of +280 PIPs

    – Short on 10-Jun – Stopped out for -280 PIPs

    – Short on 15-Jun – Stopped out for -280 PIPs

    Year to date we are in profit by +700 PIPs which equates to +12.5% based on 5% risk per trade.

    ReviewTeam

    31-Jul-2011

    2 trades this month:

    – Short on 6-Jul – Profit of +420 PIPs

    – Short on 21-Jul – Break-even as advised by email from the vendor

    Year to date we are in profit by +1,120 PIPs which equates to +20% based on 5% risk per trade.

    ReviewTeam

    31-Aug-2011

    5 trades this month:

    – Long on 03-Aug – Lost -280 PIPs

    – Short on 04-Aug – Lost -280 PIPs

    – Short on 08-Aug – Lost -280 PIPs

    – Long on 15-Aug – Lost -280 PIPs

    There is also an open trade on the Long side from 26-Aug but regardless of the outcome, as stated previously we are now ceasing coverage of this product. Yes, it’s only 5 minutes a day at 10pm UK time but at present we have made no profit after trading for 8 months. Even if the open trade wins we will be +5% based on 5% risk per trade. We stand by our view previously posted, this seems to be, at best, a break even system.


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    #1031
    ReviewTeam
    ReviewTeam
    Keymaster

    Richard first system was Net Trap and here is a link to our review. After Newsnight Trader he then released Anytime Trader, again here is a link to our review.


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