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Has anyone ever heard of Felton Trading? (www.feltontrading.com)

  #131 (permalink)

 Vendor: www.jigsawtrading.com 
Bangkok
 
Trading Experience: Intermediate
Platform: MultiCharts.NET, S5, Ninj
Broker/Data: AMP, S5, IB
Favorite Futures: ES
 
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rogerf View Post
  • In trading, the system is everything. A monkey should be able to win with it or else it's snake oil.
  • Hard work, study and lots of practice are unnecessary if you find the right trading system. It's surely out there and shouldn't cost more than a few dollars.
  • A mentor's trading statements are proof positive that everyone will be successful.
  • Anyone good at anything that makes money would have to be insane to want to teach it.

When I got to this point in the post, I thought "What Nonsense!!!"


rogerf View Post
Anyone really believe any of that stuff? A lot of traders do. If I buy Tiger Woods golf clubs, I'm guaranteed a win in the Masters Tournament, right? There is no trading system in the world that will make you a dime without lots of work. You have to know the markets you're trading for they each have their own little quirks. Your trading system is simply a tool to be used like a carpenter would use his table saw. If he never learns how to use that saw...and never practices with it, he'll probably not make it in his chosen craft.

Then of course, the penny dropped!!


rogerf View Post
Most traders who are not successful are ones that just got in their own way. Anyone who thinks they can work through their mental blocks and develop a winning trading system on their own or by reading a few books are kidding themselves. It can be done but most people don't have a decade or two to get there. Most highly successful trading professionals had a good mentor who could also teach. There's a great article on this topic in the Oct. issue of Active Trader magazine (pg.49).

I have to agree with this. What careers are there where you can just turn up (in your pyjamas) and start making money without any tuition or guidance?

Traders that think they can find a magical system may also be interested in:

"How to beat the dealer at Black Jack"
"Surefire way to pick winners in Horse Races"
"Get millions in grants from the government"
"Earn $1000 a day as a copywriter"
"Buy million dollar houses for pennies at government auctions"

etc.etc.etc.

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