Has anyone ever heard of Felton Trading? (www.feltontrading.com) | Trading Reviews and Vendors


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

  #163 (permalink)

somewhere, brazil
 
Trading Experience: Intermediate
Platform: metatrader
Favorite Futures: forex
 
Posts: 60 since Jul 2011
Thanks: 0 given, 23 received


rogerf View Post
About a year ago, Dr. John Kepler (professor) wrote an excellent article in Active Trader magazine titled, "A Good Trading Education is Hard to Find". I was impressed because it really drove home the fact that traders trading without proper training and knowledge are sunk from the get go. They blow up their accounts over and over making the same mistakes trade after trade, year after year. But they balk at investing in knowledge, education and close, personal, dedicated mentorship. He also points out that the most expensive trading knowledge free. He's got a point.

I'm not saying that with enough time, say, 15 or 20 years or so, and serious capitalization while you reinvent and overcome all the mistakes and pitfalls yourself, that you couldn't become a darn good trader. It's happened. It's just odd that people will spend megabucks learning income producing skills...from welding to medicine to commercial aviation. But they refuse to invest the price of a clunker used car on trading knowlege and essential trading mentorship.

It doesn't matter where you get your knowledge, training and mentorship as long as you get it and it works for you. You can get a lot of what you need here at futures.io (formerly BMT). Lots of good stuff here.

Addressing acbrasil's comment, I humbly request that you come into my room and openly ask the members how they are doing. It's an open forum where everyone sees everyone else and what they are saying. They'll be glad to answer your inquiry honestly and completely. As I'm writing this, here's an email I just received from one of my students, Noel. Some of you futures.io (formerly BMT) Elites may know Noel or be a friend of his from the room. Here's what his email said:

Hey Roger
Hope you guys had a good week. I didn't get to spend a lot of time in the room but had decent stats for the week.
39 for 45 +192 ticks
Noel

Sent from my Verizon Wireless BlackBerry


Understand, Noel's a darn good trader, for sure. But when he came to me he was a lumberjack...literally. He didn't know a chart from a can of fruit cocktail. As a trader, he was awful and he'll be the first to admit it. I spent many evening sessions with him and over months he evolved into a trader that I'd trust with my own account anytime. Now, does this prove that you too will do well? Absolutely not! I know that's probably not what you expected me to say, AC, but it's an honest answer. You may do well learning from someone, but please don't think the secret is in a trading system itself.

Personally, I think it's this rotten stinking industry that's made traders think this way. You can't open a trade magazine, surf the Internet or attend a tradeshow without being bombarded with get-rich-overnight trading systems and indicators. It's created a mass of "trader zombies" wandering around aimlessly looking for "the holyfriggingrail" when all they have to do is look in the mirror. Would you believe anyone who said that if you bought their golf clubs you'd make lots of money as a pro golfer virtually overnight? Then why do traders believe those scumbags claims??

The secret is in you, my friend. The answer is knowledge, training and mentorship and how hard you are willing to work.

Most traders need mentorship...and lots of it. From novices to seasoned veterans, we all must never stop learning and honing our craft. By mentorship, I'm not talking about a forum chat or a pep talk on Skype. Most traders need a trading professional who can also teach whom they can reach anytime they need for as long as they need...evenings, weekends, holidays. When the market has spanked you to the point where you have to trade standing up, you probably need help. Traders can easily derail and get in trouble when they're feeling confused, frustrated, panicked and angry...and still trying to trade. Close personal guidance on a daily basis is very important to work past the hurdles and keep on track thru the learning curve. They should call it the "learning zig zag" because it's not a line that always points up. A good mentor can't prevent the "lows" but they can help insure that they are "higher lows".

Becomming a successful trader goes way beyond what trading system you use. Some of you will get that and some won't. It's why one trader consistently loses and another consistently wins TRADING THE SAME SYSTEM! Knowing the difference - what's that knowledge worth? What's it worth to have a professional trader/trainer at your beck and call for the rest of his life and not charge you for the sessions? Just something for you guys to think about when you consider what's actually involved when someone charges a fee.

Look, there are a lot of learning options out there for you. If you don't want to learn by making all the mistakes yourself and you're willing to pay someone competent to help get you where where you want to go, for gosh sakes don't let price be your measuring stick. That's my point here. There are courses and systems out there charging $7500 to over $20,000 that aren't worth what's at the bottom of my birdcage. Cheap and freebie stuff can be beneficial but it's never a complete "package".

To be successful at this difficult game, you've got to know what it's going to take. And there will always be a cost...be it in knowledge, training and mentorship...or one heck of a long time investment going it alone. Ask Big Mike sometime if his own success was the result of hard work, study and practice or simply the result of hitting on a winning trading system alone. I should write a series here about "The Mindset of the Misguided Trader". Sure make for interesting reading.

Didn't mean to go off on a rant,

Roger

Hi Roger, thanks for taking the time to reply. Yes, you are very right. There are a million get-rich-quick schemes out there and because of this, any legitimate provider may be automatically denounced as a snake oil salesman in public forums. (50 pages of Google Searches revealed a few comments along those lines for your sevices). The problem is that live results are hard to come by so no one can trust anybody. Metatrader definitely has ninja beat in the area of results publishing. Sites like Mt4stats show the good and the bad. No way around it. If someone blows an account, they have to create another account.

I already understand divergences quite well and enjoy them when they show up. What interests me the most is the computer program (your indicators) which helps the brain for trade management. And how you use a whopping 2 contracts to get the results that you do.

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