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)

  #237 (permalink)

Chicago, IL
 
Trading Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: CL and YM
 
Posts: 31 since Nov 2011
Thanks: 19 given, 53 received

Hi Seeker,
I used to feel the same way. The first very pricey futures class I took (from an options education company!) taught you to manually figure out support and resistance, buy off support, sell off resistance, and let your winners run. That's great. Until it turns on you and you give it all back. Or you think it will turn and you cut your profit short. The market is so unpredictable these days that I'm a total convert to scalping. If I can find a 5 or 10 tick winner with a high degree of predictability (and I can...75 to 90%)...then why not? I will often put on 2, take off one at a predetermined 5 or 10 tick profit, depending on the market, and let the 2nd run for a while with a b/e stop. If you catch a bit of a trend, you can take many more ticks than 5 or 10. And Felton's indicators are really set up for finding these scalps with a high degree of predictability. I, personally, have even had a few 100% days. Some other rooms I have tried out are going for 5 or 10 ticks with a horrible degree of predictability and huge stops....that's a recipe for disaster.

One thing I should point out, however...is that you can use the FT system for trending as well....you don't HAVE to only scalp. I personally, find that I'd rather take a fairly sure scalp and if I want to trend, let another one run on the house's money.

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