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

  #275 (permalink)

 Vendor: www.jigsawtrading.com 
Bangkok
 
Trading Experience: Intermediate
Platform: MultiCharts.NET, S5, Ninj
Broker/Data: AMP, S5, IB
Favorite Futures: ES
 
Jigsaw Trading's Avatar
 
Posts: 2,929 since Nov 2010
Thanks: 806 given, 10,131 received


djkiwi View Post
Hi, I've had a separate PC running 24 hours a day 7 days a week testing retail indicators including CCI, MACD, Stochastics, moving averages, RSI, Fibs etc. This involves millions of iterations of backtesting/forward testing and advanced financial analysis in excel. I concluded that none of them will provide consistent profitability over the long term.

If you take a look @ what they teach day traders in prop shops, you'll certainly have an answer as to how effective these things are from their perspective.

What all this stuff offers is absolution from making a trading decision. If you have 3 things that 'line up' - then the actual decision is not in your hands. This is the allure. No-one wants to use discretion.

Funnily enough - the quest to find a 'magic setup' that will work forever based on some 'secret' indicator or combination of well know indicators is a much longer journey than hunkering down and just learning how to trade with discretion.

I have a friend who recently joined a prop shop. He is in training, they are paying him to train and will fund him when he shows he has 'got it'.

The amount of time that they expect a trainee to go from zero to trading 1-2 lots of their money?

12 weeks

Of course, teh interweb gurus generally claim it takes 10,000 hours....

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