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

  #277 (permalink)

Market Wizard
Boca Raton
 
Trading Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 2,417 since Sep 2010
Thanks: 2,347 given, 3,577 received


DionysusToast View Post
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....

I think you must compare other things beyond time/hours.

It could be the case where prop shops have a designed a program in place run by experienced traders
addressing things that a trader might take months or years to discover on his/her own.

Most self-directed traders are ON THEIR OWN with a screen making mistakes on their OWN CAPITAL.
This makes the game completely different for the most of us.

Lastly, not all prop shops are a recipe of success, because I know quite a few in the industry who run them.
It took some of them quite a a few years to build a solid team.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.

Last edited by mattz; May 26th, 2012 at 11:21 AM.
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