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

  #28 (permalink)

Victoria, TX
 
Trading Experience: Master
Platform: NinjaTrader
Broker/Data: Mirus Futrues, Zen-Fire, IQFeed, Kinetick
Favorite Futures: 6E, CL, GC
 
rogerf's Avatar
 
Posts: 132 since Apr 2010

Good posts here

Some interesting posts here...wish I'd seen it sooner. A couple of you guys posted some ideas that seem to be almost heresy in this industry. You just can't say that some educators are honest. You can't say that trading success requires work....LOL. Here are the facts as I understand them from most posts:
  • 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.
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.

Many traders expect the system to "do it all"...find, execute, manage and exit trades with great consistent profits while they sip their tea and watch TV. That's just not going to happen, folks. A great trading system is one that mechanically finds and identifies great entry points that offer excellent profit potential in the vast majority of the signals generated. If a trader uses such a system and consistently manages to lose, would the system be bad or would it likely be due to bad trade management?

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 don't mind anyone saying whatever they want about me. I just wish they weren't guessing when they do it. 95% of the people who talk about me are traders who have never met me and certainly never spent a minute of their time trying to learn from me. Of those who did know me, I have never seen a comment questioning my dedication, knowledge or honesty.

Consider this: If you promise to never give me a dime, then let's set up a time to talk trader to trader. If you aren't as successful as you'd like to be, let me work with you for a while...one-on-one...even evenings or weekends...just like I do for my group. Once we've worked together for a while, come back to this thread and just be honest. Tell it how you see it. If I'm even remotely like anyone else, say so. If I teach snake oil, rip me to pieces. If you learned nothing, speak up. Just speak the truth. Fair enough, guys?

This is in no way a solicitation of any product offered at Felton Trading. No money will ever be asked for nor accepted from anyone responding to this post.

Happy trading from your futures.io (formerly BMT) colleague,

Roger

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