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


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

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  #391 (permalink)
Market Wizard
Fletcher NC
 
Experience: Intermediate
Platform: nijia trader
Broker: A.M.P. I.Q. ....C.Q.G.
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  #392 (permalink)
Chicago, IL
 
Experience: Intermediate
Platform: NinjaTrader, Bookmap
Trading: RTY
 
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Posts: 38 since Nov 2011
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Hi all...I've been meaning to do this for a while, so with the renewed discussion on Felton's room, I thought now was a good time to do it!
I started a post on here...oh going on 3 years ago now...I meant it to be an impartial way to show my experience from joining Felton to being a profitable trader. Unfortunately, that didn't happen. And I had the time, at that point in my life, to really "dig in"...I watched back trainings, learned the software, sat in on live trading every day and watched the live trainings every day. I had conversations directly with Roger and Clint. I learned the system so quickly, that when I started helping others in the room, they made me an official helper for quite some time. I think I'm qualified to say I know both Roger and Clint pretty well, along with the system and the room. Although caveat that at this point, I haven't logged in for well over a year. Here is the rest of my story as I typed it up maybe 6 months ago:

When I began in the room, Roger (Felton) was scalping using line break charts. I’d watch him consistently win 80%+ of his trades. That is real-time trading, but NOT live trading. I’ve had my discussions with him on why he won’t trade live on screen and I understand his reasons for it. I don’t think that invalidates what he does per se.

I loved having someplace to go every day…I was quite new with futures, about 6 months, when I joined the Felton room. I loved the daily trainings. I started connecting with other traders. It helps not to be so isolated when you’re trying to make this your livelihood. It’s also great that you can get on the phone with Roger or Clint at any time, at no charge.

At some point in, maybe 6 months or so, I realized I still didn’t have a set of trading RULES. I talked to Roger about this. It left me very disappointed. He thinks “rules” are money management. To me, they are quite different. Rules for entry and exit are not money management. He doesn’t seem to understand or acknowledge the difference. Clint, for sure, understands that. So I called Clint. He talked me through how to put together a basic set of rules and start testing them. Clint is the gem of the organization.

My biggest complaint is that Roger made constant changes to how he trades in the room….there is always a new pet indicator that he created (or found and tweaked and called it his own). Then he discovered what he calls “renko supreme” bars…which are really just his version of the unirenkos you can find on futures.io (formerly BMT) for free. These bars were quite a radical departure from what he had been doing and some days he seemed to be hitting consistent (scalp) winners. So I decided to try it. Luckily I was still in sim only at that point, as I had some of the worst losing days ever. Nothing seemed to win with those bars, at least not for me. I began asking others in the room how they were doing. I couldn’t find anyone who was profitable with these things except people who were using other / more traditional methods in tandem…e.g. time-based bars, traditional technical analysis, etc. Even Clint and Roger’s daily profit postings seemed to be quite poor compared to their line break days.

I spent quite some time on the phone with Roger, explaining this and suggesting that perhaps he could let Clint continue to show the line breaks that had worked so well for many, and he could show the renko supremes and therefore, folks could have a choice. He seemed to like the idea, but nothing came of it. That’s when I lost interest and focused on my own path, which took me back to basics.

So while this is probably too long a story, here is a summary of my experience and viewpoints on Felton Trading:

Pros:
• It gives you a place to go every day and connect with others, see real-time trading
• Daily training
• Access to Roger and/or Clint
• Clint is also available for some technical support issues
• “Dr Mike” gives a chat on psychology of trading every Tuesday (just enough to try to sell you his services)
• If you listen to Clint’s trainings, you’ll totally get the basics of journaling, creating and testing rules, etc.
• Other students who do well are asked to create videos of how they trade and those are available to you, some of which are quite useful

Cons:
• Roger is constantly changing up his system. If you keep changing with him, you will never be profitable. (Possible remedy: when you find something you like, stick with it and don’t keep following his new gadgets…but if you’re in the room, that’s difficult to do)
• You will not learn much in the way of basic technical analysis here and I do believe it is important to long term consistent profitability
• The system is a memory hog on your machine; and watch out for updates as it can sometimes be buggy and crash your system and/or break your templates and you have to re-create them.

Summary:
Do you “need” this room? No. Do you “need” any trading room? No. As one of my personal heroes, Linda Raschke says…there are no shortcuts…do the work. Learn the basics, sit with your charts, start seeing patterns and setups for yourself. Learn to master your emotions. READ…a LOT. That having been said, if you want someplace to go every day and can find your own discipline to keep to the basics and create your own set of rules, the FT system may work for you. It’s not an out-of-the-box panacea for doing the work, however. And I don’t think anything is. But for what the Felton system costs, I think there are better options out there.

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  #393 (permalink)
Philadelphia
 
Experience: Intermediate
Platform: SierraCharts, Ninja
Broker: Optimus (Rithmic)
Trading: Futures (ES, TF) Options
 
Posts: 10 since Jun 2011
Thanks: 19 given, 6 received


I remember Jill from the room when I was in there a couple yrs back or so. Felton was one of my first trading experiences. I was curious if Jill ever found success with them, but sadly no. Nor did I. I agree with everything she said about the room. It's a nice environment with helpful, positive people. But that's not going to make anyone a profitable trader.

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  #394 (permalink)
Market Wizard
Fletcher NC
 
Experience: Intermediate
Platform: nijia trader
Broker: A.M.P. I.Q. ....C.Q.G.
Trading: ym es
 
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Posts: 639 since Mar 2012
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they should stick to sell computers

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  #395 (permalink)
virginia
 
Experience: Intermediate
Platform: ninja
Trading: NQ
 
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cloudy deleted the link but you can google 'tradingschools reviews felton-trading' and read it yourself, the review touches on some good points on how to evaluate a trading room. It's worth a quick read.

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  #396 (permalink)
Market Wizard
Fletcher NC
 
Experience: Intermediate
Platform: nijia trader
Broker: A.M.P. I.Q. ....C.Q.G.
Trading: ym es
 
forgiven's Avatar
 
Posts: 639 since Mar 2012
Thanks: 141 given, 375 received


Big Mike View Post
Except when some vendors list his "track record" like a spreadsheet, with all the money you could have made trading his system, and none of those trades were taken live - or in some cases, some vendors are known for not being clear about what they call as trades in the room, and the winners show up in the "track record" report on the website but losers are no where to be found.

@monpere, would you stop trading your system live, and instead only trade it sim and run a room selling those signals?

Mike

show a veto making it look as easy as falling of a log..then a huge profit curve with no draw down going back years// over 300,000 trading 2 contracts in two years or so... no a single draw down...it is the grail// come on in

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  #397 (permalink)
Philadelphia, Pa
 
Experience: Advanced
Platform: Sierra Charts
Broker: Amp/CQG
Trading: CL, ES
 
longboat's Avatar
 
Posts: 144 since Jun 2009
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Got an email from these guys today. Had a trial years ago. Now the contact info shows a phone number and address in Chile. Weird, but I bet it's still a sham

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  #398 (permalink)
Chicago, IL
 
Experience: Intermediate
Platform: NinjaTrader, Bookmap
Trading: RTY
 
Jillzy's Avatar
 
Posts: 38 since Nov 2011
Thanks: 25 given, 67 received


longboat View Post
Got an email from these guys today. Had a trial years ago. Now the contact info shows a phone number and address in Chile. Weird, but I bet it's still a sham

That is very strange. I heard maybe a year ago that they closed down...although I was a PAID member, no one ever contacted me (and my email address has not changed) so I don't know why I never got a note. I don't think they were a scam, but I don't think the old guy that ran it was a very good trader or at least not a replicatable trader.

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  #399 (permalink)
desert CA
 
Experience: Intermediate
Platform: NT7, TOS, CQG-trader
Broker: AMP, DT, TDA
Trading: CL,NQ,YM
 
Posts: 2,130 since Jul 2011
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I stumbled on a review of Felton , amusingly by Dean Handley two years ago. So Felton's still doing his fuzzy obfuscating malarky after being gone from here. Worth some entertainment if bored :


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  #400 (permalink)
Kansas City Mo.
 
Experience: Intermediate
Platform: Tradestation
Broker: tradestation
Trading: es
 
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Posts: 47 since Dec 2009
Thanks: 2 given, 47 received


Knew Rodger and have had many conversations with him when he was with Afshin in Texas. He quickly learned when he was on his own to push as many methodologies as possible to be able to find a few that were profitable and ignore the rest. The sales staff at Traders International was taught how to show winners and patterns as profitable after the fact and shining recaps that would make sales easier.

Rodger keeps a few different sim accounts running so he"ll always be able to show profits that are totally unrealistic to any real time trader. His likeability keeps those in his programs off the fact that he"s never trading real money but just a great salesman pushing new system after new system. some people always want to believe they've found the holy grail. how many times does Rodger pop up within a few $$ of his daily goal on his sim accounts without ever showing any trades?

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