Yes, the winners were indeed very exciting because when I was filled, the position quickly hit my profit target for a gain of 3, 4 or 5 ticks depending on the setup used. And having a lot of winners is a good thing but posting a loss when I won 73% of the time is not acceptable as far as I am concerned. I can lose $1,600 in Vegas and have a hell of a lot more excitement, free drinks, and maybe even a lap dance!
Looking back at some of Rockwell's older youtube broadcasts, I have found that they have changed their setups several different times. Their older Seahawk setup had both short and long entries and I think it was based on an eight tick range bar. That tells me that whatever they were using back then didn't work so they had to change it. While it is a good thing that they are willing to change when something doesn't work, trying to sell something that doesn't give a real return is not a good thing. It gets old FAST.
The past few sessions, the moderators have decided NOT to use the Seahawk Strategy much. Again they are trying to push the Fibonacci setup but this has resulted in very very very few trades, making the room pretty boring.
It's weird because during the few hours that the room was open, I used Rockwell's Simple Strategy to place trades in GC, CL, and ZC and I was profitable on all of those trades. But for some reason, these setups were not mentioned by any of the moderators. So I really have to wonder what are they trying to do? They draw the setups on the charts and then usually "talk" themselves out of placing the trade.
What attracted me to Rockwell initially was their Simple Strategy and their Fib Strategy. I don't like scalping with such a negative risk to reward. Maybe they are concerned with the room becoming "boring" as they need to keep it moving to attract new members. Anyway, I just did the room for one month and did not renew.
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I too was initially attracted to Rockwell Trading after watching their tutorials on how to use the Simple Strategy using range bars. But after joining their trading room, I found out that they hardly use it.
For the past week or so, I decided to use the Simple Strategy to place trades in CL, GC, YM, and the grains. It really is a "trend is your friend" type of strategy. I had some winners and some losers but my results were way more stable than when I was using the Seahawk Scalping Strategy. I jumped in when something was trending, used a 30 tick profit target with a 20 tick stop. So even if I ended the day with a 50% success rate, I was able to come out profitable. And when I took a loss, I would not need 5+ winning trades just to break even.
I have the Rockwell Trading room on in the background while I am taking these Simple Trades but for whatever reason, the moderators hardly ever get in on these trades instead they are busy drawing all over the charts with the Fibonacci setups.
Guys, the only people getting wealthy trading the rockwell trading system is rockwell trading. At best it's a gimmick, at worst it's a scam. The odds of mid to long term profitability employing any of their strategies are close to zero. I've tested them out in detail and several derivations with my own systems. If you have a $10k account using these strategies the odds are you will trade it to zero in short order.
I mean look at one strategy the "seahawk strategy". I live up here in Seattle and the Seahawks never win so why would I trade that!
All the tools and information you need to trade profitably are here at this site. This is the best trading resource in the world.
Last edited by djkiwi; October 16th, 2012 at 12:32 AM.
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I was in their live trade room about a year and a half ago. They were trading their scalping strategy....I can't remember the name. Basically they had an 8 tick range chart of the ES and they would place a short at where a new bar would open at the highs and a long at where a new bar would open at the lows of the current bar. They would risk 8 ticks to make 2. They used 16 tick range for 6E and 4 tick range for ZB. Their target was always 25% of their risk and the risk was the same size as the range of the bars. With that said, he had a couple of winners in the ES and 1 in ZB and a bunch of losers. He ended the day somewhere around $500 in loss. At that point in time, I unsubscribed from their mailing list and only watched their infinity webinars for fun, to see them lose money while trading live. I remember now, the name of the strategy was the "Seahawk Strategy".
Like a dummy when I FIRST started trading I paid for a subscription after seeing one of their webinars. What people have said is correct. It was a 2 tick profit target with a 5-9 tick loss (4/8 range bar + 1 or 2 ticks)
The whole time he kept saying this isn't a sales pitch but was selling. First 10 people to sign up get this...like a dope I did it and didn't make the cut of 10. Think around 100-500 people in that room. He was even selling his platform showing why it works better for the method and you should do it.
Out of PURE luck they made money that day and that's why I joined. After quickly realizing it was a scam I canceled my membership.
I still receive mass spam from them constantly selling things.
P.S. they trade 1 lot only
Last edited by kingk; October 23rd, 2012 at 11:06 AM.
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