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Anyone know of this service- newfuturestrading.com
You are spot on. One of the things that Henry (NFT) is good at is teaching the importance of being emotionally fit for trading. I think one other big advantage of trainers and programs is that you know that you are not alone. I do not believe one system is better than another, but for most traders including myself, learning the basics sometimes has to come from a coach.
Rofl newfuturestrading.com is HILARIOUS watch some of the videos... THEY DO BUSINESS WITH THE MARKET! BRO! domains by proxy rofl.. Anytime you see a website that looks like it was designed by an internet marketer in around 20 minutes flat... with videos containing pictures of bank vaults and $500,000 signs run run run far away...
This is the first post I've seen about them in that vein, but now that it's out, I too found their website to be extremely corny and was put off by it.
There are a few members of this forum trading based on their system though, and apparently they are successful. It's quite possible that NFT are excellent traders and coaches, who paid some other internet marketer to put together the site "in around 20 minutes". We can't all be experts at everything.
YouTube - New Futures Trading
If you look at legitimate proven trader websites like tradingtribe.com by Ed Seykota a proven master you'll notice a common theme. Trading is not a quick get rich profession. Trading is hard as hell to be good at. Trading requires intense work and study.
Read the Market Wizards books and the theme prevails thoughout those too.
And here you have a website claiming that its easy to turn your pc into an ATM... I think anyone who has at least 20 years of life can figure out the game here. If not then they still have plenty of time to remake the money they will lose
One of the things that pisses me off about forums in general dedicated to trading is this belief that with discipline and emotional control almost any method can be profitable. But this spits in the face of the billions of dollars a year the giant firms spend on developing methods and traders.
Two disclaimers: I have never bought a trading system, and likely never will. And, I am not currently an experienced or profitable trader. I admit to such, and humbly will receive whatever ass-kicking from the market comes my way to learn from it. I've had some great sim days, and some bad sim days. No one should ever listen to my trading advice.
With that said, from what I can tell, you yourself are not a profitable or experienced trader either, yet you poop on others and speak like you've been at this for a long time. You could be completely right, I just think you set yourself up for catastrophe when you speak with such conviction about everyone else and their problems, when you yourself have not yet "arrived." You blast people for looking on forums for trading advice, yet you read books for the same reason, don't you? I completely agree with everything you've said regarding trading being intense work and study, not an overnight thing, etc., but the thing is, how would you know, have you been down the long road yourself and do you have a proven track record?
Me, I'm just trying to figure everything out. I mean no ill will whatsoever by the post. For the record, I did try the NFT trial for a week and learned some great things, but the whole thing is not for me personally. And yes, the web site is very non-professional and cheesy. Again, I wish you a good weekend and please take no offense from my well-meaning post.
Well, I don't read or post that much in here, but I have noticed a lot of posting on this thread as well as Horst's thread. I did look at their website just out of curiosity and the thing that would concern me is there is no physical address for them at all or at least I couldn't find one. Most website companies have a physical address in the contact us link or tab, not the case here. I use to own two very profitable companies with websites and I am very knowledgeable on website marketing, security policies and scam protection. Not having a physical address on this website is a HUGH red flag for me. If you wanted to exercise your money back guarantee and faced resistance and had to contact the AG's office it would be very difficult to track them down in a legal battle. If I have overlooked the address then I apologize. There is a lot of controversy regarding Horst and NFT and I have always maintained the position that trading is not an easy business and attempting to learn someone else's methodology is not in your best interest, especially in spending $10,000. This is just me and my point of view, good luck and good trading.
Not really speaking with convictions about alot just airing my personal opinion is all. I should have stated IMO. The question about how would I know if trading was a hard thing or not... well I guess I just formed an inference based on the relatively high # of failures in trading and also from what has been said by some of the best traders in history. I have not read about one where they said it was easy but rather that it usually took years. So no I don't know personally but alot of people talk about things they don't know from personal experience(for example any paper written by a student in college, graduate school, etc) but their opinion can be right assuming they consulted numerous sources on the subject. For example I may not personally know how long it takes to become an engineer but from looking at how much schooling is required and talking to full time engineers I can be fairly safe in my prediction.
And IMO my last statement simply refers to a common theme I see in trading forums. But in reality discipline, "trading psychology" won't turn a negative expectancy into a positive one. Need no experience to state this.
But except in the case of a black box, completely hands off, system where psychology is not a factor at all, any trading system's expectancy is based on discretionary decision-making by the trader, which is very much related to psychology. Thus, except for a black box system, which is not really trading at all, expectancy is most definitely related to "trading psychology." This is why even a very mechanical system can have varying levels of success depending on who trades it. At least, the logic makes sense to me that way. Would you disagree?
I would agree with this and so would Ed Seykota who says something to the effect that systems don't need to be changed but a trader needs to find a system for him. Psychology definitely plays a role in determing a system's success when its not fully automated and even when it is blackbox *assuming the trader looks at his P&L every once in a while *
But I believe it only plays a role when someoen has determined their system has a positive expectancy exploiting some real edge.
I guess I'm referring more to the case where a trader comes up with a "system" and starts to trade it lets say the system is some combination of oscillators, MAs etc for entries and exits. The system might have shit expectancy but the trader is just told to stick with it and be disciplined. When in fact none of these things will do anything for him. Because the system itself is shit.
I see your point, though I would point out that while those tools and rules associated with them aren't for me (MA crossovers, oscillators, etc.), that you're pretty much lumping all indicators into a "these don't work" category. In my mind and heart, I believe no such system exists, particularly a black box, that will profit in the long run (say, longer than a few years), due to changing market conditions, which is why I have spent 90% of my time focusing on price and volume related trading. However, as you said, the trader can possibly take such a mechanical setup and tweak it to make it work for him.
