[sillykiddo]

Originally Posted by rknapp0205 »

GCGecko,
I appreciate your commentary. An associate of mine pointed me to felton trading, but he has very deep pockets. I, like you, do not. I have taken many courses in trading (stocks, options, not futures). My results have been horrible in the past, but I haven't given up. I believe you have to discover your weakness, then work on it, always have a plan. Money mgmt is key. I have gone from being a consistent loser to making minimal gains. Painful lessons, but we all go through it.
I have tried a new technique. Only works with low commissions (under $5 per round trip).
Just look for relative tops (off 1 min) and bottoms and try to grab just 1/2 pt (e-mini just $25). You should hit almost 100%, but risk reward has to be at least 1:1, maybe 1:2.
Do it enough times per day and you can make a pretty good living. My theory that it will almost always move a 1/2 pt in your direction when it reaches a consolidation point.
I use the MACD histogram with the charts, and keep in simple.

hi can u explain your method a little bit?
thanks

[rknapp0205]

Hi Sillykiddo
Yes, happy to explain as best I can. I use the 1 minute chart with volume, and the MACD histogram. I wait till at least 10AM (or till the markets settle), then start watching the action of the chart. Let's say the markets start down (dow, nasdaq, S&P). I look to go short. I am then looking for relative resistance. As the chart (I use OHLC bars) ascends, and the MACD histogram climbs (like scaling a mountain), I wait for it to top out (2-3 bars going to highest pt, 3rd a little lower). I look at the chart of ES - it has, at the same time, reached a high. Usually it has bounced a couple times off a top and opened the next bar slightly lower. I look to place a limit order at or just below the top of that 3rd bar. Set a target of 1/2 point (25), and a stop just above the top of the first two bars.
If it picks up the order, it will usually hit a 1/2 pt quickly before it retraces to take out your stop.
Remember, it's all in the percentage winners vs losers. I am now paying (with my current broker) $21 per round trip - this strategy won't work to give you any meaningful income.
Hope that was clear - if you have any ideas or suggestions of your own, please share.
THanks
Bob

[ichthus]

Hello,

Could you please do let me know if someone is still using Trendline Trader.
Need some details about it.
Thank you.

[gandalf33]

My 2 cents on the original question about Felton Trading.

Traders International - somebody here says Roger Felton was a former moderator there. Googling Traders International reveals a rather LARGE amount of scam warnings. Could be wannabe traders who didn't make it and blame everyone else, but I'd much more believe it's pure snake oil. They are charging $7000 per member.

To me, a former employee going and creating a company on his own, doing the same things, means one thing only - he saw how easy is to make a sheetload of money while not knowing how to trade, just putting in some swings, some EMAs and talking about it all day long. He saw how easy this is and became greedy because he didn't want to see all the money go into the TI's head's pockets. So he created his own firm doing just the same, asking about the same amount of money (around $6500 I believe). This is not unusual for employees of ANY company - doesn't have to be trading related.

To me, because of the reasons stated, Felton sounds like a heck of a snake oil and thus I'd rather stay away from it.

Somebody mentioned here - there's no shortcuts, you've got to spend time with the charts (a LOT OF TIME). While there's so much more behind this one sentence, that by just reading it it won't help anyone, I believe it's true.

[MightyMouse]

Originally Posted by gcgecko »

I sat in his real time trading room for a few days and was impressed with his trading. His system I can't say was that great or maybe I did not completely understand it. But, he would call out trades in real time that were generally very good. The problem is he seemed to be calling out trades based on his experience as a trader and not based 100% on his rules. So he does have skill as a trader. He would call out a trade and the market would often do what he said it would do, so I was impressed with his trading skill. I took the TI course with Roger 5 or 6 years ago when he was a teacher for TI. I left TI very quickly because even as a newbie I could see it was BS. They always had a little nuance as to why this did not work. TI is crap, they would have to show me 10 days of real time trading, making real time calls before I would believe it has become something of value. To bad for me, it cost me lots of money for nothing. Felton left TI and started his own gig and I just learned about this in the past 6 months and that is when I sat in his room on his one week free trial. I did not sign up for his course because it is expensive and I don't have the money at this time. Five years ago I might have paid it, but I am no longer a newbie and I also know about TL now. Way back when I did not know about these forums where you could ask people about their advice and it has cost me money. I am in no way associated with Felton, I am just a unsuccessful trader who has tried various methods over the past 6 years in the quest of becoming a consistent $100 per day profit trader. If you PM me I can tell you other methods I have tried unsuccessfully. Everyone always says look at the charts. Well I would love to find a real time trading room with voice and charts where the trader calls out trades in real time based on the chart and walks you through the logic of what the chart is telling you at that time and why you are going long or short. I understand not every trade will work, it would just be a great educational experience. I would not be in the room to piggy back tdes or fish. But, I would be there to learn how to fish. I teach tennis and most tennis players are hackers(bad players) because they never paid an instructor to teach them the basics of how to hit the ball. All good tennis players took lessons from a teaching pro. There is not one professional tennis player on the tour who is self taught. They all took tennis lessons from a pro as a kid. I am not sure why trading does not have any legitimate educational sites taught by seasoned pro's. My tennis student's watch me hit the tennis ball and right away they can see that I am a very good player and know what I am talking about. Not sure if this helps, still searching! Best of luck and if you end up taking a course come back and tell us the truth about it. We can eliminate the fraud people by exposing them.

Progress in sports is measurable. You can break down the elements of play and develop each piece to perfection. If you are willing to put the time into it, you can achieve expert level. The average for reaching "expert level" is 10 years. Trading is not completely different, but it is different.

Not all great tennis players are good coaches and not all great coaches were good tennis players. Great coaches know how to get you to achieve your potential. They don't necessarily have to be able to play the game well themselves. The same is true in anything you do. Your coach should be a person you trust who can get inside of you and help you achieve the goals you want to achieve.

Not to say that there aren't hucksters out there. There probably are. But I wouldn't judge someone simply by if he made money while you were there for a free trial. No one can help you turn the market into an ATM. Trading doesn't work that way.

[mbhsi]

I took his trial to his trading room. What was very intriguing to me was his goal of making $1000 trading two contracts. From the little I have been in the room, he appears to hit that target, which I find pretty extraordinary compared to other rooms I have visited or briefly joined.

Without taking his course, I did not understand the trade signals he was following but left pretty impressed that he and his partner moderator could get the kind of profits that they did. Felton is easy to listen to and pretty entertaining with his Texas mannerisms and colloquialism.

Felton appears to have developed a winning system, at least from the little I have observed.