Understanding the Felton Trading System

[Roger Felton 10]

Roger, please continue posting your lessons.

 

You can't let criticism get to you. If you do, then regardless of the actual merits of your system, you signal to others that you're not confident in the what you're doing. It looks like you're seeking approval and validation from others. Stop that. Be your own kind of awesome instead.

 

Thanks, wadams, for the support. Trust me, confidence isn't something I'm short of. I get approval and validation every day but this ego doesn't need it. Criticism is a part of life and everyone could probably use some.

 

But there's a big difference between healthy constructive criticism and character assassination...a difference between expressing personal opinion and making personal threats.

 

I came to TL to share and help in any way I could. I envisioned providing the group with some very useful indicators and bar types and then perhaps conducting some intensive training webinars for the group to get the maximum benefit. Traders Lab was to be the exclusive location where non-student traders could go to obtain these indicators and training. Membership would logically increase...possibly dramatically. The best forums are the ones that are growing.

 

Right now, there are about 3 or 4 TL members who have expressed encouragement and I really do appreciate that. I really like Mark and the rest of the group who work hard to make TL the best. I have some options that came up over the holidays but, with or without my contributions, Traders Laboratory will continue to do well.

[Kenny1924 10]

There are so many trading systems out there, that every one who sells it is making MORE money selling trading systems & training than making money using their own systems! It is the 'drink your own cool aid' concept that generally does not exist when the vendor themselves 'sell' under the auspicious of 'training or free consulting'. Not knocking anyone, but it has become the "university model" (have 2 kids in college right now)!!!!!

 

Truly, if a system is good, you will find the programmer in Hawaii doing 10 min of auto-trading and enjoying the rest of the day. I have encountered some systems that are closed and under Auto-Trading-Model.

 

Not saying Felton or EminiAcademy or Navitrader or ProTrader or Intentional Trader or Trading123 or TradeSafe or DTI or Market Tamer or Brain Trading or any of the 10 others that I have been evaluating are better than others - After attending multiple webinars of all of these folks, I feel they are made of the same branch of the tree as of Mar to Aug-2013 (my due diligence phase).

 

What is common amongst them is what "we" traders need to learn?

> Discipline, Fixed Process, Journaling, S & R, Simplicity, Starting Small, Sim First-Trial Next-Production Last and finally believing in Myself.

 

Each of these Webinars talk about $4997 to $12965 if totaled up individually, but today (and only for 48 hours) it is $1999 to $2477 or something along those lines. Some differ from this model from the names listed above.

 

All Universities make money......All Professors make money. Students might or might not get a job coming out of a 4 year college. Right? Well, in our trading business, this is an annuity stream for these guys with a large upfront fee for training, justifying their own expenses, team-members and pre-sales-pitches. Nothing wrong with it since it is their business model, but we have to be a 'skeptic', 'do our due diligence' and finally jump in small with a 100% COMMITTMENT. If one just does the multiplication of 1000 traders in a Live Trading Room at $150 per month, it is enough for them to sit back and enjoy! Remember all of these 1000 folks would have had to pay $1500 per person upfront! I could be wrong, since I am new!

 

For me, the most important elements in a company are 1) Unlimited use of the Trading Room, 2) Free Lifetime Updates of Software, 3) Unlimited Access to Training, and a 4) Good cycle of SW Upgrades with New Features. Most IMPORTANT> All of this for ONE upfront fee, and no nickel/dime after that (on a monthly basis). Most of the names above DO NOT MAKE this cut!!!!!

 

If I were you, I would see if they offer the above, and if not, keep searching......

 

Hope some of you will find the above comments useful (I've spent 30 hours a week for 4 months), since I am just a typical newbie coming in with a lot of hope, but walking the same path 99% of new traders do (as I now understand it). Lets see if I am a statistic of the 92% of Traders that fail, or am I part of the 8%!!!!!! One just never knows on the eventual outcome. Love the mystery.

 

PS: I can afford to say all of the above since I will only be a part time trader at best for the next 5 years and have a steady stream of income from a corporate job.

 

Best Wishes,

 

Kenny