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At 01:40 PM 4/15/2008, Larry Brown wrote:
Does anyone have any experience
or opinions about Roger Felton's trading programs that they would be
willing to share? His website
(www.feltontrading.com)
suggests he is quite successful. (I have no affiliation...this is
an honest question.)
I recently coded TradeStation to find his signals to create a new
subscription-based product for him that he calls "OttO", so I
know quite a bit about this (and am obviously biased) but can give you a
quick summary...
I hesitated to write this since I did not want to seem to be advertising
his service. But the rules seem to say it is OK "providing the
services or products are offered by the member and not an
"outside" source" and since I wrote the code for part of
his product I assume that is close enough...
--
Roger is a trading coach who makes his living teaching people to
day-trade his method in an on-line trading room that is open each day
during market hours. He has been doing this for many years and seems to
have a lot of happy students. He also trades the method himself in the
room. He is usually trading one of the emini futures contracts but the
method should work on most anything.
His method is based upon pretty classic technical analysis such as
divergences between price and indicators. He has very specific rules on
what constitutes a valid signal, which is what made it possible to
program it in TradeStation. OttO now simply finds those signals. Not all
signals make money, obviously, and the user still needs to decide which
signals to take based upon other criteria and Roger teaches ways to do
this. He is a good instructor and talks pretty much full time all day,
pointing out the signals and discussing things that are happening in the
market.
He publishes a recap in the members section of his web site of all the
signals generated each day, qualified by a simple mechanical trend filter
for entries and simple stops/targets for exits. These recaps usually show
a profit each day. It appears from the students comments in the trading
room that many of them do better than the recap using their own exits and
filters on the entry signals.
He offers a free trial where you can sit in on his trading room for a
week to see if you might like to learn his method. Everybody in the room
can read the comments of everybody else so it is pretty easy to sense the
mood of the students.
I have met Roger and most of the members of his team and they are all
very nice people (living in south Texas) and seem to me to be running an
honest business with high integrity, which is why I agreed to work with
them to try and program OttO starting about a year ago.
So if you are looking for an automatic machine to simply turn on and make
money, this isn't it. But if you are looking to learn to trade using a
refined version of some classical technical analysis techniques, you
might find this useful. And as Ben says, "day-trading is a full time
job" no matter how you do it...
Bob Fulks
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