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