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