Live Trading Room - with a difference

This is a discussion on Live Trading Room - with a difference within the Educational Resources forums, part of the Commercial category; Hi All, Do you remember seeing posts from Newtron-Bomb (Phil Newton) on here from yesteryears? He is a well-respected trader ...

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Old Oct 31, 2007, 9:59pm   #1
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Live Trading Room - with a difference

Hi All,

Do you remember seeing posts from Newtron-Bomb (Phil Newton) on here from yesteryears? He is a well-respected trader who uses price-action to trade forex and a variety of other financial instruments. Phil also takes pleasure in coaching newer traders on trading, and currently operates his own site. I have personally found his help invaluable and irrespective of the level of a trader, he always has some great advice to offer. Personally I consider him my mentor, and have benefitted a lot from Phil's help over the years.

Three months ago Phil started a live chat room where he let us see all the trades he put on, made presentations and answered any questions people had about strats, Money management, psychology, or in short, all aspects of trading. The response from all quarters over these months has been phenomenal. While I have not personally attended any other trading rooms, others there think this is the best room they have been in and very different in the way that all trades are called live and trade management/learning occurs in real time. I would like to invite serious traders here looking to improve their trading to take a look at this service he is offering.

Cheers,
Blithe

PS: This is not a signals room, although the trades are called in real time and mostly entered on a limit. The primary focus is education.
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Last edited by Lightning McQueen; Nov 6, 2007 at 7:54am. Reason: removed URL
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Old Oct 31, 2007, 11:41pm   #2
 
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I'm having a peek at the trading room as from tomorrow. Will let you know what I think of it.
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Old Nov 6, 2007, 6:41pm   #3
 
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Thanks for undeleting the thread LM.

Blithe and I are currently members/test driving Phil Newtons live trading room and hopefully on this thread we will be able to discuss the good/bad points of Phils trading room and give our opinions on it.

We are not advertising it - nor do either of us work for Phil - we are just two members who have paid our money to test/experience a facility that is out there and want to report back to members so you can make your own minds up.

In the past I've spent money on joining various trading 'groups' only to be totally unimpressed by the lack of trading content/tuition etc. If someone had reported back on those particular sites, then I would probably have saved myself a lot of money

So this is what I'm trying to do.

The trading room isn't free - it's a paid monthly subscription and the numbers allowed in the room are strictly limited, so everyone is able to take part, comment and ask questions. The room is not just a chat room though, every member can see Phil's activre charts on screen and hear what he's discussing.

The room generally starts at around 6.30am - 6.45am in the morning by looking at the currency pairs for morning trade setups. Phil currently trades 17 currency pairs and goes through each of them in turn looking for potential setups. From these he will narrow it down to a number that look favourable before detailing entry and exit points. In other words you are literally trading with him.

It isn't quite the same as the old proverb though of "Give a man a fish and you feed him for a day...." because you learn the how and why of trade as well (or at least I'm starting to) and if you don't understand you can just ask. So I like to think that you are moving toward the second part of the proverb "...Teach a man to fish and you feed him for a lifetime"

Generally the mornings are taken up with trading and in the afternoons - so far - Phil has given a lesson/tuition on a particular set-up/question that was asked etc. The trading room generally finishes around 3.30 - 4pm, though you can stay in the room and discuss things with the other members should you so wish.

Blithe will probably have his own thoughts to add to this as well - and I will probably post again after a few more days in the trading room with my opinions on it, but so far it appears a good site with a trader who makes his living from trading and who is willing to stick his head above the parapet and call his trades as he takes them.

The above are just my personal thoughts/observations.
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Old Nov 6, 2007, 10:58pm   #4
 
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Sounds good but 6.30am... I've only just gone to bed.
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Old Nov 6, 2007, 11:28pm   #5
 
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Quote:
Originally Posted by shadowninja View Post
Sounds good but 6.30am... I've only just gone to bed.
LOL, yes I know - that's the only thing I'm finding difficult. I'm not a morning person at all and it's a wrench having to drag myself out of bed that early - especially now it's dark in the mornings - hope it's all going to be worth it though.
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Old Nov 13, 2007, 5:07pm   #6
 
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Like Blithe and Jill, I'm a subscriber to Phil's live trading room and have been since it started in August.

For the first time in my trading career i'm starting to see some consistancy in my results (and getting pips in the account) thanks to Phil.

All the trades are called out live in the room, together with reasons for the trade, stops, targets etc - none of this 'I just went long on cable ' (after it's moved up 50 pips) that you get in other trading rooms.

Phil's an excellent trading coach and mentor and i would recommend the live room to any one looking to make a success of this business.

Regards Chris
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Old Nov 13, 2007, 5:40pm   #7
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what's the website?
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Old Nov 13, 2007, 6:17pm   #8
 
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Hi Omni, PM sent

Regards Chris
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