Earlier this year I tried out the 3 Rockwell Trading Strategies and later took out their "bargain" Day Trading Workshop. This cost $300 against the Full Home Study package costs of $2000.
It's true what the say about getting what you pay for. For my knock down price, I got knock down versions that provided incomplete and old instructional DVDs. It was very annoying and gave me the feeling of being ripped off.
With the order I got a free 14 days instruction in the "Live Trading Room" on line. Unfortunately, the expert wasn't actually trading - more drawing lines on the live charts to indicate where he would have entered if he was trading. Very amateurish I thought, especially when the real fee is $100 per month for it. Anyway, I followed his indications and found myself losing more than winning. No wonder he did not trade for real.
This is where I discovered that my instructional DVDs were incomplete with vital trading information missing. He was talking of and making extra checks that were not given in those DVDs.
A particular strategy (seahawk) calls for a profit target of 2 ticks and a stop loss of 8 ticks on the mini S&P. A BAD deal on the face of it but it is described as having an 80+% success rate. Alas, Not for me or the "expert" in many of my sessions and the overall result was that I lost more money. The return I had was more like 50/50 - rather short of the 80% anticipated. The other 2 strategies I paid for were similar but involved a larger Profit Target at a higher risk!! They too performed well below par. In short, I lost all confidence in any of their Strategies.
Recently RWT have been pushing very hard their training systems which is indicative of a failure in their trading strategies. Too many auto trading systems are effecting the daily electronic markets today and the old systems no longer work.
Like these at Rockwell, they are redundant and there is obviously more profit in selling the training packages that used to work in the good old days that now actually lose money, when trading with them. And for teaching there is no risk or margins to carry either.
Rockwell Trading is definitely NOT recommended for all of these reasons. Save your cash and do as many others before you, seek out FREE information and totally ignore these flashy presentations to entice you to join in, at a price, of course.
Remember, you don't always get what you pay for and here is a prime example of that.
I lost and could not reclaim as they have a limit of just 30 days which is nowhere near long enough an evaluation period. Buyer beware.
Don't waste your money at Rockwell Trading, they suck!!
I spent many months with the Rockwell Live Trading room as a newbie to trading but as I learnt the business I could see through their con. Its pure blah blah blah, its definately not live either, its not even on the playstation simulator. They can't even put a little bit of their own money where their mouths are, instead of that they lead their little flock of sheep to slaughter week after week. Their trading sucks, their speeches about the trading mind game are the only thing that are true, but thats not difficult as any idiot can preach money management and dont get greedy etc etc. Save your money and steer well clear of them. Just ask yourself the simple question about any of these jerks running these "we'll make you a great trader" websites, IF THEY ARE SO DAMN GOOD WHY ARE THEY SCRAPING AROUND TRYING TO MAKE MONEY OFF A TRAINING WEBSITE, THEY WOULD BE MULTI_MILLIONAIRES
In short: Been with them for twelve months. I haven't generated one, no not one single US dollar in profits through their strategies! Looking back I've been a horse's ass! (sorry for the use of language).
I shadowtraded them for 6 weeks and the losses added up to more than $850,- per contract (excl. brokerage). But during that same period they communicated nothing but profits. The difference between realized and communicated added up to more than $3250!
When posting these results in their "live" trading support room (I haven't seen one, no not one live trade in 12 months) on November 1st 2010 I was banned as quick as possible for them. Not quick enough because some of my fellow traders saw the post and with that the link to the full story about the scam. I've had more than a 1000 emails so far on the address mentioned in the article. All with positive reactions.