Rockwell Trading

omti

Newbie
1 0
Mark1979, I signed up for Rockwell’s personal coaching program three years ago and still a satisfied customer today. I was new to Day Trading and my goal was to learn how to become successful. My coach didn’t tell me what trades to take; did I want him to – at first, yep. In hindsight I’m glad he didn’t. What he did do was:
- Explain useful trading principals based on their strategies
- Reviewed my trading logs, and answered any\all questions in a timely manner
- Helped me create trading strategies and a trading plan according to my strengths and weakness

So the net result was I created MY personal trading plan based on the core Rockwell strategies that are tailored to my trading personality. It’s not a standard boilerplate plan handed to me by Rockwell, but rather it evolved\developed through many, many hours of back testing to find what works for me.

What you’ve read is true in that a lot of what Rockwell sells is free on the internet, but there is also a lot of other free stuff on the internet as well. Despite what others say about Rockwell, they truly try (and do) help their students become better traders. Regardless of what approach you decide to take, you will get out of it what you put in. Don’t expect to sign up with Rockwell and boom – life is good. For me it took a lot of time and discipline. I’m glad I did it, but understandably Rockwell may not be for everyone.

That said I’m in the group with Dave489, tammyd459, MarketMoverTrader, mini-maniac,and alever which find Rockwell creditable and useful. Personally I wasn’t looking for someone to tell me what trades to take; I wanted to learn how to be profitable at day trading.

It comes down to perception. If someone thinks Rockwell is in business to sell a product\service for a profit – they’re probably correct; that’s kind of the idea. If one thinks Rockwell is in business to scam potential traders, they need to do a quick search on Google for +Rockwell Trading +Scam. Given how many years Rockwell has been in business, they’ll find there isn’t a lot that's negative, except for Frits’ effortless campaign starting a couple of months ago. So excluding this dissatisfied\disgruntled customer, in the court of public opinion, you’ll see Rockwell has a pretty good track record given how easy it is to post negative comments on several boards\sites such as this site.

With regards to Rockwell’s “Live Trading Support Room”, a couple of things: 1) It is a live room; log into the room and there is someone talking and it’s easy to ask questions – that’s live. 2) it’s wise to not over look the word “Support” in “Live Trading Support Room”. The room is geared towards supporting Rockwell students developing their own plan, not calling out trades. Rockwell does not advertise the room to those who are looking for someone to call out trades for others to take blindnessly. A true Rockwell trading plan calls for 4-5 trades a week, not a day.

About Frits hijacking this thread, he did offer good advice in another thread, on this site “…Develop your own strategy. Trade it for at least 3 to 9 months in the SIM and be honest about your results! No use in putting in a trade in your log that was a winner but one you didn’t do. Same goes for leaving out losses. You’ll be the first victim of a trade log that isn’t in line with reality. And you know what, you only got yourself to blame”.

Frits, did you really call out Dave489 for his intent of joining this forum and the thread he chooses to post in? This actually gave me a good chuckle given when you joined, and (as of this post) all but one of your posts (your introduction) has been negative towards Rockwell.

Before accusing me of being affiliated with Rockwell - I’m not. I’ve been a satisfied customer for the past three years. The reason I joined the forum and posted to this thread is to support Rockwell. I read Frit’s article on another site (for those that can’t find it, Frits can you post it again) and given I’m a Rockwell customer, his article this did catch my attention - is Rockwell really a scam? So I did a quick Google search (+”Rockwell Trading” +Scam), which is how is how I found this thread. As expected - about all I found is what appears to be one disgruntled customer spamming different sites\threads using different names..and might have benefited following his own advice “be honest about your results…you only got yourself to blame”

In conclusion: Given the years Rockwell has been in business, the thousands of customers they have, and only handful of complaints – this pretty much, in my opinion, should answer the question of if Rockwell is a scam.
 

MarketMoverTrader

Active member
171 8
Well, there you go. As I say, I've only come across Rockwell and thought it seemed interesting. I half-heartedly tried one of their strategies and it produced some success, but I didn't do it for long. Never actually paid them for anything. I don't have any reason to think they're a scam, and Markus Heikotter seems like a genuine guy. I still don't feel strongly about them either way, because I simply don't know enough about them. The trading world is very back-biting and often people try discredit trading education companies all over the net, probably for various reasons.

Glad you're a happy customer. Guess there's nothing wrong with paying for education, if you learn from people who have actually been successful and you make a good return on your investment.

As they say - what ever works for you. We're all after something that works, and a lot of people think that there's nothing out there that you can buy that works.
 

RALLYCAR

Junior member
10 0
keep up the good work Frits, you're going to have all sorts of people coming out of the woodwork. I rememeber when you were still looking through the rose tinted glasses and sticking by Rockwell. Anyone with half an ounce of common sense can see who the paid posters are here. Your goal should be to make sure that as many people as possible know the downside to doing any business with Rockwell, after all its only fair that the general public gets to hear both sides of the story, with you around Frits we can be sure that it will happen.

Oh and omti, don't insult our intelligence with your play on words / smoke and mirrors, if you use the words LIVE TRADING then by sheer definition the punters believe there will be live trades used to teach. I asked on many occasions whilst I was a subscriber to the room why they dont show live trades to help "teach" people, after all that is what trading is about.

If a true Rockwell trading plan calls for 4 to 5 trades a week then why doesn't Rockwell trade those 4 to 5 trades live and go into an in depth analisis of each of those trades? That would really be of instructional use. You and I, and anyone else with half a brain knows why they don't.
 

TonyQ

Junior member
34 0
Oh omti or is it a Dave489 clone or is it Rollie in disguise or both?
You sound like one of those so-last-century marketing testimonials that infected our Inboxes with boring regularity - viz. " I was a poor boy who owed a Billion dollars and one day I was shown a fantastic method of making money. It took me just 34 days to recoup my lost Billion Dollars and now I am richer than Bill Gates. I make an average $156,000 each day for working just 1 minute a week but I'll sell you the complete system for just $9.99 (inc post) if you order now..............etc."

And why go down the dodgy politicians route of manipulating the semantics?
"Live Trading Room" in English is a "Trading Room where Live trades are conducted." If you have created your own interpretation, then it contradicts those of many other companies that really do have an (English language) Live Trading Room with chat thrown in.

What strikes me as odd is that having gone your own way for 3 years, you remain a loyal customer? Why remain a paying customer? What are you now paying them for? You must have done the DVDs AND that infamous "Live" Trading Room and all the other expensive bolt-ons to their ever expanding training package, like DVDs of previous pay-to-view webinars, for instance. Surely there can't be anymore? And surely the purpose of RWT was to teach students how to trade using their own RWT strategies? If not, why sell them and promote them in the “Live” Trading Room.
Now, it seems, the original RWT mission has changed its principle to “Doing your own thing.” If that is now the main mission of RWT, then why pay them?
For those that are not aware of it, to do your own thing, you can get everything you need Free of Charge elsewhere on the Web or go buy a decent book on the subject (though check the reviews before you buy.) Always utilise the reviews of all products before you buy.

Finally, I normally charge for my advice but this time you can have it for free but you don’t get a DVD.

When you have customer complaints, deal with them quickly and amicably.
And when you get hit with bad reviews, ignore them, unless you can actually challenge them as untruths and back it up with evidence.
Otherwise, keep schtum and let the bad review die a death, before you do.

There you are, $700 worth of PR advice, for nothing.

(Dictionary, Promote = to encourage the sales, acceptance, etc., of (a product), esp. through advertising or other publicity.
Informal . to obtain (something) by cunning or trickery; wangle.)
 

Stirf

Active member
109 7
Re: Rockwell Trading Scam

This thread starts to get pathetic!! But special thanks to TonyQ and RALLYCAR who are able to upgrade the amusement value! Great posts guys! The few that promote rwt can scream and shout whatever they want:mad:, but that doesn't change this simple fact:

rockwell does NOT trade live in their daily "Live" trading support room! And we know why.

LINES IN A CHART DRAWERS!
Like someone else mentioned on elitetrader: they aren't traders, they are "lines in a chart" drawers:clap:. I'm not gonna get into discussion for the third time about their monthly or 2 weekly webinar. Who wants to know more about that should take a look at point 5 of my twelve month experience with rockwell. In there you will also find the link to a vdo of a LIVE recording of me uncovering the rockwell trading scam and getting banned from their NOT live trading support room!

AFRAID OF ADMITTING THAT THEY GOT SCAMMED
Besides this, I had more than 200 emails over the past few weeks. From those emails I can conclude this. People are unwilling to admit they were victim of a scam. In general they THINK their surrounding will look at them as being a dumb ass and that they should be ashamed of it. THIS is exactly the reason why scams like the rockwell trading scam hardly ever reach the greater public.

COME ONE, COME ALL!
In this case there was one dumb ass that wasn't ashamed of it and decided to tell others about how stupid he was by joining rwt! And as happens more often: come one, come all! Now you can read on several forums that more people have bad experiences with rwt. So it's not that weird that on most forums my story is the beginning of the end of the rockwell trading scam.

- NO LIVE TRADES(n)
- NO TRADE LOG (kept by a third party)(n)
- NO PROVE OF PROFITS (trading accounts)(n)
- IN FACT NO PROVE OF SUCCESS IN DAY TRADING AT ALL!!(n)(n)(n)(n)

THE GUY WHO STARTED THIS THREAD
I'll finish up with the words of the smart guy who started this thread in September 2010 MARK1979 (1979 from the Smashing Pumpkins?). His post on DEC 1st 2010 says it all and ends with these words:"Well done for blowing the whistle. I sincerely hope that no one else get burnt".

Shaka :cool:,

Frits
 
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AHAN20

Junior member
17 0
ok all, with sea hawk stagy is when you loose you loose, you loose 3 times your investment + commisions ok r u with me guys , so in order to make that back u need to trade 4 times + commisions who knows if your next trade is winner or lose ok u with me, and if loose then you do the math all the best guys, keep posting
 

RALLYCAR

Junior member
10 0
Hi AHAN20, the seahawk (G6E) would be +$18 per contract for each win, -$107 for each loser. That's more a game of luck because the price action can move against you at any moment sufficiently to stop you out. Paper trade it for a month and you'll soon get fed up of it.
 

RALLYCAR

Junior member
10 0
Just out of interest, does anyone know why the RWT Not Live Trading Support Room draws lines on charts to show their would of, could of , should of trades but only ever talk about trading 1 contract on any one of the multi markets they show the charts for. I'm sure that in money management and contract sizing etc it is a general rule that you should be making equal profits / losses on each market for the same strategy. I do that by looking at the market that will give you the biggest loss if stopped out on that strategy, and then base my trades on the other markets using a correct ammount of contracts to keep them all on a par. Seems to me RWT forgot their own teaching on that one, correct me if I am wrong and was missing something.
 

vanity

Newbie
5 0
hello guys
have you ever heard about franz shoar bulls eye traders? I am looking for good s&p500 emini.
Thanks
 

AHAN20

Junior member
17 0
Hi AHAN20, the seahawk (G6E) would be +$18 per contract for each win, -$107 for each loser. That's more a game of luck because the price action can move against you at any moment sufficiently to stop you out. Paper trade it for a month and you'll soon get fed up of it.
i agree, to be sucsessfull you have to have high win low risk strategy to bear the drawdowns scalping is a tuff game to play even for the pros,
 
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Mark1979

Junior member
48 0
I think the assumption behind the seahawk strategy is that when the market is 'ranging' it will not move more than 8 units (I can't remember what the scale was) in one direction before retracing. Therefore by buying at the extreme of this 8 unit range bar we are effectively buying/selling a retracement (at a very 'zoomed-in' level). This is plain silly because:

a) When a market is ranging, almost by definition the pattern of movement is irregular i.e. there is no predictable retracement and continuation patterns - so the 8 unit range is an arbitary
measurement to a 'dynamic' movement

b) A market can be rangebound over different scales i.e. betwen 100 and 200 units or just 10 and 20 units. Just because a market is not trending in terms defined by Rockwell a market is it can still be 'tending' towards a particular direction - for the market in a small range the strategy will work better, but for markets in a larger range the strategy will be pretty useless.

I can't remember too much about the boomerang strategy, but I know this works on much the same principle - buying/selling a retracement in a trend. There are far more precise and easy ways to doing this than looking at RSI/Bollinger bands/Range bars. The only indicators you need to assess the strength of a trend and a suitable entry point into the market is 2 moving averages - I think most professionals use the 6 or 8EMA and the 20 or 21EMA (or thereabouts - nothing is exact). They will combine this with some candlestick reading, SUPPORT AND RESISTANCE levels, (maybe including some Fibonacci confluence factors) to find selective high-probabilty bets.

Cheers,

Mark
 

Stirf

Active member
109 7
hello guys
have you ever heard about franz shoar bulls eye traders? I am looking for good s&p500 emini.
Thanks
Hi Vanity,

No I haven't heard of them, but smart of you to ask around first before actually hooking up with them. You might wanna start your own thread about it, like mark1979 did.

Good luck and be careful (y)!
 

RALLYCAR

Junior member
10 0
no cant say I have vanity, if they are punting a system / method / training etc then ask them to let you see their last 2 years of live account trading records. If they can't do that then dont waste your time or money with them.
 

Stirf

Active member
109 7
EXAMPLE SEAHAWK STRATEGY
I'm not sure if you're example of the G6E Seahawk rocksick uses is correct rallycar. I thought it was a $50 profit for risking a $200 loss. Applying that to the e-mini s&P (ES) it was a 2t profit for risking an 8t loss. Not going into depth about the fill or no fill issue on this strategy.

WINNING PERCENTAGES
Mr. Scam himself (Markus Heitkoetter) claims he has a 91% winning percentage. WHERE IS THE PROOF OF THAT? No proof coz he doesn't trade except for the 3 trades he does during a webinar once every month. He and his staff only draw lines in charts.

Anyways, while I was in the NOT live trading support room @ rockwell people where claiming only about a 60 to 70% winnning percentage:(. But let's for the sake of the example assume an 80% winning percentage (middle way with a slight advantage towards Mr. Scam).

SOME ACTUAL NUMBERS
You take 100 trades and the cost of a roundturn in the ES is $5,-
80 x 25 (2 ticks profit)= 2.000 MINUS (80 x 5 brokerage) 400 = 1600 nett profit.
20 x 100 (8 ticks loss) = MINUS 2.000 MINUS (20 x 5 brokerage) 100 = 2.100 net loss.

So over 100 trades you make 1600 MINUS 2100 = a $500 NETT LOSS(n)!

I'M DOING GREAT!
But as you just started trading you see a lot of winners and you think: wauw, this is great!! NOT!! This is a perfect strategy to keep you in the game whilst they empty your pockets. "Maybe you should buy another $500 course" or "why don't you enrol in our $4.000 personal coaching program":sneaky:.

WHO PROFITS FROM THIS STRATEGY?
Besides that with this strategy you need to take a lot of trades (to end up with a loss anyways, but ok). The ones that profit from that is the broker and AGAIN rockwell! It wouldn't surprise me if they get a percentage of the brokerage fee for every client they introduce to whatever broker we are talking about.

It's a great sales organisation!
 

krishen333

Newbie
6 0
Earlier this year I tried out the Rockwell 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 complete with vital trading information missing. He was saying and doing extra checks that were not given in the 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. 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 concluded I had no confidence in any of the Strategies.

Recently RWT have been pushing very hard their training systems which is indicative of a failure in their trading plans. Too many auto trading systems are effecting the daily electronic markets today and all the old systems not longer work.
Like these at Rockwell, they are redundant and there is obviously more profit in selling the training Packages that use to work in the good old days that actually lose money trading with them. And no risk to carry either.

Rockwell trading is definitely NOT recommended for all of these reasons. Save your cash and do as other here suggest and 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.

TonyQ
I appreciate that you share your experience with RWT, which wasn't very successful but to me it looks like you took shortcut to become a trader. I don't know how educated you are and I'm not judging you. I am RWT customer myself, I bought their Day Trading Started Package at cost of $7 which set me up for trading e-mini S&P500 and then decided to buy Day Trading Home Sudy Course for $497 which I did.
So far I am happy with my purchase. I have no doubt that I find most of the stuff they teach on them courses on the internet for free, but from their Home Study Course I learnt (and I am still learning) basic of technical analysis, about various indicators and I still have to go through money management, risk management, strategies and trading psychology. In this course everything is in order prepared for you so you can follow it and learn without hassle of searching on internet for different bits and pieces and then put them all together in whole picture. Maybe I sound like lazy git and maybe I am but most important is than not many of us got enough time (work, travel, children) to do all this stuff let alone learning the stuff.
All I am saying is that I don't think RWT is some kind of scam and if you choose wisely products they offering on their website you will be satisfied. Every course package is described as what you should expect from it.

Thanks

Seb
 
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