Rockwell Trading

I am looking for a comprehensive DVD course in Day Trading and I have come across Rockwell Trading.

Does any have any experience of the Home Study Course?

There was a similar post to this (on this forum) back in 2007 but nothing more recently.

The course seems to be genuine and the few reviews I have found seem to be positive - it is not the usual hard sell guff.

Many thanks in advance.

Mark

Hello Mark,

Well from what little research I have done into Rockwell I have been a bit disturbed by what I have found here, but to be honest I don't know anyone who has utilized this service. In my experience in Forex and elsewhere the best idea when considering an investment (in education or otherwise) the best thing you can do is seek out FREE resources that will teach you just as well (in some cases better) and if you still feel it is necessary to shell out the dough you'll at least be in a better place to decide whether or not you should do so.

Also, don't forget that these forums exist for more than banter and idle speculation...there are a lot of people who can help you and while you should always take things with a grain (sometimes a BOULDER) of salt there are great rewards for those who are willing to learn!

Golden rule when you are starting trading:

NEVER PAY FOR ANYTHING

All the basics are available for free online or from just speaking to people in the industry. Its only when you have a full grasp of the basics and want to learn something new that you may need to spend some money. But that will only be a few quid on some good trading books.

Never ever pay for any crappy courses.

Rockwell had good videos and a book to download - interesting stuff.
Never pay for crappy courses - pay for good ones instead.
I paid £2000 - and that is cheap compared to the money I make now because of it. What a pleasure.

What did you pay £2k for exactly?

Mark1979 said:

What did you pay £2k for exactly?

Click to expand...

http://www.marketmovertrader.net/?page_id=19

A lot of people seem to prefer trading the E-mini S&P – particularly in the first two hours of the market opening. Unfortunately I am at work until the afternoon session of trading – in your experience, is this a more difficult time to trade? Are there still good opportunities?

M

I love the emini, but I trade economic accouncements (around 1:30 or 3:00pm GMT) only.
I'm learning to trade the first 2 hours of market open, and getting to a point where I'll start implementing what I'm learning and trading live.

I believe the morning is earier - apparently, but that depends on your strategy I guess.

Are you in London area? If so, feel free to connect and maybe join the social trading group I'm putting together. Like a T2W forum, but in person!

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.

I've not paid or bought anything from Rockwell, but I've attended a few live trading webinars done by Markus from Rockwell. He was trading the the S&P eminis for the first hour after the market open. I've subsequently used one of their methods (which were taught for free) for myself and I've found it to be surprisingly successful so far, albeit only in simulation so far, and only using it for 2 months. I have been trying out the seahawk, and my success rate has been more like 90%. But that's my only experience with them - maybe I just got lucky with it so far. It is a small sample size, so I'll see how it goes as I continue to experiment with it, and maybe post my findings here.

I'm certainly not considering looking into purchasing anything from them, becasue my trading's going quite well without me looking for something else.

Hearing about your bad experience is interesting. Is your trading going well so far, other than your experience with the Rockwell strategies? Hope you can make your cash back through other ways. Guess you will just have to chalk it up to a lesson learnt.

Thanks very much Tony. I managed to work out that the Rockwell Trading strategies weren't up to much. I do still like the idea of range bar trading however, however I cannot use range bars on my platfrom.

Just over a month into beginning to learn how to trade I feel I have come on a great deal with all the free stuff that is available. There are some great free videos on Youtube - Phil Newton and a guy called Hector Deville (can't remember his youtube username off the top of my head) to name a couple. I have also just come across a guy called Nial Fuller who has bags of good free videos on his site.

MMT I must say when I first started to look at RWT, I too did have success and that prompted me to lay out my cash. When it started to go upside down, I thought I was doing something wrong but the daily live trade sessions told me I was not. The system was failing - it became inconsistent and erratic. Besides, they advise daily profit targets of $50 per contract to start with and suggest stop live trading if you lose say $100. Initially, the $50 was made in minutes but then the market changed and $100 was lost in the same time, using the same strategy. Obtusely they advise trading on to retrieve the lost cash if you lost it on the first trade of the day as the odds were with you that you could end up break even. Unfortunately, that did not work.
At present, I have ceased all day trades and concentrate on my Futures Options Spreads. Slower moving but more rewarding and less susceptible to the vagaries of the scalpers.

I am experimenting in a demo mode with a system very loosely based on the seahawk but using shorter range bars (ie 6 ticks instead of 8.) I am finding a faster turn around time per bar with this but it is too early to say if it is going to work for me. I am moving with the times so as to speak!

Mark, the Range Bars are good no doubt but over the past weeks they have been so slow to complete hence my switch. Trade Navigator has them but not too many others. Thanks for the links I will check them out.

I have been trading with Rockwell trading strategies for over 3 months now, very successfully . I believe all traders need to develop their own trading plans and what works for their own trading styles and only then will one be able to implement ANY strategy successfully. IMHO

Most DVD based trading courses have been pirated and are available on the internet for free for 'evaluation purposes'....

Just a thought.

Message to Mark1979.

Hi Mark,

Welcome to the wonderful world of (day) trading! I agree with Tony. I've been with Rockwell for 12 months and I couldn't understand why I didn't made ONE single dollar through their strategies. So from September 20th to November 1st 2010 I shadowtraded every SINGLE trade! Nothing, absolutely nothing but losses!

Tammy's post about being very succesfull over the last three months sounds to me as complete crap. Unless she is working with Rockwell (Mandy Ditmire are you Tammy??) and tries to haul in a new flock of sheep to the Rockwell slaughterhouse.

Anyways Mark you can read the complete story over here: http://www.targetwns.nl/index.php?w...ll&id=1288362795&archive=&start_from=&ucat=11

Look for free stuff on the internet and NEVER, NEVER pay for stuff that is brought to you by big flashy adverts or lines like "now for only, blablabla"!

Good luck and contact me any time!

Re: Rockwell Trading scam

Hi Mark,

I'm new on the forum and since I'm kind of a dumbass (look at how I walked right into the rockwell trading scam trap) I was wondering if you got to read the article I posted. I didn't post it as a reply, but just as a comment in between all the other comments. Don't know if you get a message as soon as there is a new post.

Anyways, I'll get the hang of it :cheesy:!

Mark1979 said:

I am looking for a comprehensive DVD course in Day Trading and I have come across Rockwell Trading.

Does any have any experience of the Home Study Course?

There was a similar post to this (on this forum) back in 2007 but nothing more recently.

The course seems to be genuine and the few reviews I have found seem to be positive - it is not the usual hard sell guff.

Many thanks in advance.

Mark

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Re: Boiler Room Scams

Stirf said:

I've been a victim myself of a scam, the Rockwell Trading Scam, directed by Markus Heitkoetter and his team. Looking back I've realy been a horse's ass! But hey since I've been there I might as well keep others from going there. Here is my complete story: http://www.targetwns.nl/index.php?w...ll&id=1288362795&archive=&start_from=&ucat=11

My email is in there as well so you can contact me any time. Don't become a victim of scams like the Rockwell Trading Scam like I did!!

Click to expand...

I read your link, its pretty standard practice in this business. There is a thread here called Live Trader Global where they basically did the same thing. It seems none of these crooks can trade so they just rip people off and post fake results to trick more people into joining.

Re: Boiler Room Scams

Thanks for taking the time to read my story PB. I agree with you saying that it's standard practice. I also think that a lot of brokers earn their right of existance because of scams like these. Scams like the Rockwell Trading Scam get people to start trading and that creates revenue for the brokers. You making a profit or a loss is of no importance to them, as long as you pay them.

But, hey I'm over it and trust that my story will keep a number of people away from Rockwell Trading!

Rockwell is definitely not a scam but it is no holy grail either. They offer reasonably priced trading courses and offer some interesting trading strategies. Again , I repeat, this is not a holy grail and if you copy their every trade you will probably lose money because you obviously have not invested any time into creating your own trading plan with strategies and rules that work for you and your trading style. Just copying what others do will not make you a successful trader, I'm a rookie and I know this. I have adapted their techniques with my own research and consider myself successful for a newb. I have no affiliation with them at all, use them or don't use them, I dont care but whatever you do , take the time to develop your own trading plan, never copy someone elses, it will never work out - IMHO .

Hi Tammy, thanks for sharing your humble opinion. Appreciate you taking the time and effort concerning the Rockwell Trading Scam.

You mentioned in one of your earlier posts that you were with rwt for three months and were very succesfull. From your last post I reackon that you did invest time to create your own strategy and that is what brings you the mentioned success.

What I find amazing is that you did all this in the period of three months.
- Studied the $497,- home study course
- Watched the rwt moderaters trade (not live but just marking entry and exit points on a chart)
- Find out that they weren't successful
- Invested time to come up with a better way to trade
- Implement your own tweaks (maybe run some tests for a couple of weeks)
- Become a successful trader

Now you wouldn't call yourself a successful trader after two weeks of good results would you? So this means you did all of the above in less than 3 months! Now that is brilliant!! But here comes the realy amazing part... You did all this while you are still a rookie:clap:!

Nevertheless I believe you when you are saying that you have no connection with RWT. But making nothing but losses on the long run and communicating profits is bad. But selling stuff based on false results is a fraud. All the stuff that is in their courses is to be found for free on the net (e.g. money management, explanations on different technical indicators, mistakes made by daytraders, etc. etc.) The only thing that is not found for free on the internet is a winning strategy. But their strategies aren't profitable either. You said it yourself, you gave it your own twist. So I don't see why anyone should pay for their courses or their strategies!

I trust this makes sense to you and others. Keep up the good work Tammy! Have a great weekend, hope the weather is ok in Vancouver!