Live Trading Room - with a difference

[Blithe]

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.

 

[JillyB]

I'm having a peek at the trading room as from tomorrow. Will let you know what I think of it.

 

[JillyB]

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.

 

[shadowninja]

Sounds good but 6.30am... I've only just gone to bed.

 

[JillyB]

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.

 

[chrislee]

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

 

[omni]

what's the website?

 

[chrislee]

Hi Omni, PM sent

Regards Chris

 

[2124506]

Hi Omni, PM sent

Regards Chris

Can I get the link too?
Thanks,
Andrew

 

[Newtron Bomb]

Hi Folks,

I run the live trading room... not sure if I can post the link directly but if you check out my profile the linkn to the website is there or you can skype - newtron-bomb - me if you would like to know more about me my site and the live trading

Kind regards

Phil

 

[James Sargent]

My experience of Phil's trading

Phil Newton (Newtron Bomb) is a dedicated full time FX & futures trader and educator. Although his primary trading and teaching focus is the forex market, his live room offerings include dazzling afternoon scalping sessions on the DOW when conditions merit.
As a trader, in my opinion Phil is a virtuoso performer! Whether scalping, day or swing trading Phil shows consummate skill day after day - comparable with any practitioner at the top of their profession. His six main trading strategies – applicable to charts across the board, whether short, medium or long term - Forex, Stock Market or Commodities - are carefully thought through and presented with the utmost clarity. These are reflected in his comprehensive training and educational website intended for traders wishing to learn how to develop their own FX trading skills. To find out what’s on offer go to Phil’s recently revamped site – Trading Strategies - Welcome Guest! and click on Membership Benefits. I can assure readers that what you see is not only what you get, but there is also much, much more. However, you need to experience Phil in action – live – fully to appreciate his holistic approach to trading and teaching.
The core and inspirational powerhouse of Phil’s work is his daily LIVE TRADING ROOM. As you enter the room (preferably around 6.00 am!) you truly become an active member of a forex education and trading community, each one able to learn at his/her own speed and level of experience. The days begin with reviews of the major currency pairs, short-listing the ones with highest probability trading opportunities. You can choose whether to participate in the general discussion or communicate with Phil privately.
As a teacher, Phil guides by example; at the same time he gives us the ‘Why’ as well as the ‘How’ and ‘When’ in trading. He has a rare ability to convey his thinking and feeling in speech - a kind of stream of consciousness - thereby helping us to understand the processes within trading. This is invaluable! He is methodical and consistent. He maintains a constant overview with respect to past support and resistance levels while dealing with the immediate trading situation. We learn through reasoning as well as repetition. Phil encourages us to think for ourselves, to become self reliant, and to learn from our mistakes in a supportive atmosphere, where necessary rebuilding confidence. Of late, with the agreement of room members Phil gives homework exercises for the weekend, relevant to the past week’s trading. This certainly concentrates the mind and consolidates the learning!
As a person, Phil is patient and kind. He is generous, has a sense of humour and is unremittingly passionate about his own personal development and that of others through trading. Other characteristics that impress are his openness, honesty and the transparency of his trading activity. (All his results are available and members are witnesses to their veracity.)
If you are in the fortunate position of being able to explore the Trading Strategies website, and have the necessary time and circumstance to sample Phil Newton’s Live Trading Room I’m sure you will not be disappointed. Your trading skills will be immeasurably enhanced. Moreover you will discover that in addition to being a great trader and excellent teacher, Phil is also a really nice guy!
HJS UK November 2007

 

[craigaudio]

Worth a looksee

I have just competed a month in Phil Newton’s forex trading room and thought id give some non biased feedback on the service.

Phil is very attentive to the groups needs and takes time to explain the rationale behind his trading decisions and gives extra help those who are struggling to understand the concepts or require questions or clarification on any issues. The other members in the room are a good bunch and will also help you out if you have any questions.

To supplement the live room they also have videos and slideshows to help bring you up to speed quickly with the trading setups that the group look for on a day to day basis. Within a week I totally understood the setups and began to actively search for trades myself.

The main two forex setups are extremely simple and revolve around breakouts from the Asian overnight session as well as fib retracements. More importantly, there is a rigid money management approach that over time that I believe will make you money. Phil also trades the YM in the afternoon although I usually only stuck around until midday when most of the forex action was over.

Personally I have not continued the service because my bread and butter focus is on US futures with a different strategy and I started looking at forex as an additional revenue stream. However I found trading forex in the morning before the US opened was taking up more time than I wanted to invest so I have knocked it on the head. Trade to live not live to trade is my motto. Im not a morning person and the sessions start around 6.30am so you need to be motivated to be there and not miss the action that is mostly in the early morning.

The room is certainly worth investigating if you are seriously considering trading forex on a fulltime or part time basis. At about £60 for the first month, even if you don’t continue as a subscriber, its worth paying out as you will learn some good tactics that you can use to implement in your trading.

Happy Trading,
Craig

 

[Donkers]

Blithe and JillyB

Are you still using the site or live trading room? How did the sessions go following your thoughts posted earlier? Any final conclusions?

Thanks.

 

[Black Swan]

bump...

 

[shan777]

I am a current member of Phil's live room. And to be honest.... its bloody brilliant.

Good points-
* his system makes sense, using price action and a range of different entry and trade managment techniques that seem to flow with how the market moves.
*get to see his charts etc
*help with any questions ( Always has time to help)
* Never spoon feeds members, makes us think for ourselves, and develop our skills ( we even get homework tasks )
* get to hear Phil's thoughts and views on markets, and just being able to lean how he processes things in his mind is very useful
* He doesn't sugar coat results or drawdowns. When he and members have bad few weeks, he says that.
* Great bunch of people in the room, and its like having multiple eyes on charts watching for any triggers
* And the best part, is I am making a good profit, and many people trade in the room full time.

Bad Points :
* Its hard work, and study is needed to grasp strategies.............. but if anyone thinks making it in this industry would be easy, then they're believing a lie

All in all, I have tried a fair few different strategies/ rooms etc in this crazy business.... but I won't be moving from Phil's room. Very happy.

Hope this helps , Shan

 

[rise]

Hi, i have been a member in Phil Newtons live trading room for over a year and a half.

During this time i have learned a to become a profitable full time trader......thats where the rubber really hits the road, i have been in many trading rooms but Phils is unique in that he trades realtime.....no harry hindsight trades....and he lets you in on his thought processes and all important strategy development/adaptation in an ever changing market...result = a profitable trading business is yours if you are prepared to put in the hard work.

 

[steve8]

For those of you thinking of joining Phil's trading room..........DO IT!

You trade Phil's trades - you hear his rational for entering - or not, and you make pips...hundreds of them.

It's hard work, it's fun - there are lots of good hearted laughs with your fellow traders in the room,- he rants a bit! and it's worth every penny.

Phil is 101% dedicated to making YOU successful

 

[ramine]

Yes , Phil's trade room is an excellent place to become a disciplined trader with great strategies and above all Phil's dedication to teach you the trading plans he use to place orders online and visible by all.
I am enjoyinh it.
Ramine

 

[edu]

Old timers @ Phil's room will confirm that his parrot is the real trader, he merely translates the parrot's calls.

I've been following Phil's trading for a few years now and what I can say is that he's a fantastic trader and person.
It's hard to find a top trader like him so open about his trading, and when you enter his room you'll see exactly how he prepares for the day, plans his trades, trigger and manage them.
Great place to learn how to read price action, to develop a trading plan and to understand the importance of discinpline when trading.

 

[rjb_01]

I would unreservedly recommend Phil Newton's Trading Strategies. | A Forex Education Community and his Live Trading Room to anyone who is seriously considering trading forex for profit. The room is full of like minded individuals all guided by Phil's expert commentary. I particularly like the fact that with Phil there is nowhere to hide. You see directly how he analyses forex markets in real time and how he applies the main strategies all of which are covered on the website in as much detail as you could possibly want. As well as the setup and active trade management mechanics Phil also helps less experienced traders master the mental issues associated with the trading. It's not easy and there's a lot of work involved but he's top drawer. Open a demo account, subscribe to the service (which has limited space so you may have to wait) and get trading.