Phil Newton

[TheBramble]

Oh ffs.

No, OK Phil isn’t a nice guy. No, I’ve never met him. Yes, he does seem to make a charge for some of his services. What a scheming, tawdy piece of sh!t he is then. He should be banned.

 

[TheBramble]

are you sure about what you are saying,have you seem his claims

No. I’ve never looked at his claims. I was basing my assessment on the various interactions I’ve had with him over the years both on and off the boards. He appears intelligent, friendly, focused and keen to share his take on the markets.

If you’re into the willy measuring thing then perhaps you should challenge him to substantiate whatever claims he’s making if it’s important to you.

As for charging a fee for whatever services he charges a fee for, that’s up to him and anyone who chooses to avail themselves of that service.

 

[Lord Flasheart]

No. I’ve never looked at his claims. I was basing my assessment on the various interactions I’ve had with him over the years both on and off the boards. He appears intelligent, friendly, focused and keen to share his take on the markets.

If you’re into the willy measuring thing then perhaps you should challenge him to substantiate whatever claims he’s making if it’s important to you.

As for charging a fee for whatever services he charges a fee for, that’s up to him and anyone who chooses to avail themselves of that service.

I was with you all the way,he seemed ok to me and for what he charged I thought he had a lot to offer as did many,but then he seemed to turn and start making ridiculous claims. A look on his site will show what I mean

 

[the hare]

Even if he was just punting at £10 a pip with a bucketshop, he's on over £300K a year. If he was just punting £100 a pip, he's pulling in over 3 million a year. But like I say, he must be trading serious size now, so he'll be making way more than that.

I'm quite critical of Phil, he should jolly well know better by now. Quoting PnL in pips is the actions of a bounder

I think he trades multiple pairs, so assuming 10 pairs (IIRC he probably trades more), the 31,000 pips reduces to a more modest 3000 pips per pair, thats still way more than I make, but possibly achievable if you are prepared to suffer excessive drawdowns.

Traditionally he's always tended to trade multiple lots, with multiple exits, which is a vendors wet dream should they wish to play games double and triple counting pip gains.

The point of course is that if your diversifed across 10 pairs each position is only one tenth of the size. His £10 a pip becomes £1 a pip, and the 300K a year becomes 30K a year

I'm not defending him, he should be hung drawn and quartered for the 31,000 pips claim. Whilst I've got my pedants head on I should of course point out that its entirely possible to make 31,000 pips, and yet still make a loss (and conversely you could lose 31,000 pips and make a shed load of money !)

bloody vendors

 

[TheBramble]

I was with you all the way,he seemed ok to me and for what he charged I thought he had a lot to offer as did many,but then he seemed to turn and start making ridiculous claims. A look on his site will show what I mean

Fair enough Flashy. I haven't looked at his site and don't intend to as I'm not in the market for anything like that. But as even if he’s gone native and is now the scummiest scumbag this side of the Potomac, I still consider him a nice guy as far as his dealings with me are concerned.

 

[The Leopard]

I'm quite critical of Phil, he should jolly well know better by now. Quoting PnL in pips is the actions of a bounder

I think he trades multiple pairs, so assuming 10 pairs (IIRC he probably trades more), the 31,000 pips reduces to a more modest 3000 pips per pair, thats still way more than I make, but possibly achievable if you are prepared to suffer excessive drawdowns.

Traditionally he's always tended to trade multiple lots, with multiple exits, which is a vendors wet dream should they wish to play games double and triple counting pip gains.

The point of course is that if your diversifed across 10 pairs each position is only one tenth of the size. His £10 a pip becomes £1 a pip, and the 300K a year becomes 30K a year

I'm not defending him, he should be hung drawn and quartered for the 31,000 pips claim. Whilst I've got my pedants head on I should of course point out that its entirely possible to make 31,000 pips, and yet still make a loss (and conversely you could lose 31,000 pips and make a shed load of money !)

bloody vendors

All good points. As you say, reporting pip counts is - well, to my mind it's enough to dispel reasonable doubt.

As to be honest are many such devices. From memory, my best month this year has been from a strike rate of 50%, my worst from a strike rate approaching 70%.

The reason is the obvious one. In all seriousness, I need to win less frequently, as I'll make significantly more money.

On a side note, I have been inspired by a post you made some time ago to conduct an experiment. Instead of making records and having a rolling, continually up to date view of results, for the coming month I'm not going to compile any records until the month is finished. In order to make it worthwhile and remove other variables, I'll be doing it with my usual risk and everything else will be the same.

Obviously I'll have an idea of how it's going, but I won't know that I'm X% away from hitting 5% or 10% or whatever, or that another loss will put me 5% under etc.

I expect the results will be interesting and allow me to fully grasp something that I already know but have trouble properly implementing.

 

[tony1979]

.

 

[barryb]

.

Lol, let's see if he sinks or floats too.

 

[darktone]

My experience with NB back in the day. He always struck me as nice people, keen to help and talk through / test ideas etc. Ive never been a client and cant say i view the markets in the same way as back then but! As I said. In my experience. Hes nice people.

 

[Lord Flasheart]

My experience with NB back in the day. He always struck me as nice people, keen to help and talk through / test ideas etc. Ive never been a client and cant say i view the markets in the same way as back then but! As I said. In my experience. Hes nice people.

id be nice to you if you paid to stay in my room. As ive stated i had no problem with him except it now appears he is just like the others,perhaps he learnt that nice guys get sod all

 

[TheBramble]

,perhaps he learnt that nice guys get sod all

Well, I'm a nice guy and I...oh right, see what you mean.

 

[darktone]

id be nice to you if you paid to stay in my room. As ive stated i had no problem with him except it now appears he is just like the others,perhaps he learnt that nice guys get sod all

Fair doos Flash . Just to be clear, the only conversations ive had with Phil were through t2w / messenger and the odd phone call. It was way back in the day (3-4 years in for me when i knew it all! ).
As far as vendors go, i dont see the problem. Its all fair game to me, you have to watch your own back. Weather youre participating or seeking a mentor. I mean, a trading forum, where traders go to discuss methods of getting their hands eachothers money. There has to be mad in there somewhere.

 

[tony1979]

id be nice to you if you paid to stay in my room. As ive stated i had no problem with him except it now appears he is just like the others,perhaps he learnt that nice guys get sod all

If wannabe traders were told of the true reality of trading, and how one makes profits in this "mental" game, the honest vendor in question would always lose out to the dishonest vendor who promises rags to riches in 6 months. To me, it seems like someone who can trade and also teach, has two options; he either stays true to his values, principles and explains the harsh realities of attempting to trade, while in the process losing out on the low hanging fruit forum members. Or, he seduces his prospective bait into believing they'll be rich in a few months if you buy his course and subscribe to his "FX Robo-Killer" signal service, which compromises his values, but makes him more money from fees. The latter will always get more business short term, but naturally the turnover is high.

 

[tony1979]

In Phil's case, I think it's a mix of the two; he can trade, but he's trying to appeal to the public with some very suspect pip counting methods, however I believe he's always recorded them the same (triple counting for 3 scale outs from 1 original position). In my opinion he doesn't need to do this, as his methodologies "look" sound enough. But, he's obviously losing out to the vendors who promise the world, so, if you can't beat them.....

 

[the hare]

In Phil's case, I think it's a mix of the two; he can trade, but he's trying to appeal to the public with some very suspect pip counting methods, however I believe he's always recorded them the same (triple counting for 3 scale outs from 1 original position)...

Under those circumstances, 31,000 pips over multiple pairs seams perfectly reasonable.

I'm still puzzled as to why anyone would waste their time dealing with members of the public, and particularly the type susceptible enough to fall for those kind of tricks.

Its a pity that Phil doesnt suppliment those performance figures with a little more information because underneath the hype, there's possibly something worthwhile.

 

[NVP]

I dont know Phil and am not here to defend or support his trading or systems - but I am responding to an interesting point made earlier here

Great Traders can never explain or transfer every nuance of what they do.....Its impossible and is the same in any profession, sport or vocation

hiring Jackie Stewart to teach you how to drive will make you better (over time) but it wont make you Jackie Stewart

and sure theres always easy money is selling systems if you already have a good reputation..........but that reputation wont last long in this industry

N

 

[The Leopard]

In Phil's case, I think it's a mix of the two; he can trade, but he's trying to appeal to the public with some very suspect pip counting methods, however I believe he's always recorded them the same (triple counting for 3 scale outs from 1 original position). In my opinion he doesn't need to do this, as his methodologies "look" sound enough. But, he's obviously losing out to the vendors who promise the world, so, if you can't beat them.....

This really raises more questions than it answers, or at least it ought to raise them.

Just to clarify, when you say "triple counting" do you mean this for example:

Say he opens a position with a 30 pip stop and 30 pip target.

If it moves 10 pips in his favour, he closes a third. 10 pips banked.

It moves another 10 pips, he closes another third. 20 pips, 30 pips in total banked.

It hits his target, he closes completely for 30 pips. Total pips 60.

If however it goes against him, his stop loss is hit for a total loss of 30 pips.

Is that what you mean?

 

[barjon]

This really raises more questions than it answers, or at least it ought to raise them.

Just to clarify, when you say "triple counting" do you mean this for example:

Say he opens a position with a 30 pip stop and 30 pip target.

If it moves 10 pips in his favour, he closes a third. 10 pips banked.

It moves another 10 pips, he closes another third. 20 pips, 30 pips in total banked.

It hits his target, he closes completely for 30 pips. Total pips 60.

If however it goes against him, his stop loss is hit for a total loss of 30 pips.

Is that what you mean?

Lep

Phil has a good reputation on here and I've always found him an honest guy. Not sure how his site has developed or how he counts his pips, but he makes no secret of the end result. He says:

"I trade in multiples of 3 lots, I will look to remove 2/3rds at 50% of the size of the stop loss size. For example, If I have a 30 pip stop loss 50% of the stop loss size is 15 pips, 2/3rds of the position will be removed at +15. The last 1/3rd of the trade remains with its original stop loss level. If this last 1/3rd gets stopped out then I will have overall a break even trade.

2 x +15 = 30 pips
1 x -30 = -30 pips
Profit on overall position = 0 pips"

jon

 

[The Leopard]

Lep

Phil has a good reputation on here and I've always found him an honest guy. Not sure how his site has developed or how he counts his pips, but he makes no secret of the end result. He says:

"I trade in multiples of 3 lots, I will look to remove 2/3rds at 50% of the size of the stop loss size. For example, If I have a 30 pip stop loss 50% of the stop loss size is 15 pips, 2/3rds of the position will be removed at +15. The last 1/3rd of the trade remains with its original stop loss level. If this last 1/3rd gets stopped out then I will have overall a break even trade.

2 x +15 = 30 pips
1 x -30 = -30 pips
Profit on overall position = 0 pips"

jon

Thanks Jon.

So effectively each contract is counted separately?

In the example above, a full win (assuming the trade was managed in this way) would be 3 contracts for 30 pips each, giving a total win of 90 pips. A full loss (again, assuming such a thing was taken) would be 3 contracts for 30 pips each, giving a total loss of 90 pips.

Is that the reporting method being used here?

 

[barjon]

Thanks Jon.

So effectively each contract is counted separately?

In the example above, a full win (assuming the trade was managed in this way) would be 3 contracts for 30 pips each, giving a total win of 90 pips. A full loss (again, assuming such a thing was taken) would be 3 contracts for 30 pips each, giving a total loss of 90 pips.

Is that the reporting method being used here?

Yes, but whether that's the way he counts the pips in his "performance" section I've no idea.