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Phil is a top bloke.
I signed up to the free info on the website a couple of years ago, but was put off by the shorter timeframes.
Out of curiousity, I logged in recently and re-read the materials. Phil is trading a new strategy which fitted in with my working day so I read through.
As usual, the free materials on site were good but I needed to see them put into practice so signed up for the trading room.
Phil sets out a daily trading plan and goes through the charts with respect to the strategy.
If you have any questions, they are answered there and then, or in the trading room during the day, or by Skype.
On the daily run through, if you have a question, Phil might throw the question back to you so you can think the chart through using Phil's strategy - you are actually teaching yourself!!
There are also a good group of traders in the room who help each other.
To take advantage of the trading room, you need to be able to log in during London hours, but the site is worth a visit if you can't.
I cannot recommend this service enough - certainly turning my trading around. :-)
i had a little situation with Phil, since i live in Toronto, I contacted him and asked if the room will be any benefit to me....he said most likely NO....but he said that he will do a quick recap when the room starts the US session...i paid $280 for 3 month (i have to say that it's a good price) however i'm not in the room for the full day (london & US) session.....i joined the room for a week and didn't see the recap after london session, so i felt that i will not have any benefit being in the room so i contacted Phil asking for a refund for SOME money back....the answer was no. and he accused me that i was play him...so to me i stopped accessing the room and I considered the money LOST......to me if he was not just about money he should be honest and refund me some of my money back.......be careful with any deals you make with him.
I was in the trading room during August and September 2011 and have mixed views on the room, I traded a live account once fully mastering the set ups:
+ Phil is dedicated to the site and operates a well run live trading room. He explains the strategy and has a lot of background info on his site to help you get to grips with it.
- Unfortunately for me a mechanical strategy just wasn't a fit. The specific rules went against my training personality such as ignoring RED news events (except 3), ignoring round numbers and several other basics that I had learnt.
- Following the strategy to the letter, I got stopped out more times than I can remember with stop outs hitting you at full position size and the runners scaled out. So although your pip count may be good you need to look at your bank to decide whether it's profitable.
For me it wasn't profitable and so I left the room.
It wasn't a major outlay for the couple of months, so wasn't the end of the world and a useful experience of a live trading room, but just not a style of trading that suited or worked for me.
I've been a member of Phil's website and his live trading room for about 3 months now. I like to think of myself as an experienced trader, having made a decent living trading full-time for 5 of the last 8 years. I've known about Phil for quite a long time and decided that, when I switched to trading forex this year, he could be a good mentor.
As far as I'm concerned that was a great decision. My expectation of how many pips I can earn in a month has increased considerably.
No fireworks, just good solid trading methods, rules, trade discipline and money management.
Quite simply, it works. Having confidence in the method is great because even trading through bad periods, you don't get that emotional kick when you lose pips, because the confidence is there that you will make them up. And you do.
Phil's website has most of the material needed to trade his strategy. The odd minor detail may be missing or not quite up to date. Personally I don't care about that - if you don't take advantage of the live trading room you are missing out massively. Both in terms of education and the benefit of Phil's instincts, produced from his years of trading, when so far I've seen him predict big moves and be right about 9 times out of 10.
I went the traditional route many go through when learning to trade initially. Lots of different methods, paying gurus to teach me how to do it, buying books and courses. It took me 18 months before I made a good living. I honestly believe if I'd found Phil then, I would have been doing that within 3 months.
Any new trader lucky enough to stumble across him has my envy.
I have been trading wit Phil Newton for two months now. His training room, strategy and videos are, in my honest opinion, are the best strategy that I have come across in both approach to entries into the market as well as money and trade management.
He is generous with his time and his experience and expertise in forex. Any trader, whether new to trading or an old hand, should take something valuable away from Phil's daily sessions.
His commitment to his students is admirable and his discipline in taking his trades is something all traders should aspire to.
I would highly recommend his trading room for anyone who is genuinly interested in learning to be a better, if not great, trader.
I am going to base my review not on the amount of money Phil must "rake" in (see comment below) as the amount is not my business. I will rate it on quality. The videos are excellent as well as the text that accompany them. Phil responds to emails in a timely manner.
The live traderoom was not for me. Different part of the world so I never got the full benefit. Phil was absent a few times but to be fair, he states that, in advance, that it may happen due to health reasons.
The setups are not ground breaking but for some reason, Phil explains things in a way that you'd be hard pressed not to understand it. However, he has just released a new strategy, could care less about the name, that is performing quite decently when he stick to the plan.
Good site. Great info. The price tag is dependant on what you feel if too much/little. I had no problem renewing
I was trading with Phil for a few months in the live room, but had to leave due to my schedule. Phil is awesome, a highly disciplined and successful trader, playing the market like concert pianist plays a piano. He places and manages trades almost as fast as he talks, so it may take some concentration to keep up.
Some winners, some losers, at the end of the day there is usually pips in the bank.
You will be expected to do some work, learn the methods, management, and everything else that makes a good trader.
Phil follows his proven strategies to the letter, without fear or hesitation. A fantastic example of what I believe makes a great trader.
Phil is one of really a class teacher, got a great patience to make newbie understand the basics. There is no spoon feeding, individual has to realise and learn it which will stand in mind as a strong foundation. Phil does help a lot and give personal attention to individuals and suggest the best possible way to approach. I was in his live trading room for two months, i was very happy and started trading live account parallely and wanted to try myself to apply what i learned from phil. Iam quite happy and would recommend for my friends. I'm doing very well now.
UPDATE: Was a member from the start. Stayed with Phil for 9 months. In that time I became consistently profitable. I left as I felt ready to go it alone. I still trade his setups and find them profitable. Worth the money and time. recommend him!
2007-09-22 5 Stars Phils the man! I'm a member of his trading room and the guy has a very mechanical approach to trading that anyone can learn. His calls are live and he consistently makes a profit. His strategies are simple to understand and generate 100-150 pips most days. He also trades Dow futures using scalping strategies. Can't recommend the guy enough. Good website too, but you get everything you need to know in the trading room anyway. The room runs from 6am GMT and finishes about 4pm.