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KPrice, London, United Kingdom
Rating:
Date of Post:
2011-12-06
Review:
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.
David Davis, Walmer, Kent, England
Rating:
Date of Post:
2011-09-17
Review:
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.
Brigitta Schwulst, SA
Rating:
Date of Post:
2011-08-15
Review:
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.
Steve, Canada
Rating:
Date of Post:
2009-11-02
Review:
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
Jay, London
Rating:
Date of Post:
2009-10-12
Review:
Phil’s live trading room and website are, in general, OK. However, considering the money Phil must rake in from both of these services he runs it all on a shoestring – let me explain:
The updates to the website are very sporadic, sometimes there will be an update video every day together with comments posted throughout the day, at other times a week or more can go by and nothing will be posted. Hence, if you are a website member who, say, wanted to use Phil’s “daily” outlook as part of your strategy you couldn’t rely on it being posted everyday. It very much seems as though Phil starts something and then gets fed up and lets it slip, hence why the videos and website comments come in fits and starts.
When he takes time off he “tries” to get someone to cover for him, which is usually George Hallmy. Whilst George seems OK he only “pops” into the live room a couple of times a day for a few minutes to chat about his “observations,” which tend to all be in the past tense, i.e. “price hit resistance there,” “there’s a nice head and shoulders pattern there” etc., etc. - all very interesting but mainly useless unless you are a time traveler. There is no refund when the service with Phil is not available you like it or lump it I’m afraid.
The training material on the website is OK but quite often seems half finished. Just like his latest strategy “ding a ling a ding dong” (what a name) the page has been started but yet to be finished, again as though Phil’s rush of enthusiasm has lost its momentum.
My final gripe is the hours of the site are very hit and miss, all depending on how Phil feels that day.
Overall you can learn stuff from Phil and he’s not a charlatan like so many of the “trainers” out there. It’s a question of whether you can put up with the inconsistent way he runs the room and website. I guess if he would spend some of the subscription fees on an assistant this could be a very good site and rival the big boys such as ForexBootCamp and Forexmentor who run their training professionally for about the same price as Phil does – hence you can see how much profit Phil must make given he does it all himself!
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.
Forexbee, UK
Rating:
Date of Post:
2009-03-10
Review:
Hi,
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.
KEITH H, LONDON
Rating:
Date of Post:
2008-08-06
Review:
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.
Paul W, UK
Rating:
Date of Post:
2008-07-31
Review:
I have been in Phil's trading room for about 9 months now and highly recommend it.
Phil is one of the most honest and open traders I've come across. I've learnt more from his approach to trading than I care to admit. His money management rules and entry/exit rules are cast in stone. It's been hugely useful for me to see an expert rigidly stick to their rules even through draw downs and come out the other side smiling, where I would have previously been looking to modify my rules.
You just have to look at his monthly pip totals to see that his approach works and it's all done live and fully explained in his trading room.
Great service, highly recommended.
Risk Warning. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all
investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in
foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite.
The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you
should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign
exchange trading, and seek advice from an independent financial advisor if you have any doubts.
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Disclaimer and Risk Warning. Please read.
Risk Warning. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Disclaimer All information posted on this website is of our opinion and the opinion of our visitors, and may not reflect the truth. Please use your own good judgment and seek advice from a qualified consultant, before believing and accepting any information posted on this website. We also reserve the right to remove, edit, move or close any post for any reason.
Advertisements Warning Advertisement links are displayed throughout the site. Some pages in the site may contain affiliate links for products. These advertisements and/or links do not reflect the opinion, endorsement, or concurrence of this website or affiliated parties. The FPA's reviews are never influenced by advertising. Some ads might contain potentially misleading and/or unbalanced claims and information that may fail to disclose risks and other important considerations involved in speculative trading.
Spammers be Warned If you spam the FPA's forums or reviews, we reserve the right to edit your post in any way we please to make fun of you. By spamming us, you agree to any edits we make and to take no legal or other actions against the FPA or its associates for anything we do to or with your spam.