Let other traders know if this service is worth checking or should be avoided.
Your feedback matters!
Salt Lake City, Utah, USA,
Nov 3, 2007,
Looks good, but the live trading room is $250 per month. Just the website access is now about $60 per month.
Apr 21, 2013,
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.
Oct 12, 2009,
London, United Kingdom,
Dec 6, 2011,
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.
Nov 2, 2009,
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
Aug 15, 2011,
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.
Dec 10, 2007,
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.
p.s. May seem strange that ive given the service 5 stars but have dicontinued subscription after the first month. Basically i believe the service is of a good quality and the strategy is a viable pip winner if you are willing to put the effort in.
However everyone is individual and you need to trade a system that fits your personal goals. I dont want to invest the extra time and effort required to succeed in this secondary revenue stream so the fact that i could be making more money in the room doesnt really come into play. Time is just as precious.
Nov 12, 2007,
I'm new to live trading and have spent several months reading and attending various seminars/courses on trading different markets. After the initial disillusionment with so called fool-proof systems, mainly bought on internet(financial markets, golfing and horse-betting), claiming to be 90% accurate (whatever made me believe it? wishful thinking I know it now as I've lost over £1000!)I was recommended by Clickevents (excellent course which I attended was run by Alan Rich about trading shares)to try out for free Phil Newton's Live Forex Room. I can only spread-bet so Forex Market and Phil's expertise delivered live are ideal for that!!! Not only can I follow his thinking, and he's very good at doing it aloud, as the price set-ups occur and trades can be entered into, but also view numerous, educational videos, explaining in details his strategies which he implements daily in front of all Room members. The icing on the cake for me is the personalised service that I get ie I can post my questions which are then answered by Phil privately or by other members in the Room. I've been subscribing for 3 months now and can see many of the same names every months, not just the new adepts. Some people amaze me with their knowledge of trading, yet they still log on often daily and contribute to the Room, some work p/time like me and/or just watch and learn or paper trade. Phil's strategies are SIMPLE to understand and implement and I can see how effective they are in producing consistent profits but limiting losses with tight stops. The system requires a highly disciplined approach to trading - only if certain criteria are met. I'm looking no further for now and sticking with Phil! Recommend you do the same!
Nov 13, 2007,
I've been a member of Phil's website for a couple of years and a member of the live trading room since it started in August and for the first time in my short(ish) career, i'm starting to see some consistant and positive results.
I would highly recommend Phil's services to anyone - if you want to make it in this business, you might as well learn off one of the best and cut that steep learning curve down a bit.
Aug 6, 2008,
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.