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Falcon Day Traders


I believe this is the place in the forum it is ok to post about advisory services. Forgive me if this isn't, I don't want to seem like I am spamming but I do want to tell you about my service as it is relatively new.

[url]http://www.falcondaytraders.com[/url]

We offer a free trial for 5 Days. When you take it you get live commentary and calls from 7 AM Central Time to 4:00 PM Central Time.

I'll let the website describe about what we do. I've also tried starting a blog where you can ask questions about trading and read more about what we do. The blog is called 'Futures Trading Online' and you can find that at:

[url]http://futurestradingonline.blogspot.com/[/url]

It'd be nice if you posted questions and comments to the blog so I can build the blog up but the real way to see us is to take the free trial. Yes Falcon Day Traders is a service. I hope this post is ok.

Big Blue
You posted it in the right place Big Blue!

I was just looking at your FAQs and quote a small section:

quote:
What is Falcon Trader’s trading philosophy?
Falcon Trader seeks to capture small, high probability intraday market moves based on patterns occurring multiple times daily. Risks are 2 to 2.25pt per contract with fixed profit targets between 1.25pt and 2.25pt per contract, with the possibility of using a trailing stop to capture larger market moves.
Given the high number of trades how does the commission impact on profitability? What percent of total gross profit is the commission?

Do you place limit orders at the target(s) as soon as the trade is in place?

quote:
Is Falcon Trader a mechanical (automated) system?
Falcon Trader is a rule-based system, not a mechanical system. There is a visual component in the identification of the trade signals that cannot be automated. In order to use Falcon Trader, you need to follow the market during the trading session and place and manage your orders manually.
Do you take a break for lunch or are signals generated at any time? Do you need any special charting package or indicators to understand the signals or will any charting package do?
Thank you for clarifying that Day Trading. I feel better.

I do not offer brokerage services including managed accounts, and as such, I do not trade for you. Therefore, commissions never come into the picture. I hope that answers that question. I just mentor people in trading.

As for placing limit orders at targets, I do do this as soon as the trade is in place. Part of the reason that I do this is because when researching how to construct my system I put a heavy emphasis on statistics. How much can I expect the market to move when certain criteria are met. What percentage of the time will I be right if I place a target here, whenever these criteria are filled and I place an order. In order to trade the most favorable statistics I make sure I 'stick to the system.'

I definitely encourage anyone developing their own system to research the statistics behind the tools they use. How and when are those tools effective. As I always say, "trade what you see not what you believe."

Never believe blindly what people tell you and always make sure you research and see thousands of examples of those things happening. It's the best way to become a great trader.

quote:
Originally posted by day trading

You posted it in the right place Big Blue!

I was just looking at your FAQs and quote a small section:

quote:
What is Falcon Trader’s trading philosophy?
Falcon Trader seeks to capture small, high probability intraday market moves based on patterns occurring multiple times daily. Risks are 2 to 2.25pt per contract with fixed profit targets between 1.25pt and 2.25pt per contract, with the possibility of using a trailing stop to capture larger market moves.
Given the high number of trades how does the commission impact on profitability? What percent of total gross profit is the commission?

Do you place limit orders at the target(s) as soon as the trade is in place?

quote:
Is Falcon Trader a mechanical (automated) system?
Falcon Trader is a rule-based system, not a mechanical system. There is a visual component in the identification of the trade signals that cannot be automated. In order to use Falcon Trader, you need to follow the market during the trading session and place and manage your orders manually.
Do you take a break for lunch or are signals generated at any time? Do you need any special charting package or indicators to understand the signals or will any charting package do?


quote:
Originally posted by Big Blue

I do not offer brokerage services including managed accounts, and as such, I do not trade for you. Therefore, commissions never come into the picture. I hope that answers that question. I just mentor people in trading.
What I meant to ask was the effect of commissions on your system. I know a scalper who pays 40% of his gross profit to commissions. He trades 10 to 20 times a day and as such has a lot of commission to pay for small profits. Your system makes multiple traders per day and has small targets so I would expect that the commissions as a percentage of gross profit would be large. There's nothing wrong with that if it's profitable overall.

quote:
As for placing limit orders at targets, I do do this as soon as the trade is in place...
You mentioned that you sometimes let a trade run with a trailing stop. When would you not place limit targets and let this happen?

quote:
...Part of the reason that I do this is because when researching how to construct my system I put a heavy emphasis on statistics. How much can I expect the market to move when certain criteria are met. What percentage of the time will I be right if I place a target here, whenever these criteria are filled and I place an order. In order to trade the most favorable statistics I make sure I 'stick to the system.'

Part of your system is visual and as such it cannot be turned into a mechanical system. I would have thought that it would not have been possible to back test it and gather those statistics if you cannot mechanise it? How did you gather the probability stats? Through observation?
Sounds like commissions resulting from a high frequency of trade signals is not an issue with this system....quote from the Falcon web-site...http://www.falcondaytraders.com/system.php

"While Falcon Trader generates an average of 10 candidate signals per trading day, the filters eliminate the lower probability signals and reduce trading activity to an average of 1 to 2 trades per day. This prevents overtrading and reduces stress."
Thanks pt_emini - I missed that point. 1 to 2 trades per day is not too bad. The system appears to have reasonable claims and objectives. It is not claiming outlandish results and/or heavy draw-downs.
Blue,

You and I had exchanged some emails a while back. You had promised the following...this is a direct quote taken from your response to me.."Yes, proof can be shown, I can fax you the account sheets you can talk to my FCM but really my friend the answer is are you opened up enough to be the best you can be. This is not about me but you"

I then had asked for the contact information and the account statements and you have since ignored my emails.......please feel free to post any part of our email conversations...My intent was to try and find out if you are the real deal and not just another vendor trying to re - aim the focus back onto the customer instead of the vendor...You honestly seem like a nice person but I want what you promised as proof.....as you have said yourself, testimonials are fairly meaningless but they do work on some....I have heard good things about you and donot want to this to be a hostile debate in Guys great forum.

Here is one of my last replies to you .."OK..lets work on getting me your name first that would be a good start.....and then your FCM contact...as you said yourself so many post testimonials...they are meaningless to me.....the only thing that counts to me in evaluating a vendor is a two year day trading track record and or an unconditional guarantee...but lets forget the gaurantee part for now...." I also said this..

"
So let me know your FCM and then we can work on verifying the account statements..lets face it any one..can buy off a Value area high when we gap up and trade down to it so lets not go there..you can write as much of a response as you like but taking 100K to 4.3 million doesn't make me won't to run out and become a trading vendor....I would just trade and not deal with the public....most vendors reply to this is " I just love to teach"...so I apologize if I sound harsh but if you are the real deal you will be able to prove it and not conut on cheap testimonials etc...I look forward to the information and peace to you"

So lets follow through now....and not try to turn it around and make it about "me". It is about you. You said you had the statements and I can contact your FCM...so lets get it going...again you seem like a good person but the lack of follow through is suspect. I look forward to your reply...I will also cut and paste this and send it to your direct email so you don't miss it. And please....what is your real name is it posted somewhere that I missed...are people really sending 6 grand to someone who doesn't supply a first or last name...perhaps that is my error and I apologize in advance if I messed up...IN my emails to you I had also promised to warn the trading community about you so otheres can do their own research...I have held off on what was/is probably perceived as a threat...here is a chance to set me straight....thanks for your time
Thanks for the update Bruce. I just went to his site and see that he has an 800 number: 1-800-352-2495
Has anybody chatted to him?
Well it sure seems like Big Blue isn't going to come through with what he promised. I know he has had plenty of time to run his free trials in Paltalk and get more people signed up for his 6K course. Funny how that works. What a shame, here is a vendor that actually promised account statement but then didn't supply them...for a brief moment in time I thought he may have been different..I was wrong again...just goes to show how there is more money in Vending then day trading.....for most!!! Are people really sending 6K to someone who doesn't even supply a first and last name...? Amazing!!!!
Strange that. I tried to give his 1-800 number a call but it was (as expected) an answer service requesting your name and number. Like you, I'd love to hear from someone who has signed up with him. Sounds like the most expensive service that I have heard of.
Got this spam in my mailbox today.

Dear Trial Member,

As you wait for the January 8th, 2007 free trial I wanted to send you an email profiling one particularly successful member of our room. His screen name is TTMAG, a wonderful fellow who resides in Europe. Some people ask me what sort of success is possible with Falcon Day Traders and I hope that his answers get you excited. I also hope you look forward to meeting him and many more wonderful people when you take your free trial. Here are the questions I’ve asked him along with his answers. Enjoy!

How long have you been a member of my room?

TTMAG: I have been a member for over a year now.

And how much money have you made since joining Falcon Day Traders and starting with its system?

TTMAG: To date: 289.000 USD. I started with 100K in my account and it’s up to $389K right now.

What is the biggest difference you've noticed in your trading since joining Falcon Day Traders?

TTMAG: The most important difference is that I have a lot of confidence and that is a completely new feeling. The fear which every trader knows is replaced by safety. That leads me to feel that after 15 years of trading, I have reached my destination.

Have you taken any other courses out there and if so how does this course compare?

TTMAG: I have visited some other seminars and have spent thousands of USD for indicators, but I was never taught so precisely how the markets work and how to make profits.

What would you say to someone thinking of joining Falcon Day Traders?

TTMAG: Since I've become a member of your room I haven't had a trading week with a loss. Could there be a better argument? I just invite everyone to come into the room and ask me this question personally.

Thanks TT..


TTMAG: Thank you.

~Blue Falcon

This is all old news to us folks here...we broke the scoop about a year ago so you folks from Elite are a bit behind schedule. We encourage people to ask the tough questions and get statements and don't fall for some flimsy one week trial etc....

now what I would really like to see is one of you Big Blue falcon bashers have the nerve to post a word document that summarizes the teachings..this way we could just point people here to pick up their free copy and save themselves thousands...you could rename it of course....any takers??? Would make a great New year gift!!...I need more egg nog!!
quote:
Originally posted by Lafcadio

This is irony for you...I have been writing on elitetrader.com informing all who want to learn the truth about Falcon Day traders what a scam it is. And on this page is a advertisement heralding 90% wins...what is the site?...non other than the infamous falcon fleece operation.


I was a member... I observed Mr. blue..."Mr Falcon", in all his glory ..rarely did I EVER WITNESS him making a winning call!!! If you have read thus far you know it is something he always promised to do...call live trades...He uses any excuse to escape doing that for a very real reason...His total ineptness and lack of any ability to trade profitably would be all too obvious.

For all those who come hear to find the truth about Falcon day traders...here it is...Falcon and Mr. blue are scam artist ...con artist...BS artist...say what you will. He cannot trade and hasn't a clue as to how to make a profit in the market. You would be better off reading Popular Mechanics than paying a nickel to this scoundrel. Be forewarned!!!