Most of the hoo-rah here over Jack is about his intraday ES method. His swing trading stock method has much clearer rules and appears to work. And the "Jackpeople" don't go bust. They never progress past paper trading the intraday method! Paper trading it apparently suffices to produce great mental anguish. "I'll never trade again", they say, never actually having traded in the first place. Haha!
I learned a lot from him. I don't use his method exactly as is because I trade on a lot shorter time frame. However, i use his method exactly as is for establishing my market bias. IMHO Nothing he teaches is really out there and is all pretty much common sense. But if you've ever been lost as a trader you know how far from common sense you can get. The value in what he has done is packaging some solid concepts into a pretty nice framework. I find that keeping what he has taught me in mind prevents me from doing truly stupid things I used to do primarily: 1) buying tops and selling bottoms 2) trading against the market trend 3) missing the distinction between being contrarian and being suicidal. I also find that i am a lot more in sync with what is going on and better able to anticipate what will unfold next. (And quickly know if my anticipation is wrong). And when it's right i get a really nice entry with a lot of upside. Another thing i learned from his method (by experience) is how to sense and hold onto a winner which is not as easy as it sounds if you started out life making <30 second trades. Even he would say (I think) that its not that he invented some magical method so much as came up with a good way of presenting and monitoring the nature of markets and how to work with them. Anyway as far as I know he has stopped taking students so all of this is moot point but I got a lot out of looking at things from his perspective and therefore felt obligated to speak up as much as I really don't want to because frankly who needs the attention that one can expect stepping into a thread like this. Comparing him to woodie (who i have listened to first hand) is not a fair comparison and was my biggest motivation for writing. I don't understand a word Jack/Grob says so i withold opinion on comparisons there.
That's what I heard from my source too, his method is not exact but can be used in trading with some advantage. Even if it increases the winner ratio by 5% or helps avoid taking drawdown signal, it might be worth $300 to be fair and unbiased.
Hey thanks for speaking up. I did not start the thread to bash proflogic at all. I just wanted to honestly find out if there was anything there and if anyone was using any of his ideas profitably. Thanks for the input.
You're welcome. Your question was entirely reasonable. I was speaking more about how the nature of online message boards is such that they lead to a lot of drama and petty bickeriing. (This is not unique to ET). I normally don't like participating in all that and prefer to just gather infromation through listening. (Selfish of me i know)
You would make a good reporter for the "Enquirer". Allow me to clarify things for you. I make No Money trading. I'm actually a hair dresser living in hills of Arkansas with delusions of success. There is no one on the face of this earth that uses my Methods successfully. I am currently being paid by market surfer aka hank rollins aka whomever & nononesense, to pertetrate the myth that trends exist so unsuspecting traders will invest their hard earned money into the market to inflate it so hank and his friends can fade their trades. On the fact side. My worthless method is the same today as it was 4 years ago just fine tuned to the new Volume Bars, which I lobbied for, for over 3 years and perfectly geometrical charting. The only "newness" is the ERG which replaced Stochastics 2 years ago. If you would have ever bothered to learn what you "say" you have access to you would understand that. Ah, but it's easier to gossip. More fun too. Hey, you could always try to prove the method wrong . . . that would be fun wouldn't it. Of course then if you couldn't you would have to admit to it.
Traders beware especially newbies: These boards are continuously being used by vendors to hack there wares. 99% of the time a vendor sells a method because he can not make money from trading it themselves and that why they sell it. This is obvious but don't feel bad if you had to learn it the hard way we all do. The best thing that you can do is read as many GOOD books as you can on trading and develop your own methods. If you are VERY lucky and you do find a good mentor that falls into that 1% category then you will be very fortunate and it will save you lots of study time but if you can't then you better hit the books and stare at the screen because there is no easy route and this can take SEVERAL years. I don't personally have any experience with this proflogic guy but I highly doubt he is in the 1% category because it takes a heck of a lot more then one oscilator to make money in this game. (his picture of Samson on his web site is very cool though so he cant be all bad)
Samson's blog http://www.samsontrading.blogspot.com/ Proflogic's web http://www.logicalmarkettrends.com/ he he funny same pictures those who do not like Samson go to Proflogic and visa versa.