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Forex Mentors - The Best Investment You Can Make?

  • #501
  • Sep 2, 2009 1:20am Sep 2, 2009 1:20am
Quoting teddybearhug
Pipmutt,

You are a troll
You are being deceptive and misleading in all your posts.
You have NOT proven anything and you have not dismantled any of the statements by Jacko.
What you have proven with all your posts here is that you are a troll with a perverted agenda against one of the most respected members on this forum.
As a member of his group, I can tell you straight from the heart: You are not in his league.

[b]He is a big and amazingly consistently profitable trader and he has helped each of us in the group to make big profits and learn...
Pipmutt

There is a BIG difference between you and Jacko.

You are a troll. Jacko is a trader.
  • #502
  • Sep 2, 2009 1:25am Sep 2, 2009 1:25am
Quoting LasVahGoose
You should have taken your own advice in post# 43.
http://www.forexfactory.com/showpost...5&postcount=43

Ah, but you and your cronies just wouldn't leave it would you!

Anyway, this is a pointless exchange, if you think I've 'slandered' someone it's simple.....sue me!


ps - lol see what I mean, right on cue to prove my point.....daringdave

Too funny......


Have a great trading day all
  • #503
  • Sep 2, 2009 1:35am Sep 2, 2009 1:35am
Quoting pipmutt
Ah, but you and your cronies just wouldn't leave it would you! Anyway, this is a pointless exchange,
Hmmm... Yes you've been saying how pointless this thread for a long time. Let's see, maybe post #74 was your first clue? YET! You are still here!

http://www.forexfactory.com/showpost...4&postcount=74
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #504
  • Sep 2, 2009 2:24am Sep 2, 2009 2:24am
Quoting jamiewhite
Hey GubyIO
When I come here it is not to call someone an ass licker.

When I come here it is not to boast. It is because I have found something special and want to tell other traders about it.

When I come here I want to talk about profits and how to make them easily and regularly than crap about Behind Price-Orderflow and Long term Profits within Negative Expectancy which we can have no influence over and are...
You state you come on here because you "found something special" and want to tell other people.This is a forum for discussing Forex, not to repeatedly advertise how great somebody is. I understand you think Jacko is good, you have it in your signature even, thats fine.

You show your own ignorance by running down two of the best threads on here and two of the most important topics in trading itself. If not the most important topics. Your assertion that they are rubbish threads because we have no influence over them is just plain silly, as there is not a single thing we have influence over in trading except ourselves.

Oh and btw nobody actually cares about your retrospective winning trades. I never saw Jacko on here talking about his losses. And again pips is a useless judge of profitability on all accounts, anybody who knows anything about trading knows that.

I took just over three per cent intraday trading yesterday, but I don't feel the need to brag about it (What sort of an idiot would I be if I did lol) . . And I even came up with the system myself ! ()

Your a typical Jacko turtle with absolutely nothing of merit to say. Ignore list for you, because I am not missing out on anything

Quoting LasVahGoose
You'd have to go way back in the thread, pipmutt was making insinuations that Jacko was a snake oil seller ripping of ignorant newbies selling a 1/2 baked system. Those are his words. It's pure slander and uncalled for.
I read the thread, and I honestly did not see that myself (Or I certainly can't remember seeing it)
Quoting LasVahGoose
This has been discussed actually, either a new thread or use the current one. Naturally, the E/U would not be discussed as it would be conflict of interest with the private side. I'd have no problem, as long as there is approval from Jacko, to something like this. I think it would help the thread, much like how J16 works.
I still read the Jacko thread everyday just to see if there are any good posts that I can learn from in it by anybody, would love to see this. I don't obviously expect live calls or whatever, just some analysis and discussion would be awesome, I agree it would improve the thread no end as it's a pretty useless thread at the moment.

Although all the backslapping and "great call Wayne" seems to attract a lot of rookie traders who want to sign up, so maybe thats what Jacko wants.

I would like to see it like J16, eventhough Jacko has reasons for not trading other pairs I think his system would work perfectly well on other pairs. I can only see it as a help to the turtles as well.

Hoping and looking forward to it LVG

Quoting arcane83
This is very interesting. I am not yet a trader, i don't know if I should even be here however I am thinking a lot about getting started in forex and I want to start out right. I am totally inexperienced and I am still in the process of researching and understanding what is to be done to begin a career in trading. So, what should it be then? Is it worth it to get a forex mentor? several replies are talking about a specific mentor here in FF. Since I'm new to all this, I haven't really heard about him yet but it seems like he has a lot of satisfied...
Hello there and welcome,

I am unaware of Scott Schubert, so I cannot give you an opinion either way.

I personally am a member of the James16 group, and found it invaluable in the way I approach trading, I don't use any of the systems anymore as I have created my own which I am more comfortable with but the systems are profitable. I found the psychology section really filled a gap for me. Its the way the group approaches to trading as a business which makes it good, rather than the material itself. Well thats just my opinion on it. You also get the systems of many of FF's leadings members (I don't trade any of them as I have my own) described there as they are senior members there. James16 is here - http://www.forexfactory.com/showthread.php?t=2331

But you actually can learn everything you need on the thread itself, and as well as that there are traders that are far better than me in the thread all the time to answer peoples questions.

I have no experience of Jackos group, as I said earlier some people say its a great group, some members I know say its not that great, I would advise reading his thread and making up your own mind. Jacko is here - http://www.forexfactory.com/showthread.php?t=27286

Clockwork71 is a good trader who has a trading group, I am not a member of his group either but I have heard only good things so far, his methods are profitable.

Clockwork is over here - http://www.forexfactory.com/showthread.php?t=155431

To be honest I would just advise reading those threads, read those threads and stay out of the trading systems area of FF and chances are you will be a better trader than 90% of the people on here. Then all you need is trading experience and you will be fine.

Trading is a game that is all about experience so in ways Mentors really are not needed.


Quoting daringdave
He has continued to churn out hundreds of pips in the last two weeks.
Typical Jacko cronie talk

Quoting daringdave
Pipmutt

There is a BIG difference between you and Jacko.

You are a troll. Jacko is a trader.
Again, typical Jacko cronie with absolutely nothing to add.

Pipmutt is a trader.

Jacko is a trader who sells a signal service and has a blog where he gives his opinions on the market.

I can't see how any of this rubbish helps Jacko.

It just annoys me to read this absolute tripe.

Another for the Ignore list, my opinion of Jacko will probably increase and be back to what it used to be over time once I forget about this type of idiocy.
  • #505
  • Sep 2, 2009 3:22am Sep 2, 2009 3:22am
wow. this is amazing. do you guys know that this thread become an argument some 450 posts ago?
  • #506
  • Sep 2, 2009 4:18am Sep 2, 2009 4:18am
Quoting vaultdweller
wow. this is amazing. do you guys know that this thread become an argument some 450 posts ago?
Welcome to the internet. Hope you enjoy your stay.
  • #507
  • Sep 2, 2009 4:36am Sep 2, 2009 4:36am
you guys must be bored with life or something aye...
get off your computers and go find woman the testosterone build up is killing y'all haha
god damn trolls haha
  • #508
  • Sep 2, 2009 4:42am Sep 2, 2009 4:42am
Quoting Pipscalibur
get off your computers and go find woman
I would but I can't afford another divorce, prenups aren't worth shit
  • #509
  • Sep 2, 2009 4:46am Sep 2, 2009 4:46am
Quoting pipmutt
I would but I can't afford another divorce, prenups aren't worth shit
...on the third day god created hookers
  • #510
  • Sep 2, 2009 4:58am Sep 2, 2009 4:58am
The conclusion I've reached is that if a person wanted a mentor who would offer them a broad based training in forex, incorporating all time frames, all markets, a comprehensive over view of indicators, fibonacci analysis, using support and resistance, candlestick patterns, chart patterns, a thorough grounding in risk reward, detailed money management, etc, etc, with an outside possibility of being able to tie this together and become profitable, Jacko would not fit the bill.

However, to give him his due, he hasn't advertised himself as this sort of mentor; so, in my opinion, he shouldn't be criticised as if he had.

On the other hand, if a person wanted to learn a more idiosyncratic approach, in one market, one time frame, and one simple way of looking at price as it unfolded, with the likelihood of being profitable if they manage to do as Jacko does, he's possibly their man.

It does sound, though, as if his approach is easier to follow than to emulate, with a large discretionary element; so 'managing to do as Jacko does' is probably harder than it looks.
  • #511
  • Sep 2, 2009 6:28am Sep 2, 2009 6:28am
The hardest part is having the necessary patience (which is a key factor for any degree of success imo) to let the trade play itself out - the rest is fairly simple if one dissects how he trades.

Personally I have found 4 threads - each of which has contributed in it's own way to my method of trading and highly recommend them.


James 16 http://www.forexfactory.com/showthread.php?t=2331

Jacko http://www.forexfactory.com/showthread.php?t=27286

No Brainer Trades http://www.forexfactory.com/showthread.php?t=86429

Strat's Long term Stress Free Trading http://www.forexfactory.com/showthread.php?t=155459

Cheers
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #512
  • Sep 2, 2009 7:20am Sep 2, 2009 7:20am
Quoting slackjaw
The conclusion I've reached is that if a person wanted a mentor who would offer them a broad based training in forex, incorporating all time frames, all markets, a comprehensive over view of indicators, fibonacci analysis, using support and resistance, candlestick patterns, chart patterns, a thorough grounding in risk reward, detailed money management, etc, etc,
I think a thorough overall knowledge of any business is imperative in any serious business venture isn't it?

A mentor should be able to give a student all the guidence he needs to have a complete grounding in the business and achieve success, and be beside him every step of the way. For (forex) trading that would include all the things you mentioned, and more.

There's a little bit more to mentoring than saying 'do xy and z' but if that's all someone wants then they can buy a book or read a strategy thread.

I guess it depends on whether someone wants to become a trader, or an automaton. If the latter then they may as well use a signal service, or bypass the whole trading process altogether and just invest their money with a reputable money manager, sit back, and take the profits.
  • #513
  • Sep 2, 2009 8:07am Sep 2, 2009 8:07am
The title of the thread is very revealing. Whether 'mentor', 'trading course' or 'winning system for sale' - they all work on a very ingenious business premise:

In this business you can sell the unsuspicious buyer anything you like - because the market has no guarantees - and since everybody (even the total beginner) knows that, all the risks are on the buy-side.

For the seller of anything in this business, there is hardly any risk - except at worst a ruined reputation.

A question that should be asked (and slackjaw touched on the subject) is this: how can one sell (or teach) discretion?

Discretion is the accumulated knowledge and wisdom about a subject that ultimately gives one a bias to create a decision. More often than not this type of 'decision reaching ability' is non-transferable. In the majority of cases the person who has the ability knows that each occasion is a fluid concept and so many factors which at times cannot be quantified come into play.

So, what should a mentor's aim be (or conversely, what should the person looking for a mentor really expect from him/her?)

1) Don't follow what you cannot explain yourself (at least not until you can explain it).

2) If it cannot be explained to you (in simple terms), its more likely that the concept is flawed (rather than thinking that you are too stupid to understand it - although in rare cases stupidity can be a hindrance).

3) If you are in spite of a transferable method* unable to pull the trigger yourself (make money from it), put the money into the hands of someone who can (proven, of course).

* transferable method: a 100% mechanical trading model that involves no discretion whatsoever and can be traded by anyone according to rigid rules achieving the same results, no matter who uses it.

I don't know 'Jacko' at all, neither do I care about what he does. But for all the people who have in the past or intend in the future to work with him (for free or choosing to pay a fee for his services) should ask themselves the above questions plus one other:

Can you from tomorrow stand on your own feet and achieve your own desired results without that mentor?

If the answer is yes, then your 'investment' was justified.

If the answer is no, then it proves only that you have to do your own hard work to build a suitable trading model - since the transferable ones I have mentioned earlier are usually very hard to come by.

On a different note:

I really don't understand all the 'flag-swinging' for this person. Whoever he is, his own results should speak for him - in one way or another. If someone intends to have his/her money managed by that person, it is up to them to do the due dilligence. And for all the people who supposedly have 'seen' or 'witnessed' the statements, I would apply a degree of discretion before tromboning that type of information - unless of course it is consented by the person who generated the P&L - it is commonly known as professionalism.

All the best.

regards
daytrading
Enter Signature
  • #514
  • Sep 2, 2009 8:35am Sep 2, 2009 8:35am
I signed up for Jacko's mentor program about a month ago now. Not because I thought I was on the wrong side of a trade all the time, but to see how some of the more seasoned traders do things and to see if my own trading could benefit from understanding the thought processes of someone else who is profitable.

The facts... I have taken every trade that Jacko has taken this past month (except when in his own words he was merely speculating about a trade... only the one time). There has been one loser the past month, but the loss was recovered on the next trade.

The negatives... well there are none really except that Jacko is human and therefore fallible. On Monday past, (GBP bank holiday) we were in a trade from Friday and the trade was profitable. Jacko did not have his eyes on the prize and was distracted by life (he had a friend visit him in HK). A profitable trade turned bad in the space of about an hour or so. At any point I could have closed the trade myself, but chose not to to see what Jacko would do. Well, Jacko wasn't too perturbed about the losing trade as the trend was still in our favour and the trade was no where near our stoploss. The next day we were able to close the trade in profit.

All queries I have had have been answered fairly promptly. Everything he states in his blogs and his texts is clear and concise. It is down to the individual to take his recommendations or not.

Anyway, my point is this... I DON'T see PipMutts posts as slanderous towards Jacko. I DON'T see Jacko's service as a mentoring program as there is no ONE-TO-ONE attention given to the individual to make his own trades with whichever pair he wants with some guidance from Jacko. Given the amount of 'students' he has, this would be impossible due to the physical time constraints and timezones.

That doesn't mean that I don't find value in what he offers. I am seeing value in the trade calls that he provides and his thought process behind them. I also find value in his 'students' emails (which he answers quite diligently) not necessarily because they ask anything of particular value, but to understand their mindset also.

Let me be clear... It is not a mentorship program in the truest sense of the word. It is not for everyone. You could probably find books and threads here on FF with the exact same setup as Jacko's. But if you are looking at VALUE, then his service has this by the bucket load.

PipMutt, I have no conflict with you about your views as I share most of them. Do not denigrate yourself by replying to those who do not share them and wish to cause an argument at every benign post.
  • #515
  • Sep 2, 2009 9:05am Sep 2, 2009 9:05am
Quoting Limstylz
I DON'T see Jacko's service as a mentoring program as there is no ONE-TO-ONE attention given to the individual to make his own trades with whichever pair he wants with some guidance from Jacko.
Well, all I can say is that my experience has been completely different. He has been a reference and guide on several other pairs and trades I've taken. I didn't want to be spoon fed per se, but wanted his take on it and I listened to what he had to say. He nudged here, suggested there, but I always made my own decision. Needless to say his analysis was better than mine, but I was able to compare and contrast and see the points being made. I learned from those trades and that is what matters to me.

Like anything in life, you get out what you put in.

Quote
Given the amount of 'students' he has, this would be impossible due to the physical time constraints and timezones.
Well you just got black swaned, because what you thought was impossible has happened.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #516
  • Sep 2, 2009 9:13am Sep 2, 2009 9:13am
Quoting LasVahGoose
Well, all I can say is that my experience has been completely different....
My experience with Jacko is entirely positive. I don't have anything negative to say about the service I receive so I don't see how your experience is any different to mine...

As I said in my last post if you actually bothered to read it... I AM FINDING VALUE IN THE SERVICE, so yes I am getting out what I put in.

Black swaned? I don't know the expression. Googled it with no joy... What does that mean?
  • #517
  • Sep 2, 2009 9:17am Sep 2, 2009 9:17am
Quoting Limstylz
My experience with Jacko is entirely positive. I don't have anything negative to say about the service I receive so I don't see how your experience is any different to mine...

As I said in my last post if you actually bothered to read it... I AM FINDING VALUE IN THE SERVICE, so yes I am getting out what I put in.

Black swaned? I don't know the expression. Googled it with no joy... What does that mean?
I was specifically responding to the parts of your post I quoted in mine.


"Black Swan" is a book by Taleb. He also has another book "Fooled by Randomness" is the one I read and enjoyed.


Good trading to you.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #518
  • Sep 2, 2009 9:27am Sep 2, 2009 9:27am
Quoting LasVahGoose
"Black Swan" is a book by Taleb. He also has another book "Fooled by Randomness" is the one I read and enjoyed.
Would I need to read the book to understand what it means, or could you just paraphrase?

I am glad that you too are finding value in his service... How soon was it from your emails to him about your trade setups on other pairs to his response?

Regardless... It's still not by the standard definition of a mentor.

Thanks for your sentiment. May your trades also be as profitable as your analysis...
  • #519
  • Edited 10:02am Sep 2, 2009 9:52am | Edited 10:02am
Ok,

I took the time to take a look at the Blog-site.

If that is the 'entance door' of his so called 'business', I would consider it unprofessional at best.

Firstly, using slang like '...pain in the ass...' is a total disregard for proper language in the context of what is (or should be) a serious enterprise (in spite of the fact that readers may relate to the content).

I did scroll down a little further and point 8. is shocking. When working for investment houses or other serious businesses in the financial industry, if I ever advertised that while working either with other peoples money or sold a service to them, I was sitting in a beach bar, I would lose all credibility at once.

(Of course, he is a one man show, but nevertheless under the heading that one can trade from anywhere in the world, I wouldn't consider my local cafe as a professional trading environment.)

He proclaims Trend Trading to be a 'very unusual and rarely used strategy'.

Now if I forgive all the faux-pas made in constructing the blog, my assessment is that this one takes the top spot.

Even if the person is in fact a profitable trader in his own right, with the content of his Blog page, he might as well tatoo the word bullshit on his forehead.

It is laughable at best, even with a clan of followers who insist on his professionalism - he should be thankful for those statements of support since the web based invitation and his personal introduction won't cut it in the big league - but that might not be what he aims for.

Please don't misconstrue this as a personal attack. As I mentioned, I have no idea who the guy is - but from a 20+ year business experience in the trading industry, that is my view.

There is nothing wrong with being somewhat unconventional to a degree, but to be honest, this just migh attract rather desperate clients.

Either way, for those newbies who became a success from his 'teachings', I congratulate you - its a hell of a proof for the saying: don't judge the book by its cover.

regards
daytrading
Enter Signature
  • #520
  • Sep 2, 2009 9:58am Sep 2, 2009 9:58am
Quoting Limstylz
Would I need to read the book to understand what it means, or could you just paraphrase?
The Black Swan theory basically states that you cannot prove a positive statement, such as 'all swans are white'; you can only disprove it - 'here's a black swan, ergo, not all swans are white'. In other words, absence of evidence is not evidence of absence. I don't quite know how it fits into this though.

Well worth reading Taleb's books.
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