Proflogic method - successful?

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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!
 
Quote from easyrider:

Prof says he has lots of profitable students. Youd think one of them would come to his defense.
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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.
 
Quote from market_hacker:


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.
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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.
 
Quote from downtickboy:

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.
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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)
 
Quote from Duey Decimal:

seems to be a moving target.

I spoke to someone that "trained" with him for HOURS over personal telephone sessions. (I will say this -- he seems to be very generous with his time. He does not charge extra for the sessions over the $300 that he charges to join his room.) According to the person I spoke to, he was constantly changing his methods. Switching to this chart and then to that. He seems to have moved from trading off a 777-tick chart to trading almost exclusively off a 98-tick chart, or something like that. It's not only the chart frequency that he changed; he's changed the whole methodolgy numerous times. From what this person tells me, he followed along in the new "chat room" for a while, and it seemed to him that no one there was actually making money, with the exception of one trader, who seemed to constantly post winning trades (I don't recall his moniker), and when this person PM'd him, the guy told him that yes he's making good money, but he's not using ProfLogic's method at all. Then he says that he wants to form his own group (one charletan to another??).

I too am a member of ProfLogic's website, although I haven't researched his method thorougly enough (especially through all its evolutions) to know if it makes money today. I highly doubt it. This is for sure: The trades he posts on his website (you know, where he never has a losing trade) are based on hindsight and subjectivity, and, as he sort of alludes to, could never be repeated by even the most orthodox follower of his system.

Having said all this, I personally did not regret the relatively minor $300 it cost me to subscribe to his website. I found it helped me along in my trading conceptually if not practically -- but the concepts helped me to get the practicals on my own.

What's his motivation? I don't know. Now I hear he's giving seminars in Singapore. Maybe he's charging a lot of money? Maybe he loves to teach? Maybe lots of times $300 adds up (I hear there are over 50 people in his chat room on a daily basis!)
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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.
 
Quote from Duey Decimal:

He flip-flopped a lot. I remember once being on the phone with him myself, when I was questioning a method he was using at the time, which would have lost money on that particular trade. In the middle of our conversation, he said something like, "Oh I didn't tell you beginners yet about the following rule..." Then, as we were talking, the market changed. He backtracked on the rule change, telling me to forget he ever said it. Rules do change, but his seem to change on whims. Also, although he has claimed his "method" is not subjective and completely objective, this does not seem to be the case. As far as I can tell, the rules on his rules page, if subjected to the objectivity of a trading simulator, will lose money. I have not done it myself, nor am I familiar with the method he currently trades, but when I tried walking through his method on charts, it was losing money, and the results weren't even close to the "theoretical results" he posts on his website, which as I said are trades taken with hindsight and at unattainable prices.
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If this is Duey from Utah, you are a bold faced Liar!
 
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) :)
 
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