Jack Crooks

This is a discussion on Jack Crooks within the General Trading Chat forums, part of the Reception category; The previous post refers to the "World Currency Alert" service, which trades currency ETF's. This is a different service from ...

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Old Dec 7, 2008, 7:34am   #16
JTM
 
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The previous post refers to the "World Currency Alert" service, which trades currency ETF's. This is a different service from Jack's "World Currency Options" service, which trades options, not ETF's.

I have no first hand experience with "World Currency Alert" or currency ETF's and therefore can not comment on it.
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Old Jan 15, 2009, 6:37pm   #17
 
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ok JTM, it is now Jan 09...are u still happy with the results, and gaining profits?
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Old Feb 3, 2009, 10:17am   #18
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Originally Posted by JTM View Post
I can't comment on Rob Booker as I have no experience or knowledge of him or what he offers. I can only speak to Jack Crook's service, specifically "World Currency Options". (He has other services as well: "The Money Trader" and "Exotic FX Alert". Both of these are FOREX trading services.)

I suggest the World Currency Options ("WCO") as a way to get started in Foreign Exchange Trading. This service trades foreign exchange options (puts and calls on currency pairs) on the Philadelphia Stock Exchange.

First, let me clarify something. Jack doesn't sell "systems", he sells trade recommendations. He tells you what to buy and, most importantly, when to take your profit (or loss). Of course you are free to make the trade or not, determine the appropriate position size, close the position at any time, etc.

There are several advantages to the options approach for beginners. First, it does not require a FOREX account. These options can be traded in any brokerage account approved for equity options.

Secondly, unlike FOREX trading, the risk is clearly defined. You can not lose more than the price of the option plus commission. In the last five months about a third of my trades have resulted in a loss, averaging about 48% of the investment. In other words, I recovered on average 525 of the premium paid.

Thirdly, Jack does an excellent job of explaining his reasoning for the trade and provides charts etc. This is very helpful in developing an understanding of foreign exchange markets, and will be really helpful if you decide to open a FOREX account at a later time.

WCO provides a way to experience foreign exchange trading at relatively low risk. It will give you the opportunity to get some experience and make some money. The majority of new traders on FOREX fail. There is no system that will work over time because the markets change. There is no substitute for knowledge and experience, and in the FOREX market, that can take years and more money than you think to develop.

Happy trading!
I subscibe to crooks and his timing and advise is garbage lok at his loses.
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Old Feb 22, 2009, 10:45pm   #19
 
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Chrisbow, I understand you've had losses of magnitude and you seem fairly upset about the whole Crooks thing. Can you elaborate on the recommendations you followed, and why this seem to have failed so badly?
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Old Mar 2, 2009, 2:10pm   #20
Joined Feb 2009
jack crooks is a crook so is martin weiss heres the proof

Quote:
Originally Posted by janieg View Post
Has anyone used Jack Crooks System? I've read about his credentials and he sounds legitimate, but his service is $2500. 00 I'm a newbie and maybe a bit gullible, but I don't want to spend a ton of time researching. I'm reading about a lot of people on here losing money. I haven't read about those who are doing well or how long and how much money they went through before they started making a good return on their investment. Any insight or experiences with Jack Crooks program would be appreciated!
thanks,
Janie
Its rubbish log on to this web page it will blow your mind and answer ALL your questions
REMEMBER jack crooks is part of Weiss group i have lost $200,000 in less than 6 months o Weiss option alerts and Jack Crooks world currency option alerts .
Read the court case.
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Old Mar 2, 2009, 2:14pm   #21
Joined Feb 2009
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Originally Posted by chrisbow View Post
Its rubbish log on to this web page it will blow your mind and answer ALL your questions
REMEMBER jack crooks is part of Weiss group i have lost $200,000 in less than 6 months o Weiss option alerts and Jack Crooks world currency option alerts .
Read the court case.
www.sec.gov/litigation/admin/2006/ia-2525.pdf
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Old Mar 2, 2009, 2:17pm   #22
Joined Feb 2009
jack crooks is a crook so is martin weiss hers the proof

Quote:
Originally Posted by Supermu View Post
Chrisbow, I understand you've had losses of magnitude and you seem fairly upset about the whole Crooks thing. Can you elaborate on the recommendations you followed, and why this seem to have failed so badly?
check this web page out it will answer your questions crooks is part of weiss
www.sec.gov/litigation/admin/2006/ia-2525.pdf
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Old Mar 2, 2009, 4:15pm   #23
Joined Dec 2003
Quote:
Originally Posted by JTM View Post
I can't comment on Rob Booker as I have no experience or knowledge of him or what he offers. I can only speak to Jack Crook's service, specifically "World Currency Options". (He has other services as well: "The Money Trader" and "Exotic FX Alert". Both of these are FOREX trading services.)

I suggest the World Currency Options ("WCO") as a way to get started in Foreign Exchange Trading. This service trades foreign exchange options (puts and calls on currency pairs) on the Philadelphia Stock Exchange.

First, let me clarify something. Jack doesn't sell "systems", he sells trade recommendations. He tells you what to buy and, most importantly, when to take your profit (or loss). Of course you are free to make the trade or not, determine the appropriate position size, close the position at any time, etc.

There are several advantages to the options approach for beginners. First, it does not require a FOREX account. These options can be traded in any brokerage account approved for equity options.

Secondly, unlike FOREX trading, the risk is clearly defined. You can not lose more than the price of the option plus commission. In the last five months about a third of my trades have resulted in a loss, averaging about 48% of the investment. In other words, I recovered on average 525 of the premium paid.

Thirdly, Jack does an excellent job of explaining his reasoning for the trade and provides charts etc. This is very helpful in developing an understanding of foreign exchange markets, and will be really helpful if you decide to open a FOREX account at a later time.

WCO provides a way to experience foreign exchange trading at relatively low risk. It will give you the opportunity to get some experience and make some money. The majority of new traders on FOREX fail. There is no system that will work over time because the markets change. There is no substitute for knowledge and experience, and in the FOREX market, that can take years and more money than you think to develop.

Happy trading!
One thing that always amuses me about many of the first time posters who come out of nowhere (Google Alerts perhaps) to support these high priced vendors is that their comments read like perfect marketing material............
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Old Mar 2, 2009, 4:16pm   #24
Joined Dec 2003
Also, unfortunate name, Crook, especially one offering services in the cesspool online FX world.............
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Old Mar 2, 2009, 4:54pm   #25
Joined Feb 2009
jack crooks is a crook heres the proof

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Originally Posted by Depth Trade View Post
? $2,500
I don't get it, is the joke on me?
Go to 'classic fx' in 'forex recommendations'.
check this out http://www.sec.gov/litigation/admin/...525.pdf:frown:
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Old Mar 2, 2009, 5:32pm   #26
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Quote:
Originally Posted by anley View Post
One thing that always amuses me about many of the first time posters who come out of nowhere (Google Alerts perhaps) to support these high priced vendors is that their comments read like perfect marketing material............
Thank you for your praise of my writing ability. Too bad I don't get paid for it.
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Old Mar 2, 2009, 5:47pm   #27
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Quote:
Originally Posted by chrisbow View Post
Its rubbish log on to this web page it will blow your mind and answer ALL your questions
REMEMBER jack crooks is part of Weiss group i have lost $200,000 in less than 6 months o Weiss option alerts and Jack Crooks world currency option alerts .
Read the court case.
It is unfortunate that you lost so much. What portion of your account did this represent? Would you share your risk management plan with the forum?
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Old Mar 2, 2009, 5:52pm   #28
Joined Feb 2009
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Originally Posted by JTM View Post
It is unfortunate that you lost so much. What portion of your account did this represent? Would you share your risk management plan with the forum?
I WILL WHEN MY LEGALS LET ME
DID YOU LOOK AT THE WEB PAGE?
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Old Mar 2, 2009, 6:09pm   #29
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Originally Posted by chrisbow View Post
There is no reference to Jack Crooks in this litigation. On what basis do you say Crooks is "part of Weiss Group"? Weiss may be marketing the service but that doesn't mean the service is dishonest. Virtually all investment advisory services are over hyped by the marketers, to be sure. Any new service should be paper traded only until you are satisfied that it gives you an edge on the market. There is no "Holy Grail" in trading - any service or system will have losing trades and drawdowns, which is why risk management is vital to your financial health. A good trader takes responsibility for his trades, a poor trader blames his tools.
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Old Mar 2, 2009, 6:35pm   #30
 
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Yeap.. There is no holy grail... You lose what you lose, and if you lose too much then tough, you probably took on too much risk. And lets face it Chrisbow, risking such large amounts based on a newsletters advise, wasn't perhaps the cleverest thing to do.
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