Jack Crooks

This is a discussion on Jack Crooks within the General Trading Chat forums, part of the Reception category; Has anyone used Jack Crooks System? I've read about his credentials and he sounds legitimate, but his service is $2500. ...

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Old Aug 24, 2008, 3:34pm   #1
 
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Jack Crooks

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
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Old Aug 25, 2008, 2:27pm   #2
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I've read some articles Crooks has written on the forex market and strategies for trades - though nothing specifically from his "System". To say that I've been totally unimpressed is being very kind.

If, as you say, you don't want to spend time researching, I suggest you turn your attentions somewhere away from trading. Failure to put in the work learning about things is a virtual gurantee of flushing your money away. Even if it's your intention to get strategy recommendations from someone else, you need to know enough to 1) know if that person is credible and 2) know if their particular methodology suits your needs.
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Old Aug 25, 2008, 3:17pm   #3
 
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Learning Forex

janieg started this thread Thanks for your reply John. I know what you're saying and I know I need to educate myself. I could probably consistently spend 1-2 hours per day researching. Is that sufficient or does trading on forex require something akin to a full work week? Why are there no books on Forex trading at Barnes and Noble or Books A Million? Has forex trading just recently been opened to the common man? I've been researching on the net trying to find a way to learn it. What do you suggest for someone who's green??
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Old Aug 25, 2008, 4:19pm   #4
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Retail forex has been readily available for nearly a decade now. There are loads of books on the subject. Do a search on Amazon or the B&N website and you'll probably be overwhelmed by the options. Some are better than others, of course. There are threads here in this forum which discuss good ones.

As for research time, 1-2 hours a day is fine. Only you can determine the timeframe you should be operating in. Day or full-time trading is for some, but not for most. Part-time trading is perfectly acceptable and can be just as profitable.
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Old Oct 29, 2008, 4:36pm   #5
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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
I have been using Jack Crooks' World Currency Options service since July. This is a much safer way to get involved in foreign exchange trading than Forex because, with options, you can never lose more than the cost of the option.

To date I have completed 23 trades. My account is up more than 150%. 69.6% of the trades have been profitable, with a profit/loss ratio of 4.9. The average holding period was 25 days. The average gain was 89% (the highest 277%), the average loss was 56.3%.

As with any trading, risk management is key. These options are not highly liquid, so I do not reccommend using stop loss orders. Control your risk by not investing more than about 10% of your account value in any one trade. (You can expect to have 0-3 trades open at a time) This will limit your losses to 5% or so of your account so you do not get blown out if it gets choppy.

I couldn't me more satisfied with this service. Highly recommended!
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Old Oct 29, 2008, 5:45pm   #6
 
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I couldn't me more satisfied with this service. Highly recommended!
Spot the freudian slip
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Old Oct 29, 2008, 6:48pm   #7
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No slip, just an answer to the original poster's question. The only answer so far, by the way, because none of the other replys are from someone who has actually used the the service in question.
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Old Oct 29, 2008, 6:54pm   #8
 
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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
? $2,500
I don't get it, is the joke on me?
Go to 'classic fx' in 'forex recommendations'.
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Old Oct 29, 2008, 7:10pm   #9
 
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Got to agree with Rody - there's no shortcut in this game and even if you attend his course you will still need to work and practise what he's taught you.

Anyway would you really hand over $2,500 to a Crooks?
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Old Nov 7, 2008, 2:13am   #10
 
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I would highly recommend Rob Booker if you are a beginner. His alert service is $49 per month and the man is a high powered winning machine. You can also pay $1,000 for a lifetime membership to his 1-on-1 training where you will get daily chart school webinars.

Not sure about Jack Crooks, although somehow I must have subscribed to his FX University Daily emails. Pretty good read. Don't know what you'll get for $2,500 but I bet it isn't any better than what you get for half of that with Rob Booker.

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