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Andrew Keene and Ichimoku Cloud
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Andrew Keene and Ichimoku Cloud

  #1 (permalink)
Elite Member
Tampa, FL
 
Futures Experience: Advanced
Platform: NT, SC
 
Posts: 44 since Jun 2010
Thanks: 10 given, 32 received

Andrew Keene and Ichimoku Cloud

I just sat in on a webinar at TraderPlanet with this guy, Andrew Keene, a former CBOE options maker. I just wanted to give some feedback on that for others.

It was quite likely the most misleading webinar I've ever attended - and we're talking from 1,000's. If you listened to it - or didn't - the whole webinar was about the power of his "Secret Weapon", the Ichimoku cloud indicator that he'd discovered while venturing through Thailand, and which was the key to his success (after having blown out here before going over there). He does claim to share statements and showed some, so it's possible that he is successful.

BUT, the presentation was all about how all the attendees (seemingly from all different markets and styles) could use the cloud and cloud alone to successfully trade. The reality is this should have been labeled, "How to use advanced options strategies in combination with earnings, news, unusual options activity and once in a blue moon the Ichimoku Cloud."

If one goes to the below page which shows several dozen of his trades from 2012, you'll see that they fall best under my description. Though this was over a year ago, this was after he had come back with this supposed secret weapon, and he did cite it once, so presumably it's the same trading that he's doing today.
KOTM Trades of the Week | KeeneOnTheMarket.com

Out of the top 25 trades on that page (I finally stopped there) there was 1 - ONE - reference to the "Secret Indicator" that he did the webinar on, and that he had led people to believe was all one needed to trade successfully. And which was responsible for his success. About 1/3 of the trades referenced earnings, another handful unusual options activity, another handful news reports or the Greek Elections, and then about another 1/4 to 1/3 didn't give any reasoning at all.

Clearly, to trade as he did, one has to be a master options trader. That's what should have been pitched (if one were being honest) today. Pitiful... Truly, pitiful.

I'm just glad I did some due dillegence before paying him any money. There are going to be a LOT of disappointed people who did buy his schtick.

From a review of his book I came across online: "I did not expect nor did I get strong trade setups, but the generalities did give me a few ideas to think about. To become a well versed traded in Ichimoku, it will take a lot more information than is provided here which is why I expect that 40% of this book is dedicated to other products that you can buy from Andrew."

So I imagine his strategy in the webinar was: he has a service(s) that he sells, so he was trying to rope people in with a small $99 course charge - again promising that it would be all you'd need - and then one will find, "But wait, there's more! If you really want to maximize your profits..."


Last edited by GreatDane; February 12th, 2014 at 09:26 AM. Reason: additional info
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  #3 (permalink)
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Platform: ToS, SC, Jigsaw
Favorite Futures: Index and Energy Futures, Forex, Options
 
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JackJ View Post
I just sat in on a webinar at TraderPlanet with this guy, Andrew Keene, a former CBOE options maker. I just wanted to give some feedback on that for others.

It was quite likely the most misleading webinar I've ever attended - and we're talking from 1,000's. If you listened to it - or didn't - the whole webinar was about the power of his "Secret Weapon", the Ichimoku cloud indicator that he'd discovered while venturing through Thailand, and which was the key to his success (after having blown out here before going over there). He does claim to share statements and showed some, so it's possible that he is successful.

BUT, the presentation was all about how all the attendees (seemingly from all different markets and styles) could use the cloud and cloud alone to successfully trade. The reality is this should have been labeled, "How to use advanced options strategies in combination with earnings, news, unusual options activity and once in a blue moon the Ichimoku Cloud."

If one goes to the below page which shows several dozen of his trades from 2012, you'll see that they fall best under my description. Though this was over a year ago, this was after he had come back with this supposed secret weapon, and he did cite it once, so presumably it's the same trading that he's doing today.
KOTM Trades of the Week | KeeneOnTheMarket.com

Out of the top 25 trades on that page (I finally stopped there) there was 1 - ONE - reference to the "Secret Indicator" that he did the webinar on, and that he had led people to believe was all one needed to trade successfully. And which was responsible for his success. About 1/3 of the trades referenced earnings, another handful unusual options activity, another handful news reports or the Greek Elections, and then about another 1/4 to 1/3 didn't give any reasoning at all.

Clearly, to trade as he did, one has to be a master options trader. That's what should have been pitched (if one were being honest) today. Pitiful... Truly, pitiful.

I'm just glad I did some due dillegence before paying him any money. There are going to be a LOT of disappointed people who did buy his schtick.

From a review of his book I came across online: "I did not expect nor did I get strong trade setups, but the generalities did give me a few ideas to think about. To become a well versed traded in Ichimoku, it will take a lot more information than is provided here which is why I expect that 40% of this book is dedicated to other products that you can buy from Andrew."

So I imagine his strategy in the webinar was: he has a service(s) that he sells, so he was trying to rope people in with a small $99 course charge - again promising that it would be all you'd need - and then one will find, "But wait, there's more! If you really want to maximize your profits..."

i tried a two week trial of his live trading room. it is practically a pump and dump scheme imo. he buys 100-200 lots, the room members follow, he gets the vol pump, starts dropping them off at 10-15 cent increments, and after two or three days if they don't start moving, he dumps them all. he does not care about ichimoku (although he frequently says he likes to take trades that are above the cloud/or below the cloud only). james is pretty decent and he will explain anything that is asked. especially any earnings questions.

btw for disclaimer, i am not a newbie options trader who couldn't get on the bus fast enough while in the room. I have been trading options for a while now, on a part time basis as i have a full time job.

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