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Andrew Keene and Ichimoku Cloud


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Andrew Keene and Ichimoku Cloud

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  #1 (permalink)
 GreatDane 
Tampa, FL
 
Experience: Advanced
Platform: NT, SC
 
Posts: 52 since Jun 2010
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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..."

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  #3 (permalink)
 haljordan 
LA, CA USA
 
Experience: Intermediate
Platform: ToS, SC, Jigsaw
Trading: 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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  #4 (permalink)
 bopwillie 
Nashville Tennessee/United States
 
Experience: Advanced
Platform: Ninja Trader
Trading: CL, ES, NQ, GC
 
Posts: 33 since May 2012
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I spoke to Andrew personally and he assured me that this Magical Master Triple Confirmation indicator would work on all markets: stock, futures, options, etc. I specifically asked about the futures markets and its use. I was told that "Oh, yes, it works on futures markets like all others!" Yes, I fell for the BS and gave him $ 299 for a piece buffalo dung!! This indicator does NOT work in the futures markets unless you want to enter a trade far, far, far late!!!

Do not buy it!!!! Save your money and use it for a second contract. Odds are greater that you will win more that way than an auto-loss by buying it!!!

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 aircal 
Keller, TX USA
 
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"Don't miss the next magic beans webinar - it won't be recorded!". But there will be another one next week...


Sent from my iPad using futures.io mobile app

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  #6 (permalink)
 bopwillie 
Nashville Tennessee/United States
 
Experience: Advanced
Platform: Ninja Trader
Trading: CL, ES, NQ, GC
 
Posts: 33 since May 2012
Thanks: 8 given, 50 received


aircal View Post
"Don't miss the next magic beans webinar - it won't be recorded!". But there will be another one next week...


Sent from my iPad using futures.io mobile app

Yep, here it comes again fair traders. And you can bet that the same notice will be given: We're only selling 200 of these indicators. Get out your CC cause these will sellout fast.

Beware, traders!!!

thebopman

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