John Locke worth paying?

C83

New member
I've watched a bunch of the John Locke trading videos. He makes them looks really good. However, his classes are very expensive.
They are all between $1000-$3000.

Anyone feel these are worth the investment? I guess, would be more inclined to pay $3k for everything but each one has its own fee.
I'm not an expert but not a newbie either. Been trading for 15 years and have watched hundreds of hours of video on options trading.

Thanks for any advice.
 

status1

Active member
He makes them looks really good
I agree with that but you would expect that from an expert but would taking the classes make you an expert I am not sure about that
Sure you can set up the trade but when the market goes crazy would you be able to make the right adjustment on your own at the right time ?
I would say probably not, at least not until you have traded for a long time and would know intuitively what to do

Having said that you can still use some of the concepts from his videos and adapt it to your style of trading
I used his simple Bull trade for example which is similar to the Parking trade which works pretty good although I am using it weekly instead of monthly The other trades are too complex for me to be watching it all the time and make the right adjustments
I try to keep it simple and try to make the least amount of adjustments in a relatively short (weekly) time frame
 

MamaCash

New member
John Locke has some great trading strategies but I don't think it's worth paying for his monthly membership fee in addition to very expensive classes.
 

Chuck Moore

New member
Gold Member
I bought John Locke’s Bearish Butterfly and M3 programs about 8 years ago and had limited success, but I learned a lot. At the time John was still growing and learning as a trader. I’ve kept up with him over the years and listen to his weekly Winning Trades and any other Webinar he may make public and continued to learn.

He has grown a lot over the years and as such has continued to tweak his approach to take into account the Market conditions and adapt his strategies as appropriate. His latest release (developed in 2019) is the SPX based X4 program which, although expensive, is very comprehensive. After watching his weekly updates which included X4 examples periodically and observing how it was performing, I bought the program 6 months ago and have been very pleased with the results. It is very thorough and covers a lot of material about how to evaluate the Market with Technical Analysis and Volatility Analysis and use that info to add subjectivity to his 3 X4 strategies.
 

Ignatz

Member
Aeromir Expert
I didn´t bought any program of Locke, i bought Ron Bertinos course (STT and Black Swan Hedge)
There were still some aspects i didn´t like (fat tail risk etc.) that´s why i made my Schwalbe trade and updated it 2 times (last change Nov 2020).
It´s running pretty well, as Tom said: "the best performing trade alert service at Aeromir and nearly 50% of the time requires no adjusting".
 

C83

New member
I didn´t bought any program of Locke, i bought Ron Bertinos course (STT and Black Swan Hedge)
There were still some aspects i didn´t like (fat tail risk etc.) that´s why i made my Schwalbe trade and updated it 2 times (last change Nov 2020).
It´s running pretty well, as Tom said: "the best performing trade alert service at Aeromir and nearly 50% of the time requires no adjusting".
Can you provide some details on the schwalbe trade? I'm new here so not sure what or where to look. Thanks.
 

Rich

New member
Gold Member
My assessment is that John Locke is a swing trader who uses butterflies. I had coaching and classes from John about 8-10 years ago. It was helpful, but back then it was expensive. His butterfly strategies require a LOT of adjustments, usually everyday, even the "well-hedged" strategies like the M3. I don't consider swing trading "income trading" if you have to make adjustments nearly every day. You MUST be masterful at execution to overcome commissions drag, and every adjustment costs you potential profit. Most of his trades really require you to put a lot of capital at risk or hold it in reserves just in case it is needed (max capital $55,000 for a triple bearish butterfly). Since he teamed up with SMB, many of his strategies lost their edge because SMB big money volume and the SMB pirate army capitalized on his strategies and washed out the edge and make many of the strategies hard to trade. (I've commented about this elsewhere in this forum.) That's one reason why john constantly develops and introduces new versions of butterfly "income trades" (he has 100s of proprietary trades he's named (like "M3, M9, M21").
 

Chuck Moore

New member
Gold Member
C83, It seems most of the comments are historical perspectives that are not relevant to what JL is doing today and are not reflective of my current experience. Of course JL is not the second coming.....there is no such thing as a Holy Grail for trading. Rather than go back and forth addressing comments Tit-for-Tat, I would be happy to discuss this on the phone. My email is [email protected]. So if you want to discuss in more detail, send me an email with your contact info and we can schedule a call. If, not problemo! Chuck
 

Marcas

Active member
Are JL courses worth the money?

It depends.

For entry lever trader to purchase such course may look like a viable shortcut to learn art of trading. I suppose each of us was there: “if only I study that material really hard...”

JL is a very good marketer. He intelligently tells new traders what they want to hear. In opinion of many (that i’ve heard) his material is quite good.
I have never purchased any class from him but I was close. He chained courses such a way that to get what I was interested in, I’d have to pay way, way to much - even if I expected some good coming out of this. So, I stayed for a while with what JL make publicly available.

I do like his general approach to learning but noticed when it comes to details all the great ideas are lost somewhere.

I also get bad habit of treating back-testing as a primary learning tool form him. Well, it wasn’t only JL. Most of traders I was in contact with were talking BT, so I thought it was a settled matter.

In short, I agree with non recommendation but again I didn’t get any paid course from him.
My opinion is not about JL in particular but all courses of this sort. I bought couple of those and today I think I’d be better of if I didn’t.

On the other hand I listened to JL’s late presentation on Round Table and was positively surprised with what he was saying. Seems that he really changed his focus on what is important and turned away from ‘slogan teaching’. Of course he wont say his past teachings weren’t that great, but I see old axioms cracking (BT, probabilities and so on). I didn’t follow through and don’t know if he keeps on that path. Absolutely, he made progress and indeed it may be beneficial to listen to him today.

All depends on one’s expectations. If somebody seeks a trade that makes money over long time and is not willing, or have no time, or have no knowledge even how to start… hmm, there are other, cheaper options, I'd say. What do you expect? After so many years of trading an listening all those hours of courses do you hope to find some new trading secret? Most likely you’ll hear old concepts wrapped in new words and adapted to today’s markets, seasoned with fashionable indicators.

Here, on Aeromir, you have some options too. I’d take a closer look at Flex Trade. I don’t know much about it but like how Dave presented it when starting service. This is a service, not a course and you have to put some effort to extract importants to learn, but there is no other way - unless you do like jumping from course to course.

There is another one available on Aeromir and this one I do recommend. It’s Ali Pashei’s series. I purchased couple lessons to see if what I thought is true and I can write a recommendation. Still you have to cut through that crap with OOZ, UUZ, whatever. But again, it’s not enough just to sit through the classes. I don’t know the whole course, only few sessions. His style my not fit you. Good thing is you can sample it and decide later.

I suppose JL’s courses are in the ‘better’ category in options education. They are also relatively expensive. Are they worth the money? It depends. For me – not. You are not me. You may like them and benefit handsomely. Just don’t let any courses to substitute for your tradrer-thinking.
 
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Tb2018

Member
I agree 100% with Marcas!
Plus the real risk is to get the "bad habits" so hard to correct later on...
Remember also that all this sort of Broken wing Butterfly type of strategy where used in a running bull market (with few dives.)
All the the same kind of "traders gurus...going into selling this "INCOME STRATEGY" to the masses,with great marketing skills more than
anything else.
Before this with a sideway market the "gurus"of the time (all great backtesters!) where selling The magic IRON CONDOR!
So buy some good fundamentals BOOKS instead and save your time and money...Trading is not easy and you have to have a
special attitude to deal with stress and risk!
One day I will start a educational service on how to be a great dentist,doctor,plumber,or else.......!

Happy trading
 
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