# Jake Bernstein



## lukeaye (22 October 2009)

Hi guys,

Last night i was exposed to a fellow by the name of Jake Bernstein. He is a mechanical trader, who works on probabilities and expectancies. Has anyone had any experience with this fellow? 

I do not wish to give my opinions yet, as i want this to be as objective as possible.

Opinions please


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## brty (22 October 2009)

*Re: Jake Berstein*

Jake Bernstein, there is an 'n' in there, has been selling books/systems/courses for years and years.

Is it any good? I don't really know, other than saying that some people tend to get rich by selling information, while others do better by trading. Personally I am not a believer in mechanical trading systems. They can do well in some market conditions and fail completely in other conditions. I'm sure the ones that any 'educator' wants to sell you, show a remarkably good performance, but believing everything you see is for the gullible. 

brty

PS. Just saw that  he is coming to Melbourne to run trading seminars. Would I go if I had free tickets?? NO, my time is too important to waste on such nonsense.


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## WaySolid (22 October 2009)

*Re: Jake Berstein*

I left early.

I will mention a few ATAA presenters that I have really enjoyed after their talks in Brisbane. Grant Sinclair, Colin Nicholson.. Also like Jim Berg and Alan Hull. 

I think at some point it makes sense to cap at say a hundred dollars or two the spend on education presenters, especially if you are a newer player.

Just my thoughts.


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## plankton (22 October 2009)

*Re: Jake Berstein*

His books are all right , like anything though you pick through and take what you want that suits your style.


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## lukeaye (22 October 2009)

*Re: Jake Berstein*



plankton said:


> His books are all right , like anything though you pick through and take what you want that suits your style.




Yes but why is he good or why isn't he? Can we elaborate on our answers as to why he is good trader/teacher or why he isn't?

I'm really after a critique of him more then anything. Personally i think his methodology is quite good, but his presentation was very dangerous, inviting people to loose money even. This way you would have to seek his servies


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## Kash Kosmo (22 October 2009)

*Re: Jake Berstein*



lukeaye said:


> Yes but why is he good or why isn't he? Can we elaborate on our answers as to why he is good trader/teacher or why he isn't?
> 
> I'm really after a critique of him more then anything. Personally i think his methodology is quite good, but his presentation was very dangerous, inviting people to loose money even. This way you would have to seek his servies




The only impartial thing I can offer is this very small Wiki page about him 

http://en.wikipedia.org/wiki/Jake_Bernstein

In the words of the South Park Policeman - OK folks nothing to see here.

KK


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## lukeaye (22 October 2009)

*Re: Jake Berstein*



Kash Kosmo said:


> The only impartial thing I can offer is this very small Wiki page about him
> 
> http://en.wikipedia.org/wiki/Jake_Bernstein
> 
> ...




Not being rude, but i said can somebody please elaborate, i dont care where he was born or how many children he has, or even his birthday.


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## Kash Kosmo (22 October 2009)

*Re: Jake Berstein*



lukeaye said:


> Not being rude, but i said can somebody please elaborate, i dont care where he was born or how many children he has, or even his birthday.




You are not rude lukeaye, however before this post I had not heard of him 
So I did a search & my deduction is 
If this fellow has had notable life achievement's apart from the major one of author. It would have been noted in the Wiki 
Just an honest observation 

KK


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## lukeaye (22 October 2009)

*Re: Jake Berstein*



Kash Kosmo said:


> You are not rude lukeaye, however before this post I had not heard of him
> So I did a search & my deduction is
> If this fellow has had notable life achievement's apart from the major one of author. It would have been noted in the Wiki
> Just an honest observation
> ...




Im sure there are many people who have done noteable work who arent on wikki! 

Thanks for your input though kash kosmo, after the seinfield character?


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## professor_frink (22 October 2009)

lukeaye said:


> Hi guys,
> 
> Last night i was exposed to a fellow by the name of Jake Bernstein. He is a mechanical trader, who works on probabilities and expectancies. Has anyone had any experience with this fellow?
> 
> ...




had read a bit of one of his books. Didn't even get a quater of the way through it. Can't say I was overly impressed.


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## wayneL (22 October 2009)

I can get his newsletters from one of my futures broker... in fact you can too.

Here is a couple of links

Jake Bernstein's Weekly Commodity Trading Letter and Special Reports
http://69.176.104.70/research/topresearch/jbernstein.cfm

Jake Bernstein's Weekly Futures Picks
http://69.176.104.70/research/topresearch/jbernsteinWF.cfm

Courtesy of www.orionfutures.com

PS I don't read them


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## Matrix (22 October 2009)

Hi folks,

Yep, I also went along to Fitzy's in Loganholme last night and stayed to the end from the beginning including one of the earlier talks which was pretty basic but also good as I got a couple of things out of that earlier talk too.

I did enjoy hearing Jake speak, at first I was a little worried when he kinda says throw everything you know about TA out the door and get it back to basics, but after a while he gets on a roll then makes some very good points about trading in general (after 40 years, so he should) and does provide proof of results to such trades as in what percentage of a trade will work to back up his statements.


Why I enjoyed the talk would be:

Jake also is a psychologist and clearly works with and around the market psychology as well as the trader psychology.

Pointing out that many beginner, intermediate and experience traders are actually making it more complicated than it has to be. Now I can agree with this even though I can also agree with the need for understanding these other indicators or trading tools.

So there is a couple why's and there are few more but none that come to mind atm except that he would make ya think a bit more outside the box and take a more simplified approach.

There were a few things I seemed to have missed or I am not sure if he just never stated what these few things were.

ie: I was confused a bit when goes on about not needing to use indicators as such, yet he has a pair of indicators (moving averages?) running down his shorts on his chart, or up on his longs, and he never actually said what values those were.

Does anyone know what values he said they were exactly, or if he actually did say what they were???

There was a couple of tips about when trading futures and doing particular trades every year which was from the 27th Oct to Nov1   or  the 28th Oct to Nov 2 or 3, depending on what day falls on what of what year. And also with the gold tip for Dec. 

Can also agree that his methodology very good, but his presentation was very dangerous, but he actually did point out this at the beginning that it may shock some and leaves that thought with the listener to either to chose accordingly.

Can also agree with we take what we need from it and build on our skills or knowledge.

Either way, I'm happy and look forward to the next event.

Cheers~!


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## lukeaye (22 October 2009)

Hi matrix.

Let me explain why his method won't work for you.
The moving average he used was a 8 day SMA open and an 8 days SMA close. 

Now this is the exact problem, and why his speach is so dangerous. 
I GAURENTEE you those moving averages will not work on whatever you try. And here is the reason why, and what he didnt tell you. 
These numbers are dynamic. They apply at different times, different time frames, and different stocks to varying sucess. Now its not that he doesnt know this, its that he doesnt want you to know that. This is because he wants you to try it and not work for you. This way you have to pay him for his advice.

You have to optimise your own settings on your own stocks in the timeframe you want to trade. There will never be one combination that works.

My second point is this. Those "Tips" he gave you will probably fail as well. At the start of the speech he stated 

"You can throw away all the indicators and patterns you have learnt in the past, as they no longer work or apply"

Excuse me? Your mechanical systems are based on historical price movements? Is that not a "pattern"?

I also noticed that his buy on oct 27 sell nov 11 strategy had an expectancy over the last 30 years of 87%. Did anybody care to look at the success rate over the last 3 years? 33%? So his rant about previous price patterns not applying also applys to his systems?

Notice he kept giving you all these set-ups? but he gave no triggers? What is the trigger? I can give 2000 set ups right now, but you won't make a cent if you dont know what the trigger is. Once again he wants to you trade his "set-up" but not know the trigger so that you have to pay for it.

I think he is just another poster boy, trying to make a quick buck. And i am quite frankly sick of them. Clever marketers that exploit people out of the hard earned money.

They all promise the secret. Now let me tell you the secret. There is no secret. Its hard work. And unfortunately people will always want short cuts.

There i've said my piece. Sorry to offend any pro small, ecentric, stocky californian douches.


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## Kash Kosmo (23 October 2009)

The secret is out 
Americans are masters of self promotion  for self gain 

I just wish they would take a breath between sentences 

KK


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## kam75 (8 November 2009)

his book The Investor's Quotient: The Psychology of Successful Investing in Commodities and Stocks is a useful read.


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