Agreed with the previous review. Additionally, the main issue is that for a smaller account does not make sense to pay in advance a year of subscription. I had a similar experience explained in the previous review. My account was destroyed in a very short period of time after I joined the site. My responsibility for sure, although I follow the system pretty accurately.
The psychological damage was pretty substantial that I was over a year without trading.
JA
Jane
Dave Johnson is a good man and I…
Dave Johnson is a good man and I believe he really wants to help people make money. When he was with Investools he did a great job. Once he went out on his own, with noone to hold him accountable, he got into what he cautions his clients of as a scotoma (i.e., blind spot). When he turned a 100k paper money account into 3M with Investools, this was during the great bull market. His horizontal breakouts and bull flags worked like a charm. Since the Feb 2018 pullback, things have been much more volatile and his methods did not work anymore. He never changed his strategy under his belief that if you are disciplined and consistent, you will get your fair share of the winners. Well, that certainly didn't happen to me when I mirrored his methods. Not only did I not make up the cost of the tuition, but I lost tens of thousands of dollars. I am not writing this review to bash Dave. I am writing this review to caution others that his methods do not always work. When you buy at the money or out of the money short term calls that are highly leveraged, even though they are cheap (although not very cheap when volatility is high), if the price does not go up, you lose 50% if you use his stop methods (and if the theta decay doesn't eat you alive). This is like playing the tables in Las Vegas. The volatility and the trend must align for you to have an edge. Doing long call verticals helps combat the theta decay and cost of the trade but the price still has to go up for you to make any money. I never observed any kind of back testing in different market environments or journal tracking to quantify his success rate or expectancy. If you decide to subscribe to his service, keep these things in mind before you blindly follow him like I did. I believed in him from his track record with Investools and it was a great disappointment when things didn't work out for me with iBullyBear. I take full responsibility for my trading losses. One of my mistakes was blindly following another trader.
