Jacko's Forex House of Pleasure and Pain | Page 84 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Chicky's House of Pleasure and Pain 11 replies

Carry Backet w/ Jacko's AH 10 replies

Hello Guys is a pleasure to be here. I'm new to MT4 1 reply

Jacko's P&P Trend Trading Method 73 replies

Attachments: Jacko's Forex House of Pleasure and Pain
Exit Attachments

Jacko's Forex House of Pleasure and Pain

  • #1,661
  • Feb 15, 2008 12:40pm Feb 15, 2008 12:40pm
Quoting zoopy
I always hide lol. I started a journal on here too now. I'm using one technique I picked up from a video you sent me a while back for support and resistance using a line chart to spot peaks and valleys. Not sure how that'll turn out but it'll be interesting to see.

Adrian
Is it a public journal ???


Av
  • #1,662
  • Feb 15, 2008 1:00pm Feb 15, 2008 1:00pm
Quoting Avatar73
Is it a public journal ???


Av
Yes, just go to the forums then journal section and do a search on zoopy's trade journal.

Another thing I should point out for those that will be reading my journal, my journal does NOT reflect the exact trade that Jacko makes. His stops will also vary from mine but I won't get into that since that's more private group material. I'm simply using his methodology and learning to implement it.


zoopy
  • #1,663
  • Feb 16, 2008 6:43pm Feb 16, 2008 6:43pm
Quoting wattawatta
My first trade as a new member of Jackos second group and am I am over 150 pips in profit on just my first trade. WOO HOO, ALRIGHT.
I bought at 1.4505 as recommended by his blog and I have a minimum of 100 pips locked in the bank. WOO HOO
I think I did good with joining his group.

I WILL be an AWESOME trader.

Where is that tdion person? I might lend him some money now.
Hi wattawatta,

Good work...it is always nice to start with a win.

But go here: http://hobbes.ncsa.uiuc.edu/desiderata.html

.
  • #1,664
  • Feb 17, 2008 10:25am Feb 17, 2008 10:25am
HI,
how can i join ur group? thx
  • #1,665
  • Feb 17, 2008 1:21pm Feb 17, 2008 1:21pm
Sorry Goodness, please see post #1650, the group is closed at this point.
I was one of the lucky ones to have been around when the initial offer was made.
Jacko stated;
"I am purposely trying to keep the groups very small so that I can service them properly.

Unfortunately, this also means that some people miss out. I apologise for that."

But read through the entire thread if you can, Jacko has been extremely generous and has explained his methodology many times. You will not be disappointed.
There are also many helpful members here that can keep you on the right track.
Look for the 50% retracements at round numbers that hit your trendline, buy on the dips. The 4hr chart is a good place to start.
good luck!
Camptrader
  • #1,666
  • Feb 18, 2008 2:05am Feb 18, 2008 2:05am
Quoting goodness
HI,
how can i join ur group? thx
Hi Goodness

Please contact me on waynejackson1955 at yahoo.com

Prove to me that you are serious, committed and REALLY, REALLY, REALLY want to be successful in forex trading.

Thanks


Message changed to modify email address to stop those #***** spammers

.
  • #1,667
  • Feb 20, 2008 8:21am Feb 20, 2008 8:21am
I am feeling really chuffed at the moment. I am very proud of our little group.

We closed out ALL our buys (1.4521's and our 1.4612's) at around 9.00pm NY time at 1.4725 for very nice profits.

Some of the group also took my expression that the market "feels heavy. I am closing all my positions and will (hopefully) buy again lower later" as an opportunity to reverse and short the market as soon as they closed out all their buys.

They are doing very well.


.
  • #1,668
  • Edited 10:25am Feb 20, 2008 8:53am | Edited 10:25am
Hi Jacko!

I'm still catching up all the posts you've written on your blog (I'm at message nr. 30... I thought it would go quicker, but I have a chart open next to your posts and I make sure I learn as much as I can while reading) and as far as I've read, this is the BEST thing ever!

I'm going live in late March (I'm waiting some funds to be transfered to me) and until then I'll stick to learning about your method, about the platform I'm going to use and I'll demo trade just the same way as you do.

I'm happy, I'm excited and I'm thankful!

Oh, btw, it's me, Henrik. I've changed my nick from "Treehugger" to "hendrix". This is going to be my standard nick here, as it is everywhere else.

And if any newbies to this thread are reading this - do yourself a favor and read the whole thread! You won't regret it!
  • #1,669
  • Feb 20, 2008 3:16pm Feb 20, 2008 3:16pm
Quoting jacko;186113<br /> <br /> Some of the group also took my expression that the market [COLOR=blue
"feels heavy. I am closing all my positions and will (hopefully) buy again lower later"[/color]


.
What does it mean that the market feels heavy?
I also want to find out what does "weak market" look like, is it that the bars are short or the close of the bars are well below the high? Thanks in advance
  • #1,670
  • Feb 20, 2008 10:05pm Feb 20, 2008 10:05pm
Quoting jacko
I am feeling really chuffed at the moment. I am very proud of our little group.

We closed out ALL our buys (1.4521's and our 1.4612's) at around 9.00pm NY time at 1.4725 for very nice profits.

Some of the group also took my expression that the market "feels heavy. I am closing all my positions and will (hopefully) buy again lower later" as an opportunity to reverse and short the market as soon as they closed out all their buys.

They are doing very well.


.
Jacko, you are something SPECIAL.

Guys, Read everything that Jacko has written. And make money. If you can join his group, DO IT. And make more money.

I am going to be an AWESOME trader. WOO HOO. I am on my way!
  • #1,671
  • Feb 21, 2008 5:08am Feb 21, 2008 5:08am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Fxtrader
What does it mean that the market feels heavy?
I also want to find out what does "weak market" look like, is it that the bars are short or the close of the bars are well below the high? Thanks in advance
i'm sure jacko will share his view on this, but here's mine.

as a technical trader i'm not into(still learning) fundimental influencies, so for me it's about Tl's and candle patterns.

to see this open a 4h chart and apply 2 TL's one above the current long and 1 in support of the current move (creating a trend channel), if you then look at the candles that touch the tl's you will notice that they have spikes/shadows and the open and close area's are inside the 50% of the candle furthest away from the TL i.e. a candle touching the top/resistance tl will have a spike touching the line but the open and close will be in the bottom half ish of the candle.

hope this helps - can't access charts today, but will try to follow this up tomorrow.
  • #1,672
  • Feb 21, 2008 5:20am Feb 21, 2008 5:20am
Quoting MPP
i'm sure jacko will share his view on this, but here's mine.

as a technical trader i'm not into(still learning) fundimental influencies, so for me it's about Tl's and candle patterns.

to see this open a 4h chart and apply 2 TL's one above the current long and 1 in support of the current move (creating a trend channel), if you then look at the candles that touch the tl's you will notice that they have spikes/shadows and the open and close area's are inside the 50% of the candle furthest away from the TL i.e. a candle touching the top/resistance tl will have a spike touching the line but the open and close will be in the bottom half ish of the candle.

hope this helps - can't access charts today, but will try to follow this up tomorrow.
Thanks MPP, I presume you are answering the second question (weak market)
  • #1,673
  • Feb 21, 2008 12:14pm Feb 21, 2008 12:14pm
[quote=hendrix;1861198]Hi Jacko!

I'm still catching up all the posts you've written on your blog (I'm at message nr. 30...

hendrix: is there a Jacko´s Blog (please link it) or you min these traed?

thanks. Fer
  • #1,674
  • Feb 21, 2008 12:30pm Feb 21, 2008 12:30pm
[quote=indio;1863554]
Quoting hendrix
Hi Jacko!

I'm still catching up all the posts you've written on your blog (I'm at message nr. 30...

hendrix: is there a Jacko´s Blog (please link it) or you min these traed?

thanks. Fer
Hi Fer

Hendrix is referring to the private blog. If you have any questions it's best that you post it here then Jacko can answer you or any one of the members of the group.


zoopy
  • #1,675
  • Feb 21, 2008 1:50pm Feb 21, 2008 1:50pm
[quote=zoopy;1863594]
Quoting indio

Hi Fer

Hendrix is referring to the private blog. If you have any questions it's best that you post it here then Jacko can answer you or any one of the members of the group.


zoopy

OK, thanks
  • #1,676
  • Feb 23, 2008 10:42pm Feb 23, 2008 10:42pm
Hi all

Below is a chart of my plan for early next week.

I intend to buy one lot at around 14783 level and then if it keeps going another at the 14764 level.

I'm hoping that price will go on to test and maybe break the 14950 level and keep going. I think i will probably take 50% at the 14950 level and trailing stop the rest with 50 pips

What do you guys think? Does it sound like a reasonable trade?

John
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 22 feb.PNG Size: 50 KB
  • #1,677
  • Feb 23, 2008 11:10pm Feb 23, 2008 11:10pm
Ok.

Things might not go my way. So if they don't then this is what i plan to do next.

Buy 1/2 lot at 14700 with 100 pip stop and if it keeps going down another full lot at 14650 with 50 pips.

I'll pick up one of the other stopped out trades on the way back up... @14750.

I'm not sure if i would take the other one that would have stopped out at around 14716.. it wouldn't be nice if it all went wrong... hmm.. what do you guys think?

Everything in life is a gamble. Some you win.

John
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd plan b.PNG Size: 50 KB
  • #1,678
  • Feb 24, 2008 1:28am Feb 24, 2008 1:28am
Quoting mjolimer
Hi all

Below is a chart of my plan for early next week.

I intend to buy one lot at around 14783 level and then if it keeps going another at the 14764 level.

I'm hoping that price will go on to test and maybe break the 14950 level and keep going. I think i will probably take 50% at the 14950 level and trailing stop the rest with 50 pips

What do you guys think? Does it sound like a reasonable trade?

John
Hi John

I was just reading through this post and there's nothing really relating to Jacko's method except the 50 pip trail but I noticed you're doing it only when you get to 1.4950?

Just based on reading your plan, it sounds like you're a little too eager to enter into this trade. One thing you must learn is that you shouldn't keep scaling into a losing trade. How about this... instead of entering at 1.4783, or even 1.4764 why not wait for 1.4750? OR... better yet why not see if you can get a much cheaper price at 1.4650 (if it reaches that low)?

Another point I would like to comment on is the 50 pip trailing stop. It's best to apply the trail from the beginning because it helps to protect you against losses. What if price doesn't go to 1.4950? Do you have a plan to protect yourself should the market do something unexpected?

btw, this is not a comment to pick you out in particular, just trying to help. Personally I don't see too much rationale in both your plan A and plan B. Plan B gives me the impression that if you lose on your first attempt, you're going to scale in further to try "get back" at the market. Be patient, buy when it's cheaper. Don't worry, the market will be there the next day if you miss a trade



zoopy
  • #1,679
  • Feb 24, 2008 3:06am Feb 24, 2008 3:06am
Thanks for the feedback Zoopy.

I think you are probably right. I'm being too eager. I just didn't want to miss the boat.

My intention was to trail all the trades and anti-hedge as appropriate in the Jacko method I was just looking for a way to get on board early i guess.

I guess taking 50% profit when the price equals the previous high is a bit off from Jacko's method? I would be so tempting to take some of the money off the table at that point though. (Assuming it got there.. )



However, given your comments, I think ill ditch the more agressive plan and look to get in at 14650 / 14700 area as you suggest.

ta

John
  • #1,680
  • Feb 24, 2008 4:53am Feb 24, 2008 4:53am
Hello friends,

I've posted a daily EUR/USD chart with major Support & Resistance levels (green lines), 2 most important 50% Fib levels (yellow lines) and 2 potential buying points (blue lines).

I'm still fresh to all of this but I study Jacko pretty seriously.

I believe that currently a valid option would be to wait for a retracement back to 1.4700, or even better, to 1.4650, before going long again. Alternative version is to wait if the pair goes above 1.4900 and then wait again for a couple of days to see what happens next. However, the Friday's candle is suggesting, that there was some indecision between buyers and the seller on where to go next.
Attached Image (click to enlarge)
Click to Enlarge Name: eur_usd_daily.gif Size: 21 KB
2 traders viewing now