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Jacko's Forex House of Pleasure and Pain

  • #281
  • Jul 13, 2007 8:52am Jul 13, 2007 8:52am
Jacko, want to thank you for your wisdom. I, in the beginning was one of those you've talked about who always was going against the trend.

Finally figure that I need to go with the flow and it has made the difference. I now look at BIGGER time frames and that makes for less stress.

Thanks for your insight.

P.S. tell the folks in Okinawa, Japan...hello. Was station there from 94-98. Great times in the Asia region...
  • #282
  • Jul 13, 2007 8:54am Jul 13, 2007 8:54am
Quoting smjones
The little dividends will not even come visit...
Touche
  • #283
  • Jul 13, 2007 8:01pm Jul 13, 2007 8:01pm
Quoting SeekingLight
It's not about trading EVERY day, it's about trading that ONE RIGHT DAY......You make money by waiting, not by trading. Sounds so silly nobody wants to believe it, but it's true.
SL, Because you have phrased this essential truth so very well, I've added it to my signature, with credit to you of course. Let me know if you'd rather I remove it.

Dial
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #284
  • Edited Jul 16, 2007 2:57am Jul 15, 2007 1:35pm | Edited Jul 16, 2007 2:57am
Quoting diallist
SL, Because you have phrased this essential truth so very well, I've added it to my signature, with credit to you of course. Let me know if you'd rather I remove it.

Dial

Hey Dial (and luqmanz as well),

feel free to use that quote

It's really just conventional trading wisdom, but a tough to come to realization. I mostly say these things in the vague hope that I might listen to myself one day, too

I also find it to be rather linked with what my favorite quote from your old signatures was, Diallist. I think it went something like "The only thing that seperates a/the losing traders from the winners is (only) the great wall of psychology".

Similiar to that at least. Basically: it's all in yer head!
The basic workings of profitability aren't hard(even though it seems like that to everyone), it's the actual doing it PROPERLY that is.
I just wanted to emphasize that with the post I made and basically just repeat what jacko(and others like Jim before him etc etc etc) has already said and pointed out.

I'll be honored to be carried in your sigs guys

Take care,

SeekingLight


P.S. smjones I really loved your story =) But I really hope it was only from your forex experience ;p
Trust price. Know yourself.
  • #285
  • Jul 15, 2007 1:44pm Jul 15, 2007 1:44pm
Quoting smjones
When I looked at your diversion chart, it instantly took me back to my wedding day 3 years ago. The day my wife (Trendy) and I were married, in front of the big Willow tree outside the house we bought to live in...

The years were good to my wife and I, we lived a life together and she was always there for me when I did the small stupid things men do.

And now here we are, right in front of me is the new sexy diverenge, and she is hot, with all her countertrend voluptuousness. Hum I think, it would not be so bad to have fling with her just this once. What could be the harm in spending some time with Ms Countertrend.

It turns out that is the one thing my wife will not put up with... Who knew?

So, you know how this ends, When Ms CounterTrend meets My wife Trendy at the TrendLine Spa, They just happen to strike up a conversation and, well one thing leads to another and it all comes out.

Now I am out sitting in the gutter on Market Street and Ms CounterTrend has moved on to other flights of fancy, and my ex wife Trendy Is enjoying the big home we built together and my new red corvette.

I have an appointment with the Property Manager at Loser Arms to see if I qualify for a Studio Apartment...
See what happens when you fight the trend! Mr. Trend comes along and scoops up Ms. Trendy...

Mmmm, she's so HOT.

Mr. Trend
  • #286
  • Jul 15, 2007 1:46pm Jul 15, 2007 1:46pm
Quoting Mr Trend
See what happens when you fight the trend! Mr. Trend comes along and scoops up Ms. Trendy...

Mmmm, she's so HOT.

Are you enjoying the Corvette? LOL

I hope people see what happens when ya mess with a trend...
  • #287
  • Jul 16, 2007 10:35am Jul 16, 2007 10:35am
Quoting jacko
Hi IRISH37,

Thank you for your kind words.

I am just trying to be useful around here and trying to help the young bucks to make a few dollars rather than losing a lot of dollars.

.


I have just come across this thread:
http://www.forexfactory.com/showthread.php?t=35982&page=2



I recommend that everyone read all the contributions by Trader888 starting at post # 26.

Excellent trading advice and perspectives for all traders.


.
  • #288
  • Jul 16, 2007 10:38am Jul 16, 2007 10:38am
Quoting jacko
I have just come across this thread:
http://www.forexfactory.com/search.php?searchid=1816850&pp=10&page=2

I recommend that everyone read all the contributions by Trader888 starting at post # 26.

Excellent trading advice and perspectives for all traders.
.


I believe jacko means this one:
How to be a trader for a company?

http://forexfactory.com/showthread.php?t=35982

This link should work.

However be aware that Trader888 talks a lot about "gut based trading" later on. I personally wouldn't advocate any of that sort...use your chart and what price is saying instead

His stories are great though
Trust price. Know yourself.
  • #289
  • Jul 16, 2007 10:45am Jul 16, 2007 10:45am
Quoting SeekingLight
I believe jacko means this one:
How to be a trader for a company?

http://forexfactory.com/showthread.php?t=35982

This link should work.

However be aware that Trader888 talks a lot about "gut based trading" later on. I personally wouldn't advocate any of that sort...use your chart and what price is saying instead

His stories are great though
Thanks SeekingLight,

I am a techno-moron. I have now fixed my post.

.
  • #290
  • Edited 10:47am Jul 16, 2007 10:45am | Edited 10:47am
Quoting jacko
I have just come across this thread:
http://www.forexfactory.com/showthread.php?t=35982&page=2



I recommend that everyone read all the contributions by Trader888 starting at post # 26.

Excellent trading advice and perspectives for all traders.


.
Hey Jacko,

I tried the link. Doesn't work. OOPS now on try 4 it suddenly does.
I sent you a PM sometime back.
This is a SIX STAR thread. Five is not enough.
  • #291
  • Jul 16, 2007 6:30pm Jul 16, 2007 6:30pm
Quoting SeekingLight
I believe jacko means this one:
How to be a trader for a company?

http://forexfactory.com/showthread.php?t=35982

This link should work.

However be aware that Trader888 talks a lot about "gut based trading" later on. I personally wouldn't advocate any of that sort...use your chart and what price is saying instead

His stories are great though
Yes, he advocated that, but I think gut-feeling is important if you want to be a superior trader. A trader need to develop that gut-feel slowly over time. Gut-feel can make almost any system incredibly profitable. One way to develop gut-feel is by learning one pair at a time.

Jacko,
What do you think about gut-feel? Any tips on developing gut-feeling ?
  • #292
  • Edited Jul 17, 2007 12:54am Jul 16, 2007 11:27pm | Edited Jul 17, 2007 12:54am
For discussion purposes does 'gut based' mean an educated guess?

Actually, an 'Educated Choice' is an even better term. As in " I have made an educated choice to go long". Or as Merlin might add, an educated choice to go flat.

Your 'educated choice' should be what gives you the edge.

So what constitutes your 'education' ?:

Trend identification

Price action studies

Price Range Probabilities

Fundamentals

fill in the blank ________

All of the above and more are mixing together in your conscious and hopefully in your subconscious (since that is where the ... A ha's develop).

It is odd that we say 'gut feeling' when maybe the idea really came from 'brain connections' ? From the countless bits of information that the subconscious continuously attempts to put together.

Just a thought


Lou
  • #293
  • Jul 17, 2007 9:05pm Jul 17, 2007 9:05pm
Quoting jacko
Hi FXHolic,

For a little while now, I have been setting up parallel accounts which are strictly "buy and hold" positions. These are in addition to my "trading accounts".

I had been waiting for a significant retracement before establishing the parallel accounts, and the May till mid June retracement was the one I had been looking for. This was a BIG punt that 1.3300 (approx) was going to be the bottom. I have been adding more positions, but at a reducing rate since mid-late June.


.

Update on my "buy and holds"

This has been one of my most profitable trading positions ever.
Also one of the least stressful.

500 pips in quick time...multiplied by USD10 per pip....multiplied by x number of standard contracts = A LOT OF MONEY.
The progressive additional contracts make it even nicer.

Outrageously simple way to make money !!!!!!


.
  • #294
  • Jul 18, 2007 12:57am Jul 18, 2007 12:57am
Quoting jacko
Update on my "buy and holds"

This has been one of my most profitable trading positions ever.
Also one of the least stressful.

500 pips in quick time...multiplied by USD10 per pip....multiplied by x number of standard contracts = A LOT OF MONEY.
The progressive additional contracts make it even nicer.

Outrageously simple way to make money !!!!!!


.
Jacko... I trade somewhat similiar to you, along with some automated systems that I use on futures instruments... glad to see you on here giving the new traders some good advice...

Best of luck to you.
Mr. Trend
  • #295
  • Jul 18, 2007 2:16am Jul 18, 2007 2:16am
Quoting jacko
Update on my "buy and holds"

This has been one of my most profitable trading positions ever.
Also one of the least stressful.

500 pips in quick time...multiplied by USD10 per pip....multiplied by x number of standard contracts = A LOT OF MONEY.
The progressive additional contracts make it even nicer.

Outrageously simple way to make money !!!!!!


.
Great job jacko ....
  • #296
  • Jul 18, 2007 3:04am Jul 18, 2007 3:04am
Im having problems determining the trend with different time frames. For example, trading on the 4h its showing a downtrend along with the daily. But for the weekly, it might show an uptrend.

My question is, how do I know that this is a large retracement on the daily and the market will resume its bull direction (weekly) or if this is start of a big reversal that I am able to spot on the daily?
  • #297
  • Jul 18, 2007 3:16am Jul 18, 2007 3:16am
Quoting Xenjin
Im having problems determining the trend with different time frames. For example, trading on the 4h its showing a downtrend along with the daily. But for the weekly, it might show an uptrend.

My question is, how do I know that this is a large retracement on the daily and the market will resume its bull direction (weekly) or if this is start of a big reversal that I am able to spot on the daily?
"Knowing" would mean you predicted the future. You never know.

But, your post made me think of an earlier one by Jacko, in which he said, and I may be paraphrasing slightly, "... and I have no reason to believe it won't continue..."

So, looking at the long term trend, the Euro is going up, and will likely continue until a long term (weekly chart) trend is broken. Buy pullbacks. What's a pullback? That's up to the individual and his/her style. Lately I've been trading off the 5 and 15 minute charts, looking for 5 to 20 pip trades, but I still only go long.

Is this OK, Jacko?
  • #298
  • Jul 18, 2007 3:28am Jul 18, 2007 3:28am
The key is to not get wrapped up in multiple timeframes. Don't get me wrong, it's ok to look at different timeframes, but if you're a 4H guy, then stick to 4H. When you start looking at Weeklys and Dailys and then look back at your 4H, I guarantee you that you won't pull the trigger because you'll be all confused. Then what happens is you pull the trigger anyway just to get in the trade, then you lose, then you get upset because you're all confused about which direction you should've went...it's a downward spiral from there.
Mr. Trend
  • #299
  • Jul 18, 2007 9:59am Jul 18, 2007 9:59am
Hi,

This is awesome, actually have been reading a lot from this forum. Have been trading with series of +pips that i stopped trading for months. Then i started study price movement on my own and after careful study of the price itself i went live again in my trading and for the first time in my life a/c i trade 4 straight wins.

Surprisingly enough i discorvered Jacko was using the same trading method i observed on my own but in a rather fine-tuned way.

Jacko, thanks so much you double my confident level with this.

Please, stick to your decision, don't post live tarde here so that we newbies can learn on our own.

We need no fish from anybody as we are not hungry for one but we need a teacher to teach us how to fishing for our future depend on ourself.

Thanks on again Jacko, we need you here so please continue the good work.

Regards to all members and i say...
  • #300
  • Jul 18, 2007 10:01am Jul 18, 2007 10:01am
Hi,

This is awesome, actually have been reading a lot from this forum. Have been trading with series of -pips that i stopped trading for months. Then i started studying price movements on my own and after careful study of the price itself i went live again in my trading and for the first time in my live a/c i traded with 4 straight wins.

Surprisingly enough i discorvered Jacko was using the same trading method i observed on my own but in a rather fine-tuned way.

Jacko, thanks so much you double my confident level with this.

Please, stick to your decision, don't post live tarde here so that we newbies can learn on our own.

We need no fish from anybody as we are not hungry for one but we need a teacher to teach us how to fishing for our future depend on ourself.

Thanks once again Jacko, we need you here so please continue the good work.

Regards to all members and i say...
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