Jacko's Forex House of Pleasure and Pain | Page 53 | 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

  • #1,041
  • Oct 5, 2007 10:22am Oct 5, 2007 10:22am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Hi Jacko
Frustrated, not angry, sorry.
I don't want a signal service and i didn't take the trade as i only trade the trend on both EU and AU, i have my own views and have taken the long based on that.

Yes i like everyone eles would love to know the new system, I have a hobby pair than i try new indicators on and i was mearly trying to see where he had existed to see if anything on my charts correlated with newtons, nothing more nothing less.

Yes this is your journal and you can brag all you like, but it is a little hard to take when you have been such a great mentor to me personnally and probably so many other new traders, i have sent many this way and all have learnt much from your thread.

I appoligise for the way i came accross in the last message.

MPP





Quoting jacko
Hi MPP,

1. Read it again: "in the last two trades combined, he made in excess of a 150 pips per contract"

2. I am not bragging (OK, I am a little....)

3. I gave you an entry....if I give you the exit Mark will be VERY, VERY upset. I am sure that you are not the only one trying to work this method out by using correlation analysis. (By the way, what is wrong with just getting a good entry point...???).

4. I haven't moved our original trading stategy aside. In regard to trend trading, we are flat since last Friday and are waiting to re-enter on the long side.

5. Marks "new toy" (as you call it) is nice but out primary strategy of trend trading will leave it in the dust over the longer term. Stick with that and try to be patient. This market will be around long after you and I are dead.

6. Please don't use aggressive terms on this Forum. Most of the experienced traders would get upset at the tone of your second paragraph. They give their time and experience FREE.

7. I suggest that you do NOT respond to this post. I suggest that you re-evaluate what you are trying to obtain from this forum. (Entry and Exit points??? I am not a signal provider!!!!)


.
  • #1,042
  • Oct 5, 2007 10:42am Oct 5, 2007 10:42am
Quoting jacko
Hi MPP,


3. I gave you an entry....if I give you the exit Mark will be VERY, VERY upset. I am sure that you are not the only one trying to work this method out by using correlation analysis. (By the way, what is wrong with just getting a good entry point...???).


.
Of course he's not the only one...
We're all working very hard to decrypt it, Jacko...
Have a great weekend everyone.. and many pips.
  • #1,043
  • Oct 5, 2007 10:46am Oct 5, 2007 10:46am
Quoting MPP
Hi Jacko
Frustrated, not angry, sorry.
I don't want a signal service and i didn't take the trade as i only trade the trend on both EU and AU, i have my own views and have taken the long based on that.

Yes i like everyone eles would love to know the new system, I have a hobby pair than i try new indicators on and i was mearly trying to see where he had existed to see if anything on my charts correlated with newtons, nothing more nothing less.

Yes this is your journal and you can brag all you like, but it is a little hard to take when you have been such a great mentor to me personnally and probably so many other new traders, i have sent many this way and all have learnt much from your thread.

I appoligise for the way i came accross in the last message.

MPP
With Jacko's original AH strategy, you can make a killing. All you really need is to be patient and follow the rules...

Don't be greedy, people....., be thankful for what you have!

Master AH and harvest, harvest..... harvest.......
  • #1,044
  • Edited 4:41pm Oct 5, 2007 10:58am | Edited 4:41pm
Hi Jacko,

Hope its ok to post a chart (a picture paints a thousand words).

4. I haven't moved our original trading stategy aside. In regard to trend trading, we are flat since last Friday and are waiting to re-enter on the long side.


Just trying understand why you haven't entered a position today. You trade with the major trend using trend lines and 50% retrace round no etc. Just seemed to me the entry shown on my chart is an obvious place to enter, it is with the trend, a reject off a major trend line, a round number area 1.400 and happens to be at the monthly pivot (I know you don't use things like these as far as I know) were it reversed exactly.

My entry 1.4066 I did have an order at 35 (which would have filled) but for reasons even I don't know cancelled it, must have thought I could do better manually lol.

I know price may turn around and go lower, thats ok this is now a profitable trade whatever and if it doesn't! This trade seemed to me a perfect entry with low risk and I think in accordance with your strategy (please correct me if I am wrong) and hopefully the launch point for another major move up.

The upper green trend line I have had on my chart since price broke out of the channel being the close/open price from 1995 on the monthly chart, didn't have the courage to trade it short though just watched price reverse lol.

Would appreciate your thoughts Jacko and feel free to blow my analysis out of the water here.

Having followed your thread from the start I would like to add my thanks to all the others, you have driven home the importance of the cliche' phrase 'trade with the trend'. Its helped me no end.

Regards,

Chris
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd daily 051007.gif Size: 22 KB
  • #1,045
  • Oct 5, 2007 11:01am Oct 5, 2007 11:01am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting raczekfx
With Jacko's original AH strategy, you can make a killing. All you really need is to be patient and follow the rules...

Don't be greedy, people....., be thankful for what you have!

Master AH and harvest, harvest..... harvest.......

Narrow minded i think, definatly not greed.
It's like i went to college one day and the teacher gives you the best tools you can ever have in your toolbox. next term it's like well actually thats crap and were not going to tell what you need.

sometimes you just focus on one thing to much and start p***ing poeple of.

I was just a little thrown by the bragging a bit, didn't seem to me like it was jacko's way. was hopeing for more of a study XXXX.

stuppid thing is i'm still trading the A-H way and will never forget it, making money and enjoying trading, just lost the plot.

I appoligise to all for the negative tone i brought to this thread.

BTW, long EU from 1.4050 on last dip better price than my A-H that is waiting at 1.4160 will pick that up soon.
  • #1,046
  • Oct 5, 2007 11:04am Oct 5, 2007 11:04am
I find Jacko's new approach interesting and envy that they are taking their trading to a new level. I don't have much interest in figuring it out, but it is a good read. It reminds me of my previous hunts for a system. Mark/Jacko are doing me a favor by keeping it under raps. I am more interested in Trend/MM and being consistant.

What would really catch my attention if Jacko started trend trading GPB/USD or any other pair.

generalz
  • #1,047
  • Oct 5, 2007 11:10am Oct 5, 2007 11:10am
I understand some of the points expressed thus far. But once again... heh, be happy Jacko is as giving as he is...

Jacko... when you gonna start the DailyFX days up again? You can lock threads now as a 1KT member, I think...

I would enjoy it, personally. Because I trade very similiar to how you do.
Mr. Trend
  • #1,048
  • Oct 6, 2007 7:07am Oct 6, 2007 7:07am
sorry for posting this ........

but has anyone re-entered using A-H method and got hit with another 50pip SL right away ?

my a/c not big at all and just terrified of 2 X 50 pip loss........
  • #1,049
  • Oct 6, 2007 7:24am Oct 6, 2007 7:24am
Quoting findcount
sorry for posting this ........

but has anyone re-entered using A-H method and got hit with another 50pip SL right away ?

my a/c not big at all and just terrified of 2 X 50 pip loss........
You'll have to resize your positions (less and/or smaller lots). 50pips SL in any pair in these days of high volatility is the minimum, imo.
  • #1,050
  • Oct 6, 2007 7:39am Oct 6, 2007 7:39am
Quoting findcount
sorry for posting this ........

but has anyone re-entered using A-H method and got hit with another 50pip SL right away ?

my a/c not big at all and just terrified of 2 X 50 pip loss........

Yes, I did get stopped out yesterday after an AH entry long. I probably should not have held it through NFP, which just blew through it, and I could have exited before for a small loss - still learning. Don't forget - it could have been a lot worse without a stop!!!

All the same, I followed my plan, and more important, my RISK was 2% of my equity, so even if I have now lost both trades, that is still under 4% of my equity, enough to keep going for quite a while. The probability of suffering 44 or so consecutive losses (by which time my account is toast) is very improbable with a good system, which is why any system you adopt needs to be practiced (demo) first. And the amount to risk should be a small % of current equity, so you can be wrong even more times consecutively; but by the time you have 5- 8 consecutive losses, one should sit back, take a breath and re-analyse the system. If the system seems to be working for others but not you, you need to find out what you are doing incorrectly and demo the corrected one, or find something else that suits you better, that you can understand and use consistently.

For me the important thing is that I am still in the game with enough capital for quite a while. I don't have that much $$$ at play in the markets, unlike Jacko, but if it means using mini or micro lots to get your risk as a % of your capital between 1 - 2% and grow it from there, then that's what you need to do. You can't possibly be trading standard lots on a $10K account. E.g. If you were to take a position on the EURUSD with a 50 pip stop, and you have a $10K account, want to risk 1%, then that is a risk of $100. If your stop is 50 pips, then you can put on 2 mini lots or 20 micro lots (a mini lot is $1 per pip, micro is 10c per pip)

Hope this helps....

mac18
  • #1,051
  • Oct 6, 2007 8:39am Oct 6, 2007 8:39am
People,

Let's not be frustrated over something that we dont know anything about. Nobody besides jacko knows about Mark's techniques and its profitability. Nobody needs to know that techniques to make money in this business either. There are so many ways to skin a cat, why get frustrated if we miss just one of those techniques? Anyone (including Mark) has his own reason to keep it secret.

It's not wise to cause harm and frustration in this thread over something like this. Let's maintain the amicable environment so healthy discussion may take place as it always has.

This frustration result from people tendencies to believe in the existence of "legendary secrets in trading". This mentality is the reason why
1) many people dont pay attention to classic trading books. Their scarcity mentality tell them that "good things must remain secrets" or "Sharing is for losers, so I (and evryone else) will never share anything good".
2) many people try to invent something new in trading using funny indicators. They hope to discover a secret.

Anyone who reads Market Wizards and Jesse Livermore's book must have noticed that jacko's concept had been mentioned many times in those books. Perhaps Mark's techniques also shares the same concepts.
  • #1,052
  • Oct 6, 2007 11:12am Oct 6, 2007 11:12am
Does anyone use Renko charts with Jacko's system? If so, are they helpful and what settings?
  • #1,053
  • Oct 7, 2007 4:47am Oct 7, 2007 4:47am
Quoting luqmanz
People,

Let's not be frustrated over something that we dont know anything about. Nobody besides jacko knows about Mark's techniques and its profitability. Nobody needs to know that techniques to make money in this business either. There are so many ways to skin a cat, why get frustrated if we miss just one of those techniques? Anyone (including Mark) has his own reason to keep it secret.

It's not wise to cause harm and frustration in this thread over something like this. Let's maintain the amicable environment so healthy discussion may take place as it always has.
good words, luqmanz - words to trade by, thanks
  • #1,054
  • Oct 7, 2007 10:27am Oct 7, 2007 10:27am
Quoting Wolf.
Hi Jacko,

Hope its ok to post a chart (a picture paints a thousand words).

4. I haven't moved our original trading stategy aside. In regard to trend trading, we are flat since last Friday and are waiting to re-enter on the long side.


Just trying understand why you haven't entered a position today. You trade with the major trend using trend lines and 50% retrace round no etc. Just seemed to me the entry shown on my chart is an obvious place to enter, it is with the trend, a reject off a major trend line, a round number area 1.400 and happens to be at the monthly pivot (I know you don't use things like these as far as I know) were it reversed exactly.

.................

Chris

Hi Chris,

The simple answer to your question is that I don't believe this correction is finished.

I could be wrong (and one of the great things about this business is that you can change your mind ....and open a new position....in about 30 seconds). However, I just would like to buy at a cheaper price....maybe 1.4000 (from underneath).


.
  • #1,055
  • Oct 7, 2007 11:08am Oct 7, 2007 11:08am
Quoting jacko
Hi Chris,

The simple answer to your question is that I don't believe this correction is finished.

I could be wrong (and one of the great things about this business is that you can change your mind ....and open a new position....in about 30 seconds). However, I just would like to buy at a cheaper price....maybe 1.4000 (from underneath).


.
Thank you for the answer Jacko, seems very sound reasoning to me. I am happy now having some profit locked in so if the price falls thats fine and I would hope to join you buying at a cheaper price.

Regards,

Chris
  • #1,056
  • Oct 7, 2007 12:27pm Oct 7, 2007 12:27pm
Quoting jacko
Hi Chris,

The simple answer to your question is that I don't believe this correction is finished.

I could be wrong (and one of the great things about this business is that you can change your mind ....and open a new position....in about 30 seconds). However, I just would like to buy at a cheaper price....maybe 1.4000 (from underneath).


.
Hi Jacko,

Could you possibly explain some of your thought processes behind determining how far the correction will go? Is it price action, fibs, momentum, trendlines, fundamentals or just a gut feeling (even then, I'd really appreciate any insight behind this 'gut' feeling)? I'd be fascinated to hear what goes on in your head when you make these guesses. Thanks!
  • #1,057
  • Oct 7, 2007 5:23pm Oct 7, 2007 5:23pm
Jacko could you clarify one situation (chart attached).

Trade is entered at 1.3050, T/S 50 pips.
Stopped out at 1.3010 (40 pips loss).
Price falls more than 50 pips, A-H activated at 1.3010.
Price comes back A-H position opened at 1.3010, T/S 50 pips and stopped out again at 1.2975 (35 pips loss).

What's the next step with A-H?
Should I wait for the price drop 50 pips or place stop buy at 1.3010?

TIA

MythosKid
Attached Image (click to enlarge)
Click to Enlarge Name: screen_00001.jpg Size: 38 KB
  • #1,058
  • Oct 8, 2007 12:11am Oct 8, 2007 12:11am
Quoting MythosKid
Jacko could you clarify one situation (chart attached).

Trade is entered at 1.3050, T/S 50 pips.
Stopped out at 1.3010 (40 pips loss).
Price falls more than 50 pips, A-H activated at 1.3010.
Price comes back A-H position opened at 1.3010, T/S 50 pips and stopped out again at 1.2975 (35 pips loss).

What's the next step with A-H?
Should I wait for the price drop 50 pips or place stop buy at 1.3010?

TIA

MythosKid

I would:

1. Place stop buy at 1.3010

AND

2. wait for the price to drop 50 pips (to 1.2925) and then put a stop buy at 1.2975



.
  • #1,059
  • Oct 8, 2007 12:17am Oct 8, 2007 12:17am
Quoting libertao
Hi Jacko,

Could you possibly explain some of your thought processes behind determining how far the correction will go? Is it price action, fibs, momentum, trendlines, fundamentals or just a gut feeling (even then, I'd really appreciate any insight behind this 'gut' feeling)? I'd be fascinated to hear what goes on in your head when you make these guesses. Thanks!

Hmmm.....have a look at this post.
http://www.forexfactory.com/showpost.php?p=1502373&postcount=318


.
  • #1,060
  • Oct 8, 2007 12:33am Oct 8, 2007 12:33am
Jacko,

Let's consider that after conducting your businesses one way or another you have made a nice profit and you are now sitting on a $5M cash. Do you get worried about the $ being devalued? In other words... since you made a lot of dollars by selling the dollar would it make sense to convert some of it to Euros?


I am curious because I am sitting on a smaller fortune but it is really what got me into the forex. I wanted to protect my savings and bought EURUSD for the size of my savings. Then I realized the potential of the leverage...

Thanks for a great thread!
2 traders viewing now