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Jacko's Forex House of Pleasure and Pain

  • #1,221
  • Oct 30, 2007 10:26pm Oct 30, 2007 10:26pm
I am about 1/3rd onto the thread and have several questions, but first want to see if they are answered somewhere. Jacko's trading principles have influenced my whole appraoch to trading and thus far I am very happy with the results. Unfortunately however I have one of those underfinanced accounts that Jacko talks about, but if I can become consistent in my winnings I may be able to change that- lol. This post mostly to help me keep track of any new posts
Daniel
  • #1,222
  • Oct 31, 2007 2:42pm Oct 31, 2007 2:42pm
1.44790
  • #1,223
  • Oct 31, 2007 2:44pm Oct 31, 2007 2:44pm
Thanks
  • #1,224
  • Oct 31, 2007 6:05pm Oct 31, 2007 6:05pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
1.4503 is the high according to my charts for the close of october, Jacko's target reach. ( believe he was looking at this way back in April)

were next?
  • #1,225
  • Oct 31, 2007 6:19pm Oct 31, 2007 6:19pm
And do believe a couple of months early this time
  • #1,226
  • Nov 1, 2007 9:18am Nov 1, 2007 9:18am
Don't you think a major correction is in process? I've been stopped out twice today. I think the correction will last till about 7:00pm GMT before the uptrend continues. Anyone with a different view?
Regards.Lord Elves
  • #1,227
  • Nov 3, 2007 7:23pm Nov 3, 2007 7:23pm
Congratulations Jacko,
1.45

Great Vision.

All the Best
John
  • #1,228
  • Nov 4, 2007 5:57pm Nov 4, 2007 5:57pm
I was just saying to my girlfriend.. this guy on the forum always predicts the market perfectly I should just buy whenever he says buy, it would be that simple to make money

Good Job Jacko, did it again
  • #1,229
  • Nov 6, 2007 5:27am Nov 6, 2007 5:27am
Quoting Archer
Jacko,
One of my fallen soldiers stood up last night and began moving forward again. What a great feeling. Thanks for your help.
Archer

hope you or someone kind enough to help me out here. when you were stopped out, did the price drop by 50 pips before you put on your A-H order ?

there are times when the price drop only by over 10 pips after being stopped out so i'm in dilemma whether to put on the A-H order then or wait for price to drop further.....

what if price drop by say 10 pips or so and then proceed to move above my stopped out price ? i should then put a buy order at the next round number ?

very very sorry if these questions have been asked before....
  • #1,230
  • Nov 6, 2007 5:48am Nov 6, 2007 5:48am
Quoting brxxt
I should just buy whenever he says buy, it would be that simple to make money
Sounds like you want either a signal service, a managed account or a fund.

Speaking of perfect forecasting and saying buy..has anyone seen jacko post anywhere after he got his subscribers?

The thread sort of went mostly dead(jacko post wise) shortly after.
Trust price. Know yourself.
  • #1,231
  • Nov 6, 2007 5:50am Nov 6, 2007 5:50am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting findcount
hope you or someone kind enough to help me out here. when you were stopped out, did the price drop by 50 pips before you put on your A-H order ?

there are times when the price drop only by over 10 pips after being stopped out so i'm in dilemma whether to put on the A-H order then or wait for price to drop further.....

what if price drop by say 10 pips or so and then proceed to move above my stopped out price ? i should then put a buy order at the next round number ?

very very sorry if these questions have been asked before....
plan a trade and trade the plan - with Jacko's method you need to wait for the 50pips, what this does is allows the market to move around and stops you being hit twice. if you were to add the trade again after only 10pips why us the SL method at all. that being said some wounded troops will sit out for some time it may be possible for some to never be recovered or have to wait untill after a major correction. so be paticent.

If you feel that the market is going long again take jacko's other advise, take a walk come back and look at you charts, it maybe that you simply entered to early.

I'm sure others will have a view on this, but this is just mine, i would also advise you to print out the plan and read it over and over again. the key is to stick to the plan.

regards

MPP
  • #1,232
  • Nov 6, 2007 5:51am Nov 6, 2007 5:51am
Quoting findcount
hope you or someone kind enough to help me out here. when you were stopped out, did the price drop by 50 pips before you put on your A-H order ?

there are times when the price drop only by over 10 pips after being stopped out so i'm in dilemma whether to put on the A-H order then or wait for price to drop further.....

what if price drop by say 10 pips or so and then proceed to move above my stopped out price ? i should then put a buy order at the next round number ?

very very sorry if these questions have been asked before....
Yes it has/they have.
Jacko replied to just "take it on the chin like a man" or similiar(if the market moves on without moving 50 pips below and back first).
You must not "cheat", the 50 pips exist for a reason in the anti hedge process I guess.

Where you buy or not is up to you, there never was a pinpoint precise outline for that besides the round numbers and fibs...although I perceived it that jacko seemed to favor buying dips("however I believe I can get in cheaper" etc) rather than tops.
Trust price. Know yourself.
  • #1,233
  • Nov 6, 2007 7:21am Nov 6, 2007 7:21am
many thanks to seekinglight and mpp.........

do you reckon it's better to place buy orders at 1.4050 then 1.4100 due to the psychological effect ? 1.4100 might have greater resistance or it's the same from your experience ?

i was long eur/chf and got stopped out....i was hoping it'll go over 50 pips below my stopped out price but it only went down over 10 pips..........and has gone above my stopped out price.......

i'll place another buy order at my initial entry price since it's the nearest round number.......but it's at 1.6700, too much of a round number ?
  • #1,234
  • Nov 6, 2007 7:40am Nov 6, 2007 7:40am
Quoting findcount
many thanks to seekinglight and mpp.........
You're welcome.

Quote
do you reckon it's better to place buy orders at 1.4050 then 1.4100 due to the psychological effect ? 1.4100 might have greater resistance or it's the same from your experience ?


I have no idea

I just watched this thread to learn some of jacko's thought processes and ideas. I trade my own stuff => price action + a cocktail of random madness.

That has it's own rules for entries and that's how I go about things
Trust price. Know yourself.
  • #1,235
  • Nov 6, 2007 7:44am Nov 6, 2007 7:44am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting findcount
many thanks to seekinglight and mpp.........

do you reckon it's better to place buy orders at 1.4050 then 1.4100 due to the psychological effect ? 1.4100 might have greater resistance or it's the same from your experience ?

i was long eur/chf and got stopped out....i was hoping it'll go over 50 pips below my stopped out price but it only went down over 10 pips..........and has gone above my stopped out price.......

i'll place another buy order at my initial entry price since it's the nearest round number.......but it's at 1.6700, too much of a round number ?
Hi FC
couple of things here, first jacko only trades EU, so the 50pips is based on his experience with this pair, so when trading eur/chf 50pips may not be the correct stop, although the pair is trending it may be more volatile in it's daily range, try to understand the system on EU first before applying to other pairs, you may find that the Eu has everything you need.

it would help if you could explain why you are looking at 1.4050 - 1.4100, these are low numbers for the strength of the trend, my charts show more likely the 1.43 - 1.44 area. purhaps your fib's need adjusting to show the last major run up so you can see the 50% Fib clearer, it pays sometimes to simply clean your chart and re-look at the high/lows and TL's to see the next potential entry.

post a chart and show why you felt these where the target area's, we can then discuss what you are looking at and how i might apply Jacko's method to it. I am sure others will have something to add also.
  • #1,236
  • Nov 6, 2007 8:27am Nov 6, 2007 8:27am
Quoting MPP
Hi FC
couple of things here, first jacko only trades EU, so the 50pips is based on his experience with this pair, so when trading eur/chf 50pips may not be the correct stop, although the pair is trending it may be more volatile in it's daily range, try to understand the system on EU first before applying to other pairs, you may find that the Eu has everything you need.

it would help if you could explain why you are looking at 1.4050 - 1.4100, these are low numbers for the strength of the trend, my charts show more likely the 1.43 - 1.44 area. purhaps your fib's need adjusting to show the last major run up so you can see the 50% Fib clearer, it pays sometimes to simply clean your chart and re-look at the high/lows and TL's to see the next potential entry.

post a chart and show why you felt these where the target area's, we can then discuss what you are looking at and how i might apply Jacko's method to it. I am sure others will have something to add also.

very very sorry about the 1.4050 and 1.4100 numbers......i just plucked them from nowhere. i was actually using them to suggest that the bigger round number like 1.4100 should see more resistance than 1.4050 ?

prices may reach and surpass 1.4050 more readily than 1.4100 ? or there's no difference ?

reason i picked eur/chf is i thought it has a smoother uptrend than the eur/usd ?

i now know why i was stopped out as my entry price of 1.6700 was at a fib level and the price breached that level but was rejected before my order was made and i just rashly placed a long order even though the trend was going down on the daily.
  • #1,237
  • Nov 6, 2007 8:41am Nov 6, 2007 8:41am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting findcount
very very sorry about the 1.4050 and 1.4100 numbers......i just plucked them from nowhere. i was actually using them to suggest that the bigger round number like 1.4100 should see more resistance than 1.4050 ?

prices may reach and surpass 1.4050 more readily than 1.4100 ? or there's no difference ?

reason i picked eur/chf is i thought it has a smoother uptrend than the eur/usd ?

i now know why i was stopped out as my entry price of 1.6700 was at a fib level and the price breached that level but was rejected before my order was made and i just rashly placed a long order even though the trend was going down on the daily.
you live and learn, when it comes to strength no round number is stronger than any other, 1.4500 was proof of this, everyone seemed to see it as a magic number, but it passed. a number becomes stronger when it has a fib attached to it or close by and also if a trendline is in play. thats just my opinion, i'm sure Jacko will have more to say on the round numbers issue when he returns.

Sit back and wait for the chart to tell you when to enter, random entries following a trend will work sometimes, but you will also feel the pain a lot more often than if you pick your entry with good reasons.
  • #1,238
  • Nov 6, 2007 10:32pm Nov 6, 2007 10:32pm
Where is the logic of this chinese official let buy expensive EURO and sell cheap USD?
  • #1,239
  • Nov 6, 2007 10:52pm Nov 6, 2007 10:52pm
This makes no sense to me either.....with the outsourcing the US is doing with china you would think they would want a strong dollar. I could have this all backwards though........all I know is that I am still riding the the move and making pips.............
Same Whore .... Different Dress
  • #1,240
  • Nov 7, 2007 2:55am Nov 7, 2007 2:55am
Quoting sofia101
Where is the logic of this Chinese official let buy expensive EURO and sell cheap USD?


I don't find any logic here. Chinese official will certainly not buy EURO now when they can buy it later at less price if they want to.

This is only the kind of rumors that pushes prices a little bit more until they hit STOPS and get the big move we suddenly saw few hours ago.

I think we will see an important retracement once 1.4600 is broken down until we get back to previous levels before new highs.

So as the uptrend continues, buy dips or if you want to sell breaks, keep tight stop losses.
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