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Jacko's Forex House of Pleasure and Pain

  • #1,281
  • Dec 4, 2007 10:30pm Dec 4, 2007 10:30pm
JJK2,

a few traders on this board went through Jacko's old posts and revised everyone of the trades he posted (live). Some went on to even dig for old news that may have happened and triggered substantial moves around the trades that he posted (just to recreate the environment).
I don't mean to sound condescending, I am sorry if I do, but there is a lot a trader can learn from Jacko. And it's FREE.

Finally, a few traders on this board also consider themselves very lucky to be able to interact freely with the man...he's been more than willing and forthcoming to answer all of the questions that I had.

Good luck.
  • #1,282
  • Dec 5, 2007 12:19pm Dec 5, 2007 12:19pm
Quoting dunningduke
JJK2,

a few traders on this board went through Jacko's old posts and revised everyone of the trades he posted (live). Some went on to even dig for old news that may have happened and triggered substantial moves around the trades that he posted (just to recreate the environment).
I don't mean to sound condescending, I am sorry if I do, but there is a lot a trader can learn from Jacko. And it's FREE.

Finally, a few traders on this board also consider themselves very lucky to be able to interact freely with the man...he's been more than willing and forthcoming to answer all of the questions that I had.

Good luck.
I am one of Jacko,s students. Let me just say I feel very lucky to be in his group--I am FINALLY making money from forex. Thank you Jacko!
  • #1,283
  • Edited Dec 6, 2007 12:27am Dec 5, 2007 2:12pm | Edited Dec 6, 2007 12:27am
I always wanted to concentrate on all pairs what my platform offers. Got killed many times.
Maybe it is better to pick just one pair.
EUR/USD.
I suppose we are still bullish.
I think 1,4600 could be a turn point.
Will we get to 1,500 until end of the year ???
Tomorrow Trichet speaks. Let´s see what happens.

Good luck to all.
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  • #1,284
  • Edited 1:52am Dec 6, 2007 1:01am | Edited 1:52am
so i just found this thread.. hope i am not too late.. but it appears Jacko has many threads... where do i start? just from the first thread here and then continue reading??? This is what I will do to start and will do as advised, looks profitable....
  • #1,285
  • Dec 6, 2007 2:36am Dec 6, 2007 2:36am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting ilcapocamorr
so i just found this thread.. hope i am not too late.. but it appears Jacko has many threads... where do i start? just from the first thread here and then continue reading??? This is what I will do to start and will do as advised, looks profitable....
you've found the most important thread, i would advise you to print the first few pages for reference also, then read, re-read and read again, as you read through the thread write down the page and post numbers of posts with Q&A's for future reference - saves you asking question that have already been covered.

Jacko's group is taking up alot of his time so he may take a while to answer any questions you do post - but he gets there in the end, that said there are plenty of good traders in here that will be glad to help.

and then trade with ease,
  • #1,286
  • Dec 6, 2007 5:14am Dec 6, 2007 5:14am
Hi,

Found this indicator in another thread and thought it might be useful for all the Jacko followers.
It simply draws lines for you at the major price points. I.e. 1.4550, 1.4600, 1.4650 etc.

Cheers
Attached File(s)
File Type: mq4 SDX-SweetSpots.mq4   3 KB | 572 downloads
Enter Signature
  • #1,287
  • Dec 6, 2007 7:13am Dec 6, 2007 7:13am
i've been thinking........would it be better (safer) if we find a few pairs with characteristics like eur/usd and divide the trade size between them ?

surely we can minimize -50 pip SL being hit on all the pairs ? perhaps safer but not so profitable.........
  • #1,288
  • Dec 6, 2007 8:22am Dec 6, 2007 8:22am
I think that EUR/USD makes the nicest waves on 4h charts from all pairs. So you can easy predict turn points. For me it is easier to read EUR/USD than any other pair.
  • #1,289
  • Dec 6, 2007 9:05am Dec 6, 2007 9:05am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting findcount
i've been thinking........would it be better (safer) if we find a few pairs with characteristics like eur/usd and divide the trade size between them ?

surely we can minimize -50 pip SL being hit on all the pairs ? perhaps safer but not so profitable.........

i think Jacko would ask why - actually, in one of his prevous posts he gives us his view on this and basically they follow the same wave so why bother.

i've tried it on the AUD/USD pair and it works, but the results end up the same, i trade the same amount over more pairs - which means i have to study more charts = more work =?why bother

i think the key to this is to get really confident with one system on one pair and over time increase your trade size as you make profit to give the return you would like to see in regard to the risk you are prepaired to trade.

my view only, i'm sure jacko will drop by to give us his in time.
  • #1,290
  • Dec 6, 2007 9:47am Dec 6, 2007 9:47am
also don't forget the fact that the EUR/USD pair has the tightest spread...
Same Whore .... Different Dress
  • #1,291
  • Edited 11:20am Dec 6, 2007 11:10am | Edited 11:20am
1,4550 was good buying opportunity and it seems that 1,4600 is too. Any ideas?
I bought small long for 1,4616 and moved SL to BE+1. I know I am not following Jacko's method for 100% but next time I will.
  • #1,292
  • Dec 6, 2007 11:35am Dec 6, 2007 11:35am
Quoting Venca
1,4550 was good buying opportunity and it seems that 1,4600 is too. Any ideas?
I bought small long for 1,4616 and moved SL to BE+1. I know I am not following Jacko's method for 100% but next time I will.
nonfarm tomorrow, so fiber won't do much till then...
Your stop is tight and will most likely be taken out before numbers are released.
I'm trailing mine behind 38fib of last 5 -1hr bars swing high/low
  • #1,293
  • Dec 6, 2007 11:39am Dec 6, 2007 11:39am
I am booked in +1, will leave it with trailing stop 50pips. I think the same as you - but maybe we are wrrrr .....
  • #1,294
  • Dec 7, 2007 1:12am Dec 7, 2007 1:12am
Quoting raczekfx
nonfarm tomorrow, so fiber won't do much till then...
Your stop is tight and will most likely be taken out before numbers are released.
I'm trailing mine behind 38fib of last 5 -1hr bars swing high/low
You were right. Out +1. It seems that fiber does not want to go bellow 1,4600. Better to wait until Nonfarm Employment Change release.
  • #1,295
  • Dec 7, 2007 6:50am Dec 7, 2007 6:50am
That was a nice run from 1,4600 area to 1,4650. NFP coming out in 45min. What would Jacko do? Put Entry Stop Buy on 1,4650?
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  • #1,296
  • Dec 7, 2007 6:59am Dec 7, 2007 6:59am
Quoting MPP
i think Jacko would ask why - actually, in one of his prevous posts he gives us his view on this and basically they follow the same wave so why bother.

i've tried it on the AUD/USD pair and it works, but the results end up the same, i trade the same amount over more pairs - which means i have to study more charts = more work =?why bother

i think the key to this is to get really confident with one system on one pair and over time increase your trade size as you make profit to give the return you would like to see in regard to the risk you are prepaired to trade.

my view only, i'm sure jacko will drop by to give us his in time.
johnedoe..........you're right again........

i just thought i would feel better if i spread out my risk......though i have to agree results may be same or even worse and there's more work too.....

i also though if i spread out my position size and not all the pairs were to lose money i can actually hold those losing pairs longer to wait for the turnaround and also to average down and scale in when prices move in the right direction. so i'm trying to find pairs that don't have huge drops during unwinds.......

***) am i wrong if i say eur/usd is in a downward channel at the moment ? i'll be waiting for the breakout from this channel.........
  • #1,297
  • Dec 7, 2007 8:15am Dec 7, 2007 8:15am
Quoting Venca
That was a nice run from 1,4600 area to 1,4650. NFP coming out in 45min. What would Jacko do? Put Entry Stop Buy on 1,4650?

Venca,

No I wouldn't put a entry Stop Buy at 1.4650...

Our last trade was when I sent an SMS to each member at 1.00 am NY time Dec 6 and it was triggered at 6.30 am the same day. The trade recommendation was to buy at 1.4550. Almost everyone did. We were TSL'd at 1.4609 for a nice 59 pips.

I had also stated earlier in in the group"s private site on Dec 2
given the dramatic rise in the Euro in the last three months, we may see a significant pullback to 1.4500 (50% of the rise from Oct 8 to Nov 22....a nice round number ...and a 8hr trend line from Oct 8 and Oct 22).

I had also written this in the groups private site on Nov 26 (when the market was around 1.4850)
I believe that the market will retrace from these current levels, but I don’t know how low. (1.4500 ?...big round number and 50% retrace from 1.4014 to 1.4966 ?) Note: A 500 pip retracement is easily possible.


Our little group has had some nice wins and we are slowly but surely improving our financial positions.


.
  • #1,298
  • Dec 7, 2007 8:35am Dec 7, 2007 8:35am
Thank you for full-range answer.
  • #1,299
  • Dec 7, 2007 3:37pm Dec 7, 2007 3:37pm
Quoting jacko
I had also stated earlier in in the group"s private site on Dec 2
given the dramatic rise in the Euro in the last three months, we may see a significant pullback to 1.4500 (50% of the rise from Oct 8 to Nov 22....a nice round number ...and a 8hr trend line from Oct 8 and Oct 22).

I had also written this in the groups private site on Nov 26 (when the market was around 1.4850)
I believe that the market will retrace from these current levels, but I don’t know how low. (1.4500 ?...big round number and 50% retrace from 1.4014 to 1.4966 ?) Note: A 500 pip retracement is easily possible.
Jacko,
It's nice to hear an update on your thoughts/predictions on the euro (from a recent historical perspective). The last time you talked about the direction of the euro was in this post (http://www.forexfactory.com/showpost.php?p=1632325&postcount=1062) way back in early Oct. Although we never saw 1.38, I was wondering what your take was on the 800 pip surge from 10/22 - 11/22.

Glad to hear your group is going well. Hope you can drop in on your journal here once and while for a general euro update (hindsight update of course, like the one you posted above). Have a great weekend.
  • #1,300
  • Dec 7, 2007 3:45pm Dec 7, 2007 3:45pm
Quoting jjk2
i think one of the currency trader magazine actually shows you with some statistics ( i haven't had chance to read the whole thing) that this is not teh case.

btw, great thread. jacko, on the first page, is that really how you trade? how do u deal with major drawdowns which im sure you can get.

I'd like to read that article, can you please give me a link to that issue?

thanks!
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