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Jacko's Forex House of Pleasure and Pain

  • #1,501
  • Jan 9, 2008 8:41am Jan 9, 2008 8:41am
Quoting SeekingLight
(even though not pertaining to the AH)
Jacko has written/posted that he's got/had/traded both longer term positions as well as the 50 TS ones. Personally I feel the longer term goal in mind ones are the really interesting ones.
I feel too but does it means that longer term positions have to suffer bigger TS, especially near entry ?


Fabrice,
Just trying to understand.
  • #1,502
  • Jan 9, 2008 8:54am Jan 9, 2008 8:54am
Quoting Fab
Why not FULL lot size with 25 pips stop ?
And why not simply... wait ?
Hi fab,
I think you are missing the point...Jacko suggested taking smaller positions during volatile markets, so that your stop would be larger with a smaller position, so even if the market moved more than 50 pips you could hold your position without more risk...if you took full lot with 25 pips during a volatile period you would be asking to have your money taken...Any position no matter how large your stop should imply the same overall risk, you adjust your position size depending on the size of your stop. If you are willing to risk 2% of a 10k account (for example)this means 200 dollars or euros or whatever, divided by the number of pips your stop is, will give you your allowable position size ...hope this helps, Raz
Never say never.
  • #1,503
  • Edited Jan 10, 2008 4:38am Jan 9, 2008 5:43pm | Edited Jan 10, 2008 4:38am
Erased
  • #1,504
  • Edited 6:14pm Jan 9, 2008 5:56pm | Edited 6:14pm
Take a look at these 2 charts. On both charts the price shot through the 50% level then in the case of the Eur/Usd passed through the 61.8 level then came to rest at the 75% level which just happened to be 1.4800 a round No.

Now wait for price action to confirm

The Usd/Cad charts a similar path but here the price did hesitate at the 61.8 level before coming to rest at just below the 75% level. Surprise,surprise price has come to rest on another round number 1.0100
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdcad 4hr010908.gif Size: 29 KB
Click to Enlarge Name: eurusd 4hr010908.gif Size: 29 KB
  • #1,505
  • Jan 9, 2008 7:26pm Jan 9, 2008 7:26pm
People are making this too complicated, hehe
Take a report.
  • #1,506
  • Jan 10, 2008 12:09am Jan 10, 2008 12:09am
Quoting CateFul
People are making this too complicated, hehe
You are right. all you need is here
http://www.forexfactory.com/showthread.php?t=27286
and here
http://www.forexfactory.com/showpost.php?p=1431044&postcount=85
and here
http://www.forexfactory.com/showpost.php?p=1786038&postcount=1413

Trading with Jacko is the best thing that has ever happened to me. I am a forex trader. and I am making more money than I have ever made in my life.
  • #1,507
  • Jan 10, 2008 10:00am Jan 10, 2008 10:00am
Are you guys going to hold position during Bernarke speech?

last time there were wild swings of 80 pips either side.

reduce trading lots 1/2 and increase stop loss?

whats the general consensus on the effects of his speech?
  • #1,508
  • Jan 10, 2008 10:12am Jan 10, 2008 10:12am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting pavlov0032
Are you guys going to hold position during Bernarke speech?

last time there were wild swings of 80 pips either side.

reduce trading lots 1/2 and increase stop loss?

whats the general consensus on the effects of his speech?
My thoughts - sit it out and wait.
  • #1,509
  • Jan 10, 2008 8:23pm Jan 10, 2008 8:23pm
On the break of 1.4700, I went in for some quick money:
  • #1,510
  • Jan 11, 2008 3:37am Jan 11, 2008 3:37am
Quoting newbietrader101
You are right. all you need is here
http://www.forexfactory.com/showthread.php?t=27286
and here
http://www.forexfactory.com/showpost.php?p=1431044&postcount=85
and here
http://www.forexfactory.com/showpost.php?p=1786038&postcount=1413

Trading with Jacko is the best thing that has ever happened to me. I am a forex trader. and I am making more money than I have ever made in my life.
If you don't know why this system is so successful, you will loose money even faster when the conditions of this success story will deteriorate.
Not a criticism.
  • #1,511
  • Jan 13, 2008 2:51pm Jan 13, 2008 2:51pm
Quoting Fab
If you don't know why this system is so successful, you will loose money even faster when the conditions of this success story will deteriorate.
Not a criticism.
Fab,
Please explain why you have such non-critical feelings about Jacko's system. Although it sounds a bit critical from your bash and run post. I'll give you a chance to post why you think we will lose money.

Archer
  • #1,512
  • Jan 13, 2008 8:09pm Jan 13, 2008 8:09pm
Quoting Fab
If you don't know why this system is so successful, you will loose money even faster when the conditions of this success story will deteriorate.
Not a criticism.
Hi Fab.

Mark (an ex-broker who now trades with me) and a couple of members of the group that are experienced traders seem to think that the group's 319 pips over the first 47 days with very little effort or stress, is pretty impressive.

AND we made this mostly by taking long positions during a correction.

(Mark is an ex-broker and knows that corrections are the most difficult trading conditions for a trend trader).

Not a criticism...LOL
  • #1,513
  • Edited 1:54am Jan 14, 2008 12:25am | Edited 1:54am
Jacko, you are indeed a very generous man by sharing your success strategy with the newbies. Most big traders won't care to share, no to say doing it for free and yet taking shots sometimes. My salute to your selfless efforts here to help the newer traders. I am new to the forum, but I have traded for a few years and I totally agree with your strategy of trading with the major trend. That is a sure way to win, and win big too. You are definitely a successful and disciplined trader. Hope some of us learn such trading habits. One question I have is, with a strong near-termed trend in the same direction of the long-term trend, the retracements many times just touch the 38.2% FIBO line and then reverse back to the trend. Waiting for the 50% line can miss these opportunites. Do you ever see any merits trading the 38.2% line and if so, do you have any guideline? (hmmm, your anti-hedge strategy may answer my question )

He (http://i47.photobucket.com/albums/f179/funfish1137/eurusddaily.gif[/IMG]ere)re is the weekly chart showing the reversal at 38.2%
http://i47.photobucket.com/albums/f1...urusddaily.gif


Sorry it is my first post. Not sure how to post a chart correctly and with the right size.


Once again, thanks for sharing generously.

Regards,
Bill
  • #1,514
  • Jan 14, 2008 3:52am Jan 14, 2008 3:52am
Quoting Archer
Fab,
Please explain why you have such non-critical feelings about Jacko's system. Although it sounds a bit critical from your bash and run post. I'll give you a chance to post why you think we will lose money.

Archer
Hi Archer,
Jacko has already exposed his method to the world. What can I win to simply criticize it ? Had it been a criticism, it's not an attack to your group. I just want to try to debate the how and the why of this method with you to understand the risk, recognize it and face it.
It's seems that each time someone is trying to be constructive on this thread, it is perceived exactly the opposite. If it is not the right place to debate about Jacko's method, tell me why this thread is still useful. Simply to appease ego needs ? My two cents, stay away from ego and greed.
So, I'll pick up my second chance not to explain what I've not said (you missread) but just to tell that:
Firstly, each an every method, how brillant it could be, will suffer (temporary) pullbacks. Moreover, as you compare this experiment the original turtles one, I remember you that Richard Denis method is no worth nowadays. Denis lost half of his stack and he had strict money management rules.
Secondly, with all the respect I have for Jacko, his method is too simple for not have been in use by someone else for decades. I wish you all that Paul Tudor Jones has been using the same if you see what I mean.
Thirdly, Jacko's method has already evolved in the past and I'm sure it will again. Why is it so a rude thing to speak about it ?

Finally, I have a true interest in this method but it's not greed. I'm trying to be a Jacko's follower not a Jacko's sucker.

ps.: English is not my mother tongue, I had to use a translator to understand what "bash and run" means. If some of my post seem to be rude that's because I don't have time to find the right words.


Fabrice
  • #1,515
  • Jan 14, 2008 4:41am Jan 14, 2008 4:41am
Quoting Fab
Hi Archer,
Jacko has already exposed his method to the world. What can I win to simply criticize it ? Had it been a criticism, it's not an attack to your group. I just want to try to debate the how and the why of this method with you to understand the risk, recognize it and face it.
It's seems that each time someone is trying to be constructive on this thread, it is perceived exactly the opposite. If it is not the right place to debate about Jacko's method, tell me why this thread is still useful. Simply to appease ego needs ? My two cents, stay away from ego and greed.
So, I'll pick up my second chance not to explain what I've not said (you missread) but just to tell that:
Firstly, each an every method, how brillant it could be, will suffer (temporary) pullbacks. Moreover, as you compare this experiment the original turtles one, I remember you that Richard Denis method is no worth nowadays. Denis lost half of his stack and he had strict money management rules.
Secondly, with all the respect I have for Jacko, his method is too simple for not have been in use by someone else for decades. I wish you all that Paul Tudor Jones has been using the same if you see what I mean.
Thirdly, Jacko's method has already evolved in the past and I'm sure it will again. Why is it so a rude thing to speak about it ?

Finally, I have a true interest in this method but it's not greed. I'm trying to be a Jacko's follower not a Jacko's sucker.

ps.: English is not my mother tongue, I had to use a translator to understand what "bash and run" means. If some of my post seem to be rude that's because I don't have time to find the right words.


Fabrice
Good post Fab, I also think it's important to have some constructive dialogue and not take the system as gospel. Perhaps this is not the thread to do so, however no one has proposed an alternative as of yet.

Finally, as I have also been a student of foreign language, I understand that there may be some difficulty for you to capture the subtleties of English. Your tone came off as a bit acrimonious, although perhaps not intended.


Here's to a good discussion to make the system even BETTER. I'm still in the demoing stages, and looking to make it right for my style.
  • #1,516
  • Jan 14, 2008 9:55am Jan 14, 2008 9:55am
I've been following this thread since its inception and have profited both in understanding and pips.

I'm very clear on the anti-hedging concept but am not so clear on where to re-enter after being stopped out for a profit.

Would someone be so kind as to enlighten me or direct me to a post that speaks to this question?

Thank you
Old Benjamin was right
  • #1,517
  • Edited 11:42am Jan 14, 2008 11:37am | Edited 11:42am
Quoting Lou G
I've been following this thread since its inception and have profited both in understanding and pips.

I'm very clear on the anti-hedging concept but am not so clear on where to re-enter after being stopped out for a profit.

Would someone be so kind as to enlighten me or direct me to a post that speaks to this question?

Thank you
You will enter a trade on another setup. The AH strategy is only used when stopped out for a loss and not for a profit.
  • #1,518
  • Edited 12:45pm Jan 14, 2008 12:28pm | Edited 12:45pm
I am new to this thread so my understanding of the AH is only to the extend of the posts I have read so far (still trying to catch up reading thousands of posts from #1). Many posters seem to wonder about when to enter the stopped out trade. I think Jacko has given us the simplest formula so that we do not miss the reversal while we are not paying attention to the market. But active traders can probably use their discretion to enter at a price closer to the reversal point, judging by reading the hesitation at the major FIBO lines and the recent news causing the reversal. We are seeing the reversal at 38.2% FIBO line now. Jacko is more conservative than most traders. He trades big lots so he is in no hurry to re-enter trade until he sees a great point of reentry, like the reversal at 50% line or the support by the trend line. But to newer traders, the steps outlined in the AH strategy simplifies the re-entry for them. Not too many people can read the market turning point as well as Jacko. My understanding of the strategy is limited at this stage, so if my assessment of the AH is wrong, I apologize. My humbe 2 cents.
  • #1,519
  • Jan 14, 2008 12:29pm Jan 14, 2008 12:29pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Lou G
I've been following this thread since its inception and have profited both in understanding and pips.

I'm very clear on the anti-hedging concept but am not so clear on where to re-enter after being stopped out for a profit.

Would someone be so kind as to enlighten me or direct me to a post that speaks to this question?

Thank you

Hi Lou
first ask yourself how you entered the first trade. this should answer the question.

in essence, once you have been stopped out in profit, thats the end of that trade - it's done, finished, ended.

you then review your charts and look at them in just the same way you did for the first entry - Trendlines, Fibs and round numbers. you managed it once you can do it again.

Unfortunately there is no one post that hi-lights the entry method, there are many, page one talks about the fib's TL and round numbers and then you will find throughout the thread Q&A about entry. this thread is well worth reading again, but this time copy the posts with the answers and info so you won't have to read the whole thread again.

best of pips

MPP
  • #1,520
  • Jan 14, 2008 1:41pm Jan 14, 2008 1:41pm
What a great thread and what a great teacher Jacko is. Thanks for opening my eyes to the simplicity of trading successfully.

The one thing that is still a slight mystery to me though is where do you draw the fib lines from. Put five people in a room with the same charts, and they'll draw 5 different sets of fib lines. Are there any hard and fast rules for drawing them?
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