Jacko's Forex House of Pleasure and Pain

Boys and Girls..... Jacko is on a vacation.

There's been a ton of movement today, I hope people were able to make some pips. Using Jacko's method and some trend following techniques of my own I racked in a ton of pips today. This is the most trading I've done on a Sunday ever.

JOHNDOE,

VACATION.... Tks for that, but???? Anyway I did read your post from 2006 ref MONOPLY & a cashless society...............what about a O W O to go along with that????????? Its coming as well. Any views you can PM me So AS NOT TO CLOG THREAD.

ACE

I believe he is taking a purposeful short break from trading.

OCELOT,

Outstanding my friend & that is what I have been saying................A GREAT METHOD when the rules are followed. TRENDFOLLOWING TO THE MAX. TKS for your post & contributions to this thread as they are appreciated. Keep everyone informed as you progress along with this method.

AceTrade

Libertao,

That is probably true & just ignore me as I am just maybe to excited by this method & expecting TOO MUCH FROM JACKO. Tks for you post & your many contibutions as they are most appreciated by me.

AceTrader

Vacationing in the outbacks of Australia where communication MUST be superb...Give the man a deserved break.

EVERYONE SHOULD TEST OUT THIS VERY UNUSUAL AND RARELY USED STRATEGY;

1. buy/ sell ONLY in the direction of the major trend and
2. buy/sell on dips.(Use support lines to guide you as to price...also "round" numbers ... I also use the 50% Fib ratio..)
3. bank your profits


...From post 4 of this forum. Traders, this has NO ambiguity.

I think this market has everyone excited and panicking at the same time

Chill out - there's always tomorrow and remember were here for the long ride not todays quick buck.

trade your charts in the same way you always do. have a plan and stick to it.

if you feel like being more aggresive trade off your 1h charts, i know i missed a good opertunity last week as it didn't make my 50% fib or TL on Friday, but look at today unwinding nicely to give us a good setup for this week.

remember the more the US Fed flaps around the better the buy opertunity for us - just watch for the crazyness of the interest statement tomorrow.

E/U had just a 170+ pip retracement. I don't know if it is a part o a larger daily retracement but I would be very careful at this point. In my opinion good bargain is the level 1.5150 which is about 50% retracement from Feb 7th to Mar 17th rally. But this is only my assumption and I won't trade my assumptions but the chart itself

What do you think guys?

Ocean

PS. Anyone entering longs at the moment?

This has also been a good time for people to practice trading without his guidance, after all we all want to be independant - one day Mrs Jacko is going to make him retire properly and then were will you be

(not aimed at you dcline or anyone specific more a generalisation)

what about setting your charts to show a number of good entry points (1.5700, 1.5600, 1.5550 and 1.5150), then decide which positions you want to trade and making sure your MM will allow it, it would be easy to trade 3 of these positions and AH them that fall if MM is considered and handled correctly.

1.5150 would be great but in this market it's hard to see it heading that low, but you can't rule out bank intervention.

OK so don't trade because it might go against us - better still plan to lose some trades and except the lose - you can't win 100% of the time, but with this method you can get most back.

If your scared your risk is too high, so trade smaller lots until you feel comfortable.

MPP, Dcline & Ocean

Good to see your post & you all make valid points. I'm still on the sideline for now as a retracement lower could still be developing, but I'm just not sure. I'm looking for now the 5750, 5700, 5650 & 5600 levels & to see which
one will offer another bounce to maybe send it to the 1.6000 level & over. At these levels much CAUTION IS NEEDED. Tks again for your views & comments as I am learning from each.

AceTrader

Went long @ 1.5700 here.

Stopped out @ 1.5740 w/ 50 pips trailing stop.

MPP and acetrader,

Maybe you are right. I should look for good entry but not as low as 1.5150. E/U is very volatile now and we all must be very careful at the moment. Thank you for sharing your view.

Ocean

ahaha... We both got more less that the same result...... just behind u 2 pips. Buy limit @ 1.5700 with trailing stop 50pips... stopped out @ 1.5738. I should get maxs 200 pips if I'm monitoring the trade earlier. Anyway happy trading.

Seems like a nice trade. The 1.5700 was roughly also a 50% fib retracement (1.5717) + it never went much lover from the previous upside gap.


A very nice trade indeed.

I have stayed on the sideline today & will do so until the trend regains its strength. The 5750, if it gives just might open up to higher levels. It appears the 5700 level has held the downside for today, but will it continue to hold??? Keeping stops in place is the only way to protect ourselves.

AceTrader

Hi Acetrader,

I know that there was no malice in your post.

However, I have just returned from the wilderness of the "OutBack" in Australia last night. An excellent holiday. To those who know Australia, we spent most of our time in Kakadu National Park (an amazing place!!)....I can assure you that there is no wi-fi connection in that 20,000 square kilometres of true natural beauty.

An excellent time was had by my wife and I. (It used to be that if I looked at another woman, Mrs Jacko said "no sex !!!"...now, if I take a laptop computer on holidays she says the same thing...LOL). That's the real reason why I haven't been on the Forum.

Also, my little group of merry men (and the occasional..and very pretty... woman) are doing very well. The two groups know the rules of trading now:

They KNOW:
1. What to do
2. When and how to get in
3. When and how to get out
4. What to do then.

The two groups, especially the older, first group have become accomplished trend traders.

I am really enjoying the two groups and consequently tend to spend more time on the private blog and the 1 to 1 emails.

However, I still pop in here every couple of days to see what is happening.

To anyone who wants to be a successful trader, I still recommend that anyone who is interested in trend trading, to initially read page one of this thread
http://www.forexfactory.com/showthread.php?t=27286

and then this:

http://www.forexfactory.com/showpost.php?p=1431044&postcount=85



If they then wish to fine tune their trend trading then they can ask to join our little group.



.

Hi JACKO,

You are CORRECT AS NO MALICE WAS INTENDED, that was just my big mouth showing I should have been focusing on trading more & posting more positive comments. Please except my sincere apology for those comments. Now on a more positive note.

Even thought we have never met I have gained more from this thread than I have in all my years in the trading business. The information in the first 10 pages of this thread is priceless & should put any new trader & the more expericenced trader on the path to profits.

It is good to hear that you & your wife had a great time on your trip. Getting away is the best way to reenergize your body & mind. I have found keeping your wife happy, is the best way to stay happy.

Overnight I had a limit order hit & am long E/$ @ 5717 for 3 lots. I am still not sure what is next, but without any positive US news I suspect 1.6000 COULD be seen near term, but I could be wrong. I have locked in some nice gain @ this point & am trailing as we go.

JACKO, tks gain for sharing this method & your vast knowledge with everyone. I AM STILL LEARNING AFTER ALL THESE YEARS.

"The Tongue Like A Sharp Knife......Kills Without Drawing Blood"
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AceTrader