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Jacko's Forex House of Pleasure and Pain

  • #1,921
  • Mar 19, 2008 3:01am Mar 19, 2008 3:01am
My buy limit has not been triggered. Will look and see where to get in.
  • #1,922
  • Mar 19, 2008 4:10am Mar 19, 2008 4:10am
In at 5656 when it tested 5600 earlier, got 50 locked in.
  • #1,923
  • Mar 19, 2008 4:52am Mar 19, 2008 4:52am
Hello EveryOne,

Let the market come to you is exactly how I have understood JACKO'S RULES & that will work. Overnight my E/$ buy triggered @ 5615 for 4 lots & now I'm trailing those gains. Will not add to those postions as 4 lots is the limit for me until I am sure I have this method clearly ingrained. The question I have now, is will PRICE breach the 1.6000 level this time??? I still see the TREND as being on track as that was a nice retrace, but what next?

There are many who are starting to post on this thread & that is great as the more that post the more we can learn. For the most part this thread is staying clean & sticking to the topic & that is great as I have seen so many drift off topic. I know some of you are of members of JACKO'S GROUP & are busy, but it is good to see you post here as well.

I don't want to appear trying to over post, but I just enjoy this method so much & it is so simple & concise that I guess I forgot how much I am posting. This will be the third full week for me trading the JACKO METHOD as I didn't post anything during my first week & two to three extra days, but I have had great success with this method & am ups of 750 pips. I don't like to talk about gains that much as it would appear to some as bragging, but just trying to convey the results I am having & those results are just outstanding.

The trades I post are NOT TO BE CONDIDERED AS TRADING ADVISE, BUT JUST WHAT I AM DOING. The rules are clear, JACKO & other members of this thread are willing to help, so how can we go wrong. A trading method/model that is chart clean with simple rules & mentor that is willing to help not to mention other traders willing to help........how could it get better.

JACKO....I will say......I might have to add some indicators to one chart, because my wife still can't understand what has happened to all the colored
lines that added so much color to the charts. Thanks again to all that post on this thread as I am learning for each one.

"The More Data We Have, The More Likely We Are To Drown In It"

Nassim Taleb
_________________________________________________________

AceTrader

  • #1,924
  • Mar 19, 2008 5:12am Mar 19, 2008 5:12am
LastChance,

That is what I try to do. JACKO said do not CHASE PRICE, so let it come to you. One thing I have really come to understand with this method is PATIENCE & MORE PATIENCE is needed, but that is true with most any method. Having the patience to wait for the best entry will pay off in pips.

I understood this method early on as I have traded similar to this in the past, but was missing the AH part. By adding the Anti-Hedging concept it is really working for me as it will for everyone if the rules are followed & that is the KEY AS NOT EVERYONE WILL FOLLOW THE RULES. NOT FOLLOWING THE RULES IS THE VERY REASON ONLY A FEW ON THE RICHARD DENNIS TURTLES EVER MADE IT ON THEIR OWN.

By early April this method will be my core method using 3-5 lots on each trade & @ times even 10 lots, but 10 will be the max. I will still on other pairs do short term trend trades, but those will be 1-2 lots & lasting hrs - one day max. JACKO'S METHOD offers the best opportunity with the least amount of stress.

_______________
AceTrader
  • #1,925
  • Mar 19, 2008 5:37am Mar 19, 2008 5:37am
Quoting acetrader
...
I don't want to appear trying to over post, but I just enjoy this method so much & it is so simple & concise that I guess I forgot how much I am posting.
...
Ace,

Feel free to post when you feel the need to do so. I find your posts very valuable. As you said:

"as the more that post the more we can learn"

I agree with you completely.

Ocean
  • #1,926
  • Mar 19, 2008 5:50am Mar 19, 2008 5:50am
Ocean,

Thanks for those kind words & I value your post as well.

Ace
  • #1,927
  • Mar 19, 2008 6:39am Mar 19, 2008 6:39am
Quoting acetrader
Ocean,

Thanks for those kind words & I value your post as well.

Ace
I have been reading your posts and there very helpful, have been trading fulltime for 20 years? and do you only trade currencies. Are you self trained?
sorry for asking personal questions.
  • #1,928
  • Mar 19, 2008 7:25am Mar 19, 2008 7:25am
Hello All
First time poster so be gentle! I have been through this great thread a couple of times and have even made 3 live trades using the principles as I have understood them. Very small money at the moment but thought better to win/lose some real money than make $$$$$$ in a virtual world. One question still has me a little confused. I cannot monitor the markets all day so currently I look for 50% retracements, 00 numbers, support areas below the current price and place a buy limit there, in the hope that the price retraces to this point and not to far beyond. Some posts seem to say the approach is to watch for the retracement and when the trend re-establishes itself and is confirmed then place the order. I suspect this is all in ones own view of the style but would be interested in some more expericned views on the rights and wrongs of each approach.
  • #1,929
  • Mar 19, 2008 7:36am Mar 19, 2008 7:36am
Quoting lesterthecat
Some posts seem to say the approach is to watch for the retracement and when the trend re-establishes itself and is confirmed then place the order. I suspect this is all in ones own view of the style but would be interested in some more expericned views on the rights and wrongs of each approach.
For my own comfort level I like to enter a position after a bit of confirmation. Others are more aggressive. In the end you have to run with what's comfortable for you.
Leonardo Follower
  • #1,930
  • Mar 19, 2008 9:07am Mar 19, 2008 9:07am
Quoting lesterthecat
Hello All
First time poster so be gentle! I have been through this great thread a couple of times and have even made 3 live trades using the principles as I have understood them. Very small money at the moment but thought better to win/lose some real money than make $$$$$$ in a virtual world. One question still has me a little confused. I cannot monitor the markets all day so currently I look for 50% retracements, 00 numbers, support areas below the current price and place a buy limit there, in the hope that the price retraces to this point and not to far beyond. Some posts seem to say the approach is to watch for the retracement and when the trend re-establishes itself and is confirmed then place the order. I suspect this is all in ones own view of the style but would be interested in some more expericned views on the rights and wrongs of each approach.
Hi Lesterthecat,

Glad to welcome new member of this thread

I think both approaches are valid, it is up to you which one fits you best. I personally put a buy limit below the price when I feel there will be a smaller retracement, and wait for a confirmation if a larger one has developed. Everything is up to you. You must feel comfortable with the method otherwise you won't apply it.

Ocean
  • #1,931
  • Mar 19, 2008 9:39am Mar 19, 2008 9:39am
Quoting Ocean
Hi Lesterthecat,

Glad to welcome new member of this thread

I think both approaches are valid, it is up to you which one fits you best. I personally put a buy limit below the price when I feel there will be a smaller retracement, and wait for a confirmation if a larger one has developed. Everything is up to you. You must feel comfortable with the method otherwise you won't apply it.

Ocean
Hi Ocean
Thanks for the comments and the welcome. I share the many posts praising the forum and this thread in particular for its support and information to newbies like myself. I too went through the indicator journey when I started looking into trading but fortunately 'saw the light' and ditched them all in favour of the KISS approach. So far 2 out of 3 wins (1 using the AH) and currently long from 1.57. The loss was yesterday when I should have thought more about having an unattended buy limit on a news day. I will learn!
  • #1,932
  • Mar 19, 2008 9:51am Mar 19, 2008 9:51am
Quoting lesterthecat
Hi Ocean
Thanks for the comments and the welcome. I share the many posts praising the forum and this thread in particular for its support and information to newbies like myself. I too went through the indicator journey when I started looking into trading but fortunately 'saw the light' and ditched them all in favour of the KISS approach. So far 2 out of 3 wins (1 using the AH) and currently long from 1.57. The loss was yesterday when I should have thought more about having an unattended buy limit on a news day. I will learn!
Good to know that! Remember, you are learning so keep the bet size small and stick to the rules. After you'll build your self confidence you'll be free to use your full potential.

I wish you a lot of pips.

Ocean

PS. I am currently out of the market.
  • #1,933
  • Mar 19, 2008 1:01pm Mar 19, 2008 1:01pm
Quoting lesterthecat
Some posts seem to say the approach is to watch for the retracement and when the trend re-establishes itself and is confirmed then place the order. I suspect this is all in ones own view of the style but would be interested in some more expericned views on the rights and wrongs of each approach.
Actually...that is the preferred Jacko method....buying off the retracement (or better price below the 50%) and when price is moving in the direction of the trend.
  • #1,934
  • Mar 19, 2008 2:34pm Mar 19, 2008 2:34pm
lower highs and lower lows on my charts. i still believe in the overall uptrent, but I'm curious when this retracement will end. what do you guys think of TEBS worlds simplist system? personally, i'll look for higher lows to confirm price is bouncing back up... but patience is key. what price indications would jacko use to find an entry point when price starts climbing again? and what would be his starting point for the 50% fib retracement level??

ps. i love this thread.
  • #1,935
  • Mar 19, 2008 2:47pm Mar 19, 2008 2:47pm
It looks to me that 1.557 is the 50% area.....But I could be and probably am WRONGGGGG

http://img517.imageshack.us/img517/8...apture3al8.png
Same Whore .... Different Dress
  • #1,936
  • Mar 19, 2008 3:02pm Mar 19, 2008 3:02pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting strautsbros
lower highs and lower lows on my charts. i still believe in the overall uptrent, but I'm curious when this retracement will end. what do you guys think of TEBS worlds simplist system? personally, i'll look for higher lows to confirm price is bouncing back up... but patience is key. what price indications would jacko use to find an entry point when price starts climbing again? and what would be his starting point for the 50% fib retracement level??

ps. i love this thread.
None thats not found in the first few pages of this thread, how to do this is to look at the 4h chart and find the 50% - 1.5600 will it hold or give?, then look at the daily chart for the 50% - 1.5172, i personnaly would trade both with a view to AH the 1.5600 trade if it fails and then i would look at the 1.5172 to see if it holds and enter as low as possible around it looking for 1.5150, now below that we don't see any TL's for a while but the 1.5000 was hard to break and will form massive support.

just my view,

with regards TEB63 - great trader and system, but do you want to work that hard for your money, if your bored and have the time and money then have at it, but get this system under your belt first.
  • #1,937
  • Mar 19, 2008 3:07pm Mar 19, 2008 3:07pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting johnedoe
It looks to me that 1.557 is the 50% area.....But I could be and probably am WRONGGGGG
i make it 1.5592 (H -1.5904, L - 1.5281), yuo don't seem to show the same high as mine!!
  • #1,938
  • Mar 19, 2008 3:16pm Mar 19, 2008 3:16pm
I have a high of 5858, and a low of 5283...... 50% = 5570
ooops yea I don't have the early sunday candle showing....... and with that in mind you are correct...

See I told you I was probably WRONGGGG....
Same Whore .... Different Dress
  • #1,939
  • Mar 19, 2008 3:35pm Mar 19, 2008 3:35pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting johnedoe
I have a high of 5858, and a low of 5283...... 50% = 5570
ooops yea I don't have the early sunday candle showing....... and with that in mind you are correct...

See I told you I was probably WRONGGGG....
it was the asian session high of 1.5904 on monday that i took the high from, i suppose each roker has a different time of opening and this must affect weekend and monday start candles, you might have the better point of entry at 5570.

would be nice if we can get it.
  • #1,940
  • Mar 19, 2008 3:55pm Mar 19, 2008 3:55pm
Quoting MPP
it was the asian session high of 1.5904 on monday that i took the high from, i suppose each roker has a different time of opening and this must affect weekend and monday start candles, you might have the better point of entry at 5570.

would be nice if we can get it.
How does one know the 2 points to pick to determine d 50% retracemt
thx
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