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Jacko's Forex House of Pleasure and Pain

  • #2,001
  • Mar 24, 2008 12:43am Mar 24, 2008 12:43am
I don't post very much in this thread nor email Jacko much although I am part of the group that Jacko originally started.

I come from a background that included multiple fib levels looking for confluence and it turned me into a fibo artist grabbing every burp looking for a meeting of fib levels. Got to the point I was simply confused.

Now....50% fib...price action....round fat numbers...trendlines....major trend.....a-h when appropriate. Not as many trades but not as many headaches. I still tinker with the old ways still trying to prove that all that time learning was not wasted.....but this method is what I put my money on the line with.

..in other news....the 50% from 1.4794 - 1.5904 is showing some life. Just looking from some PA for the green light.
  • #2,002
  • Mar 24, 2008 12:57am Mar 24, 2008 12:57am
I am a buyer at .5350.
We leave no soldier behind.
  • #2,003
  • Mar 24, 2008 2:49am Mar 24, 2008 2:49am
Quoting gagiul
I am a buyer at .5350.

Yeah, me too. Anyway, I hope that the .5350 will be penetrated first and that I can buy it on the way up. Anyway, if the .5350 and .5300 won't hold, I'll rethink buying again at .5200 or .5150 (50% fib on the daily chart).


I've attached a 4h chart with an obvious trendline. In my opinion, this is a good buying opportunity. But let's wait for the London open.


Oh, btw, I thought the markets will be closed today!! What a surprise.
Attached Image (click to enlarge)
Click to Enlarge Name: 4h.gif Size: 19 KB
  • #2,004
  • Mar 24, 2008 5:11am Mar 24, 2008 5:11am
Quoting ownshook
..in other news....the 50% from 1.4794 - 1.5904 is showing some life. Just looking from some PA for the green light.

To the pip!
The market reveals who we really are...
  • #2,005
  • Mar 24, 2008 5:16am Mar 24, 2008 5:16am
I pick up my first fallen soldier, thanks Jacko
  • #2,006
  • Mar 24, 2008 5:19am Mar 24, 2008 5:19am
bought at 5400 in my first attempt with this strategy...
Liberate me ex inferis
  • #2,007
  • Mar 24, 2008 5:19am Mar 24, 2008 5:19am
Hello EveryOne,

Buy order triggered overnight @5355, but I am still uncertain what will take place today. If 5400 gives that could be a sign of more upside to come. I would have like to have seen 5200 give the bounce up, but it was not to be.

The question now...............Is this a resuming of the TREND, or NOT?

I am seeing more & more traders visit this thread & now starting to see some of them stay & join in. That is great as the more we have to post the more we can learn.

MPP....I agree with your request to keep this thread clean & on topic. Next we'll see INDICATORS being introduced. I am greatful for your views & input as I learn something from each. I think I remember you saying you are a fairly new trader.......I wouldn't know it from your informative post. THANKS.

If 5400 turns into RESISTANCE, that POSSIBLY COULD mean more downside is next, but we'll just have to wait & see. My trade is running & the stops are trailing, so we'll see what is next & trade accordingly.

These are just my views, BUT I COULD BE WRONG.

"The Limits Of Potential Accomplishments Are Defined By One's Sense Of the Possible"
________________________________________________________

AceTrader
  • #2,008
  • Mar 24, 2008 5:20am Mar 24, 2008 5:20am
Quoting jacko
Hi All

Firstly, I want to say that I am really impressed with the positive attitudes and comments on this thread.

Secondly, I have been pleasantly surprised at just how successfully the members of the two groups are trading. The little experiment of allowing other traders into my “trading room “ seems to have had excellent results

The number of traders who are telling me that after months, and sometimes even years, of frantic trading and making losses, they have finally started making serious amounts of money with much less stress and effort.

A small number of the first group have now become professional traders, trading on their own and doing very well. Two have also been invited to join one of the brokers that I deal with as junior prop traders.

As you may recall, I kept the second group very small. However, I am now thinking of increasing the size of the second group.

If anyone is interested in joining our second group of trend traders, please feel free to email me at waynejackson1955 at yahoo.com


.
I am one of these. I am now a trader fulltime. I trade only Eur/USD but I am now tradeing up to 10 X $100,000 contracts. Jacko showed me that ther was no advantage in dealing in other currenciies. I am tradeing full time. ITS GREAT.
best thing I have ever done. I am so free of all those bosses. middle finger to all of them
  • #2,009
  • Mar 24, 2008 6:15am Mar 24, 2008 6:15am
Newbietrader101,

Good to see your post again. When I first found JACKO'S METHOD you really encouraged me to keep reading the thread because you seemed so into the method & was most enthusiastic about its posibilities. I can tell by your posting you have that youthfull approach to trading & I know you will do well.

Starting next week I will be fulltime with JACKO'S METHOD & will trade 5-10 lots on each trade. For now I have set aside 4-5 lots on each trade & have gained many pips over the last 3 weeks. This is an outsatnding way to trade.

Thanks again for your post, as they are an encouragement to each of us.
_____________________
AceTrader
  • #2,010
  • Edited 6:35am Mar 24, 2008 6:19am | Edited 6:35am
Quoting newbietrader101
I am one of these. I am now a trader fulltime. I trade only Eur/USD but I am now tradeing up to 10 X $100,000 contracts. Jacko showed me that ther was no advantage in dealing in other currenciies. I am tradeing full time. ITS GREAT.
best thing I have ever done. I am so free of all those bosses. middle finger to all of them
Thanks for sharing that though I still seem to have a crush on the Guppy, maybe it's got something to do with the strong love and hate relationship...LOL!

Quoting Ronyn76
bought at 5400 in my first attempt with this strategy...
Nice, I'm also in...
Attached Image (click to enlarge)
Click to Enlarge Name: eur-usd 3-24-2008.gif Size: 48 KB
  • #2,011
  • Mar 24, 2008 7:15am Mar 24, 2008 7:15am
Quoting Aad
Thanks for sharing that though I still seem to have a crush on the Guppy, maybe it's got something to do with the strong love and hate relationship...LOL!



Nice, I'm also in...

Hello Aad. Can you post the last indicator you have on your charts please? the one that shows the pair range. Thank you
  • #2,012
  • Mar 24, 2008 7:23am Mar 24, 2008 7:23am
Quoting Miguel
Hello Aad. Can you post the last indicator you have on your charts please? the one that shows the pair range. Thank you
Here ya go...
Attached File(s)
File Type: mq4 Daily Range Calculator.mq4   15 KB | 729 downloads
  • #2,013
  • Mar 24, 2008 7:28am Mar 24, 2008 7:28am
Quoting Aad
Here ya go...

  • #2,014
  • Mar 24, 2008 7:59am Mar 24, 2008 7:59am
Quoting wattawatta
I posted this in another thread but it belongs here now

THE BEST UNIVERSITY IS FOREXFACTORY

THE BEST FACULTY IS THE EUR/USD

THE BEST LECTURER/TUTOR IS JACKO

THE BEST COURSE NOTES ARE JACKO'S HOUSE OF PLEASURE AND PAIN.

THE BEST DECISION I EVER MADE WAS TO JOIN JACKO'S GROUP

I AM BECOMING AN AWESOME TRADER.

NOW THE BEST GRADUATE PLACEMENT OFFICER IS JACKO

I AM BECOMING AN AWESOME TRADER.


Hi Wattawatta,

I like this...BEST GRADUATE PLACEMENT OFFICER ...LOL, maybe I should go and offer my services at some of the campuses.

The truth be known, in late February I had a very boozy night (and till about 4am in the morning) with the head of one of the brokerage companies that I deal with and he asked me if I had any young traders in my group who may be interested in trading for his company.

I emailed three of the group who were young, lived in the States and who I felt were competent traders who might have been interested. They are currently negotiating with the brokerage company I think. (I have just put them into contact with each other...I don't wish to be involved any further...the brokerage wants to see their trading statements, whereas I have no interest in seeing that at all. If it works out for both sets of parties, I will be delighted. My understanding is that two have accepted.)

Having said that, I will follow up later with each of my group to ensure that they are not being eaten by sharks....that is, that they are being treated fairly.


.
  • #2,015
  • Mar 24, 2008 8:36am Mar 24, 2008 8:36am
Quoting jacko
Hi Wattawatta,

I like this...BEST GRADUATE PLACEMENT OFFICER ...LOL, maybe I should go and offer my services at some of the campuses.

The truth be known, in late February I had a very boozy night (and till about 4am in the morning) with the head of one of the brokerage companies that I deal with and he asked me if I had any young traders in my group who may be interested in trading for his company.

I emailed three of the group who were young, lived in the States and who I felt were competent traders who might have been interested. They are currently negotiating with the brokerage company I think. (I have just put them into contact with each other...I don't wish to be involved any further...the brokerage wants to see their trading statements, whereas I have no interest in seeing that at all. If it works out for both sets of parties, I will be delighted. My understanding is that two have accepted.)

Having said that, I will follow up later with each of my group to ensure that they are not being eaten by sharks....that is, that they are being treated fairly.


.
Just out of curiosity, by sharks are we talking about all brokers or non ECN brokers perhaps?...
  • #2,016
  • Mar 24, 2008 8:53am Mar 24, 2008 8:53am
I bought EURUSD at 1.5440 stop 50 pip

so I was stopped out at 1.5390.

then I wait as jacko said to let it go down at least 50 pip, then to put another stop buy at where I was out,

it went down 49 pip at 1.5341 then go up , now is 1.5428.

what should I do now ?

buy at market 1.5428 ?
  • #2,017
  • Mar 24, 2008 9:19am Mar 24, 2008 9:19am
you have to be patient. it will get there. If you buy now again, there are big chances that market will continue south.. and your up for another loss. Patience is key.
  • #2,018
  • Mar 24, 2008 9:22am Mar 24, 2008 9:22am
Hi Jacko,

I read your post about the brokers offering some of the best the opportunity to trade for them & I have just got to wonder why someone with the ability to trade their own money would want to do that? I know two traders that tried that & now they are back doing what they started out doing, trading for themselves. For me trading offers freedom from the rules & regulations that would be place upon a PROP TRADER trading for the brokers. The only thing near trading for a brokerage I would even consider would be starting a small fund, but with that comes many many rules & regulations. Maybe the BROKERAGES made them an offer they just couldn't refuse.

No disrespect intended by this post, but just my views & I could be wrong.

AceTrader
  • #2,019
  • Mar 24, 2008 9:47am Mar 24, 2008 9:47am
I don't think you should look for entry points until it drops to 50% fib line drawn from the bottom of Feb 6th till the max of march 14.

that would be 1.5200..

and even then it might go down and test 1.50 (and Jacko will be backing up his truck to loa up on that good deal ;-))



Quoting hayoo
I bought EURUSD at 1.5440 stop 50 pip

so I was stopped out at 1.5390.

then I wait as jacko said to let it go down at least 50 pip, then to put another stop buy at where I was out,

it went down 49 pip at 1.5341 then go up , now is 1.5428.

what should I do now ?

buy at market 1.5428 ?
  • #2,020
  • Mar 24, 2008 9:50am Mar 24, 2008 9:50am
the only reason would be compensation that they cannot achieve on their own..

Quoting acetrader
Hi Jacko,

I read your post about the brokers offering some of the best the opportunity to trade for them & I have just got to wonder why someone with the ability to trade their own money would want to do that? I know two traders that tried that & now they are back doing what they started out doing, trading for themselves. For me trading offers freedom from the rules & regulations that would be place upon a PROP TRADER trading for the brokers. The only thing near trading for a brokerage I would even consider would be starting a small fund, but with that comes many many rules & regulations. Maybe the BROKERAGES made them an offer they just couldn't refuse.

No disrespect intended by this post, but just my views & I could be wrong.

AceTrader
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