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Jacko's Forex House of Pleasure and Pain

  • #2,541
  • Apr 9, 2008 3:21am Apr 9, 2008 3:21am
Yes, I am out. It's times like these that we can lose money trying to guess.
The market reveals who we really are...
  • #2,542
  • Apr 9, 2008 3:28am Apr 9, 2008 3:28am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Trumpcard
so newbie, what would be a good amount in your opinion to start off with? $10,000 enough? what is the difference risking 2% of $10,000 (50 pip stop) therefore trading 4 mini lots versus 0.4 standard lots? A mini account will overcome the disadvantage of assymetrical leverage (up to a certain point). Surely a mini account is better for smaller account sizes until one builds up their pot of gold.
The easiest way to answer this - if it scares you to trade, your risking to much.
$10,000 on a mini is fine just stick to the 2% rule of thumb, then when your in profit and comfortable with the method increase your trade size - but only if your confortable with the risk.
  • #2,543
  • Apr 9, 2008 4:05am Apr 9, 2008 4:05am
Hello!

Absolutely wonderful thread!
Jacko`s strategy is really something!

Greetings from Norway
  • #2,544
  • Apr 9, 2008 5:24am Apr 9, 2008 5:24am
At this time it does appear 5700 is holding the downside, but I'm just not so sure. I will still stay out & those that are advocating staying out I second your idea as it is just too uncertain @ this time. You have got to know when to HOLD THEM , FOLD THEM & when to STAY OUT. There have been some
really great post made in the last few days................keep those coming.

Not much else I can add, but I still look to 5600-5650 as probable support levels from which a resumption of the up trend COULD BE SEEN, BUT I COULD BE WRONG.Best trades to all.

_________________________
AceTrader
  • #2,545
  • Apr 9, 2008 6:26am Apr 9, 2008 6:26am
Quoting acetrader
At this time it does appear 5700 is holding the downside, but I'm just not so sure. I will still stay out & those that are advocating staying out I second your idea as it is just too uncertain @ this time. You have got to know when to HOLD THEM , FOLD THEM & when to STAY OUT. There have been some
really great post made in the last few days................keep those coming.

Not much else I can add, but I still look to 5600-5650 as probable support levels from which a resumption of the up trend COULD BE SEEN, BUT I COULD BE WRONG.Best trades to all.

_________________________
AceTrader
Yup, I agree. I'll do a short-term trade @ the 1.5650 level. 50 pip TSL and a 50 pip target (even if the analysis of my previous trades suggest I should NOT close my trades manually, but let the TSL finish the job). That's my current plan. We have there a 50% fib, a trendline and a possible support level. But the market feels heavy so I wont be risking too much... 2% only... And I'm taking my (possible) profits.

But I'm thinking on placing a buy order @ 1.5850 as well... just in case, if we'll see a sudden breakout.
  • #2,546
  • Apr 9, 2008 6:35am Apr 9, 2008 6:35am
Hi Hendrix,

That is about what I am considering myself as a game plan. Only time will tell what is next. A view from JACKO would great about now. Standing on the sideline watching the game unfold for now. Tks for your valued post.

Acetrader
  • #2,547
  • Apr 9, 2008 7:23am Apr 9, 2008 7:23am
I second that. The trading environment is awful and annoying. I think until tomorrow past rate decisions I will stay out. However, even on 4H euro is still on an upward sloping TL, so if I were to enter a position, i Definitely wouldnt sell.

Quoting acetrader
Hi Hendrix,

That is about what I am considering myself as a game plan. Only time will tell what is next. A view from JACKO would great about now. Standing on the sideline watching the game unfold for now. Tks for your valued post.

Acetrader
We leave no soldier behind.
  • #2,548
  • Apr 9, 2008 8:11am Apr 9, 2008 8:11am
Quoting newbietrader101
A secret. Jacko does NOT trade mini accounts. He woudn't know what they are, i am sure. He trades BIG. It sure impresed me when I saw him trade. Amazingly cool and poker. Have a look at the thred below.
Yep, He is amazing. I read up to about page 60 of this thread before I had to skip to the end.

I sent Jacko of an email the other day to find out some info in regards to 'turtleship' and I hope to hear from him. I have been trading forex for about 12 months. I attended a course in 2007 which I learnt all about charts use, setups and some trading styles. Unfortunatly they were pretty complex, in which you have to set up this and that then wait for this and that to happen they enter the trade this way and set up this to get out radda radda radda and so on.

Ill be honest this method has netted me more pips then ever, and right now I am being more disiplined with the eur consolidating, and I believe it is because I am understanding how this method works, and why there are some many people that believe in it.

I now look forward to a future of being a posible forex traders, however being 26 I understand also that life is long and there is no need to race to earn my first bucks.

Thanks for the feedback newbie, much appreciated
  • #2,549
  • Apr 9, 2008 9:33am Apr 9, 2008 9:33am
Quoting FXfelix
Hello!

Absolutely wonderful thread!
Jacko`s strategy is really something!

Greetings from Norway
Thanks for your kind words

Jacko
  • #2,550
  • Apr 9, 2008 9:36am Apr 9, 2008 9:36am
Quoting geoffrod
I have followed jacko before he offered to help his first group, i wasn't in a position to do so then, but have taken steps to be in a position now, i look forward to his teachings and hope i can become a better trader with his help.
cheers
geoff
Hi Geoff,

This is to say that you are acknowledged and that I also hope that you become a better trader.

Jacko
  • #2,551
  • Apr 9, 2008 9:37am Apr 9, 2008 9:37am
A lot of poeple are talking about the EU starting a correction.

Who here actually believes this is going to happen?
  • #2,552
  • Apr 9, 2008 9:40am Apr 9, 2008 9:40am
Quoting MPP
The easiest way to answer this - if it scares you to trade, your risking to much.
$10,000 on a mini is fine just stick to the 2% rule of thumb, then when your in profit and comfortable with the method increase your trade size - but only if your confortable with the risk.
Hi MPP,

Excellent advice

Jacko
  • #2,553
  • Apr 9, 2008 9:48am Apr 9, 2008 9:48am
Quoting cruze2005
Yep, He is amazing. I read up to about page 60 of this thread before I had to skip to the end.

I sent Jacko of an email the other day to find out some info in regards to 'turtleship' and I hope to hear from him. I have been trading forex for about 12 months. I attended a course in 2007 which I learnt all about charts use, setups and some trading styles. Unfortunatly they were pretty complex, in which you have to set up this and that then wait for this and that to happen they enter the trade this way and set up this to get out radda radda radda and so on.

Ill be honest this method has netted me more pips then ever, and right now I am being more disiplined with the eur consolidating, and I believe it is because I am understanding how this method works, and why there are some many people that believe in it.

I now look forward to a future of being a posible forex traders, however being 26 I understand also that life is long and there is no need to race to earn my first bucks.

Thanks for the feedback newbie, much appreciated

Hi cruze,

I am sorry but my computer was attacked and disabled by a virus on April 1.

Could you please re-send the email. (I don't want you to think I have been rude and simply not answered your email). Also tell me that you are cruze.



Jacko
  • #2,554
  • Apr 9, 2008 11:02am Apr 9, 2008 11:02am
I am very proud to say that I am a member of Jacko's first group.

Before joining the group I've had studied forex and had been "trying" to trade for many long months.

All I got was a frustrating sentiment all the time the market went against me... How could that be possible? I used all these pretty, colorful and intelligent indicators... I studied so hard, read so much... Even though I made some profits every now and then, I was more consistent about losing money, bit by bit. Or pip by pip.

I remember I was glad for using a very strict money management from the begining. At least all the reading gave this very important guideline.

And to finish the deal, my broker back then declared bankrupcy and run with all my money. All the money I preciouslly saved from hard work. Gone. Klaus Richter and NEUIMEX are names I will never forget. S** of BIT**!!!

How would I get on track again?

Right after this I accidentally got to this thread. It made my eyes shine and really captivated my attention. Read about 95 pages in a row when I got to Jacko's idea of criating a group of traders that would learn directly from him.

So, I took the last bit of money I had, the amount I had for emergencies and swore to save it no matter what, and opened a new account in a real and well-established broker and sent the U$500 to Jacko to show my commitment.

I all had was faith. And a very burning desire to learn to be a consistent trader. This is really what I want to do.

...

Today I fell like a completelly diferent person regarding trading. How could I not see that giant pink elephant sat on my couch just beside me? Even the things I read before now have a new meaning.

I am still using a very strict money management and learning. But now I know what to do! I am more experienced. More confident. Confident enough to say to myself that the market today feels sideways and that I am not doing a counter-trade that Jacko himself traded. Let see how the market flows tomorrow by the time Europe and US open.

And yet, every time I read this thread and Jacko's private blog I learn more. That's priceless. It feels like it just a matter of time before I get my dreams to come true. It might even take some years, but I know what I want and how to get it.

For all this I thank Jacko, his wife, Mark and Newbie.

Good trading to all.

Leonardo

...

"We are always at the right place, at the right time, going through the things we must go through - that consciouslly or unconsciouslly we chose - in order to continue our process of self-evolution." Chico Xavier
  • #2,555
  • Apr 9, 2008 11:09am Apr 9, 2008 11:09am
Quoting Elfow
...How could I not see that giant pink elephant sat on my couch just beside me? Even the things I read before now have a new meaning.
Word...
Live From Los Angeles
  • #2,556
  • Apr 9, 2008 11:15am Apr 9, 2008 11:15am
Long on the round number 1.5800. Watched since Thursday and am seeing higher highs and higher lows.

We will what happens....

Sean
  • #2,557
  • Apr 9, 2008 11:17am Apr 9, 2008 11:17am
i shorted at 5809

Quoting seanchicago
Long on the round number 1.5800. Watched since Thursday and am seeing higher highs and higher lows.

We will what happens....

Sean
  • #2,558
  • Apr 9, 2008 11:17am Apr 9, 2008 11:17am
It seems that Bernake's speeches are the most powerful force in the land of Forex. He speaks again tomorrow. If I had guts, I'd go LONG now and wait for that 1.5900 to happen. I'm saying this only half jokingly...
  • #2,559
  • Apr 9, 2008 11:32am Apr 9, 2008 11:32am
looks like it will break 5850 watch the sudden surge up.. i have very tight stop loss at 5817

not a single red candle on H1

thats it.. stopped out
  • #2,560
  • Apr 9, 2008 11:40am Apr 9, 2008 11:40am
Quoting Elfow
I am very proud to say that I am a member of Jacko's first group.

Before joining the group I've had studied forex and had been "trying" to trade for many long months.

All I got was a frustrating sentiment all the time the market went against me... How could that be possible? I used all these pretty, colorful and intelligent indicators... I studied so hard, read so much... Even though I made some profits every now and then, I was more consistent about losing money, bit by bit. Or pip by pip.

I remember I was glad for using a very strict money management from the begining. At least all the reading gave this very important guideline.

And to finish the deal, my broker back then declared bankrupcy and run with all my money. All the money I preciouslly saved from hard work. Gone. Klaus Richter and NEUIMEX are names I will never forget. S** of BIT**!!!

How would I get on track again?

Right after this I accidentally got to this thread. It made my eyes shine and really captivated my attention. Read about 95 pages in a row when I got to Jacko's idea of criating a group of traders that would learn directly from him.

So, I took the last bit of money I had, the amount I had for emergencies and swore to save it no matter what, and opened a new account in a real and well-established broker and sent the U$500 to Jacko to show my commitment.

I all had was faith. And a very burning desire to learn to be a consistent trader. This is really what I want to do.

...

Today I fell like a completelly diferent person regarding trading. How could I not see that giant pink elephant sat on my couch just beside me? Even the things I read before now have a new meaning.

I am still using a very strict money management and learning. But now I know what to do! I am more experienced. More confident. Confident enough to say to myself that the market today feels sideways and that I am not doing a counter-trade that Jacko himself traded. Let see how the market flows tomorrow by the time Europe and US open.

And yet, every time I read this thread and Jacko's private blog I learn more. That's priceless. It feels like it just a matter of time before I get my dreams to come true. It might even take some years, but I know what I want and how to get it.

For all this I thank Jacko, his wife, Mark and Newbie.

Good trading to all.

Leonardo

...

"We are always at the right place, at the right time, going through the things we must go through - that consciouslly or unconsciouslly we chose - in order to continue our process of self-evolution." Chico Xavier
Hi Elfow!

I am also in Jacko's first group and I trade since around 5 years and it was the best decission I ever made in my trading. AN YES I KNOW YOUR FEELINGS ABOUT NEUIMEX, I ALSO LOST MY A LOT OF MONEY BECAUSE OF THIS NICE BROKER!!!!!

Erkro
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