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Jacko's Forex House of Pleasure and Pain

  • #2,881
  • Apr 16, 2008 6:27pm Apr 16, 2008 6:27pm
Quoting Aad
I also agree and it would be great if the true Jacko turtles here would actually bless us with real trading insight (charts would be good) but perhaps they have some secrecy clause. LOL!

I'm kidding guys so don't get it twisted, but really you guys could easily put an end to the blind leading the blind scenario...
Hi Guys,

I'm in Jacko's second group. I went long at 1.5800 and here's a chart showing why. I had an old trendline drawn from the low of 3.24.08 to 4.2.08 though price had gapped below it last weekend (an unusual occurrence I ignored) it acted again as a support level once price went above and retested that level. Just before the most recent move up, you can see where there were three doji candles sitting right on top of this trendline. This also occurred right at the 1.5800 level and was enough to convince me to go long. For those of you following the james16 thread, I believe they call this 'confluence'. I used a 100 trailing stop and am currently sitting on 131 pips profit and my stop (which I haven't manually adjusted, I let the system do it for me) is protecting 76 pips of profit. I'm looking to add to my position if price falls to somewhere between 1.5850 and 1.5900. Hope this helps.
Attached Image
  • #2,882
  • Apr 16, 2008 7:09pm Apr 16, 2008 7:09pm
Great chart and explanation Ocelot, I was long last night at 1.5814 and today I'm looking to be long at 1.5900, nice round number...
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 4-16-08.gif Size: 28 KB
  • #2,883
  • Apr 16, 2008 8:07pm Apr 16, 2008 8:07pm
A Tale Of Two Cities. In testimony to Congress the Chairman of the Federal Reserve spoke of overseas economies leading the way forward, a reference to China, India, and as a direct US comparison; the Euro-Zone.
The comments defined the difference between the two currencies that make up the Euro Cross Pair; one has a Private Company running the Banking System, one has unemployment rising, one has a negative Trade Balance, one has a Housing Market implosion, one has $9 Trillion of debt, one has a cloud of secrecy shrouding the Central Banks movement, control and flow of money and Reserves; the other is the Euro-Zone and the ECB.
Until clarity comes, and some semblance of order is seen, it seems as though many will remain on the correct side of the Daily Chart Trend; Long Euro’s.

Greenspan Sees Recession
Former Federal Reserve Chairman Allan Greenspan said the U.S. is probably in or about to enter a recession. The odds are "not overwhelming but they are marginally in that direction", Mr. Greenspan said in an interview with The Wall Street Journal.
He went on to note, "the symptoms are clearly there. Recessions don’t happen smoothly. They are usually signaled by a discontinuity in the market place, and the data of recent weeks could very well be characterized in that manner."
Just a shame that the rhetoric that was spun over the years, and the riddled verbal paths walked, were not as concise as this statement.

"A Weaker Dollar Is Good For America". Really?
You would never know.
No good news came from the ‘Weaker Dollar Helps Exports’ story this month. The Trade Balance dropped further into decline, moving from -$59b last month, to -$63b this month. The US is still Importing more than it is Exporting, and with Exports at their highest level ever, the deficit still increased. How weak does the Dollar need to get to right the Imbalance? The cause apparently is in higher Oil prices; that is what is affecting the Trade Imbalance. Other regions have dealt with higher Oil and still not increased their Trade deficit. The US economy will need all of its resolve if it is to stave off a deep cycle of Bust after a 5 year Boom cycle.

  • #2,884
  • Apr 16, 2008 8:41pm Apr 16, 2008 8:41pm
Quoting Aad
I also agree and it would be great if the true Jacko turtles here would actually bless us with real trading insight (charts would be good) but perhaps they have some secrecy clause. LOL!

I'm kidding guys so don't get it twisted, but really you guys could easily put an end to the blind leading the blind scenario...
There is certainly NO secrecy clause. There was no agreement that I had to sign at all. No confidentiality clauses None of that at all. I don't think he would even be concerned if we did talk about his trades here.

But Jacko's teachings are my edge. I aassume that most of the other turtles feel the same.

Jacko's basic methods are freely available and clear to see see on the first page of this thread.
Jacko has been very generous to also allow the turtles into his trading room and mindset every day to see how and why he trades. That stuff to me is priceless.
How much would you pay to be able to do that with Warren Buffett on a daily basis? Jacko's fee is less than a cup of coffee a day

I AM BECOMING AN AWESOME TRADER
  • #2,885
  • Apr 16, 2008 9:33pm Apr 16, 2008 9:33pm
Quoting Aad
I also agree and it would be great if the true Jacko turtles here would actually bless us with real trading insight (charts would be good) but perhaps they have some secrecy clause. LOL!

I'm kidding guys so don't get it twisted, but really you guys could easily put an end to the blind leading the blind scenario...
By the looks of it, Jacko has made it easier for "the blind" to join with those that have invested their money, whether they could afford it or not, to seriously learn his style of trading: http://waynejacksonfx.blogspot.com/. Like the previous poster has stated, the crux of his style can found throughout this thread. For those that want a deeper education or insight like we "turtles" are getting, drop Jacko an email like many others have done.

Happy trading!
  • #2,886
  • Apr 16, 2008 9:57pm Apr 16, 2008 9:57pm
so by joining is jacko sending u trade signals?
  • #2,887
  • Apr 16, 2008 9:58pm Apr 16, 2008 9:58pm
Quoting ownshook
By the looks of it, Jacko has made it easier for "the blind" to join with those that have invested their money, whether they could afford it or not, to seriously learn his style of trading: http://waynejacksonfx.blogspot.com/. Like the previous poster has stated, the crux of his style can found throughout this thread. For those that want a deeper education or insight like we "turtles" are getting, drop Jacko an email like many others have done.

Happy trading!
I have already done that, but basically what I'm saying is that if you guys have something insightful to share like for example Ocelot then don't be shy to do so. Since this is Jacko's thread, Jacko turtles obviously carry more wait on what is shared...
  • #2,888
  • Apr 16, 2008 10:01pm Apr 16, 2008 10:01pm
Quoting slappy
so by joining is jacko sending u trade signals?
He teaches you how he trades so that you can do the same, so no it's not a $500 trade signal service but more like a one on one trading course to Forex success...
  • #2,889
  • Apr 16, 2008 10:06pm Apr 16, 2008 10:06pm
was it helpful for you
  • #2,890
  • Apr 16, 2008 10:28pm Apr 16, 2008 10:28pm
Quoting slappy
was it helpful for you
try reading some posts here befor shooting out a post like this
  • #2,891
  • Apr 16, 2008 10:29pm Apr 16, 2008 10:29pm
Quoting newbietrader101
Yes I have lerned a heap of things that I woud never have lerned from anybody else. how often can you have the chance to watch a real trader who trades 200+ stanard lots of the euro before brekfast and see how he trades and thinks. the 500$ is chicken shit to him. he does the group becos he likes people. why else woud he go out of his way to help traders get a job at a big brokerege company. becos he likes to help people. if he decides to keep mentoring the groups in the future, I will gladly pay the money again. he has become a friend as well as a mentor,even tho I dont see him as much anymore. but i can always email him with a qestion and get an anser.
This was two payges back
  • #2,892
  • Apr 16, 2008 10:32pm Apr 16, 2008 10:32pm
Quoting wattawatta
has it been a profitable experience? ABSOLUTELY

will you continue to pay the yearly fee? ABSOLUTELY

Jacko's group costs $500 for a whole year. I have looked at other training programs for $10,000 that weren't anywhere near as good. They were all theoretical and had disclaimers all over them.

Jacko has shown the basics of how he trades here on FF and before that at DailyFX. How generous is that? There is no hidden traps with Jacko. I have found that when I have asked any question, he has been totally honest and forthright to me.

Am I profitable? Yes, absolutely. and I have learnt to trade in a totally different mindset which is worth more than money.

Will I continue to pay the fee? If Jacko is prepared to put up with me, I would certainly continue with him.

I agree with Newbie, "where else can you have the opportunity to see a successful, BIG, professional trader trade and have him explain how and why he is making that decision."
Jacko must be one of the biggest traders here. How many others trade in the sizes he does? But more importantly, how many traders that big would even consider mentoring a group of traders. And you can see him gradually guiding some into prop trading positions and others into becoming full time traders.

The information in yesterdays blog about "how and why he grew his trading volumes" is priceless. That blog alone was worth the price of the joining fee.
I have been wanting to "grow my business" but was uncertain as to how to do it. Jacko showed us all how a succeessful business person does it.

Jacko is the real deal
This was direcly underneth the other one
  • #2,893
  • Apr 16, 2008 11:48pm Apr 16, 2008 11:48pm
Hello

I just watched as price hit 5900 and bounced right off it. I was thinking about placing an order here. I will wait for now and see what happens.
  • #2,894
  • Apr 16, 2008 11:53pm Apr 16, 2008 11:53pm
Quoting slappy
was it helpful for you
I have not joined his group yet but what I have learned here so far has help me understand Forex better...

Quoting takeprofit
Hello

I just watched as price hit 5900 and bounced right off it. I was thinking about placing an order here. I will wait for now and see what happens.
Yup, my long @ 1.5900 just got picked up so let's see what the Lodon session does with it, it's currently at +30 pips...
  • #2,895
  • Apr 16, 2008 11:58pm Apr 16, 2008 11:58pm
Quoting Aad
Yup, my long @ 1.5900 just got picked up so let's see what the Lodon session does with it, it's currently at + 30pips...
So if you already have another position from 5814 do you trail the stops independantly or as one whole poisition?
  • #2,896
  • Apr 17, 2008 12:06am Apr 17, 2008 12:06am
Quoting takeprofit
So if you already have another position from 5814 do you trail the stops independantly or as one whole poisition?
I closed and took profit from last nights 1.5814 trade way before placing todays 1.5900 trade.

By the way I use the "Swiss Army EA" that automatically handles all my trailing stops or break even points for any number of positions that I may have and managed independently...
  • #2,897
  • Apr 17, 2008 12:07am Apr 17, 2008 12:07am
Quoting Aad
Yup, my long @ 1.5900 just got picked up so let's see what the Lodon session does with it, it's currently at +30 pips...
I bet you are lovin' that trade! You took heat for only about 10 seconds.

Nice going,

Sean
  • #2,898
  • Apr 17, 2008 12:11am Apr 17, 2008 12:11am
Quoting Aad
I closed and took profit from last nights 1.5814 trade way before placing todays 1.5900 trade.

By the way I use the "Swiss Army EA" that automatically handles all my trailing stops or break even points for any number of positions that I may have...
Never heard of that EA. Which broker is this with? I am in the UK and have been using IG index. Currently demo'ing a new acount with ABN-AMRO marketindex.
  • #2,899
  • Apr 17, 2008 12:17am Apr 17, 2008 12:17am
Quoting seanchicago
I bet you are lovin' that trade! You took heat for only about 10 seconds.

Nice going,

Sean
I'm loving the fact that both my Eur/Usd (1.5900) & Gbp/Jpy (200.95) trades are doing okay so far...
  • #2,900
  • Apr 17, 2008 12:19am Apr 17, 2008 12:19am
Quoting takeprofit
Never heard of that EA. Which broker is this with? I am in the UK and have been using IG index. Currently demo'ing a new acount with ABN-AMRO marketindex.
It's a trade management EA for MT4 created by someone maybe at this forum...
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