Jacko's Forex House of Pleasure and Pain

just wondering if anyone here is actually sticking to original Jacko rules as stated in the first few posts of this thread? otherwise I feel this thread may end up becoming just like every other one with posters posting every willy nilly trade based on whatever... I wanna see some pure Jacko trades based off fibs, round numbers, AHS!

Wow by just 1 pip sorry to hear about that, ODL pick it up for me with no problems with a 2 pip spread...

Care to post your trades and charts for us to critic too, come on don't be shy lurker...LOL!

I've finished reading this entire thread, took a while but certainly worth it.I also took a couple of demo trades this week with good results 112pips on the 1st trade and 134pips on the 2nd. Both trades based on 50% fibs off the 4hr chart and only buys in the direction of the main up trend.
The simplicity of how Jacko looks at the market is so refreshing when compared to the usual indicator based strategies.
Does anyone know if access to the trading room is available to all or is it on a preferential basis?

I am still in from 5855 from last date & still expecting the 1.6000 to be hit. There is not much good news for the USD @ this point, so I see no need to be anything but long E/$. Greenspan might well be onto something with his view on any impeding recession. There is little doubt the USD has lost some of its strength over the last several years.

If 5900 cannot hold as support I will consider tp & waiting for a better entry price, but I'm holding out on this trade for the 1.6000 to print. Profits are locked in & now patiently waiting to see what happens.

In reference to following the JACKO RULES as stated in the beginning of this thread......I am still following those rules, but did several weeks back put to use the 100 pip stop & Jacko it appears uses that as well. The rules are sound & if followed you will profits. This is about as simple & concise as trading can be. No indicators are needed & nothing is that complicated about this method. The problem for some is its TOO SIMPLE & HAS NO INDICATORS TO FUSS WITH. Best trades to all.


_______________
AceTrader

It's pretty much by the rules of Jacko. Thought not everyone trades the same, and most here overtrade or trade more aggresively, others might bend the rules a little to suit themselves. This thread did not get out of the line yet.

I am new and trying to trade with Jacko's rules. I was thinking about placing a buy order this morning when 5900 got hit and then price raced up to 5930 and 5950. So I missed that one.

In the meantime I have been looking at other pairs looking for obvious trends. I know Jacko himself says you can apply this method to any pair or any market which trends.

So I am tryign to be patient and spend this time waiting looking at other markets. Hopefully price will race back down towards 5900 soon and I can get in there.....

50% of the last 4h swing, will it hold?

Anyone have anyword as to what is going on?

I guess the NY session pulled out their secret weapon, go go gadget bloated dollar...LOL! :surprised

long 1.5850

hitting 4h trendline from way back. Pretty confident it wont go lover.

Euro Cannot Become Main Reserve Currency: Soros

EURO, DOLLAR, SOROS, ECB
By Reuters

Reuters
| 17 Apr 2008 | 07:40 AM ET

The euro cannot replace the dollar as the world's main reserve currency, and a system of two reserve currencies would be unstable, billionaire investor George Soros said on Thursday.
"I don't think the euro can replace the dollar, and a system with two major reserve currencies is not a stable system," Soros said.
The euro has surged to record highs against the U.S. currency as the U.S. economy is seen going into recession.
"What we have now is a period of instability and heightened uncertainty," Soros said.
He was in Brussels to promote his latest book, "The New Paradigm for Financial Markets: The Credit Crisis of 2008 and What It Means."
It was still a time of wealth destruction, Soros said, and he advised investors to find ways to preserve capital until it was clear how the authorities and markets would respond.

He said the main lesson from the current financial market turmoil was the need to control credit and not just money supply, and added that markets were not yet out of trouble.
"There is a commodities bubble still in the growth phase while other bubbles are being deflated," Soros said.
Soros said a key remedy to the current crisis of confidence among banks would be to move trading in complex securitised products such as collateralised debt obligations and swaps onto exchanges to boost transparency in counterparty risk.
"It would be desirable to regulate it. You need to have transparency on excessive use of leverage by participants. The root of the trouble is excessive leverage based on failure to recognise the uncertainty inherent in the system," he said.
Soros said hedge funds needed to be regulated like other market participants, with banks having better information about the amount of leverage hedge funds used.
"Banks need to have more reserves when lending to hedge funds," Soros said.
Copyright 2008 Reuters. Click for restrictions.
URL: http://www.cnbc.com/id/24178712/ (http://www.cnbc.com/id/24178712/)

Leave your brain at the door.

I have missed so many apportunities because I get confused by all the noise about the market. News events and "smart" people opinions. Just stick to the trend, follow the rules... S/L will get you out at worst.
Surpise, currently trend is up.

Anyone buying again at 1.5900.
I had a fib drawn from the low on monday and price came pretty close to the 50% of that move up and a trend line was in the near vacinity as well.
I have an AH at 1.5928 waiting to be reserected, so we will see what happens.
cheers
geoff

I'm long from 1.5870 (50% Fib). Will see where this 1H candle closes.

Ocean

my overnite order at 5865 was hit ( 50% ret,TD`s ),but it probably gonna test 5850 again...

I guess it worked out since you did not get picked up @ 1.5900 and now here comes the second possible ride up...

Euro Bull's back with a vengeance.

Exactly but I gave 24 pips back on the breakout. Glad I closed this trade on my gut feeling and saved 76 pips.

Let's ride this bull

Ocean

I got in at 5865 and have moved my stop to BE. If it heads back down to there I will get stopped out. 50 points breathing room is enough for now is what I say. I'm lucky I missed the 5900 touch earlier today although 5850 would have been very nice.

surprisingly, Jacko himself was bearish before the break of 1.5900, thats why I wasnt confident about the break I suppose he must be bullish right now.
I would really love if Jacko could give us some insights about his medium term view, like he used to give before.