Thank you Ocean,
your post is very helpful!
your post is very helpful!
Chicky's House of Pleasure and Pain 11 replies
Carry Backet w/ Jacko's AH 10 replies
Hello Guys is a pleasure to be here. I'm new to MT4 1 reply
Jacko's P&P Trend Trading Method 73 replies
DislikedHaving been a "Lurker" to this thread for a while with a few posts here and currently using Jacko's methodology, and every so often needing to refresh up on just what to do in a given situation that is new to me, I have compiled the beginning of this thread in PDF as a quick reference for me and I have posted it here for all.
The biggest thing I have gotten out of this thread is that Jacko is trying to make you think on your own and trade on your own. It's the old "give a man (or woman) a fish and they eat for a day, teach them to fish", you know the rest. The methodology is the fishing pole, forex is the fish. I would bet that 95% or more of what is required to trade effectively is right here.
Happy trading.Ignored
DislikedI read the whole thread and Jacko's blog. The first page even several times before I even started to post here.
I quoted above where he talked about trading EUR/USD. This does not include a strict statement regarding other currency pairs.
Please be patient with people like me who want to learn and profit from the method.
Finally, if everything is in the first page and the rest of the discussion is "noise" the idea of a discussion forum would not the best here and a closed thread would be best if people are not encouraged to ask legitimate questions regarding the method.Ignored
DislikedThe other advantage to the EUR/USD pair is it has the tightest spread.... more money in your pocket.$$$$$$$Ignored
DislikedHere's some nice reading to calm yourself after such a hectic week.
The Market and the Ocean
The Market is like the Ocean in many ways.
Both are eternal. They were there before I was born and they will be there long after I’m gone.
The Market moves in waves just as the Ocean does. Trends are like the tides: after an up trend there will be a downtrend, then another up trend, ad infinitum.
A volatile Market is like a stormy Ocean. When the Market becomes wildly volatile, get out and stay out, just as you would when the Ocean is raging.
The Market does what it will do regardless of what I want it to do. I have as much influence on the Market as I do on the Ocean.
The greatest danger of the Market is when you are in over your head, just as the Ocean presents the greatest danger when your feet are off the ground.
The Market is full of sharks, just like the Ocean. If you understand their behavior, you can safely be around them, but it doesn’t mean you can play with them.
If you panic while in the Ocean, you will die. If you panic while in the Market, you will die a financial death.
I can go to the Ocean everyday and fill up a small cup with water. The amount of water I take is inconsequential to the Ocean. But everyday I take my cup home and empty it into a barrel. Even if I miss days or lose my water on the way home, eventually the barrel will be full. If I try to take my barrel to the Ocean and fill it, I will only invite disaster. The Market is the same way.
Be content with my small cup of water when I get it home.
Just as the Ocean is always there, the Market will always be there. The opportunities to enjoy and benefit from both are endless. Remember this at all times and the fear and greed will disappear.Ignored
DislikedAt the moment or alltogether?
Are you sure, Jacko restricts this method to Eur/ Usd and when the market stops trending in a longterm-timeframe his method is obsolet for an unknown time of possibly several months or years?
Are there any plausible arguments against using the method in other pairs?
This is news for me, so far I thought Eur/Usd long is his first choice due to the strong trend and maybe some fundamental reasons.
P.S. Does he still contribute to this thread from time to time?Ignored
DislikedFellow Traders,
Very interesting article in this weekend's Barrons regarding the future of the US dollar and the Euro also.
In the event this trend does not continue, it will be difficult to trade Jacko's system, food for thought for everyone here.
When Central Banks intervene, you can forgot prior history, charts, and techs.
US companies who have 50% or more of their earnings internationally have profited from a cheap dollar as noted in the article.Ignored
DislikedTrader John,
So Trader John, you are coming across as more wise than Jacko - have you made $millions more than Jacko? I doubt it.
Jacko's system works whether the trend is UP or DOWN - Jacko knows more about the fundamentals of the US$ than you know about picking your nose!
He has traded his system in both a BEAR market and a BULL market and made $millions. He tells us, based on his take of the fundamentals (which is far better than anyone on this Forum or any other media reporting site that I can think of) where the market is heading. As of now, he is STILL confirming a BULL trend.
If you think you know more than Jacko, then bugger off and start your own thread!Ignored
DislikedWho am I ??
I started trading Forex about a year ago. Have traded futures for much longer (15+ years?).
Started a trading journal at DailyFX in Feb 2006.(ONLY FOR PEOPLE IN LIVE TRADES-Jacko's Pleasure and Pain conversations).
http://www.learncurrencytrading.com/fxforum/showthread.php?t=2373
Lost interest there when a lot of young aggressive newbies came in.
This seems a more rational forum.
On that Forum I traded live time for about six months and, as was seen by all who followed those trades, was very successful in my trading. If you have read that journal, you will know that it was "live time trading" and there was no possibility of any B.S. because I (and others) were all posting as we traded. If we had tried to B.S. then everyone would have jumped on us. Initially, I started with very small numbers of standard lots, but as I started to make very serious money, I stepped up my trading volumes and eventually found my ideal comfort level. I am still trading those large lot numbers.
I trade a little differently now than in my original trading pattern. I trade longer term, and trade on average only about twice a week. Less stressful, more profitable.
I am an American who now resides in Asia. I am amazed and angry at how stupid our Government and businesses has been.
I watch, almost on a daily basis, the growth of the Asian economies and realised some time ago that ole George and his recent predecessors have squandered the enormous wealth of America on foolish follies.
China will overtake the US as a world manufacturing economic power sooner than everyone expects.Ignored
DislikedI'd have to agree. There's so much fighting and bickering going on in this thread, more time should be spent learning and trading. No one needs to prove anything to anyone. Remember, you can have a million reasons why you think the market should go up or down but in the end, the market decides NOT you.
I also don't see why everyone has to post what price they entered at or how many pips they made. In the interest of those learning how to trade this method, maybe it's best to focus on what areas to enter at and why.Ignored