My Story is a simple one...

Hi my name is Jackie, I grew up in Eastern North Carolina in the US. At nine years old my life changed forever when my father suddenly passed away. You can read more about that time in my life on one of my blogs HERE. Some time afterwards my mother met a man who played a fatherly role in my life; although, it contrasted greatly the father I had lost.

This man was a tobacco farmer and I ended up growing up on a farm from 12 years old till I moved away from home. This life experience taught me alot in life. It taught me that, life is short and we are never promised a tomorrow. I went on to college which wasn't easy, at one point I ended up homeless (not on the streets just simply with out a place to call home). I slept on a stranger's couch for a couple of years. These strangers became friends of mine and I will forever be grateful for their generosity. I graduated from Wilson Community College in Wilson NC with a Associates Degree in Nursing. Being a male in a predominately female career field was a great experience. I loved the cancer patients I cared for.

However, during college I knew there was more in life that I wanted to be able to take advantage of. I had started reading and learning on my own about business and investing. I knew that one day I was going learn more about both, and I have. About 3 years after becoming a nurse I ended up starting a home based business. I have done very well working from home. At 28 years old some people would say I live "The American Dream". In a large extent I would say that is true. I earn a great income and I work about 20 to 25 hours a week. Having seen and helped hundreds of other people do the same, something still keeps nagging at me. I will tell you more about that nagging feeling in a moment...

So business and investing have not been my only passions that I have developed. I also have really accquired a love for the game of poker. I have been made aware of lots of people who have been able to play this game online as their sole source of income. I admire people who have worked hard enough to develop that level of skill. I play poker part time, I am not a winning player but, one day I hope to create an additional stream of income from there as well. However, of all the successful poker players around I still see the same thing that nags me about the successful home based business owners.

Most of them are able to create great incomes but they have very little if any skill at how to invest or manage that income. This leads me to where I am today. This motivates me to develop my other skills in investing. I would one day like to combine my business skills and teaching skills that I have for business to investing, primarily forex investing.

So I am currently still very new with forex investing although I have learned alot of the basics there are still alot that I have to learn. I have been reading on this forum for over a year now. I have been doing alot of experimenting with demo accounts. I decided to start this journal as a way to continue to learn about forex investing and to help me keep a better record of my trades.

This journal will be a complilation of my life, my business, my poker, and mostly my forex trades. I look forward to learning alot from your comments, questions, suggestions.

My demo account is currently up 5% in 5 weeks. I trade about 1% on each trade. I trade the six majors. If all goes well this year and I feel confident at the end of the year I plan to trade a live account. The second year if that goes well I will start a incubator fund. If that goes well the third year I will start a hedge fund. Of course this could all go south right now in the first year.

You will get to witness it all first hand... Stay posted for the next trade...

Well thats a long story. Can somebody read it and list the main points?

i read all your sad story since your father passed away and i ope you the best and success in your trade,

Goodluck.

It's just one of those lessons you learn in life. I like to think I have turned it into a very positive one.

In other news... I have opened no new trades today. I am a long term trader who trades mostly off of daily charts.

I was doing some reading on other journals and I came accross Jacko's house of pain. I love his style and I may adopt some things from his trading style to my own. I particularly love his trade with the trend style, which I usually do anyway and his anithedging strategy which I will be trying in the future.

I hope to have something more exciting for you tomorrow.

Jackie

Today so far has been uneventful. All 6 positions are currently open I do have a trailing stop on the Euro that will net me 56 pips if it gets hit.

To tell you alittle bit more about my demo account. I started it the first week of March with $3000. It is now at $3162.42

Tell you what, if you want a short cut to trading success, you could do worse than not just "adopting" some things but actually trading strictly by his rules. Read the first page or so several times. (And ignore the latter pages where people are changing the system to suit them.) Demo trade it for a month. You'll see.

In any case, swing or position trading is the best way forward for newbies. That's why I prefer it, having tried various scalping methods to varying success.

It seems that Jacko really understands what he is doing. His results show that. I actually developed my current style so far from another journal that I have been following for well over a year.

I will continue to pay attention to Jacko and his students. I am always looking to learn as much as I can.

Thanks again,
Jackie

Well, you could note down the trades you place and whether they are strictly Jacko's method or your own. Compare the two after a month or so.

Great suggestion

best thing you will ever do

Just opened a Buy on the Euro with a 50 pip stop loss and trailing stop. I got in at 1.5879. My stop is actually at 1.5877. Let's see where the Euro takes us today!

Happy Pippin,
Jackie

Just placed a buy at .9470 with a trailing stop of 50 pips and a SL of 1000 pips. I like large stop losses because it is very unlikely to get it unless we are in we pretty much reverse the trend.

As soon as we are in the positive 50 pips the trailing stop will kick in to help lock in gains. Now my strategy here is simple. I want to stay in the trade as long as possible and stay in the trend as long as possible. If we get 100 pips in profit then I will keep my trailing stop at 50 precent of profit pips until it gets hit.

Most of the time I will make an adjustment to the trailing stop at least once per day. For example tomorrow if the trade is 100 pips in profit the trailing stop stays in place. If we are at 150 pips in profit then I move the trailing stop to 75 pips. If it goes to 200 in profit the next day then I go to 100 pip trailing stop. I will keep this up looking to stay in a long term trade while staying in profit and in the trend.

I will not take profit and if the trend reverses or we end up in a dip I will wait until my stop gets hit and then I will be out of the trade and hopefully bag a nice profit.

Stay tuned,
Jackie

Stopped out on the Euro for -50 pips

Re opened with a buy order on the Euro. Buy order at 1.5714, I suspect we will remain in a ranging pattern for the next couple of days before breaking out higher. I have a 50 pip trailing stop in place once my trade is in profit.

I am using a 1000 pip stop loss again. Lets see what happens...

See you on the pip side,
Jackie

Hi Jackie,
Thanks for sharing your story. I wish you luck in your trading and look forward to reading your progress.
I also trade the daily charts and follow Jacko E/U trading.

P.S. I love poker too!!! I'm a freeroll addict. I'm pretty brave online, but I like going to the casino too and playing small stake limit holdem

Thanks and welcome to my journal. Thanks for your support.

Also another trade opened

Open GBP/USD with a Buy order at 1.9738. 1000 pip stop/loss and 50 trailing stop once in profit of course.

Happy pipping,
Jackie

This am I noticed my trailing stop for GBP/USD is in place and I currently have 99 pips locked in. If this trade does not get stopped out by the end of the day I will adjust the trailing stop at 50% of my profit in this trade. For example if at the end of the day I am at 150 pips in profit. I will adjust trailing stop from 50 pips to 75 pips.

This will give the market alittle more room to run and will hopefully keep me in the trade as long as the trend continues upward. The best part bout my method of trading is that I do not worry about market timing so much.

Attemping to time the market is where most people end up messing up I believe. Stay tuned for what happens next.

Jackie

Buy order placed on USD/JPY at 104.69, 1000 pip stoploss and 50 pip trailing stop in place.

Buy order placed on GBP/USD at 198.22, 1000 pip stoploss and 50 pip trailing stop in place.

Pip Power,
Jackie

GBP/USD stopped out by my trailing stop but it was up +91 pips. I will most likely reopen the trade this evening or tomorrow morning. I like to open after or before New York's market.

So far in this journal only three trades closed. I am up +140 pips.

Stay tuned,
Jackie

Just opened a Buy with GBP/USD 1.9913 with 1000 pip stop and 50 pip trailing stop.

Let's ride the trend higher!

Jackie

It's under these market conditions, where every pair of the majors are undergoing corrections which means that all 6 of my open trades are in the negative currently. Although all are quite a ways from their stop/losses. This is the time when you see how important money management is with trading.

I have been reading Jacko's House of Pleasure and Pain. So many of those traders are trying to determine when they should get back in. Many jumped in and were stopped out with their short stoplosses while we were in the beginning of this correction, of course they had no way of knowing how much further down this market would go.

Some are now trying to pick the bottom of this trend. This is one of the Pros of my technique, I am in the market all the time and in the direction of the trend. So when the market reverses it's self then I will be riding the trend on the way up.

Remember on each trade, I only use about 1% of my account but that is plenty when you have a 1000 pip stop/loss in place. However, since I am in the direction of the trend it is very unlikely that I will get stopped out unless we are in a major reversal. If my initial large stop ever gets hit (and it surely will at some point) that is when I will wait a few days on that pair and see if the market corrects it's self or if a true reversal in the trend has taken place.

I would also be studying the fundamentals to see if I could determine a true change in the trend.

Well that it's for now,
Jackie