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Jacko's Forex House of Pleasure and Pain

  • #3,721
  • May 9, 2008 5:52am May 9, 2008 5:52am
It is well known, and as Jacko has said, EUR/USD is the best one, could anyone tell me which is the second best one for trend trading? I am afraid eur/usd may researse sometime somewhere.

Thanks!
  • #3,722
  • May 9, 2008 9:55am May 9, 2008 9:55am
Quoting dogberry
It is well known, and as Jacko has said, EUR/USD is the best one, could anyone tell me which is the second best one for trend trading? I am afraid eur/usd may researse sometime somewhere.

Thanks!
Look at GBPJPY and USDJPY the range vs price gives you the best return on your money. But I don't think we are supposed to stray from the gospel. Don't want the BUTTONS to get upset. So better not talk about this..Shhhhhh!
  • #3,723
  • May 9, 2008 10:05am May 9, 2008 10:05am
shall we open another thread, something called "Jacko's anti-hedging strategy used for Geppy" ...

Quoting SBrickman
Look at GBPJPY and USDJPY the range vs price gives you the best return on your money. But I don't think we are supposed to stray from the gospel. Don't want the BUTTONS to get upset. So better not talk about this..Shhhhhh!
  • #3,724
  • May 9, 2008 11:19am May 9, 2008 11:19am
Quoting SBrickman
Look at GBPJPY and USDJPY the range vs price gives you the best return on your money. But I don't think we are supposed to stray from the gospel. Don't want the BUTTONS to get upset. So better not talk about this..Shhhhhh!
I don't have anything against you, but your cynical behavior does not help me to start liking you either. Please maintain a high standard of discussion that it used to be here before everybody put you to ignore list.

Ocean
  • #3,725
  • May 9, 2008 2:11pm May 9, 2008 2:11pm
sir,
would you mind contacting me by pm?

thank you
  • #3,726
  • May 9, 2008 3:02pm May 9, 2008 3:02pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting dogberry
It is well known, and as Jacko has said, EUR/USD is the best one, could anyone tell me which is the second best one for trend trading? I am afraid eur/usd may researse sometime somewhere.

Thanks!
Hi Dogberry
As you are aware this thread is mainly geared to EurUsd, but Jacko's practices can be applied to any pair that meets the tread requirements, as an example of this we can look at UsdChf which is direct correlation to the Eu and is in a strong bearish trend. However, part of jacko's teachings is about patience and understanding, neither of which can be gained by charging through multiple pairs hunting trends. the idea is to concentrate on one pair (which ever you choose) and learn all you can about it both on and of the charts, this is why jacko sticks to EU. now by trading only the one pair we can compound our winning trades and increase our profits much more rapidly than if we were trading mutiple pairs whislt still enjoying life away from the computer.

just because we can see a trend in formation in other pairs does not mean we anderstand the beast behind it and therefore we could make bad decissions, pick your pair and study it - work smarter not harder.

MPP
  • #3,727
  • May 9, 2008 3:10pm May 9, 2008 3:10pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
[quote=SBrickman;1991783]
Quoting Saint Stevo

Oh really?
SB
i believe you are reading but not understanding, this system is reliant on the long term trends, not the 30m,1h,4h retracements and corrections that your indicator shows you.

we select the trend from the highest TF and then work our way down to see what price is upto and select the most appropriate point to target for entries - it's as simple as that.

now if you wish to talk about trading either the EU or using jacko's system then please drop by, we have no issues with helping people trade the system n other pairs, but we do have issues, with the system being diluted or trades and charts for other pairs being thrown around in Jacko's personnal thread.

MPP
  • #3,728
  • May 12, 2008 5:09am May 12, 2008 5:09am
Did any of you went long from 1.5400 or so?

Ocean
  • #3,729
  • May 12, 2008 5:16am May 12, 2008 5:16am
Quoting Ocean
Did any of you went long from 1.5400 or so?

Ocean
Im in an AH now, stop at -20, I wont be comfortable until we breach 5500 though...this area is the 50 fib of the drop from just below 5600 so lets see if we push through it...anyone else in? Raz
Never say never.
  • #3,730
  • May 12, 2008 5:18am May 12, 2008 5:18am
Quoting razldazl
Im in an AH now, stop at -20, I wont be comfortable until we breach 5500 though...this area is the 50 fib of the drop from just below 5600 so lets see if we push through it...anyone else in? Raz
My SL @ -48 at the moment. Will see what happens next

Ocean
  • #3,731
  • May 12, 2008 5:19am May 12, 2008 5:19am
Quoting Ocean
Did any of you went long from 1.5400 or so?

Ocean
Yes, I went Long at 1.54 this morning.

Rob
  • #3,732
  • May 12, 2008 9:28am May 12, 2008 9:28am
I was in since May 7th @ 5350 with a 100 pips TL. Stopped out today at 5389. Nothing to write home about, hanged on with my trailing stop, at one point (1.5489) we were up 139 pips, then down with 39. Oh well, just following the rules. Tomorrow is another day.
  • #3,733
  • May 12, 2008 4:05pm May 12, 2008 4:05pm
I would like to know the reasons for some of you buying at 1.5400, is it because it's a round number,do you think the up trend has re-commenced or are you trading the retracement from around 24 April? I have taken a few short trades since the drop of 24 April but I've only traded the 4hr chart so these trades were counter the main trend on the weekly and daily. I sold yesterday at 1.5456 and was up 85pips at one stage but my trailing 50pip SL took me out at break even and now I don't see any reason to sell again but nor do I see a reason to buy.
I hope this is not too confusing and will appreciate any response.
Cheers.
  • #3,734
  • May 12, 2008 4:35pm May 12, 2008 4:35pm
It is really about probabilities. If in doubt, however, stay out.

On h4 there's a higher high and higher low = uptrend. This does mean, however, that 1.5489 was the entry level.

Oh, and for the record, I am on the sidelines. I don't mind missing pips until I am convinced we're back on a trend... maybe in a couple of days.
The market reveals who we really are...
  • #3,735
  • May 13, 2008 12:20am May 13, 2008 12:20am
Edge,
I took 5400 long as it price retraced nicely to 38% of the daily pin bar from Thursday. I would have entered closer to that level if I could but wasnt at the desk. There was no such retracement on Friday (only 96 pip range) so many were expecting a retracement and saw it as a buy signal. I exited at 5550 as I am not convinced that price will gofurther back up. I wouldnt be surprised if it consolidates further in this range (5600/5200ish) for a few more days. Beyond that / we will trade the signals.
IST
  • #3,736
  • May 13, 2008 12:39am May 13, 2008 12:39am
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
I would like to thank Jacko for all his help. He has helped me see that what I am becoming is more than a trader. I am becoming an owner/operator of my own trading business which has a turnover and profit well in excess of my expectations.
He has also shown me that it is a business that I can operate and grow as it suits ME. And I now have a business that I can operate for the rest of my life.

I had read this http://www.forexfactory.com/showpost.php?p=1425723&postcount=2
a lot of times but it wasn't until we had a real 1 to 1 email discussion about it that I really, really, really finally understood.
I now have a lifetime business that I can grow and operate as it suits me. That's brilliant.

I AM BECOMING AN AWESOME TRADER
  • #3,737
  • May 13, 2008 2:16am May 13, 2008 2:16am
Quoting edge540
I would like to know the reasons for some of you buying at 1.5400, is it because it's a round number,do you think the up trend has re-commenced or are you trading the retracement from around 24 April? I have taken a few short trades since the drop of 24 April but I've only traded the 4hr chart so these trades were counter the main trend on the weekly and daily. I sold yesterday at 1.5456 and was up 85pips at one stage but my trailing 50pip SL took me out at break even and now I don't see any reason to sell again but nor do I see a reason to buy.
I hope this is not too confusing and will appreciate any response.
Cheers.
Edge,

Being in the Jacko thread, based on Jacko's style of trading, it is very likely that anyone who has gone long here at 1.54 (like me) are of the thinking that the upward trend has recommenced.

There's no right way nor wrong way; but this is the Jacko way; and Jesse Livermore, Loeb and many other trading successes did it that way too (I'm referring to the basic principle of trend trading, not AH, etc).

As I am up 110 pips at the time of writing, I can now travel in the safe seat and enjoy the comfort of discovering whether the trend has actually recommenced, without any financial risk. I went Long about a week ago but got stopped out. So I'm trying again.

I entered based on my own perception of when the market was ready to move. That's based on weekly and daily technicals and Jacko's writings at his trading blog.

Rob
  • #3,738
  • May 13, 2008 4:03am May 13, 2008 4:03am
Quoting wattawatta
I would like to thank Jacko for all his help. He has helped me see that what I am becoming is more than a trader. I am becoming an owner/operator of my own trading business which has a turnover and profit well in excess of my expectations.
He has also shown me that it is a business that I can operate and grow as it suits ME. And I now have a business that I can operate for the rest of my life.

I had read this http://www.forexfactory.com/showpost.php?p=1425723&postcount=2
a lot of times but it wasn't until we had a real 1 to 1 email discussion about it that I really, really, really finally understood.
I now have a lifetime business that I can grow and operate as it suits me. That's brilliant.

I AM BECOMING AN AWESOME TRADER
G'day Wattawatta

I would second this.
Since joining Jacko's group I have seen trading in a whole new light.
It is not merely a disorganised series of buying and selling of different currencies.
It is a strategic and calculated system of trading that takes all the pressure off when looking at the market.
He also has a more holistic approach that includes a view of trading as a total business, not merely random trades that is something more akin to gambling.
In my reading of the private group blog, I can see what wattawatta is saying.
Jacko sees trading as a lifelong business that can be conducted anywhere, anytime by anyone.
If you are serious about trading as a career and lifetime business you wont do better than to contact Jacko and see if there are any more spaces in the second group.
I did and its money well spent.
  • #3,739
  • May 13, 2008 7:47am May 13, 2008 7:47am
Hi Wattawatta and Forexfixer,

Thank you both for your kind words.

You are two fine people who are developing well as traders


.
  • #3,740
  • May 13, 2008 8:23am May 13, 2008 8:23am
@Cesar
http://www.forexfactory.com/showpost.php?p=1998004&postcount=8332
Never say never.
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