Jacko's Forex House of Pleasure and Pain | Page 212 | Forex Factory

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Jacko's Forex House of Pleasure and Pain

  • #4,221
  • Jun 27, 2008 12:00pm Jun 27, 2008 12:00pm
Quoting jacko
I am not a signal service...My trades are not a recommendation.

They are simply to allow you to see when and what I am trading and why.

I don't ask people to follow only my trades.
My trades are simply my trades,...
some of the group trade my trades PLUS their own...(very successfully!!!)



.
Ohhhh yes Jacko, you are right, very succesfully!!!! Thank you man, thank you so much!!!


TRADETHEPIPS
  • #4,222
  • Jun 27, 2008 12:51pm Jun 27, 2008 12:51pm
Quoting jacko
I am not a signal service...My trades are not a recommendation.

They are simply to allow you to see when and what I am trading and why.

I don't ask people to follow only my trades.
My trades are simply my trades,...
some of the group trade my trades PLUS their own...(very successfully!!!)



.
Being part of second group there is no hint of this being a signal service..we do pick Jacko's brain apart as to why he takes a trade. There are also some great Jacko responses to the group members trading variations.

For me it is a learning platform. Potential trades are becoming clearer and I can pick my own now. I have developed my own variations and am developing my own style.

If you read the thread you have all the parts. Once you put them together to suit your style, you have your own pretty good method.
  • #4,223
  • Jun 27, 2008 12:54pm Jun 27, 2008 12:54pm
Couldn't have said it better myself. Good weekend all.

Quoting generalz
Being part of second group there is no hint of this being a signal service..we do pick Jacko's brain apart as to why he takes a trade. There are also some great Jacko responses to the group members trading variations.

For me it is a learning platform. Potential trades are becoming clearer and I can pick my own now. I have developed my own variations and am developing my own style.

If you read the thread you have all the parts. Once you put them together to suit your style, you have your own pretty good method.
  • #4,224
  • Jun 27, 2008 12:59pm Jun 27, 2008 12:59pm
Quoting txfx
Couldn't have said it better myself. Good weekend all.

im a member of the second group.....is there a place to discuss among members?
obviously i dont want to give out specifics here as jacko may not like that
  • #4,225
  • Jun 27, 2008 1:13pm Jun 27, 2008 1:13pm
Quoting artieboy
im a member of the second group.....is there a place to discuss among members?
obviously i dont want to give out specifics here as jacko may not like that
AFAIK, there is no such place... And I personally don't need one. Jacko's Forex House is good enough for me.
  • #4,226
  • Jun 27, 2008 1:15pm Jun 27, 2008 1:15pm
Quoting hendrix
AFAIK, there is no such place... And I personally don't need one. Jacko's Forex House is good enough for me.
So youre saying, just discuss here?
  • #4,227
  • Jun 27, 2008 1:53pm Jun 27, 2008 1:53pm
Quoting artieboy
So youre saying, just discuss here?
Yes. Or you can find some of the members here (you'll recognize some of them by signatures under their names, like "Jacko Turtle", "Jacko Apprentice",...) and PM them.

But I guess you can say whatever lies on your mind right here.

And, btw, welcome to the group. I'm sure this will be a very nice experience for you.
  • #4,228
  • Jun 27, 2008 2:08pm Jun 27, 2008 2:08pm
Quoting hendrix
Yes. Or you can find some of the members here (you'll recognize some of them by signatures under their names, like "Jacko Turtle", "Jacko Apprentice",...) and PM them.

But I guess you can say whatever lies on your mind right here.

And, btw, welcome to the group. I'm sure this will be a very nice experience for you.

Thanks Hendrix, i gotta say i feel pretty awesome about being in this group, Jacks blog is a great read!...
...That being said, obviously we are not currently using the 50% retracement for our entries. More like picking support/congestion for a buy in......
This is where it gets a bit hazy.....As jack mentioned he is not providing a signal service so we are meant to think for ourselves....after the run up that we saw lately, .....would we wait for another 1.55? Its tough because i dont want to 'chase' trades, yet not lose too many opportunities because im too much of a bargain hunter.
  • #4,229
  • Jun 27, 2008 2:33pm Jun 27, 2008 2:33pm
Quoting artieboy
Thanks Hendrix, i gotta say i feel pretty awesome about being in this group, Jacks blog is a great read!...
...That being said, obviously we are not currently using the 50% retracement for our entries. More like picking support/congestion for a buy in......
This is where it gets a bit hazy.....As jack mentioned he is not providing a signal service so we are meant to think for ourselves....after the run up that we saw lately, .....would we wait for another 1.55? Its tough because i dont want to 'chase' trades, yet not lose too many opportunities because im too much of a bargain hunter.
Yeah, Jack is great.

Yes, the current 50% fib on a daily chart would be at around 1.5550 - but I doubt it will go that far down anytime soon. I'm still a bit annoyed with myself for not placing a buy stop order at 1.5680 before the Federal Funds Rate announcement. It was kind of expected, that the EUR will rally, if the FED wouldn't raise the interest rate.

Next week we have a ADP Nonfarm Employment Change report coming out on Wednesday and a ECB Press Conference on Thursday. These two events are as big as it gets, so there is a lot of volatility expected, but if the EUR/USD falls before Wednesday back to 1.5700, I'm a buyer (see the H4 chart). And just in case, if Mr. Trichet will sound very hawkish, I will have a small buy stop order placed at 1.5850.
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  • #4,230
  • Jun 28, 2008 12:21pm Jun 28, 2008 12:21pm
Quoting WarrenBuffet
How much money could you make by trading his calls?
As far as I know ... jacko does not provide signals nor 100% mechanical system ...

He teaches the system of thoughts of a successful trader.

P/S : correct me if I'm wrong .... anyone
  • #4,231
  • Jun 28, 2008 12:49pm Jun 28, 2008 12:49pm
Hi:

I am up to about post 980 on this thread. Excellent.

In earlier posts, everyone seemed to agree that in order to determine the trend you had to view it for 300 bars. Thus if one is trading the daily bars, then that means to stop trading for about a year (300 days) until the new long-term trend can be seen.

Is this correct, or is there something that I am missing?

Since still-President Bush has about 5 months in office, a new administration could provide hope enough to get the US $ back on track. If this happens will the EUR/USD traders have to wait for a year to trust the new trend?

Thanks,
Barry
  • #4,232
  • Jun 28, 2008 5:49pm Jun 28, 2008 5:49pm
Quoting luqmanz
As far as I know ... jacko does not provide signals nor 100% mechanical system ...

He teaches the system of thoughts of a successful trader.

P/S : correct me if I'm wrong .... anyone

luqmanz,

Yes that is about right.

Jacko is also good at self analysis, he gets annoyed with himself if he makes a mistake, he shares the same emotions as we students experience. He shows both discipline and lack of discipline in the way he trades.

The main example he sets is that waiting for the right trade setup is very important.

Better to be out of the market wishing you were in, than in the market wishing you were out !

Regards,

BabeFX.
  • #4,233
  • Edited 8:48pm Jun 28, 2008 5:52pm | Edited 8:48pm
how are you guys doing these past few months (specifically, march 6th - today, where we have been range bound between 1.53 and 1.59.....)

jacko relies on trends, but in ranges such as this, what have the results been like for those that follow his style?

-td
  • #4,234
  • Jun 28, 2008 8:46pm Jun 28, 2008 8:46pm
Quoting tdion
how are you guys doing these past few months (specifically, march 6th - today, where we have been range bound between 1.53 and 1.59.....)

jacko relies on trends, but in ranges such as this, what have the results been luck for those that follow his style?

-td
I can answer this. I have been a member of Jacko's second group for 2 months and have made more than 75%. I am using an higher risk ratio than Jacko says to use but I wanted to copy and use his system of aggressively growing my account like he did. I have stuck strictly to his method and only traded with the trend. When I saw the heavy warnings on the risk of counter trend trades, I stayed away from them.
I printed off his whole blog and then highlighted the best parts. He has been fabulous in his quick responses to all my questions and has helped me tremendously.

I posted this in another thread
http://www.forexfactory.com/showthread.php?p=2078333#post2078333

Jackos group is the best deal in Forex. He is the real deal. Where else are you going to be able to talk to a guy who trades 200-300 Euro Lots at a time? He answers every one of my emails when I have wanted to ask something. And he answers them within 24 hours
There is no bullshit in his blog. He trades live and gives us hours of warning about his upcoming trades
As to having to pay for the blog, I have recouped my joining fee many times over and I have only been a member for a short period.

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.

If this is seen as a solid recommendation for Jacko and his system, that is what I have intended.
  • #4,235
  • Jun 28, 2008 8:49pm Jun 28, 2008 8:49pm
thanks for the reply

yeah everything i've seen w/ jacko appears to be on the up and up
  • #4,236
  • Jun 29, 2008 1:55am Jun 29, 2008 1:55am
Quoting hendrix
From all three time frames. But, higher the time frame, the better it works. I like best a combination of a 50% fib and a round number (1.5x00).
Hi ya Hendrix,

Thank you very much for the help and reply on this

Adrian
  • #4,237
  • Jun 29, 2008 2:44am Jun 29, 2008 2:44am
Quoting BarryPips
Hi:

I am up to about post 980 on this thread. Excellent.

In earlier posts, everyone seemed to agree that in order to determine the trend you had to view it for 300 bars. Thus if one is trading the daily bars, then that means to stop trading for about a year (300 days) until the new long-term trend can be seen.

Is this correct, or is there something that I am missing?

Since still-President Bush has about 5 months in office, a new administration could provide hope enough to get the US $ back on track. If this happens will the EUR/USD traders have to wait for a year to trust the new trend?

Thanks,
Barry
My opinion is to keep trading and assume the trend is still intact until the price says so ....
  • #4,238
  • Jun 29, 2008 5:22am Jun 29, 2008 5:22am
Iv only been party to one trade yet myself. I took his entry point and at about 30 pips he said price will come down in the next few hours and then go back up. So I cashed these 30 pips in 4 hours i was back in where i started from. The traded ended with 80 pips.

So I dont see any slowing jacko down
  • #4,239
  • Jun 29, 2008 9:28am Jun 29, 2008 9:28am
Eur/Usd
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.jpg Size: 209 KB
  • #4,240
  • Edited 10:44am Jun 29, 2008 9:50am | Edited 10:44am
from what i can see, what is taught here is how to be a "trader" (as in, thats what YOU DO !) and not how to follow certain signals by rote !

this thread was pointed out to me by another trader who thought i would find agreement with what is said, which I very much do --- I trade direction and trend, and while a lot want to know about "trend", I would imagine you "picks your timeframe and plays the trade !"

heck, youve got the monthly, weekly, daily and right down to the 30 second trend to play if you so desire with my only difference in thought being that i do not use a stop loss (as im trading the trend, use good money management techniques and dont get overleveraged) and dont find a need to.

on the other side, Im not trading the lot sizes as are discussed here, so holding that many lots would create one HECK of a drawdown if one is holding for a week or two --- Jacko's concepts of buy stops at stop out points appears to be highly valid, and its probably my ego working at never wanting to show a loss that prevents me from giving in to what may certainly be a "better" way than i do it.

bottom line is, with the lot sizes i normally trade and with the equity and ability to "hedge" a position to null out any margin moves, I believe not using a sl has saved me from those strange "spikes" that so often happen before one's trading platform opens on sunday (for instance) or some of those really fun moves on GU which rival the best an amusement park can offer in stomach churning rides ?

overall I agree with those who state that this "method" is more about learning to trade, than mechanical signals as to "when" to trade, and once you learn trading, youre sitting in the cat birds seat of one heck of a nice way to make a living !

For those who really want to be decent traders, theres not much further to look, imo

enjoy and trade well

mp
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