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Jacko's Forex House of Pleasure and Pain

  • #4,241
  • Jun 29, 2008 11:18am Jun 29, 2008 11:18am
Hey guys,

after reading nearly all of jackos posts here and elsewhere I decided to join the group..i should be a member within the next 7 days and i am strongly looking forward to what is offered there on the blog..

I also studied J16 Price action for nearly over 1 year now..and IMHO it seems those 2 "methods" are the best combination..

i wish everybody a good time here!
  • #4,242
  • Jun 29, 2008 1:49pm Jun 29, 2008 1:49pm
Quoting jacko
Hi cesarnc

Thanks for the encouragement....

My wife has just read the last couple of posts that I wrote and has suggested that I just concentrate on my making my trades (and giving her lots of good loving...).

I think she was annoyed because she could see that I was little annoyed at the cynical post by tdion

It was actually because of her that I stopped posting on dailyFX, because she said that I was getting more hassled from the posting than from my trading...

.
.
aaaaaahhhh...how lovely your wife..... hey...i'm not married yet..hopefully i get one like her...hmm...very concerned bout her hubby....
  • #4,243
  • Jun 29, 2008 1:53pm Jun 29, 2008 1:53pm
Quoting Why Oh Why
Cynics are everywhere. Many here appreciate your work jacko. Down in their hearts, many people know the only way to help yourself is to help others. You have a clue. Most here pretend they have IMO. Stick with it. It's appreciated.
But sometimes i like to see a little debate, there should be some critics...it will open up our view more.But of course there is different between positive one or cynical intent one.
  • #4,244
  • Jun 29, 2008 8:20pm Jun 29, 2008 8:20pm
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
I am not his "recruited" student , but just his "secret admirer " who read all the threads , even the FX daily one.

For me that is what i will do.

Basically, there are afew points you can look at

1) USD is fundamentally weak currency .. ( VERY VERY IMPORTANT)
2) Uptrend exhibit to be sure techinically.. eg 300 days or up to you... it is not a science. If you use daily bar, last year was 1.35, now 1.58.... up trend intact.
3) Remember that you could hit a correction period or distribution period/ consolidation period. But you still need to know you are in bull run.
4) Short wave has 50 % retracement, longer waves ( eg 3 short waves) could have another 50 % retracement)
5) Time frame is always relative. we are in bull run since Yr 2000. There is a small correction in 2005 and 2006, which jacko call a bear since it last more than 14 months ! He is not wrong, at that time. you are trend trading, you assume trend continue.
  • #4,245
  • Jun 29, 2008 8:48pm Jun 29, 2008 8:48pm
Quoting jackolee
Hi there, I am another jack,
I am another type of trend trader , not in forex, but in Stocks.


why sometimes i think share is more profitable is that: if you buy at $1 and rises through $20, The rises @ $20 is exponential compare to rises at $1.
the trick about trend trading is
1) you must fundamental identify trending counters.
2) enter when price is weak.
3) pyramiding/ compounding... it will make you a millionaire. ( a millionaire trader told me this)

You are on the wrong battlefield.
But it is always good to raise questions for readers of the thread to think and improve.
Just my personal view only...
Hi Jackolee

Man, I was wondering if may I send you a PM?

Thank a lot,


Good trades to all

TRADETHEPIPS
  • #4,246
  • Jun 30, 2008 3:26am Jun 30, 2008 3:26am
Quoting forexfixer
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.
Forexfixer,

I have to agree with you. I have been a member for a few months longer than you and have made around 80% (so I must be trading less than you ) A big return for 7 months part time work

I trade more often than Jacko but I use his blog comments to guide me. The guy is a Master Trader. I have learnt to trade in a totally different mindset which is worth more than money.



I AM BECOMING AN AWESOME TRADER
  • #4,247
  • Jun 30, 2008 3:57am Jun 30, 2008 3:57am
Quoting AidanPryde
Hey guys,

after reading nearly all of jackos posts here and elsewhere I decided to join the group..i should be a member within the next 7 days and i am strongly looking forward to what is offered there on the blog..

I also studied J16 Price action for nearly over 1 year now..and IMHO it seems those 2 "methods" are the best combination..

i wish everybody a good time here!
Hi Aidan,

I just joined recently and it sounds like I'm doing something very similar to you, i.e., Jacko with J16 PA. Give me a shout if you'd like to compare notes.
  • #4,248
  • Jun 30, 2008 6:04am Jun 30, 2008 6:04am
Did anyone go long at 1.5800 using the 'Round Number' entry?

Personally I will wait for a strong break of 5800 and then a pullback, but I wanted to see if anyone had entered on the first break this morning.

James
  • #4,249
  • Jun 30, 2008 6:18am Jun 30, 2008 6:18am
I didn't go long at 1.5800 but have just been closed out on 2 positions from 5600 and 5700. for 184 and 84 pips respectively. i have a new order set at 5650 and will see what happens shortly. i may move that to 5700 but will wait to see. It looks like we've hit that prev high and come off it now a little bit so i'm hoping to get a retracement, make a new higher low and set up for a new punch upwards after hopefully getting filled.

See what happens i guess.
  • #4,250
  • Jun 30, 2008 7:36am Jun 30, 2008 7:36am
It looks like our retracement has started.

I will be waiting for a clear bounce off of a support level to time my entry.

Any other ideas on entries? Does everyone have a plan for long entries?

Are some people still in long trades from previous entries?

James
  • #4,251
  • Jun 30, 2008 7:54am Jun 30, 2008 7:54am
Quoting jharvey407
It looks like our retracement has started.

I will be waiting for a clear bounce off of a support level to time my entry.

Any other ideas on entries? Does everyone have a plan for long entries?

Are some people still in long trades from previous entries?

James
Yup planning to enter at 5700 ...
  • #4,252
  • Jun 30, 2008 8:05am Jun 30, 2008 8:05am
1.5650 fits in perfectly with the 50fib retrace from low of 1.5467 to today's high of 1.5835.
  • #4,253
  • Jun 30, 2008 9:03am Jun 30, 2008 9:03am
Trump - I agree... it fits nicely with the most recent trendline on the 4 hour chart as well.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd15650.gif Size: 17 KB
  • #4,254
  • Edited 10:52am Jun 30, 2008 10:32am | Edited 10:52am
Quoting Trumpcard
1.5650 fits in perfectly with the 50fib retrace from low of 1.5467 to today's high of 1.5835.
Yup ... im taking at position at 5650 ...

Thanks for the note ...
  • #4,255
  • Jun 30, 2008 11:54am Jun 30, 2008 11:54am
Quoting luqmanz
Yup planning to enter at 5700 ...
Are you simply placing a buy order, or are you worried about trying to 'catch the falling knife', and will be waiting for some confirmation of the uptrend being resumed?

James
  • #4,256
  • Jun 30, 2008 6:51pm Jun 30, 2008 6:51pm
Quoting jharvey407
Are you simply placing a buy order, or are you worried about trying to 'catch the falling knife', and will be waiting for some confirmation of the uptrend being resumed?

James
Modified the plan .... Im entering at 5650 .... 50% ret from the rally in daily charts ..... I placed a limit buy order at that level ....

The idea is ... lets say your SL is 50 pips .... at that level we expect to see a slight upward movement bc of the buying ...
By trailing the stop .... your SL will move up ... thus reducing the risk ...



To me its hard to tell if the trend has resume or not .... it would be too late to enter a position and "pyramid" after the confirmation ....

This might be seen as catching a falling knife .... but if it fails ... I will have the AH to recover the losses later .....
  • #4,257
  • Jun 30, 2008 7:58pm Jun 30, 2008 7:58pm
Hi all,

I was long @5550 and got stopped out @5771 early this morning. And now I'm looking to enter maybe @5700 but will wait for a while to see what PA show me. Maybe 5700 is a very good entry with a little more risk, will wait for a while.

Would like to hear from Jacko what does he think.

Good trades to all

TRADETHEPIPS
  • #4,258
  • Jun 30, 2008 11:58pm Jun 30, 2008 11:58pm
Quoting jacko

1. If the graph on the chart starts in the bottom left hand corner and ends in the top right hand corner, the market is going UP.

2. If the graph on the chart starts in the top left hand corner and ends in the bottom right hand corner, the market is going DOWN.

3. If you are still confused, print it off and show it to a 5 year old...they will get it right EVERY time...LOL

LOL. Priceless. I love this.

I've just started reading this thread, and it's very illuminating in its simplicity. Well done Jacko, and thank you for sharing.
  • #4,259
  • Jul 1, 2008 3:58am Jul 1, 2008 3:58am
Quoting luqmanz
Modified the plan .... Im entering at 5650 .... 50% ret from the rally in daily charts ..... I placed a limit buy order at that level .
Hmm update .... i bought at 5750 .... seems like a stubborn support there .... and its also a resistance-turn-to-support area ( around 5700-5750) ...

I may be wrroonng ... lol
  • #4,260
  • Jul 1, 2008 5:44am Jul 1, 2008 5:44am
hello,
how long does a trade of Jack take ? in general.
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