Jacko's Forex House of Pleasure and Pain | Page 232 | Forex Factory

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Jacko's Forex House of Pleasure and Pain

  • #4,621
  • Jul 14, 2008 10:59pm Jul 14, 2008 10:59pm
Quoting forexfixer
I wrote this about three weeks past

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/showthre...33#post2078333 (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.
Hi,

Allowed me to correct your thinking of "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". It is definately not a joining fee, it is just an administration + international SMS + blog maintainance... I guess it may not even enough. I still considered it as FOC as he used to say "I am cheap".

What he wants to do is to make sure his times is well spent with a group of serious and committed traders. Pls refer to his threads in DailyFX in Feb 2006 "live trading" where he spent a lot of times with traders - I'm totally annoyed that he was so emotionally heated up not with trading but with dealing with few ass (to me, it was a waste of time). He was once wanting to start that "live trading" again but called off and started the private group in late 2007 (good move).



Regards,
Toyogo
  • #4,622
  • Jul 15, 2008 2:03am Jul 15, 2008 2:03am
Quoting Tradethepips
Hi Toyogo,
as far as I know, NO market goes straight up indefinitely, anyway, I want to be in this market, but I am not going to jump into it. It is just the simplest reasoning that I can do. I'm just trying to leave my brains at the door, if it doesn't work then I will do another approach to charts.
This doesn't mean that I am not flexible, I could change my order above or bellow 5800.
hope this make sense
Good trades to all
TRADETHEPIPS
Hi Tradethepips,

Are u on any position? I didn't wait for 50% Fib when the price bounced back from 1.5843 (low) along the support trendline (yellow). I bought @1.5870 (as 1.5850 was too risky at the moment and 1.5900 may be too conservative to wait) and am waiting for it to break 1.5964 and hopefully 1.6019...

It's 1.5962 now (1.5962-1.5870 = +92pips or +42pips logged in!!!!!

Regards,
Toyogo
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  • #4,623
  • Jul 15, 2008 3:12am Jul 15, 2008 3:12am
Quoting toyogo00
Hi Tradethepips,

Are u on any position? I didn't wait for 50% Fib when the price bounced back from 1.5843 (low) along the support trendline (yellow). I bought @1.5870 (as 1.5850 was too risky at the moment and 1.5900 may be too conservative to wait) and am waiting for it to break 1.5964 and hopefully 1.6019...

It's 1.5962 now (1.5962-1.5870 = +92pips or +42pips logged in!!!!!

Regards,
Toyogo
I got a long position at 5900 ... cheers ...
  • #4,624
  • Jul 15, 2008 3:14am Jul 15, 2008 3:14am
Quoting toyogo00
Hi Tradethepips,

Are u on any position? I didn't wait for 50% Fib when the price bounced back from 1.5843 (low) along the support trendline (yellow). I bought @1.5870 (as 1.5850 was too risky at the moment and 1.5900 may be too conservative to wait) and am waiting for it to break 1.5964 and hopefully 1.6019...

It's 1.5962 now (1.5962-1.5870 = +92pips or +42pips logged in!!!!!

Regards,
Toyogo

Gnash gnash!! LOL

No man, I was tempted to buy at 5850 also, but decide to stick to my initial plan. I'm jealous man. Now will wait for the correction to buy at 5800 area, maybe on the expected volatility during Bernanke's speech.

Congrats,


TRADETHEPIPS
  • #4,625
  • Jul 15, 2008 3:29am Jul 15, 2008 3:29am
Quoting Tradethepips
Gnash gnash!! LOL

No man, I was tempted to buy at 5850 also, but decide to stick to my initial plan. I'm jealous man. Now will wait for the correction to buy at 5800 area, maybe on the expected volatility during Bernanke's speech.

Congrats,

TRADETHEPIPS
Hi Tradethepips,

You've got the point - never chase the trade as it is now appoaching 1.6019 resistance, there are more to come and just wait for the dip... I used to do that but no more now!

Having said that, I'm just lucky!

Regards,
Toyogo
  • #4,626
  • Jul 15, 2008 3:35am Jul 15, 2008 3:35am
Quoting Marco
I just had to get that posting back into here after the facts. I had such a good laugh on the posting...a "BEOB" - gosh anyone out there really beliefs the market cares about a "BEOB" someone sees on this weird candlestick-charts? This is funny! "There is no spoon!" ;-)
Candlestick trading setups and patterns have been traded for centuries and should be part of everyones tool box.

To dismiss them out of hand is just plain stupid.
No man is smart, except by comparison to those who know less!
  • #4,627
  • Jul 15, 2008 3:38am Jul 15, 2008 3:38am
Quoting toyogo00
Hi Tradethepips,

You've got the point - never chase the trade as it is now appoaching 1.6019 resistance, there are more to come and just wait for the dip... I used to do that but no more now!

Having said that, I'm just lucky!

Regards,
Toyogo
Yes Toyo, I know what are you talking about, it did cost me few thousands to learn that. Not any more.

Regards,


TRADETHEPIPS
  • #4,628
  • Jul 15, 2008 4:33am Jul 15, 2008 4:33am
i got in at 850 but was away and didnt add to it at any other level. see what happens now i guess
  • #4,629
  • Jul 15, 2008 5:30am Jul 15, 2008 5:30am
I wouldn't like to be in Bernanke's shoes by these times LOL
  • #4,630
  • Jul 15, 2008 6:06am Jul 15, 2008 6:06am
Quoting luqmanz
1.5900 is a resistance in Daily charts ... this level has been breached on Friday and it's a possible resistance-turn-to-support level ...

Take a look at the 1H charts .... price penetrated 1.5900 .. retrace at little bit and bounce up again at 1.5900 ... seems like it has truly become a new support ....?

In Daily chart .. it seems to me the bull train is still very strong .... notice the bull from 1.5300 to 1.5900 ... retracement to 1.5650 .. and now back to 1.5900 ....

1.5900 .. look attractive enough to me ...
Fiber looking good ... 1.5900 is indeed another support and a good entry point ..
Hope you guys have a position there ...

See you guys at the moon ... once again
  • #4,631
  • Jul 15, 2008 6:44am Jul 15, 2008 6:44am
Quoting strangemartian
Candlestick trading setups and patterns have been traded for centuries and should be part of everyones tool box.

To dismiss them out of hand is just plain stupid.
I know some successfull fonds-managers and I never heard anyone talking about candlesticks...but all those small traders who loose for years talk about them all the time...just my experience and yes I've studied candlestick-patterns also when I was a looser

But as I said, if it works for you, it's fine!

Marco
  • #4,632
  • Jul 15, 2008 6:45am Jul 15, 2008 6:45am
gnash gnash....i missed all this morning rally. I think we will see only shallow retracements from now, so I think I will be looking to buy to the next retracement of 100 pips. I believe the probability for the euro to retrace more than 150 pips now is rather small.
We leave no soldier behind.
  • #4,633
  • Jul 15, 2008 12:52pm Jul 15, 2008 12:52pm
Quoting Marco
I know some successfull fonds-managers and I never heard anyone talking about candlesticks...but all those small traders who loose for years talk about them all the time...just my experience and yes I've studied candlestick-patterns also when I was a looser

But as I said, if it works for you, it's fine!

Marco
Like I said it is a useful tool to include with other methods and combining Jacko, PA using cadlesticks, support and resistance and good old fundementals I do good thanks :-)

I think you find that many big time traders will use some form of candlestick setups as part of their trading strategy.
No man is smart, except by comparison to those who know less!
  • #4,634
  • Jul 15, 2008 5:31pm Jul 15, 2008 5:31pm
Quoting Tradethepips
Gnash gnash!! LOL

No man, I was tempted to buy at 5850 also, but decide to stick to my initial plan. I'm jealous man. Now will wait for the correction to buy at 5800 area, maybe on the expected volatility during Bernanke's speech.

Congrats,


TRADETHEPIPS

What he said.

In the past I would have been anxiously chasing this market. Now I am sitting on my hands waiting for a pullback and opportunity. If I miss a run up up because of that, so be it. There will be others.
"Money is easy to make, but hard to keep" - FWV 1975
  • #4,635
  • Jul 15, 2008 6:56pm Jul 15, 2008 6:56pm
Hi!

One question, normally how much time to look back on the weekly, daily and 4H charts?

Which time frame as more weight on the decision to make the trade?

Vasco
  • #4,636
  • Jul 15, 2008 8:55pm Jul 15, 2008 8:55pm
I'm still sitting out. Congrats to all who got some pips but 1.5900 was too risky for me personally and I'll be patient and wait for it to retrace a little more. I have an order waiting at 1.5800 but I'll monitor that due to the volatility present...meanwhile
  • #4,637
  • Jul 15, 2008 11:20pm Jul 15, 2008 11:20pm
Quoting Marco
I know some successfull fonds-managers and I never heard anyone talking about candlesticks...but all those small traders who loose for years talk about them all the time...just my experience and yes I've studied candlestick-patterns also when I was a looser

But as I said, if it works for you, it's fine!

Marco

All anyone can or will do, is trade their beliefs.
" If you think you can do a thing or cant do a thing you're right"
Henry Ford...
  • #4,638
  • Jul 16, 2008 12:29am Jul 16, 2008 12:29am
Quoting Marco
I know some successfull fonds-managers and I never heard anyone talking about candlesticks...but all those small traders who loose for years talk about them all the time...just my experience and yes I've studied candlestick-patterns also when I was a looser

But as I said, if it works for you, it's fine!

Marco


Trading off candlesticks/OHLC bars have paid my mortgage off 15 years early!

They've also given me a nice deposit for my next investment property

What did you study? babypips.com
  • #4,639
  • Edited 4:44am Jul 16, 2008 2:26am | Edited 4:44am
Hi all

I got in @5900, let's see how it works.

Good trades to all of us in

TRADETHEPIPS

This is really quiet at 5925 area, it's like being waiting for the wave to surf.
  • #4,640
  • Jul 16, 2008 9:18am Jul 16, 2008 9:18am
Quoting tehuringa
I'm still sitting out. Congrats to all who got some pips but 1.5900 was too risky for me personally and I'll be patient and wait for it to retrace a little more. I have an order waiting at 1.5800 but I'll monitor that due to the volatility present...meanwhile
I'am also sitting out until hopefully it pulls back more so i can get it at a better price. Waiting to see what direction it goes after all the news.
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