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Jacko's Forex House of Pleasure and Pain

  • #4,761
  • Jul 26, 2008 6:07am Jul 26, 2008 6:07am
Hello raz,
I understand you are applying Jacko's method to the AUD/USD can you post the link to the thread? I will love to come on board.
  • #4,762
  • Jul 26, 2008 6:39am Jul 26, 2008 6:39am
Quoting Dedax
Hello raz,
I understand you are applying Jacko's method to the AUD/USD can you post the link to the thread? I will love to come on board.
http://www.forexfactory.com/showthread.php?t=89245

Any and all comments welcome!
Never say never.
  • #4,763
  • Jul 26, 2008 7:45am Jul 26, 2008 7:45am
Quoting motu
Hi everyone. I'm just trying to figure out what risk per trade Jacko's method uses when starting out.

Are we saying:

1) Divide your risk capital into 20 shots of 5% and trade until you get up above your starting capital and then risk 5% of your increased account size? (so, for example, with a $100k account you risk a constant $5k on every trade until you are playing with OPM...then you increase your risk using the fixed fractional 5%, or whatever you are happy with)

or

2) Risk whatever % of account per trade you are happy with (more of a fixed fractional approach)...that is...if I'm comfortable risking 5% per trade, I maintain that risk % even if my account goes down from $100k to $80k.

Thanks in advance, Motu
Motu,

See attached excel file, it takes the math out of order size figuring. I use the same math to figure my entry size.
Hope it helps.
Attached Image
Attached File(s)
File Type: xls OrderSize.xls   18 KB | 1,269 downloads
  • #4,764
  • Jul 26, 2008 10:26am Jul 26, 2008 10:26am
[See attached excel file, it takes the math out of order size figuring. I use the same math to figure my entry size.
Hope it helps.[/quote]


FXGenius... This is the best one of these calculators I have seen.
  • #4,765
  • Jul 26, 2008 10:39am Jul 26, 2008 10:39am
Quoting Lou
[See attached excel file, it takes the math out of order size figuring. I use the same math to figure my entry size.
Hope it helps.

FXGenius... This is the best one of these calculators I have seen.[/quote]

Thanks!
  • #4,766
  • Jul 26, 2008 10:51am Jul 26, 2008 10:51am
Does anyone on this thread use a PDA and also trade with Oanda?

I am considering going mobile. Oanda has a setup for this and I thought I would ask here to see if anyone is connected that way.

My next step is to ask on the Oanda forum.
  • #4,767
  • Jul 26, 2008 10:55am Jul 26, 2008 10:55am
Quoting Lou
Does anyone on this thread use a PDA and also trade with Oanda?

I am considering going mobile. Oanda has a setup for this and I thought I would ask here to see if anyone is connected that way.

My next step is to ask on the Oanda forum.
I don't use it but have been looking at the thread to see what kind of phone I need to get when my current contract is up. Current thread below.

http://www2.oanda.com/cgi-bin/msgboard/ultimatebb.cgi?ubb=get_topic;f=17;t=004076
  • #4,768
  • Jul 26, 2008 10:55am Jul 26, 2008 10:55am
Quoting Fx_Genius
Motu,

See attached excel file, it takes the math out of order size figuring. I use the same math to figure my entry size.
Hope it helps.
Thank you FX Genius. Great spreadsheet.
  • #4,769
  • Jul 26, 2008 11:11am Jul 26, 2008 11:11am
Quoting Lou
Does anyone on this thread use a PDA and also trade with Oanda?

I am considering going mobile. Oanda has a setup for this and I thought I would ask here to see if anyone is connected that way.

My next step is to ask on the Oanda forum.
Oanda supports phone and PDA now.

I occasionally manage my tickets through my phone if there's an emergency. It has only basic functions. No limit orders. You can't edit stop loss orders either.
Take a report.
  • #4,770
  • Jul 26, 2008 11:11am Jul 26, 2008 11:11am
Quoting Fx_Genius
I don't use it but have been looking at the thread to see what kind of phone I need to get when my current contract is up. Current thread below.

http://www2.oanda.com/cgi-bin/msgboard/ultimatebb.cgi?ubb=get_topic;f=17;t=004076
Thank you.
  • #4,771
  • Edited 11:56am Jul 26, 2008 11:27am | Edited 11:56am
Quoting Lou
Does anyone on this thread use a PDA and also trade with Oanda?

I am considering going mobile. Oanda has a setup for this and I thought I would ask here to see if anyone is connected that way.

My next step is to ask on the Oanda forum.
Hey Lou,
I just went mobile, I have a Sprint Mougle and with Oanda it is very simple, you just save the address for the mobile page in your phone or pda's web browser and that's it. You go to the page & log in , There are no charts for now but you can close or open trades. It is VERY easy. It is a bare bones setup for now. Market orders only for now, NO Limit Orders, but the powers to be acknowledge the need for Limit orders so I would look for that soon.
Now MT4 has a great chart package for mobile. It is a download and it works very well and is easy to use as well.

The Oanda supports pda's , Windows smartphones and Blackberries as well. MT4 does not support a Blackberry, When you see the charts on mt4 you will want to use them.....so I would stick with a Windows 6 Mobile based phone.
  • #4,772
  • Jul 26, 2008 1:54pm Jul 26, 2008 1:54pm
Hi all great information on this thread, im very interested in joining with Jacko's group has anyone here been there done that? any comments i hope he is still accepting new students. im not worried about the 500 at all just wanted some feeedback from current or previous students if any??

take care and happy trading
  • #4,773
  • Jul 26, 2008 2:39pm Jul 26, 2008 2:39pm
Quoting avatarx51
Hi all great information on this thread, im very interested in joining with Jacko's group has anyone here been there done that? any comments i hope he is still accepting new students. im not worried about the 500 at all just wanted some feeedback from current or previous students if any??

take care and happy trading
avatarx
There are Many of us here that are in Jacko's group, including myself, and i have no complaints. He's the real deal.
  • #4,774
  • Jul 26, 2008 3:39pm Jul 26, 2008 3:39pm
Hi all,
I've just(2 days ago) joined Jacko's group, so am looking forward to learning and, hopefully, adding something to the group over the coming weeks.
  • #4,775
  • Jul 26, 2008 3:41pm Jul 26, 2008 3:41pm
Quoting avatarx51
Hi all great information on this thread, im very interested in joining with Jacko's group has anyone here been there done that? any comments i hope he is still accepting new students. im not worried about the 500 at all just wanted some feeedback from current or previous students if any??
Given the number of people who've posted a very positive comment about the benefits of Jacko's group membership, it seems like it's a good thing. The post above is the first time anyone has posted such a thing so in ebay speak that's a 99% positive rating.
The market reveals who we really are...
  • #4,776
  • Jul 27, 2008 4:41am Jul 27, 2008 4:41am
Quoting stewartr


My BIGGEST MISTAKE 3. I was demo trading Jacko's method in an account with a few thousand dollars in it. I was taking small positions for a few weeks (I started with $2000 contracts and stepped it up to 2x$10,000 contracts) and the account was growing. Then I decided to step up the trading to 1% of my risk capital (which is multiple $100,000 lots), and that's when we had 2 losses in a row of the full 50 pips. At that stage I was still skeptical of Jacko's method and I was wondering if the euros sideways move might actually be the start of a reversal. So I went back to trading MICRO (not even mini) lots. So while I am up about 600 pips overall.....I am DOWN in raw $.

Lesson - trade with the exact same position size whether you win or lose, until you have built the account to profit, then increase the position size. My error was not reducing the position size by 90% after a loss and therefore I did not make the loss back up.

After 3.5 months of following Jacko's style, I am finally trusting the method and stepping up to full lots now.

I am a full time trader now. Jacko's method makes me money but it is not entertaining. (I also have a smaller account for day trading so I can amuse myself with trying to pick bottoms and tops). :-)

Just my thoughts.
Best Wishes
Stewartr
Hi Edge540 and FX_Genius

I managed to find the quote from stewartr that was confusing me....I've underlined and made bold the part I was referring to...

What do you think of this approach?

Cheers, Motu
  • #4,777
  • Jul 27, 2008 5:09am Jul 27, 2008 5:09am
Well,
I think if an AH is meant to give you back your losses, it stands to reason you must use the same lot size on your AH as your original trade...new trades can be reduced in size but the AH must be the same as the original trade otherwise really whats the point...thats how I trade it anyway, Raz
Never say never.
  • #4,778
  • Jul 27, 2008 6:15am Jul 27, 2008 6:15am
Motu:I think it is all a bit academic,if you are risking a certain percentage of your account then as you move into profit your number of lots increases and visa versa.Correct me if I'm wrong but are you thinking that Jacko implied that once he was in profit he risked all of that profit on the next trade.This approach would be highly risky in my view,a fixed percentage of your account is far safer.
  • #4,779
  • Jul 27, 2008 9:51pm Jul 27, 2008 9:51pm
Quoting avatarx51
Hi all great information on this thread, im very interested in joining with Jacko's group has anyone here been there done that? any comments i hope he is still accepting new students. im not worried about the 500 at all just wanted some feeedback from current or previous students if any??

take care and happy trading
Hi avatarx,

If your personality is scalper, then Jacko is not for you. If you want to trade with relax and easy pace with great patient for good entry point (1-2 trades /week) then Jacko is for you - mid-long term trader. His main success factors are high winning probability trade and huge trading size (200Lots). Imaging if he only gets 200pips/month - that's 200pips x 10pip/lot x 200lots ($$$).

Thus I would suggest you trade small size (1 std lot, max SL = $1000) or even smaller if your capital is small (risk only 2-3%). Concentrate on gaining his methodology by seeing pip result. Once you are comfortable with his trading methodology, then gratually increase the size - needless to say on the return - you can calculate youself then...

Regards,
Toyogo
  • #4,780
  • Jul 28, 2008 6:13am Jul 28, 2008 6:13am
Quoting Fx_Genius
Motu,

See attached excel file, it takes the math out of order size figuring. I use the same math to figure my entry size.
Hope it helps.
Hi All
Hope this excel helps calculate lot size when people want to risk an additional % of profit as well as original % of capital. Please check all calculations as I'm not that good with excel. Happy pipin.

Timebandit
Attached File(s)
File Type: xls Aggressive OrderSize Calculation.xls   54 KB | 744 downloads
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