Jacko's Forex House of Pleasure and Pain | Page 242 | Forex Factory

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Jacko's Forex House of Pleasure and Pain

  • #4,821
  • Jul 30, 2008 9:33pm Jul 30, 2008 9:33pm
FX California, JohnDoe,Tommyd and Driftwood.

Thanks for offering some other ways to look at this .... I need to sleep on it and think more about it.

I appreciate your comments very much.

Sincerely,

Lou
  • #4,822
  • Jul 30, 2008 10:17pm Jul 30, 2008 10:17pm
Your welcome .... hope it helps.
Same Whore .... Different Dress
  • #4,823
  • Jul 31, 2008 2:10am Jul 31, 2008 2:10am
I trust all of Jacko's Turtles filled their boots with a bounce of the trendline yesterday, if so you should all be running with a free trade anytime shortly.

Regards,


BabeFX.
  • #4,824
  • Jul 31, 2008 2:37am Jul 31, 2008 2:37am
Quoting driftwood
Lou, it maybe it help if u think in terms of off-setting (a bit like carbon emissions). If u are successful at trading and its against the dollar u will have more cash to spend so helping the economy Either way your win/spend will not effect much.
Never say never.
  • #4,825
  • Aug 1, 2008 3:40am Aug 1, 2008 3:40am
Quoting Blue@Heart
Hey Folks! (and Jacko if he's still around)

I'm a newbie's newbie trader that's looking to learn Forex trading. I was pointed at this thread by someone on another forum who happens to be a turtle.

I was hoping to finish reading the thread before I posted here but I can't help myself there's just TOO MUCH good information! After reading the first 200 pages or so of this thread I feel that I have an understanding of whats going on at least on paper, (making pips regularly will be another story). I've learned about money-management, I knew what support and resistance were but I couldn't recognize them, now I feel comfortable drawing TL's.

Frankly this all just seems to make sense!

I look forward to (hopefully) contributing to the thread and as well getting feedback on my ideas!

-David
Welcome on board!
I've just joined Jacko's group, and whilst I have experience in spread betting, FX is relatively new to me. As you say, hoping to learn and contribute.
  • #4,826
  • Aug 1, 2008 6:11am Aug 1, 2008 6:11am
welcome! Be prepared to learn more than just about pips...Jacko has opened my sheltered life to world economics.
  • #4,827
  • Aug 1, 2008 9:16pm Aug 1, 2008 9:16pm
Quoting LearningPIPs
welcome! Be prepared to learn more than just about pips...Jacko has opened my sheltered life to world economics.
HAH! World economics is just one big fat pawnzie(sp?) game.......a $20 bill is a worthless piece of paper if not backed by a stable government.....

Just my 2cents.....

As long as I'm able to play the game well enough to own a Ferrari and be debt free within 20 years I'll be financially happy
  • #4,828
  • Aug 3, 2008 6:35pm Aug 3, 2008 6:35pm
Can someone please explain Jacko's system in a nutshell? I read through his website but he just mentions using support + resistance lines, the 50% fib retracement rule (how do you do that? I'm using MT4 and can't figure it out), and trading around "even" numbers. Everything is pretty vague, and I'm not sure how to start.

Thanks
  • #4,829
  • Aug 3, 2008 6:36pm Aug 3, 2008 6:36pm
Quoting lolpie
Can someone please explain Jacko's system in a nutshell? I read through his website but he just mentions using support + resistance lines, the 50% fib retracement rule (how do you do that? I'm using MT4 and can't figure it out), and trading around "even" numbers. Everything is pretty vague, and I'm not sure how to start.

Thanks
Read the entire thread
Take a report.
  • #4,830
  • Aug 3, 2008 7:07pm Aug 3, 2008 7:07pm
Quoting lolpie
Can someone please explain Jacko's system in a nutshell? I read through his website but he just mentions using support + resistance lines, the 50% fib retracement rule (how do you do that? I'm using MT4 and can't figure it out), and trading around "even" numbers. Everything is pretty vague, and I'm not sure how to start.

Thanks
lolpie:

Toyboy pulled much of it together into a pdf, here in this post:

http://www.forexfactory.com/showpost.php?p=2106537&postcount=4564

Good luck!
Indicators are to Price as Newspapers are to Bloomberg.
  • #4,831
  • Aug 3, 2008 7:27pm Aug 3, 2008 7:27pm
Quoting boiseboy
lolpie:

Toyboy pulled much of it together into a pdf, here in this post:

http://www.forexfactory.com/showpost.php?p=2106537&postcount=4564

Good luck!
Thanks bro
  • #4,832
  • Aug 4, 2008 1:35am Aug 4, 2008 1:35am
http://www.forexfactory.com/attachment.php?attachmentid=129867&d=Jul%2013,%202008%202:50pm
The market reveals who we really are...
  • #4,833
  • Aug 4, 2008 6:44am Aug 4, 2008 6:44am
Hey folks with London open for the week, and New York opening in a couple of hoursI figured I'd look into my (VERY HAZY) crystal ball and form an opinion on where this ship is going:

Looking at the Daily chart I'm seeing that we're still in the upward trend channel, however we ARE now at the bottom edge of the upward trend range. This is an area of uncertainty for me, and I don't see any fundamentals that will confirms a direction on this time frame for ME

http://img135.imageshack.us/img135/1...g040513xd1.gif


This next chart has caught my eye because it appears (to my newbie) eyes that the market is hestitant...almost waiting for something to happen to push it in a direction. What's left me with that impression is how the price is stuck in a tight range caught between the short term resistance @ 1.5600 and the bottom of the daily trend channel:

http://img95.imageshack.us/img95/661...g040514oy6.gif


I feel that IF the Euro breaks down then I'll be looking for an entry at the strong support down at 1.5300. I'm debating weather or not to look for an entry if it breaks up, but I'm not sure how to look for a good entry there. I'm looking @ 1.5300 because it seems like a no brainer point.....I'm trying to "leave my brain at the door". If it breaks up I'll probably pass for now and wait for a retrace....there'll always be a new trade tomorrow. Constructive criticism is defenitly appreciated!

http://img135.imageshack.us/img135/3...g040513uw2.gif
  • #4,834
  • Aug 4, 2008 5:16pm Aug 4, 2008 5:16pm
Quoting Lou
Yes I know this. But my point is... it is a conflict of interest.

For example: I see that you are from Spain. If your economy was in trouble would you not want it to get better? Would you bet against it getting better? Could you want it to get better but bet against it getting better at the same time?

I realize that our small trading positions have no effect on the market or the economy. But in wanting my economy to get better, it is a conflict of interest for me to take long Eur/Usd positions.

This is what I am wrestling with.
EU has moved an average of 4 pips up a day for past 7 years, but move 100 pips a day, so going long at a low price, or selling at a high price is what you probably do, and long-term up trends or down trends are irrelevant, we may start going down 4 pips a day, and it will help us economy
  • #4,835
  • Aug 4, 2008 9:44pm Aug 4, 2008 9:44pm
Anybody have any thoughts about the double top in April and July ?


Also, if Jacko strickly trades EUR/USD and only trades the trends... Does anybody know how has he been setting up his trades for the past 5 months in this non-trending market ??
It's NOT GAMBLING when the odds are in your favor
  • #4,836
  • Aug 4, 2008 10:10pm Aug 4, 2008 10:10pm
Would you recommend joining Jacko's private group to beginners? Or should you know a good amount before joining?
  • #4,837
  • Aug 4, 2008 10:24pm Aug 4, 2008 10:24pm
Hi lolpie:

Are you serious about learning how to trade forex?

Do you treat it as a business rather than a hobby?

Do you like the idea of learning from a highly successful veteran that will personally answer all your emails?

If you answered "yes" to all 3 questions above, then ask yourself, how much is this knowledge/guidance worth to you?

Good luck!


Regards;

p.s. Yes, I'm a member of Jacko's group
Being the best loser that I can be.
  • #4,838
  • Aug 4, 2008 10:38pm Aug 4, 2008 10:38pm
Quoting Blue@Heart
Hey folks with London open for the week, and New York opening in a couple of hoursI figured I'd look into my (VERY HAZY) crystal ball and form an opinion on where this ship is going:

Looking at the Daily chart I'm seeing that we're still in the upward trend channel, however we ARE now at the bottom edge of the upward trend range. This is an area of uncertainty for me, and I don't see any fundamentals that will confirms a direction on this time frame for ME

This next chart has caught my eye because it appears (to my newbie) eyes that the market is hestitant...almost waiting for something to happen to push it in a direction. What's left me with that impression is how the price is stuck in a tight range caught between the short term resistance @ 1.5600 and the bottom of the daily trend channel:

I feel that IF the Euro breaks down then I'll be looking for an entry at the strong support down at 1.5300. I'm debating weather or not to look for an entry if it breaks up, but I'm not sure how to look for a good entry there. I'm looking @ 1.5300 because it seems like a no brainer point.....I'm trying to "leave my brain at the door". If it breaks up I'll probably pass for now and wait for a retrace....there'll always be a new trade tomorrow. Constructive criticism is defenitly appreciated!
Hi,

Ya, It has broken a 1 year trendline (from 12Aug07) by about 50pips (if it is not a false breakout) and below the 61.8% Fibon Ret from 1.5300 to 1.600. It is definately heading for another big move soon and technically the bias is more on the bearish towards 1.5300 (two majors breakings).

There is about 250pips to reach the 1.5300 support line and 450pips to reach the 1.6000 resistance. I would rather wait for the Fed meeting and more confirmation about the direction technically before entering the market.

However, the long term view still bullish as pointed out by Jacko many many times. Now it is time to patiently wait for and find out the most probable support to buy long...

Regards,
Toyogo
  • #4,839
  • Aug 4, 2008 10:39pm Aug 4, 2008 10:39pm
Quoting Clouds
EU has moved an average of 4 pips up a day for past 7 years, but move 100 pips a day, so going long at a low price, or selling at a high price is what you probably do, and long-term up trends or down trends are irrelevant, we may start going down 4 pips a day, and it will help us economy
a good piece of advice
  • #4,840
  • Aug 4, 2008 11:16pm Aug 4, 2008 11:16pm
Quoting nkhnip
Hi,

Ya, It has broken a 1 year trendline (from 12Aug07) by about 50pips (if it is not a false breakout) and below the 61.8% Fibon Ret from 1.5300 to 1.600. It is definately heading for another big move soon and technically the bias is more on the bearish towards 1.5300 (two majors breakings).

There is about 250pips to reach the 1.5300 support line and 450pips to reach the 1.6000 resistance. I would rather wait for the Fed meeting and more confirmation about the direction technically before entering the market.

However, the long term view still bullish as pointed out by Jacko many many times. Now it is time to patiently wait for and find out the most probable support to buy long...

Regards,
Toyogo

I agree, I have an order in at 1.5300, we'll see what happens....
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