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Jacko's Forex House of Pleasure and Pain

  • #5,021
  • Aug 12, 2008 5:18pm Aug 12, 2008 5:18pm
Quoting BabeFX
We have reached a 50% retracement of the last part of the leg down.

Maybe a good place to look for a short trade.

Personally I will wait for another attempt to take out the 50% retrace, in other words I will wait for the close of the next 60min candle not the close of the current one.


I do have an order in the market to enter short lower down using a different method.

Regards.


BabeFX.
From Jacko's personal blog:

Edit 8.35am NY time Market is currently at 1.4910 and is showing a bit of strength after spike down to 1.4814 at 2am NY time. I believe that the market will turn up in the next 24 hours
  • #5,022
  • Aug 12, 2008 5:21pm Aug 12, 2008 5:21pm
Look back to the fundamentals of 1 feb 08 and that should show you direction 1.44 /1.35
  • #5,023
  • Aug 12, 2008 5:33pm Aug 12, 2008 5:33pm
Quoting BabeFX

I can't for the life of me remember mentioning AH.
..that's my point. Just trying to keep this thread on track that's all...
  • #5,024
  • Aug 12, 2008 5:38pm Aug 12, 2008 5:38pm
i'm interested in the raw pip totals the jacko followers are racking up over time (red and green.)

sure, everyone trades their own way, but i am interested in whether his simple "buy round numbers" and anti-hedging are prevailing in real time. (no cynicism intended)
  • #5,025
  • Aug 12, 2008 6:22pm Aug 12, 2008 6:22pm
Quoting razldazl
Just to let you know, Jacko is still looking for long positions. Im not saying you are wrong and he is right or vice versa but since this is his journal maybe you should let him make the calls here...
I share your concerns about people other than Jacko monkeying with the Jacko method Raz.

No instrument travels in a straight line, there are always large and small corrections in any trend.

Jacko's method requires traders to trade in the direction of the trend and to sit on the sidelines waiting for an entry point when the instrument is making these pullbacks.

The daily long-term trend is still up, despite this large and rapid correction. The weekly is still miles above its' long-term trendline. There may be some more to go in this correction without invalidating the long-term bullish trend.

Jacko is not providing a signal service. He is a teacher. Students are expected to study the method and show discipline and patience.

I support Raz in saying Jacko owns this thread. Jacko is responsible enough to tell everyone when he believes the trend has changed - it is not helpful to have others dismantling the very foundations of the method based upon their own analysis.

To have everyone shorting the Euro now would be to completely ignore Jacko and his method. Have the self-discipline to wait until there is evidence the correction may be over. To try to catch a falling knife and then claim the method doesn't work or the long-term trend has changed is not helpful to the thread or your account.

Just my 2 cents worth.
Attached Image (click to enlarge)
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  • #5,026
  • Aug 12, 2008 7:36pm Aug 12, 2008 7:36pm
when are the olympic games over so jacko will be back?
  • #5,027
  • Aug 12, 2008 8:12pm Aug 12, 2008 8:12pm
Quoting TraderZer0
I share your concerns about people other than Jacko monkeying with the Jacko method Raz.

No instrument travels in a straight line, there are always large and small corrections in any trend.

Jacko's method requires traders to trade in the direction of the trend and to sit on the sidelines waiting for an entry point when the instrument is making these pullbacks.

The daily long-term trend is still up, despite this large and rapid correction. The weekly is still miles above its' long-term trendline. There may be some more to go in this correction without invalidating the long-term bullish trend.

Jacko is not providing a signal service. He is a teacher. Students are expected to study the method and show discipline and patience.

I support Raz in saying Jacko owns this thread. Jacko is responsible enough to tell everyone when he believes the trend has changed - it is not helpful to have others dismantling the very foundations of the method based upon their own analysis.

To have everyone shorting the Euro now would be to completely ignore Jacko and his method. Have the self-discipline to wait until there is evidence the correction may be over. To try to catch a falling knife and then claim the method doesn't work or the long-term trend has changed is not helpful to the thread or your account.

Just my 2 cents worth.
Jacko teaches students to become an independent traders not to follow his calls , he simply telling us what he thinks and does and that doesn`t restrict anybody who is following his method to have there own opinion and trade in the opposite direction if you think it`s profitable.This correction is almost 4 weeks old and 1200 pips fat , so anybody who is buyng USD`s in the past month now is making money , because they are going with the TREND....as soon as we see some indications of reversal all you have to do is switch from red to blue because long term trend is still UP.... just my opinion
  • #5,028
  • Aug 12, 2008 8:23pm Aug 12, 2008 8:23pm
anyone else have a 50+ pip spike at 12:55GMT today?
  • #5,029
  • Aug 12, 2008 8:28pm Aug 12, 2008 8:28pm
Quoting LearningPIPs
anyone else have a 50+ pip spike at 12:55GMT today?
On IBFX ....yes I did....two other feeds I use were fine
  • #5,030
  • Aug 12, 2008 10:43pm Aug 12, 2008 10:43pm
Quoting koulda
Jacko teaches students to become an independent traders not to follow his calls , he simply telling us what he thinks and does and that doesn`t restrict anybody who is following his method to have there own opinion and trade in the opposite direction if you think it`s profitable.This correction is almost 4 weeks old and 1200 pips fat , so anybody who is buyng USD`s in the past month now is making money , because they are going with the TREND....as soon as we see some indications of reversal all you have to do is switch from red to blue because long term trend is still UP.... just my opinion
Koulda

We are probably both correct here - yes a counter-trend trade would have been the best strategy over the past 4 weeks and yes Jacko does support his private students thinking for themselves and taking counter-trend trades.

This is not the private thread...
  • #5,031
  • Aug 13, 2008 1:06am Aug 13, 2008 1:06am
This is a small part of Jacko's private blog taken from this mornings message.
Please note I have not mentioned any signal to buy or sell.

What I like about the private group is, Jacko encourages one & all to think for themselves, he goes to long lengths to point out that he isn't providing a signal service.

Private blog post below.

"Some of the more aggressive traders did very well from selling this market on Friday (and some are holding from even before that time). You have done very well. Just be cautious and good luck"

Regards,

BabeFX
  • #5,032
  • Edited 1:53am Aug 13, 2008 1:50am | Edited 1:53am
Ok
the name of this thread is what? So on here we are discussing what? Are there other successful strategies YES THERE ARE but are we discussing them on this thread NO WE ARE NOT...Jacko does not take countertrend trades, BUT HES NOT GOING TO TELL YOU YOU ARE A BAD TRADER IF YOU DO its simply not part of his strategy. So discussion of countertrend strategies dont really belong here on this thread. Jacko doesnt trade lower timeframes so comments like Im going short at the close of the next 1hr bar DONT belong here, or I am going short below here ON ANOTHER STRAT either. My god if we discussed everybodys alternate strats here ...Is this really so difficult to understand? I guess I need a break maybe Im seeing things hehe, happy trading all, Raz

PS Im banning myself from ff for a few days so if you see me back here give me a smack will you???
Never say never.
  • #5,033
  • Aug 13, 2008 3:04am Aug 13, 2008 3:04am
When trend trading make sure you know which way the market is trending, failing that sign up for a signal service & blame someone else for their flawed thinking.


Regards,


BabeFX.
  • #5,034
  • Aug 13, 2008 8:40am Aug 13, 2008 8:40am
Has Jacko email changed? I sent him few emails, but they come back as user unknown.
I inherited 'few' dollars and wanted to subscribe to his 'Managed account' and also to his daily blog and trade second account myself. What's the minimum dollar amount requirement for him to managed your money?

thank you
bela
  • #5,035
  • Aug 13, 2008 9:14am Aug 13, 2008 9:14am
Humm... for now at least the only value of this thread is in reading the beginning. (which obviously some need to do)

People posting parts of the Private blog here?? Where do they get off doing that? What part of private do they not comprehend? Yes that might seem like a minor thing but in respect & in the spirit of appreciation everyone needs to respect that the Private blog is just that.
That's jmo but I do not feel it is proper for some to bring info or postings from a private blog here.
Jacko is away for a few days and some are acting like little lost children.
That should tell some here that they have a lot of work to do.
If you cannot get an answer here I might suggest visiting Razldazl's thread as she is doing an awesome job on her thread.
Those with all the questions could learn quite a bit there.
  • #5,036
  • Aug 13, 2008 11:10am Aug 13, 2008 11:10am
"What part of private do they not comprehend?"

I second this.
  • #5,037
  • Aug 13, 2008 11:34am Aug 13, 2008 11:34am
Quoting LearningPIPs
"What part of private do they not comprehend?"

I second this.
I third this.

ibela.....Nobody is in the position to comment on your question in regards to any managed fund. If Jacko ever returns to this forum I am sure he will respond to your question. Failing that, visit his blog intro page and you will find active contact info for him: http://waynejacksonfx.blogspot.com/
  • #5,038
  • Aug 13, 2008 1:11pm Aug 13, 2008 1:11pm
Quoting ownshook
I third this.

ibela.....Nobody is in the position to comment on your question in regards to any managed fund. If Jacko ever returns to this forum I am sure he will respond to your question. Failing that, visit his blog intro page and you will find active contact info for him: http://waynejacksonfx.blogspot.com/
Thank you very much ownshook. I will check his blog.
Now if I could only interest my hubbie in forex, I wouldn't have to work that hard. .
He says it's impossible to make money if forex and it's worse than his mother in law .
Just reading this thread I can see there is hope.

ibela
  • #5,039
  • Aug 13, 2008 2:06pm Aug 13, 2008 2:06pm
Quoting ibela
Thank you very much ownshook. I will check his blog.
Now if I could only interest my hubbie in forex, I wouldn't have to work that hard. .
He says it's impossible to make money if forex and it's worse than his mother in law .
Just reading this thread I can see there is hope.

ibela
..ok somebody smack me now
Never say never.
  • #5,040
  • Aug 13, 2008 2:13pm Aug 13, 2008 2:13pm
Quoting razldazl
..ok somebody smack me now
SMACK!!!

Yours truly!

Gnat - Matt
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