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Jacko's Forex House of Pleasure and Pain

  • #5,081
  • Aug 15, 2008 10:55pm Aug 15, 2008 10:55pm
Quoting TraderZer0
MIT

Are you using Jacko's method to short the Euro on the 4H?
No man, while I like jacko much, our style is just different.. What sadden me is this, I like this thread very much I really learned a lot from him in fact I look up for him, this is the first place I learned about the importance of round number..

And now I see someone badmouth jacko saying that his method doesn't work.. even worse saying that his method was a big joke.. it's just not right guys, everyone has their own style of trading..

Jacko's method works great in a trending market and if you want to be a trend trader, you have to accept the consequences (small win/loss ratio, be patience waiting at the sideline, going for a bigger bucks, etc..etc)

But, what I see is this, they said they were all wanted to be a trend trader and now when the market turn around they're acting like a lost duck.. even worse, blaming someone else for their losses.. The trend is not your friend, friend always stood by your side all the time.. The trend is your lover until she cheats and take away your car ..

Its just an outside opinion guys..
  • #5,082
  • Aug 15, 2008 11:46pm Aug 15, 2008 11:46pm
who knows, where can i learn briefly about jacko trading style???
  • #5,083
  • Edited Aug 16, 2008 12:18am Aug 15, 2008 11:56pm | Edited Aug 16, 2008 12:18am
Quoting AMFfx
who knows, where can i learn briefly about jacko trading style???
You might consider reading the first 7 posts of this thread, then you can ask some questions.
Same Whore .... Different Dress
  • #5,084
  • Aug 16, 2008 12:40am Aug 16, 2008 12:40am
You are 10 times more polite than me, John....

Quoting johnedoe
You might consider reading the first 7 posts of this thread, then you can ask some questions.
  • #5,085
  • Aug 16, 2008 6:53am Aug 16, 2008 6:53am
Quoting AMFfx
who knows, where can i learn briefly about jacko trading style???
Try the link below. It's a PDF of the first pages.

http://www.forexfactory.com/attachment.php?attachmentid=106726&d=Apr%2026,%202008%209:43pm
  • #5,086
  • Aug 16, 2008 11:39pm Aug 16, 2008 11:39pm
Quoting doberman
Fundamentals
Not fundementals... sentiment.
  • #5,087
  • Aug 18, 2008 4:20am Aug 18, 2008 4:20am
Quoting Men'inTights
No man, while I like jacko much, our style is just different.. What sadden me is this, I like this thread very much I really learned a lot from him in fact I look up for him, this is the first place I learned about the importance of round number..

And now I see someone badmouth jacko saying that his method doesn't work.. even worse saying that his method was a big joke.. it's just not right guys, everyone has their own style of trading..

Jacko's method works great in a trending market and if you want to be a trend trader, you have to accept the consequences (small win/loss ratio, be patience waiting at the sideline, going for a bigger bucks, etc..etc)

But, what I see is this, they said they were all wanted to be a trend trader and now when the market turn around they're acting like a lost duck.. even worse, blaming someone else for their losses.. The trend is not your friend, friend always stood by your side all the time.. The trend is your lover until she cheats and take away your car ..

Its just an outside opinion guys..
I have been sitting on a long term short at 1.5900 for a 1150plus pip profit. This is the biggest profit from a single trade I have ever made. I want to thank Jacko for helping me change to a more mature trader. Jacko tells me that I am an aggressive trader and has been very good at giving me advice about being careful in going against the trend, but he has never once said that I was trading in the wrong way. ButI no longer feel the need to make multiple trades every day like I used to do. I have changed my time frame for trades from the very short to the much longer time frames and my life is a much better place to be now. My girlfriend says I am a nicer person to be around now that I am not looking at the computer all the time.
I can now see that Jacko is right when he talks about setting up your trading pattern so that you can be a trader for the rest of your life. The way I was trading before was giving me headaches and heartburn. I was having panic attacks in the middle of the night and I was almost ready to give the business away as too difficult. His advice about trading has set me back on the road where I can keep on keeping on. I still get worried about my trades but jacko’s sense of calmness and professionalism in letting the trade play itself out has taken all the extra fear away from me. His replies to my emails are always straight to the point and very helpful, even when he has been in China for the Olympics. Jacko, you cannot believe the difference you have made to me. You are a top bloke
  • #5,088
  • Aug 18, 2008 4:27am Aug 18, 2008 4:27am
An interesting article on US banking woes.
This game's got a long way to play.
http://www.citywire.co.uk/adviser/-/news/fund-manager-views/content.aspx?ID=311704&Page=1
  • #5,089
  • Aug 18, 2008 10:15am Aug 18, 2008 10:15am
I am not a jacko turtle.i like jackos style of trading and follow it.Iam still a newbie but from him i have learnt to see the chart begin from the bottom left of page to the top right of page and call it an UPTREND. I have also learnt to draw a line from the lowest low to the highest high and call it a FIBONACCI RETRACEMENT. Now am learning to stay out of the market since i don't want to go short. Or maybe i should target the 50% retrace? but how do i know my chart is okay, newbie that iam!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: euro retracement.jpg Size: 57 KB
Click to Enlarge Name: euro retracement 2.gif Size: 19 KB
  • #5,090
  • Aug 18, 2008 1:15pm Aug 18, 2008 1:15pm
I know I said I would no longer post on here but this is what I've just sent to Jacko to support his view of the LONG term trend if it helps anyone. This is just my opinion.

"I don't follow EW since you can only tell what happened after it happened and nobody knows where its going until it gets there. Might sound like conundrums but its true. What I did learn though and it has been shown to be correct many times over is that on a Weekly Chart with a 12,26 MACD, the histogram for Wave 5 is always smaller than the histogram for Wave 3. Also, but not always correct, but a high probability, is that Wave 4 is a negative histogram.

Looking at the EUR/USD Weekly, you can see Wave 1 started Nov 2006 and Wave 3 ended 7/13/08 and therefore Wave 4 begins. It looks like the Feds/Funds want to drive it down to major support around 1.4350/1.4300 which should produce the negative histogram (or lower positive histogram) for Wave 4. After Wave 4 bottoms, Wave 5 begins, which, if really a Wave 5, will produce a smaller positive histogram which also signifies negative divergence. See chart attached.

You can see further proof of this in all its glory if you pull up the GBP/USD Weekly Chart with a 12/26 MACD. Wave 3 ended 12/12/04, Wave 4 ended 11/20/05 and Wave 5 ended 11/04/07. Now look at the histograms, the height of Wave 5 histogram is smaller than the height of Wave 3 histogram therefore confirming the Wave 5.

About as much use as a crack in a glass eye eh? Now if we could only see this happening in REAL TIME!

Anyway, this confirms your Funny Mentals that we are in a Wave 4 and the next high with Wave 5 is expected and the Long Term Trend is still up (until the Wave 5 top).

The longer the time frame, Weekly and Monthly, the more accurate this is. It does not work on the Daily and anything below as the MACD just throws out too many divergences (I know, since I have tried to make this work!).
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd weekly.gif Size: 19 KB
  • #5,091
  • Aug 18, 2008 1:26pm Aug 18, 2008 1:26pm
Quoting forexfixer
I have been sitting on a long term short at 1.5900 for a 1150plus pip profit. This is the biggest profit from a single trade I have ever made. I want to thank Jacko for helping me change to a more mature trader. Jacko tells me that I am an aggressive trader and has been very good at giving me advice about being careful in going against the trend, but he has never once said that I was trading in the wrong way. ButI no longer feel the need to make multiple trades every day like I used to do. I have changed my time frame for trades from the very short to the much longer time frames and my life is a much better place to be now. My girlfriend says I am a nicer person to be around now that I am not looking at the computer all the time.
I can now see that Jacko is right when he talks about setting up your trading pattern so that you can be a trader for the rest of your life. The way I was trading before was giving me headaches and heartburn. I was having panic attacks in the middle of the night and I was almost ready to give the business away as too difficult. His advice about trading has set me back on the road where I can keep on keeping on. I still get worried about my trades but jacko’s sense of calmness and professionalism in letting the trade play itself out has taken all the extra fear away from me. His replies to my emails are always straight to the point and very helpful, even when he has been in China for the Olympics. Jacko, you cannot believe the difference you have made to me. You are a top bloke
Hello all,

I've been following the thread and have a question for ForexFixer - first off great going and I think most of us understand everything you listed as - at least myself - been there done that - now to my question - how do you manage your lot size? ie do you tend to stick with one lot size or as the trend progresses in your favour - add on lots as you go along (allowing for margin requirments risk to capital % etc etc etc)?

All this does come back to one of the bascis (as I saw them) indicated by jacko - ie having enough money to properly fund your account - personally if I am to trade standard lots I could never manage a 100 pip S/L at this stage - but I don't want to go to far off track....


of course if anyone has 300k to let me use as capital I'm more than willing...


on another note I wholeheartedly endorse the sentiment regarding jacko himself - he was very prompt and available via email notwithstanding he was at the Olympics so kudos to him from me publicly - and another reason why I applied to become a turtle myself.

For me education is a lifelong enduring process....

Cheers.
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #5,092
  • Edited 6:23pm Aug 18, 2008 5:26pm | Edited 6:23pm
HI some one call jacko
tell him doberman says the trend is short
The eru is going down now
If something gos the same way for over two weeks
that is a trend in this case the eru is short as in it is going down in value
against the usd
Let him know and let me know if he knows what we know
tell him that we have to get on with or life's as two men have died of hunger
already.
  • #5,093
  • Aug 18, 2008 5:30pm Aug 18, 2008 5:30pm
Quoting doberman
HI some one call jacko
tell him doberman says the trend is short
The eru is going down now
If something gos the same way for over two weeks
that is a trend in this case the eru is short as in it is going down in value
against the usd
Let him know and let me know if he knows what we know
tell him that we have to get on with or life's as two men have died or hunger
already.
Same Whore .... Different Dress
  • #5,094
  • Aug 18, 2008 5:37pm Aug 18, 2008 5:37pm
Quoting doberman
HI some one call jacko
tell him doberman says the trend is short
The eru is going down now
If something gos the same way for over two weeks
that is a trend in this case the eru is short as in it is going down in value
against the usd
Let him know and let me know if he knows what we know
tell him that we have to get on with or life's as two men have died or hunger
already.

So after 7 years of a bullish euro 2 weeks is all it takes to say "the trend has changed"?

RIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIGHT.........
  • #5,095
  • Aug 18, 2008 5:53pm Aug 18, 2008 5:53pm
Quoting doberman

If something gos the same way for over two weeks that is a trend ....
Too much time at the pub?http://www.forexfactory.com/%5Burl=h...g%5D%5B/url%5Dhttp://www.clipartof.com/images/emot...from_a_mug.gif

The temperature here has been going up for the last 2 weeks (Chi-Town), will it continue through December?
  • #5,096
  • Aug 18, 2008 6:12pm Aug 18, 2008 6:12pm
Quoting doberman
HI some one call jacko
tell him doberman says the trend is short
The eru is going down now
If something gos the same way for over two weeks
that is a trend in this case the eru is short as in it is going down in value
against the usd
Let him know and let me know if he knows what we know
tell him that we have to get on with or life's as two men have died or hunger
already.
Wow.
Take a report.
  • #5,097
  • Aug 18, 2008 6:44pm Aug 18, 2008 6:44pm
Don't know if thats a good wave or not...I,m thinking 120 in the next six to nine months. The us dollar should become very strong..Of course there will be more banks going under, but the US always comes back ...Careful............


Quoting eirron
I know I said I would no longer post on here but this is what I've just sent to Jacko to support his view of the LONG term trend if it helps anyone. This is just my opinion.

"I don't follow EW since you can only tell what happened after it happened and nobody knows where its going until it gets there. Might sound like conundrums but its true. What I did learn though and it has been shown to be correct many times over is that on a Weekly Chart with a 12,26 MACD, the histogram for Wave 5 is always smaller than the histogram for Wave 3. Also, but not always correct, but a high probability, is that Wave 4 is a negative histogram.

Looking at the EUR/USD Weekly, you can see Wave 1 started Nov 2006 and Wave 3 ended 7/13/08 and therefore Wave 4 begins. It looks like the Feds/Funds want to drive it down to major support around 1.4350/1.4300 which should produce the negative histogram (or lower positive histogram) for Wave 4. After Wave 4 bottoms, Wave 5 begins, which, if really a Wave 5, will produce a smaller positive histogram which also signifies negative divergence. See chart attached.

You can see further proof of this in all its glory if you pull up the GBP/USD Weekly Chart with a 12/26 MACD. Wave 3 ended 12/12/04, Wave 4 ended 11/20/05 and Wave 5 ended 11/04/07. Now look at the histograms, the height of Wave 5 histogram is smaller than the height of Wave 3 histogram therefore confirming the Wave 5.

About as much use as a crack in a glass eye eh? Now if we could only see this happening in REAL TIME!

Anyway, this confirms your Funny Mentals that we are in a Wave 4 and the next high with Wave 5 is expected and the Long Term Trend is still up (until the Wave 5 top).

The longer the time frame, Weekly and Monthly, the more accurate this is. It does not work on the Daily and anything below as the MACD just throws out too many divergences (I know, since I have tried to make this work!).
  • #5,098
  • Aug 18, 2008 7:47pm Aug 18, 2008 7:47pm
Ok question for one of Jackos turtles:

how long should I leave an AH trade on the table?

I ask beacause right now I have two wounded soldiers laying on the battlefield calling desperatly for a medic. One's at 1.5701 and one's at 1.5199.....

I do believe that the long term trend is for a bullish dollar.

but my question is: the one soldier is a thousand pips away!

how long do I leave that AH trade on the table?
  • #5,099
  • Aug 18, 2008 7:50pm Aug 18, 2008 7:50pm
you leave them until they are picked up........ if this is indeed a trend reversal, that may be a very long time. If this is just a big retracement before the trend resumes it may be another few weeks.
Same Whore .... Different Dress
  • #5,100
  • Aug 18, 2008 7:56pm Aug 18, 2008 7:56pm
Quoting Blue@Heart
Ok question for one of Jackos turtles:

how long should I leave an AH trade on the table?

I ask beacause right now I have two wounded soldiers laying on the battlefield calling desperatly for a medic. One's at 1.5701 and one's at 1.5199.....

I do believe that the long term trend is for a bullish dollar.

but my question is: the one soldier is a thousand pips away!

how long do I leave that AH trade on the table?

That's a good question, I've been following this thread with interest. The AH trade is a good strategy, but what if the price turns against the AH, do you AH an AH?
Trade the reaction, not the news!
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