Jacko's Forex House of Pleasure and Pain | Page 263 | Forex Factory

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Jacko's Forex House of Pleasure and Pain

  • #5,241
  • Sep 10, 2008 10:30am Sep 10, 2008 10:30am
Quoting derunentwegt
Thank you greywolf238!

As said I only read the first 60 posts. I am busy to catchup - you know its a lot to read.
You mind to tell me what rules are changed now?

regards derunentwegte
Glad to see you taking an interest in this method and your very lucid post at Sep 9, 2008 5:37am.

Rules that have changed...until/if Jacko posts them in this thread...are for the eyes of those that have invested in his blog.
  • #5,242
  • Sep 10, 2008 2:59pm Sep 10, 2008 2:59pm
Quoting ownshook
Glad to see you taking an interest in this method and your very lucid post at Sep 9, 2008 5:37am.

Rules that have changed...until/if Jacko posts them in this thread...are for the eyes of those that have invested in his blog.
ah yes I consider this invest 500$
but first I think I study this thread!
thank you for being informativ.
My experience is that first I must use my brain and see how far I can go with it.

derunentwegte
  • #5,243
  • Sep 10, 2008 9:06pm Sep 10, 2008 9:06pm
Quoting PippinL
The first Trading group that I joined was run by a guy who used to very cleverly disguise his total lack of success. He was basically preying on newbies for a monthly fee. There were some benefits to being in the group but not many and the turnover was huge as people saw the light.

Jackos' group is a different kettle of fish. It is not a signals service and the real value is in the analysis of why a trade is GOING to be taken and why it succeeded or failed.
As Greywolf says. We all take our own trades whether we follow Jacko's trade ideas or not so statistics would be impossible for most people including me.

Jacko is a Mentor to his group and not a signal or system vendor. The group is excellent value for money for the education it provides.

The main problem with forums is that they are showered with 'Holy Grail' seekers who want to load an EA for risk free prosperity. If this is you, then I wish you success.
PippinL

A good description of what Jacko has done for me in my trading. He helps me to think things through in my trades. And he can do that because he is a trader and knows what it is like to wear the emotional weight of being in a big trade
  • #5,244
  • Sep 10, 2008 9:12pm Sep 10, 2008 9:12pm
Quoting wattawatta
His results over 3 years are impressive.

http://www.forexfactory.com/showpost.php?p=1431044&postcount=85

and

http://waynejacksonfx.blogspot.com (http://waynejacksonfx.blogspot.com)


But in the last month, some of us are showing the old man a thing or two about short trading. But his private group's blog is priceless. He has showed me how to treat Forex professionally and as a lifelong business. And he is a real gentleman. Joining his group was a turning point in my trading and has given me the confidence to become a fulltime trader.

But word of warning: He is not a signal service... HE IS A TRADER...just like me and other members of the group. His trades are not a recommendation. They are simply to allow you to see when and what he is trading and why. He doesn't ask people to follow only his trades. His trades are simply his trades,... most of the group trade his trades PLUS their own.

Members of his group will understand.


I AM BECOMING AN AWESOME TRADER
Another good description of Jacko's mentoring.
  • #5,245
  • Sep 10, 2008 9:17pm Sep 10, 2008 9:17pm
Quoting tdion
and i'll say it's 50/50 for a dollar bull market.
Useless rubbish
  • #5,246
  • Sep 10, 2008 11:30pm Sep 10, 2008 11:30pm
what is better ratio?
  • #5,247
  • Sep 10, 2008 11:37pm Sep 10, 2008 11:37pm
Quoting MoreYummy
what is better ratio?
"... for which side that is easier to be pushed through..."
  • #5,248
  • Sep 11, 2008 7:58am Sep 11, 2008 7:58am
i like the anti-hedging idea. but sometimes finds it hard to apply....
  • #5,249
  • Sep 11, 2008 9:05am Sep 11, 2008 9:05am
Hi All
Jacko mentions "Use a Pyramiding Strategy to add to those Winners" in one of his early posts. Could anyone point me in the direction of some info on this and what it means

cheers

Timebandit
  • #5,250
  • Sep 11, 2008 10:35am Sep 11, 2008 10:35am
Quoting Timebandit
Hi All
Jacko mentions "Use a Pyramiding Strategy to add to those Winners" in one of his early posts. Could anyone point me in the direction of some info on this and what it means

cheers

Timebandit
It means...simply add to the position on pullbacks if going long, rallies going short....until the move is over. I like this simply because once your initial trade is in the money and you have locked in profits, you now have a risk free trade. When you add to it...two trades for the price of one!
I personally ADD to a trade via breakouts.
  • #5,251
  • Sep 11, 2008 3:05pm Sep 11, 2008 3:05pm
Hi Guys,

I recently opened an Live Account. I really like to try Jacko's method, since I am under capitalized, I appreciate if someone in this forum guide me how to use his method for traders like me. If I want to use smaller time frame, say 1h, then how many pips should I set for stop loss?

Thank you,

-myfx-
-happyTrading-myFx.
  • #5,252
  • Sep 11, 2008 3:18pm Sep 11, 2008 3:18pm
Quoting myfx
Hi Guys,

I recently opened an Live Account. I really like to try Jacko's method, since I am under capitalized, I appreciate if someone in this forum guide me how to use his method for traders like me. If I want to use smaller time frame, say 1h, then how many pips should I set for stop loss?

Thank you,

-myfx-
MyFX you must not try to change the system. SL=100 pips even on a smaller time frame. I suggest you trade the 4H. And trade smaller lots if you dont have enough money.

The math is simple no. of lots: capital needed = (100 pips x price per pip)/2%
(or use 3% if you like)
  • #5,253
  • Sep 11, 2008 4:26pm Sep 11, 2008 4:26pm
What Beaker said.

PS mimimimimi
The market reveals who we really are...
  • #5,254
  • Sep 11, 2008 4:37pm Sep 11, 2008 4:37pm
Beaker,

Thank you for the information.

-myfx-
-happyTrading-myFx.
  • #5,255
  • Sep 11, 2008 5:46pm Sep 11, 2008 5:46pm
it is a double edged sword...

Quoting terunaku
i like the anti-hedging idea. but sometimes finds it hard to apply....
  • #5,256
  • Sep 12, 2008 8:07am Sep 12, 2008 8:07am
Quoting greywolf238
derunentwegt, Jacko has been looking for short trades recently since we have been in a bearish market for a couple of months, and since the market has been so choppy latlely he has changed some other rules until he see's the Euro bull market again.
I've just read through the last 2-300 posts(i.e. from my last post up to here) and except for jacko posting he's back and razdazl&menintights, it appears there's mainly fluff.
Unless jacko starts dedicating any kind of input to the public again, this kind of thing kind of suggests he's abandoned "the public" for the sake of "the paying folks", which is both understandable and a bit of a shame.

I would have liked to see some posts here during the 2000 pip drop and something about at which point he changed his bias and why.
Especially since he used to throw in some fundamentals, those which, to the best of my knowledge, haven't really changed, at least those he chose to focus on(the deficit for one).

I don't have any feelings of malice or disappointment too much. If I have a limited amount of time and there's people who've paid for it and there's people who don't, the priorities are clear, and I don't mean this in a judgemental way. It's just how it should be.

It's just that this means this thread isn't really jacko anymore, it's become 90% wild discussions about...stuff. I'd rather not qualify it.
I do want to give a shout out to Raz and the 3-4 folks that "get it" for trying to keep it level while the rest engaged in ... contests and .. fights.

Those who are interested in this material, listen to what raz said - the core is at the beginning and in a handful of jacko's posts.


Btw myfx - if you are undercapitalized, don't trade. This isn't about "Get rich quick" and if your broker doesn't allow proper stop sizing compared to your account size for 100 pips, leave your broker, find one with micro lots.
Oanda for example as well as several others offer micro sizing or better.

Don't overstake just because you don't have enough cash lying around. Quite frankly, unless you have a large sum to begin with, in most cases trying to go for "Turn 1 into 1000" usually ends in "Turn 1 into 0 many times" more often than not.

Just saying.

Take care guys.
Trust price. Know yourself.
  • #5,257
  • Sep 12, 2008 8:15am Sep 12, 2008 8:15am
Quoting SeekingLight
I've just read through the last 2-300 posts........
Just saying.

Take care guys.
I think you should change your nick to BringingLight
  • #5,258
  • Sep 12, 2008 12:30pm Sep 12, 2008 12:30pm
Quoting SeekingLight
Unless jacko starts dedicating any kind of input to the public again, this kind of thing kind of suggests he's abandoned "the public" for the sake of "the paying folks", which is both understandable and a bit of a shame.

I would have liked to see some posts here during the 2000 pip drop
Agreed, a bit surprised by his absence, but it's understandable.
  • #5,259
  • Edited 2:30pm Sep 12, 2008 2:12pm | Edited 2:30pm
Hi @all,

I have to admit I did not read the last 300 pages (maybe because of reasons seeking light mentioned some posts above , and before I begin to ask questions concerning suggested SL of 100 instead of 50 I rather ask what you think of the current situation.

BIG Confluences:
I wonder that noone wrote about it.
It may be a big support using a trendline drawn in the Weekly

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_20080912.jpg Size: 99 KB



In Daily, then, we can see an excellent hammer, followed by today's big move up.
Additionally, we see a very round number 1.4000 (high of hammer), and 50% Retracement from Nov2005-July2008 (Low of hammer)
Should one maybe get jumpy?

Attached Image





Regards, Lowen
[strange I cannot login to FF using Opera anymore ]
  • #5,260
  • Sep 12, 2008 2:26pm Sep 12, 2008 2:26pm
Quoting Lowen
I wonder that noone wrote about it.
It may be a big support using a trendline drawn in the Weekly
That level has been discussed in other threads and it was a great buy signal.
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