Jacko's Forex House of Pleasure and Pain | Page 264 | Forex Factory

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Jacko's Forex House of Pleasure and Pain

  • #5,261
  • Sep 12, 2008 2:28pm Sep 12, 2008 2:28pm
Quoting Trader KGB
That level has been discussed in other threads and it was a great buy signal.
I you want to catch a falling you-know-what... but if you must then the E/U is the perfect pair... much more respect for major TLs than either Aussie or Kiwi.
  • #5,262
  • Sep 12, 2008 8:44pm Sep 12, 2008 8:44pm
Quoting tdion
so are you.
Market not treating you well, tdion?
  • #5,263
  • Sep 12, 2008 9:26pm Sep 12, 2008 9:26pm
Quoting tdion
what does my trading have to do with anything?

i said a dollar bull market was as likely as a dollar bear market, and the guy said it was "useless rubbish." sorry, but who made that dude god?
Well, why another God when we already have one.
  • #5,264
  • Sep 13, 2008 11:43pm Sep 13, 2008 11:43pm
Quoting tdion
it is a double edged sword...
Why do you think that the anti-hedging is a double edged sword ?
  • #5,265
  • Sep 14, 2008 7:49pm Sep 14, 2008 7:49pm
Quoting SeekingLight
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).
SeekingLight I agree with you........

There are scores of people who follow Jacko`s trading adventures and it is not possible for everybody to be joining Jacko`s mentorship.

I would love it if Jacko or his turtles keep us informed here of major changes in Jacko`s system.

thanks
  • #5,266
  • Sep 14, 2008 8:27pm Sep 14, 2008 8:27pm
Quoting Petea1uk
Thank you for your post Wattawatta.
I am interested in Jackos private group and wonder what I might gain from it. I would not call myself a trader (yet) but after nine months of study, frustration and a little, just a little succsses I want to push on and become more active in the markets.
As you are a member of the group I would like to know if, in your opinion, it would be suitable for someone like myself. Or, is it aimed at more proffesional/full time traders with more experience.
I would be most grateful if yourself or Jacko (if he's around) could give me a little more insight into what goes on in there!
Regards,
Pete
Hello Pete,

I joined Jacko's group last week. I have spent the weekend reading the whole thing. I am totally blown away by the treasure trove of information in the blog. It is really cool to to see how the brain of a big trader works when looking at trades. It is like standing in the trading room of a big trader and hearing him thinking out loud.
Am I glad I joined. YES!
  • #5,267
  • Sep 15, 2008 2:19am Sep 15, 2008 2:19am
Quoting tuguntrumpet
Hello Pete,

I joined Jacko's group last week. I have spent the weekend reading the whole thing. I am totally blown away by the treasure trove of information in the blog. It is really cool to to see how the brain of a big trader works when looking at trades. It is like standing in the trading room of a big trader and hearing him thinking out loud.
Am I glad I joined. YES!

Watching him in person trade is better. he is total pokerface. no emotoin at all. buys 200 lots and then goes shoping with his missus. Yowza
  • #5,268
  • Sep 15, 2008 11:41am Sep 15, 2008 11:41am
Quote
and i would love it if jacko-style traders would start posting their results (pip totals and % gains) on the journal i created in the journal forum...

would be interesting for everyone to see, i'm sure.

A friend in jacko private group told me how he suffer heavy losses trading the jacko's style.

well, i believe the man has been successful and as well his students, maybe, it was just a DD period for the system which every system has.
  • #5,269
  • Sep 15, 2008 12:33pm Sep 15, 2008 12:33pm
Quoting tuguntrumpet
Hello Pete,

I joined Jacko's group last week. I have spent the weekend reading the whole thing. I am totally blown away by the treasure trove of information in the blog. It is really cool to to see how the brain of a big trader works when looking at trades. It is like standing in the trading room of a big trader and hearing him thinking out loud.
Am I glad I joined. YES!
Thanks for reply tuguntrumpet.
Hope to see you there very shortly
Regards,
Pete
  • #5,270
  • Sep 15, 2008 6:30pm Sep 15, 2008 6:30pm
Quoting Naijafx
A friend in jacko private group told me how he suffer heavy losses trading the jacko's style.

well, i believe the man has been successful and as well his students, maybe, it was just a DD period for the system which every system has.
Hi,

I've joined the group at the moment where the market turns, so we have 4-5 consecutive losses in the row... (I didn't follow all this trades) Thanks for the proper money management that still keep my account afloat. LOL...

As other stated, it is the concept (style) of the trading method that Jacko wants to teach and share - not a signal provider. Indeed, there are Jacko traders who have traded much more successfully during the down turn period...

Thus for those who want to trade like a professional traders - want to build his trading size from micro, mini to 200 std lots without much pain and becomes emotionless, Jacko is the one.

As for this thread, I would think that sometimes later, one of the Jacko's "matured" turtle will help to continue it as Jacko is too much committed to this privite group. Hope this guy will come out sooner...

Regards,
Toyogo
  • #5,271
  • Sep 15, 2008 8:30pm Sep 15, 2008 8:30pm
Quoting newbietrader101
Watching him in person trade is better. he is total pokerface. no emotoin at all. buys 200 lots and then goes shoping with his missus. Yowza
Hi,

Absolutely, that's how a professional trader trades! The method is only less than 20%, it is the psycho that we shall master on (more than 80%)...

I used to get very nevous and fears when I've few consecutive losses but I'm now much "cool" after more than three losses... We are trying to learn how to handle what Jacko used to say "But I could be wwwwrong." when it indeed has gone wrong... It is always easy to handle a winner but how to "take it on the chin and accept the losses"...

Regards,
Toyogo

NS: I would like to share one of the view by one of Jacko's turtle :

My thoughts:
1. Trading is a mental game.
2. I benefit more from watching Jacko deal with the mental side than I could ever do by following an entry or exit on a single trade.
3. I can handle a winner. How many of us can handle a loser on big lots? Yet you take it on the chin and accept that being stopped out by 10 pips is just part of the game. This is where the lesson is for most of us turtles.
4. You said it yourself "trading is an attitude of risk to reward".
Successful trading is not about getting a perfect system. Its about how we deal with wins and losses.

What I learned from watching you:
1. No trade is guaranteed, no matter how many fundamental and otherwise logical reasons we have for any trade.
2. Even with 15+ years of experience and laser beam focus on a single pair, there will still be losses and sometimes they'll be big.
3. There are ALWAYS opportunities for woulda/shoulda/coulda. (Coulda had a stop of 110. Could had a trailling stop to limit the losses. Coulda moved stop to Break Even when the change was presented). Even on a winner.....trading gives us the woulda/coulda/shoulda. Its something we have to live with, even with a winning trade.
4. If you haven't bet the ranch then a couple of losses is no big deal
5. The trend is your friend, even when you think its not.
Thank you for being so open and sharing your trades with us. We benefit more from watching how you deal with the pain of trading than we do from watching you celebrate the pleasure.
  • #5,272
  • Sep 15, 2008 8:45pm Sep 15, 2008 8:45pm
Quoting Naijafx
A friend in jacko private group told me how he suffer heavy losses trading the jacko's style.

well, i believe the man has been successful and as well his students, maybe, it was just a DD period for the system which every system has.
I was reading Jacko's blog all yesterday and made a big bundle of money just following his advice yesterday.
If someone suffers heavy losses, then I can guess they are not trading the 2% rule. If you gamble with more than 2% then you will have drawdowns. Every system has drawdowns. Jacko says to to use 2% because it is sensible.


I AM BECOMING AN AWESOME TRADER
  • #5,273
  • Sep 15, 2008 9:12pm Sep 15, 2008 9:12pm
Quote
A friend in jacko private group told me how he suffer heavy losses trading the jacko's style.

well, i believe the man has been successful and as well his students, maybe, it was just a DD period for the system which every system has.

so my post can make people actually declared that they have lost in some trades. good!
  • #5,274
  • Sep 16, 2008 2:25am Sep 16, 2008 2:25am
Quoting wattawatta
I was reading Jacko's blog all yesterday and made a big bundle of money just following his advice yesterday.
If someone suffers heavy losses, then I can guess they are not trading the 2% rule. If you gamble with more than 2% then you will have drawdowns. Every system has drawdowns. Jacko says to to use 2% because it is sensible.


I AM BECOMING AN AWESOME TRADER
Jackos blog today is sensational. His email responses are eye opening.



I AM BECOMING AN AWESOME TRADER
  • #5,275
  • Sep 16, 2008 5:16am Sep 16, 2008 5:16am
Quoting wattawatta
I AM BECOMING AN AWESOME TRADER
Is this your PMA statement?
The market reveals who we really are...
  • #5,276
  • Sep 16, 2008 5:56am Sep 16, 2008 5:56am
Quoting shadowninja
Is this your PMA statement?
  • #5,277
  • Sep 16, 2008 7:11am Sep 16, 2008 7:11am
I wasn't taking the peepee... just wondering about the wording, that's all.

I don't like pissing on peoples' goals, hopes and dreams. We're all in the same community and should encourage each other.
The market reveals who we really are...
  • #5,278
  • Sep 16, 2008 12:38pm Sep 16, 2008 12:38pm
UPTREND EUR/UDS over?

when I look at the weekly I start my trendline in week 6 November 2005.

now I can connect the low in week 26 Feb 06 and the trendline price this week would be around 1.3500

if I connect the low in week 15 Oct 06, price this week should be around 1.4250.

last week the actual price of 1.4223 closed just under the last trendline, but the spike on Monday did not respect the trendline.

comments appreciated

AH strategy: I would say with all the volatility and uncertainty the Jacko`s are not using this strategy at the moment.
am I right?
  • #5,279
  • Sep 16, 2008 12:59pm Sep 16, 2008 12:59pm
Yonnie,
I am one of Jacko's turtles and I have only 2 trades in the last month(one winner and one loser). I took a couple trades the month prior and for the most part, I got hammered. Even with the AH strategy. These are rare times and call for caution and patients.
Be very careful with this volatility it can rip your account apart. With the Fed printing $ and handing them out to increase liquidity the only logical trend is dollar down. Having said that, nothing lately seems logical. I will just sit back and wait for the dust to settle. Too much craziness right now. Good luck with your trading. Keep some powder dry for the next leg up.
Archer
  • #5,280
  • Sep 16, 2008 4:57pm Sep 16, 2008 4:57pm
Archer, thank you for the head-up.

Yes it sure pays to be careful right now and wait for a clear direction according to the fundamentals.

I stand behind this trend strategy 100%, but with any system there will be a time to stand aside or trade in a different way until a trend establishes itself.

For more than 2 years the EUR/USD trend was so very reliable. Retraces were never more than 500 pips until the stock markets started to take a hit from the credit crisis and higher volatility became the norm.

In December 2007 we saw a retracement of 658 pips and the last one more than 2000 pips so far.

So the big question is how to trade this market if at all.

Could it be a sell order say 100 - 200 pips below a normal
retracement with a 100 pips SL and with a TSL of 200 pips once 100 pips in profit and adding on the way down?
This can only be an oncer, when the regular trend starts to fall over; not when the dust starts to settle.
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