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Jacko's Forex House of Pleasure and Pain

  • #5,381
  • Oct 5, 2008 8:00pm Oct 5, 2008 8:00pm
Quoting Aad
That and among some other weird things that seem to correlate around/near that date (Governmental, Financial, Biblical, and or Environmental). But I'm not trying to be a doom and gloomer so I'll leave it at that, the rest could be Googled.

Yes I know it sounds...
If you do some research you will see that 7th October 08 is significant.
  • #5,382
  • Oct 5, 2008 10:43pm Oct 5, 2008 10:43pm
Quoting Lowen
Hey thanks for the ideas.
personalme:
for USD/JPY:
I wouldn't say this being in a downtrend on any timeframe really. Am I missing sth?
And EUR/JPY looks like EUR/USD, doesn't it?

I also remember Jacko looked at GBP/USD occasionally btw.., but that's the same as with EUR/JPY..
Lowen
Lowen, on what TF do you use? On my weekly and daily chart, in my subject opinion, its trending lower. Sup is arround 96.00 I think. But sure with such current volatility, 4H TF won't work.

@Everybody
Does your chart also has a gap on EURUSD and EURJPY? Just need a confirmation.

My EURJPY short was triggerred with minor loss on Friday and I lost a chance to catch the gap

Mayan prophecy end of day? No way!! I've just start my third post today on FF.
  • #5,383
  • Oct 6, 2008 1:34am Oct 6, 2008 1:34am
Check Oanda; they start from open in Australia.
The market reveals who we really are...
  • #5,384
  • Oct 7, 2008 3:29am Oct 7, 2008 3:29am
I can't remember whether we're allowed to offer deviations any more, so apologies if not... anyway, I've been experimenting. I notice that in today's volatile market, it can fly 150 pips in your favour then fall back 150 pips so you might see on average 50 pips profit a trade (which considering the volatility, isn't that great)... so I've been setting targets of 100-200 pips (depending on time of day) with a 50 pip stop and a 100 pip auto trailing stop. Given that even with a target of 100 pips, that'd mean using a trailing stop size of 100, you'd see 200 pips profit before the market retraces (possible but not that common an occurrence) having a target of 100 pips is like the market did hit 200 pips before a major retrace, even if it only hit 130 pips. Thoughts?

One thing I have learnt in my years of trading: adapt or die.
The market reveals who we really are...
  • #5,385
  • Oct 7, 2008 10:09am Oct 7, 2008 10:09am
Quoting shadowninja
Thoughts?
Hi shadow,

if u don't find the right entry you'll get stopped out fast, right?
  • #5,386
  • Oct 7, 2008 10:16am Oct 7, 2008 10:16am
Quoting Lowen
Hi shadow,

if u don't find the right entry you'll get stopped out fast, right?
Well, of course. But if you're trading the trend, you're more likely to pick up 150 pips at a time. You've just got to be right at least once every three hits to break even.
The market reveals who we really are...
  • #5,387
  • Oct 7, 2008 2:12pm Oct 7, 2008 2:12pm
Good idea shadow. But i prefer to broader the stop and smaller my size. On daily basis I usually use 50 pips trailstop. But today I have to widen my stop into 100 trailstop. I also read on previous posts that Jacko also suggest the same thing (cmiiw).

Does volatility kills or a friend to you?
  • #5,388
  • Oct 7, 2008 3:00pm Oct 7, 2008 3:00pm
Quoting personalme08
Good idea shadow. But i prefer to broader the stop and smaller my size. On daily basis I usually use 50 pips trailstop. But today I have to widen my stop into 100 trailstop. I also read on previous posts that Jacko also suggest the same thing (cmiiw).

Does volatility kills or a friend to you?
Yes, Jacko said that he's widened the stop to 100 pips.

Volatility? It's like Christmas has come early. 400 pips locked-in profit from A/U and E/U by end of Monday afternoon! It's rare that I do that well.
The market reveals who we really are...
  • #5,389
  • Oct 7, 2008 10:49pm Oct 7, 2008 10:49pm
Quoting shadowninja
Yes, Jacko said that he's widened the stop to 100 pips.

Volatility? It's like Christmas has come early. 400 pips locked-in profit from A/U and E/U by end of Monday afternoon! It's rare that I do that well.
Lol. I thought I'm the only lucky guy who got the pips from AUDUSD. I miss EURUSD but have USDCAD for replacement. But I consider it as a luck since I'm not really like volatility. Btw, have you always watch your chart with 50 pips stop? It's hard to find a good entry point with 50 pips stop today.
  • #5,390
  • Oct 8, 2008 3:02am Oct 8, 2008 3:02am
Well, yes, I wouldn't, for instance, sell at the top of a peak or buy at the bottom of a dip unless you can see it retrace off a strong support/resistance level or trend line. As someone once told me, bottom pickers get smelly fingers. What I prefer to do is place an order 50-100 pips away from the highest/lowest point (always trading in the direction of the trend). The more the volatility at the time, the further away I place the order.
The market reveals who we really are...
  • #5,391
  • Oct 8, 2008 7:34am Oct 8, 2008 7:34am
Jacko I really really really like your anti-hedging strategy. It turns more than 50% of my losers into winners!
greets
  • #5,392
  • Oct 10, 2008 12:45pm Oct 10, 2008 12:45pm
This is my first time to check in on this thread in awhile. I was wondering if Jacko is still advocating going long on the euro?
"Trading is a mental sport." - Ziad Masri
  • #5,393
  • Oct 14, 2008 4:49am Oct 14, 2008 4:49am
Quoting Phalanx0904
Jacko I really really really like your anti-hedging strategy. It turns more than 50% of my losers into winners!
greets
I have used it very effectively on my trades. It sure turns any losers trades into profits.

I AM BECOMING AN AWESOME TRADER
  • #5,394
  • Oct 14, 2008 4:54am Oct 14, 2008 4:54am
Quoting wattawatta
I have used it very effectively on my trades. It sure turns any losers trades into profits.

I AM BECOMING AN AWESOME TRADER
  • #5,395
  • Oct 14, 2008 6:09am Oct 14, 2008 6:09am
I think with jacko not posting here, and allot of the members going off on a tangent, this thread is going to die out slowly and i would hate to see it go.
  • #5,396
  • Oct 14, 2008 6:20am Oct 14, 2008 6:20am
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!
I have just been reading Jacko's blog. It is so funny this week. I guess that he thinks that the Wall St Bankers are getting off too lightly.
One excerpt is, The only thing that they should be offering these bankers is to hand over all their assets or a shared jail cell with big bad Bubba ( the big dumb-ass bankrobber who never got past elementary school,...and who has never had a girlfriend).

His view of the market for stocks is a real memory of an experienced person who was actually there in the 1987 crash and his sense of history is good when he puts it all in perspective. I didn't know that the stockmarket fell 90% in the depression. Or that the Nasdaq fell 76% from 2000 to 2002. Or that the Dow Jones Index fell more than 22% in a day. His call last year of the Dow going to 10,000 was inspired. His blog is the first thing I read each day. His attitude to trading has been a real inspiration to me. I am learning in leaps and bounds now.
Thanks for helping us, Jacko
  • #5,397
  • Oct 14, 2008 10:43pm Oct 14, 2008 10:43pm
Quoting tuguntrumpet
I have just been reading Jacko's blog. It is so funny this week. I guess that he thinks that the Wall St Bankers are getting off too lightly.
One excerpt is, The only thing that they should be offering these bankers is to hand over all their assets or a shared jail cell with big bad Bubba ( the big dumb-ass bankrobber who never got past elementary school,...and who has never had a girlfriend).

His view of the market for stocks is a real memory of an experienced person who was actually there in the 1987 crash and his sense of history is good when he puts it all in perspective. I didn't know that the stockmarket fell 90% in the depression. Or that the Nasdaq fell 76% from 2000 to 2002. Or that the Dow Jones Index fell more than 22% in a day. His call last year of the Dow going to 10,000 was inspired. His blog is the first thing I read each day. His attitude to trading has been a real inspiration to me. I am learning in leaps and bounds now.
Thanks for helping us, Jacko


Wow, that is sensational front page of advice. The men seems to know what it is all about. Is he really that good?
Is there a summary of his system anywhere, The number of posts is too many to read.
  • #5,398
  • Oct 15, 2008 12:52am Oct 15, 2008 12:52am
Quoting mongreldog66
Wow, that is sensational front page of advice. The men seems to know what it is all about. Is he really that good?
Is there a summary of his system anywhere, The number of posts is too many to read.
Is he really that good? Yep !
  • #5,399
  • Oct 15, 2008 5:10am Oct 15, 2008 5:10am
Quoting mongreldog66
Wow, that is sensational front page of advice. The men seems to know what it is all about. Is he really that good?
Is there a summary of his system anywhere, The number of posts is too many to read.
Here ya go.

Jacko's Trading Compiled by BarryPips (http://www.forexfactory.com/attachment.php?attachmentid=129867&d=Jul%2013,%202008%208:50am)
  • #5,400
  • Oct 16, 2008 2:06am Oct 16, 2008 2:06am
Quoting Quickdraw
This is my first time to check in on this thread in awhile. I was wondering if Jacko is still advocating going long on the euro?
So by the lack of response to my above simple question, does that mean nobody here knows the answer??
"Trading is a mental sport." - Ziad Masri
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