Jacko's Forex House of Pleasure and Pain | Page 271 | Forex Factory

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Jacko's Forex House of Pleasure and Pain

  • #5,401
  • Oct 16, 2008 4:22am Oct 16, 2008 4:22am
Quoting Quickdraw
So by the lack of response to my above simple question, does that mean nobody here knows the answer??
No, it doesn't : it just means that only those who subscribe to Jacko's private group know the answer. He shares his always-interesting and constantly-updated views on his private blog daily.
  • #5,402
  • Oct 16, 2008 12:19pm Oct 16, 2008 12:19pm
Take a look at a daily chart since July. Is price rising or falling? That should be a hint.
  • #5,403
  • Oct 16, 2008 8:32pm Oct 16, 2008 8:32pm
dont know what Jacko says, but except for the small bear rallies contained within the daily chart DOWNTREND which can be played LONG, i would state that SHORT to the direction of the major trend at the moment --- one can hold the short position or dump it as the small rallies play out, taking an additional long position (balances out the margin, btw !) for the rally.

if one HOLDS the short during the rallies, youre just giving back the money youve made temporarilly during the drawdowns.

YOUR choice as how youd like to play it !

enjoy and trade well

mp



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?
  • #5,404
  • Oct 16, 2008 11:28pm Oct 16, 2008 11:28pm
Quoting jtrade
No, it doesn't : it just means that only those who subscribe to Jacko's private group know the answer. He shares his always-interesting and constantly-updated views on his private blog daily.
I agree. His blog is a very experienced view of the markets. Sometimes I begin to get all caught up in the excitement of what is happening, then I read his daily blog and see the more senior, experienced view of the situation. It brings me back to an even keel. His comments this week of what the markets have done in the past saved me from placing a stupid trade.
  • #5,405
  • Oct 18, 2008 8:23pm Oct 18, 2008 8:23pm
Quoting Fx_Genius
Here ya go.

Jacko's Trading Compiled by BarryPips (\"http://%5C%22http://www.forexfactory.com/attachment.php?attachmentid=129867&d=Jul%2013,%202008%208:50am%5C%22\")
Thanks for posting the Jacko compilation Fx_Genius.

Regardless how one trades, I think they should read this at least once a week, especially "Fisrtly" through "Finally" on the first few pages. Emotion is a trader's greatest enemy. Learning to control emotion and be patient is very key to success.
  • #5,406
  • Oct 20, 2008 1:26am Oct 20, 2008 1:26am
Jacko,

I read on the older forum (dailyfx.com) that you started out trading 600k clips back in 2006. Was this leveraged or unleveraged? If leveraged, how much leverage did you use?

Thank you for your time and effort.
  • #5,407
  • Oct 21, 2008 12:31am Oct 21, 2008 12:31am
Quoting Quickdraw
So by the lack of response to my above simple question, does that mean nobody here knows the answer??

Hi Quickdraw,

No he doesn't, I think that the break of the 9-11 low of 3882 made he changed his mind about the long run in the short term.

But an explanation by himself should be better
  • #5,408
  • Oct 21, 2008 1:12am Oct 21, 2008 1:12am
Tradethepips, thanks for the answer. And thanks also to everyone else that responded. It would be hard to imagine Jacko still advocating going long on the euro, after it's been dropping so much. Apparently he must now be going short, I suppose.
"Trading is a mental sport." - Ziad Masri
  • #5,409
  • Oct 21, 2008 4:23pm Oct 21, 2008 4:23pm
Personally, I never take any long position on EURUSD since Nov 25th. Today the pair break its sup once again.

Jacko, would be glad to hear your comment about current EURUSD condition.
  • #5,410
  • Oct 21, 2008 11:18pm Oct 21, 2008 11:18pm
A big thanks Jacko. I've been lurking for ages while I'm getting a handle on FX been trading eur/usd exclusively (still on demo for good bit longer)

I had been sitting in a deep hole with my account balance and then I started to heed Jacko's methodology... needless to say I have dug myself out of the hole I was in and now am sitting +400%. Now to see if I can keep myself out of the red for a few months before I put real $$$ on the line.

Thanks again Jacko for making the effort to show us that FX need not be as difficult as everyone says
  • #5,411
  • Oct 22, 2008 4:01am Oct 22, 2008 4:01am
Quoting The Log Lady
I had been sitting in a deep hole with my account balance and then I started to heed Jacko's methodology... needless to say I have dug myself out of the hole I was in and now am sitting +400%. Now to see if I can keep myself out of the red for a few months before I put real $$$ on the line.
Good to hear it. Patience is the key. The markets will always be here. Mind you, some politician with delusions that he can save the world might get some sort of regulation going that stops trading.
The market reveals who we really are...
  • #5,412
  • Oct 27, 2008 2:50pm Oct 27, 2008 2:50pm
I have just finished reading this entire thread and have contacted Jacko to inquire about a true forex newbie learning from one of the best. I wanted to say hello to all and I look forward to possibly joining the group. Sad to see all the harpies here griping about their losses when the market grew indecisive. Jacko plainly cautioned against "wild punting" from the very outset, and preached patience and discipline. I wish for you all, the best of trades!
  • #5,413
  • Oct 27, 2008 7:58pm Oct 27, 2008 7:58pm
Is this actually, "Hedging the Hedge". Ha

Sounds very much like it. Either way, it just got me out of a very sticky situation with my account intact.

Many thanks.
Starting to see instead of just looking.
  • #5,414
  • Oct 27, 2008 8:56pm Oct 27, 2008 8:56pm
Two months ago, I paid fee and became a Jacko member. I have read his blogs. His history was remarkable. I can tell you he is not a good technical trader. I never make short term money out of his posts. I personally like to see pips rather word and stories. I am still waiting and waiting to see where he can show us where to buy this major turning point of EURUSD.

Good luck,
Felix
  • #5,415
  • Oct 27, 2008 9:56pm Oct 27, 2008 9:56pm
Yes, I am starting to get a handle on his system, a little.

This morning I screwed up a trade on CHF/JPY short, which went against me for 50 pips. I put in another short at this point and kept the losing trade open.
It came back South after a while and I not only recuperated the loss but also about 70 pips on the second trade.
Starting to see instead of just looking.
  • #5,416
  • Oct 27, 2008 11:26pm Oct 27, 2008 11:26pm
Did you take the sell trade last Friday which Jacko called? 231 pips in the positive isn't too shabby. Jacko is not a signal service. He is teaching you how to fish. I was stopped out earlier today, set the AH trade a few hours later and ended up with a positive 62 pips, with a 100 pip TSL. I was out with the family while the sell off was really moving, or else I would have tightened the TSL up a bit. Bottom line is you need to learn what you can from the pro's (Jacko and others) and find your own voice without a signal service. Remember this bit of irony - it is discipline and following the rules that ultimately brings liberty.

Be well and good luck.
  • #5,417
  • Oct 28, 2008 3:15am Oct 28, 2008 3:15am
Hi all, woah! I don't try to be rude but, man, Jacko is not a signal service, instead of waiting for a trade call I recommend start to study this market with Jacko's guidance. Use him to learn not to buy/sell, he is not going to be around all your live (I hope a long time yes LOL) so what will you do when you get on your own? Stop trading? I pretend to be a trader with or without Jacko, but if I may count on him to learn.....EXCELLENT! Let's learn how to trade. Quick money is not better than long term huge amounts of money.
I take his trades, but I try to take my own trades under my own risk, I have lost, I have won, I have made good decisions, I have made big mistakes but I have learnt a lot . This is all about to learn, if it wasn't the idea we wouldn't paid for Jacko's guidance, would we?

Good trades to all
  • #5,418
  • Oct 28, 2008 9:43pm Oct 28, 2008 9:43pm
Quoting Hundmist
Did you take the sell trade last Friday which Jacko called? 231 pips in the positive isn't too shabby. Jacko is not a signal service. He is teaching you how to fish. I was stopped out earlier today, set the AH trade a few hours later and ended up with a positive 62 pips, with a 100 pip TSL. I was out with the family while the sell off was really moving, or else I would have tightened the TSL up a bit. Bottom line is you need to learn what you can from the pro's (Jacko and others) and find your own voice without a signal service. Remember this bit of irony - it is discipline and following the rules that ultimately brings liberty.

Be well and good luck.
Jackos blog has been a revelation to me. It shows me how a real trader of size thinks and trades. I have learned a ton from him. Before I joined his second group I mentioned his signals and received this reply.
I am not a signal service...My trades are not a recommendation. They are simply to allow you to see when and what I am trading and why.
I don't ask people to follow only my trades. My trades are simply my trades,... some of the group trade my trades PLUS their own
My positions are to identify a good medium term target, place the order, place a Stop Loss and then let the trade play itself out. There is no great need to monitor the market incessantly...It only causes traders to overtrade, and that is the biggest killer of traders

But what I have learned from his blog is better than any course in Forex trading because I have seen how a successful trader trades, I have seen other group members questions about the trades and I have seen full answers and explanations by Jacko to those questions. Also, whenever I personally have had a question, I have got a reply within 24 hours every time. It was the best thing for an inexperienced trader like me.
  • #5,419
  • Oct 29, 2008 1:33am Oct 29, 2008 1:33am
Quoting Hundmist
Did you take the sell trade last Friday which Jacko called? 231 pips in the positive isn't too shabby. Jacko is not a signal service. He is teaching you how to fish. I was stopped out earlier today, set the AH trade a few hours later and ended up with a positive 62 pips, with a 100 pip TSL. I was out with the family while the sell off was really moving, or else I would have tightened the TSL up a bit. Bottom line is you need to learn what you can from the pro's (Jacko and others) and find your own voice without a signal service. Remember this bit of irony - it is discipline and following the rules that ultimately brings liberty.

Be well and good luck.
Well said Hundmist. the number of pips I have made from Jacko is certainly not shabby.
He is the man!
  • #5,420
  • Oct 29, 2008 4:58am Oct 29, 2008 4:58am
wait here.. wait there..
Patience is the keyword here...
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