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Attachments: Jacko's Forex House of Pleasure and Pain
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Jacko's Forex House of Pleasure and Pain

Quoting msc
Newbie and Trade I hope both of you will periodically post updating us on your results.
Not numbers just a quick comment like those above.
Congratulations.
Very encouraging.
Thanks for any help you can provide

msc
Yes msc, sure I will and hope older traders will do so due to their experience. Now I only trade what I see rather than what I would to. Trading and patiently waiting for my target (both, enter and exit). Now I'm short from last friday at the break of 3530 low, now in 240+ pips in profits, then again at 3300 and stopped out at 3350, when price went past 3400 put an AH order at 3350 and now in 70+ pips. My target would be on thrusday maybe at 1,30 or 1,27. Will be selling on every new break or retrace. As Jacko said once, "never step in front of an express train"

Hope this trade will work great.
Why such a rigid stance? To learn is the funniest process in live...
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
It hitted 1.3250 now, as I said, a down move. I think I am lucky again, though didn't get into trade ( I stay away for the moment till I am ready to do it in a row again)

Quoting trixtuf
Going up or down ?

Price is hovering around a 50% of the last move up but if it closes below this 1.3250 area, I don't see what would stop it all the way down to around 1.2600. The "long" term is still up though, look at monthly. Do we wait for a bottom (?) or trade down to it ?
Hi there Krue & trixtuf
A good idea is to leave your charts on daily setting by default, and if you do zoom in at all, always go back out to daily before you leave the screens. Kind of gets you in the habit.
eirronJacko only trades the Daily
Since this is Jacko's thread and he only trades the Daily, you may want to think about posting shorter time frame trades elsewhere.

??? Perhaps you should re-read his fisrt entries. It's clear he traded 30 min to start with and went to longer time frames as he grew his account. The method remained the same. With the current volitility, the 4hr is trading like the daily used to. But for your sake, I'll just watch and see what you care to show us for awhile.

What current trades should we be watching for?

Are you currently in one of his groups ?? If so, will he be posting here soon?
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
we will see 1.3100 shortly, if I am not wrong.

Interceptor, good suggestion, I will stick to daily since, too much details is always a stress to my patience. for my problem, I think the most difficult part is always rooted in the waiting process when in a trade, seems I could sustain a good deal of patience to wait the entry point hit. so, this comes to the point of setting up stoploss, I hate stoploss, but, the reality is that you only can survive with stoploss, the hurdle seems also the stoploss. not sure if my point could be understood, sorry for my poor English
krue I hate stoploss, but, the reality is that you only can survive with stoploss, the hurdle seems also the stoploss. not sure if my point could be understood, sorry for my poor English

I agree completely, stops are a must. some use what they call "disaster stops", way out of the range, just in case they lose the connection or computer freezes. These traders are usually watching the trade and will close it if they see it going the wrong way.

According to what I've read, Jacko's places a 50 pip stop and leaves it there. Then use the AH if he gets stopped out.

Your english is good enough, better than some of the hs grads my kid knows
Tradethepips Thanks to him and all members for their contribution. It totally worth it.

newbietrader101I was his very first member.


Haven't seen many recent posts from jacko's group here, do you gather on a private thread ? Is that part of being in his group ?
As I understand it (just got an e-mail from Jacko on this very subject) Jacko currently uses 100 pip stop due to higher market volatility. He uses 50 when volatility is lower. When volatility is really high instead of going above 100, he just gets more selective about his trades. These fixed stop losses are tied to the ATR.
Quoting turnip15
It would be nice if people who do not follow Jackos style and are too impatient to sit on their hands and wait for opportunities, would start another thread somewhere else and stop polluting this thread. Digressions from the Jacko type of trade means the rest of us have to wade through pointless posts that do not advance learning by example of the Jacko style of trading.

So come on Mods. - clean this thread up please.
I Agree.

Trixtuf and Krue and Interceptor, Please take your three way discusion to another thread where the three of you can talk without having Jacko or any of his group interupting you.
Quoting jamiewhite
I Agree.

Trixtuf and Krue and Interceptor, Please take your three way discusion to another thread where the three of you can talk without having Jacko or any of his group interupting you.
I'm a member of Jacko's group, so I hope you'll excuse me if I don't "take your three way discusion to another thread where the three of you can talk".
Trixtuf and Krue are obviously feeling their way in this thread, but fortunately are in a very good place to learn. Please take your superior attitude and display it where it's more welcome. ie A mirror.
Interceptor


I'm a member of Jacko's group, so I hope you'll excuse me if I don't "take your three way discusion to another thread where the three of you can talk".
Trixtuf and Krue are obviously feeling their way in this thread, but fortunately are in a very good place to learn. Please take your superior attitude and display it where it's more welcome. ie A mirror.

Thank you Interceptor ... btw I sent you a pm

Mr. KISSAs I understand it (just got an e-mail from Jacko on this very subject) Jacko currently uses 100 pip stop due to higher market volatility. He uses 50 when volatility is lower. When volatility is really high instead of going above 100, he just gets more selective about his trades. These fixed stop losses are tied to the ATR.

Don't think I read it that way ...
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
thanks too, Interceptor, for the endorsement.

what I have been trying to pursue since reading Jacko's thread is to make it clear how to determine the change of a trend at its early stage, if this point could be resolved, the rest will be much easier to handle with. I have been thinking there must be someone in this room who can shed some light on it. as trend follower, no one can escape this subject. this, I think, is part of Jacko's strategy,if you agree??? though not explicitly stated. I wish experienced successful traders could make comments.

I am well on my way pulling pieces of this thread together, thanks very much for Jacko and his members great effort.
Quoting krue
thanks too, Interceptor, for the endorsement.

what I have been trying to pursue since reading Jacko's thread is to make it clear how to determine the change of a trend at its early stage, if this point could be resolved, the rest will be much easier to handle with. I have been thinking there must be someone in this room who can shed some light on it. as trend follower, no one can escape this subject. this, I think, is part of Jacko's strategy,if you agree???...
In a nutshell, there really isn't a 'nailed on' way of determining a change of trend as early as we would all like. All you can do is break it down into probabilities. Determine the point at which you believe entry has the highest chance of success, and, conversely, the point at which you would stop believing.
The most important thing is to heighten your chances of success by trading as high a timeframe as your bank balance will allow. This will help you filter out market noise.
Patience is the key. Waiting for the 'right' trade to come along, rather than trying to force things through impatience.
It isn't easy.
Even the very best traders can suffer through impatience.
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
problematic, Interceptor, this is problematic, but, I can understand, trading is an art, rather than a science. to be honest, even if there be a systematic approach to diagnose the change, still a lot of confusing situation arise. thanks for wake me up. but, bear this in mind, I feel trading seems a desperate game, no one in reality may always stay in the 5% winning side, I guess this is probably the reality...... so, I will not believe in anyone who claims himself/herself consistantly making profit.I wish I were wrong on this point.

Quoting Interceptor
In a nutshell, there really isn't a 'nailed on' way of determining a change of trend as early as we would all like. All you can do is break it down into probabilities. Determine the point at which you believe entry has the highest chance of success, and, conversely, the point at which you would stop believing.
The most important thing is to heighten your chances of success by trading as high a timeframe as your bank balance will allow. This will help you filter out market noise.
Patience is the key. Waiting for the 'right' trade to come along, rather...
Quoting krue
problematic, Interceptor, this is problematic, but, I can understand, trading is an art, rather than a science. to be honest, even if there be a systematic approach to diagnose the change, still a lot of confusing situation arise. thanks for wake me up. but, bear this in mind, I feel trading seems a desperate game, no one in reality may always stay in the 5% winning side, I guess this is probably the reality...... so, .I will not believe in anyone who claims himself/herself consistantly making profitsh I were wrong on this point.
Hi krue, man, I guess you are VERY wrong, there are a few of consistant winning traders compared with the whole bunch of traders. Market is not designed to reward the majority. But I bet my pants that anyone that put himself together over a bad period of trades, over his emotions and stick to a plan with a suitable and tidy process of thought, will be a VERY consistant winner trader. We will not win all the trades, we can't.

Jacko is an example of this kind of traders and there are more, not too much I guess but as I did read somewhere, "market is not designed to reward the majority of traders"
Why such a rigid stance? To learn is the funniest process in live...
Quoting Tradethepips
Hi krue, man, I guess you are VERY wrong, there are a few of consistant winning traders compared with the whole bunch of traders. Market is not designed to reward the majority. But I bet my pants that anyone that put himself together over a bad period of trades, over his emotions and stick to a plan with a suitable and tidy process of thought, will be a VERY consistant winner trader. We will not win all the trades, we can't.

Jacko is an example of this kind of traders and there are more, not too much I guess but as I did read somewhere, "market...
There is no design, just a bunch of smart people trying to beat each other.
Living the adventure in my head.
Quoting Leonlorenzo
There is no design, just a bunch of smart people trying to beat each other.
Yeah man, if I would just try to beat myself I will be a very consistant trader.
Why such a rigid stance? To learn is the funniest process in live...
Quoting Leonlorenzo
There is no design, just a bunch of smart people trying to beat each other.
there is much more misleading of the herd and design in price action than you think.
Quoting Tradethepips
Yes msc, sure I will and hope older traders will do so due to their experience. Now I only trade what I see rather than what I would to. Trading and patiently waiting for my target (both, enter and exit). Now I'm short from last friday at the break of 3530 low, now in 240+ pips in profits, then again at 3300 and stopped out at 3350, when price went past 3400 put an AH order at 3350 and now in 70+ pips. My target would be on thrusday maybe at 1,30 or 1,27. Will be selling on every new break or retrace. As Jacko said once, "never step in front of...
Well, my two trades are doing it great, now I'm in 340+pips in profits from 3520 and in 170+ pips from 3350 (-50 pips fallen soldier), if price make another consolidation area will short again full lots at its break on the downside. The target would be around 1,30 or 1,27 on thrusday morning depending on the market's perception of the ECB statement. Let's see what happens.
Why such a rigid stance? To learn is the funniest process in live...
thx for the plays studying them now. Getting the method down.
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