Jacko's Forex House of Pleasure and Pain | Page 300 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Chicky's House of Pleasure and Pain 11 replies

Carry Backet w/ Jacko's AH 10 replies

Hello Guys is a pleasure to be here. I'm new to MT4 1 reply

Jacko's P&P Trend Trading Method 73 replies

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

Jacko's Forex House of Pleasure and Pain

  • #5,981
  • Edited 3:01pm Jan 24, 2009 2:47pm | Edited 3:01pm
I wouldn't consider reading or posting here a waste of my time...quite the contrary - we could put this space to good use - as other threads - and talk about what trade setups we see setting up. The fact that Wayne doesn't trade at the same time doesnt mean we can't if we feel it's warranted. Regarding the rest...I don't mind some laughs when I read certain posts - and a glean a lot from the more experienced traders that choose to share their views here...
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #5,982
  • Edited 4:46pm Jan 24, 2009 4:43pm | Edited 4:46pm
Quoting eirron
My best recommendation to anyone serious about trading for a living is to join Jacko's group. Trying to learn from posts of others not trading the Jacko style or egotistically trying to out-pip other posters or posting trades "after the fact" is a recipe for financial disaster - I know, I've been there and done it!
I agree with this.

For those that are part of the group, "real time" is really what Jacko's blog is for. He does a fantastic job of keeping people abreast of upcoming trades that meet the criteria. Sadly, like threads before this, it has become a pip measuring contest that serves nobody.

coscorp, you appear to have the right attitude in laughing off the posts that serve no purpose other than ego feeding.

Anyhow, it was just my two cents about posting in this thread. Jacko has outlined the variables for his style and many posts add additional variables that do not have the success, or has yet to show, that the Jacko style does. It is quite the simple style of trading and I am sure that if traders went back over a large sample of trades (using the hard right edge) to implement the trades backtest style, they will quickly grab much of what they need to know.

I want to add in this video i found on youtube...I am not related to this company. It shows the power of the 50% ala Jacko.
http://ca.youtube.com/watch?v=7VSWqM0jfIQ
  • #5,983
  • Jan 25, 2009 5:33am Jan 25, 2009 5:33am
It's an (understandable) shame that Jacko hasn't enough time to occasionally post on this thread. It would help to keep it 'on track' for new arrivals.
Also, it's difficult to know what you can and can't post on here.
Take the J16 group as a comparison. The cost of the PF is a LOT more expensive than Jacko's PF, yet there does not seem to be any 'firewall' between PF members and newbies as far as the impartation of knowledge gained from the PF is concerned. Hence the FF thread continues to serve as a vibrant and valuable learning resource, and also as a recruiting point for potential PF members. I, for one, have found membership of Jacko's PF to be immensely rewarding(even this year!!!), but I'd love to see Jacko's thread on here return to being a busier, more 'today's market action', orientated discussion thread.
  • #5,984
  • Jan 26, 2009 8:18am Jan 26, 2009 8:18am
Perhaps it is time this thread is closed since very little new information is posted and there is a growing number of trolls
every Saint has a past. Every Sinner has a Future
  • #5,985
  • Jan 26, 2009 9:06am Jan 26, 2009 9:06am
Looks like it's time to prepare for some shorts.
Price has shot up too much too fast.

Once I see it hit decent resistance on the H4 and fail to penetrate resistance on the 2nd attempt, that'll be confirmation and I'll start building a short position.
  • #5,986
  • Jan 26, 2009 10:20am Jan 26, 2009 10:20am
Quoting tuguntrumpet
[color=black][font=Verdana]Idiots like this are the reason that good traders like Jacko don’t stay around...

you must be delusional to say that, I got some pm from the group members and they told me how things really are.
  • #5,987
  • Jan 26, 2009 3:40pm Jan 26, 2009 3:40pm
Quoting dwildes
Looks like it's time to prepare for some shorts.
Price has shot up too much too fast.

Once I see it hit decent resistance on the H4 and fail to penetrate resistance on the 2nd attempt, that'll be confirmation and I'll start building a short position.
dwildes - that's an interesting strategy, do you have a particular rule about when to start building your position, i.e. after the second 4H failure closes or after a certain movement?

I can't see any reason why this thread should be closed - it provides very valuable info for newbies and if those who have become successful trading this way should decide to help, I can't imagine Jacko would be affronted by that. I was under the impression that the fee to join Jacko's or James16's Private Forums was to ensure that only dedicated trades would join in order that the mentors could provide a more personal service - not to profit from it. After all they are already make enough trading, right!?
  • #5,988
  • Edited 4:32pm Jan 26, 2009 4:24pm | Edited 4:32pm
Quoting DanUK
dwildes - that's an interesting strategy, do you have a particular rule about when to start building your position, i.e. after the second 4H failure closes or after a certain movement?
Thanks DanUK - here's what I do in a nutshell.
I go to the Daily (sometimes the weekly - just to see where we are) to find the best support/resistance levels for the level that price is currently at. I then go to the H4 to draw the trendlines & horizontal support/resistance. After I set my bias of a down or up move, I then wait for confirmation of support/resistance that would support my decision. I will then watch the trendlines on the H1 for continuation. You'll always see the reversals/changes on the lower trendlines first that warn you when you should act.

To me at least - the methodology is the same as Jacko where I find the trend using the larger timeframe, and use the lower ones to fine tune my entry only. The things I do differently is not use the 100pip trailing stop, I had rather use the support/resistance reactions to help show me if it's time to get out, add to the position or hold. I suppose instead of just setting the trade and forget it, I manage it a bit more - especially if I'm trying to get aligned in a move.
  • #5,989
  • Jan 27, 2009 5:44am Jan 27, 2009 5:44am
Darn - looks like I was a few hours late to get in on that nice short from the 1.3330 area. The PIN bar on the H1 right through a resistance area was the kind of setups I like to see. Hopefully price will come back up to test resistance and fail to give me a chance to get in. The ideal setup would see price quickly shoot through the weekly resistance pivot around 1.3260 and quickly come back down to close under it, to create a nice PIN bar on the H1 or the H4 chart.

I've taken a few shorts yesterday, but they all ended with a stop at B/E so I knew the upswing wasn't done yet. The E/U hasn't had a nice 50% retracement since the rise on 1.2850 area on the H1. If price comes to the 1.3100 area before going up again, I'll be missed my opportunity for this short.

Anyone else have any plans for this week?
  • #5,990
  • Jan 27, 2009 7:27am Jan 27, 2009 7:27am
Hi dwildes,

Thank you for your explanation, it seems to fit in with this strategy as far as I can see! I had 1.3300 on my radar as I like round numbers that act as strong s/r levels. Also the 1 hour pin (although not strictly Jacko styley) was a good signal if you hadn't taken 1.3300 itself. Either way you take it you could have your stop at b/e by now, looking forward to potential profit with no risk.

I must admit I didn't take the trade, because I am not trading Jacko style at the moment - although I am still studying his method as I would like to progress to this type of trading one day!

Quoting dwildes
Darn - looks like I was a few hours late to get in on that nice short from the 1.3330 area. The PIN bar on the H1 right through a resistance area was the kind of setups I like to see. Hopefully price will come back up to test resistance and fail to give me a chance to get in. The ideal setup would see price quickly shoot through the weekly resistance pivot around 1.3260 and quickly come back down to close under it, to create a nice PIN bar on the H1 or the H4 chart.
  • #5,991
  • Jan 27, 2009 7:32am Jan 27, 2009 7:32am
Quoting Interceptor
It's an (understandable) shame that Jacko hasn't enough time to occasionally post on this thread. It would help to keep it 'on track' for new arrivals.
Also, it's difficult to know what you can and can't post on here.
Take the J16 group as a comparison. The cost of the PF is a LOT more expensive than Jacko's PF, yet there does not seem to be any 'firewall' between PF members and newbies as far as the impartation of knowledge gained from the PF is concerned. Hence the FF thread continues to serve as a vibrant and valuable learning resource, and also...
Hi Interceptor,

1. Thanks for bringing this to my attention. I can’t speak for James16 because I don’t personally know him, but the only reason that I haven’t been here very much is that I have just been very busy. I have my own considerable trades to look after, a private Managed Fund, my two small groups which keep me very busy and I have a wife that likes to travel. And I am trying to enjoy “retirement”…LOL

Having said that, the two groups are an exciting bunch of traders, some very experienced, some novices, some old and some young…..But the best thing of all is that they are ALL courteous and they are ALL serious and committed to becoming great traders.

2. As to keeping the thread “on track”, it is actually very hard to get off “the track”. The method of my trading is outlined very clearly (I thought) at the start of this thread on Page One.
My basic method hasn’t changed a great deal except to allow for bigger 100 pip Stop Losses due to the extraordinary increase in the volatility of the Euro/USD pair.

3. As to what you can and can’t post here, there is no restriction on any of my members whatsoever. I can only assume that members of the groups would consider seeing my trades posted here as a breach of my privacy. And in all honesty, I think that that may be the difference between my groups and any other groups. They get to see what and when I trade and why I take those trades. They are real trades and nothing is posted or sent after the event except for the review of the trade’s results. It is all laid out clearly…I hope… and in advance of me taking any positions, so each member of the group knows exactly what I am thinking and doing. If a trader decides to follow me in a trade is up to them. Some trade more than me, some trade less.

I will try to answer the rest of our post later as I have some work to do at the moment…but I will be back soon
  • #5,992
  • Jan 27, 2009 7:42am Jan 27, 2009 7:42am
Wow it's an honour to be here when Jacko stops by! Hope you are well sir!
  • #5,993
  • Jan 27, 2009 7:50am Jan 27, 2009 7:50am
Quoting DanUK
Hi dwildes,

Thank you for your explanation, it seems to fit in with this strategy as far as I can see! I had 1.3300 on my radar as I like round numbers that act as strong s/r levels. Also the 1 hour pin (although not strictly Jacko styley) was a good signal if you hadn't taken 1.3300 itself. Either way you take it you could have your stop at b/e by now, looking forward to potential profit with no risk.

I must admit I didn't take the trade, because I am not trading Jacko style at the moment - although I am still studying his method as I would...
Yes, as as Jacko mentions - the round numbers hold a lot of weight. That's why when we see price penetrate one of them and can't hold it, then it's a fantastic signal for a move in the other direction, especially if it's around a nice resistance or support area. Just a shame I missed it - but there will be plenty of other opportunities. There are good ones like that every week.

What's great about his style is that it's rather easy to mimic. You'll do a lot of waiting as you strengthen your ability to be patient, but in the end it helps clean your head of the noise on the charts and helps you develop trading plans. Everything you really need is at the first few pages of the thread. Once you understand his style, you may or may not need to modify for your own trading style. Practice, practice, practice. (on demo) :-)
  • #5,994
  • Jan 27, 2009 7:51am Jan 27, 2009 7:51am
Quoting jacko
......
I will try to answer the rest of our post later as I have some work to do at the moment…but I will be back soon

Good to see ya on here Jacko!
I appreciate all you've done for me.
  • #5,995
  • Jan 27, 2009 8:16am Jan 27, 2009 8:16am
Quoting Interceptor
Also, it's difficult to know what you can and can't post on here.
Take the J16 group as a comparison. The cost of the PF is a LOT more expensive than Jacko's PF, yet there does not seem to be any 'firewall' between PF members and newbies as far as the impartation of knowledge gained from the PF is concerned. Hence the FF thread continues to serve as a vibrant and valuable learning resource, and also as a recruiting point for potential PF members. I, for one, have found membership of Jacko's PF to be immensely rewarding(even this year!!!), but I'd...
Hi Interceptor,

I am back...As discussed above, there is no "firewall" between the PF (Private Forum?) and here. So I can only assume that because my trades are specific entry and exit numbers which members would understand to be private, that they don't discuss them here in an open forum. That is just correct and well mannered behavior. As someone said in another post, what is said in a private blog to a group of private members should stay in the group. That is just plain good manners.

Having said all that, another reason that I think the traders in the group are trading so well, is because they are NOT being macho and bullheaded with each other and are being more productive by spending time usefully improving their own trading. We have had some great successes, with some of the traders now trading as prop traders for institutions, a bigger number have become full-time traders and some others are working with me in a private Fund. The best thing for me though, is that they all just improve their own trading and their results. That is the first principle that I try to achieve with each of them. The second principle is to be modest about their successes.

Jacko

PS...If I am a LOT less expensive than any other training, it is only because I am not a training program per se, I am just a trader trying to help traders improve their trading by letting them see ALL my mistakes...LOL....


.
  • #5,996
  • Jan 27, 2009 8:20am Jan 27, 2009 8:20am
Quoting tuguntrumpet
The first page of this thread is the best advice from a genuine large successful trader that I have seen.
His results are topclass. http://www.forexfactory.com/showpost.php?p=1431044&postcount=85 (http://www.forexfactory.com/showpost.php?p=1431044&postcount=85)
I am a member of his second group and he is trading with very solid results over the last six months.
Hi Tuguntrumpet

Thank you for your kind words

.
  • #5,997
  • Jan 27, 2009 8:22am Jan 27, 2009 8:22am
Quoting dwildes
Good to see ya on here Jacko!
I appreciate all you've done for me.
Hi Dwildes

Thanks also

.
  • #5,998
  • Jan 27, 2009 8:42am Jan 27, 2009 8:42am
Hi Jacko, and thanks for that.
I think the point which I was trying to make(badly!), is that once a trader joins your PF it becomes a little 'awkward' for them to post live trades on here and discuss them with 'newbs', because even though the trades are their own there will be a perception(probably accurate) that the trades are PF inspired trades. As you quite rightly state it would be bad manners to post your trades on here, but it's also often an encouragement for newbies to 'see' more experienced traders in action, and to be able to pick their brains as to the why's and wherefore's etc. I would personally much rather a new trader gravitates towards this thread than venturing deep into "Indicator Hell" as I did. Two years of 'ExponentialSuperCrossoverParabolicPitchforkChannel' trading was, in my hindsight, a little bit too long!
A difficult balancing act.
  • #5,999
  • Jan 27, 2009 10:13am Jan 27, 2009 10:13am
Quoting Interceptor
Hi Jacko, and thanks for that.
I think the point which I was trying to make(badly!), is that once a trader joins your PF it becomes a little 'awkward' for them to post live trades on here and discuss them with 'newbs', because even though the trades are their own there will be a perception(probably accurate) that the trades are PF inspired trades. As you quite rightly state it would be bad manners to post your trades on here, but it's also often an encouragement for newbies to 'see' more experienced traders in action, and to be able to pick their...
Hi Interceptor,

OK, now I see the dilemma.

Hmmm..Perhaps the solution is to start your own thread to discuss your trades... and other traders potentially interesting trades...and what you are learning from each trade.

BUT start the thread with a BIG disclaimer that your trades are exactly that...YOUR trades.

Jacko

PS All traders should stay away from "Indicator Hell"
  • #6,000
  • Jan 27, 2009 1:42pm Jan 27, 2009 1:42pm
Hello Jacko - a pleasure to see you here.

John
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
0 traders viewing now