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Jacko's Forex House of Pleasure and Pain

  • #6,041
  • Feb 3, 2009 1:41pm Feb 3, 2009 1:41pm
Wow - what a spike back up!
Got stopped out for a small profit.
Flat position now, watching & waiting.
  • #6,042
  • Feb 3, 2009 2:03pm Feb 3, 2009 2:03pm
Just the way it looks ...... we may likely see 3100 soon and an increased possibility of visiting 3200-50 area this week

Lets see ........maybe we can short from higher levels than the current price.
  • #6,043
  • Feb 3, 2009 2:15pm Feb 3, 2009 2:15pm
Quoting Student
Just the way it looks ...... we may likely see 3100 soon and an increased possibility of visiting 3200-50 area this week

Lets see ........maybe we can short from higher levels than the current price.
I agree - that's what I'm looking for as well.
The sell earlier was a rather easy one to spot due to price being out by itself. But I get less confident when I see it in the middle around other bars, I like to price shoot up, hit resistance and come down and not top the last previous resistance. We are now back to resistance for a retest and with such a quick push upwards, feels like buyers are coming in strong. I won't get interested in a short again until we are at least at 1.3080, maybe higher.

That's why stops are so important, I left a decent amount of profit on the table - but I'm also not in a loss. Better yet, my trade is now free to pick possibly a better position.
  • #6,044
  • Feb 4, 2009 3:05am Feb 4, 2009 3:05am
Quoting hel13rock
Hi all, I have just read this entire thread from start to finish and my brain is numb!

First of all I would like to say a big thank you to Jacko for the time and effort you have put in to helping people less experienced than yourself see the wood in the trees. If I do become a succesful trader in the future I will make it my goal to emulate your kindness and to pass on the message of how simple trading can be if only you will discard all your fancy indicators and concentrate on price action.

Second, I would appreciate an appraisal of my analysis...
Hel13rock,

If anyone can help you in your trading, it is Jacko. He has been a MAJOR influence on my trading. He has taught me to turn down the volume of my trading and make a bankload of money.

FF
  • #6,045
  • Feb 4, 2009 10:38am Feb 4, 2009 10:38am
Hi ff, I can well believe it! I intend to spend as much time as I can watching eur/usd until I have this trading methodology well ingrained.

Do you think my basic analysis of the current situation is correct? Ted
  • #6,046
  • Feb 5, 2009 2:52am Feb 5, 2009 2:52am
Quoting forexfixer
Hel13rock,

If anyone can help you in your trading, it is Jacko. He has been a MAJOR influence on my trading. He has taught me to turn down the volume of my trading and make a bankload of money.

FF
I have spent the last month reading all of his posts here and on DailyFX and on his private web blog and plotting every one of them on charts to get an understanding of how he formulates his trades.
HIS RESULTS OVER THREE YEARS ARE OUTSTANDINGLY GOOD.
His postings has a humility and modesty that belie an amazingly successful trader and his modesty is genuine and consistent over the whole period of time.


Daringdave
  • #6,047
  • Feb 5, 2009 7:12am Feb 5, 2009 7:12am
Hello to all,
Im new on this tread,
can i know if some one trade live jacko system whit consistant profit?
Thank you
  • #6,048
  • Feb 5, 2009 7:56am Feb 5, 2009 7:56am
Jacko and newbietrader101 do for starters, I don't trade 100% Jacko so you can't count me.
  • #6,049
  • Feb 5, 2009 6:33pm Feb 5, 2009 6:33pm
The thing I find extremely interesting is that jacko mentions that at one point it didn't even matter were he placed his orders. The AH method was much more important. This really proves that it's all about RM and MM. Indeed, swing trend trading in a way is really not much different from simply placing a single position trade and holding for a while. The difference is, in the first instance you are compounding along the way. You just need a MM system that doesn't stop you out all the time, while at the same time preventing a single, catastrophic event from whiping you out. AH seems to fit this nicely.

Btw, the long term Fibs on E/U have been a joy!

http://i41.tinypic.com/2lsjsz8.jpg
  • #6,050
  • Feb 5, 2009 10:35pm Feb 5, 2009 10:35pm
Quoting chrys
Hello to all,
Im new on this tread,
can i know if some one trade live jacko system whit consistant profit?
Thank you
Mate,
This question has been asked too many times in the past and they have all been answered that Jacko is the genuine article. Do a bit of work for yourself and read this thread.
From a personal point of view, I am a member of Jackos second group and I want him to keep it small. I would not like to see the golden goose get killed by making his group workload too heavy.
Everyone in his group knows his pip numbers because from August 2007, he separated them into a separate blog to make it easier to keep score. He trades 200 standard contracts in his personal accounts. $2000 a pip. He was comfortably in profit by seven figures in his first 3 months of his new blog and has continued to increase his profits in the account.
  • #6,051
  • Feb 5, 2009 10:46pm Feb 5, 2009 10:46pm
Quoting chrys
Hello to all,
Im new on this tread,
can i know if some one trade live jacko system whit consistant profit?
Thank you
I forgot to mention, I trade the jacko method, but I trade more actively than him using his comments in his blog when he says where he thinks the market is going. And my profit line keeps on going up. I have my losses but I am hugely in profit. I know that Jacko is one person I can trust to help me keep getting better. And don't call it a system because that pisses him off. He is not system seller.
  • #6,052
  • Feb 6, 2009 2:27am Feb 6, 2009 2:27am
ok thank you for your reply..
  • #6,053
  • Feb 6, 2009 2:52am Feb 6, 2009 2:52am
Quoting daringdave
I have spent the last month reading all of his posts here and on DailyFX and on his private web blog and plotting every one of them on charts to get an understanding of how he formulates his trades.
HIS RESULTS OVER THREE YEARS ARE OUTSTANDINGLY GOOD.
His postings has a humility and modesty that belie an amazingly successful trader and his modesty is genuine and consistent over the whole period of time.


Daringdave
I did the same thing. I spent weeks on charting it all, but it was a brilliant learning curve. His results are brilliant.
  • #6,054
  • Feb 6, 2009 9:00am Feb 6, 2009 9:00am
Anybody getting stoped out even with 100 pip stops these days? Happens fairly frequenty.
  • #6,055
  • Feb 6, 2009 9:14am Feb 6, 2009 9:14am
I've found by putting my stops about 20-30 pips beyond the next Support/Resistance line has been more effective than a static stop.

The risk ratio is exactly the same depending on your entry.

Example:
I want to risk 3% on a $10,000 account.
That means I don't want to lose more than $300 on this trade.
You then take the amount of pips to your stop and divide by your risk amount to get how much per lot you should be trading.

So pretend price is at 1.2850, and want to go short.
You find out resistance is at 1.2900, so you decide a stop at 1.2930 would be ideal. That means you have a stop size of 80 pips.
$300 (max risk) / 80 pips(stop) = $3.75/pip
  • #6,056
  • Feb 6, 2009 11:29am Feb 6, 2009 11:29am
Quoting dwildes
I've found by putting my stops about 20-30 pips beyond the next Support/Resistance line has been more effective than a static stop.

The risk ratio is exactly the same depending on your entry.

Example:
I want to risk 3% on a $10,000 account.
That means I don't want to lose more than $300 on this trade.
You then take the amount of pips to your stop and divide by your risk amount to get how much per lot you should be trading.

So pretend price is at 1.2850, and want to go short.
You find out resistance is at 1.2900, so you decide...
Very wise indeed...
  • #6,057
  • Feb 6, 2009 1:56pm Feb 6, 2009 1:56pm
Quoting forexfixer
Everyone in his group knows his pip numbers because from August 2007, he separated them into a separate blog to make it easier to keep score.
Just out of curiosity, how did '08 end up in total? Someone here published the total blog trade breakdown roughly halfway thru '08, and it was effectively a wash at that point. Just curious how the rest of the year worked out and if the group transitioned well from a strong euro to a strong dollar environment.
  • #6,058
  • Feb 6, 2009 2:03pm Feb 6, 2009 2:03pm
I can understand how questions regarding the profitability of Jacko's method are being asked again and again. If you spend years trying to make a buck through trading and fail or have taken several courses that did not help but put a great hole in your pocket, you become extremely suspicious.
However, making blind accusations is just not the way to go.


I'm considering joining Jacko's group, should the possibility still exist. And like many on here, I, too wonder whether it will help me to become profitable in the end. But, I guess given the small price and the positive feedback by so many on this board, the risk/reward is good, so I should take this "trade".
  • #6,059
  • Feb 6, 2009 5:33pm Feb 6, 2009 5:33pm
Quoting Trader KGB
Just out of curiosity, how did '08 end up in total? Someone here published the total blog trade breakdown roughly halfway thru '08, and it was effectively a wash at that point. Just curious how the rest of the year worked out and if the group transitioned well from a strong euro to a strong dollar environment.

Since it's all about the major trend with jacko's method, that would be a good question to have answered.

What if we fall into a ZIRP world where there is no risk premium offered on either side? Then what? Bye, bye trends.
  • #6,060
  • Feb 6, 2009 10:41pm Feb 6, 2009 10:41pm
Quoting mojojojojo
What I don't like is beginners getting trapped in his net. FYI, MONEY, yes MONEY is involved here. Hey genius, why the hell are you replying? If YOU don't like me, GO AWAY. Wow, now who really looks like a tool(you are indeed one of their minions... a group member... your post history clearly shows this). Also, the post date on the blog is December 1, 2008. It is indeed possible the mods have missed it. And I shall relay this to the mods.
You look like the tool.

I
I am one of Jacko’s members.
I am not Jacko.
I am incredibly happy being a member of Jacko’s group.
He has shown me HOW TO TRADE PROFITABLY.
I am making bigger profits than expected.
Yes, I paid MONEY to join his group.
But I recouped the joining cost with my first trade.
I am presently living, studying and trading with NewbieTrader who is another happy member of Jacko’s groups

Jacko
Jacko has laid his basic method out on the first page of this thread FREE OF COST FOR EVERYONE TO SEE.
He has shown everyone his results of live trading on page 6 of this thread FREE OF COST. http://www.forexfactory.com/showpost.php?p=1431044&postcount=85
The details of the trading of those results are available FREE OF COST.
Jacko has given his time and advice FREE OF COST here on the forum many times.
He is an incredibly successful trader who has helped lots of people here FREE OF COST.

As James16 did, he got sick of fools like you, and he opened a private group to keep disruptive people like you out.
Yes, he charges a ridiculously low fee to have access to him for one year.
He SMS messages me of all his trades BEFORE he trades so that we can trade it too, if we want.
He writes on his blog why he is making the trade BEFORE he trades so that we can understand his reasons.
He personally answers every one of my emails and questions within 24 hours.


YOU
YOU come to a respected Forex Forum and in your only FOURTH post you criticize and disrespect Jacko and James16 who are two of the most respected and successful traders on the Forum.
You come to this forum and you call another trader a tool
You, and other people like you, do many damage to Forums.
You, and other people like you, are the reason why the best traders leave here.

I am happy that Jacko and James16 set up a private forum so that I can learn to trade from successful traders and not have to read through your stupid posts.

http://www.forexfactory.com/showpost.php?p=2491022&postcount=5973
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