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Jacko's Forex House of Pleasure and Pain

  • #6,961
  • Apr 9, 2009 8:58am Apr 9, 2009 8:58am
from what you have posted I think you agree with me?
If not shoot me down.
Point is it takes hours , pages and pages ,to extract the good info.
often you miss it cos ur numbed by the ...er...not relevant.. being kind here!
If you could or even the owners of the thread...as some do ...just provide a summary of the latest thinking it would save hours of wasted ...and Im sure many give up b4 they they get there... hours of frustrating wasrted time.
There are nuggets here .Not just a few but lots...I Know cos Ive found them but my beef is its taken months..honest?..years to find them
Why should newbies have to do this?
  • #6,962
  • Apr 9, 2009 9:04am Apr 9, 2009 9:04am
No more posts unless things change.
Just wanted to make my point and make clear why I dont follow this thread anymore.
have to say I was very disappointed that this thread was hijacked by nonesense and basically non traders.
Then agian it pushed me in the path ,by default , genuine traders...
So in the end I have to say thanks ?

  • #6,963
  • Apr 9, 2009 9:11am Apr 9, 2009 9:11am
I agree that there is a lot of noise throughout the thread, but it happens on a free forum. Jot down the names of the handful of Jackos Turtle's that post/posted here, and read everything they say. Look closely at their charts. Draw the same trendlines and fibs on your charts...If you have already been through a lot of this thread you know some of the names to pay attention to...Just an idea.

Also here is a PDF that Barrypips put together...It has everything in it. If you need more you probably need to join Jacko's group or maybe James 16 to get more detailed help. I have just joined Jacko's group, and in time will probably join James16.

DS
Attached File(s)
File Type: pdf Jacko-4[1].pdf   276 KB | 1,029 downloads
  • #6,964
  • Apr 9, 2009 9:12am Apr 9, 2009 9:12am
Quoting begbrook
think its unfair for a newbie to wade trhu 1000'0sof none realted posts.
Get over it. How long did you go to school for your job?

Quoting begbrook
It takes hours and you dont nec learn anything cos ur so bored by the time u get to the good stuff...u can miss it..if u get to the good stuff
A summary would be a good idea.
Done and provided to this thread for a while now
Quoting Fx_Genius
I would recommend reading the file below (PDF). Barry did a great job on it.

http://www.forexfactory.com/attachment.php?attachmentid=185890&d=Dec%2024,%202008%209:32am

Then read it again. And if after reading it 2X you still have the questions feel free to post.
Quoting begbrook
Why should a newbie waste time on on the 100's of irrel posts?
not crit just asking ...and its not a learning curve ...its frustrating and disillusions newbies...
By irrelevant posts do you mean the ones that others are asking the same questions that have been recently asked and answered times over?

Sorry Jacko. Will remove if you want.

You can buy them books & send them to school but they only eat the pages.
  • #6,965
  • Apr 9, 2009 9:14am Apr 9, 2009 9:14am
When you learn to fly, you first learn basics, then you try on a simulator, and when you are ready, you do the real thing (with instructors).
If you where to go to the real thing directly, well... as any mistake could prove fatal...


It 's the same thing with trading, but mistakes will not crush a plane, but an account.

So, first you need to learn how the market works, how you manage position, and how you manage stopping losses, and when to take profits.
Then you practice a little (demo account for example)
And when you are ready (ie don't crash your account anymore) you can try the real thing.

But then again, the real thing, will always be different, because it's with real money (think of the plane analogy..).



And again, think of yourself as somebody else.

Would you give your money to a trader who never studied trading, and never tried it once? No.
Still, you are this unexperienced trader, and you are willing to give him money.
(it's the same as being operated by doctors without degrees/tutoring, or riding a plane with an unknowledgeable pilot.
  • #6,966
  • Apr 9, 2009 9:39am Apr 9, 2009 9:39am
Sounds all good and well, but he probably lost 80% due to a lack a psychological control. That can't be helped by studying this thread.

Quoting hans356
Perhaps one more thought for ya:

I was once told by a well-respected individual on FX Factory, whom I admire greatly, to study this thread like a textbook....
  • #6,967
  • Apr 9, 2009 9:52am Apr 9, 2009 9:52am
Quoting begbrook
its true...not just this but other good threads are a major project wading thu the ...not so relevent....and even if u do its very easy to skip the good stuff!
so u do ur dues, and still find ur behind! very frustrating....
I know that other sites have been all but killed by "chatters"and egomaniacs...is there no way to filter theses people?
begbrook,

I read through all of your posts, including this one above from September. So why did you need to post all of this information for a second time on the last page seeing you already expressed your feelings on the subject in September of last year?

You seem like a knowledgeable individual. Just give the little guy a break. This is a great thread! Everyone, small or large, can have something to contribute.

Let's get on with learning already, shall we?
  • #6,968
  • Apr 9, 2009 9:56am Apr 9, 2009 9:56am
Quoting fxterrapin
Sounds all good and well, but he probably lost 80% due to a lack a psychological control. That can't be helped by studying this thread.
You're probably right, but that is definitely a process as well. Overcoming the psychological side of trading comes by experience alone. The topic can be gleaned from books and articles, but one must overcome himself through experience.

Just my personal opinion. Fijitrader is a fabulous psychological coach. Perhaps trading801 should look him up.
  • #6,969
  • Apr 9, 2009 10:01am Apr 9, 2009 10:01am
Quoting Fx_Genius
Get over it. How long did you go to school for your job?.....
You can buy them books & send them to school but they only eat the pages.

I agree...definitely better to devour the information instead.

This is my first post but I've been following the thread for quite some time and can't believe what's been said in the last couple of pages.

Jacko has gone to great lengths to create one place that contains all the information and advice anyone could need. He puts in regular appearances, answers questions and even replies to personal emails very promptly in my experience. As if this isn't enough, he runs training groups which are open to anyone who's truly serious about fx. He's a busy man who still manages to be generous with his time. Other regular contributors and members of his group also provide valuable insights....and guess what? It's all in one place!

How do you think he feels when people decide it's too much bother to spend a few days reading a single thread (which took far longer to type)....and then ask if he'd mind summarising?!!!! If you actually take the trouble to do it yourself, one of the first things you learn - a key to successful trading - is to avoid the mistake of expecting something for nothing.

It's embarrassing The last thing anyone wants to do is scare him off! Let's show we've learnt something from his efforts.

Ho hum, no more coffee for me. Any thoughts on the EUR/USD then? I'm staying out for now....
  • #6,970
  • Apr 9, 2009 10:08am Apr 9, 2009 10:08am
Quoting begbrook
and Im sure many give up b4 they they get there... hours of frustrating wasrted time.
But ain´t that the difference between the ones who are successful and those who aren´t - willing to go through frustration again and again. Beaten down by the market, always getting up again and fighting back, by reading, learning, trying, failing, reading, learning, trying, failing. Over and over again.

I know it´s painful and I haven´t read this thread but many others. It takes knowledge and experience to differentiate between those worth reading and those not worth the effort.

This is a business. Treat it as one
  • #6,971
  • Apr 9, 2009 2:27pm Apr 9, 2009 2:27pm
Quoting begbrook
think its unfair for a newbie to wade trhu 1000'0sof none realted posts.
It takes hours and you dont nec learn anything cos ur so bored by the time u get to the good stuff...u can miss it..if u get to the good stuff
A summary would be a good idea.
Why should a newbie waste time on on the 100's of irrel posts?
not crit just asking ...and its not a learning curve ...its frustrating and disillusions newbies...

Why would someone move tons of earth to get a few nuggets of gold? Those few nuggets are well worth your time. The thread was not boring at all, I love forex and enjoyed the thread. Yes, there are times when it gets off subject, but there is a lot here to learn. It does not take that long to read it. You could read the whole thing in a weekend or two.
  • #6,972
  • Apr 9, 2009 2:43pm Apr 9, 2009 2:43pm
wow i totally agree.

obviously its human nature to want to get to the end of something quickly but often times its at the expense of missing something.

missing something that could have made a real difference.

my personality lends itself to a skim mentality so i have to really force myself to not do that when it concerns something important.

jim







Quoting rgrace
Why would someone move tons of earth to get a few nuggets of gold? Those few nuggets are well worth your time. The thread was not boring at all, I love forex and enjoyed the thread. Yes, there are times when it gets off subject, but there is a lot here to learn. It does not take that long to read it. You could read the whole thing in a weekend or two.
  • #6,973
  • Apr 9, 2009 2:47pm Apr 9, 2009 2:47pm
James,

What would you consider to be a "good Set-up"? Based on the 50% fib retracement against the prevailing trend, one would have taken a beating in this volatile market this week.

thanks,

Walt
  • #6,974
  • Apr 9, 2009 3:08pm Apr 9, 2009 3:08pm
Quoting jones247
James,

What would you consider to be a "good Set-up"? Based on the 50% fib retracement against the prevailing trend, one would have taken a beating in this volatile market this week.

thanks,

Walt
I wouldn't describe the market as volatile this week. I shorted with the trend from 1.3500 for a 250+ pip profit.
  • #6,975
  • Apr 9, 2009 3:38pm Apr 9, 2009 3:38pm
Quoting DaBuschi
But ain´t that the difference between the ones who are successful and those who aren´t - willing to go through frustration again and again. Beaten down by the market, always getting up again and fighting back, by reading, learning, trying, failing, reading, learning, trying, failing. Over and over again.

I know it´s painful and I haven´t read this thread but many others. It takes knowledge and experience to differentiate between those worth reading and those not worth the effort.

This is a business. Treat it as one
Yeah, totally agree. I've been going for 4-5 years now (can't even remember how long!) I got to the point of give up many times. I used to give up for a couple of months, but I kept on coming back! I really enjoy forex and really enjoy the learning process too, even if it gets frustrating at times. I have finally become profitable lately and making really good money! But I reckon even if I weren't making money i'd still be trading because I genuinely enjoy it!
  • #6,976
  • Apr 9, 2009 3:58pm Apr 9, 2009 3:58pm
Quoting james16
wow i totally agree.

obviously its human nature to want to get to the end of something quickly but often times its at the expense of missing something.

missing something that could have made a real difference.

my personality lends itself to a skim mentality so i have to really force myself to not do that when it concerns something important.

jim

In continuation of this conversation, I would say that the thread isn't really too long, be it James16, Jacko, or anyone else. Seriously! You could spend a week or two learning, and applying it possibly.....doesn't seem like a lot to ask if you are trying to change your life. If you can't be bothered to spend a few days reading.....you probably can't be bothered to put forth effort to be successful at ANYTHING.

As always, great thread Jacko...

CW
  • #6,977
  • Apr 9, 2009 4:18pm Apr 9, 2009 4:18pm
hey clock what it be?

dude you changed your avatar again?

i will always be a fan of zumbulu.

now thats a guy i could smoke a peace pipe with.

jim

Quoting clockwork71
In continuation of this conversation, I would say that the thread isn't really too long, be it James16, Jacko, or anyone else. Seriously! You could spend a week or two learning, and applying it possibly.....doesn't seem like a lot to ask if you are trying to change your life. If you can't be bothered to spend a few days reading.....you probably can't be bothered to put forth effort to be successful at ANYTHING.

As always, great thread Jacko...

CW
  • #6,978
  • Apr 9, 2009 5:30pm Apr 9, 2009 5:30pm
Quoting begbrook
think its unfair for a newbie to wade trhu 1000'0sof none realted posts.
It takes hours and you dont nec learn anything cos ur so bored by the time u get to the good stuff...u can miss it..if u get to the good stuff
A summary would be a good idea. .
Hi Begbrook

I don't have a summary but the easiest way to understand my basic method is here:

http://www.forexfactory.com/showthread.php?t=27286
(read just the first page...it is the basic method)

and here

http://www.forexfactory.com/showpost...4&postcount=85 (http://www.forexfactory.com/showpost.php?p=1431044&postcount=85) (the results)


.
Jacko
  • #6,979
  • Apr 9, 2009 6:20pm Apr 9, 2009 6:20pm
Quoting rgrace
Why would someone move tons of earth to get a few nuggets of gold? Those few nuggets are well worth your time. The thread was not boring at all, I love forex and enjoyed the thread. Yes, there are times when it gets off subject, but there is a lot here to learn. It does not take that long to read it. You could read the whole thing in a weekend or two.
Exactly how I feel. If you can't spare the time or muster the effort to learn properly you aren't going to succeed. Besides, forex is fun! The moment it seems like a chore (or bores you) surely it's time to try something different?

Nobody else can do it for you - it's about taking responsibility: first for your education and then for your trading.

I've struggled to keep the faith before, but following the example of a trader with a proven track-record makes it so much easier to stay positive. As long as I keep sight of the fact that all the hard work will pay off, I never feel like my time's being wasted - I'm always making progress.

Great thread - thanks Jacko!
  • #6,980
  • Apr 10, 2009 12:30pm Apr 10, 2009 12:30pm
Quoting jacko
Hi StoragePro,

I saw this statement and thought that I would like to correct it….(I am not upset about what you said, but it is wrong…so I would like to correct it).

On the evidence that I have , there would NOT BE ANY traders in my group that are failing….. every one of them has been learning…. and becoming more profitable (and less losses) at trading.
[color=black][font=Verdana]One of the key benefits of being mentored is that they can see and watch a trader...
Jacko -

Thanks for bothering to take the time. I've thought this over and I stand corrected.

True - a mentor can make all the difference - provided the person being mentored is properly motivated and willing to make adjustments to his thinking and psychology. Having an experienced hand in your corner is a huge help.

I consider this similar to a franchise arrangement. A long time ago I worked for a franchise - Dominos Pizza. Went through all the training and got an upclose look at how it works. *If you follow the template, and work hard, you will be successful*. A few are not though, but you'd never know it because the franchisee is ejected and a proven franchisee comes in and takes over their operations.

The wild card in all this is the franchisee himself.

The wildcard in trading is the trader himself. Having a proven mentor sure does help - a lot.

So - I am glad I did not say anything else stupid. Or I am thankful that you were too polite to point it out.

Thanks for your generosity. It means a lot to those who are dead serious about becoming traders for living.

All the best to you and your family.
I'm pretty much done with all this ...
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