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Jacko's Forex House of Pleasure and Pain

  • #7,041
  • Apr 17, 2009 2:28am Apr 17, 2009 2:28am
congratulation to jacko for the educational thread here. I have been reading all of this thread and the james16 chart thread...both are sensational resources for traders
  • #7,042
  • Apr 17, 2009 2:55am Apr 17, 2009 2:55am
Quoting gregwallace
congratulation to jacko for the educational thread here. I have been reading all of this thread and the james16 chart thread...both are sensational resources for traders
it Used to be, lately its filling up with useless comments that have no educational value for those trying to learn ..."I imade 100 + pips did you get in on that?"
Weeding through the Bullsh** on this thread is getting to be a drag.
  • #7,043
  • Apr 17, 2009 3:10am Apr 17, 2009 3:10am
Quoting DanUK
Personally I would like to see more discussion here about the trading method rather than the pros and cons of joining Jacko's private group and how many pips the turtles have or haven't made. This is after all a forum about forex trading.

So if anyone is willing to discuss this method… what are your thoughts? The last entry for me was at 1.3350 as this was the closest round number to the 50% of the swing from 1.3582 to 1.3088. Made 100 pips from it (and then price fell even further!).

[color=black]Now...
Hey DanUK,
IMHO- The trading model is simple. Go back to the first posts and you can get it. It's not complicated. I don't see a need to rehash it every few posts. That is why this thread seems boring to some.
It is a disservice/ disrespectful to Jacko for someone to post his trades on the blog for others. It is not so much the trades as it is the thought process and discipline that matters. Anyone can email Jacko and ask to join the group. I'm don't know how many he would want to take.
Just my comments
  • #7,044
  • Apr 17, 2009 4:26am Apr 17, 2009 4:26am
Quoting Nanook438
Hey DanUK,
IMHO- The trading model is simple. Go back to the first posts and you can get it. It's not complicated. I don't see a need to rehash it every few posts. That is why this thread seems boring to some.
It is a disservice/ disrespectful to Jacko for someone to post his trades on the blog for others. It is not so much the trades as it is the thought process and discipline that matters.
Hi Nanook

Thank you for your post. As you said, my method is not complicated. It is simple!!
With the exception of a change in the size of the Trailing Stop Loss to 100 pips (due to the extraordinary and huge increase in the volatility of the market from August last year until recently), there has been very little change in the basic strategy.
However, traders like to fiddle with things and add layers of (historical) indicators ....which have no value because they are historical..... and try to make something that is very simple into something very complex.
As I have said previously, there is no real need to wade through the whole of this thread. The basics of my method are 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
  • #7,045
  • Apr 17, 2009 4:52am Apr 17, 2009 4:52am
Quoting Nanook438
Hey DanUK,
IMHO- The trading model is simple. Go back to the first posts and you can get it. It's not complicated. I don't see a need to rehash it every few posts. That is why this thread seems boring to some.
It is a disservice/ disrespectful to Jacko for someone to post his trades on the blog for others. It is not so much the trades as it is the thought process and discipline that matters. Anyone can email Jacko and ask to join the group. I'm don't know how many he would want to take.
Just my comments
Hi,

I think you misunderstood what I was saying. I am not new to this method, I have followed it for some time. I also agree that members of the private group should respect Jacko's wishes to keep the trades to themselves.

However, this is a forum. If we are not here to discuss the potential trades we are thinking about taking etc then what is the point of this thread? Again, I am not suggesting we "rehash" the method, but typically what happens on a forum is that followers discuss how they are thinking about trading. If that is not the case then surely this thread just becomes a discussion about whether or not one joins the private group and I would like to think that is not what the thread was intended for.

If I have misunderstood anything about how this forum works please do correct me.
  • #7,046
  • Apr 17, 2009 5:01am Apr 17, 2009 5:01am
Quoting coscorp
I don't see any issue with anyone wanting to share their own trades...ie those stemming from a strictly personal analysis that uses what Jacko's teaches...however if Jacko's private blog was involved in any manner...then I don't think it would be fair or polite do to so...notwithstanding that Jacko has in the past requested that the details of the private blog not be made public...which I find to be completely endorsable and correct - not only to Jacko himself - but also to all of those who invested the time to join his private group....
Hi Coscorp,

I agree. I personally have no problem with a member of the group posting their own trades here and discussing why and when they took the trades. Some members of the group trade more (or less) than me.

But, as you say, it would not be right (or fair on the other members of the group) for anyone to just post all my trades here.

As each of the members know, I have a very high win rate, the pips keep on adding up and I am trading very profitably. Given that most Managed funds and hedge fund have been bleeding out of their eyes with huge losses in the last 9 months, I am reasonably happy with my trading. (Mrs Jacko hasn't spent all this years profits...though she is trying very, very hard...so I know I am doing alright....LOL)

I also believe that the market is now starting to come back to a semblance of relative calm compared to the last 9 months (since August last year when volatility in the markets skyrocketed). As a group, we hunkered down and traded much more cautiously, but continued to still rack up sizable pips and profits.

As each of the members also know, now that the market is settling down, it is now time to be a little braver and ramp up the trading and aim for the super normal profits.

.
Jacko
  • #7,047
  • Apr 17, 2009 5:28am Apr 17, 2009 5:28am
Quoting coscorp
I don't see any issue with anyone wanting to share their own trades...ie those stemming from a strictly personal analysis that uses what Jacko's teaches...however if Jacko's private blog was involved in any manner...then I don't think it would be fair or polite do to so...notwithstanding that Jacko has in the past requested that the details of the private blog not be made public...which I find to be completely endorsable and correct - not only to Jacko himself - but also to all of those who invested the time to join his private group....
I've lurked here at FF for years before joining. My time (every moment) is extremely valuable to me and I don't waste or squander it needlessly.
To my understanding, FF is a forum for traders to 'share' and discuss ideas and strategies.
That said, I feel that this particular thread is filling up with "I made 100 pips & I wont show or discuss HOW I did it".
If Jacko has a 'paid' blog or forum, Great! And if the'paid' members are enjoying profits that's even better! However, he probobly also has there a chat/message board where those posters can pat each other on the back, not here on FF. If I want to read Kiddie CHat nonsense with no value, I'll go to AOL. It's time for me to stop wasting my valuable time here and unsuscribe from this particular thread, as there are dozens of threads here at FF where info is freely exchanged.

Just my 3 cents
  • #7,048
  • Apr 17, 2009 5:31am Apr 17, 2009 5:31am
I plan to sell the EUR at 1.3150, marked on my chart. Being Friday though, price will have to move pretty quick for me to take the trade as I do not want to take the position late in the day. I want to see price move up through 1.3150 by at least 10+ pips, then I will sell on the way back down.

I am new to Jacko's group here and the private group, so take nothing I say as trading advice, I am learning...I will say I have 3 trades ala Jacko style so far and no losses.

I was wondering if I would be better served to wait for a retrace closer to the 50 fib and 1.3200 minor resistance area? The more I look at this scenario the more I like it....

DS
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  • #7,049
  • Apr 17, 2009 5:44am Apr 17, 2009 5:44am
Hi Deepsouth,

Personally I would wait for a deeper correction. The 1.3150 level is a fair S/R area to watch but as you mentioned, and according to this strategy, it would be safer to wait for a move back up to the 50% retracement (currently around 1.3200).

Dan
  • #7,050
  • Apr 17, 2009 5:48am Apr 17, 2009 5:48am
probably workn in politics
  • #7,051
  • Apr 17, 2009 5:52am Apr 17, 2009 5:52am
Quote
Personally I would wait for a deeper correction. The 1.3150 level is a fair S/R area to watch but as you mentioned, and according to this strategy, it would be safer to wait for a move back up to the 50% retracement (currently around 1.3200).

Thanks Dan. The more I look at it, it just makes better sense. It would also be exactly in line with what Jacko is teaching us. Patience......I find myself excited by the possibilities, and have to be careful. I start looking for a trade rather than looking to make money. Thanks again...

DS
  • #7,052
  • Apr 17, 2009 6:09am Apr 17, 2009 6:09am
Quoting deepsouth
...I find myself excited by the possibilities, and have to be careful. I start looking for a trade rather than looking to make money.
Hi deepsouth,

I like that little quote !...

.
Jacko
  • #7,053
  • Apr 17, 2009 6:14am Apr 17, 2009 6:14am
Quoting fxpeter
quite an intelligent answer!
More like a smart-ass answer
  • #7,054
  • Apr 17, 2009 6:16am Apr 17, 2009 6:16am
Quote
Hi deepsouth,

I like that little quote !...

.
Jacko

LOL...Hi Jacko, I can't take credit for that one. I believe a couple of the senior James16 members coined that phrase...but it is very appropriate.Thanks for everything!

DS
  • #7,055
  • Apr 17, 2009 6:30am Apr 17, 2009 6:30am
Hi everyone, should we be looking for a long or short now? From the weekly chart it seems EURUSD is still in an uptrend.
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  • #7,056
  • Apr 17, 2009 6:35am Apr 17, 2009 6:35am
I took a long at 1.3100 at the daily chart whereby I drew a fibo and 50% is at 1.30948, so I set a long entry at 13100 and was stopped out at 1.3068. Anything wrong with my trade? Pls advise.
Attached Image (click to enlarge)
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  • #7,057
  • Apr 17, 2009 6:55am Apr 17, 2009 6:55am
long?...mmmm.....look at the Trend Line you have on your chart...from left to right...where is it headed? Further you could draw an even sharper angled one if you used less days for your data...for example from 31 march/1 april to yesterday...where is that headed? Next question would possibly be...where do we have possible levels of support?


Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #7,058
  • Apr 17, 2009 6:58am Apr 17, 2009 6:58am
Quoting Ray_1
I took a long at 1.3100 at the daily chart whereby I drew a fibo and 50% is at 1.30948, so I set a long entry at 13100 and was stopped out at 1.3068. Anything wrong with my trade? Pls advise.
Your Chart has a purple trend line.....
It is a line that is higher on the left hand side than the right hand side so it is pointing down.
So the market was trending DOWN in your prefered time-frame.

You traded AGAINST the trend.

So there were TWO things that were wrong with your trade:
1. You traded against the trend
2. You lost money

Not a good thing to do !!!!!

.
Jacko
  • #7,059
  • Apr 17, 2009 6:59am Apr 17, 2009 6:59am
Quoting jacko
Hi Nanook

As I have said previously, there is no real need to wade through the whole of this thread. The basics of my method are 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
I 'waded through all the posts' in this thread and all the posts in the DailyFX thread and all the posts in his blog when I was listing all Jackos trades so I could measure his results. (And they ARE good!) His basic system that he has given to everyone here on the first page is the big majority of what he does.
If you don't want to read all 471 pages of this forum then this is a good shortcut that I used
http://www.forexfactory.com/search.php?searchid=5866946

There is no doubt that Jacko is a winner trader. But Jacko is teaching me how to fish instead of giving me one fish. I have already caught a shitload of fish in just a week.
  • #7,060
  • Apr 17, 2009 7:02am Apr 17, 2009 7:02am
Ray in my opinion is not so good to enter 50% fibo if price is testing it for the 3rd time and the highs are lower than before (the negative trendline who refer coscorp and Jacko)... a negative trendline and the 3rd re-test of the 50% mean a possible break of that level.

The first time it touched 50% it was still an uptrend, so it could be a good choice, but now we are in consolidation and maybe is starting a downtrend, so it's not the same thing, it needs more cautions
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