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Jacko's Forex House of Pleasure and Pain

  • #7,421
  • May 4, 2009 5:05am May 4, 2009 5:05am
Quoting digitil
this has been asked a zillion times elsewhere on FF - but I'm curious which brokers Jacko Group Members are trading with and why?
Hi digital

I am always curious/ fascinated / intrigued why people want to know which brokers members of my group or I use...??

Regarding my brokers,we use 4 of the biggest brokers, but I had a bad experience about two years ago (well before I started the first group) where I gave the information about our brokers to a young guy (who in turn told some other traders) and they all started pestering our brokers saying that they were “very good friends” of mine and wanted special deals etc on spread. And when a trade went against them they said they would get Mark involved to “sort it out”.
It nearly wrecked our relationships with the brokers and I never want to go there again. Mark was furious about it. And the young guys even thought that we were unfair when we said that we didn't want them using Marks and my names as a lever, so I lost a friendship there. It turned into a real mess so I don't intend doing that again.

Regarding members of the group and their brokers, I don't recommend any one broker to any of the group. I don't recommend any brokers to the group at all. I don't want to be seen to be "affiliated" or recommending any brokers. I would not want to be seen to be promoting one broker over any other. (It could give an impression that I am “influenced” or “incentivised” to refer members of the group to them…which I have never done).

What I do recommend is that traders deal only with the bigger (and more reputable??) brokers. Then just have a look at their platforms and choose the one you feel most comfortable with working with.

.
Jacko
  • #7,422
  • May 4, 2009 5:51am May 4, 2009 5:51am
Quoting jacko
Hi digital

I am always curious/ fascinated / intrigued why people want to know which brokers members of my group or I use...??

[font=Verdana]Regarding my brokers,we use 4 of the biggest brokers, but I had a bad experience about two years ago (well before I started the first group) where I gave the information about our brokers to a young guy (who in turn told some other traders) and they all started pestering our brokers saying that they were “very good friends” of mine and wanted special deals etc on spread. And when a trade went against them...
I'm amazed I even read of such incidents occurring....I wonder what people think (or IF they stop 1 nanosecond to even worry about it) when they pull stunts like that....


very unfortunate...but I can't blame you for your reaction to it...
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #7,423
  • May 4, 2009 8:39am May 4, 2009 8:39am
Hi should we use the default 50 pips SL/TSL for other pairs instead of the 100 pips currently used for the EUR pairs?

Also, when drawing the .5 fib line, is it necessary to join up the most recent high and low? Can we choose any highs/lows prior so that it would intersect the trend line at an "comfortable" place (e.g. the intersection point not before current time, not too close and not too far away in the future from current price)
  • #7,424
  • May 4, 2009 8:44am May 4, 2009 8:44am
Quoting anskaven
Hi should we use the default 50 pips SL/TSL for other pairs instead of the 100 pips currently used for the EUR pairs?

Also, when drawing the .5 fib line, is it necessary to join up the most recent high and low? Can we choose any highs/lows prior so that it would intersect the trend line at an "comfortable" place (e.g. the intersection point not before current time, not too close and not too far away in the future from current price)

that's for you to decide - on this thread we tend to concentrate only on EUR USD as Jacko trades only this pair.
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #7,425
  • May 4, 2009 9:51am May 4, 2009 9:51am
you are free to leave at anytime....
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #7,426
  • May 4, 2009 10:59am May 4, 2009 10:59am
Hi everyone!

I am new to this thread, and I would like to thank Jacko and everyone for great information here.

Well, I would like to ask some advice on the current situation in EUR/USD.

According to my 4H chart, it seems like trend is going down(downtrend). And, in daily chart, trend is also going down. In weekly chart, I see a triangle pattern, so I can't tell exactly which way it is going. Finally, in monthly chart, it looks like it is going up(uptrend).

Well, as you can see, I am confused about the current situation. Please give me some help & advice on this issue.

Thanks in advance.

Regards,
oookie.
  • #7,427
  • May 4, 2009 11:04am May 4, 2009 11:04am
Quoting oookie
Hi everyone!

I am new to this thread, and I would like to thank Jacko and everyone for great information here.

Well, I would like to ask some advice on the current situation in EUR/USD.

According to my 4H chart, it seems like trend is going down(downtrend). And, in daily chart, trend is also going down. In weekly chart, I see a triangle pattern, so I can't tell exactly which way it is going. Finally, in monthly chart, it looks like it is going up(uptrend).

Well, as you can see, I am confused about the current situation. Please give...
Well if you notice the downtrend in 4H and daily, then if you trade those timeframes you are set. IMO the weekly is going to messed up for a while beacause of the crazy volatility.
  • #7,428
  • May 4, 2009 11:19am May 4, 2009 11:19am
go away mall,or is it fxpeter pimppips,go fishing somewhere else
student
  • #7,429
  • May 4, 2009 11:21am May 4, 2009 11:21am
Quoting oookie
Please give me some help & advice on this issue.
Hi, oookie.

GriffCo made a good point. Remember what Jacko says . . . pick a time frame that you like and that fits you the best, whether that time frame is H4, Daily or whatever. (Keep the time frames above H4. Anything below H4 is simply noise.) Then base most of your decisions off of that time frame. You can compare it to larger time frames for trend analysis or support and resistance, but focus the majority of your efforts on the time frame you choose.

Hope this helps
  • #7,430
  • May 4, 2009 11:44am May 4, 2009 11:44am
GriffCo, Hans356,

Thanks a lot for your help and advice.

Regards,
oookie.
  • #7,431
  • May 4, 2009 12:32pm May 4, 2009 12:32pm
Quoting mall
proof it, no talk walk the walk
Is that the proof that you posted more than the actual posts that you have read?
  • #7,432
  • May 4, 2009 12:40pm May 4, 2009 12:40pm
Quoting GriffCo
*Edit* BTW anyone have a clue for why the market has jumped 200 pips the last 2 4H candles?
May 4 (Bloomberg) -- Pending sales of U.S. existing homes posted their first back-to-back gain in almost a year in March and construction spending ended a six-month slide, spurring a rally in stocks and sell-off in Treasuries.

http://www.bloomberg.com/apps/news?pid=20601087&sid=apix.38yRBpk&refer=home
  • #7,433
  • May 4, 2009 12:45pm May 4, 2009 12:45pm
I would have that would have strenghtened the dollar...not weaken it...I think the stock market rally is a viable candidate for those candles


edit..I missed the second part...my bad..sorry....
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #7,434
  • May 4, 2009 12:52pm May 4, 2009 12:52pm
I think what we might be seeing is that a sign of improvement in the overall economy weakens the USD status as a "safe haven". This "safe haven" status has IMO artificially strengthened the dollar - so if the world is in less need of this "safe haven", the dollar weakens. Hence EURUSD strengthens...

This is counter intuitive in "normal" economic terms and this effect will disappear when the global economies normalise and the USD comes back to some sort of equilibrium point

my 2 cents....
  • #7,435
  • May 4, 2009 12:53pm May 4, 2009 12:53pm
Quoting coscorp
50 lots x 4 brokers...


you do the math....


anycase I've wasted enough time with you..

Cheers
Dear coscorp,

I want you to know that I appreciate your contributions. They are geared toward helping other people. Thank you.
  • #7,436
  • May 4, 2009 1:01pm May 4, 2009 1:01pm
thank you for your words msenocak...but I don't feel I do anything that spectacular truth be said...try to help when I can..as others did in the past when I was in the same situation...and my learning curve is far from over..

I just wish certain people would actually take the time to do some reading and research before slinging mud all over the place forcing others to clean up after them...but everyone has to have their fun don't they?

cheers
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #7,437
  • May 4, 2009 1:08pm May 4, 2009 1:08pm
Quoting msenocak
I want you to know that I appreciate your contributions. They are geared toward helping other people. Thank you.
As I have mentioned a few times before, Coscorp is a student of Jacko's that should be listened to. He's smart and intuitive. All of us would be better if we would follow the leaders of this thread.
  • #7,438
  • May 4, 2009 1:16pm May 4, 2009 1:16pm
This chaps my hide!

http://www.reuters.com/article/politicsNews/idUSN0334332620090504

Notice the last two paragraphs on the second page:

"Swiss banking giant UBS AG acknowledged in February that it helped U.S. clients conceal assets from their government. It agreed to pay a $780 million fine and has since identified about 320 of its American clients.

"The U.S. government is now suing UBS in a civil case to reveal the identities of 52,000 Americans suspected of using accounts at the bank to hide about $14.8 billion of assets."

(Please note: I live in Canada, but I am an American citizen, and I do not agree with the decisions the U.S. government is making.)
  • #7,439
  • Edited 2:14pm May 4, 2009 2:01pm | Edited 2:14pm
Quoting hans356
As I have mentioned a few times before, Coscorp is a student of Jacko's that should be listened to. He's smart and intuitive. All of us would be better if we would follow the leaders of this thread.

unfortunately i am not one of the ones trading with large banks/funds now...but I really wouldn't want a job like that anyways...enjoying my free time quite a bit and can take care of some family issues..

edit..considering some of the bonuses' amounts being thrown about in the media...what the heck...I'd take it...for a short while...
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #7,440
  • May 4, 2009 2:02pm May 4, 2009 2:02pm
Quoting mall
Ok, I trade with 2 brokers does this proof I trade 2/50 or 100 Lots each time, this does not mean a thing.
Hi, mall.

You're totally going overboard on this, buddy. The last three pages of this thread have been laced with troll-ism. Initially, you were upset at fxtrader29 for not sending a PM to Jacko because fxtrader29 was so excited about his success. But the last three pages of troll-ism could have been avoided and instead all of this conversation could have been done in a PM. Don't you think? But seeing you have yet to activate this option, you clearly do not want people PM-ing you.

Please . . . if you are going to advise someone to do something (fxtrader29 sending a PM to Jacko), then ya better be willing to do it yourself as well. Because you're not doing ANYTHING but clogging up this thread!

Coscorp has been nice to you and answered all of your questions. So please be a good forum member and respect him or please leave.
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