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Jacko's Forex House of Pleasure and Pain

  • #7,581
  • May 14, 2009 8:36am May 14, 2009 8:36am
Quoting fxtrader29
Great kudos to jacko. The bloke has crystal balls. And BIG ones
All this week he has been telling us that the Euro/USD would drop to 3550 and then go up. I sold at 3700 and closed at 3550 for 150 pips profits. Then reversed and bought at 1.3550 and am in the green for another 50 pips bcos the Euro is 1.3607 now.
200 pips x $20 a pip.
Lets keep on going bcos this is getting to be terrific fun.
Even though, I do not do fibo, here is a graph trying to make sense of the trade call. Interesting.
Still I feel that we are in limbo and all trades are deep in gambling world.
Attached Image
Empty as water and soft as a facing wind mountain
  • #7,582
  • May 14, 2009 10:35am May 14, 2009 10:35am
Quoting LeveragedJoe
However, I find your post above misleading and pointless.
Now, LJ, let's not get hasty. Despite fxtrader29 being a taxman, we can still be nice to him. (LOL!!! "Taxman" . . . I crack myself up. He's a CPA.)

fxtrader29 just joined the private group a month or so ago and is having fabulous success following Jacko's leads and trade calls. fxtrader29 is following Jacko's method, but he is also taking things a step further and trading aggressively according to Jacko's calls. There is nothing wrong with this. If you have the stomach to do it, then I'm sure many more would be doing exactly the same thing.

I think VERY FEW have done the research that fxtrader29 has done on Jacko and his past performance, and if he has such great faith in Jacko and his ability to trade, then there isn't anything wrong with taking aggressive positions according to Jacko's leads.

We all know Jacko is still human, but he has a sense into this market that only a handful have. Jacko thrives in limbo, lambo or lumbo where the rest of us merely sit in amazement at how he does it. If fxtrader29 is so EXCITED about his profits, then let him post.

I don't think it was nonsense and whimsical.
  • #7,583
  • May 14, 2009 10:44am May 14, 2009 10:44am
Quoting luSan
Even though, I do not do fibo, here is a graph trying to make sense of the trade call. Interesting.
Still I feel that we are in limbo and all trades are deep in gambling world.
Hi, luSan.

I'm not sure if the 38.2% had much to do with it; however, I could be wrong. But I do agree with you that we're in limbo right now. It's an uptrend, but a limbo-ing uptrend.
  • #7,584
  • May 14, 2009 11:18am May 14, 2009 11:18am
You know the one big problem with trading like Jacko (I trade a similar method to him)... it is soooo boring.

*goes off to play web games*
The market reveals who we really are...
  • #7,585
  • May 14, 2009 11:38am May 14, 2009 11:38am
Quoting shadowninja
You know the one big problem with trading like Jacko (I trade a similar method to him)... it is soooo boring.

*goes off to play web games*
It's not boring it's perfect! You can do other things while working! Get rosetta stone and learn a language in between trading.
  • #7,586
  • May 14, 2009 12:43pm May 14, 2009 12:43pm
Learning a language between trading, if only Rosetta Stone would learn us MT4 coding language That gave me a good laugh Nothing wrong with it though.

Fxtrader29, congrats on the good results! IMO he has the right to share his excitement and results using Jacko's method.

Quoting GriffCo
It's not boring it's perfect! You can do other things while working! Get rosetta stone and learn a language in between trading.
  • #7,587
  • May 14, 2009 1:09pm May 14, 2009 1:09pm
Quoting GriffCo
It's not boring it's perfect! You can do other things while working! Get rosetta stone and learn a language in between trading.
I have a Learn Mandarin CD right here. I suppose I should dust it at least.

I do play the piano while trading. Set the MT4 chart to HUGE and I can just glance over my shoulder at the screen occasionally.
The market reveals who we really are...
  • #7,588
  • May 14, 2009 1:16pm May 14, 2009 1:16pm
Quoting GriffCo
It's not boring it's perfect! You can do other things while working! Get rosetta stone and learn a language in between trading.
I suspect that was his point since he wrote that he trades a similar method.

Personally, I love for my trading to be boring so long as it frees me up to do other stuff.
  • #7,589
  • May 14, 2009 7:10pm May 14, 2009 7:10pm
Since we are all trading jacko style here i wanted to throw up a chart with trend lines to see if we are all on the same page. I like to mark minor supports as well. But let me know if you all concur or have something different. I think this thing still has upside to it but would wear down anyones patience at this point. i think because of the positive day n equities the sentiment is still bullish. I could see this thing having 60-80 more pips to the upside easily,,,,,

bulls
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Whats happening in EUR/USD should be happening to you!
  • #7,590
  • May 14, 2009 7:30pm May 14, 2009 7:30pm
Quoting BullsAndBear
Since we are all trading jacko style here i wanted to throw up a chart with trend lines to see if we are all on the same page. I like to mark minor supports as well. But let me know if you all concur or have something different. I think this thing still has upside to it but would wear down anyones patience at this point. i think because of the positive day n equities the sentiment is still bullish. I could see this thing having 60-80 more pips to the upside easily,,,,,

bulls
My friend, your charts are full of lines...too confusing for me.
Here is my 1D chart. It seems that PA is full of uncertaintly facing a wall at ~1.3750...Note the alternation of bulls and bear bars...and the 1W current bar is almost a doji...PA does not know what to do. I think that Obama daily preaching is confusing the market!

I suspect that we are going south...
probably the best is to stand at the side and watch before committing...since I am just switching to this way of trading and testing it, I am buying dollars..
Attached Image
Empty as water and soft as a facing wind mountain
  • #7,591
  • May 14, 2009 9:43pm May 14, 2009 9:43pm
Quoting luSan
My friend, your charts are full of lines...too confusing for me.
Here is my 1D chart. It seems that PA is full of uncertaintly facing a wall at ~1.3750...Note the alternation of bulls and bear bars...and the 1W current bar is almost a doji...
I do get that sometimes,,,lol. i only glance at certain ones but go off the plain ole 4h and try to keep it simple. I agree on the coming down part. It looks heavy from 1h up to daily.

bulls
Whats happening in EUR/USD should be happening to you!
  • #7,592
  • May 15, 2009 4:02am May 15, 2009 4:02am
Quoting hans356
fxtrader29 just joined the private group a month or so ago and is having fabulous success following Jacko's leads and trade calls. fxtrader29 is following Jacko's method, but he is also taking things a step further and trading aggressively according to Jacko's calls. There is nothing wrong with this. If you have the stomach to do it, then I'm sure many more would be doing exactly the same thing.

I think VERY FEW have done the research that fxtrader29 has done on Jacko and his past performance, and if he has such great faith in Jacko and his ability...
I agree with you. Fxtrader29 has done good trades. Maybe he can outline all of his trades so we can see them and have a view of how he is doing it
  • #7,593
  • May 15, 2009 7:58am May 15, 2009 7:58am
Hi LJ,

what's the issue of someone whishing to tell he's doing well. The only thing I have noted is that he only makes green pips!! fxtrader29 never told about any pips that are became red??
Anyways, its understandable that he prefers to share the good results than the less good. And maybe, he is blessed with the touch of magic!!
I just wish that... I could do the same LOL

Hi fxtrader29,

nice to see you are doing well on your trading and happy about your results, enjoy them!!
Since you are trading aggressively, you might differentiate about trend and countertrend positions. Do you use the same stop loss logic for both types of trades?






Quoting LeveragedJoe
hi fxtrader29,

I am a lurker of this great thread and I strongly believe that this is a valuable no-nonsense method.
However, I find your post above misleading and pointless.

Misleading because you're not trading this method. This method is all about trading with the major trend with a trailing stop as an exit. You're not trading this way.

Pointless because you're just boasting your (unproven) profits, while this thread should be about discussing the method's fine points and providing pieces of technical and/or fundamental analysis in line with...
  • #7,594
  • May 15, 2009 8:17am May 15, 2009 8:17am
For those of you who are using and strictly trading by Jacko's trading service, about how many pips per month profit are you seeing? The information on this thread is amazing and have been lurking here for months, thanks for all your info.
  • #7,595
  • May 15, 2009 9:19am May 15, 2009 9:19am
Quoting aorafx
Hi LJ,

what's the issue of someone whishing to tell he's doing well. The only thing I have noted is that he only makes green pips!! fxtrader29 never told about any pips that are became red??
Anyways, its understandable that he prefers to share the good results than the less good. And maybe, he is blessed with the touch of magic!!
I just wish that... I could do the same LOL
Aorafx,

There are two issues here... the first is that Forex Factory doesn't allow promotion of commercial services... particularly from new members. The quote below is from Forex Factor Rule No 3:

Members with less than 100 posts should refrain from asking about or discussing commercial Forex products, services, or websites. This includes both positive AND negative discussions. A new member discussing or asking for opinions about a commercial Forex venture is the first warning sign of a hidden agenda. Without a posting history, it's hard to determine your credibility, so your post may be mistaken as promotional.

Secondly, discussing how many pips won does not help people who are trying to learn how to use the method outlined in this thread. Especially when the amount won does not follow the plan laid out here. I appreciate that fxtrader29 has achieved those pips using guidance from Jacko but it is guidance given under his personal service.

I'm sorry to keep banging on about this but I wish we could all just get on with the method taught on this thread. It would be a shame to waste the valuable information contained here with trivial discussions of how many pips are here or there…

Regards,

Dan
  • #7,596
  • May 15, 2009 10:14am May 15, 2009 10:14am
Hi Dan,

ok, I think I got the point. The distinction is between who tries to make pips and who want to trade fx. Got it!! Thanks.

The rules are outlined in the first posts. Then my understanding is that your entry points depend on discretion. A good mix is price action, looking at when major news are out etc. The idea is to limit the risk and be selective in your entry points. You might be more aggressive and trade more, this means you are taking more risks by being less selective, but at the same time having more opportunities in a shorter time.

The core of the method is to trend trade, however trends are not always black on white... at times the market is ranging.
To be conservative in the use of your cash, a key is to have the patience to wait for a good set-up. Defined by your criteria (some of them I could have outlined above). When the market is ranging trend trades and countertrend trades are more hard to define... That's when, this is my guess, the "good set-up" is most important. When the market is ranging, these trades could be called swing trades...

That's my 3 cents.

Take care and enjoy your week end


PS. Anything wrong in the text above is my own responsibility, I do not represent any corporation, private person or supranational organization other than myself. In addition, I might change opinion due to mood swings, new information or market volatility.

Quoting DanUK
Aorafx,


I'm sorry to keep banging on about this but I wish we could all just get on with the method taught on this thread. It would be a shame to waste the valuable information contained here with trivial discussions of how many pips are here or there…

Regards,

Dan
  • #7,597
  • May 15, 2009 10:26am May 15, 2009 10:26am
Chart
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  • #7,598
  • May 15, 2009 10:49am May 15, 2009 10:49am
Quoting luSan
My friend, your charts are full of lines...too confusing for me.
I am buying dollars..

Good call atleast for 100 pips
  • #7,599
  • May 15, 2009 11:11am May 15, 2009 11:11am
Quoting hans356
Chart
looking good hans, I agree with the trend change, pro long for me
  • #7,600
  • May 15, 2009 1:03pm May 15, 2009 1:03pm
Big drop right there, making me think twice about the long. Small head and shoulders on the 4h, and a twice failed attempt to break 1.3720.
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