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Jacko's Forex House of Pleasure and Pain

  • #7,821
  • Jun 1, 2009 11:36am Jun 1, 2009 11:36am
Quoting Low
Was my post considered critical?

I will be glad to delete it if so.
If your refering to my post, no it wasnt aimed at you at all. I was referring to the members that come on here and question or put down the results of this method. Jackos been doing this too long with too good of results, and been kind enuff to share all this with us, to have people come on here and disrespect the thread.

They know who they are,
bulls
Whats happening in EUR/USD should be happening to you!
  • #7,822
  • Jun 1, 2009 11:48am Jun 1, 2009 11:48am
http://i40.tinypic.com/fcr04j.png
  • #7,823
  • Jun 1, 2009 11:48am Jun 1, 2009 11:48am
Just curious as to how many people are currently in Jacko's private group forum?
  • #7,824
  • Jun 1, 2009 1:09pm Jun 1, 2009 1:09pm
I don't usually post fundamental data, but thought this was an interesting article from Bloomberg on the Euro's strength the past few months.

http://www.bloomberg.com/apps/news?pid=20601083&sid=axQiEb1Mgpuc&refer=currency

Also note that the large FX players are urging people to SELL the Euro. I wonder if Deutsche Bank and Barclays (collectively) have the ability to pull the weight themselves to bring the Euro down a bit.
  • #7,825
  • Jun 1, 2009 1:11pm Jun 1, 2009 1:11pm
http://i43.tinypic.com/2lt62x2.png
  • #7,826
  • Jun 1, 2009 2:02pm Jun 1, 2009 2:02pm
Quoting hans356
I don't usually post fundamental data, but thought this was an interesting article from Bloomberg on the Euro's strength the past few months.

http://www.bloomberg.com/apps/news?pid=20601083&sid=axQiEb1Mgpuc&refer=currency

Also note that the large FX players are urging people to SELL the Euro. I wonder if Deutsche Bank and Barclays (collectively) have the ability to pull the weight themselves to bring the Euro down a bit.

From the latest COT report the big boys seem to want to sell the EURO and the small investors are still long.

Also looking around the internet it seems there may be a deliberate policy to keep the US$ low to drive exports from the US and keep jobs. Also Russia/China/Middle East are moving out of dollars (not completely) but it must be driving this rise in the Euro as they have all the big bucks.

So I guess we have a battle with Europe against the US, but you also have Russia, Middle East, China etc also wanting out.

Should be fun
  • #7,827
  • Jun 1, 2009 4:59pm Jun 1, 2009 4:59pm
Quoting pchees
From the latest COT report the big boys seem to want to sell the EURO and the small investors are still long.

Also looking around the internet it seems there may be a deliberate policy to keep the US$ low to drive exports from the US and keep jobs. Also Russia/China/Middle East are moving out of dollars (not completely) but it must be driving this rise in the Euro as they have all the big bucks.

So I guess we have a battle with Europe against the US, but you also have Russia, Middle East, China etc also wanting out.

Should be fun
Think you may have misunderstood the COT report:

1,107,547 Large Speculators Long
4,945,448 Commercials Short

Large Speculators are:
Multi-Million $ traders, Hedge Funds, Large Trading Institutions - BIG BOYS

Commercials are:
Large Institutions, Funds, Banks buying or holding EUR for Clients and are "hedging" their holdings

Commercials are almost always "opposite" against the currency trend and Big Boys. They are not actively trading currency.

Hope this clarifies it.

Strat's Long Term Stress Free Trading
http://www.forexfactory.com/showthread.php?t=155459
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,828
  • Jun 1, 2009 9:40pm Jun 1, 2009 9:40pm
Hi all,

Am thinking about the following entries to go long EUR/USD:

50% of the recent up move is 1.4000

What about an entry at 1.4100 since that's the closest round number? Would this make sense? Then trail it with a trailing stop of 100. One concern with this entry would be that the price could retrace to 1.40 therefore giving a loss and then go back up...maybe re-enter with Jacko's AH strategy?

Any opinions are appreciated.

Rubin.
  • #7,829
  • Jun 1, 2009 9:46pm Jun 1, 2009 9:46pm
Quoting gorubin
Hi all,

Am thinking about the following entries to go long EUR/USD:

50% of the recent up move is 1.4000

What about an entry at 1.4100 since that's the closest round number? Would this make sense? Then trail it with a trailing stop of 100. One concern with this entry would be that the price could retrace to 1.40 therefore giving a loss and then go back up...maybe re-enter with Jacko's AH strategy?

Any opinions are appreciated.

Rubin.
im waiting for some PA between 1.40 and 1.41, but yes 1.40 would be better ideally
Grabbing the bull by the horns!
  • #7,830
  • Jun 2, 2009 3:10am Jun 2, 2009 3:10am
Quoting gorubin
Hi all,

Am thinking about the following entries to go long EUR/USD:

50% of the recent up move is 1.4000

What about an entry at 1.4100 since that's the closest round number? Would this make sense? Then trail it with a trailing stop of 100. One concern with this entry would be that the price could retrace to 1.40 therefore giving a loss and then go back up...maybe re-enter with Jacko's AH strategy?

Any opinions are appreciated.

Rubin.
what's wrong with 1.4000 as a round number?

and that is exactly what the AH was created for.
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #7,831
  • Jun 2, 2009 11:16am Jun 2, 2009 11:16am
Quoting coscorp
what's wrong with 1.4000 as a round number?

and that is exactly what the AH was created for.

Nice. History has proven you right.
  • #7,832
  • Jun 2, 2009 11:26am Jun 2, 2009 11:26am
Nothing is wrong with 1.40...But since that seems far away right now I thought we can use 1.41 or maybe even 1.42 now as entry points?

Am I wrong in using such numbers and would Jacko use only the round numbers that are in proximity of the 50% retracement?

Thanks,
Rubin.

Quoting coscorp
what's wrong with 1.4000 as a round number?

and that is exactly what the AH was created for.
  • #7,833
  • Jun 2, 2009 12:43pm Jun 2, 2009 12:43pm
I'm going out on a limb again and say that we might not see a significant retracement until the 1.4380 to 1.4410 area. By then the 50% retracement target will be in the 1.4100 to 1.4125 area. At least start paying attention if this thing hits 1.4380.

DISCLAIMER: These are solely my thoughts and I'm not an expert trader. Trade at your own risk.
  • #7,834
  • Jun 2, 2009 2:10pm Jun 2, 2009 2:10pm
I misread coscorps post as 141.00, and thought he had gotten on board.
  • #7,835
  • Jun 2, 2009 2:59pm Jun 2, 2009 2:59pm
Have been enjoying this thread for a few days now, since the nasty thread from this past weekend drew my attention to Jacko's stuff (don't people have better ways to spend their non-trading time than tearing down people?). I like many things about the approach and hope you all find great success in it. Will check in on you from time to time.

GEfx
  • #7,836
  • Jun 2, 2009 3:11pm Jun 2, 2009 3:11pm
Low - I was actually eyeing that level but decided to wait for a larger retrace to the .50 fib level that was valid at the time.

amen.
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #7,837
  • Jun 2, 2009 4:04pm Jun 2, 2009 4:04pm
My current plan unless market dynamics change drastically...

Edit; Sorry about the squiggly line on my chart Jacko, old habit...
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-06-02_1551.png Size: 89 KB
  • #7,838
  • Jun 2, 2009 4:07pm Jun 2, 2009 4:07pm
Quoting deepsouth
My current plan unless market dynamics change drastically...
Hi deepsouth,

There is a smaller swing within that one, if you draw that first, then if price breaks through pull it to the one you have,
Economists have forecast 9 out of the last 5 recessions
  • #7,839
  • Jun 2, 2009 4:12pm Jun 2, 2009 4:12pm
Quote
There is a smaller swing within that one, if you draw that first, then if price breaks through pull it to the one you have,

markmm,
Being new to fibs I don't understand, could you post a chart that may help clarify?

Tks,
DS
  • #7,840
  • Jun 2, 2009 4:51pm Jun 2, 2009 4:51pm
sorry guys for bashing in. I am pretty new to forex trading but have read this thread several times. I am trying to demo trade this wonderful trading method. The problem I have is that I seem to miss a lot of entries because the price pulls back up before the 50% retracement is hit. Do you guys have this same issue? Ftw I draw lines on wk/dl/4h

Maybe I am to eager to trade. I would like to become a full time trader (although I have a good job with an asset managent company now, but I have decided to chase my dream).

Is it worthwile to take the private forum subscription with Jacko or should you be fine to demo re-demo, re-read etc (before I start fooilng around with indicators)?

Many thanks
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