Jacko's Forex House of Pleasure and Pain | Page 416 | Forex Factory

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Jacko's Forex House of Pleasure and Pain

  • #8,301
  • Jun 21, 2009 10:15am Jun 21, 2009 10:15am
Quoting Paul88
hello everyone here

anyone know which ECN broker jacko using??
he uses 4 of them, but that info is private, he doesn't want to endorse any one specific broker
It's NOT GAMBLING when the odds are in your favor
  • #8,302
  • Jun 21, 2009 3:23pm Jun 21, 2009 3:23pm
Quoting Coke Can
Im having an issue figuring out how Jacko is figuring out the trend changes. I guess Ill have to join his group someday to see how. It looks like the monthly and the weekly are up in my eyes and we just had a huge retrace or correction. But I can't figure out how everyone knew to short it during the correction and when to start long again. Im sorry for this question but I genuinally don't understand.

Was it technical? or was it more fundemental?
Ditto,

I would also be very interested to learn how Jacko trades the current PA.

EU has been stuck in a range for the past few weeks between 38/42 with no real trend.

Jacko - are you in a trade or are you waiting for the trend to resume or reverse??
  • #8,303
  • Jun 21, 2009 3:32pm Jun 21, 2009 3:32pm
Quoting daringdave
You are doing good trading. What is your trading account at now?
And thanks to Jacko for your good work here.
My account is very healthy and is continuing to grow. I missed including this post http://www.forexfactory.com/showthread.php?p=2802516#post2802516
I have some more trades that have been good that I have been too busy to post here.
But I don't want to take credit for the trades. Jacko told us on wed and thurs that the Euro would go to 1.4000. That was a terrific call. Real crystal ball stuff. I am trading my own trades but Jacko is giving out the turning points. I am understanding his strategies and patterns more now and I can sometimes pick the same turning points before he gives them. But jacko gets the kudos for terrific calls on the turns. I will get there but I am terrificly thankful for the opportunity to be mentored by a successful trader. It can only guess how much time and money I might have lost trying to work it all out by myself.
  • #8,304
  • Jun 21, 2009 3:45pm Jun 21, 2009 3:45pm
Quoting stewrigh
Ditto,

I would also be very interested to learn how Jacko trades the current PA.

EU has been stuck in a range for the past few weeks between 38/42 with no real trend.

Jacko - are you in a trade or are you waiting for the trend to resume or reverse??
Jacko has slowed his own trading down because of the ranging but he gives daily calls on the shorter term for us <adventurous> traders who want to trade more often than him. His call on wed and thurs that the market would hit 1.4000 and drop back down was real crystal ball stuff.

Jacko is not in a trade at the moment. None of us are. He recommends that we close all trades on friday so that we are not left exposed to a rogue event over the weekend, like North Korea doing something stupid.
  • #8,305
  • Jun 21, 2009 4:43pm Jun 21, 2009 4:43pm
Quoting stewrigh
Ditto,

I would also be very interested to learn how Jacko trades the current PA.

EU has been stuck in a range for the past few weeks between 38/42 with no real trend.

Jacko - are you in a trade or are you waiting for the trend to resume or reverse??
I apologize if this sounds abrasive but why don't you join the group and find out?
  • #8,306
  • Jun 21, 2009 7:20pm Jun 21, 2009 7:20pm
Come on now thatis like Iran keeps saying that the west is creating this rebellion in their country. North Korea is going to keep on doing stupid $h!t until they get rid of the mad man that is repressing them. Like all the guys in monty pythons holy grail, help Help Im being repressed, I say we get the knights that say ni to help all

like North Korea doing something stupid.[/quote]
  • #8,307
  • Jun 21, 2009 10:48pm Jun 21, 2009 10:48pm
Quoting RickyRudy
I apologize if this sounds abrasive but why don't you join the group and find out?

Is that where he makes his calls?
  • #8,308
  • Jun 21, 2009 11:02pm Jun 21, 2009 11:02pm
Quoting stewrigh
Is that where he makes his calls?
Yes, that's where he makes his calls. Even better are his thoughts on the market. He'll not only make trade calls, he'll tell you where he thinks the market is headed and why. That's even more valuable than the actual trade signals. That's what actually makes you a better trader.

I must add that he answers EVERY e-mail from people in his group. You can ask him ANYTHING about trading. That's an extremely valuable resource.

While I make those statements, joining his group is completely up to you. You may join and end up not feeling the same way I do. My answer is based on the specific question you asked (how he sees the market now, etc).
  • #8,309
  • Jun 21, 2009 11:32pm Jun 21, 2009 11:32pm
Further to previous charts, looking at S&R levels and trendlines etc:

Weekly: S-1.3737 R- 1.4362
Daily: R-1.3990 (fallin trendline) S-1.3737
4H: S-1.3804, 1.3737 R-1.3990 (falling trendline)

The daily S&R are the most important figures for me and with the price around 1.3860 from a R/R perspective a trade at present (sell) does not make sense especially with German IFO figures out at 9am (GMT). I'm on the sidelines waiting for these figures and hopefully a rise to higher levels to make a sell trade more attractive.

Overall the price is within a relatively tight range between a falling trendline and horizontal support (and fib confluence), bias for most people is down, but we are in a potential breakout territory at some point this week, which should see some a fast moving price.
  • #8,310
  • Jun 21, 2009 11:35pm Jun 21, 2009 11:35pm
Quoting RickyRudy
Yes, that's where he makes his calls....
Couldn't agree more! His results are excellet, but the point of joining his group is not to copy trades as he is not a trade signal service, but to learn more about his methods of trading and how to look at the market. His insights into price movements and macro analysis are a delight to read. You can only benefit from reading and listening to someone with so much epxerience and an impressive track record of trading.
  • #8,311
  • Jun 21, 2009 11:42pm Jun 21, 2009 11:42pm
Quoting lovejoy80
Couldn't agree more! His results are excellet, but the point of joining his group is not to copy trades as he is not a trade signal service, but to learn more about his methods of trading and how to look at the market. His insights into price movements and macro analysis are a delight to read. You can only benefit from reading and listening to someone with so much epxerience and an impressive track record of trading.

Ok 'm interested - how do I join.
  • #8,312
  • Jun 21, 2009 11:59pm Jun 21, 2009 11:59pm
Quoting stewrigh
Ok 'm interested - how do I join.
Hi stewrigh,

http://waynejacksonfx.blogspot.com/
  • #8,313
  • Jun 22, 2009 12:09am Jun 22, 2009 12:09am
Thanks all
  • #8,314
  • Jun 22, 2009 1:17am Jun 22, 2009 1:17am
Quoting fxtrader29
I am trading my own trades but Jacko is giving out the turning points. I am understanding his strategies and patterns more now and I can sometimes pick the same turning points before he gives them. But jacko gets the kudos for terrific calls on the turns.
So any hint on how to make this predictions?
I think being able to call market turning points beforehand is somewhat useful when trading

LJ
1st step stop loss in the green 2nd step play with the free money
  • #8,315
  • Jun 22, 2009 5:15am Jun 22, 2009 5:15am
Quoting fxtrader29
Jacko has slowed his own trading down because of the ranging but he gives daily calls on the shorter term for us <adventurous> traders who want to trade more often than him. His call on wed and thurs that the market would hit 1.4000 and drop back down was real crystal ball stuff.

Jacko is not in a trade at the moment. None of us are. He recommends that we close all trades on friday so that we are not left exposed to a rogue event over the weekend, like North Korea doing something stupid.

fxtrader great going!

Well just out of curiosity could you tell us what account size you started with when you joined Jacko's group?
  • #8,316
  • Jun 22, 2009 4:22pm Jun 22, 2009 4:22pm
Quoting fugly
fxtrader great going!

Well just out of curiosity could you tell us what account size you started with when you joined Jacko's group?
Shit, why don't you ask me a personal question next time
Started with $40K. $30K in a trading account. $10K in a cash account for quick transfer if I needed it.
I am deep in green.
  • #8,317
  • Jun 22, 2009 5:21pm Jun 22, 2009 5:21pm
Quoting fxtrader29
Started with $40K. $30K in a trading account. $10K in a cash account for quick transfer if I needed it.
I am deep in green.
Kid's gonna be a millionaire by the end of the year.
  • #8,318
  • Jun 22, 2009 10:22pm Jun 22, 2009 10:22pm
I'm focussing on the daily chart at the moment.

Falling trendline at 1.3962 and the two S levels as indicated on chart which are also fib conflunces (not 50% though). Waiting for a breakout or reaction to the S/R levels...ideal set up would be a rise to falling trendline (prob on back of good PMI data this morning) and then a fall back down.

Exisiting House sales data released in US session.

http://i41.tinypic.com/15ogz05.jpg
  • #8,319
  • Jun 22, 2009 10:28pm Jun 22, 2009 10:28pm
1.3750 would be a nice place to looks for longs imo...
Grabbing the bull by the horns!
  • #8,320
  • Jun 22, 2009 10:48pm Jun 22, 2009 10:48pm
Quoting whitegoodman
1.3750 would be a nice place to looks for longs imo...
Yes it would and 1.3950 would be a good place to go short. However, have to be wary of breakouts now and with the falling trendline I would rather entering shorts than longs as I see a long as a counter-trend trade at the moment as the short term price direction is down (though the longer term is up) and I see the recent down move as more than just a price retracement..but I think the breakout will lead to a bigger move and will set the new direction / confirm the direction for the shortterm...so I'm on the sidelines for the moment.

Notice the falling trendline meets the upwards bigger trendline at approx. 1.3600 - a 50% fib level, now that would a great place to go long.
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