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Jacko's Forex House of Pleasure and Pain

  • #8,361
  • Jun 24, 2009 7:47pm Jun 24, 2009 7:47pm
Quoting mea

THIS WAS THE EXACTELY THE REASON WHY I QUIT, BECAUSE HOW HE DEFINES MENTORING.....LOL
I feel I have to step in here and defend jacko, because i don't understand what you want from him for $700 for a whole year.

He posts his market thoughts and analysis several times daily, he warns us when not to take trades at certain times
He sends a text before and after he makes a trade, followed by an explanation on his blog
He answers all emails personally within 24 hours usually
For 700 bucks I think thats a great deal

what the hell else do you want ? if you cant learn from that I don't know what to tell you then...maybe you're the problem


Andrew
It's NOT GAMBLING when the odds are in your favor
  • #8,362
  • Jun 24, 2009 9:07pm Jun 24, 2009 9:07pm
Quoting User Name
I feel I have to step in here and defend jacko, because i don't understand what you want from him for $700 for a whole year.

He posts his market thoughts and analysis several times daily, he warns us when not to take trades at certain times
He sends a text before and after he makes a trade, followed by an explanation on his blog
He answers all emails personally within 24 hours usually
For 700 bucks I think thats a great deal

what the hell else do you want ? if you cant learn from that I don't know what to tell you then...maybe you're the problem...

  • #8,363
  • Jun 24, 2009 9:59pm Jun 24, 2009 9:59pm
Guys, cool down. This thread will be a garbage this way...
  • #8,364
  • Edited 11:25pm Jun 24, 2009 10:46pm | Edited 11:25pm
I post this because there appears to be some frustration...

EUR/USD is in a sideways trading range, this is the most difficult time for Trend Traders. Once we are trending again the money will flow. Until then losses at this point and time are probably going to out number the wins.

Don't get me wrong, you can make dough in a sideways market, but not with a Trend Following strategy. Ed Seykota said (can't remember exactly, but the gist of it was) if you don't like the losses from a sideways market, don't trade. He is speaking specifically to a trend following method, which the Jacko method is. We just have to be patient until a trend develops and hop on board.

Here is daily chart...
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-06-24_2039.png Size: 72 KB
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #8,365
  • Jun 25, 2009 1:33am Jun 25, 2009 1:33am
With the volatility of the last few days, it's good to take a step back and re-look at your charts.

Looking at daily and 3H we can see that we have been in an uptrend (since around March 4th) and are now in a period of consolidation since around May 26th) with the extremes at 1.3737 and 1.4338 (June 2 and 15 high and lows).

Support and Resistance that have been formed within this consolidation are as per the chart below.

50% of the extremes lies at 1.4037.5 or to the nearest round number 1.4050.

Thus, strictly speaking we should be looking to enter a long position (in the direction of the medium term trend), however I am more adventurous than that and will be looking to enter appropriate small positions near the S&R levels and full positions near the extremes.

http://img1.tinypic.info/files/3lyes5g5k82jpl51dhkg.png (http://img1.tinypic.info/)

http://img1.tinypic.info/files/xics5kngbbdtehs5to8e.png (http://img1.tinypic.info/)
  • #8,366
  • Jun 25, 2009 4:12am Jun 25, 2009 4:12am
I was a little fortunate yesterday.
I ended up leaving my a/h in play, and it duly brought home the bacon.
Difficult month, though.
  • #8,367
  • Jun 25, 2009 6:03am Jun 25, 2009 6:03am
i canceled my A-H yesterday...
  • #8,368
  • Edited 8:54am Jun 25, 2009 8:25am | Edited 8:54am
Quoting LasVahGoose
I post this because there appears to be some frustration...

EUR/USD is in a sideways trading range, this is the most difficult time for Trend Traders....
Hey LasVahGoose,

Couldn't agree more with you on this one. Although I'm still short-biased (in the short term), we seem to be in consol-mode for the time being. Better to calmly wait and let the market show us its real direction.

Cheers,
  • #8,369
  • Jun 25, 2009 12:12pm Jun 25, 2009 12:12pm
http://i40.tinypic.com/acaplu.png

I think sooner or later, she will make up her mind, in fact, last year, it took until around the 15 of July. I'll get in when she gives me a good enough reason to.
  • #8,370
  • Jun 25, 2009 1:28pm Jun 25, 2009 1:28pm
Quoting g5ricky
If you were a member...you would have paid the fee your nerves.

I need people like "james16" and "jacko"!!!!


i must say that I agree 100% with you, that YOU need Jacko, but this does not apply to ME.
I joined F16 for one month which was a great experience lots off INFO lots of videos..webinars , lots of examples etc etc.
can only recommend it, if one does not understand the FF thread, or can't find his way within the FX jungle!

which was the case with me, i did not like to read to this jungle.
You say: If you were a member...you would have paid the fee to be a yearly member.
Me: yes i have paid for one year and after 3 weeks I just ask my money back, which I have to say was not a problem at all, Jacko paid me the 700,00 less wire commission and that was it.
I have tried about 6-7 different methods out there,( now i get about 20 offers a week...lol all have the holy Grail with thousands $ a day or so) but found out I do not have to pay for any education because its all out there **for FREE**
than you have to work you way through all the stuff and start to find what fits to your style of trading, which no one can tell you, because everybody is individually skilled, only people which do not like to get education like to have a signal service which does not work in the long term if you can not judge why this does or doesn't work.

I am not sure yet, but I have found two which I trade at this time and till now I cant complain.

Future will tell, one of this methods is very similar to James, just I found back than i did not really understand what he was talking about, now it became very obvious after I found a educational website (for free) and finally I got a breakthrough (at least this is what I believe)
now I know where to put S/R lines which is pretty important,
in my opinion this is not explained very well at all!
But at the other side this is an induvidual case wher to put them,
as I recall Mb11 likes a lot round # I dont, but I do take those round # in considderation!

Perhaps I just couldn't understand, this can be due the fact because my english sucks and once or twice or even more times I do not understand each detail.

enough said!

Have a good trading and lots of PIP's
  • #8,371
  • Jun 25, 2009 5:39pm Jun 25, 2009 5:39pm
Quoting mea
i must say that I agree 100% with you, that YOU need Jacko, but this does not apply to ME.
I joined F16 for one month which was a great experience lots off INFO lots of videos..webinars , lots of examples etc etc.
can only recommend it, if one does not understand the FF thread, or can't find his way within the FX jungle!

which was the case with me, i did not like to read to this jungle.
You say: If you were a member...you would have paid the fee to be a yearly member.
Me: yes i have paid for one year and after 3 weeks I just ask my money back,...
Good luck to you Mea. I know that several have come on here defending Jacko, but if the trading style does not fit your style then why continue. I am a member of Jacko's second group and have learned so much, especially patience, but his style fits my personality and for now I am trading his way. I agree with you that there is a wealth of knowledge for FREE out there, especially right here on Forex Factory, you just have to mine the gold out of it.
  • #8,372
  • Jun 26, 2009 4:11am Jun 26, 2009 4:11am
Well done to anyone who caught this bounce (image attached). I missed it! Saw it forming, wanted to wait till bar close to be sure, but then got too caught up with work to enter. No worries though, will be another good trade just round the corner!
Attached Image
  • #8,373
  • Jun 26, 2009 4:54am Jun 26, 2009 4:54am
Quoting jcalow
Well done to anyone who caught this bounce (image attached). I missed it! Saw it forming, wanted to wait till bar close to be sure, but then got too caught up with work to enter. No worries though, will be another good trade just round the corner!
Hi Jcalow,

I was lucky enough to get in long at 1.3950 and the trade is going well so far. We're pushing up towards 1.4100 again - it will be interesting to see if we can break past it this time?

I take it you are still looking for long positions too?

Regards,

Dan
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  • #8,374
  • Jun 26, 2009 6:21am Jun 26, 2009 6:21am
The threads name should be changed in memory.
Economists have forecast 9 out of the last 5 recessions
  • #8,375
  • Jun 26, 2009 7:06am Jun 26, 2009 7:06am
Quoting 1522dad
Good luck to you Mea. I know that several have come on here defending Jacko, but if the trading style does not fit your style then why continue. I am a member of Jacko's second group and have learned so much, especially patience, but his style fits my personality and for now I am trading his way. I agree with you that there is a wealth of knowledge for FREE out there, especially right here on Forex Factory, you just have to mine the gold out of it.


  • #8,376
  • Jun 26, 2009 9:58am Jun 26, 2009 9:58am
I'm confused about result of latest AH trade.

In the past it was determined that all AH trade stop loss is 50 pips.

Now, if AH soldier was resurrected at .4020 or .4038 and its only 50 pip stop loss how the trade can be still in play?

or the stop loss has been changed to 100 pips?
  • #8,377
  • Jun 26, 2009 10:31am Jun 26, 2009 10:31am
Hello all. I'm a member of Jacko's 2nd group...

Monday will be intersting...
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD 6_26_2009 (240 Min).jpg Size: 71 KB
  • #8,378
  • Jun 26, 2009 10:42am Jun 26, 2009 10:42am
Quoting Ninja
Hello all. I'm a member of Jacko's 2nd group...

Monday will be intersting...
Hey Ninja, correct me if I'm wrong - whats the customary stop loss on AH trade? 50 or 100 pips?
  • #8,379
  • Jun 26, 2009 11:31am Jun 26, 2009 11:31am
Quoting msenocak
Hello mea (or should I say "Guten Tag"?),

I am not quite sure what you are really asking. If you were a member of Jacko I'm sure you know his personal email address. Why don't you ask him yourself how he is doing, instead of asking this groups' members? I'm sure Jacko will answer this kind of questions much more accurately than anybody in this group, and there will be no more "I hear he is ..." (fill in the blanks yourself).

Just wondering.
Hi all,

In answer to the above question, I read the various threads on the Forum (not just this one, though it is my favourite ..LOL) on a regular basis.

However I prefer to see the members of the group using their expanded knowledge , experience and skills to answer the various questions raised here.
I don't have a ego problem and have no interest in dominating this thread, and I get great pleasure seeing members answer the various questions raised here by novice traders in a calm, intelligent and respectful manner.

Having said that, we should also appreciate the great work done here by the moderators. Forex Factory is easily the biggest and best Forex forum on the internet.


.
Jacko
  • #8,380
  • Jun 26, 2009 5:23pm Jun 26, 2009 5:23pm
Hey Jacko, nice to see you stopping by..

May I ask you why do you currently trading against the trend and keeping on selling euro??

Last time it happened you asked us to let you know and "pull your head out of gutter"

It seems like last 2 trades are counter trend trades..

Why do u think euro should fall considered billions of US dollars being printed??
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