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Jacko's Forex House of Pleasure and Pain

  • #8,461
  • Jul 9, 2009 2:45am Jul 9, 2009 2:45am
Quoting msenocak
I think you're right, User Name! I also think he has more than one crystal ball. One with the word "Experience" written on it. The other one with the word "Patience". I guess you have to have the first one first before getting the second one.

As for me, since I don't have any of these crystal balls (I have other ones ), I'll go out today and buy myself a pair of handcuffs and will not touch my trade until I get another SMS from Wayne to exit.

Good luck to all of you!
His experience and patience is shown in everything he says and does.
  • #8,462
  • Jul 9, 2009 8:48pm Jul 9, 2009 8:48pm
Quoting zenkh
More than 2 years since this thread was started and still going. I've spent endless time lurking around FF and all the other forums looking for the holy grail, and I have to say that this by far has been the 'cleanest' and the most focused thread ever. Very positive vibes.

Jacko, your 'simplicity is the ultimate sophistication' way of trading has really enlightened me. I am beginning to see the light at the end of the tunnel and also beginning to see and understand the beast a lot better as I start stripping layers and layers of indicators off...
He is a terrific trader, trainer and mentor.
I am busier than a one armed wallpaperer with the end of the financial tax year here, but I am still stacking up the green. Another 125 pips profits early this week and in another trade now.
  • #8,463
  • Jul 10, 2009 12:58am Jul 10, 2009 12:58am
here's what REALLY went on at the G8 summit........
Attached Image (click to enlarge)
Click to Enlarge Name: G8 Meeting.jpg Size: 262 KB
  • #8,464
  • Jul 10, 2009 3:23am Jul 10, 2009 3:23am
I'm covering intraday with the trend, trading on 1 and 4hr, have a look, totally complements this style.

http://www.forexfactory.com/showthread.php?t=181739
Be and do the opposite to what people expect.
  • #8,465
  • Jul 10, 2009 3:44pm Jul 10, 2009 3:44pm
Hey guys

Leave your sentiment here! (short term/long term)

http://www.forexfactory.com/sentiment.php?

this is a very good ff feature!
  • #8,466
  • Jul 11, 2009 5:28pm Jul 11, 2009 5:28pm
Quoting fxtrader29
He is a terrific trader, trainer and mentor.
I am busier than a one armed wallpaperer with the end of the financial tax year here, but I am still stacking up the green. Another 125 pips profits early this week and in another trade now.
I was too busy to do my own trades but stacked up an extra 65 pips on Friday from Jacko's call. A lazy way to stack up 190 pips in a week.
  • #8,467
  • Jul 11, 2009 5:44pm Jul 11, 2009 5:44pm
Yes you would be happier if you used COT report instead lol. Anyways it says 61 percent are short, so guess that is a signal for me to be long

Quoting derekz
Hey guys

Leave your sentiment here! (short term/long term)

http://www.forexfactory.com/sentiment.php?

this is a very good ff feature!
Its all in the mind.
  • #8,468
  • Jul 11, 2009 9:30pm Jul 11, 2009 9:30pm
I am a new member of Jacko's group and I should say, I am NOT sorry to have joined his group.
But I have a problem, I offer a solution, and ask for other members' input.
Jacko is NOT a signal service (we know that) and his SMSs are NOT recommendations to trade (we know that as well).
These are the legalities that I must say before I tell you my problem.
This is the problem: Time is of extreme essence, and for the life of me I cannot act upon his SMSs in a timely manner. I believe I am not the only one with this problem. Some of us are sleeping, some do not have cell phone handy, some are not near a computer, some are in a conference, some are driving or flying, some are in a bathroom and some are schmusing. Am I wrong to say that only 25% or less of the members are able to react to the SMSs in a timely manner? Why waste >75% of trading opportunities?
Because of legalities, Jacko is not going to help us (rightly so), but can we, as members of the group, help ourselves?
This is what I recommend: A group member (a volunteer with highest availability) creates a demo account and gives read only access to the rest of the members. Upon receipt of a SMS, that member enters the trade in the demo account. Other members have the demo account and their live account open on their desktop. With a script that I provide to the members free of charge, the trade of the demo account gets copied to the live account automatically. The lot size is determined by member at the time the script is dropped on the chart. Everything is automatic, the member does not need to be on guard nor at his computer, and can be stopped or overwritten if desired. This all is doable only if Jacko does not object to that.
Notes:
1- It goes without saying that the people who receive the read-only password to the account are the active group members who have paid their membership fee to Jacko.
2- if read-only password on a demo account is not possible, a micro account can be opened with a min. fund.
It is going to make money we suppose, why worry?
3- The membership fee of the volunteer can be compensated by other members as a token of appreciation. I would gladly pay my share which is worth every Penny.
Your thoughts?
Bernard
  • #8,469
  • Jul 12, 2009 12:49am Jul 12, 2009 12:49am
Most of the time u dont need to wait for sms from Jacko and you can place an order before you leave to bathroom etc..
  • #8,470
  • Jul 12, 2009 10:38am Jul 12, 2009 10:38am
Quoting Bernard
I am a new member of Jacko's group and I should say, I am NOT sorry to have joined his group.
But I have a problem, I offer a solution, and ask for other members' input.
Jacko is NOT a signal service (we know that) and his SMSs are NOT recommendations to trade (we know that as well).
These are the legalities that I must say before I tell you my problem.
This is the problem: Time is of extreme essence, and for the life of me I cannot act upon his SMSs in a timely manner. I believe I...

Bernard

So even though Jacko has made it clear he is not a signal service, you want to make it a signal service anyways, and you are going to pay someone to do it for you. You are very clear that you know you are breaking the rules. What a guy!!! Have you run this by Jacko, it is his signal??? This is so out of bounds, if I were Jacko I would send a refund. First rule, this is not a signal service, we are here to learn to trade.
Oh by the way, Jacko already does this for you if you want.. I am not sure if I can ID it on the forum, I am the kind of guy who trys to respect the rules, ask Jacko.


generalz
  • #8,471
  • Jul 12, 2009 12:50pm Jul 12, 2009 12:50pm
Bernard, this is in response to your proposal.

I am a new member of Jacko's group and I should say, I am NOT sorry to have joined his group.
But I have a problem, I offer a solution, and ask for other members' input.

1. Jacko is NOT a signal service (we know that) and his SMSs are NOT recommendations to trade (we know that as well).
Ans: Yes, you're correct. Don't try to make it one.

This is the problem: Time is of extreme essence, and for the life of me I cannot act upon his SMSs in a timely manner. I believe I am not the only one with this problem.

2. Some of us are sleeping,
Ans: You could 1), Sleep with your cell phone by your side, 2) Set alerts using MT4, another platform or with www.alertfx.com as price reaches your anticipated target for entry.

3. some do not have cell phone handy,
Ans: If you have enough money to trade and enough to pay into Jacko's group and don't have a cell phone handy you are doing yourself a disservice. Based on your post it is clear you are using MT4. My suggestion would be to get a cell phone that is capable of running MT4 mobile and get their data plan. Have that cell phone with you at ALL TIMES, no excuses. If you're serious about trading you'll find a way to make this happen.

4. some are not near a computer,
Ans: See my response to #3 above. Alternatively you can set pending orders on your computer. If you take the time to learn Jacko's system and read his blog updates, you can often times anticipate where he is going to make his entries way before he executes his trades.

5. some are in a conference,
Ans: See my response to #3 above. Alternatively you can set pending orders on your computer. If you take the time to learn Jacko's system and read his blog updates, you can often times anticipate where he is going to make his entries way before he executes his trades.

6. some are driving or flying,
Ans: For driving, see my response to #3 above. Alternatively you can set pending orders on your computer. If you take the time to learn Jacko's system and read his blog updates, you can often times anticipate where he is going to make his entries way before he executes his trades. Specific to flying, you can not reasonably expect to squeeze every single pip out of the market. You are going to miss some trades. That's just the way it is. Besides, I've been able to execute winning trades while driving (pull over to the side of the road) and while traveling via plane (even documented in this thread).

7. some are in a bathroom and some are schmusing.
Ans: See my response to #3, #5, and #6 above.

8. Am I wrong to say that only 25% or less of the members are able to react to the SMSs in a timely manner? Why waste >75% of trading opportunities?
Ans: I've been a member since the middle of May, 2009 and have NEVER missed a trading opportunity.

9. This is what I recommend: A group member (a volunteer with highest availability) creates a demo account and gives read only access to the rest of the members. Upon receipt of a SMS, that member enters the trade in the demo account.
Ans: Ok, if you're so inconvenienced by trading why do you think you can depend on some unknown individual? Won't they be inconvenienced as well. After all, you alluded to 75% of traders being inconvenienced. With this solution you've now expanded your dependencies. Not only have further cemented your dependency on Jacko, you're now dependent on this unknown person. He/she must make sure they don't miss a single trade, correctly input the entries at the correct levels, etc. How do know they'll stay true to the responsibilty you've placed on them? Quit trying to get someone else to do your work for you.

To sum things up, the biggest effect of your suggestion is to ensure reliance on Jacko and to hinder your learning. You need to get to the point where you can evaluate Jacko's thoughts and be able to analyze it within the context of your own thoughts then make a decision as to whether it is a good trade. If you don't understand why he is making a trade, ask him questions via e-mail. If after his response you still don't understand, ask more questions or reword your question, or even go back and study his method/blogs. Don't forget that Jacko is a mere mortal human being. He is sometimes wwwrooong. I am younger than him and hope to outlive him (god forbid something was to happen to him or I). Stop treating him like he is the Greek God of Forex and start learning to trade.
  • #8,472
  • Jul 12, 2009 12:58pm Jul 12, 2009 12:58pm
Hey Bernard, I am with you completely.

Jacko is running a fund, so actually he is allowed to give advise I presume. It doesn't seem like it is a legal issue at all since there are countless signal providers out there...just take a look at c2, RAS, etc.

I have gone through lots of Jacko's posts on the private blog and I have to say that his method is mostly discretionary. The stop loss is not always trailing (although most of the time it is). The entries are discretionary, the exists are discretionary (no targets). Sometimes he uses anti-hedge, sometimes he doesn't.

I am sure it will take me quite a while to learn to trade like Jacko from feel and in the mean time I want to eat!

We don't need many people doing this. We can all have allocated times of the day we should serve. We will change the password frequently so only members of Jacko's thread can access the trades.

Another solution to all this is if Jacko simply uses RentASignal or collective2 so that when he takes a trade the trade is sent to everyone that is subscribed and they can have it auto-execute with their broker. I am in California so currently I have to get up at 2 - 4 - 6 am every day to try and stay in the loop as to what Jacko is thinking. I am starting to go crazy...

Bernard, please allow PMs here and PM me so we can talk further about this.


Quoting Bernard
I am a new member of Jacko's group and I should say, I am NOT sorry to have joined his group.
But I have a problem, I offer a solution, and ask for other members' input.
Jacko is NOT a signal service (we know that) and his SMSs are NOT recommendations to trade (we know that as well).
These are the legalities that I must say before I tell you my problem.
This is the problem: Time is of extreme essence, and for the life of me I cannot act upon his SMSs in a timely manner. I believe I...
  • #8,473
  • Jul 12, 2009 2:18pm Jul 12, 2009 2:18pm
Quoting jeta
Hey Bernard, I am with you completely.

Jacko is running a fund, so actually he is allowed to give advise I presume. It doesn't seem like it is a legal issue at all since there are countless signal providers out there...just take a look at c2, RAS, etc.

I am sure it will take me quite a while to learn to trade like Jacko from feel and in the mean time I want to eat!
Hi Jeta,
I live in Las Vegas and we have the same time zone. Members in Far East or Australia do not feel the pain that we do. Especially those of us who have a small apartments with wife and small children suffer even more because the SMS wakes everbody up.
I sure hope Jacko works with us: besides making some money, keep our family life also intact.

I believe I have allowed PMs in my profile already.
Regards,
  • #8,474
  • Jul 12, 2009 3:11pm Jul 12, 2009 3:11pm
Quoting RickyRudy
Bernard, this is in response to your proposal.

To sum things up, the biggest effect of your suggestion is to ensure reliance on Jacko and to hinder your learning....
Mr. Rudy Rick,
You have been a member of the group for not even a month, but still you feel confident to give expert advices to a system that has taken years to evolve?
Jeta has been a member of the group for over a year and says "I am sure it will take me quite a while to learn to trade like Jacko..".
Have you read the whole thread? Do you understand the system?
Do you know that setting pending orders does not work because the entry price can change in the last minute, as it did in the latest trade?
The goal was short at 1.400 and we entered 10 pips earlier.

You have NEVER missed a trading opportunity, you said.
I am very sorry for you Rudy. This tells me that you do not have a life. Those who have a life (family, wife, children, house, parties, work, hobbies, golf,...) do miss trading opportunities.
Even if you do not miss a trading opportinity, even if you make tons of money by setting pending orders or pulling to the side of the road to enter a trade, what are you going to spend the money on? You do not have a life anyway.
Get a life first.
This advice that I gave you is worth much more than the trading advice that Jacko gives you, and I gave it to you for free, if you understand it.

If I have to make a choice between missing a trade and disturbing my wife's sleep, I would definitely opt to miss the trade.

Bernard
  • #8,475
  • Jul 12, 2009 3:28pm Jul 12, 2009 3:28pm
Quoting Bernard
Mr. Rudy Rick,
You have been a member of the group for not even a month, but still you feel confident to give expert advices to a system that has taken years to evolve?
Jeta has been a member of the group for over a year and says "I am sure it will take me quite a while to learn to trade like Jacko..".
Have you read the whole thread? Do you understand the system?
Do you know that setting pending orders does not work because the entry price can change in the last minute, as it did in the latest trade?
The goal was short at 1.400 and we entered...
Who said I haven't been a member for a month? I've been a member since mid-may. That's over a month, albeit not a long time. What I've done is gather tools that will help my trading. And I agree Pending Orders are not ideal, just a suggestion. Even Jacko uses pending order whenever necessary. I only use them whenever all other options have been exhausted. And yes, I've obviously read the rules, this thread and the blogs. I'm gaining confidence that I've learned how to implement this method and think for myself as evidenced by my success so far. I've been trading this pair along with USDJPY with reasonably good success. I'm completely on my own with USDJPY and have even done better trading that pair than EURUSD. I'm not depending on someone to hold my hand and spoon feed me every step of the way.

Anyway, good luck with what you're doing.
  • #8,476
  • Jul 12, 2009 3:37pm Jul 12, 2009 3:37pm
Quoting generalz
Bernard

Oh by the way, Jacko already does this for you if you want.. I am not sure if I can ID it on the forum, I am the kind of guy who trys to respect the rules, ask Jacko.

generalz
You respect the rules.
I respect the rules.
You accept it as it is, I say there is room for improvement.
This is our difference.

Besides, as I mentioned in the original post, it is totally at Jacko's discretion to take it or leave it. It is purely a suggestion.

I am surprised that you live in USA without US mentality and desire to improve.

Regards,
Bernard
  • #8,477
  • Jul 12, 2009 3:39pm Jul 12, 2009 3:39pm
LIKE THIS ONE ..we are all continuously striving to better our lots, are not we, sort of 6 sigma stuff

Quoting Bernard
You respect the rules.

I am surprised that you live in USA without US mentality and desire to improve.

Regards,
Bernard
Its all in the mind.
  • #8,478
  • Jul 12, 2009 4:15pm Jul 12, 2009 4:15pm
Quoting Bernard
I am a new member of Jacko's group and I should say, I am NOT sorry to have joined his group.
But I have a problem, I offer a solution, and ask for other members' input.
...
Bernard
Bernard,

I can see the merits of your solution: For some of us, it will make it more possible to use Jacko's SMSs, even if we are hindered by some of our lives' responsibilities. It's a very productive thought, and as such it has to be acknowledged, no doubt about it. (As a software engineer myself, I like seeing people tackling problems and finding out solutions).

However, here is the picture: There are two different approaches to Jacko's service. Yes, one is to make money, we all want it. Two, we also want to learn this trade from Jacko. For that, we need to receive the SMS, understand it (hopefully), and also importantly, make a decision about the position size, and then execute it. It's these steps that I wouldn't want to give up doing myself, even if I have to get up in the middle of the night. BTW: I live in California too. (This is by no means a criticism toward you, my kids have their own room and my fiance is in full agreement with that. Everybody has different circumstances, and I respect that).

The other point is, this whole thread and this system is Jacko's idea. As you suggested, he needs to be asked (and you are exactly doing that). If he agrees with this idea, it can co-exist with the already existing system and people can use it once in a while (maybe when they are traveling, etc.)

Again, I am interested in technical aspects of this solution, how it can be designed and implemented, etc. Also, if you need any help, please let me know.
  • #8,479
  • Jul 12, 2009 4:38pm Jul 12, 2009 4:38pm
Quoting msenocak
Bernard,

I can see the merits of your solution: For some of us, it will make it more possible to use Jacko's SMSs, even if we are hindered by some of our lives' responsibilities. It's a very productive thought, and as such it has to be acknowledged, no doubt about it. (As a software engineer myself, I like seeing people tackling problems and finding out solutions).

...
Again, I am interested in technical aspects of this solution, how it can be designed and implemented, etc. Also, if you need any help, please let me know.
Hi again Bernard,

As an engineer, I feel obligated to add one criticism to your suggestion, though. It's meant to be constructive, I assure you.

Currently, people are receiving SMSs from Jacko directly. That means, Jacko and his SMS service provider together are the potential single point of failure. If that fails, nobody receives any SMS, and the whole trade will not happen. If it does not fail, then everybody's cell phone provider is the potential SINGLE points of failure, affecting only one person' trade.

In your solution, whoever volunteers to do the entry into the account, will be the single point of entry for THE WHOLE GROUP who is subscribed to this additional service. That makes TWO potential points of failure.

What I'm saying is, if it will be decided to implement your idea, we need to come up with a redundancy solution in order to avoid this higher risk.

I think it's good to know the risks beforehand.
  • #8,480
  • Jul 12, 2009 5:24pm Jul 12, 2009 5:24pm
People still agree 4hr trend is down?
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