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Jacko's Forex House of Pleasure and Pain

  • #8,661
  • Aug 2, 2009 8:28pm Aug 2, 2009 8:28pm
I'm looking to go long at around 1.4150, I'll be watching price action once we get closer to that area and will go long on the way back up if it reverses
It's NOT GAMBLING when the odds are in your favor
  • #8,662
  • Aug 2, 2009 8:38pm Aug 2, 2009 8:38pm
Quoting fxtrader29
I am going to start trading the AUD and GBP this week so I will post them here. I don't think Jacko would be upset, as long as we trade those currencies according to his system but not blab out his calls on the EUR. I will email him and check that he is cool with it, and if he is, we can start this week. I want to email him about something with the GBP anyway, so I will include it in the email.
Quoting User Name
I don't think that's a good idea, some of us including myself only trade the Euro and one of the good thing about this thread, besides the occasional BS is that it only deals with the Euro so you don't have to sort through posts that don't relate. This will make things difficult especially for the newbies that will try to read everything from the beginning, I think it will be better if you start another thread for other currencies instead of mixing things up on this one.
Hi FXtrader29,

I wouldn't like to be flamed for what I'm gonna say, but I'm with User Name on this one. For the sake of cleanness of this thread -which has dealt exclusively with E/U since its inception- wouldn't it be better for you to start a new personal trading journal, where everyone interested can subscribe and just include a link in your signature?

We all know Jacko only trades E/U and although he has tried, he has mentioned in the blog that he is not interested in trading other pairs for the time being. Having said that, I guess it's up to Jacko to decide whether he considers this is a good idea or not.

My 0.02 pips.

Cheers,
  • #8,663
  • Aug 2, 2009 8:48pm Aug 2, 2009 8:48pm
Quoting fxtrader29
I am going to start trading the AUD and GBP this week so I will post them here. I don't think Jacko would be upset, as long as we trade those currencies according to his system but not blab out his calls on the EUR. I will email him and check that he is cool with it, and if he is, we can start this week. I want to email him about something with the GBP anyway, so I will include it in the email.
I had an email back from jacko and he has no problem with us posting here about the AUD and GBP using his system. He did warn me that it will attract every deadbeat and trouble maker trying to score points and asked me whether I was prepared to spend a lot of time arguing with them. From my view, I want to stay within this thread to keep the system and the trading together in one, buut I am having second thoughts about the time and effort required and whether I want the pain of arguing with the troublemakers

BTW, the fact that this thread is now buried in the back of the forum amongst the amongst the scams and rip-off systems was upsetting to him but he doesn't want to influence Twee's business decisions.
  • #8,664
  • Edited Aug 3, 2009 2:31am Aug 2, 2009 8:49pm | Edited Aug 3, 2009 2:31am
Quoting User Name
I'm looking to go long at around 1.4150, I'll be watching price action once we get closer to that area and will go long on the way back up if it reverses
Come on guys, let's get back to trading...

I'm SHORT from 1.4300, tight S/L at 1.4340 right above this year's high. My expected T/P is around the 50% fib (1.4150ish). Attached is the H4 chart which I based my entry last night (for me). I'm expecting a bit of consolidation or even a bounce back up from 1.4220ish (right around the second red arrow).

This is what I'm seeing at the moment:

Edit: GMT 10:29. After being almost 100 pips in the green, price reversed on me and I got stopped out at B/E... ouch!! At least I didn't take a loss. In hindsight, I should have closed around 4210ish.... but I wanted to let the trade play itself out (I was actually expecting PA to reach the 50% fib).
Attached Image (click to enlarge)
Click to Enlarge Name: Aug_02_H4_Jacko.png Size: 93 KB
  • #8,665
  • Aug 2, 2009 8:57pm Aug 2, 2009 8:57pm
I was looking at the euro late and noticed that the 4300 area would have been a great place to get in at.
  • #8,666
  • Aug 2, 2009 10:15pm Aug 2, 2009 10:15pm
Short @ 1.4250, SL @ 1.4300, Off to the beach and hoping London will push price down
  • #8,667
  • Aug 3, 2009 5:15am Aug 3, 2009 5:15am
Quoting kodflakes
I was looking at the euro late and noticed that the 4300 area would have been a great place to get in at.
We're back to 1.4300
  • #8,668
  • Aug 3, 2009 9:41am Aug 3, 2009 9:41am
http://i30.tinypic.com/u1w0g.png
  • #8,669
  • Aug 3, 2009 9:45am Aug 3, 2009 9:45am
Low,
Long? Why?
What are you going to do if 1.4300 doesn't hold as support?

BTW - I'm currently short at 1.4420 due to monthly resistance around 1.4430 held.
  • #8,670
  • Aug 3, 2009 10:03am Aug 3, 2009 10:03am
Quoting dwildes
Low,
Long? Why?
What are you going to do if 1.4300 doesn't hold as support?

Long?

Because it's been fighting to break for several months, and has succeeded.

And if 1.43 doesn't hold? Well then, I won't get my PA, and therefore won't enter long, so I'm cool either way.

I won't be entering a blind long at 1.43, I will look for my entry criteria to be met.

Personally, I'm just happy things are moving again, and hope they continue to.
  • #8,671
  • Aug 3, 2009 10:20am Aug 3, 2009 10:20am
Quoting Low
http://i30.tinypic.com/u1w0g.png
finally

I'm also looking to go long, a little higher than my previous target, but closer to the current 50% fib. I don't have a crystal ball and dont wanna predict the top of this breakout and go short so I'll just follow the trend up on a pullback
It's NOT GAMBLING when the odds are in your favor
  • #8,672
  • Aug 3, 2009 10:35am Aug 3, 2009 10:35am
looks like everyone is on the same page Im thinking it is gonna get to 4500 before there is any sign of a pull back to 4300
  • #8,673
  • Aug 3, 2009 11:34am Aug 3, 2009 11:34am
Quoting Joe T
2) That said, as a newbie who wants to learn, there isn't really anything much more annoying than posts that just say "Jacko's great!" and really kiss patootie without adding anything else to the conversation

Anything outside of eurusd is out of bounds because Jacko doesn't trade it, for example....

Like Trader KGB, I wanted to second this.

Without being offensive, but in all honesty, I really don't / didn't care for posts except for those from jacko. Self-evident why.

Once jacko himself basically stopped posting, posts to the thread per day actually seemed to increase, yet my interest in the thread pretty much went to 0.

It's a shame there isn't even HISTORICAL illustration of what he did and why.
I don't want signals or trades from this thread, I want an understanding of and insight into jacko's reasoning(saying "entries at round numbers and 50%" never really made me fully happy) in order to perhaps learn something additional from someone several people have declared quite good at what he's doing.
I tried asking towards this direction(more of his reasoning) before, but there really wasn't an answer best that I remember.

If he posted only 1 "last week's example trade" per week with the reasoning alongside, the main "purpose" of this thread for me would already be served.

I used to think that the reason there was a lack of more in depth reasoning may have been that he trades a lot from the gut, but from various posts about how detailed his explanations on the blog are, I've been made to change that assumption. The interesting question now would be is there is a willingness to spare a post once in a while for the outside world or not.

There's zero obligation on jacko's behalf, obviously.
It appears he initially cared, shared and then either got overwhelmed or saw the difference between a public forum and a "chosen few" surrounding(the difference tends to be vast).
Either way, things changed and he(or at least his input) "left".

But on the other hand I have to say there is no reason to "be here" if there is no actual jacko content anymore.
Again, this isn't to offend anyone who isn't jacko, but if I had went to a Michael Jackson concert, rest his soul, I wouldn't have stayed if he didn't show on stage, either.
And keeping in mind I am posting in a thread called JACKO'S Forex House.

So, in short, and to pay respect to the fact that I AM posting in his thread, a direct address in closing:

Hi jacko,
I really do find it interesting how you broke down a trend trading principle into very KISS-ified steps and seem to consistently apply it to the market that surrounds us. I for one would be interested in any trade examples / material you feel fit to share after it has lost it's "value" for those that already paid for it and received their benefit in terms of actual trade income.
Please, if you did at any point start this thread for actually sharing experience, do continue to do so and let us (now-) "outsiders" passively participate in the occassional trade post-mortem analysis.
That, for me, would be quite enough. It's not supposed to be a free equivalent of the private blog access, but just an optional self-education for those who care(and sometimes, too, share).
I thought that was the point initially, and it's in that spirit that I'm asking.


Best,

Seek
Trust price. Know yourself.
  • #8,674
  • Aug 3, 2009 12:34pm Aug 3, 2009 12:34pm
Quoting SeekingLight
Like Trader KGB, I wanted to second this.

Without being offensive, but in all honesty, I really don't / didn't care for posts except for those from jacko. Self-evident why.

Once jacko himself basically stopped posting, posts to the thread per day actually seemed to increase, yet my interest in the thread pretty much went to 0.

It's a shame there isn't even HISTORICAL illustration of what he did and why.
I don't want signals or trades from this thread, I want an understanding of and insight into jacko's reasoning(saying "entries at round...
i think it will be fruitful if u go daily fx forum where jakos has traded live from 2006.if u study jakos comment [which are plenty]in conjunction with daily charts from feb 2006 will be good education
Allah has permitted trade and has forbidden interest [koran]
  • #8,675
  • Aug 3, 2009 6:58pm Aug 3, 2009 6:58pm
Being a young turtle I am trying to draw Jacko's trend lines on my chart. I am currently using Dealbook 360 from GFTForex but find it very difficult to draw them with this platform. It will not allow me to automatically go to 300 periods so I have to zoom out which makes my periods very small and unable to view and plot effectively. Can anyone recommend a good platform to be able to learn this strategy?...Thanks.....
  • #8,676
  • Aug 3, 2009 7:13pm Aug 3, 2009 7:13pm
Download any MT4 demo and use it for charts. If you sign up for a demo you will get 3 months with most on one deal and then sign up again. I learned on FXCM orignal software but once I got into MT4 I never looked back. Currently Im with FXDD on the live portion I rarely lose connection not sure how the demo goes.

Quoting schlaps
Being a young turtle I am trying to draw Jacko's trend lines on my chart. I am currently using Dealbook 360 from GFTForex but find it very difficult to draw them with this platform. It will not allow me to automatically go to 300 periods so I have to zoom out which makes my periods very small and unable to view and plot effectively. Can anyone recommend a good platform to be able to learn this strategy?...Thanks.....
  • #8,677
  • Aug 3, 2009 7:49pm Aug 3, 2009 7:49pm
Quoting schlaps
Being a young turtle I am trying to draw Jacko's trend lines on my chart. I am currently using Dealbook 360 from GFTForex but find it very difficult to draw them with this platform. It will not allow me to automatically go to 300 periods so I have to zoom out which makes my periods very small and unable to view and plot effectively. Can anyone recommend a good platform to be able to learn this strategy?...Thanks.....
Another alternative to MT4 would be netdania.com and pull up 'chart station' which is in java you can select exactly how many bars you want to see on the screen. The default is 300.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #8,678
  • Aug 4, 2009 5:56am Aug 4, 2009 5:56am
This is probably a dumb question, but how do you join jacko? also, in the mean time, does anyone think eu 1.42 is still a target range for the next day or 2? (I'm in a bad position and want to learn)
  • #8,679
  • Aug 4, 2009 6:58am Aug 4, 2009 6:58am
hi everyone...hope you guys had FUN yesterday...anyways i went long this morning at 1.4400 and got stopped -31 pips...would be looking to go long at 1.4400 in about 1-4hrs from now. thats if price comes to that region.it temptng to go long right now but i'll wait a little bit. happy pipping
  • #8,680
  • Aug 4, 2009 7:14am Aug 4, 2009 7:14am
okey...now i have 2 pending orders..one at 1.4400 and another at 1.4450. lets wait and see which one get hit first.
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