Jacko's Forex House of Pleasure and Pain | Page 435 | Forex Factory

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Jacko's Forex House of Pleasure and Pain

  • #8,681
  • Aug 4, 2009 9:22am Aug 4, 2009 9:22am
Quoting Y2k_master
This is probably a dumb question, but how do you join jacko?
Hi Y2K_Master,

Don't want to sound like a smarta$$, but Jacko's contact info is in every single of his posts... Just in case you're a bit lazy to read page one, here you go http://waynejacksonfx.blogspot.com.
  • #8,682
  • Aug 4, 2009 9:30am Aug 4, 2009 9:30am
Quoting Jpnek
Hi Y2K_Master,

Don't want to sound like a smarta$$, but Jacko's contact info is in every single of his posts... Just in case you're a bit lazy to read page one, here you go http://waynejacksonfx.blogspot.com.

I was on there, it just seemed inactive. Or is it because I can't see the actual member activity?

Sent him an e-mail, thank you
  • #8,683
  • Aug 4, 2009 9:34am Aug 4, 2009 9:34am
got filled at 1.4400 again.. cancelled the other order...lets see how it goes.
  • #8,684
  • Aug 4, 2009 9:35am Aug 4, 2009 9:35am
Quoting spotless1212
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.
Hi spotless1212,

If you are Long biased, wouldn't it be better to go Long on a dip instead of buying at the very top of the range... Jut MHO. But, as Jacko would say, I could be wrooooong...

Hint: The idea behind Jacko's method is to always buy at discount.
  • #8,685
  • Aug 4, 2009 9:38am Aug 4, 2009 9:38am
Im with you on that one JP

Quoting Jpnek
Hi spotless1212,

If you are Long biased, wouldn't it be better to go Long on a dip instead of buying at the very top of the range... Jut MHO. But, as Jacko would say, I could be wrooooong...
  • #8,686
  • Aug 4, 2009 9:39am Aug 4, 2009 9:39am
Quoting Jpnek
Hi spotless1212,

If you are Long biased, wouldn't it be better to go Long on a dip instead of buying at the very top of the range... Jut MHO. But, as Jacko would say, I could be wrooooong...

yeah...i could also be WWWRRONG!!!
  • #8,687
  • Aug 4, 2009 9:42am Aug 4, 2009 9:42am
Quoting Y2k_master
I was on there, it just seemed inactive. Or is it because I can't see the actual member activity?

Sent him an e-mail, thank you
OK, sorry about that, Y2k_master. I thought that you didn't take the time to even read post one... LOL. You won't see any much activity there as that's not the members blog.

GL
  • #8,688
  • Aug 4, 2009 9:47am Aug 4, 2009 9:47am
Y2k
I highlighted the 4400 area and there is tons of indecision there. Now the next red line is at 4300. look at the bull runs that got close to it and stopped. Then one finally blew right through it break of resistance. At this point I look for this resistance to become support and look for longs in that area.
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  • #8,689
  • Aug 4, 2009 9:52am Aug 4, 2009 9:52am
Quoting spotless1212
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.
Hi spotless1212,

I don't want to sound like a smarta$$ (again...), but if PA is climbing from 1.4380ish... how would you expect the 1.4450 order to get filled before the 1.4400...?
  • #8,690
  • Aug 4, 2009 10:03am Aug 4, 2009 10:03am
Quoting Jpnek
Hi spotless1212,

I don't want to sound like a smarta$$ (again...), but if PA is climbing from 1.4380ish... how would you expect the 1.4450 order to get filled before the 1.4400...?

okey..i hope i dont get hanged for this.
basically i use trend lines and round numbers to pick my entry.once the trend line is broken, i enter on the closest round number...i hope the diagram explains it.
Attached Image
  • #8,691
  • Edited 10:17am Aug 4, 2009 10:06am | Edited 10:17am
Quoting kodflakes
Y2k
I highlighted the 4400 area and there is tons of indecision there. Now the next red line is at 4300. look at the bull runs that got close to it and stopped. Then one finally blew right through it break of resistance. At this point I look for this resistance to become support and look for longs in that area.
Good thinking, kodflakes. This may help you a bit too, spotless1212:
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  • #8,692
  • Aug 4, 2009 10:15am Aug 4, 2009 10:15am
Quoting Jpnek
Good thinking, kodflakes. This may help you a bit too, spotless1212:

thanks for the tip..but i'll stick to what i know for now..untill i become WWRONG!!! lol
  • #8,693
  • Aug 4, 2009 10:20am Aug 4, 2009 10:20am
Quoting spotless1212
thanks for the tip..but i'll stick to what i know for now..untill i become WWRONG!!! lol
That's good thinking, too, spotless1212. Plan your trade and trade your plan.

Good luck on the Long

Regards,
  • #8,694
  • Aug 4, 2009 10:24am Aug 4, 2009 10:24am
No worries man, I see what your doing I was just talking about what I do

Quoting spotless1212
thanks for the tip..but i'll stick to what i know for now..untill i become WWRONG!!! lol
  • #8,695
  • Aug 4, 2009 2:05pm Aug 4, 2009 2:05pm
Hi All,

I have sent Jacko an e-mail and a PM, asking how I go about joining the group since I am very interested in this. He hasn't responded as yet, just wondered if he was away on vacation or something ? Or if he is just not interested or maybe not taking anbody into the group at the moment.

Does anybody know, or can anybody give me any guidance ?

Thanks
  • #8,696
  • Aug 4, 2009 2:05pm Aug 4, 2009 2:05pm
Quoting SeekingLight
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...
Great post Seeking Light, I share all of your comments.

Just something else to add, another thing I miss from Jacko's more participatory days in this thread, were specifically his fundamental discussions about the EUR/USD the dollar itself. He shared a sentiment & analysis along similar lines of Jim Rogers, Peter Schiff, Karl Denninger, etc and it was those posts which I enjoyed reading the most (as good fundamental analysis is somewhat of a rarity on these forums). I was most curious how that fundamental forecast evolved during the 26% counter-trend rally in the dollar Apr '08 - Mar '09 (which the former 3 names basically missed, somewhat drastically in Schiff's case).

I was hoping Jacko would continue those posts here while using the private forum for the technical/trade recommendations, but unfortunately for us that hasn't been the case. Perhaps someday..
  • #8,697
  • Aug 4, 2009 2:26pm Aug 4, 2009 2:26pm
Quoting kodflakes
Y2k
I highlighted the 4400 area and there is tons of indecision there. Now the next red line is at 4300. look at the bull runs that got close to it and stopped. Then one finally blew right through it break of resistance. At this point I look for this resistance to become support and look for longs in that area.

Much better analysis/strategy than the one I saw you post yesterday!
  • #8,698
  • Aug 4, 2009 3:24pm Aug 4, 2009 3:24pm
Quoting phoenix3
Thanks for your replies. I understand how important MM can be but there has got to be somebody out there who trades with a greater risk factor than 2% and is successful. If you are out there please reply....
I usually trade 3%, occasionally trade 5% and twice in the past 4 years I've used 20% on trades that lasted 2 minutes (that was all the adrenaline that I could stomach per year).

The problem is that this is an unregulated market, and if your risk is too high, your broker can quite easily manipulate price action such that you end up with a margin call. All it takes is one quick gyration (happens quite often).

With your $2,500 you would trade with a $100,000 currency exposure, using 1:40 leverage, or 40% risk. If the market goes 25 pips against you, you're dead, because one pip represents $100 exposure, and once you have no more capital to cover your exposure, the broker will close your position and tell you to put more money into your account.
  • #8,699
  • Aug 4, 2009 6:08pm Aug 4, 2009 6:08pm
Quoting dwildes
Much better analysis/strategy than the one I saw you post yesterday!
We have our good days and bad days
  • #8,700
  • Aug 4, 2009 6:21pm Aug 4, 2009 6:21pm
Quoting digitil
With your $2,500 you would trade with a $100,000 currency exposure, using 1:40 leverage, or 40% risk. If the market goes 25 pips against you, you're dead, because one pip represents $100 exposure
Huh? 1 Standard Lot (100,000) is $10 / pip. Also, how do you figure 40:1 leverage = 40% risk? 40% of $2500 is $1000. If you risk $1000 @ $10/pip your stop loss would be 100 pips. How do you figure 25 pips?

No matter, 40% is a very high level of risk.
Don't wish it were easier, wish you were better. ~ Jim Rohn
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