Jacko's Forex House of Pleasure and Pain | Page 442 | Forex Factory

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Jacko's Forex House of Pleasure and Pain

  • #8,821
  • Aug 10, 2009 12:03pm Aug 10, 2009 12:03pm
i should have taken a position at 1.4105 long side but couldnt for psycological reason. urrg i know that was a major support point for uptrend auuurgh
Allah has permitted trade and has forbidden interest [koran]
  • #8,822
  • Aug 10, 2009 12:03pm Aug 10, 2009 12:03pm
Quoting drzakir123
i am trading this using 5 min chart.at 1310 uk time market touch 1.4202 and if u draw the trend line using that point and stretcing it down touching 1.4175 and u got ur downtrend line for 5 min chart and then everytime the price touch this point short the market. btw now im out of the market as price just broken this line thanks
Ok that's cool but please remember this thread and trading strategy is really intended for longer time frames... 4 hours and above ideally.
  • #8,823
  • Aug 10, 2009 12:17pm Aug 10, 2009 12:17pm
Quoting DanUK
Ok that's cool but please remember this thread and trading strategy is really intended for longer time frames... 4 hours and above ideally.
i thought this is jakos's forex house of pleasure and pain but doesnt know this is really jacko's forex house of pleaure and pain for 4 hours and above time frame.lol anyway thanks
Allah has permitted trade and has forbidden interest [koran]
  • #8,824
  • Aug 10, 2009 12:32pm Aug 10, 2009 12:32pm
Quoting drzakir123
i thought this is jakos's forex house of pleasure and pain but doesnt know this is really jacko's forex house of pleaure and pain for 4 hours and above time frame.lol anyway thanks
LMAO - that was funny.

But seriously now, Dan is correct. If you're going to trade that way you are not helping people who come here to learn Jacko style trading. Perhaps you can start a new thread so we can learn to trade your method.
  • #8,825
  • Aug 10, 2009 1:03pm Aug 10, 2009 1:03pm
I tried responding to my PM, but I think I am not allowed to send any until I have 100 posts. SOrry for cluttering the thread here with this, but my e-mail is geezep at yahoo dot com.

As for the concern about the 1.4200, here's what I actually posted: "Now seems like a potentially good entry at 1.4200, but given the AH at 1.4279, I'll hang tight until then unless there is a further drop that provides a much better entry."

I didn't enter at 1.4200, though I thought it may be a good potential entry. Since I wasn't planning to trade there because I had an AH outstanding, I didn't put a ton of thought into that one, so it's very possible I was horribly wrong on the comment - but it wasn't an entry point for me. Still remaining on the sidelines, content to wait on AH. My mind may change depending on where price goes.
  • #8,826
  • Aug 10, 2009 2:06pm Aug 10, 2009 2:06pm
Quoting RickyRudy
If you're going to trade that way you are not helping people who come here to learn Jacko style trading.
hmmm that make me start thinking.about jakos style.what exactly is it.if i understand correctly first thng he will do is to look for the long or medium term trend in the relevant time frame chart then whether its going up or down.then focusing on that relevant time period he will identify the pivot point from where probability of main trend asserting itself has the highest chance[i.e price touching three time on the trend line and so on].and then take the position in the direction of long term trend.and so on and so forth{apart from his AH strategy}.so rickyrudd if ur really interested in his style of trading then understand the concept rather than marrying urself to the timeframe.which as such is very superficial to me.then u will be more flexible and comfortable in whatever ur doing. and anyway trading is art rather than science.
Allah has permitted trade and has forbidden interest [koran]
  • #8,827
  • Aug 10, 2009 2:11pm Aug 10, 2009 2:11pm
just wondering how many '4 hourly and above' trader took the position at 1.4104 becos that is a great point to enter long for long term position.lol thanks but again i may be wwwwrongs as jakos used to say.lol
Allah has permitted trade and has forbidden interest [koran]
  • #8,828
  • Aug 10, 2009 2:37pm Aug 10, 2009 2:37pm
Quoting drzakir123
just wondering how many '4 hourly and above' trader took the position at 1.4104 becos that is a great point to enter long for long term position.lol thanks but again i may be wwwwrongs as jakos used to say.lol
I was waiting to enter at 1.4100 and stubbornly waited to no avail. I thought for sure we were going to see 1.4100 when we only saw 1.4104. Those worthless New York traders couldn't push the thing to the round number. I entered much higher.
  • #8,829
  • Aug 10, 2009 2:43pm Aug 10, 2009 2:43pm
same here...like a fool I didnt put my buy limit in (which would not have been triggered anyways) and then got distracted...patience..
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #8,830
  • Aug 10, 2009 3:00pm Aug 10, 2009 3:00pm
Hi Jacko,

I just joined this forum yesterday and read a lot of good things about you. If you dont mind I would like you to be my mentor. Please let me know if you would be interested and I would be happy to follow your lead

Thanks
  • #8,831
  • Aug 10, 2009 3:07pm Aug 10, 2009 3:07pm
Quoting drzakir123
hmmm that make me start thinking.about jakos style.what exactly is it.if i understand correctly first thng he will do is to look for the long or medium term trend in the relevant time frame chart then whether its going up or down.then focusing on that relevant time period he will identify the pivot point from where probability of main trend asserting itself has the highest chance[i.e price touching three time on the trend line and so on].and then take the position in the direction of long term trend.and so on and so forth{apart from his AH strategy}.so...
drzakir, I think what he meant is that while people are more than welcome to deviate from Jacko's exact methods on the first page, to keep this thread on topic, I think he would have wanted any discussion posted on this thread about his method only. Since this is a public forum, people are bound to talk about their methods too, but I would think that Jacko would want people discussing his exact methods as to reduce the "noise" and to not confuse newcomers.

I agree with you that each person should have different style of trading and might not have to follow Jacko's methods exactly. However, to be polite to Jacko (although he doesn't post much in this thread much any more), it would be better to start a seperate thread discussing your particular strategy as to not clutter this thread with somewhat irrelevant information. Not saying anything good or bad about your particular trading strategy, it's just courteous to keep this thread on topic (which is to talk about Jacko's specific method).
  • #8,832
  • Aug 10, 2009 3:43pm Aug 10, 2009 3:43pm
Quoting RickyRudy
I was waiting to enter at 1.4100 and stubbornly waited to no avail. I thought for sure we were going to see 1.4100 when we only saw 1.4104. Those worthless New York traders couldn't push the thing to the round number. I entered much higher.
jakos writing somewhere in 2006 that its a probablity game so he was not looking for exact spot to enter but used to enter about +/_ 10 or 20 pips around the trend line probably this price going to touch the trendline again in another few hours then try to buy more at that position. ricky be nice to ur self,{ same advice for coscorp}as losing few pips not worth it.hope that helps.thanks
Allah has permitted trade and has forbidden interest [koran]
  • #8,833
  • Aug 10, 2009 3:51pm Aug 10, 2009 3:51pm
now i am dreaming [keeping my eyes open ]of owning my own cruise. huh huh who is that .oop who pinch me.now a days ppl are jealous even of person who r daydreaming.danuk is that u who try to pinch me or is it ricky lol lol
Allah has permitted trade and has forbidden interest [koran]
  • #8,834
  • Aug 10, 2009 4:28pm Aug 10, 2009 4:28pm
Quoting drzakir123
now i am dreaming [keeping my eyes open ]of owning my own cruise. huh huh who is that .oop who pinch me.now a days ppl are jealous even of person who r daydreaming.danuk is that u who try to pinch me or is it ricky lol lol
LOL!
  • #8,835
  • Aug 10, 2009 4:33pm Aug 10, 2009 4:33pm
Quoting drzakir123
.so rickyrudd if ur really interested in his style of trading then understand the concept rather than marrying urself to the timeframe.which as such is very superficial to me.then u will be more flexible and comfortable in whatever ur doing. and anyway trading is art rather than science.
Maybe this isn't explicitly stated, but one important aspect of the method is to use a timeframe that filters the noise. Jacko believes anything less than H4 is just noise. That is why it is a medium to long term strategy. That's just as important as the other elements.

Additionally, working off the H4 generally provides less stress among other things. I'll use lower time frames to guide my entries but that's just about it. I dont' have the tolerance for stress or the time to scalp the market. Sorry I don't have the time to go further into this either.
  • #8,836
  • Aug 11, 2009 2:35am Aug 11, 2009 2:35am
Quoting drzakir123
now i am dreaming [keeping my eyes open ]of owning my own cruise. huh huh who is that .oop who pinch me.now a days ppl are jealous even of person who r daydreaming.danuk is that u who try to pinch me or is it ricky lol lol
I don't think you need to worry about anyone being jealous of your daydreams!?! However if I may quote Jacko regarding timeframes:

I start with weekly, then move closer in using daily, 4 hour and 1 hour to help me make a decision. Less than 4 hours tends to be "noise" rather than a "trend". They are the "sucker" rallies and declines.
PS Don't be the sucker...
  • #8,837
  • Aug 11, 2009 3:24am Aug 11, 2009 3:24am
Dear Jacko,

You mentioned that the first rule is Not to Lose Money. But how are we not going to lose money? Since we will lose one of our trade eventually, hence losing money. Am i missing something??

Best regards,
Rapphire.

Quoting jacko
As stated above, I don't use 40/50 pips SLs at the moment because of the 300+% increase in volatility.

[color=#ff0000][color=black]The volatility has made it more difficult, but traders need to learn to adapt to the changed circumstances. And if you were going to trade, you had to be very, very selective. We hunkered down and became very selective and were still able to pump out...
  • #8,838
  • Aug 11, 2009 3:28am Aug 11, 2009 3:28am
Quote
DETERMINE THE TIME FRAME THAT YOU WANT TO TRADE.

different strokes for different folks I guess.... albeit personally i don't like going below H4.....
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #8,839
  • Aug 11, 2009 4:58am Aug 11, 2009 4:58am
hi rickyrudy what is ur bias for long term
Allah has permitted trade and has forbidden interest [koran]
  • #8,840
  • Aug 11, 2009 6:03am Aug 11, 2009 6:03am
Quoting drzakir123
hi rickyrudy what is ur bias for long term
It depends, how do you define long term?
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