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Forex Mentors - The Best Investment You Can Make?

  • #401
  • Aug 31, 2009 4:21am Aug 31, 2009 4:21am
Quoting GubyIQ
by the way, i`m now thinking of selling my own mentoring service, something around $500 a year, because we`re in recession.

That's what I like to see, adjusting to market forces and economic conditions!

Maybe you could do a 2-for-1 offer, Buy One, Get One Free, that way I could make twice as much money!


  • #402
  • Aug 31, 2009 4:46am Aug 31, 2009 4:46am
Quoting pipmutt
Well no-one from the Jacko camp has stepped up yet, even your leader has refused to have a debate, they're probably way to busy counting all their 'enormously profitable' gains, lol
Pipmutt, Who are you? Who are you ? see video below ! LOL !

Inserted Video
Trading Forever !!!
  • #403
  • Aug 31, 2009 5:17am Aug 31, 2009 5:17am
for the thread starter and all the other "enormously profitable" jacko turtles
Inserted Video
The worst thing I can be is the same as everybody else. I hate that.
  • #404
  • Aug 31, 2009 6:05am Aug 31, 2009 6:05am
Quoting pipmutt
Of course it is that's why you paid your $700, you obviously don't know any different, if you did you would very quickly realize the blatant errors I highlighted from the first page of his thread, they're not representative of someone with supposedly 30 years trading experience. Why do you think neither your 'mentor' nor any of his followers can debate the issues I raised? Because they don't have sufficient experience or knowledge of the market or trading, that's why. Please feel free to give it a shot though.....but you won't, you would rather...
I'm not a member of Jacko's group. I'm not even an experienced forex trader. I have traded other markets for more than thirty years, though.

Re-reading the quotes you keep posting, none of them seems unreasonable to me, as opinions someone involved in the forex market might hold. What is it that's so contentious about them? Given that there are few absolute truths in any active market (price fluctuates, is the only one I can think of) every trader has to have his or her beliefs, around which they then construct an approach to trading. It's the same in other areas of life. We have beliefs, that others may or may not share, around which we organise the way we live. What is it about these particular opinions of Jacko's that put him in the doghouse, so far as you're concerned? I assume your own opinions are different; what is so extraordinary about that? Aren't we all different?

Just for interest, if I take the quotes, one by one, my immediate thoughts are these:

"When you trade with the trend, even if you make a mistake, the market will get you out of your problem"

If we think of the trend as being like a river, and we jump in ahead of where it turns out we should have done, if we're patient, we should float back to our preferred starting point.

"You can "borrow" as much as you want (by increasing your leverage)"

Well, that's correct. How far it's a good idea to do this is another matter.

"the shorter the time period, the more you are gambling and punting on tiny movements"

Isn't that the case? It certainly seems that way in the stockmarket.

"Smart Money is the Central Banks. They actually determine the trend by sheer weight of money."

I would imagine they make a major contribution.

"You have NO chance trying to trade the news"

I believe it's widely accepted that only those in bank trading rooms have any prospect of coming out ahead in this field.

"There is no "mechanical system" that is a "Holy Grail"

I should have thought that was obvious. Unless we're talking about a modest, low figure annual return, no mechanical system has shown a long term success rate. according to Futures Truth, who make it their business to know.

"If price is hanging around a support or resistance level, it’s likely to break in the opposite direction."

Well, it will go one way or the other. Which way is only ever going to be a matter of opinion!

"when the market comes back, as it invariably does"

I'm not sure of the context of this, but regular retracements do usually take place.

"Less than 4 hours tends to be "noise" rather than a "trend"

As I said, it certainly seems that way in other active markets.

"If your trade is a winner, you stick a trailing stop loss on it and let it run"

Ideally, that is what should be done. It's hard to do, and not always successful; but in the long run, it's worked for me.

"If your trade is a loser, employ the anti-hedging strategy, and at some time, you can get your losses back"

I had to check on what this strategy was. It's a new idea to me; and I must say, it does seem to have considerable merit, assuming the trend has been properly read, in the first place.
  • #405
  • Aug 31, 2009 7:10am Aug 31, 2009 7:10am
Quoting slackjaw
I'm not a member of Jacko's group. I'm not even an experienced forex trader.
Hi slackjaw

Thanks for your post but it kind of defeats the purpose of the exercise.

Ideally it would have been beneficial to have Jacko himself participate in a discussion about the market/trading opinions he expresses to his (potential) customers, or as a second choice for one of his customers to demonstrate what they've learned from subscribing to his service. Their replies and opinions would be representative of the value of the information this particular vendor offers to a novice trader, as well as it's suitability and it's accuracy, the proof of the pudding so to speak!

As you pointed out, some aspects of trading can be extremely subjective which is why I've tried to pick out some of the less ambiguous points to be able to discuss them subjectively.
  • #406
  • Edited 7:54am Aug 31, 2009 7:22am | Edited 7:54am
Troll. I knew you wouldn't say why YOU think they are bunk.

You make the claim they are a misrepresentation and inaccurate, yet you fail to say why. Someone finally takes you up on your challenge to answer your question and now that it is your turn to say why they are bunk and you run.

Classic. Total Troll.


Quoting pipmutt
Hi slackjaw

Thanks for your post but it kind of defeats the purpose of the exercise.

Ideally it would have been beneficial to have Jacko himself participate in a discussion about the market/trading opinions he expresses to his (potential) customers, or as a second choice for one of his customers to demonstrate what they've learned from subscribing to his service. Their replies and opinions would be representative of the value of the information this particular vendor offers to a novice trader, as well as it's suitability and it's accuracy, the...
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #407
  • Aug 31, 2009 7:25am Aug 31, 2009 7:25am
Thank you Slackjaw - I wouldn't know what else to add.

Regarding the AH strategy - is it infallible? No - and I don't think jacko ever intended for it to be construed as such (especially in a ranging market like the one we're in currently). Can it be useful to help recover or at worst even reduce previous DD's - particularly in a trending market? Yes.

Have I used it successfully? Yes.

Have I used it and it ultimately failed? Yes

Will I stop using it for that reason? Not in a million years as FOR ME it's advantages far outweigh the possible disadvantages.

Cheers

EDIT: Pipmutt I have asked you more than once to step up to the plate and express your ideas clearly regarding those points you find to be so misleading or ambigous. You have yet again chosen not to. Slackjaw has saved me the trouble of expressing my views (which coincide with his) so I really don't see where else we can go with this...
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #408
  • Aug 31, 2009 7:29am Aug 31, 2009 7:29am
Quoting LasVahGoose
Troll. I knew you wouldn't say why YOU think they are bunk.
Well you're more than welcome to pick up the baton seeing as coscorp doesn't seem to want it now, as a Jacko subscriber would you like to discuss those points or is this potato too hot for you?


Back in a while....chat among yourselves
  • #409
  • Edited 7:53am Aug 31, 2009 7:30am | Edited 7:53am
Quoting pipmutt
Well you're more than welcome to pick up the baton seeing as coscorp doesn't seem to want it now, as a Jacko subscriber would you like to discuss those points?
The point is YOU do not want to discuss the points, other than to say they are inaccurate. Back up why YOU think those statements are inaccurate. That is YOUR claim. YOU make the claim YOU back it up.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #410
  • Aug 31, 2009 7:38am Aug 31, 2009 7:38am
Quoting pipmutt
Well you're more than welcome to pick up the baton seeing as coscorp doesn't seem to want it now, as a Jacko subscriber would you like to discuss those points or is this potato too hot for you?


Back in a while....chat among yourselves
What is one supposed to do Pipmutt? I've invited you time and again to clearly express your views/ideas on each of those points and why they are inaccurate according to you. Have I missed a post where you actually did so? If so I apologize, please indicate the post and we'll take it from there.
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #411
  • Aug 31, 2009 7:57am Aug 31, 2009 7:57am
Quoting LasVahGoose
Classic. Total Troll.
totally agreed
Trading Forever !!!
  • #412
  • Aug 31, 2009 9:00am Aug 31, 2009 9:00am
Quoting coscorp
What is one supposed to do Pipmutt? I've invited you time and again to clearly express your views/ideas on each of those points and why they are inaccurate according to you. Have I missed a post where you actually did so? If so I apologize, please indicate the post and we'll take it from there.
Post #397, you never replied to it.

You and Goose (and all the other Jacko groupies, even Jacko himself!) seem reluctant to take me up on my offer for some reason, you've all been doing a dance!

It's now time to stop dancing and put your money where your mouth is, either you want to discuss the points rationally and methodically or you don't/can't/won't. If you do then pick a point and let's go. You say you don't want spoon feeding but so far that's all you've asked for, to be spoon fed the reasons why those points are inaccurate and misleading. I'm more than happy to help you answer your own questions, that way no-one is being spoon fed and you may actually learn something rather than trying to make this a challenge or competition.

Up to you, it makes absolutely no difference to me one way or the other
  • #413
  • Aug 31, 2009 9:09am Aug 31, 2009 9:09am
I did but I didn't quote it - read my edit above.

I've been up on the plate waiting for you for eons now asking you time and again to put YOUR money where YOUR mouth is and support your contention with something more than a simple they are misleading etc.

So, I'm waiting - why are those points misleading, wrong, or whatever you prefer?

Without you stepping up and telling me more than a simple "they are misleading" we can't go much further can we? One should recall that YOU made the original claim but have yet to back it up with solid arguments.
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #414
  • Aug 31, 2009 9:14am Aug 31, 2009 9:14am
Quoting coscorp
I did but I didn't quote it - read my edit above.

I've been up on the plate waiting for you for eons now asking you time and again to put YOUR money where YOUR mouth is and support your contention with something more than a simple they are misleading etc.

So, I'm waiting - why are those points misleading, wrong, or whatever you prefer?

Without you stepping up and telling me more than a simple "they are misleading" we can't go much further can we? One should recall that YOU made the original claim but have yet to back it up with solid arguments....

I'm sorry, which part of "pick a point and let's go" do you need further explanation about? Are you actually reading the posts you're replying to?

It's the day of reckoning coscorp, stop dancing and let's get down to business....
  • #415
  • Aug 31, 2009 9:17am Aug 31, 2009 9:17am
Pick a point??? I've been inviting YOU to do so for ages!



Where do you usually start from..the middle??!?!?

Start from the beginning....easier I think no?

EDIT I reread post 397 15 times---but for the life of me i can't see where you approached each point with arguments as to why they are misleading. Maybe now I shall be so lucky.
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #416
  • Aug 31, 2009 9:20am Aug 31, 2009 9:20am
Quoting coscorp
Pick a point??? I've been inviting YOU to do so for ages!



Where do you usually start from..the middle??!?!?

Start from the beginning....easier I think no?
Anywhere you like, your choice but just to remind you what I mentioned previously......

You say you don't want spoon feeding but so far that's all you've asked for, to be spoon fed the reasons why those points are inaccurate and misleading. I'm more than happy to help you answer your own questions, that way no-one is being spoon fed and you may actually learn something rather than trying to make this a challenge or competition.
  • #417
  • Aug 31, 2009 9:24am Aug 31, 2009 9:24am
LOL - you listed them - start from the top. I can number them if you want for more clarity.

Pipmutt - you make a contention - you must back it up. I'm waiting. I already stated what my views on those points were by quoting slackjaw and going into the AH strategy a bit more - it's in a previous post.

Now please tell me why - in your opinion - they are misleading?

Again please start from the top which would seem the logical thing to do.
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #418
  • Aug 31, 2009 9:27am Aug 31, 2009 9:27am
Quoting coscorp
LOL - you listed them - start from the top. I can number them if you want for more clarity.

Pipmutt - you make a contention - you must back it up. I'm waiting.
lol, for crying out loud, for the third and last time just pick one, pick it, quote it.....geez we could be here forever if this is how it's going to go, it's taking 3 pages for you to just pick a point and quote it!

Take your time....back soon.....
  • #419
  • Aug 31, 2009 9:31am Aug 31, 2009 9:31am
You quote them and can't even recall...let me help you..I'll even number them

1. "When you trade with the trend, even if you make a mistake, the market will get you out of your problem"

2. "You can "borrow" as much as you want (by increasing your leverage)"

3. "the shorter the time period, the more you are gambling and punting on tiny movements"

4. "Smart Money is the Central Banks. They actually determine the trend by sheer weight of money."

5. "You have NO chance trying to trade the news"

6. "There is no "mechanical system" that is a "Holy Grail"

7."If price is hanging around a support or resistance level, it’s likely to break in the opposite direction."

8. "when the market comes back, as it invariably does"

9. "Less than 4 hours tends to be "noise" rather than a "trend"

10. "If your trade is a winner, you stick a trailing stop loss on it and let it run"

11. "If your trade is a loser, employ the anti-hedging strategy, and at some time, you can get your losses back"

There you go. Number 1 would seem like a good one to start with.
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #420
  • Aug 31, 2009 9:34am Aug 31, 2009 9:34am
I'll pick one for you:

"When you trade with the trend, even if you make a mistake, the market will get you out of your problem"

This one stood out to for me as being quite dangerous advice if it wasn't put into a great deal of context. It seems to imply that trends always continue. If you made a mistake going long at 250 on GJ, despite being 'with the the trend' the market wouldn't have got you out of that problem. I'm not saying the advice is wrong, but it just looks like another way of expressing the cliche about trends and friends etc.. So, what exactly is meant by this statement?
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