Jacko's Forex House of Pleasure and Pain

I agree. I had heard a comment about switching from the 4hr to the daily because the 4hr had too much noise. I've preferred the 4hr chart over the lower time frames because it filters out a lot of the market noise. Of course when a market is consolidating even the higher time frames will appear noisy or directionless. I'm not a breakout trader so I tend to let the market stretch out before my system triggers a signal.

Hi Kean,

Ive been following this method for a bit now. Maybe this chart would help you?

It appears to me (IMHO) that the way to KNOW if the trend HAS changed direction would simply be a break and retest of the main TL. Thats the way i like to see it. nice and simple. no double thinking or confusion.

What do you think?

I marked the chart as an example of what i believe WOULD be a change in sentiment.

Also to mention, that the usd is pretty rough with everything going on, and fundamentally speaking, i seem to understand that we are in a VERY strong bullish eur trend vs the usd getting slapped about. and whats to come aswell...

And exactly who are you referring to?

Hi Pipalicious,
Yes your chart shows trend direction change well. And so, as the support trend line on the current euro chart was never broken...we therefore never come out of the bullish trend.
Kean

Anyone who considers that the trend is up one day, going down two days later, then back up again by the close of the week.
It's called fundamentally curve fitting technical analysis, otherwise known as seeing something which isn't actually there, and it doesn't work.
Did you see one trend all week?

Kean,

i do not think Jacko ever said the retracement to be a trend change. he has consistently said that he expected a significant retracement to the support line or beyond. that is very different from saying its a trend change.

I want to apologize ahead of time to those who came expecting to read a discussion about trading. I would imagine that like myself, the vast majority of you come here discuss trading in general, Jacko’s method as outlined in his first few posts and any current Jacko activity and/or modifications he has made in his blog. While I too am only interested in discussions that will improve our trading, it appears not everyone has the same motive regardless of his claim otherwise. I’m specifically speaking of Interceptor. This last comment by him will not go unaddressed. His last statement, viewed in context with recent responses to my recent posts, leaves no doubt his past few posts have been nothing but an attempt to bait me into a confrontation is this thread. One has to read no further than three of his posts to realize his only interest is to be combative at every turn. Given the respect I have for this thread and the majority of people viewing it, I have shown a great deal of restraint - up to this point.

Interceptor, what gives you the right to berate every poster that does not agree with every aspect of your vision of the world? Is your life devoid of something that you get an adrenaline rush from playing the role of Internet bad boy behind the comfort of your keyboard in some far away place? Does picking fights and using condescending tone to people who frequent this cherished thread compensate for something you lack? And I quote from post #9372, a post to which you were the author, “I hope that my bull-in-a-china-shop manners don't cause offence..” As much delight as you take in that attitude I would say you’re more akin to a fly in the punch bowl – outright repulsive. You have been downright rude to newcomers and others who frequent this thread. God forbid one of them come in here to clarify their understanding of some aspect of the method. You see that as a perfect opportunity to pounce like a starving lion on a maimed defenseless baby dear. You treat posters like prey to satisfy your insatiable appetite to be a deprived jack ass. Do you think this is the best way to encourage discussion or are you more interested in driving people away so you can post by yourself to yourself? Maybe you’re just not aware of the concept of social grace. You act like the night watchman who has been given a uniform, which then makes you think you’re the Police Commissioner of Gotham City and anyone who enters must immediately be beaten and thrown in jail. Who died and left you supreme commander in chief?

Now you purport that I’ve been changing my view of the market on a daily basis. Perhaps your reading comprehension isn’t even on par with the 5 year on whom you depend for your market studies. You have consistently either demonstrated a lack of understanding to my posts or purposely misrepresented my posts in an attempt to prove some irrelevant point of yours. This started in one of your posts (9392) when you responded to a general claim I made about ambiguous trends. It’s not my fault you’re not intelligent enough to realize the general nature of the comment.

Back on October 6th, a couple posters were having a discussion about executing an AH on Jacko’s most recent trade call. In an attempt to help, I offered that “My chart tells me Jacko's last trade was a CT trade. I thought this was the case when the trade was discussed on Friday.” I further offered, “Because of this I would not execute an AH trade.” How is that different from my views the past few days as you claim? Are you advocating that I take your bitter old man approach when making a post?

Personally I do not advocate Counter Trend trades. I just don’t have the cajones for them. Some people have taken them based on Jacko’s market views and have apparently done well. Even Jacko has done so on a few occasions, although admittedly that is not his preferred method of trading. As long as these people are not suggesting these CT trades are being traded in adherence to Jackos method why do you keep scolding them? These people are adults. It’s their money. They can squander it any way they want. Offering advice may be helpful. Scolding grown adults the way you have done is despicable. You are not a parent to any of us, nor do we work for you. You complain of this thread being derailed yet you continue to exude the kind of behavior only befitting to Osama Bin Laden. If your intention is to foster discussion and keep this thread about Jacko’s method, you should start by looking in the mirror. A truthful mirror would reveal one of the main viruses of this thread.

Once again, to the rest of you who came to read about and discuss trading, I sincerely apologize for eventually feeding into his desire to take this thread down this road.

Hey Ricky,

I agree with you 100%, I can sense the tension on this thread lately.
The main reason Jacko doesn't post here anymore is because while trying to help most people he gets a few individuals who always disagree with him, just for the sake of disagreeing and he rather spend his time and energy helping people who wanna learn, than on people who just like arguing. That's also a reason why some of the other senior members have disappeared.

Dick.

Pin this up next to your computer-I have.
In moments of doubt or confusion, re-read it.
Works every time.

I am a Trend Trader

EVERYONE SHOULD TEST OUT THIS VERY UNUSUAL AND RARELY USED STRATEGY;

1. buy/ sell ONLY in the direction of the major trend and
2. buy/sell on dips.(Use support lines to guide you as to price...also "round" numbers ... I also use the 50% Fib ratio..)
3. bank your profits

Firstly, how do you know what the trend is?

DETERMINE THE TIME FRAME THAT YOU WANT TO TRADE.

1. If the graph on the chart starts in the bottom left hand corner and ends in the top right hand corner, the market is going UP.

2. If the graph on the chart starts in the top left hand corner and ends in the bottom right hand corner, the market is going DOWN.

3. If you are still confused, print it off and show it to a 5 year old...they will get it right EVERY time...LOL

The trend is the BEST friend you will ever have in the Forex market.

When you trade with the trend, even if you make a mistake, the market will get you out of your problem....If you make a mistake and you are fighting the trend ...YOU ARE STUFFED, BIG TIME !!!

Thanks kean.
I must learn to count to 300

The Cable chart I was looking at is below:

Truth is, if you find some way of being able to call the beginning and/or ends of trends, you will be lunching with Soros and Lewis before you know it! I think it's the Holy Grail which all have searched for.
Nice Hoople video, by the way.

Hi turnip15,
Oops, sorry about that, I assumed you were talking about the euro. Do you trade Jacko's method on many other pairs? How do you find it works with other markets?
Regards, Kean

I trade it on the cable but the SL have to be bigger than on the euro. I am now testing it on aussie too

What are the SL sizes you are using for the cable and aussie?

Hi,
Have you found trading cable to be more or less successful than euro?
What adjustments have you made for trading cable?
Regards,
Kean

Jackos rules works for both. Trading cable is more faster. Like heart-stopping type faster. It moves faster and further than euro. But cable has been trending better. The only adjustment is Cable needs a bigger SL.
The aussie has been trending beautifullly but you don't win as many pips in a move as Cable. The big plus of the aussie is that you only need a small stop loss.

Thats interesting, so what size SL have you found best for cable and the ausie and do you trail or keep a fixed SL?

Also, are you on the Daily or 4H with these?

Kean

Cable 150 and aussie 50 with fixed SLs. I am trading on the 4H with them both

Thanks forexmick, most helpful...
Kean