Jacko's Forex House of Pleasure and Pain | Page 480 | Forex Factory

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Jacko's Forex House of Pleasure and Pain

  • #9,581
  • Edited 4:33pm Oct 16, 2009 4:18pm | Edited 4:33pm
Quoting kenkomo
..................His trading style is not for everyone. If you are a scalper on the 5M charts, then that is not Jacko's style. If you are wanting a relaxed trading style with big profits, then Jacko is your man.
........
Very true.

I am an independent trader, not a part of any group but felt like appreciating what I find appreciable.

ps. More I learn about this market, more I appreciate his method and the logic behind his tactics. A good method is not everything but means a lot to a trader. No one can claim to be able to beat this market but can indeed maximize his/her chances and optimize profits. Drawdowns is normal cost of doing this business and therefore one should expect drawdowns in any method or style. In the end it is the bottom line that counts.
The Thief of Wall Street
  • #9,582
  • Oct 16, 2009 4:59pm Oct 16, 2009 4:59pm
Thanks sincerely to everyone who left comments to my question.
This is a great advert for Jacko and his method and mentoring.
I think this has been one of the hardest years to begin trading forex as a noob.


I am not in to scalping, it’s a young man’s game and that’s why I am here, I want to learn.
Thank God the forex factory exists, This place has really opened my eyes, I am starting to have faith that it’s all possible.


Thanks again to everyone.
Cheers Gary
  • #9,583
  • Oct 16, 2009 10:12pm Oct 16, 2009 10:12pm
06' to the begining to 08' would have been a great time to trade as a trend trader.Our times are pretty crazy now,but I guess figure out what type of market you are trading and embrace it.
  • #9,584
  • Oct 16, 2009 10:56pm Oct 16, 2009 10:56pm
Quoting garyfb
Thank God the forex factory exists, This place has really opened my eyes, I am starting to have faith that it’s all possible.


Thanks again to everyone.
Cheers Gary
I don't post much on this thread, but I got to thank Jacko, and all the other really helpful experienced traders who share their knowledge and wisdom so freely here.

Forex may quite possibly the most scam-laden industry in the world, and a lot of good people come to FF to help us beginners sort ourselves out and learn the in's and out's of this business.

Thanks.

Happy hunting.
  • #9,585
  • Edited 11:37pm Oct 16, 2009 11:07pm | Edited 11:37pm
Quoting jlmac27
06' to the begining to 08' would have been a great time to trade as a trend trader.Our times are pretty crazy now,but I guess figure out what type of market you are trading and embrace it.
True, but I expected a reversal during most part of that trend. He kept on going hands down. I am not associated with him or anyone else for that matter.

I used to be counter-trend trader. In counter-trend trading one at least has reasonable idea of the retrace, i.e. 100 pip move, expect 30 pip retrace, if move continues 200 more pips, now expect 100 pip retrace. But following trend has many advantages. Even if trend breaks and the pair starts ranging chance of a BE or at least contained losses.

I think he moved from daily timeframe to 4H to trade smaller trends. If this market consolidates further he may switch to 2H or 1H timeframes, who knows?

Unfortunately, he seldom visits this thread and I have little appreciation for this part despite having great regard for him.

ps. Now wait for his comments like a motherless child.
The Thief of Wall Street
  • #9,586
  • Oct 17, 2009 4:50pm Oct 17, 2009 4:50pm
Quoting zarraman
I am about halfway through reading this all thread. Fascinating trading system. The Anti Hedge tool is pure genius. It is something that is so simple, but is so clever. Big kudos and congratulations to jacko for sharing his system with every one. I don't know many other traders who would have done that. I can't wait to read the rest of the thread
I finally finished reading this thread. It was heavy going at the end. Where is Jacko now? Has he moved to another site or Forum? I have seen that he has a blog, but is he on any other public forums? I would like to get in contact with him? I have also started reading the James16 thread. They seem to be recognised as the two best threads here. They have been going for so long they must be good.
This Jacko system is a really good trading system. It is very similar to what I was taught in my training for my job. The Anti-Hedge tool was something new. I am surprised at how simple and clever it is. I have shown it to my bosses at work and they were gobsmacked at its cleverness. They thought I was a brilliant genius until I told them that I hadn't thought it up.
  • #9,587
  • Oct 18, 2009 3:02am Oct 18, 2009 3:02am
The best way to contact him is to go to this site and get his email address. http://waynejacksonfx.blogspot.com (http://waynejacksonfx.blogspot.com)
I don't know if he is on any other Forum. He speaks highly of the ForexFactory on his blog, so I don't think so.
  • #9,588
  • Oct 19, 2009 11:05am Oct 19, 2009 11:05am
  •  kean
  • | Joined Sep 2008 | Status: James16group Lifetime Member | 92 Posts
Can anybody tell me why Jacko is still trading the 4 hour charts? Volatility has been much lower for a good while now...surely we should be trading daily charts???
  • #9,589
  • Oct 19, 2009 12:07pm Oct 19, 2009 12:07pm
hey guys.

if you want exact details of how Jacko trades please then visit his website and sign up for the group.

Second of all stop complaining that he dosent reply here as much. The man is busy he has a fund plus 2 groups that he needs to update before he posts here.

the rules of trading are outlined in first page. just read them, they are still the same rules, its all about just applying it and following it.

to answer ur questions about the 4 hr or daily. It dosent matter as long as your focus is on one tf you can do both.
  • #9,590
  • Oct 19, 2009 1:41pm Oct 19, 2009 1:41pm
  •  kean
  • | Joined Sep 2008 | Status: James16group Lifetime Member | 92 Posts
Quoting IliaM
hey guys.

if you want exact details of how Jacko trades please then visit his website and sign up for the group.

Second of all stop complaining that he dosent reply here as much. The man is busy he has a fund plus 2 groups that he needs to update before he posts here.

the rules of trading are outlined in first page. just read them, they are still the same rules, its all about just applying it and following it.

to answer ur questions about the 4 hr or daily. It dosent matter as long as your focus is on one tf you can do both.
So...does that mean that you don't know why Jacko is still trading the 4h charts? I do understand the rules of trading outlined in the first page etc. Jacko moved to the 4 hour charts because the markets became more volatile. Now that the markets have become less volatile he has not moved back to daily charts. I just want to know why? Surely I shouldn't have to sign up and pay $700 in order to find the answer to this question!
Kean
  • #9,591
  • Oct 19, 2009 3:33pm Oct 19, 2009 3:33pm
Confusion can occur when the actual trades taken deviate away from the method outlined on Page 1.
And as for drawing resistance lines which are the length of half a dozen 4 hour bars or so, I mean, strewth! Lets get back on plan.
300 period chart-plot the lines.
Simples.
  • #9,592
  • Oct 19, 2009 8:50pm Oct 19, 2009 8:50pm
Quoting Interceptor
Confusion can occur when the actual trades taken deviate away from the method outlined on Page 1.
And as for drawing resistance lines which are the length of half a dozen 4 hour bars or so, I mean, strewth! Lets get back on plan.
300 period chart-plot the lines.
Simples.

KISS.
  • #9,593
  • Oct 20, 2009 2:57am Oct 20, 2009 2:57am
Fiber on the daily seems much clearer than on the 4 hourly.
Attached Image(s) (click to enlarge)
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  • #9,594
  • Oct 20, 2009 3:22am Oct 20, 2009 3:22am
Quoting Interceptor
Fiber on the daily seems much clearer than on the 4 hourly.
Still inside a heavy uptrend channel that started March this Year. No signs of reversal yet.
  • #9,595
  • Oct 20, 2009 8:05am Oct 20, 2009 8:05am
Quoting kean
So...does that mean that you don't know why Jacko is still trading the 4h charts? I do understand the rules of trading outlined in the first page etc. Jacko moved to the 4 hour charts because the markets became more volatile. Now that the markets have become less volatile he has not moved back to daily charts. I just want to know why? Surely I shouldn't have to sign up and pay $700 in order to find the answer to this question!
Kean
jacko is still trading the 4 hour,he was going to change back to daily but not done so yet,he is also breaking alot of his trading rules set out on the first page you might have to email him for his reasons,he wont post on here after the thread was moved
student
  • #9,596
  • Oct 20, 2009 12:11pm Oct 20, 2009 12:11pm
I am long from 1.49000 as price made a retrace a bit past 61.8 fib on 4h last low and high. However it bothers me a bit, because 1.5 is roundier than the other round numbers. Are there any traders who are long at this time
  • #9,597
  • Oct 20, 2009 1:07pm Oct 20, 2009 1:07pm
Quoting Ellipsis
I am long from 1.49000 as price made a retrace a bit past 61.8 fib on 4h last low and high. However it bothers me a bit, because 1.5 is roundier than the other round numbers. Are there any traders who are long at this time
When it breaks 1.5 it could really move. The question is when will it break (Thurs-Fri my guess) and how far will it go till it retraces. There is room to move both ways in the current trend channel.
Attached Image (click to enlarge)
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  • #9,598
  • Oct 20, 2009 1:59pm Oct 20, 2009 1:59pm
Price seems to have reacted at the area in which my steeper trendline was drawn(see earlier post 9597).
I'd be a whole lot happier if it hadn't missed picking my order up by 2 pips!
Attached Image (click to enlarge)
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  • #9,599
  • Oct 21, 2009 2:19am Oct 21, 2009 2:19am
So far this has been a 70 pip bounce.
The one thing which must be strived for in trading is consistency. We must see, and criticise, support and resistance lines equally.
It is utterly pointless drawing a very short, steep resistance line one day, and trading off it, but then a few days later ignoring a longer, stronger support line on the pretext that it is too short and/or steep.
Have a plan and trade it.
Otherwise you are entering discretionary trading Hell.
Simples.
  • #9,600
  • Oct 21, 2009 3:10am Oct 21, 2009 3:10am
I would like to say a bundle of thanks to Mr. JACKO for starting this great thread and sharing his pearls of wisdom with all of us. I have just read some 20 odd pages and can't wait to finish reading the whole thread as its already helping me a great deal! Would also like to thank all the posters who made very useful contribution in this thread.

May you all have a wonderful Trading Career!!! Thank you JACKO once again!!
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