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Jacko's Forex House of Pleasure and Pain

  • #9,701
  • Nov 2, 2009 2:46am Nov 2, 2009 2:46am
Quoting forexmick
After trading with Jacko's group for eight months, I have finally taken the step of becoming a fulltime trader. I have made a sizable bucket of money in the last 8 months and now I have given myself 6 months to take this further and prove to myself that I can do this as a career.
Thanks for the support and guidance of Jacko, fxtrader29, coscorp and the other members that post here. My big adventure starts today.
Welll done forexmick, i have been a member for about 5 months and i am still trying to build a large enough account to trade full time. Are you only trading eur/usd or applying this meathod to other pairs.
Hope all goes well.
  • #9,702
  • Nov 2, 2009 2:08pm Nov 2, 2009 2:08pm
Quoting speedtrip
Hi, i see where you are coming from, just bear in mind that while the overall trend may be up there is downward pressure in the short term.

Since finding support end of last week @ 1.477 price has not been able to break 1.48591 and is making LHs

Watch the 1.477 support line very carefully if you are trading the bounces as you may find it reverses on you.

Regards

ST
Price also made a high on the 23rd September. It then rallied again for the next upwards wave. It is an utterly pointless exercise trying to 'guess' whether the trend has changed or otherwise. The charts will tell you when this has happened.
Trade what you see-NOT what you 'think'.
  • #9,703
  • Nov 2, 2009 4:29pm Nov 2, 2009 4:29pm
Quoting Interceptor
Price also made a high on the 23rd September. It then rallied again for the next upwards wave. It is an utterly pointless exercise trying to 'guess' whether the trend has changed or otherwise. The charts will tell you when this has happened.
Trade what you see-NOT what you 'think'.
Wise words. Why take the unnecessary risk? The charts indicate the action in time.
  • #9,704
  • Nov 2, 2009 5:21pm Nov 2, 2009 5:21pm
That bearish candle wick on the 4H is bad news for the long term E/U bulls no matter how you slice it (at least for the next weeks). It is a rare occurance to see forthcoming candles overshoot such a formation (only in highly volatile markets).

On the 1H, that candle's tip bounces right off of the 1H 200 MA.

Unless you bought at 1.4700, stand aside.


http://i36.tinypic.com/4ihhjb.png

http://i37.tinypic.com/24m5geo.png
  • #9,705
  • Nov 2, 2009 6:02pm Nov 2, 2009 6:02pm
fxterrapin,
Which broker do you use to get that chart time since the time just changed?

thanks.
  • #9,706
  • Nov 2, 2009 6:42pm Nov 2, 2009 6:42pm
i got in at 1.4750 with trailing stop loss of 50 pips. i was stopped out for an 8 pip loss, disheartnening to see a win turn into a loss. I should have gotten in at 1.4700 that is what the rules states. price retraced to 1.4700 and then went up a few pips. i should have got in at 1.470+ not 1.4750 im dissapointed.
  • #9,707
  • Nov 2, 2009 7:55pm Nov 2, 2009 7:55pm
Quoting jacko
Hi cologg,

I have just re-read your post and realised that I hadn't answered your question properly. (Sorry but I was a bit distracted earlier).

Waiting for the retrace to 50% was certainly an option that I could have taken but I was thinking that 1.3650 would hold strong. If 1.3650 does hold strong (and I am not stopped out at 1.3600) then I have made the right decision.

If it blows through 1.3600, then I will have been wwwwwrong and i will then evaluate whether:
1. To go long again at 1.3550 (50% Fib)
2...
why not apply anti-hedge in this situation and go long at 1.3600 again?
  • #9,708
  • Nov 2, 2009 8:32pm Nov 2, 2009 8:32pm
Quoting MoreYummy
fxterrapin,
Which broker do you use to get that chart time since the time just changed?

thanks.

Hi,

FxPro
  • #9,709
  • Nov 3, 2009 6:22am Nov 3, 2009 6:22am
Hi Interceptor and thanks for your input.

Price has moved below 1.470 again and perhaps more significantly below 1.4650 although it is now retracing.

This could be a progressive move down and 1.46 and lower could come into play.

I am sitting on my hands and awaiting developments.

Regards

ST

Quoting Interceptor
Price also made a high on the 23rd September. It then rallied again for the next upwards wave. It is an utterly pointless exercise trying to 'guess' whether the trend has changed or otherwise. The charts will tell you when this has happened.
Trade what you see-NOT what you 'think'.
" Dont wait for your boat to come in ..... swim out and meet it"
  • #9,710
  • Nov 3, 2009 8:58am Nov 3, 2009 8:58am
I'm a little surprised that 4450 isn't getting 'mentioned'.
Looks interesting to me.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusddaily.gif Size: 26 KB
  • #9,711
  • Nov 3, 2009 6:21pm Nov 3, 2009 6:21pm
Anyone long from 1.4650 area?
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-11-03_1813.png Size: 27 KB
  • #9,712
  • Nov 3, 2009 6:48pm Nov 3, 2009 6:48pm
Quoting fxnoob08
no disrespect but is jacko really legit? no disrespect but i've been scammed and burned so many times i am naturally a little distrustful when it comes to shelling out such a large ammount of money..im so paranoid that im thinking even newbietrader01 who claimed to have visited might be lying.

anyway..how does jacko plot his 50% fib everyone and their dogs does it differently.

and i've got a buy order at 1.4753, should the stop loss be 1.4703 or a little below 1.4700

thanks to all..and again no disrespect meant to jacko.
He is legit. Look at my posts above (http://www.forexfactory.com/showpost.php?p=3197379&postcount=9696).
Why did you buy at 1.4753? I can't see any reason for that trade. Or did you like the numbers 4,7 5 and 3?
  • #9,713
  • Nov 3, 2009 6:56pm Nov 3, 2009 6:56pm
Quoting Interceptor
I'm a little surprised that 4450 isn't getting 'mentioned'.
Looks interesting to me.
Because of the high of 4th August and low of 1st October?
  • #9,714
  • Nov 3, 2009 11:55pm Nov 3, 2009 11:55pm
Quoting fxnoob08
no disrespect but is jacko really legit? no disrespect but i've been scammed and burned so many times i am naturally a little distrustful when it comes to shelling out such a large ammount of money..im so paranoid that im thinking even newbietrader01 who claimed to have visited might be lying.

anyway..how does jacko plot his 50% fib everyone and their dogs does it differently.

and i've got a buy order at 1.4753, should the stop loss be 1.4703 or a little below 1.4700

thanks to all..and again no disrespect meant to jacko.
He is definitly NOT a scam. The cost is laughably small for what you get.
  • #9,715
  • Nov 3, 2009 11:57pm Nov 3, 2009 11:57pm
Quoting forexmick
After trading with Jacko's group for eight months, I have finally taken the step of becoming a fulltime trader. I have made a sizable bucket of money in the last 8 months and now I have given myself 6 months to take this further and prove to myself that I can do this as a career.
Thanks for the support and guidance of Jacko, fxtrader29, coscorp and the other members that post here. My big adventure starts today.
Nice work forexmick. I want that we will all get there.
  • #9,716
  • Nov 4, 2009 12:00am Nov 4, 2009 12:00am
Quoting Interceptor
I'm a little surprised that 4450 isn't getting 'mentioned'.
Looks interesting to me.
Interceptor. what is special about 4450. I can't see what you are trying to show.
  • #9,717
  • Nov 4, 2009 12:52am Nov 4, 2009 12:52am
guys, never doubt about jacko's ability, he is definately professional on his trading. recently he switched to longer time frame trading.. cheers
Trading Forever !!!
  • #9,718
  • Nov 4, 2009 2:22am Nov 4, 2009 2:22am
Quoting daringdave
Interceptor. what is special about 4450. I can't see what you are trying to show.
Couple of screenshots, newest first:
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusddaily.gif Size: 27 KB
Click to Enlarge Name: eurusddailyold.gif Size: 24 KB
  • #9,719
  • Nov 4, 2009 2:54am Nov 4, 2009 2:54am
1.4450 or thereabouts is a s/r line. i guess ic means that price could fall to that level.

Quoting daringdave
Interceptor. what is special about 4450. I can't see what you are trying to show.
  • #9,720
  • Nov 4, 2009 9:48am Nov 4, 2009 9:48am
i got stopped out based on jacko's signal.
:/
anyone too?
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