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Jacko's Forex House of Pleasure and Pain

  • #10,081
  • Dec 28, 2009 7:32pm Dec 28, 2009 7:32pm
Quoting bboyomega83
were looking for entries to go short. On the daily chart it has broken the upwards trendline sharply with small retraces if any. I understand what your saying with the weekly being in a retracement period. What you can do is trade short on the daily until you think we have reached a strong support area (ex. 50% fib) on the weekly and wait to see what price will do from there
Thanks alot for the help!
  • #10,082
  • Dec 28, 2009 8:52pm Dec 28, 2009 8:52pm
oh yeh great idea, that's the answer i was looking for thankyou!
  • #10,083
  • Dec 28, 2009 9:52pm Dec 28, 2009 9:52pm
Quoting Fx_Genius

My thoughts are that after a big retreat that we had I am waiting for 1.47 (.5 fib, even #) before I go long.
fxgenious, dont you mean go short? @ 1.47
Whats happening in EUR/USD should be happening to you!
  • #10,084
  • Dec 29, 2009 1:01am Dec 29, 2009 1:01am
Quoting bboyomega83
were looking for entries to go short. On the daily chart it has broken the upwards trendline sharply with small retraces if any. I understand what your saying with the weekly being in a retracement period. What you can do is trade short on the daily until you think we have reached a strong support area (ex. 50% fib) on the weekly and wait to see what price will do from there
i am ready for 1.47
  • #10,085
  • Dec 29, 2009 6:17am Dec 29, 2009 6:17am
Quoting BullsAndBear
fxgenious, dont you mean go short? @ 1.47
Nope. But I could be wroonnggg.
  • #10,086
  • Dec 29, 2009 4:35pm Dec 29, 2009 4:35pm
Quoting jacko
As another successful trading year inches nearer to a close, we should all be thankful for the opportunity that we all have as traders. In this industry we have many reasons to be thankful for everything that has been given to us.

Firstly, I am thankful for finding this extraordinary business of forex trading where there is incredible flexibility in establishing, running and financing the business.
Given the huge leverage in this business, anyone can enter the industry and establish a trade... and establish their subsequent...
A belated Merry Xmas and a happy New Year to you Jacko and the rest of the group.
Thanks for everything that you have done for us in 2009. My family thanks you from the depths of our hearts
  • #10,087
  • Dec 29, 2009 5:56pm Dec 29, 2009 5:56pm
Quoting jacko
As another successful trading year inches nearer to a close, we should all be thankful for the opportunity that we all have as traders. In this industry we have many reasons to be thankful for everything that has been given to us.
.
Jacko - appreciate the sentiment and your willingness to share your time & wisdom - thanks...
  • #10,088
  • Dec 30, 2009 7:12pm Dec 30, 2009 7:12pm
I hope everyone had a great 2009 and will have a fantastic 2010

A thank you to Jacko for sharing!
Everyone who helped me, Thank you too!

BR
  • #10,089
  • Dec 31, 2009 10:08am Dec 31, 2009 10:08am
Hello Jacko! I would like to wish you and Mrs. Jacko all the best in 2010. Your thread was one of the first I read on FF and I am truly grateful for the time that you have taken to share your experience and insight. The simplicity of your approach is a beacon of light in the dark waters that all new forex traders navigate. I am a better trader because of your generosity.

Warm Regards-

K.I.S.S.
  • #10,090
  • Dec 31, 2009 11:09pm Dec 31, 2009 11:09pm
Quoting KissFan
Hello Jacko! I would like to wish you and Mrs. Jacko all the best in 2010. Your thread was one of the first I read on FF and I am truly grateful for the time that you have taken to share your experience and insight. The simplicity of your approach is a beacon of light in the dark waters that all new forex traders navigate. I am a better trader because of your generosity.
Warm Regards-
K.I.S.S.
DITTO.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #10,091
  • Jan 1, 2010 2:32am Jan 1, 2010 2:32am
I have been reading this thread for quite a while now and have read jackos trading strategy 100times over but there is still one thing im not sure of....

in the pdf document outlining his strategy (which i found most helpful ) as i dont really understand what everyone is doing in this thread with all the random charts and what not)

How does he enter.
I know with the main trend and round number 50 fib etc but does he wait for a break of a round number of 20 pips or so then wait for it push back up above the round number and put a buy or sell stop in place to have the momentum pushing through? Obviously there is no pa being traded as such more just waiting for price to pierce a key level he uses.

It was mentioned in the pdf doc but the person who wrote it wasnt 100% sure either.

example being my artistic picture i made lol
im a visual learner i like to see things hence why i may be having some trouble understanding

well if anyone could shed some light id appreciate it thankyou
Attached Image (click to enlarge)
Click to Enlarge Name: jacko.gif Size: 10 KB
  • #10,092
  • Jan 1, 2010 3:08pm Jan 1, 2010 3:08pm
Quoting KissFan
Hello Jacko! I would like to wish you and Mrs. Jacko all the best in 2010. Your thread was one of the first I read on FF and I am truly grateful for the time that you have taken to share your experience and insight. The simplicity of your approach is a beacon of light in the dark waters that all new forex traders navigate. I am a better trader because of your generosity.

Warm Regards-

K.I.S.S.
Jacko. Even tho i am not a member of your group, i respect and appreciate what you have done for the FF. I believe that you are one of only a few truly succesfull traders here and I always read your posts. Please post here more often. All the best in 2010
  • #10,093
  • Jan 2, 2010 3:00pm Jan 2, 2010 3:00pm
  •  Kokan
  • | Joined Mar 2007 | Status: Should I stay, or should I go | 73 Posts
Quoting supermatt
I have been reading this thread for quite a while now and have read jackos trading strategy 100times over but there is still one thing im not sure of....

in the pdf document outlining his strategy (which i found most helpful ) as i dont really understand what everyone is doing in this thread with all the random charts and what not)

How does he enter.
I know with the main trend and round number 50 fib etc but does he wait for a break of a round number of 20 pips or so then wait for it push back up above the round number and put a buy or sell stop...
How does he enter.
He watch carefully the market at the levels of round numbers, 50% fibo and trend line.
For example, if trend line is near round number that is his entry point with 100 pips stop loss. Same for 50%.
He does not enter at non round numbers. Most of hes entry's are at 00 or 50.

As for trend lines just link latest highs and lows, than try to predict where price could retrace using round numbers and 50% fibo.

Hope this was helpful.
  • #10,094
  • Jan 2, 2010 3:17pm Jan 2, 2010 3:17pm
yeah i know he enters at rounds, tl, 50 fibs but surely he just doesn't enter blindly was my question. That is fine to mention all of this in this thread but as i was saying it doesnt really provide any guide as to how to get in. If i got in at everytime a round number was hit blindly i would imagine i would have lost quite abit of money.


It would seem more logical for him or anyone to wait for the round number fib or whatever to be pierced by 20 pips or so then place a buy or sell stop above the round etc so you can gain the momentum going up.

as mentioned in the pdf doc its like a security pip amount. you let 20 or 30 pips go just so you know what price will do. If not then he just waits for the next level and see what reaction takes place there.

thanks again.
  • #10,095
  • Jan 3, 2010 3:22pm Jan 3, 2010 3:22pm
Quoting supermatt
yeah i know he enters at rounds, tl, 50 fibs but surely he just doesn't enter blindly was my question. That is fine to mention all of this in this thread but as i was saying it doesnt really provide any guide as to how to get in. If i got in at everytime a round number was hit blindly i would imagine i would have lost quite abit of money.


It would seem more logical for him or anyone to wait for the round number fib or whatever to be pierced by 20 pips or so then place a buy or sell stop above the round etc so you can gain the momentum going...
He does not use the round numbers by themselves. He uses them together with the confluence of support and resistance lines and 50% fibs.
  • #10,096
  • Jan 3, 2010 3:39pm Jan 3, 2010 3:39pm
lol ok first of all thankyou for your answers guys but it hasnt really answered my question at all, seems I am fully aware of what levels he uses such as tl 50 fib rounds and uses them as confluence etc. Its still very vague those answers...

What i want answered was what my picture demonstrated....

soooo take 3..

does he wait for whatever level he is watching to get pierced by X amount of pips then places a buy stop or sell stop order in the direction of the trend so when his order is triggered he has some momentum behind it... as jacko would rather wait to see how a level reacts first rather than just seeing price kiss a round number fib or whatever and just get in blindly.
????


scroll up i have that picture. yes i know its based on round numbers i just wanted to show an example of what i want clarified.

thankyou again!
  • #10,097
  • Jan 3, 2010 9:08pm Jan 3, 2010 9:08pm
Quoting supermatt
lol ok first of all thankyou for your answers guys but it hasnt really answered my question at all, seems I am fully aware of what levels he uses such as tl 50 fib rounds and uses them as confluence etc. Its still very vague those answers...

What i want answered was what my picture demonstrated....

soooo take 3..

does he wait for whatever level he is watching to get pierced by X amount of pips then places a buy stop or sell stop order in the direction of the trend so when his order is triggered he has some momentum behind it... as jacko would...

no i m quite sure he enters at the round number. what's wrong with that. as he say himself he is using the market's money to make more money! that's e wonder.

and I feel personally that jacko knows the fundamentals. i m not so sure about the confluence, but as he says in this thread, as long as the trend is correct you will make money. as easy as that. so he has a strong view of the trend and that's what will make money
  • #10,098
  • Jan 3, 2010 9:40pm Jan 3, 2010 9:40pm
Hello Supermatt,

Where can I find Jacko's stratergy PDF document??? will really appreciate the help...

Thanks.
Quoting supermatt
yeah i know he enters at rounds, tl, 50 fibs but surely he just doesn't enter blindly was my question. That is fine to mention all of this in this thread but as i was saying it doesnt really provide any guide as to how to get in. If i got in at everytime a round number was hit blindly i would imagine i would have lost quite abit of money.


It would seem more logical for him or anyone to wait for the round number fib or whatever to be pierced by 20 pips or so then place a buy or sell stop above the round etc so you can gain the momentum going...
  • #10,099
  • Jan 3, 2010 10:25pm Jan 3, 2010 10:25pm
Quoting supermatt
lol ok first of all thankyou for your answers guys but it hasnt really answered my question at all, seems I am fully aware of what levels he uses such as tl 50 fib rounds and uses them as confluence etc. Its still very vague those answers...

What i want answered was what my picture demonstrated....

soooo take 3..

does he wait for whatever level he is watching to get pierced by X amount of pips then places a buy stop or sell stop order in the direction of the trend so when his order is triggered he has some momentum behind it... as jacko would...


Ive been able to trade along side Jacko and i think the answer you are looking for is how he enters at the levels he is looking at. Its good you know how to arrive at the levels he does. the 50 fib with round numbers. He thnks like the big boys do and thats what he tries to get us to look at. The actual entry is based on price action once that level is touched. By examination of a 4hr chart, daily chart, and sometimes, but not lately i dont think, a 1hour chart.

So we are trading in the direction of the trend we hit our retracement level, then next we look for weakness, or strength to continue the trend direction.
Jacko is incredibly keen and has almost a 6th sense feel of where the market will be going. BUT, by seeing him make the calls and watching the charts right after, it becomes apparent why the trades are taken.

good luck
bulls
Whats happening in EUR/USD should be happening to you!
  • #10,100
  • Jan 3, 2010 10:28pm Jan 3, 2010 10:28pm
Quoting freetv_king
Hello Supermatt,

Where can I find Jacko's stratergy PDF document??? will really appreciate the help...

Thanks.

Dont leave home without it.
Attached File(s)
File Type: pdf Jacko trading style.pdf   144 KB | 1,414 downloads
Whats happening in EUR/USD should be happening to you!
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