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Jacko's Forex House of Pleasure and Pain

  • #10,561
  • Mar 5, 2010 12:28am Mar 5, 2010 12:28am
Quoting daringdave
Nobody can be negative about jacko because he does not lose money.
I emailed him last week and he had slowed his trading down over the last three months because of a family sickness issue. (Mrs Jackson's mum) He went back to America two weeks ago to finalise everything. He is now back to trading this week.

He has made money every quarter since he started trading back in 2005. This person (http://www.forexfactory.com/member.php?u=98963) did a check on him and I can confirm those results too.
http://www.forexfactory.com/showpost.php?p=3011445&postcount=472...
facts are wrong again dave.ur figures are way out jacko does not have to come on here because you and forexmick do all the marketing for him
student
  • #10,562
  • Mar 5, 2010 12:36am Mar 5, 2010 12:36am
Quoting fxprocessor
Very true. This trading method did well during the big uptrend in EU. It's not quite so easy now.
so true even jacko would be the first to tell you so poor guys having a very long nightmare trying to trade this method when others are cleaning up
student
  • #10,563
  • Mar 5, 2010 12:48am Mar 5, 2010 12:48am
Quoting garrye
so true even jacko would be the first to tell you so poor guys having a very long nightmare trying to trade this method when others are cleaning up
The method is sound, I think what you are trying to say is, it was poorly executed.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #10,564
  • Mar 5, 2010 1:13am Mar 5, 2010 1:13am
Quoting LasVahGoose
The method is sound, I think what you are trying to say is, it was poorly executed.
yes 100% agree with you lasvah poorly executed such a shame
student
  • #10,565
  • Mar 5, 2010 5:07pm Mar 5, 2010 5:07pm
Quoting mongreldog66
I have learned about patience and that the market will always be there 24/7 and there is no need dive into every possible trade Also the power of leverage and the profit and damage that it can cause. Also the advantages of the liquidness of the forex markets to be in and out of trades. I...

Congrats Mongreldog on this .
  • #10,566
  • Mar 5, 2010 5:10pm Mar 5, 2010 5:10pm
Quoting mongreldog66
I did not join only for his signals. I joined because I wanted to learn how to make a career out of this forex trading. He even warned me before I joined that he is not a signal seller and that the trades he was SMSing to the traders were only his own trades. He warned me that if I did not want to learn how to trade but only wanted to follow his signals, then he didn't want me in the group....
And this too
  • #10,567
  • Mar 6, 2010 12:42pm Mar 6, 2010 12:42pm
The guy who makes money is always happy and doesn't complaint, doesn't blame someone else either, and only 1% of Big successful trader visit this forum for to help newbie. 99% people who visit here are all loosing money and they are looking for better systems and knowledge to be successful trader.So if you guys who are talking negetive about Jacko, why don't you make one nice thread and teach newbie if you are good trader? instead of talking bad thing about some else?I don't wanna put here everything whatever he made money from 2005 since I known him, it's not nice to him, BUT I LIKE HIM, I RESPECT HIS KNOWLEDGE AND HIMSELF ALSO I DON'T CARE YOU GUYS TRUST ME OR NOT BUT I MUST SAY THAT MR. JACKSON WAYNE IS BIG GURU AND HE IS MY LIFE.happy trading guys.
  • #10,568
  • Mar 6, 2010 1:33pm Mar 6, 2010 1:33pm
I think the best way to show respect to Jacko in his own thread that his students (paid or non-paid) discuss their trades here and help newbies to learn trading for the sole reason the thread was created, in my opinion. It does not help by bashing some one or by worshipping either..

FX_California
Quoting Nagen
The guy who makes money is always happy and doesn't complaint, doesn't blame someone else either, and only 1% of Big successful trader visit this forum for to help newbie. 99% people who visit here are all loosing money and they are looking for better systems and knowledge to be successful trader.So if you guys who are talking negetive about Jacko, why don't you make one nice thread and teach newbie if you are good trader? instead of talking bad thing about some else?I don't wanna put here everything whatever he made money from 2005 since I known...
  • #10,569
  • Mar 6, 2010 3:33pm Mar 6, 2010 3:33pm
Quoting FX_California
I think the best way to show respect to Jacko in his own thread that his students (paid or non-paid) discuss their trades here and help newbies to learn trading for the sole reason the thread was created, in my opinion. It does not help by bashing some one or by worshipping either..

FX_California

I am not a Jacko member but I respect that the man showed all of his system on the front page of this thread and his live trading both on this forum and on another forum for 6 months and more. He is an extraordinary trader over a very long time if his supporters are saying that he has been a winner trader every quarter year since 2005.
Even his most noisy critics are not saying that he has not been profitable every quarter. They are now simply arguing about the size of his profits.

He has placed his system front and centre so that everyone can use it free of charge. He has done live trading for all to see. He has answered his critics until he got fed up and now returns only occasionally.
It is a pity that when a real trader comes to the forums and shows how he trades, every little frustrated wannabe trader picks and picks at them until they say "F*#k it" and leaves.
  • #10,570
  • Mar 6, 2010 9:09pm Mar 6, 2010 9:09pm
Quoting cyberfx
I am not a Jacko member but I respect that the man showed all of his system on the front page of this thread and his live trading both on this forum and on another forum for 6 months and more. He is...

What a shame!
http://cdn.forexfactory.com/images/icons/icon9.gif

I'd love to learn this system, practice it and discuss it with those who are also using it.
What you do is a reflection of you....what I do is a reflection of me.
  • #10,571
  • Mar 7, 2010 1:11am Mar 7, 2010 1:11am
Quoting Ezzy
What a shame!
http://cdn.forexfactory.com/images/icons/icon9.gif

I'd love to learn this system, practice it and discuss it with those who are also using it.
Hope the latter discussion has ended.

I am patiently waiting for some clear PA on the weekly. If it retraces up, it will give me enough space to trade.

If it goes down (break of fib line), well, down we go. I just want to get a bit more clear picture, maybe this week, who knows, but as soon as I see it, i will put a small bait on it. and if the movement is confirmed, will add to my positions on retraces.

Have a nice day
  • #10,572
  • Edited 9:01am Mar 7, 2010 8:01am | Edited 9:01am
From a hopefully neutral perspective: I joined in February and am still reading through the blog (I'm still in August 2008). Personally I think the most valuable thing so far has been learning patience for the right setup, and learning from his losses. Obviously I've got hindsight, but it's helpful to go through his losses and see how they could have been avoided. I personally wouldn't trade his style as it is, simply because I like to eliminate risk earlier even if it means more BE's, and I'm not adverse to taking a profit when it approaches a resistance level as opposed to giving up a whole hundred pips to my TSL. However I feel my trading and attitude has already improved from his blog. There are lots of valuable things to learn from him, and although they certainly can be learned elsewhere, it helps me to see someone else actually do it rather than just read about the idea. That being said, he is overall profitable and even if he makes "only" 1000 pips in a year (a figure which I'm taking from other people's posts), if he trades at 200 contracts, that's USD 2 million in a year.
  • #10,573
  • Mar 7, 2010 3:53pm Mar 7, 2010 3:53pm
Quoting JustPassing
Hope the latter discussion has ended.

I am patiently waiting for some clear PA on the weekly. If it retraces up, it will give me enough space to trade.

If it goes down (break of fib line), well, down we go. I just want to get a bit more clear picture, maybe this week, who knows, but as soon as I see it, i will put a small bait on it. and if the movement is confirmed, will add to my positions on retraces.

Have a nice day
Hi JP

It's great to discuss trading again in this thread.

So, if I understand it correctly, we wait for a 50% retracement and some clear PA to open short, however if we have clear PA breaking the current 0 fib line / support, we also look to go down.

Do I understand this correctly?

Cheers mate

Ezzy
What you do is a reflection of you....what I do is a reflection of me.
  • #10,574
  • Mar 7, 2010 11:13pm Mar 7, 2010 11:13pm
Quoting Ezzy
Hi JP

It's great to discuss trading again in this thread.

So, if I understand it correctly, we wait for a 50% retracement and some clear PA to open short, however if we have clear PA breaking the current 0 fib line / support, we also look to go down.

Do I understand this correctly?

Cheers mate

Ezzy

Set up your charts on the Daily. The trend is down
Draw a line connecting up the highs from 5109 and 4579. See the line? That is your resistance line.
The euro is attempting to get to that resistance line. When it does, the system says sell.
If you are buying on the hope that the Euro is going to get to the line, you are trading counter trend.
Other jacko members can add to this.
  • #10,575
  • Mar 7, 2010 11:21pm Mar 7, 2010 11:21pm
Quoting Ezzy
Hi JP

It's great to discuss trading again in this thread.

So, if I understand it correctly, we wait for a 50% retracement and some clear PA to open short, however if we have clear PA breaking the current 0 fib line / support, we also look to go down.

Do I understand this correctly?

Cheers mate

Ezzy

Don't bother asking Jacko, I am a member of his private group and asked Jacko a question about the PA in his decision of setting a sell order at 1.3650, even put a chart in the email. It is now 5 days later and still no reply!




-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
If you don't mind I would like to ask about the PA that leaned you towards making the short at 1.3650.
Looking at this daily chart, I notice we have an IB4 with a bearish engulfing outside bar after which, price bounced off the 1.3436 and is now showing us that it could not break the resistance of 1.3653 which is the high of the BEOB. I am wondering if this was the PA you mention?




Thanks in advance
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Starting to see instead of just looking.
  • #10,576
  • Mar 7, 2010 11:30pm Mar 7, 2010 11:30pm
i do agree that the trendline mentioned is a good one, i also think jacko traders would be keeping an eye on the obvious fib retrace of this latest move as a touch of that trendline isnt really a substantial retrace and could be a risky spot to sell.

the 50 % is at 1.40 from point a at 1.457 and b at 1.344
  • #10,577
  • Mar 7, 2010 11:51pm Mar 7, 2010 11:51pm
Quoting zarraman
Set up your charts on the Daily. The trend is down
Draw a line connecting up the highs from 5109 and 4579. See the line? That is your resistance line.
The euro is attempting to get to that resistance line. When it does, the system says sell.
If you are buying on the hope that the Euro is going to get to the line, you are trading counter trend.
Other jacko members can add to this.

How come you are using 1.5109 as the start of this trend line instead of 1.5140?

It was my impression that a peak for a trend line has to have a low on each side of it?
Attached Image (click to enlarge)
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Starting to see instead of just looking.
  • #10,578
  • Mar 8, 2010 12:24am Mar 8, 2010 12:24am
Quoting zarraman
Set up your charts on the Daily. The trend is down
Draw a line connecting up the highs from 5109 and 4579. See the line? That is your resistance line.
The euro is attempting to get to that resistance line. When it does, the system says sell.
If you are buying on the hope that the Euro is going to get to the line, you are trading counter trend.
Other jacko members can add to this.
Thanks Zarraman, surprisingly enough, I already had that line as you indicated, as you suggested we'll wait for a few more days until we reach it. Then I guess we start to look for a sell?

Cheers
What you do is a reflection of you....what I do is a reflection of me.
  • #10,579
  • Mar 8, 2010 12:57am Mar 8, 2010 12:57am
Looks like we might not have to wait too long before we get a sell signal.......though the weekly TF worries me.........see chart...sorry about all the line........the biggher TL is the one everyone is talking about................i also have a smaller TL off the 4-hr chart.....cheers
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  • #10,580
  • Mar 8, 2010 1:15am Mar 8, 2010 1:15am
Quoting Danku
Looks like we might not have to wait too long before we get a sell signal.......though the weekly TF worries me.........see chart...sorry about all the line........the biggher TL is the one everyone is talking about................i also have a smaller TL off the 4-hr chart.....cheers
Zooming out the weekly, trend seems to be still going up.
What you do is a reflection of you....what I do is a reflection of me.
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