Jacko's Forex House of Pleasure and Pain | Page 532 | Forex Factory

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Jacko's Forex House of Pleasure and Pain

  • #10,621
  • Mar 22, 2010 3:51pm Mar 22, 2010 3:51pm
Quoting TGpop
im shorting eurusd now, looks like it needs a little bounce but im happy to sit through a little pain, hope it can power down through this choppy box we've been in for a while , aiming for 1.31

Hi TGpop,


I not too sure which retracement level you are entering off , as we are currently in a Demand zone ( take a look at the Looooong Legged 4 hour candle ) well good luck, I hope you get out on the winning side.

Regards,

BabeFX
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  • #10,622
  • Mar 22, 2010 3:54pm Mar 22, 2010 3:54pm
i agree with you,. that's clearly a reversal candle and i have no doubt it will pop up a little, but the dailies have a big trendline resistance in an established downtrend so im roughly shorting, i probably should use more limit orders....

good luck
  • #10,623
  • Mar 22, 2010 7:16pm Mar 22, 2010 7:16pm
i also vouch for him , same story , turned all around in my trading

thanks for sharing mick
Quoting forexmick
This is MY experience with Jacko.
I had a big A HA moment 12 months ago when I decided I needed some external and impartial help. I wasted 12 months before that, fookin around trying to get it all sorted in my head.
My advice is to find a professional trader like Jacko that shows you all his trading. Get to know his system. Watch the system in action. Ask question after question after question after question, until you can do it on your own successfully. I turned my trading completely around and became profitable. After getting consistent...
  • #10,624
  • Mar 22, 2010 11:32pm Mar 22, 2010 11:32pm
Quoting BabeFX
Hi DuPont, ...
I don't know where you get the 1.4300 region from, but the 1.3700 level looks tasty to me.
  • #10,625
  • Mar 23, 2010 2:44am Mar 23, 2010 2:44am
Quoting zarraman
I don't know where you get the 1.4300 region from, but the 1.3700 level looks tasty to me.

Hi there zarraman,

1.3700 would rely on the price staying within the downtrend line.

1.4300 is outside this line and is around the 50% retracement drawn from 1.5143 to the recent low at 1.3434.


Regards,

BabeFX
  • #10,626
  • Mar 23, 2010 5:24am Mar 23, 2010 5:24am
Quoting BabeFX
Hi DuPont,

Thank you for explanation.

So if we are all trading Jacko style the safest place to look for our next short opportunity would be in the region of 1.4300

However, there will persons with a hunger to trade who will not want to wait patiently for this level and will be looking for an area to trade around 1.3650 to 1.3700 these two levels being approx 50% & 61.8% retracement of the most recent swing high to swing low.
Personnally, i would be selling at the resistance line first (currently around 1.3700-1.3750).

If it doesn't work (= suffer a loss), I would be putting an Anti-Hedge.

And, if the Anti-Hedge is not triggered (= the market doesn't retrace down), i would be considering selling at the 50% fib.
  • #10,627
  • Mar 23, 2010 11:01pm Mar 23, 2010 11:01pm
[quote = daringdave; 3569922] Babefx.

The only posts that you make sarcastic or dim witted comments here in Jacko's thread. You have a sick agenda to try to discredit one of the most experienced and respected traders on the forum. It is cretins like you that make all the good traders leave the forum. You are a waste of bandwidth.
The fact remains that Jacko had correctly called 1.3520 as the target bottom since Monday ....... just when i thought you gone back under your rock. The fact remains jacko called that level but yet again made a poor entry, and missed managed the trade he could have. gone to break even but was too stuborn when the market was buying so got stopped out 100 pips for the 3rd loss in a row.the 13800 res level was a false break.did he enter no.i gained 300 pips from the move, so. dont sugar coat the facts yet again dave.now the e / u has fell from 151400 dec to 134650 thats 4 months nearly and the signals you guys are taking are making losses fact.when a trade goes against you 120 pips your in the wrong trade. not market noise.emotion keeps you in or out of a trade patients gets you in the right trade.before anyone jumps on the post ive emailed jacko and the only thing we did not agree on is the fact that i got out the 13700 trade with. 50 pips as buyers were coming in and reversed my position (ct) and rode it to 13800.he said why should he only take 50 pips with a 100 pip stop rr . can see both sides of that.now heres two traders looking at the same. charts 1 finished the week with 500 pips and 7th winning trade in a row.the other trader 100 pips lost for the week and 3rd losing trade all emotion.i hope in a years time im still winning im sure jacko will bounse back.but people. like mick and co need to stop posting false facts.its confusing to people i get aleast 4 ff members pm me every month about joining jackos group and they are confused by whats posted on here ive even joked with jacko and he says he cant belive sometimes. why i fight on here and how juvenile it is.i agree.daring dave stop acting like a minder to jacko and post only facts forexmick everyone knows you trade fulltime now and jackos turned ur life around so do the right thing and show all the newbies. what u know.zarraman stop posting jackos levels or put an explaination with the post you wont get far in ur trading if you dont understand what ur doing and taking signals only.btw im flat now waiting for p/a in the 13650-13700 to sell could take a while good trading everyonehttp://www.forexfactory.com/showthread.php?t=27286 [/ quote. (http://www.forexfactory.com/showthread.php?t=27286[/quote)].
student
  • #10,628
  • Mar 23, 2010 11:12pm Mar 23, 2010 11:12pm
Quoting zarraman
I don't know where you get the 1.4300 region from, but the 1.3700 level looks tasty to me.
you dont know anything you just post jackos levels from jackos blog.a fool and his money are easily parted
student
  • #10,629
  • Mar 23, 2010 11:15pm Mar 23, 2010 11:15pm
Quoting capitalx
Because Jacko had 1.3520 as the target for the Euro since Monday. His blog was explicit on that number and his reasons for it. You would know that if you were a member.
and you would know as a member he had a bad entry and lost again
student
  • #10,630
  • Mar 23, 2010 11:24pm Mar 23, 2010 11:24pm
Quoting iefke
i also vouch for him , same story , turned all around in my trading

thanks for sharing mick
thanks for bringing this old post up and so happy u turned ur trading around its so helpful to everyone you deserve a lollypop maybe two
student
  • #10,631
  • Mar 23, 2010 11:30pm Mar 23, 2010 11:30pm
Jacko techniques look solid. I like the whole idea of confluence. It increases your probability of scoring success.

So, i guess a trend is higher high or lower low on the right side of the chart.

Use higher timeframes. That is great.

Reading and testing this method. I appreciate this thread a lot. Many thanks.
  • #10,632
  • Mar 24, 2010 9:25am Mar 24, 2010 9:25am
Quoting jacko
This strategy was invented by me as an alternative to "hedging" which was often discussed on Forums as a panacea to a losing trade.

"Hedging " to me is simply hiding a loss under another opposite trade...and sooner or later, when the hedge comes off, there is an ugly loss exposed...I don't like that concept !!! (However, to those who use them, I say, different strokes for different folks...that is, its a personal choice).


Currently, this is what seems to happen to some Traders...

1. you put a trade on and you...
I know that he changed the stoploss to 100 pips but does he still go by the rules of once the 100 pip stoploss is triggered then let it go 50 pips before setting a new order?
  • #10,633
  • Mar 25, 2010 3:31am Mar 25, 2010 3:31am
yes
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #10,634
  • Mar 25, 2010 2:35pm Mar 25, 2010 2:35pm
Is anyone applying with moderate (or great) success Jacko's exact method to shorter time frames such as the 60m???

Sorry, but I just do not have the patience to sit around and wait for the 1 time per month where the stars are exactly aligned and a Jacko-method trade is put on.
  • #10,635
  • Mar 25, 2010 2:52pm Mar 25, 2010 2:52pm
Quoting jonpoler
Is anyone applying with moderate (or great) success Jacko's exact method to shorter time frames such as the 60m???

Sorry, but I just do not have the patience to sit around and wait for the 1 time per month where the stars are exactly aligned and a Jacko-method trade is put on.
I can't answer your question but I can assure you that there are plenty of opportunities to trade this method on H4+ just consider trading other pairs as well as EUR/USD. I know that is not strictly Jacko style but it will solve your problem without having to drop to lower, less reliable time frames.

Regards,

Dan
  • #10,636
  • Mar 25, 2010 8:43pm Mar 25, 2010 8:43pm
DanUK,

I've read a lot of your posts & they're definitely full of some great stuff. I'm mostly trading breakouts currently on GBPJPY, GBP, and EURJPY, & AUDJPY (some of the more volitile vehicles).

Which other pairs have you found to trade using the ascending or descending trend line that the Jacko method seems to be entirely reliant on??

As far as trading the s/r, I've found the horizontal support & resistance zones to be much more reliable. The rising / falling lines seem a bit more arbitrary (especially on the 60m and 240m).
  • #10,637
  • Mar 25, 2010 9:05pm Mar 25, 2010 9:05pm
Quoting jonpoler
Is anyone applying with moderate (or great) success Jacko's exact method to shorter time frames such as the 60m???

Sorry, but I just do not have the patience to sit around and wait for the 1 time per month where the stars are exactly aligned and a Jacko-method trade is put on.
i agree with danuk jon go below 4hr and the method looses its power play the s/r levels on e/u while your waiting for ur entry i find you can make 40-60 pips a day with little risk 80% of those trades are with the trend
student
  • #10,638
  • Mar 26, 2010 6:00am Mar 26, 2010 6:00am
Quoting TGpop
im shorting eurusd now, looks like it needs a little bounce but im happy to sit through a little pain, hope it can power down through this choppy box we've been in for a while , aiming for 1.31

Hi TGpop,

Looks like you are having a good trade, current retrace looks set to reach around 1.3400 to 1.3460.

Take care,


BabeFX.
  • #10,639
  • Mar 26, 2010 6:49am Mar 26, 2010 6:49am
Quoting garrye
i agree with danuk jon go below 4hr and the method looses its power play the s/r levels on e/u while your waiting for ur entry i find you can make 40-60 pips a day with little risk 80% of those trades are with the trend
I agree with you 100%. Although I've never been able to make 40-60 pips / day, at 100 - 125 / week I'm pretty happy. I was curious to see the reaction from everyone because the real Jacko-method style only seems to trigger a position once a month.

Anyone trading the method as Jacko would actually be trading would certainly have a heck of a lot of free time to sit on their hands.

What does Jacko do with himself during these long intervals between his trades????? Is he trading another method, or just content to trade on a very rare occasion??
  • #10,640
  • Mar 26, 2010 10:06am Mar 26, 2010 10:06am
Quoting BabeFX
Hi TGpop,

Looks like you are having a good trade, current retrace looks set to reach around 1.3400 to 1.3460.

Take care,


BabeFX.
i exited the trade for 230 pips and am waiting for a retrace to1.35 to short again.
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