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The ForexMick Trade Journal- Jacko style

  • #61
  • Apr 12, 2010 3:47pm Apr 12, 2010 3:47pm
Quoting forexmick
I trade the Jacko system. but i trade other pairs. I trade the E/U, the G/U and the A/U....
Well done on holding those EU shorts. Jacko has none of these long term shorts open though so interested why do you call it his system? Looks like you are doing much better :-)
  • #62
  • Apr 12, 2010 5:07pm Apr 12, 2010 5:07pm
Quoting forexmick
I have two sells AUD/USD at 0.9242 and 0.9245. Will close out today or tomorrow for a profit?
Waiting for price of E/U to get to Jackos target price for a sell. Nothing for G/U yet.

AUD/USD back to breakeven,

nice recovery.

Did you use a/h or did you just hold ?
  • #63
  • Apr 12, 2010 6:29pm Apr 12, 2010 6:29pm
Quoting arrowloopboy
AUD/USD back to breakeven,

nice recovery.

Did you use a/h or did you just hold ?
I held. And I am holding until both the E/U and 2 A/U trades get to where I want to close them
Jacko likes to close all his positions over a weekend. But he has said on his blog a couple of times that if you are going to hold a trade over the weekend, then you take the stop losses off. You need to keep control of the trades and not have your trades closed out by the brokers. It works for me.
  • #64
  • Apr 12, 2010 9:19pm Apr 12, 2010 9:19pm
Quoting nigelpip
Hi Mick

I've just spent the weekend looking through the various threads on the Jacko method. Very much looking forward to seeing you put some of his ideas into practice real time.

I'll be following this journal with interest and hopefully it doesn't get hijacked in the same manner as some of the other threads I've read concerning the approach.

Nigel
Any trolls and kiddies try to hijack this and I will boot them out. This is MY thread about MY trades.
Anyone wants to ask an intelligent question, they will get an answer.
Anyone wants to say they are better than me, then they can open THEIR OWN thread and post all THEIR trades within 60 seconds of them taking THEIR trades. Let the threads of their trading results be the proof.
Posting their trades AFTER the 60 seconds is Bollocks and no edits are allowed to any posts.
  • #65
  • Apr 13, 2010 2:44am Apr 13, 2010 2:44am
Quoting forexmick
Any trolls and kiddies try to hijack this and I will boot them out. This is MY thread about MY trades.
Anyone wants to ask an intelligent question, they will get an answer.
Anyone wants to say they are better than me, then they can open THEIR OWN thread and post all THEIR trades within 60 seconds of them taking THEIR trades. Let the threads of their trading results be the proof.
Posting their trades AFTER the 60 seconds is Bollocks and no edits are allowed to any posts.
Dont hold back ForexMick. The soft and subtle approach is good
  • #66
  • Apr 13, 2010 4:48am Apr 13, 2010 4:48am
Quoting 4Xfactor
ForexMick and ArrowLoopBoy,

First of all thank you both for your recent contributions.

I would be interested to hear how today's opening gap impacted your trades, if at all, especially some of your long term short trades on EURUSD ForexMick.

With regards to thread control, there a few ways to proceed.

I like SteveHopwood's approach here:

http://www.forexfactory.com/showthread.php?t=204646

whereby he controls input via the vouching system. Although, since he has taken that approach, I have been unable to post ...

Mick,

Based on post #63 I think you have given me the answer. I was particularly interested in the lower long term EU shorts i.e. 1.3590, 1.3505 and whether or not you were indeed stopped out. But in post #63 you say that if you hold trades over the weekend you remove stops. So I will assume that is the answer?

Out of curiosity do remove stops completely or do you use a very large stop in case of an unexpected catastrophic event?

Regards,
  • #67
  • Apr 13, 2010 7:14am Apr 13, 2010 7:14am
Quoting 4Xfactor
Mick,

Based on post #63 I think you have given me the answer. I was particularly interested in the lower long term EU shorts i.e. 1.3590, 1.3505 and whether or not you were indeed stopped out. But in post #63 you say that if you hold trades over the weekend you remove stops. So I will assume that is the answer?

Out of curiosity do remove stops completely or do you use a very large stop in case of an unexpected catastrophic event?

Regards,
The stops are removed completely on weekends. Jacko said in his blog some months ago to NEVER get in a situation where the brokers can make your exit position for you, because they will close you out at the worst possible price.
So I don't use any stops if I hold over the weekend, and I never get close to a margin call.
  • #68
  • Apr 13, 2010 12:25pm Apr 13, 2010 12:25pm
Mick,

Are "over weekend" trades the only trades that you dont use our usuall s/l (100pip) on ?
  • #69
  • Apr 13, 2010 5:21pm Apr 13, 2010 5:21pm
Quoting forexmick
The stops are removed completely on weekends. Jacko said in his blog some months ago to NEVER get in a situation where the brokers can make your exit position for you, because they will close you out at the worst possible price.
So I don't use any stops if I hold over the weekend, and I never get close to a margin call.
Could you explain how "brokers" can manipulate the price by hundreds of pips to take a stop out?
  • #70
  • Apr 13, 2010 5:37pm Apr 13, 2010 5:37pm
Quoting fxprocessor
Well done on holding those EU shorts. Jacko has none of these long term shorts open though so interested why do you call it his system? Looks like you are doing much better :-)

It is based on Jacko's system. But I also use my own initiative. I trade the Jacko system. but i trade other pairs and and i trade both long term and short term because I don't have the trading size of Wayne.. The system is important but learning the way to trade is more important. And I didn't want to be spoonfed
I wasted 12 months tooling around with indicators and a whole lot of other shite before i turned consistently profitable. But I have got it by the balls now.

The best way to learn is to find a professional trader 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. Then use your own initiative. Thats what I did.
You need to LEARN how to trade Forex. Despite what some say here, it is NOT a God-given gift. Some dumb traders here wear demo trading and blown up accounts as badges of honour. Don't listen to them. It is all shite. Blown up accounts is not a indicator of becoming a good trader. If you think you have to blow up your account on the way to learning how to trade, then you are as dumb as them.
I was gobsmacked by how many long term posters here are tooling around with pennies.
  • #71
  • Apr 13, 2010 11:19pm Apr 13, 2010 11:19pm
I like the live trade calls, but not the plugs for Jacko. Your results will speak for themselves, not how much you praise his services.

By the way, you have nothing to prove to anyone. If you are a successful fulltime trader, that is a great accomplishment that nobody can take from you.
  • #72
  • Apr 14, 2010 2:30am Apr 14, 2010 2:30am
Quoting Tenapenny
Could you explain how "brokers" can manipulate the price by hundreds of pips to take a stop out?
They don't.
  • #73
  • Apr 14, 2010 2:43am Apr 14, 2010 2:43am
Quoting tdion
I like the live trade calls, but not the plugs for Jacko. Your results will speak for themselves, not how much you praise his services.

By the way, you have nothing to prove to anyone. If you are a successful fulltime trader, that is a great accomplishment that nobody can take from you.
I have no problems recommending Wayne. He is a class above anyone else I have had contact with. When I look back on my trading before joining his group, my trading was rubbish. It was no more than punting on misguided guesses. He saved me from destroying my account by trying to scalp using every tech tool in the book and has helped me see forex trading for what it is. He drummed it into me that it is a long term business that I can do for the rest of my life. Anywhere. Anytime. Any place.
My results already speak for themselves. I don't give a monkey's shite about what the tossers here say. This thread is for me and for the one or two other serious traders that come here.
Getting back to trades, my trades FIVE SIX and SEVEN are active.
  • #74
  • Apr 14, 2010 3:25am Apr 14, 2010 3:25am
Quoting forexmick
Getting back to trades, my trades FIVE SIX and SEVEN are active.
Mick,

Would it be possible for you to post more analysis regarding some of your entries?

I would appreciate that and I'm sure that many others here would find it useful.

Sláinte agus táinte!
  • #75
  • Apr 14, 2010 4:04am Apr 14, 2010 4:04am
Quoting 4Xfactor
Mick,

Would it be possible for you to post more analysis regarding some of your entries?

I would appreciate that and I'm sure that many others here would find it useful.

Sláinte agus táinte!
http://www.forexfactory.com/showpost...35&postcount=9
  • #76
  • Apr 14, 2010 5:46am Apr 14, 2010 5:46am
The Aussie almost took my stops at 0.9355. The SL = The 9350 round number barrier + 5.
They could be struck later. I am out going out with the missus. The stops in place.
  • #77
  • Apr 14, 2010 12:06pm Apr 14, 2010 12:06pm
Quoting forexmick
The Aussie almost took my stops at 0.9355. The SL = The 9350 round number barrier + 5.
They could be struck later. I am out going out with the missus. The stops in place.


Closed Trade Five at 0.9355 at 10.41am NY time -110
Closed Trade Six at 0.9355 at 10.41am NY time -113

These trades has ripped a hole in the last two months profits. This trading in public is a bitch.
Off to spend some time with the missus and kids.
  • #78
  • Apr 14, 2010 12:26pm Apr 14, 2010 12:26pm
Hey Mick, some you win - some you lose - I had two losers today too on the EUR/USD - only 40 pips in total. The E/U has found a lot of strength since its gap up but could turn and fill the gap in the next few days or we have a change of trend - which wouldn't surprise me given the strength in the general markets.

BTW, I'm not interested in any of the non-trading posts - so please keep posting your trades live
  • #79
  • Apr 14, 2010 4:27pm Apr 14, 2010 4:27pm
I agree about finding a pro trader and following their system. For me it was James16. Great trader.


Quoting forexmick
It is based on Jacko's system....
  • #80
  • Apr 15, 2010 1:32am Apr 15, 2010 1:32am
Quoting forexmick
Closed Trade Five at 0.9355 at 10.41am NY time -110
Closed Trade Six at 0.9355 at 10.41am NY time -113

These trades has ripped a hole in the last two months profits. This trading in public is a bitch.
Off to spend some time with the missus and kids.
Trades FIVE and SIX are now waiting for AntiHedges to be activated. I want that money back.

Trade SEVEN is active. The SL is at 1.3705. The SL = Round number barrier + 5
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