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Jacko's Forex House of Pleasure and Pain

  • #11,681
  • Aug 15, 2010 11:55am Aug 15, 2010 11:55am
I can see this thread going on for a long time yet...

Seems a lot of people not even involved have set up camp here (guilty). Its interesting I guess - like FF front page news or something lol
Time hides Nothing
  • #11,682
  • Aug 15, 2010 12:00pm Aug 15, 2010 12:00pm
Quoting wwwin
Don't come here now cleaning your hands buddy, and talking about evidence, what evidence did you have to post this?

"If quarter after quarter after quarter of consecutive profitable years (even during the financial crisis) isn't enough evidence for you all, I don't know what to say......."
http://www.forexfactory.com/showpost.php?p=3864902&postcount=165

So what evidence did you have to say that? Show me the evidence or shut up!!!

PS. And you also attacked me. So don't come here cleaning...

I imagine if jacko was frauding his members about his consecutive quarters of profits, it would be exposed in this thread at least a year or two ago. No one had any complaints about his service until he posted a losing quarter.

many were trying to throw up red flags on him, but with nothing to back any of their claims.

as far as me "attacking" anybody, I'm not the one accusing people of being part of the scam as I was accused of being part of the scam. I was falsely attacked, and it made me laugh.

My argument now has nothing to do with jacko, it has to do with the fact that all the naysayers of his service didn't really present anything meaningful until after the fact (his "guaranteed" returns would have been a good start for exposing a scam, but NO ONE presented this information until very very recently).

I never was a member of his private group, and it looks that many of the naysayers weren't members either. If he never had a managed fund, then the $700 membership fee that people paid would have been the only loss that people would be concerned about, and it seems as though most people believed he was quite helpful as a teacher (that is, until he posted a losing quarter).

As far as people invested in his "fund", well, those people took a risk, and right now it looks like it might not have worked out for them.

All I'm saying is, if you are going to call shenanigans, going against years of success, you better have some real content to present in order to convince me. At this point, I am skeptical of what might have happened here, but still not even close to 100% believing in one direction or the other.
Many choose unhappiness over uncertainty.
  • #11,683
  • Aug 15, 2010 12:04pm Aug 15, 2010 12:04pm
Hi wwwin, good to see ya.

Sure, I just wanted to give my opinion on the vouch system.

My task here in FF was to share a not easy but well visually trading method what can bring a new trader to the positive side if he did his homework for some month/years.

All is done and for free, now the mission is completed and I’m back to my real life with joining friends and family.
  • #11,684
  • Aug 15, 2010 12:11pm Aug 15, 2010 12:11pm
No buddy, that is NO EVIDENCE, that people didn't complain, you are quite aware that he swore them to secrecy and even if he had not, how does not complaining equate to "quarter after quarter after quarter of consecutive profitable years". Is not that easy to clean your hands now. This is what you posted and I want to know what evidence you had to post that???

"If quarter after quarter after quarter of consecutive profitable years (even during the financial crisis) isn't enough evidence for you all, I don't know what to say......."
http://www.forexfactory.com/showpost...&postcount=165 (http://www.forexfactory.com/showpost.php?p=3864902&postcount=165)

So what evidence did you have to say that? Show me the evidence or shut up!!!





Quoting Dan Gilbert
I imagine if jacko was frauding his members about his consecutive quarters of profits, it would be exposed in this thread at least a year or two ago. No one had any complaints about his service until he posted a losing quarter.

many were trying to throw up red flags on him, but with nothing to back any of their claims.

as far as me "attacking" anybody, I'm not the one accusing people of being part of the scam as I was accused of being part of the scam. I was falsely attacked, and it made me laugh.

My argument now has nothing to do with jacko,...
  • #11,685
  • Aug 15, 2010 12:15pm Aug 15, 2010 12:15pm
I doubt it was a scam when he STARTED. Go back to his EARLY posts and you will see he was right on about the future market direction. Just like many great traders in the past I believe he lost his touch with the markets. Forced to keep trading because of the paid members... he started to over trade and take trades he normally would not which only made matters worse.

Plus you have to look at his strategy which is based on fundamentals. Fundamentals have not been the greatest strategy for Q2. I trade fundamentals (long term) and I have been having negative results where normally in the past few years I have been doing great with them. Sometimes one must alter their strategy or go extinct and just like a dinosaur... he is unable to adept.

I am not trying to protect him BUT if he knows whats right he SHOULD refund the money to his group. The bottom line is... he no longer profitable, his technique no longer works as it used to, he shouldn't teach people to loose money.
  • #11,686
  • Aug 15, 2010 12:16pm Aug 15, 2010 12:16pm
Quoting cobraforex
Hi wwwin, good to see ya.

Sure, I just wanted to give my opinion on the vouch system.

My task here in FF was to share a not easy but well visually trading method what can bring a new trader to the positive side if he did his homework for some month/years.

All is done and for free, now the mission is completed and I’m back to my real life with joining friends and family....
Hi Cobra, you have no worries or nothing to explain. You were never a cultie here.
  • #11,687
  • Aug 15, 2010 12:17pm Aug 15, 2010 12:17pm
Quoting wwwin
No buddy, that is NO EVIDENCE, that people didn't complain, you are quite aware that he swore them to secrecy and even if he had not, how does not complaining equate to "quarter after quarter after quarter of consecutive profitable years". Is not that easy to clean your hands now. This is what you posted and I want to know what evidence you had to post that???

"[i]If quarter after quarter after quarter of consecutive profitable years (even during the financial crisis) isn't enough evidence for you all, I don't know what...

The "evidence" is in simply in the fact that this thread survived as long as it did.

You cannot possibly give out signals, with management techniques, for a couple of years without getting exposed.

I highly doubt a post would get "binned" if someone from the private group hopped into this thread and said, "hey, jacko had a losing quarter this past quarter"

a losing quarter isn't even a big deal.

All I can say at this point is, no one knows WTF is going on exactly, but I was basing my opinion on the survival of this thread up to this point in time. I will gladly admit that this whole thing was a scam as soon as some private members come in here and confirm without a doubt that their funds are not getting returned. Also, if jacko's blog shuts down, and he doesn't put forth any more updates, I think we will have our answer. Until then, this argument is hogwash.
Many choose unhappiness over uncertainty.
  • #11,688
  • Aug 15, 2010 12:24pm Aug 15, 2010 12:24pm
Quoting Dan Gilbert
....The "evidence" is in simply in the fact that this thread survived as long as it did....

.
You are a joke. Go back to reading grammar books and practicing your grammar.
  • #11,689
  • Aug 15, 2010 12:30pm Aug 15, 2010 12:30pm
Quoting Dan Gilbert
All I can say at this point is, no one knows WTF is going on exactly, but I was basing my opinion on the survival of this thread up to this point in time. I will gladly admit that this whole thing was a scam as soon as some private members come in here and confirm without a doubt that their funds are not getting returned. Also, if jacko's blog shuts down, and he doesn't put forth any more updates, I think we will have our answer. Until then, this argument is hogwash.
Wow! The guy has stopped communication with his investors and has put a vague message on his blog blaming his employee for diverting some investor funds. Nobody can get in touch with him by telephone. He also started a "private" investment fund guaranteeing a 30% return a year with any losses topped up by his own money. He had nothing more than a blog, a serviced office as his company's registered address and nobody seems to know who the hell he is. I have to say, using your words, that your ignorance is astounding.

Any investors out there reading this thread that haven't contacted the appropriate authorities yet, get moving. NOW!
Nothing worth having is easy.
  • #11,690
  • Aug 15, 2010 12:41pm Aug 15, 2010 12:41pm
Quoting Patience
The guy has stopped communication with his investors and has put a vague message on his blog blaming his employee for diverting some investor funds. Nobody can get in touch with him by telephone. He also started a "private" investment fund guaranteeing a 30% return a year with any losses topped up by his own money. He had nothing more than a blog, a serviced office as his company's registered address and nobody seems to know who the hell he is.
Hey but his thread SURVIVED that is rock solid proof he has been profitable for years!!! Screw you with all your facts and stuff...

Sorry Dan but you have to admit the popularity of a thread has nothing to do with the quality of the threadstarter. I can understand that some feel disappointed that their favorit User suddenly turns out to be a lousy scammer. Just look at the EURUSD Thread in the Interactive Trading Forum. It's save to say that the majority of the users posting there are not profitable yet it keeps on and on and on.
  • #11,691
  • Aug 15, 2010 12:48pm Aug 15, 2010 12:48pm
Group Hug
Time hides Nothing
  • #11,692
  • Aug 15, 2010 12:49pm Aug 15, 2010 12:49pm
Quoting CindyXXXX
Group Hug
Aaawwwwwww
  • #11,693
  • Aug 15, 2010 1:16pm Aug 15, 2010 1:16pm
Dude, go back few pages and read the comments from Jacok's private members..

Quoting Dan Gilbert
The "evidence" is in simply in the fact that this thread survived as long as it did.

You cannot possibly give out signals, with management techniques, for a couple of years without getting exposed.

I highly doubt...
  • #11,694
  • Aug 15, 2010 3:45pm Aug 15, 2010 3:45pm
Behold the power of a cult. Works every time. Heck, even a short, ugly hick from Austria was able to get an entire country of nitwits to follow him and help change world history.
  • #11,695
  • Aug 15, 2010 4:36pm Aug 15, 2010 4:36pm
Regardless of wht you guys think scam or misunderstanding, if misunderstanding everyoen going to feel lik shit bags because he has been trading succesfully for years then and if a scam jees he spent 3 years to set it up wow, ppl really if its true tht is clever as hell.

So all i can say i think he would be a good bussiness partner if you know him haha.
Can i also please get a hug
  • #11,696
  • Aug 15, 2010 5:56pm Aug 15, 2010 5:56pm
Quoting meepatme
Well i think my input to this thread is done.


Iv took all my evidence to feds, hong kong police, banks, english enforcement.

Jacko if its a mistake i appolagise as you were very sincer and good to me up until the 27 July. Maybe this pushed you over the edge and you will sort all this out but cant take the change.

Wish the affected well.

Russell


meepatmee: "Very honest Guy", Jun 13, 2009

Took you a while, huh?
  • #11,697
  • Aug 15, 2010 6:48pm Aug 15, 2010 6:48pm
Quoting cloggie
The "I told you so" is part of the example and warning process. Traders have been saying "I told you so" for 100's of times over and over again, ever since trading first started. Using real life victims of scams will still not end the endless pursuit by noobs of shortcuts to riches.

There is no shortcut, period.

Learn to trade for yourself, that is the only way to success.

Some Senior traders vouched for him, some may just have done for his trend following strategy and not just his sollicitation of $700.00 members to his signal service,...
http://cdn.forexfactory.com/attachme...1&d=1281881946...
Quoting Razzle
I dont think anyone is BLAMING those who vouched for him, but vouches from the sites own admin and mods, and those from senior members probably add a degree of credability.
shame on me
I forgot I wouched for him [vote undone now] it must have been very long time ago because i wasn't following his thread for at least 2 years. I didn't even noticed he started payed service-i wouldnt have vouched for him if i knew that.
many people were wouching for him at that time. i have to admit if he planned to scam people he was wery persuasive and seemed to be honest at the begining.Even if this is not a scam jacko's reputation is gone as he left his followers alone in the dark in his house of pain..

Im not usualy vouching or rating people on forums based on first impression. this voting system has its flaws obviously. on your screenshot there is only small fraction of vouches left-most of them dissapeared silently during last couple of days.

i admit this vote was my mistake but i wasnt only one fooled. and i hope noone got encouraged to send him money just based on how many vouches he got.

btw this voucher system started some 3 years ago as 1KT (1000 trades status-vote for a trader who was believed to have made 1000+ live trades)
  • #11,698
  • Aug 15, 2010 7:07pm Aug 15, 2010 7:07pm
Quoting Razzle
However, I would certainly question the wisdom of anyone acting in an official capacity at FF of vouching for commercial members.

Thats not an allocation of blame, people need to take responsibility for their own actions, but official endorsment certainly isnt helping matters.
The former mods who vouched for Jacko did it in the days of the 1kt room. At the time, there were no commercial members and Jacko hadn't revealed any commercial intent at that time. As Bilbss pointed out, the criteria for a vouch back then was having 1000+ live trades under one's belt. Id didn't mean the member was profitable--it only meant that the person had done a fair amount of trading with live money.

Jacko hatched his commercial plan in the 1kt room and his thread was binned. He then continued his pitch in the bin but it didn't get much exposure. When the commercial forum was invented he was given the green light to solicit.
  • #11,699
  • Aug 15, 2010 7:19pm Aug 15, 2010 7:19pm
Quoting wwwin
Not so sure that it is a business location.
Why not just google earth it... You can use the "satellite" button to count the trees in the front yard. I count 8 in the front circle drive.

And the neighbors pool is hideous!
  • #11,700
  • Aug 15, 2010 8:42pm Aug 15, 2010 8:42pm
Hi Guys,

WOW....pretty much all I can say !!!!!

I have come here to support Scott Jones, Merlin, Diallist, BB and Marejp. When Jacko first came to FF his posts were interesting, made sense and he knew what he was talking about and everyone thought he was a nice guy. I have to admit that I also thought he was someone that others could learn from and his Anti hedge strategy was a good idea.

Most times it is easy to spot a scam and it happens fast. You have limited resources available to investigate and show evidence on a forum and you have to somehow catch them out. It takes a team effort. It is usually started by a single whistleblower who is courageous enough start the ball rolling. They usually have to survive abuse and derision from fellow members. Think back to Tudor girl.

Getting back to Jacko, he spent a lot of time and effort building trust on this forum for a least a year and then he moves into the signal selling arena.
He gives good calls and starts teaching turtles...what is not to trust at this point? He seems like a good guy.
He then realises how difficult it is for some traders to take SMS at odd hours so he offers a management fund. Here is the point at which everything changes. Who knows he may have planned the scam from the beginning or he may not have....who really knows and I am sure we will never know.

Someone mentioned good old Beau Diamond. I had almost forgotten about him. I seriously do not think he was a scam or not that I am aware of. He had a system and he sold signals and IMO his system started to fail due to the market changing conditions. His backtests never went back far enough to test a similar ranging market. I made friends trading his system...James16, Diallist, Marejp and we were lucky enough to be given a private section within FF thanks to Merlin.

Anyway I thought I could spot a scam a mile away but I sure as hell missed this one. I am also sure that while I was a mod I probably gave members who were giving Jacko a hard time a warning or two. It is all about how you go about it. If you come onto a thread and start calling someone a scam then that is really rude and just not the way to catch them out. The best way is to collect evidence quietly and report it to Twee. That way you will be taken seriously.

I am sorry for those of you who are chasing your funds and I hope you are all lodging complaints with every authority you can think who may be of help.

Antra
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