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Jacko's Forex House of Pleasure and Pain

  • #12,381
  • Aug 29, 2010 12:40am Aug 29, 2010 12:40am
Quoting Patience
From what I remember, DailyFX implemented a lot of changes to the forum trying to bring their analysts into the threads to discuss currencies etc and it had a different feel when those changes took place. FF was/is much better laid out (for me). Easier to read/navigate and visually better.

In saying that, Jacko was a strong proponent of no scam, on any forum.

I am fully in agreement with the policy here, and in all other respected Forums, that touting for business and links to signal provider websites should be STRONGLY DISCOURAGED....
Jacko 2006 "I am not trying to be argumentative, but I DO want to prevent new traders from being touted to by signal traders because, from my limited experience, they are all scams".
http://forexforums.dailyfx.com/115025-post17112.html
  • #12,382
  • Aug 29, 2010 12:47am Aug 29, 2010 12:47am
Quoting wwwin
Jacko 2006 "I am not trying to be argumentative, but I DO want to prevent new traders from being touted to by signal traders because, from my limited experience, they are all scams".
http://forexforums.dailyfx.com/115025-post17112.html (http://forexforums.dailyfx.com/115025-post17112.html)

I know, it's so ridiculous to read it now. He also gave his blurb over there and spoke of his travelling with his wife.

This longer time frames allows my wife and I to travel more. We are currently exploring China and SE Asia before returning to our residence in Hong Kong. (MY wife and I have always been inveterate travellers... Now, more than ever, it is a case of have laptop, will travel). Even before we sold our businesses and moved from the United States, we travelled extensively. We are now "on the road" for six months and will probably travel for six months of each year.

http://forexforums.dailyfx.com/110938-post15882.html


I was just trying to look for those posts that I told you about. When he had the he-man spat. It's really annoying me that I can't find them. I think the posts must have been made in somebody else's thread and it's been deleted.
Nothing worth having is easy.
  • #12,383
  • Aug 29, 2010 1:15am Aug 29, 2010 1:15am
I can’t believe someone actually considered and enquired about suing FF. But after the MacDonald’s hot coffee case I guess anything’s possible.
Why don’t they just sue their parents for passing on the “Dumb Gene”
----o00o--°(_)°--o00o----
  • #12,384
  • Aug 29, 2010 1:19am Aug 29, 2010 1:19am
Quoting mart-hart
Why don’t they just sue their parents for passing on the “Dumb Gene”
It wont win, because the parents are dumb enough to find out they are dumb, case closed.
  • #12,385
  • Aug 29, 2010 1:48am Aug 29, 2010 1:48am
Quoting mart-hart
I can’t believe someone actually considered and enquired about suing FF. But after the MacDonald’s hot coffee case I guess anything’s possible.
Why don’t they just sue their parents for passing on the “Dumb Gene”
http://www.time.com/time/columnist/morrow/article/0,9565,167664,00.html
  • #12,386
  • Aug 29, 2010 4:18am Aug 29, 2010 4:18am
Quoting wwwin
I have not seen him around...here is post on the blog in May 2010, perhaps one last push for funds???

"Although I, personally, am not very satisfied with this years results
[left] [size=2][font=Trebuchet MS][color=#00009a][size=2][font=Trebuchet MS][color=#00009a][size=2][font=Trebuchet MS][color=#00009a][i]to date, the returns were rated by the New...


This is where he faked the trades. Those were the pips he claimed to have made. For a follower (I'm a member) the real results look like this:

-------------------------------------------------------------------------------------------------------------------------------
(now(), @account_jacko, 'EUR/USD', 's', 200, '2010-04-12 14:20', 1.3590, '2010-04-19 15:54', 1.3450, 'BE/100 SL' ), -- +140
(now(), @account_jacko, 'EUR/USD', 's', 200, '2010-04-16 02:05', 1.3560, '2010-04-19 15:54', 1.3450, 'BE/100 SL' ), -- +110
(now(), @account_jacko, 'EUR/USD', 's', 200, '2010-04-20 01:45', 1.3491, '2010-04-21 15:25', 1.3400, 'BE/100 SL' ), -- +91
(now(), @account_jacko, 'EUR/USD', 's', 200, '2010-04-20 05:25', 1.3474, '2010-04-21 15:25', 1.3400, 'BE/100 SL' ), -- +74
(now(), @account_jacko, 'EUR/USD', 's', 200, '2010-04-23 13:17', 1.3302, '2010-04-23 21:03', 1.3376, 'BE/100 SL' ), -- -74
(now(), @account_jacko, 'EUR/USD', 's', 200, '2010-04-23 13:17', 1.3302, '2010-04-23 21:03', 1.3376, 'BE/100 SL' ), -- -74
(now(), @account_jacko, 'EUR/USD', 's', 200, '2010-04-28 15:56', 1.3200, '2010-04-30 09:12', 1.3300, 'BE/100 SL' ), -- -100
-------------------------------------------------------------------------------------------------------------------------------
-- April 2010 +167
-------------------------------------------------------------------------------------------------------------------------------
(now(), @account_jacko, 'EUR/USD', 's', 200, '2010-05-06 08:54', 1.2755, '2010-05-07 04:34', 1.2675, 'BE/100 SL' ), -- +80
(now(), @account_jacko, 'EUR/USD', 's', 200, '2010-05-06 14:23', 1.2714, '2010-05-07 04:34', 1.2675, 'BE/100 SL' ), -- +39
(now(), @account_jacko, 'EUR/USD', 's', 200, '2010-05-07 02:15', 1.2625, '2010-05-07 06:13', 1.2725, 'BE/100 SL' ), -- -100
(now(), @account_jacko, 'EUR/USD', 's', 200, '2010-05-07 13:58', 1.2725, '2010-05-10 10:14', 1.3050, 'BE/100 SL' ), -- -325
-------------------------------------------------------------------------------------------------------------------------------
-- May 2010 -306
-------------------------------------------------------------------------------------------------------------------------------

One time he didn't send any SMS, next time he posted hours later to have made a trade. The most obvious fake was the market opening at 2nd of May. Very late in the morning (almost noon) he claimed his AH-trade was triggered and he is "in" (no SMS was sent). Have a close look at the charts and you will see that his trigger level (1.3350) was only reached for 1 minute at the interbank market (Reuters, EBS). Almost no retail trader was able to see and execute because retail platforms usual open one hour later (there are only very few exceptions). In normal trading times this level was not reached anymore. Given his statements he's spreading his positions over 4 borkers, this setup under this conditions simply is not possible so we can easily concluse that this trade was a faked one. The blog entry ("I'm in the green") appeared hours later. The trade gave him about 300 pips profit, so I decided to exclude that one from the graph.

Furthermore he has the attitude to claim "he cancelled orders after market close". Again with 4 different retail borkers this is not possible. So this were paper trades or something was seriously wrong.

If I manage OPM I can not do things like this. Somehow I have to explain the discrepancy between statements and accounts. People started to withdraw money and this broke his neck.

edit: Times are converted to Alp*ä*ri UK times
It takes blood, sweat and enough tears to wash away the blood.
  • #12,387
  • Edited 9:48am Aug 29, 2010 9:06am | Edited 9:48am
Excellent, excellent work....it appears he got desperate in May 2010, probably cause recent losses had some people making withdrawal demands...so he got reckless with a few big winning fake trades hoping few would pick up on it...some noticed the discrepancies, making more people uneasy and making even more withdrawl demands...not wanting to send out what was left of the money that had not been missappropriated or lost...he had nowhere to go but run...
Excellent work emmzett...textbook Ponzi stuff.

PS. Now I wonder how many other fake trades were there now and then to pump up the "trading profits"???? when things were not looking good. Now it makes more sense that a lot of group members were saying they never made any money yet the "fund" continued to be profitable, ...all it takes is a few big fake trades to swing the balance. This thing is making more sense now.

Quoting emmzett
This is where he faked the trades. Those were the pips he claimed to have made. For a follower (I'm a member) the real results look like this:

-------------------------------------------------------------------------------------------------------------------------------
(now(), @account_jacko, 'EUR/USD', 's', 200, '2010-04-12 14:20', 1.3590, '2010-04-19 15:54', 1.3450, 'BE/100 SL' ), -- +140
(now(), @account_jacko, 'EUR/USD', 's', 200, '2010-04-16 02:05', 1.3560, '2010-04-19 15:54', 1.3450, 'BE/100 SL' ), -- +110
(now(), @account_jacko, 'EUR/USD',...
  • #12,388
  • Aug 29, 2010 10:23am Aug 29, 2010 10:23am
Quoting dawsonsg
Sorry Rastaman, I don't believe you.

No one goes to see a lawyer for $700. Judge Judy would be your best bet.

So either you are an investor and wont admit you did your dough, or you haven't gone to see a lawyer at all.
Thats the way I look at it.

In Rastaman's own words, "Jako's site was unimpressive right form the start, not a single chart on the site,..."

So he sends the guy $700? I just don't get it.

I wouldn't send a person one single USD who I have never met, don't know who he/she is outside of some made up User Name on a message board.

I just don't get it.
  • #12,389
  • Aug 29, 2010 10:39am Aug 29, 2010 10:39am
I checked the charts and the blog and the trade would have been triggered only in brokers that would open at 5:00 pm eastern time or earlier on Sundays.
When he first posted that he was in was after the trade was +75 pip in profit at 3:00 am eastern Monday, not before, so any group member that had a broker opening at 6:00 pm eastern would not be in.

Question, you state that he "cancelled open orders when the market were closed". Did he ever say that a trade that turn out to be a loser was not entered b/c the trigger did not occur after 6 pm eastern on a Sunday? Was he consistent on triggering outside normal hours? Do you know what feed he was using to trigger the trades?

Quoting emmzett
This is where he faked the trades. Those were the pips he claimed to have made. For a follower (I'm a member) the real results look like this:

-------------------------------------------------------------------------------------------------------------------------------
(now(), @account_jacko, 'EUR/USD', 's', 200, '2010-04-12 14:20', 1.3590, '2010-04-19 15:54', 1.3450, 'BE/100 SL' ), -- +140
(now(), @account_jacko, 'EUR/USD', 's', 200, '2010-04-16 02:05', 1.3560, '2010-04-19 15:54', 1.3450, 'BE/100 SL' ), -- +110
(now(), @account_jacko, 'EUR/USD',...
  • #12,390
  • Aug 29, 2010 11:13am Aug 29, 2010 11:13am
Hey guys, it's all your fault that his trading ability has diminished. Shame on you. This guy never misses an opportunity to flatter himself and find excuses. Next time you see somebody so consumed with his accomplishments, run.

He claims that there are only 3 investors left to be remitted, how long does it take to remit just 3 investors in an "orderly manner".
Attached Image (click to enlarge)
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  • #12,391
  • Aug 29, 2010 12:07pm Aug 29, 2010 12:07pm
I remember someone once pointing out the weakness of the "Vouching System". I guess, at least in this instance, they may have been right. (jmo)
Hej.
  • #12,392
  • Aug 29, 2010 12:09pm Aug 29, 2010 12:09pm
Quoting Stitch961
I remember someone once pointing out the weakness of the "Vouching System". I guess, at least in this instance, they may have been right. (jmo)

I wouldn't mind seeing the vouching system go.

It serves no real purpose and may even mislead people, as in this case.
  • #12,393
  • Aug 29, 2010 12:18pm Aug 29, 2010 12:18pm
Quoting The Fool
IMPORTANT.
As of July 2010, I am no longer accepting any new members.

...because I am in the Tiburon, CA jail. Please send me a hacksaw in a cake.

  • #12,394
  • Aug 29, 2010 12:22pm Aug 29, 2010 12:22pm
Now is the NY traders attitudes that is at fault. What a piece of work.
Attached Image(s) (click to enlarge)
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  • #12,395
  • Aug 29, 2010 12:34pm Aug 29, 2010 12:34pm
Quoting The Fool
...so nobody ever met jacko in person such that they might ID him from these pics?

..and....so....who gives somebody 5-6 figure chunks of change to trade - without ever even laying eyes on them...?

....mind.....boggling....
Isn't it. The height of stupidity.
  • #12,396
  • Aug 29, 2010 1:09pm Aug 29, 2010 1:09pm
It's all running together, but isn't there a poster who claims to have visited Jacko and spent time with him in Hong Kong?
  • #12,397
  • Aug 29, 2010 1:21pm Aug 29, 2010 1:21pm
ok, lets have a close look at the jacko trade on 03.05.2010
on my charts its not a fake one
after the market opens price hit 1,3359 so there was plenty of time to place pending sell at 1,3300 so wtf??
or i am wrong???
besides i was in situation when somebody have stolen my money so i know how it feels, i am still trying to get it back
but as a paid 700 for memberships and i said few times i have learned something from the blog and now its for free here i feel that somebody have fu..ked me anyway and that definatelly was not jacko.
was he a signal service ?, definitely no , was his blog valuable? definatelly yes
there were a lot of nice comments and emails from members as well.
i paid 700 to get possibility to read all this staff and now it's for free here!!!!
is he a scam? i don't know
he didnt give the money back so far, and if he will not , he should get what he deserves.
Attached Image
  • #12,398
  • Aug 29, 2010 1:21pm Aug 29, 2010 1:21pm
Quoting billbss
It's all running together, but isn't there a poster who claims to have visited Jacko and spent time with him in Hong Kong?
All I can remeber is someone who commented on his strategy on a different website that he has met him in Singapore. http://www.forexstrategysecrets.com/blog/an-alternative-to-hedging.htm
  • #12,399
  • Aug 29, 2010 1:25pm Aug 29, 2010 1:25pm
Quoting TJPLD
All I can remeber is someone who commented on his strategy on a different website that he has met him in Singapore. http://www.forexstrategysecrets.com/blog/an-alternative-to-hedging.htm

The one I'm thinking of was posted here.
I saw it a few days ago.
I'll try to find it.
  • #12,400
  • Aug 29, 2010 1:33pm Aug 29, 2010 1:33pm
Only if your broker opens at 5:00 pm eastern or earlier on sundays ny time.
By the way, did you take the trade?

Quoting thorr
ok, lets have a close look at the jacko trade on 03.05.2010
on my charts its not a fake one
after the market opens price hit 1,3359 so there was plenty of time to place pending sell at 1,3300 so wtf??
or i am wrong???
besides i was in situation when somebody have stolen my money so i know how it feels, i am still trying to get it back
but as a paid 700 for memberships and i said few times i have learned something from the blog and now its for free here i feel that somebody have fu..ked me anyway and that definatelly was not jacko.
was he a signal...
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