Jacko's Forex House of Pleasure and Pain | Page 626 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Chicky's House of Pleasure and Pain 11 replies

Carry Backet w/ Jacko's AH 10 replies

Hello Guys is a pleasure to be here. I'm new to MT4 1 reply

Jacko's P&P Trend Trading Method 73 replies

Attachments: Jacko's Forex House of Pleasure and Pain
Exit Attachments

Jacko's Forex House of Pleasure and Pain

  • #12,501
  • Sep 4, 2010 3:22pm Sep 4, 2010 3:22pm
Quoting Slack
Actually, it looks like he/she/them have entered phase 2 of the scam:

i cannot believe there is no one who can catch this guy surely with an IP address or location or something a trace can be done to the location and someone can be behind this..

im amazed that theres no trace..seems this person is very clever..I mean even with opening accounts, how can there be no trace??? very strange
  • #12,502
  • Sep 4, 2010 4:08pm Sep 4, 2010 4:08pm
It depends on how he setup this whole thing at the beginning.
It could takes lots of human power to get it done if being done right and on time.
  • #12,503
  • Sep 4, 2010 4:17pm Sep 4, 2010 4:17pm
Quoting nAVIN2007
i cannot believe there is no one who can catch this guy surely with an IP address or location or something a trace can be done to the location and someone can be behind this..

im amazed that theres no trace..seems this person is very clever..I mean even with opening accounts, how can there be no trace??? very strange
There are many traces but none of them will help us directly to track him down that's up to the police.

As for collecting Funds/Fees in USD that's probably just because everyone has an Idea what 1000 USD is in their local currency but not how much 1000 Singapore or Hong Kong Dollars are.
  • #12,504
  • Sep 4, 2010 6:46pm Sep 4, 2010 6:46pm
This is crazy.


Last year, i was about to invest U$50 thousand in Jacko's fund but because the brazilian government is so protectionist, i couldn't make the transfer and wouldn't be able to make it without an enormous amount of headache, so i just decided to trade his signals and try to simulate his fund's performance. For once, the government of my country has done something useful for me, in a strange way.

I just finished reading the last 90 pages or so of this topic as i was out of touch with the forums lately.

I've been a member of Jacko's 2nd group since middle 2009 and to me Jacko beyond doubt legit.

Counting his time at DailyFX and here at Forexfactory, and his obvious skill and knowledge of trading, how could anyone imagine (other than the usual paranoid ones who will not even trust their own d*cks) he was actually trying to run some sort of Ponzi scheme? It seemed just too much effort, if he was indeed a fake, for such a low chance of significant return, and at an enormous risk for himself.

And what made it all seem more legit was that he was indeed a good trader. His trades (if he ever actually placed them) would make money, his had tremendous insight into the EURUSD (better insight than any other trader i'd seen here on FF anyway). You don't get this sort of skill and knowledge overnight, he must have had a lot of experience trading, one would think.


In the end, i believe he was indeed a skilled and experienced trader, and must be at least in his 30s. I think he was just one person, at least the one posting about trading. He could have had partners for other operational stuff like bank accounts and setting up fake company offices and stuff. Too bad he used his skills to do evil.


All this makes me wonder if it is really possible to live off of trading forex, that is, considering someone like Jacko would gain greater financial benefit by stealing rather than trading forex...



It was a great lesson learned, and the price i paid was luckily much cheaper than the one others paid.
freedom
  • #12,505
  • Edited 9:50pm Sep 4, 2010 9:33pm | Edited 9:50pm
If someone has sound judgment on the market, he can be a market analyst. Being a trader is another thing.

I haven't taken part in Jacko's group personally, but what I've heard make me curious:

1. Why he did not usually trade his signal even when it was good?
2. Why people said that his judgement was good for many years, only get worse over the last half year and then run away?

cheers,

Quoting equilibrium6
This is crazy.


Last year, i was about to invest U$50 thousand in Jacko's fund but because the brazilian government is so protectionist, i couldn't make the transfer and wouldn't be able to make it without an enormous amount of headache, so i just decided to trade his signals and try to simulate his fund's performance. For once, the government of my country has done something useful for me, in a strange way.

I just finished reading the last 90 pages or so of this topic as i was out of touch with the forums lately.

I've been a member of Jacko's...
  • #12,506
  • Sep 4, 2010 10:10pm Sep 4, 2010 10:10pm
Quoting kk007
If someone has sound judgment on the market, he can be a market analyst. Being a trader is another thing.

I haven't taken part in Jacko's group personally, but what I've heard make me curious:

1. Why he did not usually trade his signal even when it was good?
2. Why people said that his judgement was good for many years, only get worse over the last half year and then run away?

cheers,

1. According to him, he ALWAYS traded his signals. He used to say that he was not a signal service, that he only showed us his trades and explained why he took them, and if we wanted to follow his trades it was our responsibility but his primary objective was to teach us how to trade.

2. People say his judgement was good because it was. Those following his trades in the last year before recently made consistent money. I made money. In the last 6 months his performance deteriorated (maybe because of changing market conditions, or whatever other reason) and i'm confident this is the main reason he vanished now. As long as his performance was good, i'm sure he would have kept the scam and attract new investors for as long as he could.
freedom
  • #12,507
  • Sep 4, 2010 10:16pm Sep 4, 2010 10:16pm
Quoting equilibrium6
1. According to him, he ALWAYS traded his signals. He used to say that he was not a signal service, that he only showed us his trades and explained why he took them, and if we wanted to follow his trades it was our responsibility but his primary objective was to teach us how to trade.

2. People say his judgement was good because it was. Those following his trades in the last year before recently made consistent money. I made money. In the last 6 months his performance deteriorated (maybe because of changing market conditions, or whatever other...
So he's a scam artist too, JESUS CHRIST!
  • #12,508
  • Sep 4, 2010 11:29pm Sep 4, 2010 11:29pm
Quoting equilibrium6
1. According to him, he ALWAYS traded his signals. He used to say that he was not a signal service, that he only showed us his trades and explained why he took them, and if we wanted to follow his trades it was our responsibility but his primary objective was to teach us how to trade.

2. People say his judgement was good because it was. Those following his trades in the last year before recently made consistent money. I made money. In the last 6 months his performance deteriorated (maybe because of changing market conditions, or whatever other...
#

This is such bullshit, off course he was a signal service, noone would have signed up if he hadn't offered to send SMS's when his trades were taken. Don't kid yourself, everyone who sent him 700$ did so because they wanted his signals. If you claim otherwise you are lying to yourself and us.
  • #12,509
  • Sep 4, 2010 11:49pm Sep 4, 2010 11:49pm
Quoting kon5t
#

This is such bullshit, off course he was a signal service, noone would have signed up if he hadn't offered to send SMS's when his trades were taken. Don't kid yourself, everyone who sent him 700$ did so because they wanted his signals. If you claim otherwise you are lying to yourself and us.
I paid $500 and have been in his group about 18 months, I took less than 50% of the trades and this year I took the opposite side on a lot of his trades. This is not what I planned when I joined, but I didn't take trades unless they made sense to me. Once you have a few bad trades, it could cloud your judgement especially if you are under pressure and responsible for giving advise to other people. Between running a scam and trying to give profitable advise to other people that's a lot of weight on someone's shoulders Jackoff wasn't in a state of mind anymore where he could think clearly and make profitable trades, by now he probably ran the scam long enough and decided it was time to take profits and run before he got deeper into shit.
It's NOT GAMBLING when the odds are in your favor
  • #12,510
  • Sep 5, 2010 3:15am Sep 5, 2010 3:15am
http://www.cftc.gov/PressRoom/PressReleases/pr5884-10.html

"Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today announced that it obtained more than $6.2 million in disgorgement and civil monetary penalties in a federal court summary judgment against defendants Marvin Cooper and his company, Billion Coupons, Inc. (BCI), both of Honolulu, Hawaii. The CFTC charged defendants with operating a $4 million foreign currency (forex) and commodity futures Ponzi scheme that defrauded more than 125 customers, all of whom were deaf."

...steady stream of crooks. Why are there so many scumbags in Forex?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,511
  • Sep 5, 2010 3:54am Sep 5, 2010 3:54am
Quoting The Fool
Why are there so many scumbags in Forex?
Its a scammers goldmine

1 - People dont knw much about finance generally and with all the BS about will listen to anyone wiling too give them the time of day

2 - Facts, charts, results, strategies are easily manipulated,

3 - THe easyness of trading, leverage etc makes it a lazy optin for get rich quick junkies

In a nutshell people are blinded by the lights - The scammers simply extend their hand and lead them into their dungeon
Time hides Nothing
  • #12,512
  • Sep 5, 2010 4:15am Sep 5, 2010 4:15am
Quoting The Fool
...steady stream of crooks. Why are there so many scumbags in Forex?
Because Forex is about Money. Even highly educated people turn their brains of when it comes to money. Promise someone large returns with little risk and soon the Greed will take over. If not there are plenty of other people to scam it's enough if you find just a hand full of suckers.
  • #12,513
  • Edited 10:41am Sep 5, 2010 5:23am | Edited 10:41am
Quoting User Name
I paid $500 and have been in his group about 18 months, I took less than 50% of the trades and this year I took the opposite side on a lot of his trades....

this is how i see it..jacko was a trend trader..he just kept buying into what he thought was a uptrend contination..kept buying into a dip, without a signal to long..and got burned..

i dont think he had the trading ability that most believe he had..
I shall use myself as an example..i have traded cable for couple of years..i generally have a very descent idea of where the pair is heading and i have attracted people that would have invested with me..

but i always thought why would i want to take the responcibility of someone else hard earned money..trading is nothing but speculation and a risk of lossing capital is a more that likely probability..unless u approach it with mm

example of a person wanting to invest: this place is a scammers goldmine:-


Hello,

Been reading your posts with interest...Compliments to you...

Can I ask if you're managing funds for others or thinking of doing this?

If so can u send details on your how long have u managed funds, how long have you traded, avg performance per month, risk taken on trade, trading style, typical stop loss and take profit target, biggest draw downs in a trade and overall etc., because I'm real interested in looking for a money manager.. Can lead to a large acct of 6 figures into 7 figures...

If u don't manage funds, can u recommend someone you trust?

Thanks much

THEN U HAVE THIS FOOL:-

hi, my name is Andrey Savchuk...
i have been trading the forex market for about 7 years now and am quite knowledgeable when it comes to trade the forex market.

i converted 5,000 euros to 121, 974 euros in 2 weeks on a real account.

Login: 9947
password:lfy6haw

you can verify this by looking at my account statement. http://www.fbcapitalmarkets.com/down...ader_setup.exe (http://www.fbcapitalmarkets.com/download/FBTrader_setup.exe)

i will be willing to share this trading system with you for a fee of $5,000 .

my email address is ([email protected])

It can be easy for someone to..think to take people money especially as a trader u fail( as a means to get back what u lost, like a revenge trade, type mentality) ..and people can become victim to such sheep in wolfs clothing..someone who loses a lot will look to find a way to get money back..or do this scam as a means to make lot of money to compound via trading

But this guy knew he had to be professional to pull this off..he hardly posted in euro thread, maybe the reason is he wasnt the one giving the signals?????the mind wonders
  • #12,514
  • Sep 5, 2010 8:19am Sep 5, 2010 8:19am
Quoting TJPLD
Because Forex is about Money. Even highly educated people turn their brains of when it comes to money. Promise someone large returns with little risk and soon the Greed will take over. If not there are plenty of other people to scam it's enough if you find just a hand full of suckers.
Exactly. Also, fx isn't the only crookery, look under the hood of many other industries and you would be shocked, too: Dentistry, Chiropractors, Auto Mechanics, Traditional Education (Private Colleges)... etc.
  • #12,515
  • Sep 5, 2010 12:20pm Sep 5, 2010 12:20pm
Quoting equilibrium6
...., Last year, i was about to invest U$50 thousand in Jacko's fund but because the brazilian government is so protectionist, i couldn't make the transfer and wouldn't be able to make it ...how could anyone imagine (other than the usual paranoid ones who will not even trust their own d*cks)...
LOL, the paranoid ones have been right so far here and in other threads and about other members, in the mean time a mentally healthy noob needs to be saved by his government or else he would have lost 50K.
You have not learned anything yet, Freud.
  • #12,516
  • Sep 5, 2010 12:31pm Sep 5, 2010 12:31pm
Quoting CindyXXXX
Its a scammers goldmine

1 - People dont knw much about finance generally and with all the BS about will listen to anyone wiling too give them the time of day

2 - Facts, charts, results, strategies are easily manipulated,

3 - THe easyness of trading, leverage etc makes it a lazy optin for get rich quick junkies

In a nutshell people are blinded by the lights - The scammers simply extend their hand and lead them into their dungeon
The same is true of futures trading, but it doesn't have the proliferation of scams that forex has.

I think the difference is that anyone with $100 can start trading forex.
That brings in the deep, deep beginner crowd- fresh off the cabbage truck.

Forex is a scammer's paradise.
  • #12,517
  • Edited 4:28pm Sep 5, 2010 4:15pm | Edited 4:28pm
Well, I admit, he had me fooled.

But, I was sure in good company:

"Since i am here and although i am sure there are a few good people here like jacko and a few others it will become a breeding ground for the very people i have sought to seperate myself from for 5 years."

James16 - 11/25/09
  • #12,518
  • Sep 5, 2010 4:49pm Sep 5, 2010 4:49pm
Quoting billparoli
Well, I admit, he had me fooled.
Well, touché.

Seriously, though, Bill - can you really get good parmigiano reggiano and veal cutlets & such when you're in the joint, y'know, like they did in "Goodfellas"...?

If I'm gonna have to do time I want to know I can do it in style.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #12,519
  • Sep 6, 2010 3:22am Sep 6, 2010 3:22am
Hi everyone,

I was a member of Jacko's group and I really enjoyed the experience. I did not trade like him, but I gained a lot of good insight.

Anyway, I can't tell if he was a scam or not, but I remember, that he fixed trading jobs for three members of the group. He also had a guy flown over to him from Australia to compare trading notes.

Does anyone know anything about these stories? Were the trading jobs real? Did really a guy from Australia visit him on Jacko's costs?

BTW: I don't trade anymore and I feel more free than ever in my life! I decided not to invest my time anymore on something foggy as FX, but now I'm doing concrete stuff. Way more fulfilling, way better and way more rewarding.
  • #12,520
  • Sep 6, 2010 3:34am Sep 6, 2010 3:34am
Interesting: After gainning a lot of good insight, still feeling foggy. Is this a magic power of Jacko?

Quoting hendrix
Hi everyone,

I was a member of Jacko's group and I really enjoyed the experience. I did not trade like him, but I gained a lot of good insight.

Anyway, I can't tell if he was a scam or not, but I remember, that he fixed trading jobs for three members of the group. He also had a guy flown over to him from Australia to compare trading notes.

Does anyone know anything about these stories? Were the trading jobs real? Did really a guy from Australia visit him on Jacko's costs?

BTW: I don't trade anymore and I feel more free than ever in my life!...
3 traders viewing now