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Jacko's Forex House of Pleasure and Pain

  • #12,521
  • Sep 6, 2010 3:52am Sep 6, 2010 3:52am
Quoting kk007
Interesting: After gainning a lot of good insight, still feeling foggy. Is this a magic power of Jacko?
At the time, I enjoyed it. But trading FX left me empty. It's not a job. It's a lazy man's hobby. I found 1000 times more fulfillment in doing work, that can be seen, that is touchable, that makes the world a better place.

EDIT: I don't want to argue about that and this is probably the worst place trying to convince anyone about it. If you people feel fine trading FX, then do it, I wish you a lot of luck, but I found my happines elsewhere.
  • #12,522
  • Sep 6, 2010 4:12am Sep 6, 2010 4:12am
HAve a listen there are some relevent themes here/ Good song too


http://www.youtube.com/watch?v=5fpLHqyBxiQ&feature=related
Time hides Nothing
  • #12,523
  • Sep 6, 2010 4:38am Sep 6, 2010 4:38am
Quoting hendrix
I don't want to argue about that and this is probably the worst place trying to convince anyone about it. If you people feel fine trading FX, then do it, I wish you a lot of luck, but I found my happines elsewhere.
Glad you have found happiness elsewhere, I wish you a lot of luck!
  • #12,524
  • Sep 6, 2010 5:04am Sep 6, 2010 5:04am
[quote=User Name;4000405]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...

I was in Jacko's first group and paid 2x$500 for the access to his blog, was aware of the fund but was never solicited to invest in it. I rarely followed his signals ( and never used the AH which didn't make sense to me) but I enjoyed reading his daily insights and admired his patience in waiting for the trade to come to him. This year his patience was way too much as he would wait and wait and finally give up and enter the market just as it was turning and reversing. During the first two years he would pay attention to PA and fine tune his entries (and sometimes exits) but lately he would leave a pending trade for days sitting there like a duck waiting to be hit and stopped out as was the case with his very last trade.
I still find it very hard to believe that he would construct such an elaborate scam but all evidence certainly points to that.
  • #12,525
  • Sep 6, 2010 7:15am Sep 6, 2010 7:15am
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!...

let me put it like this..theres no trace of the person this was not a accident where theres no trace..and u believe that people were flown over to see him and he got jobs for people in FX

seriously u got to be kidding right!?

[quote=Argonaut;4001928]
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 not what I planned when I joined, but I didn't take trades unless they made sense to me...
Quoting User Name
I was in Jacko's first group and paid 2x$500 for the access to his blog,...

the scam was probably fail safe..no doubt he want to keep this running and much as possible..but bailed b4 people think.."i want my money"
  • #12,526
  • Sep 6, 2010 7:33am Sep 6, 2010 7:33am
[quote=Argonaut;4001928][i]
Quoting User Name
During the first two years
have a look at EURUSD d1 in those two years lol
  • #12,527
  • Sep 6, 2010 7:53am Sep 6, 2010 7:53am
When I was starting out a couple of years ago I followed Jackos thread and some of his info is still useful to me today. I still swear by 50 fib and use 00 numbers to look for s+r.
I know this is not unique to jacko and I could have found this info elsewhere but the fact it has turned out he was a scammer is sad really.

The others I followed were James16 who is still going strong but now making stupid amounts in subscriptions so did he use FF for his own gains too?

BillyValentine was the other I followed (I think that was his name) and he is still helping newbies and his nobrainertrades website is awesome and worth a visit.
No man is smart, except by comparison to those who know less!
  • #12,528
  • Sep 6, 2010 8:00am Sep 6, 2010 8:00am
Lets for a moment assume he actually did trade - risk free of course, using "investors" money. Be kind - say he recieved funds of "only" $500,000. Now as it's risk free, lets say he "risked" 5% per trade. Now let's imagine just how much he may have racked up as the Euro dropped in 2008 from 1.60 to 1.27, and then maybe how much he racked up in 2009 as it climbed back to 1.50.
IF he did this, using the "trades" he posted in those years I'd say it's safe to assume a several $m increase. Of course IF he received considerably in excess of $500k there is no saying what he could have amassed.

As someone who actually did feel he deserved the benefit of doubt until shortly after the decision to "call it a day" I have to say my judgement was seriously poor and now I hope the barsteward rots in hell, and in jail prior to that.
  • #12,529
  • Sep 6, 2010 10:00am Sep 6, 2010 10:00am
Hello All,

New to the forum but I'm not Jacko!! Have been a member of his private site for about 18 mths and recently found this thread. If anyone's interested attached is a list I made of all the trades from his site. Here's a quick summary:

2007: 11 trades 319 pips
2008: 45 trades 1540 pips
2009: 55 trades 457 pips
2010: 27 trades -381 pips

On the list Trend refers to his normal trade, AH to Anti-hedge and CT Counter Trend. As noted previously his Anti-hedge system was pretty hopeless: 20 trades for 154 pips. His Counter Trend method even worse: 9 trades for -521 pips. But his basic trend method okay: 109 trades for 2302 pips.

He's had a miserable run since the beginning of May which presumably brought about this disappearance. The last 8 trades have been losers for -975 pips. IMO some of those trades were shockers and with hindsight maybe a desperate man taking more risks.
Attached File(s)
File Type: xls Jacko trades.xls   30 KB | 444 downloads
  • #12,530
  • Sep 6, 2010 10:23am Sep 6, 2010 10:23am
Quoting herbert2266
Hello All,

New to the forum but I'm not Jacko!! Have been a member of his private site for about 18 mths and recently found this thread. If anyone's interested attached is a list I made of all the trades from his site. Here's a quick summary:

2007: 11 trades 319 pips
2008: 45 trades 1540 pips
2009: 55 trades 457 pips
2010: 27 trades -381 pips

On the list Trend refers to his normal trade, AH to Anti-hedge and CT Counter Trend. As noted previously his Anti-hedge system was pretty hopeless: 20 trades for 154 pips. His Counter Trend method even worse:...
I hear u but like I said b4 ..this person cannot be traced that is no accident and suggests 100% it was a scam..

right now for the people that have lost they need there money or closure, having pity for the jacko character is a waste of emotion
  • #12,531
  • Sep 6, 2010 10:27am Sep 6, 2010 10:27am
Quoting hendrix
Hi everyone,

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?
I think it's safe to say that was a lie too. He didn't fly anyone from Australia, he didn't even live in Hong Kong, he lived in Singapore. Making up that story was just his excuse of trying another method. Also I doubt financial institutions would hire someone with 6 months experience to handle their multi million dollar accounts.


Quoting Argonaut
[i] I rarely followed his signals ( and never used the AH which didn't make sense to me)
The AH is misunderstood by many, but it's a very useful tool if used correctly. His trading style is to place an order at a discount with the trend, if you get stopped out by volatility the idea is to let the market move at least 50 pips past your stop, place a pending order where you were stopped out and when the trend finally decides to continue it will pick up your order, but if you were wrong about the trend your order doesn't get picked up. It doesn't work for people that don't know what they are doing are are placing trades in the middle of a range or against the trend, then they use the AH and blame it that it does't work.
It's NOT GAMBLING when the odds are in your favor
  • #12,532
  • Sep 6, 2010 10:28am Sep 6, 2010 10:28am
Quoting strangemartian
When I was starting out a couple of years ago I followed Jackos thread and some of his info is still useful to me today. I still swear by 50 fib and use 00 numbers to look for s+r.
I know this is not unique to jacko and I could have found this info elsewhere but the fact it has turned out he was a scammer is sad really.

The others I followed were James16 who is still going strong but now making stupid amounts in subscriptions so did he use FF for his own gains too?

BillyValentine was the other I followed (I think that was his name) and he is still...

james 16 is different..that man is something is all i can say!!all the success i have today is due to that grp and i have free membership till 2037..i had to pay for a year but that worked out good as well..

when u pay it forces u to learn cause yur paying..he actually makes a comitment along with other seniours to get to making money..
he really is a good person..i know people hear this over and over but i have to credit where it is due..and a comparison against jacko is not just i simply got lucky i almost went with jacko cause it was cheaper but something abt jim i liked..and i joined (was a good decision)
  • #12,533
  • Sep 6, 2010 10:30am Sep 6, 2010 10:30am
Quoting herbert2266

He's had a miserable run since the beginning of May which presumably brought about this disappearance. The last 8 trades have been losers for -975 pips. IMO some of those trades were shockers and with hindsight maybe a desperate man taking more risks.
Yeah, the poor guy. But what about his "company address that was a fake for all this time? He's been invisible right from the start.
  • #12,534
  • Sep 6, 2010 11:17am Sep 6, 2010 11:17am
[quote=nAVIN2007;4002134]let me put it like this..theres no trace of the person this was not a accident where theres no trace..and u believe that people were flown over to see him and he got jobs for people in FX

seriously u got to be kidding right!?

Quoting Argonaut


the scam was probably fail safe..no doubt he want to keep this running and much as possible..but bailed b4 people think.."i want my money"
This is not what I am saying. This is what was written in his blog, and I was wondering, if anyone knows anything about it. Anyway, forget it.
  • #12,535
  • Edited 4:08pm Sep 6, 2010 3:53pm | Edited 4:08pm
I understand your point but everything looks easy and simple in hindsight. Of course if Jacko was only paper trading (he must have been doing at least that to keep the track of the trades) than "risking" $2000 per pip is not such a big deal. LOL
I hope Jacko is apprehended and the investors get at least some of their money back. Personally I'm angry and embarassed for having been fooled by this scammer for so long.

[i][quote=Argonaut;4001928]
Quote:
Originally Posted by User Name
During the first two years
have a look at EURUSD d1 in those two years lol
__________________
  • #12,536
  • Sep 6, 2010 3:59pm Sep 6, 2010 3:59pm
Are you saying that you have been more successful with the AH than Jacko
(the AH creator) himself?
******************************************************
Originally Posted by herbert2266

"... his Anti-hedge system was pretty hopeless: 20 trades for 154 pips..."

*******************************************************
Quoting User Name
...The AH is misunderstood by many, but it's a very useful tool if used correctly....
  • #12,537
  • Sep 6, 2010 4:06pm Sep 6, 2010 4:06pm
Quoting Argonaut
Are you saying that you have been more successful with the AH than Jacko
(the AH creator) himself?



******************************************************
Honestly I haven't compared my AH results with Jacko's, because he had a lot more losing trades than me. Many of my entires were different than his, but it has gotten me back in the trend the few times I was stopped out. I would only use it if the trade went between 50-125 pips past my stop, anymore than that I would consider another entry.
It's NOT GAMBLING when the odds are in your favor
  • #12,538
  • Sep 6, 2010 4:10pm Sep 6, 2010 4:10pm
Quoting nAVIN2007
james 16 is different..that man is something is all i can say!!all the success i have today is due to that grp and i have free membership till 2037..i had to pay for a year but that worked out good as well..)
Regardless of the efficacy of his training, IMHO, there are some serious red flags with that company. The potential of commingling of assets between two companies is one issue; the fact that the corp./co. agents are related is an entirely different one. Readers can come to their own conclusions/opinions.
Attached Image
  • #12,539
  • Sep 6, 2010 9:13pm Sep 6, 2010 9:13pm
[quote=billflet;4002499]

You are doing great job by staying vigilant and alerting us about the potential scammers. Don't know if that's the case with this particular guy but if he fudges the numbers with such trivial things he cannot be trusted with anything he says or does.

http://www.forexfactory.com/showthread.php?t=240177
  • #12,540
  • Edited 10:15pm Sep 6, 2010 10:05pm | Edited 10:15pm
That whole thing turned into more than I intended. I was just trying to get him to clarify that one point, but rather than explaining, he began to argue.

To be fair, his Murray Math thread was good and had a large following.

Right now there is a guy on here who joined in January 2010 as a complete noob, 17 years old, and asking for any help he could get. Now, 9 months later, he's planting seeds by talking about his robots that have been trading with a 95% win rate over the last two years of actual live trading?! Of course they are proprietary and his "company" hasn't decided if they'll market them yet. But when they do, they'll be offering all sorts of investment products. Oh yeah, and he started a thread in the rookie section asking about "How to become a money manager". I'm sure he's okay though.

Time seems to have different properties in the trading world, or at least here on FF. Another guy (with a thread in the lounge) had 20 years experience last year. Now, a year later he has 30+.
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