Jacko's Forex House of Pleasure and Pain

Did any of the authorities get involved in the end with the Jacko saga? Anyone got an update on the latest?

There are so many scams out there now days everyone needs to do their due diligence and make sure people they are dealing with are not out to take their money.
No one can stress enough on what people need to research on before jumping in on something.

I believe that Hong Kong Police are investigating it.

Yes, I remember Jack'O very well.

I did battle with him about his mysterious trades with self-correcting time-lines, entries, take-profit levels, disappearing stop levels and the all too familiar, disappear trade act.

FXCM, used to coddle the many over there (Dailyfx). They gave him his own thread, and allowed him to run-a-muck. I began auditing/following his trades closely and found numerous times where he blatantly altered the entry after the fact and claimed victory over the trade, even after it had long been stopped out. I also did battle with his minions, who flew like Demons to his defense, anytime I would point out an after-the-fact action that Jack'O would take.

And, yes - after I put him to a public challenge, he did say that he could not accept it, because he was in China, at the time, vacationing with his wife - poor woman. Of course, he never accepted the challenge and continued to pull in folk from the net.

He asked me to trade his capital for him once, on a private "deal" that he was interested in "arranging" with me, after he saw my trade journal on DailyFX. When I told Jack'O, that I was not interested in being a fund manager, or selling anything to anyone, he immediately became irate and began trashing my trade journal. FXCM, then shut down my trade journal for merely making successful trades and for challenging Jack'O.

This was when DailyFx was in the middle of their forum transformation. They then allowed Jack'O to set-up shop. He opened a thread called "Jack's House of Pain and Pleasure," where upon he began puling in the faithful, in droves. The thread contained nothing about trading, but was used instead as a flop-shop for the Jack'O Fan Club. Eventually, I left the forum in disgust with FXCM for allowing it to happen.

As far as I am concerned, FXCM, is just as much responsible for Jack'O and his meteoric rise into oblivion, as Jack'O himself. They never pulled the plug on his bogus trades, despite the fact that his trades were continually being called into question for their mystical and variable "after-the-fact" nature. They shut down a perfect fine trade journal containing real-time trades, real-time trade results and discussions about the underlying principle used to make the trades. Yet, they allowed a guy who was basically faking his trades, to continue on forever.

There is more to the Jack'O story than most of you know. I tried to warn people on DailyFx, but he had way too much help, for a guy having no real trade record to mention on DailyFx.

My believe, is that his help came from the inside. Ironically, shortly thereafter, Kathy and Boris left FXCM, to establish their own business. Not sure if this was related to the Jack'O fall out, or whether or not they simply wanted to get away from FXCM, but I always thought the time was impeccably odd.

History never fails us - people do.

Then that matches his statement to me years ago, that he was indeed in China. But, he expressly told me that he could not accept my challenge, because he was on "vacation with his wife, in China." Now, it is possible that he could have lived in China, and been on vacation in another part of China. But, he put himself out as having residence in the U.S. and that he would be back (to the U.S.) from a vacation in China, shortly.

Now, I find out he actually lived there, years later. Or, that he had some kind of office [physical presence] there.

Folks,

You are so much better off, just taking the time to learn the ropes of this business yourselves. You don't need a guru. You just need the time to do the research, homework and study necessary to become proficient as a trader. The rest is academic.

There are a lot of ways to net pips. Find one that is comfortable to you and one you can live with - stick to it and don't give up. You can be successful at this, but it will take time. And, you can do it without "donating" to a strange pocketbook.

Learn the ropes by studying the ropes. Define the type of trader you want to be, how much capital you have to work with, how much time per day you can put into this business, what your risk levels look and feel like, what time lines you have for expected results - then develop the skills necessary and a plan that will get you to your desire goals. No - it is not easy at first, but it does become a lot easier, once you develop a baseline set of skills and knowledge to work from.

You don't need to lean that heavily on the Jack'Os and TROs of the world. You can learn from them, by learning from their mistakes - just like you can learn from anyone else. But, ultimate, long-term success in this business comes down to what YOU know about how to get into and out of the market efficiently.

Efficient entries and efficient exists will always be the name of this business. Do what it takes to net pips each time you enter the market. You can never go broke by getting ego out of the way, and taking pips off the table, whenever and wherever you can.

Be patient, think strategically but act tactically and prepare yourself for success, before it happens - mentally.

Care to elaborate?

Thanks for sharing.
What described here sound like a fox to me.
Any links that I check what Jacko has done in FXCM or Dailyfx?

He kept claiming that he lives in Hong Kong. But this doesn't mean that it is necessary a fact.

True, but this is only for someone who sincerely want to spend the effort to learn, rather than someone looking for some "quick-fix" or "something-for-nothing". But you know there are much much more people belong to the latter rather former in this world.

Once I told a friend of mine (who always told me he want to earn much more money) that I can give him trading signals to trade, so that he doesn't need to learn technical analysis. What I find that he can't be bother to do this.

He said how about I trade for him and give him a steady return better than interest rate. But I don't like trading for other. So, no deal.

Those who knew from start i think are mainly people who says things AFTER FACT...

Because they have many years to post something and they didnt and .. WOALA - they say things when everyone knows all

Best,
Tom

Evryone, if anyone has ever seen jacko, please tell if the following is him (the old guy on the right with white hair)

It has been literally months since I have been on here. I was actually (what turns out now) one of the saps who caught the Jacko Fever. It has been a time of great loss for me since Easter, and I haven't been trading since then. I hadn't even tried to log into Jacko's blog until I signed in here again this morning and saw the scattered bits and pieces of the tale of woe. Needless to say, when I tried to log into his Blog, surprise, surprise, I couldn't.

At the risk of having hundreds of people telling me to RTFT, can someone tell me in 50 words or less, what happened?

PPP

- Jacko started a fund
- Jacko guarennted 30% p.a with his own money (lol)
- People send him their life saving
- Jacko is gone

thats not Jacko thats my grandfather

Very interesting post, Wave Top. Thanks for sharing your battle with Jacko in Dailyfx forum. I think I read somewhere (in this thread?) that Jacko did bragged about his posted winning trades in Dailyfx forum. Kind of curious why he defected from there to set up shop here in FF? Do you have any links to some of his Dailyfx posts. I am a member of an investor group who are unitedly working with the HK Police to hunt down Jacko the scammer. Some of his earlier digital info left in Dailyfx forum will help the police investigation. If you don't mind sharing some info, you can PM me if you like. Thanks.

I think this is might be Jacko now

http://www321.pair.com/cpprfsh/luckybastardsanta001.jpg

here is the link to jacko dailyfx forum thread
http://forexforums.dailyfx.com/threads/2373-only-people-live-trades-jackos-pleasure-pain-conversations.html

I was a long client of Jacko and based off his blog maybe "Miss Jackson" made him steal since he seemed to reference her often.

Good thing I only lost 750 for his service sounds like lots of people got raked over the coals.

Thanks for that.

Hmmm... Yeah, well, I didn't see that coming. I guess though, given that this is not the first time that this sort of thing has happened on FF, its to be expected. It was the first time that I got involved financially, even though it was only as a subscriber.

Ringing in my ears right now is the dozens of times that I have read in this forum: If is looks too good to be true, it probably is!

Lesson learnt!

PPP