Jacko's Forex House of Pleasure and Pain

I agree & could not have stated it better. These forums are littered with sharks & the small fish are swimming in everyday & being eaten alive before they know what happened.

It will never stop.

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Good question, I have thought about that as well. I don't think Jacko could have fooled us all (on this thread and in the private group) with empty talk, if he didn't know anything about trading. There're far too many knowledgeable traders here, that would have called him bullshit.

He also seemed very knowledgeable when it came to the fundamentals - no way he could have pulled that off, had he not been somewhat in the know.

I don't think he traded himself, no, but I think he was a former trader because of his authority when it came to the fundamentals.

I think this was a scam from the beginning. What makes me most sad is not the 500 dollars lost (I'll manage ) - but the fact, that if this really was a scam from the beginning - it just goes to show what this world has come to and how sick some people really are. Remember, he fooled thousands of people over such a long time, over several years - that's a long time to pull of a scam, day out and day in. I just can't fathom it, and it makes me physical sick to my stomach to contemplate, how I myself would feel at night, if I had to pull off a scam like that... im rambling, sorry... hahaha

I somehow come to think of the movie Primal Fear, the last scene with Edward Norton and Richard Gere:

Aaron: Mr. Vail, will you t-tell Miss Venable I'm sorry? Tell her I hope her neck is OK.
[Martin walks away and comes back realizing what Aaron said]
Martin: What did you just say?
Aaron: What?
Martin: You told me you don't remember. You black out. So how do you know about her neck?
Aaron: [pauses and stammers, then starts clapping] Well... good for you, Marty. I was gonna let it go. You were looking so happy just now, I was thinking "hmmmm'? To tell you the truth, I'm glad you figured it. 'Cause I have been dyin' to tell you! I just didn't know who you'd wanna hear it from. Aaron or Roy or Roy or Aaron. Well I'll let you on a lil' secret, a client-attorney kind of secret. It don't matter who you hear it from, it's the same story! [stammering, like Aaron] I j-j-just had to kill Linda, Mr. Vail, that cunt just got what she deserved. But... [speaking normally, like Roy] cuttin' up that son of a bitch Rushman? That was just a fuckin' work of art! [Laughs]Martin: You're good. You are really good.
Roy: Yeah I did get caught though didn't I?
Marty: So there never...there never was a Roy?
Roy: Jesus Christ, Marty. If that's what you think, I'm disappointed in you. There never was an Aaron, counselor. [winks] Come on, I thought you had it figured there at the end. The way you put me on the stand like that, that was brilliant. The whole "act-like-a-man" thing. I knew what you wanted. It was like we were dancing, Marty!
Martin: [walking away] Guard!
Roy: Don't be like that, Marty. We did it, man. We fucking did it. We're a great team, you and me. You think I could've done this without you? [Martin continues walking out] You're feeling angry because you started to care about old Aaron, but... love hurts, Marty. What can I say? I'm just kidding, bud! I didn't mean to hurt your feelings! What else was I supposed to do?! You'll thank me down the road, 'cause this'll toughen you up, Martin Vail! You hear me? That's a promise!

I gotta give Jacko, that he fooled me good. Sad but true.

Reminds me of something I read a while back from the Book The Quants. The writer is talking about the king of math none other than Ed Thorp himself here, on his thoughts on Madoff long before the ponzi was known. Here is the excerpt from the Chapter "The Volatility Smile" :

"Thorp decided to simplify his life. He took a brief break from managing
money for others, though he continued to invest his own sizable funds in
the market.
He also worked as a consultant for pension funds and endowments. In
1991, a company asked Thorp to look over its investment portfolio. As he
combed through the various holdings, he noticed one particular investment
vehicle that had produced stunning returns throughout the 1980s. Every
single year, it put up returns of 20 percent or more, far outpacing anything
Thorp had ever seen—even Princeton/Newport. Intrigued, and a bit
dubious, he delved further into the fund’s strategies, requesting documents
that listed its trading activities. The fund, based in New York’s famed
Lipstick Building on Third Avenue, supposedly traded stock options on a
rapid-fire basis, benefiting from a secret formula that allowed it to buy low
and sell high. The trading record the fund sent Thorp listed the trades—how
many options it bought, which companies, how much money it made or lost
on the trades.
It took Thorp about a day to realize the fund was a fraud. The number of
options it reported having bought and sold far outpaced the total number
traded on public exchanges. For instance, on April 16, 1991, the firm
reported that it had purchased 123 call options on Procter & Gamble stock.
But only 20 P&G options in total had changed hands that day (this was well
before the explosion in options trading that occurred over the following
decade). Similar discrepancies appeared for trades on IBM, Disney, and
Merck options, among others, Thorp’s research revealed. He told the firm
that had made the investment to pull its money out of the fund, which was
called Bernard L. Madoff Investment Securities.
In late 2008, the fund, run by New York financier Bernard Madoff, was
revealed as the greatest Ponzi scheme of all time, a massive fraud that had
bilked investors out of tens of billions. Regulators had been repeatedly
warned about the fund, but they never could determine whether its trading
strategies were legitimate."

So the ponzi was uncovered by none other than the King of Blackjack himself and ignored by regulators and others even though the scheme was very easy to detect.


Foot Note; I was one of those who was totally taken in by Wayne Jackson. I did not invest or buy his course, but I believed his story.

jonah1,

Good post. Yes, he did fool a hugh amount of people & will do so again unless he is caught. For all anyone knows he is in the U.S. by now. He is know to be a big fan of obama & his minions.

smJones,

I too read the same info. Thorpe is a blackjack & financial markets master that is for sure. His publications are most interesting reads.

In reference to Bernie, I wonder how many politicians he had on his payroll (political contributions). A blind monkey could have spotted what he was doing, but they stayed hands off because they knew better than to launch anything near a serious investigation into his so called investments. The Wall Street crowd clearly backed obama for what they knew would be a nice payday for them & lo & behold they were correct. A bailout on the backs of everyone else, now it is back to business a usual.

Another sad part to all of these people being ripped of by the Bernie's & Jacko's of the world, it cast a dark light across those that are truely trying to do the right thing for their investors & gives the so called regulators an excuse to add more goverment regulations in the name of protecting the little guy. What a sham we having going in this country now & hopefully it will last only for another 2 yrs if we are lucky.

Just my unhumble views & nothing more.
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He most definitely did trade. Unlike someone else around here who has a commercial website and earns a LOT of money from suckers..errr clients, he would actually post live trades so that is 100% for real and cannot be faked. Of course there is no way to know how much he traded or if it was demo or what.

Also, he did not start that signal service and solicit funds from people until much later on. Years. So I don't believe he started out wanting to scam anyone. The scam would of had to been much larger that it was for someone to do it over the course of years.

Whoever could that be ?

Thankfully for him there's a sucker born every minute

Well, I know he posted his trades on the forum, but I think it was demo - but who knows; maybe you're right. Im just quite cynical about it, I guess.

I still think it was a scam from the beginning, but maybe Im wrong. I hope so. I hope Jacko started out with good intentions, but I somwhat doubt it. I think he had the fund in mind from the beginning, but knew he had to establish himself on FF first, and only time would do that.

In the midst of often complicated and indicatorheavy (and strange) systems here on FF, people were drawn in by simple and sound trading principles, I think. He did give some good advice after all.

And you cannot deny he had a way with words.

He was a good manipulator. I recall how he talked about his traderfriend Mark who didn't want him to spend time on FF, and as I remember people literally begged him to stay. And then if was kinda like ''I really don't have time, and missus says Im already spending too much time trading already, but okay... I'll set up a group, and then we'll see...'' It was all about percieved value.

Anyway, life goes on, I have learned my lesson, and somehow it's not a monetary lesson, but more of a general life lesson about human beings.

His system was sound and parts of it are used by many people around here to this day. So there is nothing fake about that.

Because everything was on the table it was also apparent he started losing money on his trading activity and that was when the problems (and the scam imho) started. He just needed the money. That is the simplest explanation which is usually the right one. No big complicated multi year sting operation. Just simply a gambler down on his luck.

There are a lot of people in forex with the gambler mentality. I always try steer clear of those sorts of people. It's inevitable Forex will always attract the gambler type so I accept that it comes with the territory.

I swear there are cough..j16..cough nazis who spend half the day running a search engine on FF looking for an opportunity to attack anyone who dares to question their beloved deity.

Let's see if the mere mention of the person who never posts live trades yet charges for his advice brings them out of the cracks in the floor shall we...lol!

hubbahubba,

You hit the nail on the head, now lets see what repsonse you get. Oh, by the way I was thinking along those lines also. You just can't beat those cash cow mentors lurking in these forums.....they are so helpful.

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Well I can't say I'm surprised that Jacko "banked his profits."
Based on the evidence I'm inclined to believe that this was a scam from the beginning. Let's examine...

If I spent a couple of years (few years whatever) learning to trade, learning about technical and fundamental analysis etc. and then thought "now, how could I make some REAL money without all the risk?" AHA

I am aware that the Euro is in a bull market (Nov 2005 bull that we now know ran until july of 2008) so I can simply post a simple system and post trade ideas on a forum and try and get people interested. Go with with the trend, simple enough. That's no secret. Buy on dips to lower risk, pretty common practice. But I'll say it's "rarely used".

How difficult would that be for someone with a little experience or at least a basic study of the markets? Not very.

Once I get people interested then I can create a group where I charge a fee for my trading signals (I WILL SCREAM SCREAM SCREAM that they ARE NOT SIGNALS haha but the newbs and experienced sheep alike will take them as such). Maybe I can even dupe some suckers into "investing" funds for me to "trade".

Since I have basic knowledge of the markets I also know a little about psychology. I know that newbie traders WANT to believe they can be successful. If they fail, they will simply think its their fault. It has to be since all of my other students (not to mention several fictitious ones that I will employ for my benefit) will be doing very well and will be profitable haha. Cuz I'm sure that a newb wouldn't say that they are profitable if they really aren't hahahahaha.

Now once I get it rolling, I've got trading fees rolling in and I've got investor money rolling in, I'm gonna ride this baby as long as I can. EASY MONEY HAHA! Creating the "investment fund" will be a piece of cake. I can just copy and paste my trades. Gotta love technology!!

Tips and Tricks:

My name will be Wayne Jackson and extremely common name thats practically untraceable.
My "partner" will be an ex broker with 20 years experience.
Hell, I might as well say I'm a millionaire trading 200 lots, not like anyone will know any different.
Some of my students will go on to make millions themselves and get jobs at prop desks, yeah that'll get 'em jacked!
I can say I'm techno illiterate even though I know how to:
create a website
create emails
post on forums
send international text messages
copy and paste
receive wired money to a bank account
claim that I live in Hong Kong
all without a single shred of evidence that can be traced back


Anyways, that's my take. I was a member a couple years back and after a few months I figured it was a scam because Jacko would post a trade, it would end up a loser, then he would post another trade after the fact to make up the lost pips. That's how it all worked. Just clever manipulation.

Obviously I can't be certain this was a scam from the start but there is absolutely no evidence of this guy existing. More than likely it is a group of people that live outside the US and therefore out of jurisdiction. And if they are scammers you aren't ever going to find them. They made sure there was no trace.

I also invested in some "High Yield Investment Plans" a few years back with the same result. These guys were complete pros. There were outside the US so they could setup these websites claiming 2 percent returns daily or 20 percent a week or whatever, and they would take in money and payout and inevitably they would disappear and then another site would go up. They probably operate these things in large numbers. I even invested in one that ran for over 2 years!! But I lost. I had to. They prey on suckers. Always have always will.

I hope I'm wrong and you folks get your money back, its just a crappy way to learn that there is no easy money out there. If you want to be a successful investor, it is going to take a lot of time, study, practice, MONEY, time, practice, study, study, study, discipline and all that fun stuff.

I have been studying the markets now for 4 years and I still haven't turned a dime in forex, though I've made some in stocks. I'm confident that if I keep my passion for the markets I will be successful to the point that I want to be. You will too.

Here is a famous "SCAM LETTER" from a HYIP operator that might help explain a few things on how internet scamming is done.



Letter to Invex Group members that outlines how they run their scams…

Dear Invex Ltd. Players,
This is a long message and will be the last news you will hear from us… until we open our next HYIP. We want, kindly, recommend you stop losing your time by looking after us. Anyway, for the cyber detectives, here is how we worked.

1 - The basis is having 100% false ID documents. For $200 you get a really nice looking pack of documents, even nicer than legal ones
2- We rented a nice apartment with fast internet in a nice city near the sea, with false documents. We then bought a new desktop computer and a new laptop, installed some fresh [COLOR=blue ! important][COLOR=blue ! important]programs[/color][/color] (http://hyipblog.nobshyip.net/2007/06/22/disgusting-hyip-ponzi-ring-%e2%80%93-fapic-invex-e-bastion-troybank-itrade4u-opentrade-etc/#).
3- We opened a bank account with false documents, put some cash on the account, and got a nice true debit card.
4- We opened e-gold accounts and funded them from the bank account above.
5- A bit later we opened e-bullion accounts, funded by… you, idiots who “invested”
OK? Now we have e-gold, internet, a place to sleep, eat etc, all without possibility to track us. A major question was “Must we open a real company”. We decided that NO, as people are so stupid that they believe all what they read. And you know what? It is true Invex Ltd. and Lomax Group Corp. are pure fantasy
Okay, let’s go to work now!
1 - Opening a domain name and booking a server at the katzglobal scammers’ best place, paying with e-gold.
2- Later, booking a dedicated server and paying with… the debit card coming from the bank account above
3- Renting Prolexic, and paying them by bank transfers from…. an e-gold exchanger The gold came from YOU idiots who “invested” !
To specialists who want to track us by the IP addresses, we kindly recommend you to use Google and look at JAP, Freenet, I2P, TORR, etc. You will understand that our IP come from anywhere in the world, beeing chained between servers who cannot track them. And even if so, the last IP address, the place where we lived, was this nice appartment near the sea, that we left some weeks ago Oh, the computers were given to a charity, after the hard disks were physically deleted
Other pros say “Let’s track the money”! Great idea, but don’t forget that even the ******* muslim terrorists cannot be tracked by the special services
How did we withdraw all your nice donations? That’s easy, thanks to mygcard who supplied us hundreds of anonymous debit cards that our friedns and us used in various countries! Alain Vignard from mygcard received $20.000 cash in hands for helping us to find the ATM with no “$800/day limits”, and telling us how to use the cards at the best. Well, Alain tried to scam us later, but that is another story
We also used bank transfers from the best exchangers, who have no problem at all sending $100,000 or $200,000 every 3 days to bank accounts in Panama, the BVI, etc Nice offshore places outside the EU and the US Track the money there, dear friends!
Oh, about exchangers, we worked with one of them from Australia, and where a bit afraid at the beginning, as he wrote on his website that he “verifies ALL data” from his clients. LOL ! His fee is 2%, we kindly offered him 2% more “to preserve our privacy” Look at our dialogue by email:
- HIM: 2% more is a good offer, but is your gold clean? We don’t want to work with scammers.
- US: Of course, what are you thinking? We are honest businessmen and just want to keep a low profile.
- HIM: OK, i can see you are not scammers, just send me the gold and 4% fee instead of the regular 2%.
Thank you mister G. ))
As I am in a very good mood, I will also explain you something: Most of the biggest HYIP are run by us, a professional team. And when other scammers try to enter our market, BING! If they are interesting people we try to buy them, if not DDOS attacks make them shutdown To be sure our rating is the best one, we also pay the admins of a few monitoring programs, including the biggest and “most reliable” (LOOOOL) one!
Our business is to make money. We use 20% of the money we get to help poor and disabled people around each of us, 20% other is given to some “political” associations that fight against ISLAM (Hey guys from the Emirates, Bahrein, Kuwait, etc etc, did you read this? THANK YOU , and the balance is for us.
We have currently a dozen of HYIP running, are going to close some of them, and of course to open new ones! We are working like this since a few years, and all is working fine!
But you know, it IS possible to make profit from HYIP: Just do it QUICKLY! Look: ([email protected]) made $6,580 profit with us, including the commissions they got by sending YOU IDIOTS, to Invex. These people are really scumbags: They are making profit by making you lose!
As a clever guy told in some [COLOR=blue ! important][COLOR=blue ! important]forum[/color][/color] (http://hyipblog.nobshyip.net/2007/06/22/disgusting-hyip-ponzi-ring-%e2%80%93-fapic-invex-e-bastion-troybank-itrade4u-opentrade-etc/#), “there were no guarantees, so no need to cry”. YEP! We NEVER gave any guarantee to ANYBODY (unless Titanium plans, and you should notice that THESE guys do NOT cry on your forum, try to guess why…!), we even recommended those who ask for guarantees to go to their local [COLOR=blue ! important][COLOR=blue ! important]bank[/color][/color] (http://hyipblog.nobshyip.net/2007/06/22/disgusting-hyip-ponzi-ring-%e2%80%93-fapic-invex-e-bastion-troybank-itrade4u-opentrade-etc/#) They didn’t? THEIR CHOICE!
When reading your forum and others, we really laugh! So, most of you were already scammed by other HYIP? By our HYIP maybe Anyway, it seems that you don’t understand what a teenager is able to understand! So, you continue to “invest” here and there, and that is good… FOR US! For you, I am not sure When I see a GREAT SPECIALIST, the “Andrewunknown”, proudly saying that he lost $40,000 into Invex but that he will recover from other HYIP, WE ARE LAUGHING, FALLING FROM OUR CHAIRS )))) Moreover in his list of “no ponzi”, LOL, some of them are from us ))))

[quote=JimmyPips;4350264]Well I can't say I'm surprised that Jacko "banked his profits."
Based on the evidence I'm inclined to believe that this was a scam from the beginning. Let's examine...

If I spent a couple of years (few years whatever) learning to trade, learning about technical and fundamental analysis etc. and then thought "now, how could I make some REAL money without all the risk?" AHA

I am aware that the Euro is in a bull market (Nov 2005 bull that we now know ran until july of 2008) so I can simply post a simple system and post trade ideas on a forum and try and get people interested. Go with with the trend, simple enough. That's no secret. Buy on dips to lower risk, pretty common practice. But I'll say it's "rarely used".

How difficult would that be for someone with a little experience or at least a basic study of the markets? Not very.

Once I get people interested then I can create a group where I charge a fee for my trading signals (I WILL SCREAM SCREAM SCREAM that they ARE NOT SIGNALS haha but the newbs and experienced sheep alike will take them as such). Maybe I can even dupe some suckers into "investing" funds for me to "trade".

Since I have basic knowledge of the markets I also know a little about psychology. I know that newbie traders WANT to believe they can be successful. If they fail, they will simply think its their fault. It has to be since all of my other students (not to mention several fictitious ones that I will employ for my benefit) will be doing very well and will be profitable haha. Cuz I'm sure that a newb wouldn't say that they are profitable if they really aren't hahahahaha.

Now once I get it rolling, I've got trading fees rolling in and I've got investor money rolling in, I'm gonna ride this baby as long as I can. EASY MONEY HAHA! Creating the "investment fund" will be a piece of cake. I can just copy and paste my trades. Gotta love technology!!

Tips and Tricks:

My name will be Wayne Jackson and extremely common name thats practically untraceable.
My "partner" will be an ex broker with 20 years experience.
Hell, I might as well say I'm a millionaire trading 200 lots, not like anyone will know any different.
Some of my students will go on to make millions themselves and get jobs at prop desks, yeah that'll get 'em jacked!
I can say I'm techno illiterate even though I know how to:
create a website
create emails
post on forums
send international text messages
copy and paste
receive wired money to a bank account
claim that I live in Hong Kong
all without a single shred of evidence that can be traced back
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Excellent analysis - I fully agree Jacko(or whoever) had planned every step from day one.I don't think one person, no matter how smart, can draw up such a meticulous plan. Thanks for the post - I am one of the many that invested with him and lost.

seeths

thats how it happend and thats how he did it makes me laugh when you still get people saying ,i think he started as a trader and the fundamental knowledge he had.(which anyone can find on the net if you look)they say no holy grail,sell a service like jacko and j16 money for old rope and one born every time frame

You losers still beating a dead horse and crying about sharks I see...

and your still reading them and posting dickhead and you was one of his biggest supporters so this thread should carry on and maybe it wont happen again

Oh, it's all my fault now. LOL. Classic!

I was fooled and I was wrong, oh well, lots of folks were..

And looky what we have here. Jacko and James16 are both on your buddy list. Well isn't THAT special!

It's curious how Jacko and James16 always seem to be popping up in the same places. And there is this common cast of characters associated with both of them. Kinda curious doncha think?

spot on hubbahubba

Ha! Enjoy your little witch hunts.