Jacko's Forex House of Pleasure and Pain

I think you pretty much got the idea. That is what makes the most sense.

Now that the Euro is back on track against the dollar, perhaps good old Jacko will soon reopen for buisness??

hello fellow traders !
Anybody still make use jacko's trading style?
i'v been following this jacko's thread since the beggining of my trading journey! and i still believe in his principle and methodology that's going with the strong trend only !
Eventhough,i'm not the one is included in his private trading group but i benefited alot with his principle,approach and methodology way of trading.In fact ,i'm making money and my account keep growing slowly over time !
thanks to jacko to make trend trading really fits my trading profile and i have a strong belief in going with the long term strong trend,that's euro the only pair i will be going with untill it shows me 1st it has turn and i will be thingking to short this market in the future !

Hi,

I don't think you're likely to get many friendly responses for thanking Jacko (given that he turned out to be a scam artist) but I thought I should just add that my trading approach is based on the basic premise of trend trading (added a couple of extra things but not much) and it works very well for me.

Trading with a strong trend is always a good thing and is actually relatively easy to do - so long as you can recognize the difference between a trending market and a ranging market.

Regards,

Dan

Have you read the thread for the last 1 year?

yes ! i found that many said he was a scammer, some said he has run with other people money under his managed account project !
i'm aware all these thing, but what i want to hightlight here is his way of trading approaches,methodology and phschology are something usefull and very helpfull in following the trend !
thought,i don't say what he thought here in his thread is the perfect approach to trading. when we come to the market there's no certainity but increassing our odd success in the game of probobility ! yeah ! his AH strategy has generated a few losses too and i still use that AH strategy as add on to my other approaches to trade the trend.his guidelines and tips about markets and trading are very usefull i think.
trading is all about managing risk and the most important thing is our account ballance at the end.

he could not even trade the method he blew up,ah strategy is crap he should of scaled in.
managing risk he could not even do that all he managed to do was a very clever scam and ruin a few peoples lifes.glad he is your hero the guys a crook and should be in jail

That is the heart of it I think. Nothing wrong with his basic method aside from the anti-hedging part. He fell into the emotional trap which in and of itself doesn't say much for his trading skills.

Is this where jacko has been hiding? JACKO? (http://www.traderplanet.com/profile/jacko426)

so the venerable JACKO turned out to be the Fraud of the Decade ???!!!


hope people didn't lose a lot of money in his Managed Account.................

What CRAP is this..????? Fraud of the Decade....???

HUHHHHhhhhhhhhhhhhhhhhhhhh?????This pissey little amount..

biggest fraud on ff,more was stolen than you will ever make in your account dont kid yourself danc

so how many victims were there and how much was stolen ?


if such a ''worshipped'' member also turned out to be a scammer, how many conmen are out there ?!

Its been discussed if youd bother to read the thread...

Can´t beleave this is happening in FF...

Not really FF's fault. If people are willing to hand over money to someone they have never met and who is not registered then they must be pretty dumb.

Having said that I feel pretty sorry for anyone who was ripped off. I hear one guy on FF lost $70K !!

Oh no....don´t get me wrong... I did not mean that was FF fault at all, I am just surprise about this issue cos mostly people here are just trying to help each other...and getting ripped off like that because you trust people is nasty...

Hope it never happens again...

I was shocked to find out that Jacko turned out to be a scam artist. I hope it is not true. But then who is NewbieTrader101 that said he met him? Are they the same person?

Anyway I had written the below to ask him and those that uses his techniques of anti-hedging and trend following before I found out someone had complained about him. I hope someone can point out the real techniques he uses and whether did it really make money in a big way for you as claimed by Jacko and Newbietrader101.

------------------------------------------------------------------
To twentyquid and all followers of Jacko's techniques of anti-hedging and trend following:


I am a newbie and I have read over 60 of the posts in this thread and I must give thanks for bring me back to reality as some of the things he said is quite logical.

I have been trading on small time frame of 5 mins and even go down to 1min for past few months but found out it is not profitable. Day trading I believe now is for suckers. And many of us still believe in it because our stop loss in day trade small time frame chart is small and attracted by the idea of "not holding any position and hence can sleep better." But in reality day trading from my experience really sucked away our energy.

I really hope you can help me in this scenario where the trend on daily chart is still trending (primary trend) but the dilemma is how to enter and more importantly how to exit once we are in, knowing that holding on to position over days will require very big equity to play.

Currently (today May 19th, 2011) for EUR/CHF, the 50% Fibo is far off for it to retrace back up on daily chart.

My question I am going to ask is at which price do we put on a short now since it is downtrending so far off from 50% Fibo?

Would greatly appreciate if Jacko and whoever was in his inner group can confirm whether you do the following steps in your daily analysis:

1. Draw trend line, Fibo Retracement and Support/Resistance on Weekly chart
2. Draw trend line, Fibo Retracement and Support/Resistance on Daily chart
3. Draw trend line, Fibo Retracement and Support/Resistance on 4 hourly chart

Which chart and Fibo 50% do we execute our trade since now there are so many Fibo lines across the 3 time frames?

Just to comfirm, do we wait for either one the following criterias to hit before entering a trade:

1. retracement to 50% on daily chart?
2. or retracement to any round number price?


Instead of 50% fibo and round number for you to enter a new trade or scale up your positions which sound like not very convincing as it is not an objective way of trading. It more like an arbitrary numbers:

1. Why we do not based on retracement to nearest resistance and price come back down again below it to enter or add on a short position?

2. Do you take a trade on breakout of channel breakout 55 days to the downside since here the primary trend is bear?

3. Do you use price channel breakout as the Turtles did?

I sincerely hope you can give some pointers using today EUR/CHF market above as an example.

I attach here a screen shot of today daily chart for your reference with 50% Fibo Daily Chart highlighted in light yellow. I had EMA 10, 20 and 200 drawn on the chart together with Bollinger band and 20 days and 55 days price channels.

Would also appreciate if you can share the other new mentor's techniques.

Hi JerryAP

If you drop me a PM with your email address. I think I should be able to answer any questions on Jackos trading you have ....

So did Jacko ever resurface? Would be interesting to find out if he just plain scammed everyone and ran off to the Bahamas or if it was a case of him genuinely blowing up his fund...

I've heard of people going full tilt and losing a few million in a day before...

Anyone hear or know anything?