I honestly cannot understand why anybody feels the remotest need to speculate where price will go next. The charts will reveal all. Just exercise patience, and keep a resolutely open mind. You really don't need any more.

Jacko's Forex House of Pleasure and Pain

I suppose that its a two stage process. The demo-ing and back-testing shows whether a system or method is potentially profitable. Trading with 'real' money at stake then begins to determine whether you are personally compatible with the method ...

Help for Newbies (Discussion Thread)

Absolutely spot on. I remember a quote from the J16 thread. In fact it's pinned up on the wall next to my screens. "I do not get paid for trading, I get paid for waiting".

Jacko's Forex House of Pleasure and Pain

The statistical probability which you rightly mention is the 'edge' which Wayne's trading method has. The 'edge' is easily identifiable as trading with the trend, thus increasing the odds of the market going in your direction and, also, giving you a ...

Jacko's Forex House of Pleasure and Pain

The biggest issue which I have with counter-trend entries is the problems which they cause to the anti-hedge strategy. When you counter-trend you are effectively climbing without ropes. It's possible to do, but inherently dangerous in comparison to ...

Jacko's Forex House of Pleasure and Pain

Don't beat yourself up on this trade. I'm also in it, although every bone in my body was shouting "NO!" at me. The critical thing is that we learn to be able to accurately second guess Jacko's entries, and subsequently to be able to evaluate and ...

Jacko's Forex House of Pleasure and Pain

Congrats. Now, anything about No. 4 which is unclear? "4. stop thinking that you have to "outsmart" the market. You don't have to..this business is very easy if you leave your brain at the door....just follow the trend = follow the money =going with ...

Jacko's Forex House of Pleasure and Pain

It isn't about being right or wrong. It's about wanting to keep this thread intact. Go look around FF, specifically at most of the older threads. They usually follow the same flight path. Firstly, the originator lays out a system or method. This is ...

Jacko's Forex House of Pleasure and Pain

I just asked my youngest son to pop into the room to clear up any ambiguity. Guess what..................

Jacko's Forex House of Pleasure and Pain

Can you sum up the system which this thread is devoted to?

Jacko's Forex House of Pleasure and Pain

In an uptrend, at the bottom of the channel. In a downtrend, at the top of the channel. In a ranging market(once the range is established), at either top or bottom. If the range is not established, then following the direction of the previous trend. ...

Jacko's Forex House of Pleasure and Pain

Tbh, if I ever end up looking at a screen and having to 'guess' which direction price has been moving in, then it's time to turn the computer off.

Jacko's Forex House of Pleasure and Pain

All 'reasoning' is hypothesis. Trade what you see-not what you 'guess'.

Jacko's Forex House of Pleasure and Pain

Couldn't agree more, and I hope that my bull-in-a-china-shop manners don't cause offence. None intended. I always keep a wary eye out for phrases like: "I think the market is due a fall" "I believe the market is going down" "I have a feeling that we ...

Jacko's Forex House of Pleasure and Pain

Another Great Man within Forex Factory once said, "If you can't trade a sideways market consistently at breakeven or better, you have ZERO chance of success in this business". The first question is when can you define a range? Price has only been up ...

Jacko's Forex House of Pleasure and Pain

Really important point to make here. Remember Jacko's original principles? The one about looking at the chart on your screen, and if you get confused asking the 5 year old to tell you which direction it's going in? That way you ensure that you only ...

Jacko's Forex House of Pleasure and Pain

That makes it right then.

Jacko's Forex House of Pleasure and Pain

And how exactly have you deduced that?

Jacko's Forex House of Pleasure and Pain

Cable — Pretty picture....

No Brainer Trades

Interesting to note the fib retracement level we are currently sat on top of, using the pre-crash market high to the credit crunch market low.

Jacko's Forex House of Pleasure and Pain