Hi Phonetic, Anyone can succeed in this "trading" business. But you need to see trading as a little bit different to how you approach a normal job. In a "normal" job, you are expected to "work hard" and "rush around" and "look eager" and "be ...

Jacko's Forex House of Pleasure and Pain

Another issue that wannabe traders should consider is this: The "salary" has never been a truly reliable safety net....Unemployment is rising very quickly...and in the coming depths of the recession when very high unemployment will reach levels not ...

Jacko's Forex House of Pleasure and Pain

Hi Jamie, It is good seeing members of the group "paying forward" to other novices on this thread and other threads. We have been been very fortunate with our trading. We are still achieving very good results to date. In a time where Hedge Funds are ...

Jacko's Forex House of Pleasure and Pain

Hi Capt, I am glad that you got your "fix"...LOL I don't recall missing a day on the private blog since the group first started... because I actually look forward to putting all the details on it each day. It is a great medium to communicate with ...

Jacko's Forex House of Pleasure and Pain

Why?? The other members are doing a great job of giving you the answers. I am busy with my two small groups of traders (who are doing very well !!!). But I still come here every couple of days and have a look to see if everyone is being nice to each ...

Jacko's Forex House of Pleasure and Pain

Old timers??!!!......Ouch !!! LOL . Jacko

Strat's Long Term Stress Free Trading

Warning from Thomas Jefferson — In light of the present financial crisis, it's interesting to read what Thomas Jefferson said in 1802: "Banking institutions are more dangerous to our liberties than standing armies. If the American people ever ...

Jacko's Forex House of Pleasure and Pain

Now lets see where the US is putting its funds One example: Citigroup has received $45 Billion ($25 Billion and $20 Billion) in TARP payments from the Govt Citigroup has received $2.7 Billion from asset sales (sale of Smith Barney) Citigroup has ...

Jacko's Forex House of Pleasure and Pain

What is China going do do with its Trillions — Hi all, There has been considerable discussion on various threads here as to whether China is looking to dump its Trillion dollar USD holdings in favor of Euros or Gold etc. This article here is ...

Jacko's Forex House of Pleasure and Pain

Hi Jay, An EXCELLENT summary of how a trader should be thinking. We ALL have bad trades. They are just a "cost of doing business" in this industry. (and it is about the ONLY cost involved in the business). And, as you have said, the Anti-Hedge ...

EURUSD

Hi Forexmick Thanks for your kind words. In regards to your question on inflation/deflation, at the moment we are facing deflation. We will continue to see deflation until the $50 Trillion of total debt (which is swamping the $2 Trillion of bailout ...

Jacko's Forex House of Pleasure and Pain

Hi BB A good explanation of fractional banking is here http://en.wikipedia.org/wiki/Fractional_Banking As to how can fractional banking can bankrupt a bank, the best way to look at fractional banking is that it is leverage. It is similar to a trader ...

Jacko's Forex House of Pleasure and Pain

Hi BB We may be seeing the start of a whole new order of how the world does business. It is the return to basics of banking. The dominance of the “shadow” banking industry, (investment banking and all their exotic/toxic banking products) is clearly ...

Jacko's Forex House of Pleasure and Pain

The market has been volatile in the extreme since August last year. Go and look at a weekly chart and see the HUGE change in the volatility. The answer in these times is NOT to trade more.... It is simply to become much more selective on your ...

EURUSD

Hi bgin2end A friend of mine is an ex-broker and manager of large teams of brokers....He tells me that he has never seen a scalper last more than 12 months as a full-time trader...the pressure is too intense, you tend to overtrade and you very ...

EURUSD

Hi bgin2end there are a couple of things that I emphasise to the group of traders that I am mentoring: Firstly, I look to EVERY trader in the group to improve as a trader as a result of being in the group. (That is, I haven't seen any trader become ...

Jacko's Forex House of Pleasure and Pain

NOOoooo !!! Didn't you know??? It's "Be kind to Old Guys" day. Only comes around once a year. Today's my lucky day... . Jacko

EURUSD

Hi alyehoud, I agree with everything in the first paragraph. The second paragraph: I trade large numbers of lots. (Leverage is not that high). Large number of lots X positive pips = $$$$$$$$ $$$$$$$$ X power of rapid compounding= excellent % ...

Jacko's Forex House of Pleasure and Pain

NOoooo!!!! Not at all. But I am very grateful that he didn't call me a dead leg end

EURUSD