The market reveals who we really are...
The ForexMick Trade Journal- Jacko style 198 replies
Trading Euro ONLY for Jacko Style traders 111 replies
theadam('s) Jacko style, Live trade journal. 5 replies
forexben's eurusd jacko style journal 7 replies
Jacko style trades (collective journal) 12 replies
DislikedWell keep in mind this is kind of an experimental thing, ie nothing is fixed. Jacko only trades eu full stop so anything we come up with here is completely untested...so far the 45 has worked out ok, but Im open. I think clouds idea of the leave stop at breakeven and move it up after 100 could be ok too, especially based on the possibility that this is the bottom ...but definitely its all new ground we are covering here. And dammit I dont care how I just want to make pips every month ...Ignored
DislikedThe ATR is a good tool for sizing your stops.
I use 2/3 ATR for my stops on the EUR/USD which makes it about 75 instead of 100..... it has been working well.
I can't see any reason for it not working for this pair ( AUD/USD ) or any other for that matter.Ignored
DislikedHi TZ,
thanks for your input, nice post. Above is from page 1 of this thread, where Johndoe gave me the idea for the 45 tsl. ATR is definitely the way to go, its just getting the number right isnt it? On my last trade 70 would still have knocked me out for example, and given me a loss as well, but maybe on others it would have kept me in longer, so its a tossup. I guess this means Im going to have to get my hands dirty and do some back testing...not so difficult really since there are few trades/month with this method...again, thanks for your ideas, very nicely put and useful. RazIgnored
DislikedThing is, given that Jacko's method is not a scalping strategy, you could have quite a large stop and grab much of the swing before the change. The difficulty is in working out when it's run out of puff. That's why Jacko uses 100 pip stops on E/U. I think 80-90 is a sensible stop loss on A/U.
BTW looks like A/U is gathering up its skirts for a dash north.Ignored
DislikedThing is, given that Jacko's method is not a scalping strategy, you could have quite a large stop and grab much of the swing before the change. The difficulty is in working out when it's run out of puff. That's why Jacko uses 100 pip stops on E/U. I think 80-90 is a sensible stop loss on A/U.
BTW looks like A/U is gathering up its skirts for a dash north.[/quote]
...feels like weve been in a 20 pip range for ages now...Ignored
DislikedHey, I didn't say it would. I said, "it looks like" which is very much different to "it is". In other words, I never predict the market.
Technically, it is still more likely to head north until it breaches yesterday's low.
What we should be looking for is whether it breaches an 85 or 100 pip stop from yesterday's high. It would be interesting for gauging in a live setting whether 85 or 100 pips would mean we're still in a trade. (Of course, a single trade isn't enough to confirm but it will help.)Ignored
DislikedI know you were joking. I thought it would be interesting to explore what I meant, though.
That's the problem with trying a new pair, we're going through the investigatory process that Jacko went through a couple of years ago. I'm sure we'll work out the best stoploss size eventually.
Currently, if you had a 100 pip trailing stop, you'd be about 80 pips loss but still in the trade, so we'll have to see. Doesn't look promising, though.Ignored
DislikedHmm dont get your math, I got in at 0.9550, so with a 100 pip hard stop I would only be down 38 pips now, and max would have been down 51...with a 100 trail I would still be in, just, but down 38 pips...whats your low btw? RazIgnored
DislikedHi All
threads moving along nicely i see.
well i'm looking at drop into 9450-9400 area, i'll then see what happens before i add the longs.
as a side note i'm looking for 1.5550-1.5500 on Eu partly to activate my AH, but also thats were i see support, were at a nice TL and i expect a little tail to drop through just far enough to get me back in.
only time will tell, plus i'm a little rusty.
regards
MPPIgnored
Disliked...fortune telling skills erm ... lol
update knocked out -1, we need to see 0.9499 before my AH is activated (jeez do I bother with an AH on a 1 pip loss )Ignored