Hi guys!
May I ask the reasons for Jacko using the 1hr TF to trade of?
May I ask the reasons for Jacko using the 1hr TF to trade of?
Chicky's House of Pleasure and Pain 11 replies
Carry Backet w/ Jacko's AH 10 replies
Hello Guys is a pleasure to be here. I'm new to MT4 1 reply
Jacko's P&P Trend Trading Method 73 replies
DislikedIn Jacko's initial posts, he mentions that he 'keeps an eye on the fundamentals' but his method is first and foremost a technical strategy.
That being said, what is the consensus about the course of action when a major fundamentaly announcment is due, such as tonight's ECB Press Conference?
I'm in long at the moment, currently sitting 130 pips up, with a 100 pip trailing stop loss.
But who knows what will happen at 12.30 AM Friday morning (New Zealand Time). So, can I have a show of hands please?
Who would:
A) Leave 100 pip trailing stop loss...Ignored
DislikedMy own opinion with the news is just stay out of it's way.
If you leave the position open, then you are basically tossing a coin.
Look at it this way; if you work all week, and then come home on Friday with your pay packet, would you toss a coin to double it or lose it?Ignored
DislikedI have been following Jackos thread for 6 months now.
He is an incredibly good and successful trader.
I know you have to adapt in this market and he is now using smaller time frames.
But if he is now using 1 hour charts and no longer trend trading, what is the method?
For a five year old it is very simple. Weekly, day, and four our chart, the trend is UP.Ignored
DislikedHi guys!
May I ask the reasons for Jacko using the 1hr TF to trade of?Ignored
DislikedIf you checked the 4 hr chart previous to the last trade it was in a southern trend.Ignored
DislikedHmmm... I can't see it. Assuming we are still following the original method (i.e. simple left to right analysis of a 300 bar chart) I can't see a southern trend in any way, shape or form. Perhaps I am looking at the chart wrong! If so, perhaps you would be so kind as to post a chart explaining what you mean?
Thanks,
DanIgnored
DislikedIf you checked the 4 hr chart previous to the last trade it was in a southern trend.Ignored
DislikedHmmm... I can't see it. Assuming we are still following the original method (i.e. simple left to right analysis of a 300 bar chart) I can't see a southern trend in any way, shape or form. Perhaps I am looking at the chart wrong! If so, perhaps you would be so kind as to post a chart explaining what you mean?
Thanks,
DanIgnored
DislikedI want to post an update but feel I should be fair to turnip15 and Trndsurfer by giving them time to post a chart and explain first. Maybe we all can learn something that way.Ignored
Dislikedi think they mean the retracement from 23/9 - 2/10.
apropos of nothing, a lot of people seem to be piling on Jacko for one loss making trade!Ignored
DislikedHi,
If you zoom out on the 4H chart so that it shows the required 300 bars, you can clearly see that the trend is rising from mid August, the point at which Jacko starts his rising support trend line.
KeanIgnored
DislikedJust remind me, does Jacko's system attempt to trade with the trend, or against it?Ignored
DislikedIn my opinion it is in a pretty clear uptrend. Looking at a roughly 300 bar chart I see the left hand side at around 1.4100 and the right up at around 1.4700 - 1.4800.
There certainly seems to be a lot of confusion as to what we are supposed to be trading here. I think it may pay to re-read the first page of this thread again. I don't mean to be rude to anyone (and this isn't directly aimed at you turnip15) but this method is crazy simple! It doesn't need to be overcomplicated!
Regards,
DanIgnored