• Home
  • Forums
  • Trades
  • News
  • Calendar
  • Market
  • Brokers
  • Login
  • Join
  • User/Email: Password:
  • 10:04am
Menu
  • Forums
  • Trades
  • News
  • Calendar
  • Market
  • Brokers
  • Login
  • Join
  • 10:04am
Sister Sites
  • Metals Mine
  • Energy EXCH
  • Crypto Craft

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

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

  • Commercial Content
  • /
  • Reply to Thread
  • Subscribe
  • 903
Attachments: Jacko's Forex House of Pleasure and Pain
Exit Attachments

Jacko's Forex House of Pleasure and Pain

  • Last Post
  •  
  • 1 23Page 456 656
  • 1 Page 4 656
  •  
  • Post #61
  • Quote
  • May 1, 2007 4:40am May 1, 2007 4:40am
  •  canados
  • | Joined Aug 2006 | Status: Thanks james16group | 283 Posts
Great thread Jacko,
I read all about you.
I see that you're a medium/long term trader. Isn't a 50 pips stop loss/trailing too tight for that trading?

thanks
 
 
  • Post #62
  • Quote
  • May 1, 2007 6:26am May 1, 2007 6:26am
  •  jacko
  • | Membership Revoked | Joined Mar 2006 | 923 Posts
Quoting kharvell
Disliked
Jacko,

Firstly, your success is an inspiration. Secondly, thank you for posting your methodology in one place like this. I've always heard mention of you around the forum but hadn't ever seen any of your posts(through no fault but my own for being too lazy to search ) You have simplified my charts immensely!

Anyway, I have been using your 5-year-old technique for about a week now on various pairs combined with an entry technique I have found elsewhere on the forums and have managed to snag some great results between last week and today. I've had no need for the "anti-hedging" technique(yet), but that is a GREAT idea. Just thought I'd show my results here and tell you thanks again.

Regards,

Kevin
Ignored
Hi kharvell

Congratulations on your good results.

Even though you haven't used the anti-hedge yet, it is good to keep in your trading tool box.

.
 
 
  • Post #63
  • Quote
  • May 1, 2007 6:35am May 1, 2007 6:35am
  •  jacko
  • | Membership Revoked | Joined Mar 2006 | 923 Posts
Quoting jacko
Disliked
Am in at 1.3600.
Ignored
Trailing stop got me out at 1.3628 for 28 pips. Pips won are starting to get smaller...normally means a retracement is nearby.

When market is strong and streaking away, it is usual to make 100-150 pips at a time.

Having said that this market looks like retracing, I am NOT recommending that anyone "short" this market.
 
 
  • Post #64
  • Quote
  • Edited Aug 12, 2007 3:35pm May 1, 2007 6:41am | Edited Aug 12, 2007 3:35pm
  •  jacko
  • | Membership Revoked | Joined Mar 2006 | 923 Posts
Quoting Isotonic
Disliked

jacko - is this live trades journal again? - i'm demoing the 4h euro (only trade daily live).
Ignored

Hi Isotonic,

No, this will not be a live trades journal....been there, done that....If anyone is seriously interested in seeing the "emotion" and "excitement" of that, then they can look at the previous one at Dailyfx.
Rather than give traders here a fish (or trade), I would rather that they learn how to fish (trade) so they can get as many fish as they want.

.
 
 
  • Post #65
  • Quote
  • May 1, 2007 6:49am May 1, 2007 6:49am
  •  jacko
  • | Membership Revoked | Joined Mar 2006 | 923 Posts
Quoting FxBabe
Disliked
Jacko, thank you.

How do u decide if a trend has ended?
Is it by the break of the trendline? But sometimes even if a trendline has been broken (meaning price has closed underneath it) the general trend is still the same (using your bottom left to top right method).

Thank you and please continue helping us.

Regards.
Ignored
Hi FxBabe,

I like to see a trend line broken (meaning price has closed underneath it) a couple of times, then a "confirmation" rally back to the resistance line and then another decline.
However, remember that I use medium to long term timeframes,so they dont happen that often. Thats why I like Forex and the Euro....they are very "trendy" markets.


.
 
 
  • Post #66
  • Quote
  • May 1, 2007 6:52am May 1, 2007 6:52am
  •  jacko
  • | Membership Revoked | Joined Mar 2006 | 923 Posts
Quoting Westie
Disliked
Hi libertao
Below is the previous trade from jacko, you have your numbers wrong there,
Just stopped out at 1.3631 (1.3681 minus 50 pips = 1.3631)


you notice he was stopped out for a profit, so that trade is done with, no
anti hedging is applied to it, then he looked for a new trade, which was retrace back to a 00 number, and he entered at 3600 for another run up,
and now he is either stopped out for 30 pips profit, or still in the trade.

hope that helps.
Ignored
Hi Westie,

Your analyses are correct. Out for another 28 pips profit.


.
 
 
  • Post #67
  • Quote
  • May 1, 2007 7:00am May 1, 2007 7:00am
  •  jacko
  • | Membership Revoked | Joined Mar 2006 | 923 Posts
Quoting canados
Disliked
Great thread Jacko,
I read all about you.
I see that you're a medium/long term trader. Isn't a 50 pips stop loss/trailing too tight for that trading?

thanks
Ignored
Hi canados

Hmmm...sometimes I think it is but you have to draw a line in the sand somewhere.

However, in the unlikely situation that you have VERY good reason to believe that you DESPERATELY NEED to be back in the market... then the key advantage to this business is that you can get back into a trade in about 1.5 seconds...

But I wouldn't recommend it...


.
 
 
  • Post #68
  • Quote
  • May 1, 2007 7:08am May 1, 2007 7:08am
  •  jacko
  • | Membership Revoked | Joined Mar 2006 | 923 Posts
To Westie, canados, FxBabe, Isotonic, kharvell and others who are contributing to this thread.


It is good to see you discussing things, thinking about them and working things out. It is much more rewarding to me compared to the normal "I am new and can you tell me your next trade in advance" email that I have been receiving. One earlier email even said "I haven't read your thread because I don't have time but can you tell me...."

So congratulations on being pro-active in your learning processes.

.
 
 
  • Post #69
  • Quote
  • May 1, 2007 7:52am May 1, 2007 7:52am
  •  SeekingLight
  • Joined Jul 2006 | Status: Charts + PA > * | 3,251 Posts
Quoting jacko
Disliked
Hi FxBabe,

I like to see a trend line broken (meaning price has closed underneath it) a couple of times, then a "confirmation" rally back to the resistance line and then another decline.
However, remember that I use medium to long term timeframes,so they dont happen that often. Thats why I like Forex and the Euro....they are very "trendy" markets.
Ignored
Hiya Jacko =)
I'd be interested at which lows / spots you'd draw the current "main trend" trendline for EURUSD. I.e. connecting which weeks on weekly or monthly, so one gets a rough idea of what you personally look at (and comparing with one's own trendlines, obviously).
I'm sure Iso would also be very interested, he'sa dem lov' a' dem trendlines, mon!
Oh, and do you go by lows or by close to draw them?

Take care,

SeekingLight
Trust price. Know yourself.
 
 
  • Post #70
  • Quote
  • May 1, 2007 9:14am May 1, 2007 9:14am
  •  kharvell
  • Joined Dec 2006 | Status: call me Kevin | 1,263 Posts
Quoting jacko
Disliked
To Westie, canados, FxBabe, Isotonic, kharvell and others who are contributing to this thread.


It is good to see you discussing things, thinking about them and working things out. It is much more rewarding to me compared to the normal "I am new and can you tell me your next trade in advance" email that I have been receiving. One earlier email even said "I haven't read your thread because I don't have time but can you tell me...."

So congratulations on being pro-active in your learning processes.

.
Ignored
Jacko,

Being a threadholder myself, I know EXACTLY what you mean. In the least arrogant way possible, some newbies just don't get it. It's always got to be a on a silver platter.

Again, I'm trying not to sound arrogant, but with the way you've worded your explanations, I'm not quite sure how anyone with a decent understanding of forex could NOT understand it.

Anyway, my mini-rant is over. Thanks again jacko! You're the man! If my results continue as they have been, I will be sipping margaritas in paradise like you in no time

Regards,

Kevin
 
 
  • Post #71
  • Quote
  • May 1, 2007 9:46am May 1, 2007 9:46am
  •  jacko
  • | Membership Revoked | Joined Mar 2006 | 923 Posts
Quoting canados
Disliked
thanks
even if sometime the stop is tight there is the anti-hedging ;-)
I don't think you use anti-hedging everytime you are stopped out. So, there is a little bit of discretion, because,even if the price come back to the point where you was stooped, you also think that the price will continue with the original trend...so it's not totally mechanical
Ignored

Hi canados

You are correct. The anti-hedging is VERY important to my trading.

As long as I have the major trend direction correct, I cannot lose money. If I make a mistake in the short term, because of a minor retracement, then I know that I will get ALL those losses back when the market resumes its primary, dominant direction. The ONLY way to get hurt is to be wwwwwwrong on the primary trend.

As a result, I have become VERY confident in my trading.

.
 
 
  • Post #72
  • Quote
  • May 1, 2007 10:17am May 1, 2007 10:17am
  •  jacko
  • | Membership Revoked | Joined Mar 2006 | 923 Posts
Quoting SeekingLight
Disliked
Hiya Jacko =)
I'd be interested at which lows / spots you'd draw the current "main trend" trendline for EURUSD. I.e. connecting which weeks on weekly or monthly, so one gets a rough idea of what you personally look at (and comparing with one's own trendlines, obviously).
I'm sure Iso would also be very interested, he'sa dem lov' a' dem trendlines, mon!
Oh, and do you go by lows or by close to draw them?

Take care,

SeekingLight
Ignored
Hi SeekingLight,

I draw trend lines for weekly, daily and 4hr. I use the lows.


For those of you who like trend lines as a major indicator, I have just found this on another site....regarding support and resistance lines...thought that it was interesting...(I am still to refining my skills on these lines...)


Quote
Disliked
Trading these lines can be very profitable, and you can do away with indicators if you follow a few simple rules...

1. The steeper the line the shorter it lasts, keep your stops tight if it moves away quickly. Keep your stops just above (resistance) or below (support) the line.

2. The price will always move back towards the support or resistance to test it, if there’s been a sizeable move, wait for the consolidation to bring it back to the line, then trade.

2. You need at least three touches (or points in a line) to confirm that it is a support or resistance level. Two is not enough. If the price action moves away fast from the line connected by these points it’s probably the dying gasp, but don’t trade until you hit that line again.

3. A good way to choose an entry is to look for an established line and follow it up with sell orders a few pips below (support) or buy orders above the line (resistance) in the opposite direction.

4. If a “trend” is older and you're not sure if it's going to break or not, wait till you're on the line and then straddle it, that way you can get into an older move. I wouldn’t recommend this though; rather wait for a change in direction. Once you’re into the rhythm you’ll almost always have an open position.

5. If you’re not sure phase in your trades, add to your position every ten or twenty pips.

6. Breaks off support and resistance are generally confirmed by big bars or a big bar, so if you see one on a line you know the “trend” has probably changed.

7. Price does not like support or resistance levels. It mostly tests them and then moves away quickly. You’ll rarely find much price action in the vicinity of the line. If price is hanging around a support or resistance level, it’s likely to break in the opposite direction.

8. If the market is moving up you only trade the support line, if down you only trade the resistance line...




The above is valuable for determining entry points.
.
 
 
  • Post #73
  • Quote
  • May 1, 2007 2:51pm May 1, 2007 2:51pm
  •  pippocket
  • | Joined Apr 2007 | Status: Member | 46 Posts
Quoting jacko
Disliked
Hi Isotonic,

No, this will not be a live trades journal....been there, done that....If anyone is seriously interested in seeing the "emotion" and "excitement" of that, then they can look at the previous one at Dailyfx.
Rather than give traders here a fish (or trade), I would rather that they learn how to fish (trade) so they can get as many fish as they want.

.
Ignored
Hi Jacko
Thank you for choosing not to post your trades here. I have seen this happen in other threads and it makes it very difficult for those of us that are serious about learning and becoming successful traders. This will surely create a much better learning environment for all of us. Thank you for taking the time to share your knowledge and experience with us. It is greatly appreciated. I still have a lot to learn, but I do believe that I am gaining a little better understanding every day. I am determined to be a " fisherman".

regards
pippocket
 
 
  • Post #74
  • Quote
  • May 1, 2007 3:02pm May 1, 2007 3:02pm
  •  johnedoe
  • | Membership Revoked | Joined Dec 2005 | 2,298 Posts
Quoting pippocket
Disliked
Hi Jacko
Thank you for choosing not to post your trades here. I have seen this happen in other threads and it makes it very difficult for those of us that are serious about learning and becoming successful traders. This will surely create a much better learning environment for all of us. Thank you for taking the time to share your knowledge and experience with us. It is greatly appreciated. I still have a lot to learn, but I do believe that I am gaining a little better understanding every day. I am determined to be a " fisherman".

regards
pippocket
Ignored
Well put pip.....
Same Whore .... Different Dress
 
 
  • Post #75
  • Quote
  • May 1, 2007 7:51pm May 1, 2007 7:51pm
  •  mason
  • | Joined Dec 2006 | Status: Member | 105 Posts
I also want to learn from live trades, with charts if possible.

Isotonic,

You have drawn so many TLs, which one is your primary, which ones are your secondary ?


Quote
Disliked
3. A good way to choose an entry is to look for an established line and follow it up with sell orders a few pips below (support) or buy orders above the line (resistance) in the opposite direction.

this is a good technique if price is consolidating along the trendline and you can use stop orders to anticipate breakouts. not as reliable on smaller timeframes though. i do this all the time on the daily - not so sure how reliable it will be on 4h with all the sucker breaks you get.
Is it buy stop order or buy limit order (MT4 terms) ?

Thanks to Jacko to start this thread.
 
 
  • Post #76
  • Quote
  • May 1, 2007 9:14pm May 1, 2007 9:14pm
  •  pippocket
  • | Joined Apr 2007 | Status: Member | 46 Posts
Quoting FxBabe
Disliked
I was actually looking forward to jacko's trades, so that I can see if I am taking the same trades as he is, to confirm I am reading the chart the way he is.
Ignored
I do understand wanting to compare your trades for confirmation of your abilities and from reading some of your posts it is obvious you are committed to learning. However I am sure you have seen what happens when trades are posted. Many members confuse teaching and learning with a free signal service, which distracts from those of us that are trying to learn. It is not my intention to take anything away from from our learning process. Just my thoughts on this.

regards
pippocket
 
 
  • Post #77
  • Quote
  • May 1, 2007 9:17pm May 1, 2007 9:17pm
  •  hilmy83
  • Joined Jun 2006 | Status: Do NOT tilt | 5,708 Posts
hey Jacko

can i ask you what's the largest drawdown you ever experienced using your technique?
Working towards CME membership
 
 
  • Post #78
  • Quote
  • May 1, 2007 10:06pm May 1, 2007 10:06pm
  •  jacko
  • | Membership Revoked | Joined Mar 2006 | 923 Posts
Quoting jacko
Disliked
Trailing stop got me out at 1.3628 for 28 pips. Pips won are starting to get smaller...normally means a retracement is nearby.

When market is strong and streaking away, it is usual to make 100-150 pips at a time.

Having said that this market looks like retracing, I am NOT recommending that anyone "short" this market.
Ignored

Market is showing weakness...retracement is very near (I think)...standing aside from market...waiting for a better (lower) "buy" entry point.

For super aggressive traders, a "short" position looks a viable option. (I just dont do that type of trade!!!).

.
 
 
  • Post #79
  • Quote
  • May 1, 2007 10:35pm May 1, 2007 10:35pm
  •  Snuffleupagus
  • | Joined Mar 2005 | Status: Member | 143 Posts
I wouldn't normally trade against the trend. However, I will be playing the break of this TL that has been working as s/r. Hope I am not....."wwwwrong".

Just want to add.....thanks for starting this thread Jacko. Some good discussions should come out of it. A couple weeks ago I went through all your posts and compiled the main ones. Good stuff.....just bad timing on my part. Something new that stood out for me in this thread was your Asia comment. My mind has been on that track as well. Also I like to travel there and think of it as a possible place to move to in the future.
Attached Image
 
 
  • Post #80
  • Quote
  • May 2, 2007 12:57am May 2, 2007 12:57am
  •  accrete
  • Joined Jan 2006 | Status: Pips Ahoy! | 1,130 Posts
Greetings : )
I think i read about 200+ posts by Jacko today and enjoyed each one, thx for your time and insights Jacko!

Some might have read a few of my recent posts and realized this month is a right of passage of sorts for me...i realized that my luv of the shorter time frames (60m and under) was not compatible with my long term goal of having a life with my wife and trading too! So i've whacked myself upside the head and began looking in earnest toward the longer term TFs and charts.

I found this thread via a fellow trader (many thanks!) here at FF that was kind enough to PM me that there was value in the posts...that is an understatement!

I'm looking forward to studying and applying that knowledge and taking the trades along with the gang here as the opportunities present themselves.

: ) Thom
 
 
  • Commercial Content
  • /
  • Jacko's Forex House of Pleasure and Pain
  • Reply to Thread
    • 1 23Page 456 656
    • 1 Page 4 656
0 traders viewing now
  • More
Top of Page
  • Facebook
  • Twitter
About FF
  • Mission
  • Products
  • User Guide
  • Media Kit
  • Blog
  • Contact
FF Products
  • Forums
  • Trades
  • Calendar
  • News
  • Market
  • Brokers
  • Trade Explorer
FF Website
  • Homepage
  • Search
  • Members
  • Report a Bug
Follow FF
  • Facebook
  • Twitter

FF Sister Sites:

  • Metals Mine
  • Energy EXCH
  • Crypto Craft

Forex Factory® is a brand of Fair Economy, Inc.

Terms of Service / ©2022