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Chicky's House of Pleasure and Pain 11 replies

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Hello Guys is a pleasure to be here. I'm new to MT4 1 reply

Jacko's P&P Trend Trading Method 73 replies

Attachments: Jacko's Forex House of Pleasure and Pain
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Jacko's Forex House of Pleasure and Pain

Quoting jacko
Hi cesarnc

Thanks for the encouragement....

My wife has just read the last couple of posts that I wrote and has suggested that I just concentrate on my making my trades (and giving her lots of good loving...).

I think she was annoyed because she could see that I was little annoyed at the cynical post by tdion

It was actually because of her that I stopped posting on dailyFX, because she said that I was getting more stressed from the posting than from my trading...

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I'm also reducing my FF time. Too much time trying to fight the Counter-Trend Trade Church. You don't want to mess with it, I tell you... Think there's a fundamentalists wing in it, too. Too good there's no Forex Building to be attacked by suicidal bombers....

Just kidding a little... Choppy days are annoying, although they are usually followed by nice fireworks on the day after...

I'm just happy of getting a beautiful bottom at 9850/70 area in cable, as it worked as very bottomish as would be expected... Now it's time to sit and wait.
To me Jacko's method is more like "investing" approach rather than "trading". The reason most people have disagreements here because Forex market was "promised" :-) to be profitable regardless of the direction of a certain pair. Jacko views EUR as a stock. Buy low and keep it and then buy more, cut losses if there is a significant reversal and then wait for uptrend to buy again. Pretty good when there is that strong uptrend that we see for EUR so far. And the strategy is 100% by the book. Good tactic. I guess spotting a major reversal and a strong countertrend is the difficult part here and it may put you out of the trades for quite a long time. I am sure with profit Jacko made it would not be a bad thing at all (long awaited vacation) :-) After that I guess the stock will be called USD and the tactic continues until again there is a reversal and Jacko sticks to the EUR stock again. I guess if you look at it from a VERY LONG time frame, it IS indeed "trading" rather that "investing" but again, most people, I am included, look at Forex as a day-to-day activity to make money. I gotta sit back and think about it when I get some free time. Who knows, maybe I should change my tactics, or at least adapt some VERY LONG term strategies into my short term trading style. So farm I am sticking to Mutual Funds for long term and Forex for short term, bur Mutual Funds are not that profitable now as they were 10 years ago.

Jacko, thank you for interesting, live results, inside info about your Forex trading strategies!
Quoting jacko
Hi cesarnc

Thanks for the encouragement....

My wife has just read the last couple of posts that I wrote and has suggested that I just concentrate on my making my trades (and giving her lots of good loving...).

I think she was annoyed because she could see that I was little annoyed at the cynical post by tdion

It was actually because of her that I stopped posting on dailyFX, because she said that I was getting more hassled from the posting than from my trading...

.
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Hi Jacko,

Thank you very much for you posts. We study a lot from them.
I have a small question. Since a long trend is a peculiarity of not just EUR/USD, why do you trade just EUR/USD

Thank you again for all your help
IPipDetective
anyone have an open position with jacko's method?

thanks
Quoting FxBabe
anyone have an open trade with jacko's method?

thanks
I have traded trends for a long time. i have been in and out of GBPUSD on the long side for some time now. My latest trade started last Friday and was at 1.9868 and is still in place.

The daily chart showed a great entry place with a dip to the trend line, and a bounce.
Quoting jacko
My wife has just read the last couple of posts that I wrote and has suggested that I just concentrate on my making my trades (and giving her lots of good loving...). I think she was annoyed because she could see that I was little annoyed at the cynical post by tdion
Cynics are everywhere. Many here appreciate your work jacko. Down in their hearts, many people know the only way to help yourself is to help others. You have a clue. Most here pretend they have IMO. Stick with it. It's appreciated.
Do not focus on making money; focus on protecting what you have.
Jacko

Thankyou for sharing your experiences and reinforcing the message to trade with the trend!

Please ignore the sceptics - those who are serious about trading successfully take your words, study them and apply them to the best of our ability.

As a newbie in Forex, I'm making the inevitable mistakes but trying hard to cut losses and let profits run.....need to improve entry technique as well.

Currently have one trade open - EURCAD, poor, late entry level today @ 1.4997 SHORT (stop 1.5047) ......I'll let it run and see what happens, trailing stop at 50 points day by day.

All the best.
another question for you. Do you believe it is better to open a position say with 3 lots then scale out or do you think it is smarter to open a position with 1 lot then scale in? or scale in then out..

anyone with experience is welcome to answer this but I prefer that jacko state his opinion as well
Hi Jacko,

When you say, "put an order in at your exact same figure as your stop" are you saying to go in the same direction as your original stop or as your original order.

Eg, Buy order stopped out by a sell stop. Put the subsequent order in as a buy or a sell?

Thanks for all of this help....
Scarlett
Quoting Scarlett
Hi Jacko,

When you say, "put an order in at your exact same figure as your stop" are you saying to go in the same direction as your original stop or as your original order.

Eg, Buy order stopped out by a sell stop. Put the subsequent order in as a buy or a sell?

Thanks for all of this help....
I think I can answer this for jacko:
basically if you opened a long position, if you are stopped out you would place a buy stop in the place of where your stop was. this way, if the price crawls back up then you will be in the correct direction of price. hope this helps, and more so hope I answered it properly.
Quoting superdezign
I think I can answer this for jacko:
basically if you opened a long position, if you are stopped out you would place a buy stop in the place of where your stop was. this way, if the price crawls back up then you will be in the correct direction of price. hope this helps, and more so hope I answered it properly.
Here is the confusion:

Post 5 Scenario 2 # 5:

" ...market comes back around and starts to head in the OPPOSITE direction. The market picks you back up on its new direction"

"...and you are now in the same direction as the market is moving..."

Obviously if you are stopped out you are going in the wrong direction and essentially what Jacko is saying is that this is a "delayed" close and reverse, I think. simple question: does Jacko mean "put the order in the same direction as the original market entry or as the original stop?

Eg, long position, stop is sell, ie short. NOw I am putting on the position at the stop. Do I put on a long position or a short position?

Thank you for this clarification.

Cheers!
Scarlett
Quoting Scarlett
Here is the confusion:

Post 5 Scenario 2 # 5:

" ...market comes back around and starts to head in the OPPOSITE direction. The market picks you back up on its new direction"

"...and you are now in the same direction as the market is moving..."

Obviously if you are stopped out you are going in the wrong direction and essentially what Jacko is saying is that this is a "delayed" close and reverse, I think. simple question: does Jacko mean "put the order in the same direction as the original market entry or as the original stop?

Eg, long position, stop is sell, ie short. NOw I am putting on the position at the stop. Do I put on a long position or a short position?

Thank you for this clarification.

Cheers!
The opposite way to which you were stopped out. If you were originally short and price went up and stopped you out then you want the price to go the opposite way. Back the way it was when you made your first trade.

Why would you want to go the opposite way if you are following the trend?
Quoting cesarnc
Just got in during this last visit to 3601 (long). Thought I'd lost the opportunity when it was 3620s, but got back again...

Trailing SL 50 pips to exit
I got the same position. Gonna wait and see what happens. If this position fail I'm gonna employ anti-hedging lol.
Jacko only trades in the direction of the long term trend.

I assume that means any anti-hedging trade would always be placed in the direction of the long term trend.

It would always have a 50 pip trainling stop.

If you are trading the EUR/USD this means you would only ever make long trades.
quote of the day: . It's like deja-vu all over again
I think I understand everything that has been written on this thread, but what do you do when the price is ranging or the trend is about to change direction?

EURUSD looks like it has been ranging for weeks and now it looks like it might change directon.

Couple that with the fact that Bloomberg reports traders are reducing Euro exposure.

Commets anyone?
If it's too good to be true, it probably is.
sorry simon, I'm no expert either,

but,

if you pull up a weekly chart you'll see a that the last time price reached this high was in dec 2004.

It caused a dramatic drop in the value of the Euro. This means it is likely to produce strong short, maybe even medium term resistance to further rises in the Euro's price.

Earlier in this thread Jacko predicted that a fall in price was soon to be expected, though he remained confident that the overall trend would still be in favour of a higher euro.

Seen as Jacko trades using the long term trend I feel it is wiser to look at longer term charts first in order to gauge where we are currently sitting.

Again if you look at the weekly chart you should see that the current upward trend started in January of this year and has not really abated until this moment.

Jacko suggests entering after price has fallen to bounce off trendlines at round numbers and the 50% fibonacci retracement.

If you draw some trend lines on the weekly charts, you will see possible entry points in the regions I outlined in my last post.

The strongest long term trendline gives support at 1.2900, which would be at a 100% retrace of the trend seen since January.

If this trend line fails, then it gives evidence of a shift in the long term trend, since there is no trendline to offer support below this level.

I may, on the other hand, be talking complete hogwash.
quote of the day: . It's like deja-vu all over again
with all due respect, Jacko has all ready posted his reasons for his trades.

buy/sell with the trend
few trendlines, 50% Fibo
and round numbers

Lets all remember one thing, Jacko left DailyFX because of people asking the same questions over and over,when they could be answered a few posts earlier, and then they started getting aggressive wanting a response.........Jacko is doing everyone a favor posting anything here, lets not scare him off

The med, and long term trends will not be easily seen on the intraday charts......try looking at the weekly charts for a clearer picture

here is my take...jacko, please correct me if I am wrong.........the blue area is the last 50% retractment..........looks like we could be due for another retractment ............

.Jacko, thank you for sharing your information, it is valuable and respected,

take care everyone.......
Rsq955
Attached Image
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Quote:
Originally Posted by luqmanz
I got the same position. Gonna wait and see what happens. If this position fail I'm gonna employ anti-hedging lol.

I entered at 1.3603 and just got stopped out. Are u still in that trade?
Im going to now employ the anti-hedging method, going to wait for the price to go down 50 pips then im going to put a buy stop where I was stopped out.

My SL got hit. I'm gonna put AH order when it hits 3500-ish.
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Eur/Usd 60 mins

if this candle closed above the line
than this would be an in sign on this system?
am I missing anything?

thanks

TEB
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Eur/Usd 60 mins

So in this system a breaking of any of these lines is important
But remember the train is only going north?
I think I have this right?

the black line is the 4 hour TL
the red lines are the 50% fibs & swing high & lows
which is also the 0 & 100 fibs

(the chart above -the candle clearly closed below so we have no in yet)

TEB
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