Jacko's Forex House of Pleasure and Pain | Page 74 | Forex Factory

Options

Go to
Permalinks
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

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

Jacko's Forex House of Pleasure and Pain

  • #1,461
  • Jan 7, 2008 1:38pm Jan 7, 2008 1:38pm
Quoting ubeee
BabeFX, you are very kind, but no, it does not help. How can you study an entry that will have a 50 pip trailing stop loss on a weekly chart? A weekly bar is of about 300 pips on average for EURUSD! You need to look at least to 1H TF if not smaller for a 50 pip trailing stop loss entry.



Sorry Bakuli, I really don't want to offend anyone, especially people like you that are kindly trying to help, but you are substantially saying: "if you wait patiently for a high probability set-up ...you should have a high probability entry". Well, that seems very obvious to me, but what is a "high probability set-up"?
You know, patient to wait for something is a great virtue if your are able to recognize what that something you are waiting for looks like, otherwise it's just a waste of time.



For the sake of God, and if not on entries on what would you stress in order to master Jacko's strategy?
Let's have a look together.
Jacko's strategy is basically this:

1) Trade EURUSD
So nothing to stress here, or not???

2) Determine long term trend for EURUSD
Should we stress on this? Jacko very well explained how to determine this long term trend. It's very easy, and in the end if you still didn't get it then, well, Jacko clearly said it for us all: HE IS LONG EURUSD!
Nothing to stress here.

3) Always use trailing stop losses of 50 pips.
Well this seems very easy to me to master. If you don't know how to set up a trailing stop, then this is a problem of knowledge of your trading platform, not surely a strategy issue!
So, again, nothing to stress here, just put on that trailing stop and you have done!

4) AH strategy. Well, as I saw months ago reading some posts of this thread some people got some time to understand the whole working of this part of the strategy, but in the end I would say that this is very clear and also easy. If you get stopped out you wait for the price to fall another 50 pips, then you place a buy stop order at the same price you were stopped out. That's it. Again, if you are not able to do this then this is a problem of knowledge of your trading platform, not surely a strategy issue! So, again, nothing to stress here too.

5) Sizing.
Nothing to stress here. Jacko has clearly said a lot about sizing. He is prudent, he never bet his house on any single trade, he does not trade under capitalized. On the other side he also said that when he get a big win he increases his exposure better compounding the earned money. Nothing extraordinary hard to master here, nothing to stress, and in the end if you are really more risk adverse than he, you simply bet a fixed ratio of your capital (say 1%-3%) and that's it.

And then there is the last point: ... TADA ...

6) ... ENTRIES!
Well, this is the only single part of Jacko's strategy that is totally discretionary. It is not a case that all the other parts of his strategy are so easy, clear, and simple (and even elegant and very well conceived, I would add) to implement that a successful EA for all of them has already been created and works very well, provided that the entries are made by a good trader! Otherwise, I can assure you, that EA loses a lot of money.

So, in the end, entries are the only part of Jacko's strategy hard to master, they are the only things we can stress!
Sorry Niner, you did not convince me.
Hello ubeee - pay the cost join the groupe and let Jacko convince you.
  • #1,462
  • Jan 7, 2008 2:14pm Jan 7, 2008 2:14pm
Quoting ubeee

1) Trade EURUSD
So nothing to stress here, or not???
You can trade whichever currency you like. Jacko prefers this for reasons he has already stated. Some traders in the group have ventured out into other currencies.

2) Determine long term trend for EURUSD
Should we stress on this? Jacko very well explained how to determine this long term trend. It's very easy, and in the end if you still didn't get it then, well, Jacko clearly said it for us all: HE IS LONG EURUSD!
Nothing to stress here.
Things change and while past corrections have generally been short in nature, the current one is lasting a while longer. Jacko nor the group is currently married to the "long" position. There is a way to identify and trade the correction which is beyond the scope of this current thread.

3) Always use trailing stop losses of 50 pips.
Well this seems very easy to me to master. If you don't know how to set up a trailing stop, then this is a problem of knowledge of your trading platform, not surely a strategy issue!
So, again, nothing to stress here, just put on that trailing stop and you have done!
I wanted to touch on this only because some people may be using the trailing off of current price. It is off of a new high...not current price as I understand it.

4) AH strategy. Well, as I saw months ago reading some posts of this thread some people got some time to understand the whole working of this part of the strategy, but in the end I would say that this is very clear and also easy. If you get stopped out you wait for the price to fall another 50 pips, then you place a buy stop order at the same price you were stopped out. That's it. Again, if you are not able to do this then this is a problem of knowledge of your trading platform, not surely a strategy issue! So, again, nothing to stress here too.
Correct.

5) Sizing.
Nothing to stress here. Jacko has clearly said a lot about sizing. He is prudent, he never bet his house on any single trade, he does not trade under capitalized. On the other side he also said that when he get a big win he increases his exposure better compounding the earned money. Nothing extraordinary hard to master here, nothing to stress, and in the end if you are really more risk adverse than he, you simply bet a fixed ratio of your capital (say 1%-3%) and that's it.
Correct.

And then there is the last point: ... TADA ...

6) ... ENTRIES!
Well, this is the only single part of Jacko's strategy that is totally discretionary. It is not a case that all the other parts of his strategy are so easy, clear, and simple (and even elegant and very well conceived, I would add) to implement that a successful EA for all of them has already been created and works very well, provided that the entries are made by a good trader! Otherwise, I can assure you, that EA loses a lot of money.

So, in the end, entries are the only part of Jacko's strategy hard to master, they are the only things we can stress!
Sorry Niner, you did not convince me.
It is not hard to understand nor implement the entries off of this system. I am not as educated on the market as Jacko so I personally trade what I see which is simply a 50% fib....TL.....round number in the area and even better a confluence of them. Granted...if pure price action is showing a loss of momementum in a correction around a round number..perhaps it is a good place to watch for a long in accordance with the overall trend.
In the end....not every system is right for everybody. The success with this way of trading has been shown real time not only on the forums but with the success of members of the group. Basics really however anyone is free to change the S/L to whatever they see fit if they have an issue with it.

I have read a previous post of yours that states "I said I strongly believe that entries are not that much important. It is how you manage the positions. That is key." Given that, I am trying to understand why entries on this system are causing you concern.
  • #1,463
  • Jan 7, 2008 3:07pm Jan 7, 2008 3:07pm
Quoting ownshook
It is not hard to understand nor implement the entries off of this system.
But I agree with this. I've never said that entries for this system are very hard or impossible to master for everyone. I've just said that they are important for this system, and so you cannot make money with this system if you are bad with entries.

I am bad with entries. I am very bad with entries. So I cannot make money with this system. That's it. Someone said that the only important thing is that you stick to this system and you are sure you make money. THIS IS NOT TRUE. You must stick to the system and you must be good with entries, in order to make money with this system, otherwise you lose.

Is it that hard to understand? Or is it that much wrong or illogical what I'm saying?
Anyway I've tried it so I'm really sure that what I'm saying is absolutely true for me.

Quoting ownshook
I have read a previous post of yours that states "I said I strongly believe that entries are not that much important. It is how you manage the positions. That is key." Given that, I am trying to understand why entries on this system are causing you concern.
In fact I trade systems in which entries are not that much important. My hedge is in the management of the position not in perfect good entries or magic set-ups. My market timing is very bad. Fortunately there are ways to profit from market even when you are bad with timing. There are systems in which entries are not that much important. Jacko's system is just not one of them.

Am I saying Jacko's system is bad? NOOOO!
Am I saying Jacko's system is not profitable? NOOOO!
 Am I saying Jacko's system is impossible to learn? NOOOO!

I'm just saying that if you are an extraordinary good trader with entries, like Jacko surely is, you make a lot of money with this system. If you are so so good with entries you can make some money. If you are bad with entries, like me, you lose a lot of money with this system. That's what I'm saying, nothing more, nothing less.

Anyway I do not want to convince anyone at all. I got involved in this posts just because I read someone saying that in order to make money with trading it is enough to stick to the plan.
To be honest I've read such kind of affirmations so many times that I cannot even remember. When I read these kind of sentences I strongly feel the urgency to correct them, because they are simple NOT TRUE, and I've discovered it personally paying a lot in terms of lost money in the past (not related to Jacko's system, absolutely). You cannot win trading simply sticking to a plan, you win only and only if you stick to a winning plan, not any plan. Please never forget this! You need a winning plan, not any plan!
Jacko's strategy is surely a very winning plan, but only, and only if, you are good with entries.
.Ubeee.
  • #1,464
  • Jan 7, 2008 4:36pm Jan 7, 2008 4:36pm
Quote
I'm just saying that if you are an extraordinary good trader with entries, like Jacko surely is, you make a lot of money with this system. If you are so so good with entries you can make some money. If you are bad with entries, like me, you lose a lot of money with this system. That's what I'm saying, nothing more, nothing less.

Anyway I do not want to convince anyone at all. I got involved in this posts just because I read someone saying that in order to make money with trading it is enough to stick to the plan.
To be honest I've read such kind of affirmations so many times that I cannot even remember. When I read these kind of sentences I strongly feel the urgency to correct them, because they are simple NOT TRUE, and I've discovered it personally paying a lot in terms of lost money in the past (not related to Jacko's system, absolutely). You cannot win trading simply sticking to a plan, you win only and only if you stick to a winning plan, not any plan. Please never forget this! You need a winning plan, not any plan!
Jacko's strategy is surely a very winning plan, but only, and only if, you are good with entries.

Ubeee,

I do understand your frustrations at being unable to find good entries. BabyFx posted a chart to try to help identify entry points. It's a weekly chart that was posted as an example. What you need to do next is to scale down the timeframes, ie you go next to the daily, 4 hrly, etc to fine tune your entries. Have a "top down" approach. You are already aware you need to take into consideration the round numbers, 50% fib level, S/R etc. If you are still having difficulties, perhaps you need Jacko as your personal mentor.

Hope that helps.
  • #1,465
  • Jan 7, 2008 5:34pm Jan 7, 2008 5:34pm
[quote=ubeee;1788927]BabeFX, you are very kind, but no, it does not help. How can you study an entry that will have a 50 pip trailing stop loss on a weekly chart? A weekly bar is of about 300 pips on average for EURUSD! You need to look at least to 1H TF if not smaller for a 50 pip trailing stop loss entry.

ubeee,

I was only using the Weekly as an example of the method, I didn't mention anything about stops.

Another way you could look at it is. If the trend is up you only want toenter a buy order on a down candle/bar. If the trend is down only enter a sell order on a up candle/bar.

Don't forget the to try & enter on a 50% retrace & preferably on a round No.

Regards.

BabeFX.
  • #1,466
  • Jan 7, 2008 6:01pm Jan 7, 2008 6:01pm
ubeee,please start Your learning of this method from the post nr 1 and spend some time on post nr 4 ,if You do not get it read again and again. Get daily, 4h,and 1h chart ,put some fibo on them and start learning from the past how to apply this method today and in the future.
All the best for You in 2008 .
Zuzia 9

Jacko ,thank You for sharing Your system !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
  • #1,467
  • Jan 7, 2008 6:37pm Jan 7, 2008 6:37pm
Quoting ubeee

........
I am bad with entries. I am very bad with entries. ....

Is it that hard to understand? Or is it that much wrong or illogical what I'm saying?

..........

In fact I trade systems in which entries are not that much important. My hedge is in the management of the position not in perfect good entries or magic set-ups. My market timing is very bad.

........

.

Ubeee,

Perhaps you need to learn !!!! how to execute good entries.


.
  • #1,468
  • Jan 7, 2008 6:38pm Jan 7, 2008 6:38pm
I have trouble with entries too. Hell we all do. But thanks to Jacko, I now have a plan as well. Example, I went out of town hunting the day after Christmas. My plan was in place well before then, Dec 14 to be exact. Not much happened until Dec 26 the day I left town. I set my phone to give me and alert when my AH trade was activated. Thankfully, one of my hunting partners was kind enough to let me use his satellite internet connection to monitor the position. However, this meant I had to explain why. Bla, Bla, Bla.
He said "You are up enough to pay for the trip. Why not just get out?"
My response was simple and with out emotion. "That is not part of the plan".
The next day Jackos trailing stop hit and our soldier was sent home with high honors. Nearly three times higher than when the "get out" question came.
So, Jackos plan may not be for everyone. Cetainly not day traders. But, it fits my personality; my lifestyle; and my risk profile. I'm pretty old too. Wife, kids, grand kids soon, hobbies, indigestion all the old guy stuff.
The most important thing(to me) other than prudent risk management is to have a plan BEFORE I enter a position. I accept the losses inherent in Jackos strategy because I know what they are before I get in the trade. I also accept that I will almost always leave 50 pips on the table before I get out. A small price to pay for the upside. I also accept that I will probably have consecutive losses before we figure out the long term trend has changed. I am OK with that too.
So thanks to Jacko I have a plan, which includes and exit strategy. I will continue to work hard to develop my entry skills. I am confident that during the next year under his tutelage I will get better, much better. Hell, I am already better and it's only been 2 months.
So to Jacko, I say thanks for your help. I know I am not alone in that thought. To the others who read this thread, decide for yourselves if this strategy fits your style. If you think not, then take a day off,then and re-read the first 10 posts. Only then, should you decide to move on to other strategies. Jacko's stuff is like a classic book. It deserves a re-read.
Regards,
Archer
  • #1,469
  • Jan 7, 2008 7:16pm Jan 7, 2008 7:16pm
Quoting jacko
Ubeee,
Perhaps you need to learn !!!! how to execute good entries.
.
Jacko, I've learned already a lot from your thread and I'm very thankful to you. About entries I will pass, they are not for me. I've tried to learn good entries for years without any success at all. In the meantime I've discovered I have other strengths. Why worry about entries when I can use those other strengths?
Thanks again.
.Ubeee.
  • #1,470
  • Edited 9:39pm Jan 7, 2008 8:52pm | Edited 9:39pm
Quoting ubeee
Jacko, I've learned already a lot from your thread and I'm very thankful to you. About entries I will pass, they are not for me. I've tried to learn good entries for years without any success at all. In the meantime I've discovered I have other strengths. Why worry about entries when I can use those other strengths?
Thanks again.
Yet you demostrated you were indeed worrying about entries. But I think it's not what you are really having trouble with.

Here's your problem:
You worry TOO much about losing!
It's simple, you lose, you take it and apply AH. If you can't wait for the market to come back to pick it up, then you're worrying TOO much.

And why the heck would you enter 2 positions when the market comes back (excluding the AH)? Because you worry TOO much about losing. The right thing to do is cutting down your position size when you're on a losing streak.

Now I'm not saying you should worry about winning so you'll win. You should not worry about anything, you HAVE your plan of getting in and out. If you know your course of action and the likely outcome, you need not worry. If you get stopped out on 2 entries, you're probably wrong on the timing, put the AH in and go out for a walk.

You need to work on this instead of finding a good entry.
Take a report.
  • #1,471
  • Jan 7, 2008 8:53pm Jan 7, 2008 8:53pm
Quoting ubeee
I think this demonstrates that Jacko is an extraordinary good trader as he has more and more time showed to us all.
I can assure you that if I stuck to his plan I would lose all of my money in very little time.

My advise to you is to NOT "STICK TO" Jacko's "plan"Youwill surely save your "at risk" capital by doing so. I, on the other hand, have improved my trading by using his very basic and grounded approach to trading beyond words! Taking it to PURE heart. Quote on post #4...should test out this very unusual and rarely used strategy... Note: the entry methods are simply noted on points #1 and #2. There is a certain amount of risk tollerance, as well as discretion, employed here. Challenge me on this; almost every packaged system out there leaves you to place the trade, even some purely mechanical ones. Therefore... OH NO!... Discretionary trades.

People...this should be a revelation to all you "Holy Grail" seekers. There's not a "magical" system out there. As Jacko also said, (paraphrase)... the "Holy Grail" is in the mirror...and where can YOU buy that?

GEEESSSEEE !!!!

I didnt mean to come off negative...sorry. "Leave your brain at the door..." unknown quote...HEHEHE.

Good night all.

Dan
  • #1,472
  • Jan 7, 2008 8:58pm Jan 7, 2008 8:58pm
Quoting ubeee
Jacko, I've learned already a lot from your thread and I'm very thankful to you. About entries I will pass, they are not for me. I've tried to learn good entries for years without any success at all. In the meantime I've discovered I have other strengths. Why worry about entries when I can use those other strengths?
Thanks again.
Ubeee,

I am one of Jacko's turtles, if you allow me to use the term.

Boy, take it easy! When I first heard about FOREX one main thing called my attention: It would take me to two to five years to become a consistent trader.

So, any trouble you might be going through many others experienced it themselves. For instance, although I never vanished a account with lousy trading, my first broker broke. And took all my money... Boy did I cry...

So, take it easy on yourself. Of course you have other proficiencies, but if you can learn "entry" as well, why don't you?

About Jacko? Jacko is a guy who simply wrote we should not spit against the wind. Read again the first pages of the thread. And if you still have some doubs, ask... I am sure a lot of people would be willing to help.

Good luck,

Leonardo
  • #1,473
  • Jan 7, 2008 9:01pm Jan 7, 2008 9:01pm
Jacko, Just started reading this thread from the begining. I am only a few pages in but me likes alot! I like the simple straight foreward approach. I admit to trying to capture too many pips on short term trades that usually cost me. I will try to do longer ones with the trend...once I figure out how long a "trend" has to be to be a true "Trend"

Jacko - as I said i have not gotten that far yet... do you trade any other pairs or just the E/U?
Ross Baltimore Md
Guitarist, surfboard maker
  • #1,474
  • Jan 7, 2008 9:06pm Jan 7, 2008 9:06pm
Quoting CateFul
Yet you demostrated you were indeed worrying about entries. But I think it's not what you are really having trouble with.

Here's your problem:
You worry TOO much about losing!
It's simple, you lose, you take it and apply AH. If you can't wait for the market to come back to pick it up, then you're worrying TOO much.

And why the hell would you enter 2 positions when the market come back (excluding the AH)? Because you worry TOO much about losing.

You need to work on this instead of find a good entry.


CateFul,

Excellent post!! The "Monopoly Money" is after all already lost before the trade. Loose the personal association you have to the trading account. This does'nt in any way mean loose sight of MM, but if one is attached to this money, ie. NOT AT RISK $, then your head will not be soundly in the trade. IMHO
  • #1,475
  • Jan 7, 2008 9:35pm Jan 7, 2008 9:35pm
Quoting rosssurf
Jacko, Just started reading this thread from the begining. I am only a few pages in but me likes alot! I like the simple straight foreward approach. I admit to trying to capture too many pips on short term trades that usually cost me. I will try to do longer ones with the trend...once I figure out how long a "trend" has to be to be a true "Trend"

Jacko - as I said i have not gotten that far yet... do you trade any other pairs or just the E/U?
Ross Baltimore Md
Guitarist, surfboard maker
Just the Euro, I believe. It was in one of the early posts.
Take a report.
  • #1,476
  • Jan 7, 2008 10:09pm Jan 7, 2008 10:09pm
Quoting ubeee
Jacko, I've learned already a lot from your thread and I'm very thankful to you. About entries I will pass, they are not for me. I've tried to learn good entries for years without any success at all. In the meantime I've discovered I have other strengths. Why worry about entries when I can use those other strengths?
Thanks again.
I am confused. If you are not here to learn how to improve your trading, then why are you here?

You originally came here and stated

Quote
Post 1442 by Ubeee

I'm really not in this thread to master Jacko's system. I've already tried it for a lot of time and concluded that even if I could master it, it does not fit my trading style. I don't like to trade only one pair and only in the main trend direction.

You then said

Quote
Post 1446 by Ubeee

You must have a near perfect instinct of market timing to get in exactly when a trailing stop of 50 pips will not put you out even before getting to break even, let alone to get some profit.

I suggested that this was not true. See here
http://www.forexfactory.com/showpost.php?p=1786038&postcount=1413

and here:
http://www.forexfactory.com/showpost.php?p=1431044&postcount=85

You then stated

Quote
Originally Posted by ubeee http://www.forexfactory.com/images/buttons/viewpost.gif (http://www.forexfactory.com/showthread.php?p=1789092#post1789092)

........
I am bad with entries. I am very bad with entries. ....

Is it that hard to understand? Or is it that much wrong or illogical what I'm saying?

..........

In fact I trade systems in which entries are not that much important. My hedge is in the management of the position not in perfect good entries or magic set-ups. My market timing is very bad.



On the basis that:
1. you acknowledge that you are "very bad with entries"
2. but you are not trying to learn anything here,
3. but rather came here with the intent to discredit my methodology,
4. and you were unsuccessful
perhaps it is time for you to start your own thread and trade "livetime" to show me the effectiveness of your methodology.

.
  • #1,477
  • Jan 7, 2008 11:22pm Jan 7, 2008 11:22pm
Quoting jacko
perhaps it is time for you to start your own thread and trade "livetime" to show me the effectiveness of your methodology.
Perhaps not, I am not promoting any methodology at all!

I've just answered to a post that said that it's enough to stick to your system to be sure to make money. I've just said that this is true, but only provided that you are good with entries.
If expressing this opinion seems to you that it is discrediting your methodology, well this is not true. I just wanted to show a characteristic of your system, not to discredit it.

If, instead, you simply think that I'm wrong, you simply think that it is not necessary to make good entries to profit with your system, then, ok, we have different views on this point.

We also could have a very good and effective way to show all the people in this thread if you are right or if I am right on this very point (that would anyway have anything to do with discrediting your methodology, of course).

Let's just flip a coin for entries and let's see what the equity of an hypothetical account will be in 6 months.
You decide what pair, you decide if long or short, you decide what size, you decide what trailing (50 or what pips you prefer), you decide what day and what time of the day the position has to be opened. I will flip a coin, and the position will be opened only and only if it's head, and if it's not head you will have to wait 6 hours before asking me to flip the coin again.

Seems very fair to me. Just let's do it for six months, in the end I will be right or you will be right, and the question solved.

Want to play?

Otherwise just admit that entries are critical with your system and that saying this is just not discrediting your system.
.Ubeee.
  • #1,478
  • Jan 8, 2008 12:56am Jan 8, 2008 12:56am
Quoting ubeee
Perhaps not, I am not promoting any methodology at all!

I've just answered to a post that said that it's enough to stick to your system to be sure to make money. I've just said that this is true, but only provided that you are good with entries.

If expressing this opinion seems to you that it is discrediting your methodology, well this is not true. I just wanted to show a characteristic of your system, not to discredit it.

If, instead, you simply think that I'm wrong, you simply think that it is not necessary to make good entries to profit with your system, then, ok, we have different views on this point.

We also could have a very good and effective way to show all the people in this thread if you are right or if I am right on this very point (that would anyway have anything to do with discrediting your methodology, of course).

Let's just flip a coin for entries and let's see what the equity of an hypothetical account will be in 6 months.
You decide what pair, you decide if long or short, you decide what size, you decide what trailing (50 or what pips you prefer), you decide what day and what time of the day the position has to be opened. I will flip a coin, and the position will be opened only and only if it's head, and if it's not head you will have to wait 6 hours before asking me to flip the coin again.

Seems very fair to me. Just let's do it for six months, in the end I will be right or you will be right, and the question solved.

Want to play?

Otherwise just admit that entries are critical with your system and that saying this is just not discrediting your system.

No, I can testify in court entries are not a critical part of this system
I've done live trading with Jacko's method, and I'm pretty sure he and I had different entry points, I've been profitable with the trades nonetheless.

However, having a good entry ensures your initial drawdown will be minimized. So it helps, but not as critical as MM.

Let's look at an example, let's look at the last swing up from 1.4310 to 1.4824, that's a 500-pip movement, and out of this 500 pips, there're at least 300 different entry points. You can enter at 1.4310 if you're good, or you can get in at 1.4350, or 1.44, or 1.45, or 1.455, or 1.4561 if you want to be funny. There're hundreds of entry points! And none of these would stop you out with a 50-pip trailing. OK maybe if you got in at 1.47 you would've been stopped out, for a MERE 2-pip loss! The question is: do you have the guts to pull the trigger? Are you willing to let go of 50 pips to make 300? Sounds like a good deal to me.

If you sell too soon or buy too soon, with good MM you still make money. Have you read the Market Wizards? Read the interview on Jim Rogers.

As I posted earlier, you need to think about your psychology. You worry TOO much. and if you worry too much, you probably risk a more-than-desired amount of money on each trade. Good market timing is very hard in FOREX, we don't have enough technical information like order flow information, the tape, etc. I don't know how Jacko does it, but I'm not good with entries either and I make money. Because I wait, and when it comes, I strike, no hesitation.

And what's the point of this "bet"? Your ego? You need to work on this. Not your entry.
Take a report.
  • #1,479
  • Jan 8, 2008 1:13am Jan 8, 2008 1:13am
sorry to sound harsh buddy, I'm just trying to help.
Take a report.
  • #1,480
  • Jan 8, 2008 2:08am Jan 8, 2008 2:08am
Quoting ubeee

We also could have a very good and effective way to show all the people in this thread if you are right or if I am right on this very point (that would anyway have anything to do with discrediting your methodology, of course).

Let's just flip a coin for entries and let's see what the equity of an hypothetical account will be in 6 months.
You decide what pair, you decide if long or short, you decide what size, you decide what trailing (50 or what pips you prefer), you decide what day and what time of the day the position has to be opened. I will flip a coin, and the position will be opened only and only if it's head, and if it's not head you will have to wait 6 hours before asking me to flip the coin again.

Seems very fair to me. Just let's do it for six months, in the end I will be right or you will be right, and the question solved.

Want to play?

Otherwise just admit that entries are critical with your system and that saying this is just not discrediting your system.
What a troll. what a pathetic troll.
WE TRADE FOREX, WE DO NOT PLAY COIN FLIPPING GAMES.
WE TRADE FOREX AND MAKE MONEY.
GO PLAY TIDDLIWINKS WITH THE OTHER TROLLS. LOL
WHAT A TOSSER. LOL
1 trader viewing now