Thanks willf.
Can you put another one underneath that one , but start date at mid 2004. Please put into the post above
Thanks again, willf
.
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
DislikedHi JFonseca
As you probably know, I can't post a chart here to save my life, but:
1. if you bring up a weekly chart of the Eur/USD. (Isotonic or Newbie...can you do this for me?)
2. Then draw a line from the top of 3-14-2005 to 9-05-2005
3. That bearish trend line was broken in Jan 2006 and confirmed by trend line becoming support line in mid February 2006.
4. After that it was becoming obvious that trend had changed. Just a matter of getting onboard the Northern Express for a couple of years.
5. Due to length of time that Euro tends to trend, I made a decision to really ramp up the trading in volume, so I moved from 2 standard $100k contracts to 5 to 10 to 20 to 50 to more, using profits from trades.
.Ignored
DislikedHi JFonseca
As you probably know, I can't post a chart here to save my life, but:
1. if you bring up a weekly chart of the Eur/USD. (Isotonic or Newbie...can you do this for me?)
2. Then draw a line from the top of 3-14-2005 to 9-05-2005
3. That bearish trend line was broken in Jan 2006 and confirmed by trend line becoming support line in mid February 2006.
4. After that it was becoming obvious that trend had changed. Just a matter of getting onboard the Northern Express for a couple of years.
5. Due to length of time that Euro tends to trend, I made a decision to really ramp up the trading in volume, so I moved from 2 standard $100k contracts to 5 to 10 to 20 to 50 to more, using profits from trades.
.Ignored
DislikedHi JFonseca
As you probably know, I can't post a chart here to save my life, but:
1. if you bring up a weekly chart of the Eur/USD. (Isotonic or Newbie...can you do this for me?)
2. Then draw a line from the top of 3-14-2005 to 9-05-2005
3. That bearish trend line was broken in Jan 2006 and confirmed by trend line becoming support line in mid February 2006.
4. After that it was becoming obvious that trend had changed. Just a matter of getting onboard the Northern Express for a couple of years.
5. Due to length of time that Euro tends to trend, I made a decision to really ramp up the trading in volume, so I moved from 2 standard $100k contracts to 5 to 10 to 20 to 50 to more, using profits from trades.
.Ignored
DislikedI have been looking at that with some curiosity as well....given that the daily average fluctuation of the EUR/USD is around 90 pip +/- it seems your trailing stop is hit with little or no gain on a regular basis.....maybe I am looking at this wrong and please correct my error if I am.....but something just isn't clear to me yet...... just tring to gain some clairity here.Ignored
DislikedHi 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.
.Ignored
DislikedAt first I had the same thought. But having spent a lot of the weekend backtesting it would appear to work out.
It works out because of one thing. You were following the trend. YES
The only downside I see is if you get a large retracement you could be left waiting several weeks for your buy stop to get picked up again YESand there is the possibility of your buy stop being triggered and then stopped out again.YES, but it must fall within the 50pip gap between the SL and the point at which you place the StopBuy. Also, you have a thing called "discretion"
All in all though he's doing what every book says. Following the trend, cutting his losses short.YES YES YESIgnored
DislikedEh-hem...
Anti-hedging is gambling under another name. Suppose you follow the instructions and -BLOOP- the market reverses again after your second trade. You stand to re-enter repeatedly, hitting stops time and time again. This will occur ONLY if the trend has reversed and you are fighting the trend
In fact, the market may never come back down (or up) to your original entry. This will occur ONLY if the trend has reversed and you are fighting the trend
Jacko, I don't care what people are saying about how "great" your anti-hedging is... let's paint it with real world light. Don't try to start a fight here
-TIgnored
Dislikedtrade with the trend - I think the phrase 'couldn't see the wood for the trees' applies here.
I like the anti-hedging thing too.
I suppose I'd explain it thus I may of course be completely wrong.
If you are following the trend and your overall strategy is successful, that would indicate that in terms of expectancy any trade you place is a 'good' one even if it fails.
if the trade goes against you for some time and you re-input your losing trade from the position of the stoploss then it holds numerous advantages.
Firstly it is in the direction of the long term trend
secondly, the market will most definitely be moving in the right direction once the trade is opened.
Thirdly, if the system you used to first input the trade is satisfactory overall, there is no reason why that position should hold any greater threat of failure a second time.
As I understand it Jacko's system looks to enter the market on pullbacks to trendlines at a confluence of round numbers and/or the 50% fib as these are relatively probable swing points back in favour of the overall trend. I'm not sure, but I understand that such points have far more relevance in a retracing market than a trending one.
If that is true it follows that any position placed at these levels in a trending market has a statistically greater chance of breaking through than it has of reversing, since it is no longer a high probability technical level.
if a second trade goes against you, then presumeably it will have formed a short/medium term top at or around your entry point and as such a third go at it might be inadviseable (am unsure as to what Jacko would do, but this seems logical).Ignored
DislikedDudes,
I have been reading all the comments on the last set of pages. you need to look at what jacko said above. the only way his method can get into trouble is if he he wrong on the major trend. If you don't understand that then you don't understand his method.Ignored
QuoteDislikedYou 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.
DislikedRescuing people from the "Counter-Trend Trade Church" is an inglorious war.
Loving the thread... Keep it up...Ignored