Trend Following Experiment - EURUSD

Quoting ademac

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Hey mate,

Have a read of this e-book, I have read most of Jacko's post on the FF and have begun reading this e-book. What i find amazing\interesting\funny is this book was written in 1923 and as i have been reading it i have found loads of things that Jacko has said word for word straight from the book. Also it describes how the guy traded and would you believe it that too is how we are both learning to trade.

Best of luck with the trading
Ademac

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Quoting ademac

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Hey mate,

Have a read of this e-book, I have read most of Jacko's post on the FF and have begun reading this e-book. What i find amazing\interesting\funny is this book was written in 1923 and as i have been reading it i have found loads of things that Jacko has said word for word straight from the book. Also it describes how the guy traded and would you believe it that too is how we are both learning to trade.

Best of luck with the trading
Ademac

Ignored

Quoting ademac

Disliked

Hey mate,

Have a read of this e-book, I have read most of Jacko's post on the FF and have begun reading this e-book. What i find amazing\interesting\funny is this book was written in 1923 and as i have been reading it i have found loads of things that Jacko has said word for word straight from the book. Also it describes how the guy traded and would you believe it that too is how we are both learning to trade.

Best of luck with the trading
Ademac

Ignored

Quoting winterwhite

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Jacko:

Two questions which are important to me- Hopefully you too will see them
as important enough to answer.

1. What did you base your thoughts on when you determined
that the downtrend (correction) would be short term -a maximum
of 2 - 3 weeks?

2. What is the significance of the "4 hrly trendline being pierced"?


Your posts have opened up possiblities for many. I have read
them all, copied and pasted important points in them, and
continue to look for them.

Thank you. Looking forward to your answers to the questions
above.

Ignored

Quoting jacko

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Hi Ademac,

I haven't actually read this book (Reminiscences Of A Stock Operator By Edwin Lefevre).

I have read "Jesse Livermore: The Worlds Greatest Stock Trader by Richard Smitten" which paraphrases the book in the e-book (Reminiscences Of A Stock Operator By Edwin Lefevre). I actually found "Reminiscences" after I read Smittens book so I wasn't interested enough to read it. (I found that they were very similar...but Smittens book seemed more readable).

I would certainly strongly recommend that you read either of Smittens or Lefevres book.

However, whilst I don't understand how I could have said anything "word for word straight from the book" which I have never read, I would be proud to think that I was replicating any of Livermore's strategies.

Although Livermore came to an unfortunate end (he blew his brains out in a fit of depression brought on by his dysfunctional family life), his investment / trading strategies are certainly worth emulating.

.

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Quoting FXSurfer

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Howdy Jacko,
Speaking of recommended reading, I'm hoping my copy of
"How Legendary Traders Made Millions" comes in the mail today.

Anything interesting in Anti-Hedging Land lately?


FXS

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Quoting jacko

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Hi FXSurfer

It ("How Legendary Traders Made Millions") is an interesting book and I recommend it.
I am currently reading Mark Dougles "Trading in the Zone", but finding it a bit long on the "psychology" of trading....I am not into that stuff, personally...I just want the facts. (Different strokes for different folks..)


Anti-Hedging Land is really just another way of "cutting your losses short" by sliding it up with the trend.
As I have said repeatedly, I don't do anything different to what is recommended by the best traders/ best books.
The big difference to a lot of traders here is that I don't tend to get distracted by wanting to play every game or trade every trade. (I have a life... )

My anti-Hedging was originally conceived as a simple alternative to hedging. But it is also a definite method to cut losses short but, more importantly, also to get you back into the trend.
Even though I miss out on some counter trend trading opportunites (like the present one that Newbietrader is currently surfing down from 1.3650), I am not concerned because I feel that it may be a shallow correction...see the post above...

That is not to say that I am not jealous of the sizable amount of money that Newbie is making...but I personally just don't consider the risk to be worth it.
(OK, maybe I am jealous...I AM REALLY JEALOUS... I AM REALLY, REALLY JEALOUS... )

.

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Quoting jacko

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Hi winterwhite,

II will answer the above questions in reverse order.

1. The significance of the "4 hrly trendline being pierced" is that it is the first significant trend trading trend line to indicate that a correction is taking place that MAY result in a change in the medium / long term trend. It is to alert trend traders to the possibility that the trend may have changed.

2. Having the point 1 above in mind, I am still sceptical that this is anything other than a short term shallow correction to the long term bull trend for the Euro. (NOTE I could be wwwwrong !!).
My personal thought at this point of time is that maybe 1.3300- 1.3350 will see the bottom of this shallow corection and that it may occur next 7 - 10 days. (NOTE I could be wwwwrong !!).

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

It is looking a relatively shallow correction and when the bull market is seen to be resuming, it is usual to make 100-150 pips at a time.

.

Ignored

Quoting jacko

Disliked

Hi FXSurfer

It ("How Legendary Traders Made Millions") is an interesting book and I recommend it.
I am currently reading Mark Dougles "Trading in the Zone", but finding it a bit long on the "psychology" of trading....I am not into that stuff, personally...I just want the facts. (Different strokes for different folks..)


Anti-Hedging Land is really just another way of "cutting your losses short" by sliding it up with the trend.
As I have said repeatedly, I don't do anything different to what is recommended by the best traders/ best books.
The big difference to a lot of traders here is that I don't tend to get distracted by wanting to play every game or trade every trade. (I have a life... )

My anti-Hedging was originally conceived as a simple alternative to hedging. But it is also a definite method to cut losses short but, more importantly, also to get you back into the trend.
Even though I miss out on some counter trend trading opportunites (like the present one that Newbietrader is currently surfing down from 1.3650), I am not concerned because I feel that it may be a shallow correction...see the post above...

That is not to say that I am not jealous of the sizable amount of money that Newbie is making...but I personally just don't consider the risk to be worth it.
(OK, maybe I am jealous...I AM REALLY JEALOUS... I AM REALLY, REALLY JEALOUS... )

.

Ignored

Quoting jacko

Disliked

Hi winterwhite,

I will answer the above questions in reverse order.

1. The significance of the "4 hrly trendline being pierced" is that it is the first significant trend trading trend line to indicate that a correction is taking place that MAY result in a change in the medium / long term trend. It is to alert trend traders to the possibility that the trend may have changed.

2. Having the point 1 above in mind, I am still sceptical that this is anything other than a short term shallow correction to the long term bull trend for the Euro. (NOTE I could be wwwwrong !!).
My personal thought at this point of time is that maybe 1.3300- 1.3350 will see the bottom of this shallow corection and that it may occur next 7 - 10 days. (NOTE I could be wwwwrong !!).

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

It is looking a relatively shallow correction and when the bull market is seen to be resuming, it is usual to make 100-150 pips at a time.

.

Ignored