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Jacko's Forex House of Pleasure and Pain

  • #181
  • Jun 18, 2007 8:14am Jun 18, 2007 8:14am
Sittin' on a nice fat 100+ pip gain from 1.3300.

1.3413 seems to be providing considerable resistance, but if you look at the daily chart you can see why...
You are in a maze of twisty little passages, all alike.
  • #182
  • Jun 18, 2007 9:34am Jun 18, 2007 9:34am
Not sure I understand your comment on the euro daily.. Is this the area of where support has become resistance?

Thanks,

Sanchez

Quoting stevegee58
Sittin' on a nice fat 100+ pip gain from 1.3300.

1.3413 seems to be providing considerable resistance, but if you look at the daily chart you can see why...
  • #183
  • Jun 18, 2007 10:56am Jun 18, 2007 10:56am
Quoting sanchez
Not sure I understand your comment on the euro daily.. Is this the area of where support has become resistance?

Thanks,

Sanchez
Here's my view of the current resistance level:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_daily.png Size: 30 KB
You are in a maze of twisty little passages, all alike.
  • #184
  • Jun 18, 2007 10:18pm Jun 18, 2007 10:18pm
Added at 1.3400 at around 10:00 EDT today.

Still trailing, price at 1.3425. "Very Nice"
You are in a maze of twisty little passages, all alike.
  • #185
  • Jun 19, 2007 1:12am Jun 19, 2007 1:12am
Quoting stevegee58
Added at 1.3400 at around 10:00 EDT today.

Still trailing, price at 1.3425. "Very Nice"
Hey dude,
If you want to improve your trading even more then have a look at my post here
http://www.forexfactory.com/showthread.php?t=28512&page=5
you are doing the right trading with Jackos system and there is a little tweak you can get more money with. If you dont like it,dont do it but it is there.
  • #186
  • Jun 19, 2007 1:29am Jun 19, 2007 1:29am
Quoting newbietrader101
Hey dude,
If you want to improve your trading even more then have a look at my post here
http://www.forexfactory.com/showthread.php?t=28512&page=5
you are doing the right trading with Jackos system and there is a little tweak you can get more money with. If you dont like it,dont do it but it is there.
Great info there newbietrader101. I'm loaded at 3300 as well.
  • #187
  • Jun 23, 2007 11:20am Jun 23, 2007 11:20am
I like this approach, because in theory, it could apply to ANY pair that is in a longer term trend.

For example.....not too point out the obvious, but EUR/CHF would be the exact same set up.

I assume that your stops and profit levels are based on the daily range (more or less)

So for example, if you were going with USD/JPY, it would be more like say....75 pips? Which works out well, as the pips value converts to roughly the same risk.

Of course some pairs it won't work with, because only psychos trade them, like for example the EUR/NZD.

Also, a HUGE consideration of this system, it's simple. I don't have to think too much, and that's a good thing. The more I think, the more I lose. Sad, but true.....but from what I am reading thinking in this business will only make you poor.

I am including an indicator that I had downloaded from some where around here, which shows the average daily range. As you will notice, the EUR/USD is 58.97 pips right now. USD/JPY is 74.23. (Not suggesting this is the pair to trade like this......but an example.)

I think I am going to experiment with this, just to see how it converts to other currency pairs. (Possible the EUR/USD enters a choppy or ranging period in the future, so could be useful somewhere else. Who knows?)

Anyways, like I was saying, thank you Jacko - you have made the obvious...well, obvious!
Attached File(s)
File Type: mq4 Average Daily Range.mq4   5 KB | 1,406 downloads
  • #188
  • Jun 28, 2007 4:28pm Jun 28, 2007 4:28pm
Jacko,

Thank you for sharing your expertise and wisdom with us!! I find your insights to be very confidence-inspiring and beautifully simple. I now look forward to seeing the results of trading the Forex with a fresh, new approach and a more confident attitude after absorbing the content of your excellent posts.

PLEASE...continue posting here regardless of any negative posts by other members. What you have already said here about forex trading stands SOLIDLY on it's own feet and makes those who would attempt to shoot it down appear just plain foolish for doing so! I for one need all the help I can get, so I will continue to read and RE-read and RE-READ AGAIN the information you have graciously shared with us in this forum, meanwhile hoping for more. I eagerly look forward to any further insights you might consider posting here!

Thank you again and God Bless!!
  • #189
  • Jun 28, 2007 11:55pm Jun 28, 2007 11:55pm
Agree with Pipskateer above. Thank you Jacko for sharing. What you shared here answers questions many people have about how to trade, especially regarding your use of a trailing stoploss which effectively answers perhaps the biggest problem many people and myself have regarding "WHEN" to close a trade and take profit. Thanks again for sharing.
  • #190
  • Jun 29, 2007 2:12am Jun 29, 2007 2:12am
Quoting creztor
Agree with Pipskateer above. Thank you Jacko for sharing. What you shared here answers questions many people have about how to trade, especially regarding your use of a trailing stoploss which effectively answers perhaps the biggest problem many people and myself have regarding "WHEN" to close a trade and take profit. Thanks again for sharing.
I am sorry dudes but I have been trying to talk Jacko round to posting his trades here live like he did on dailyFX but am hitting a brick wall, because he says that he has been there and done that and that his trading is now much less often and that it would be boring, especially at the moment when the euro is doing nothing but sitting like a pig in mud at 1.3450 so I will keep trying. he has been overseas for a while but told me the other day that he is setting up some serious long term short positions against the dow and nasdaq and is now just waiting for China market to come down with a big bump.
  • #191
  • Jun 29, 2007 5:41am Jun 29, 2007 5:41am
I know Jacko likes to enter on round numbers, trend lines, or 50% retraces. So in the event that the EURUSD continues up and hits 1.3500 like it just has this morning, would a long position at 1.3500 immediately be entered because a limit position was in place for a break out of 1.3500? Or does he prefer to wait until it has broken through above a round number (1.3500) some amount of pips and then place a limit below it, waiting for entry on a retrace?

Thanks,
Johnny
  • #192
  • Jun 29, 2007 7:24pm Jun 29, 2007 7:24pm
Quoting newbietrader101
I am sorry dudes but I have been trying to talk Jacko round to posting his trades here live like he did on dailyFX but am hitting a brick wall, because he says that he has been there and done that and that his trading is now much less often and that it would be boring, especially at the moment when the euro is doing nothing but sitting like a pig in mud at 1.3450 so I will keep trying. he has been overseas for a while but told me the other day that he is setting up some serious long term short positions against the dow and nasdaq and is now just waiting for China market to come down with a big bump.
Thanks very much for your efforts on this Newbie... Well then, considering what Jacko has told you about his current situation, why not start a journal of and post YOUR OWN trades? Perhaps even a Skype Chat or a Tradingrooms.com chat room? I know many here would be very interested...myself in particular! I'm a "visual" learner... Jacko's text information is priceless and has certainly changed MY thinking and approach to trading, but I also like to SEE IT in action. Please give it some thought and if it's a "NO GO", then no problem, I totally understand.

Thanks Again!
  • #193
  • Jun 29, 2007 8:34pm Jun 29, 2007 8:34pm
Dear Jacko & all,

I would like to express my gratitute to Jacko for sharing all the insights that he has on ACTUAL forex trading method.

I have greatly improved my trading skills eventhough Jacko only presented the OUTLINE of his trading style. It has changed me to a THINKING trader eventhough he said somewhere in this thread that we will trade better if we leave our brains at the door.

BTW, I gained +500 pips & +390 pips these two weeks... Well, I traded 6 pairs but all according to Jacko style... maybe I am still trading for the adrenaline rush.... LOL

Once again, thank you, Jacko.
{Promotion Removed}
  • #194
  • Jun 30, 2007 5:17am Jun 30, 2007 5:17am
Quoting newbietrader101
I am sorry dudes but I have been trying to talk Jacko round to posting his trades here live like he did on dailyFX but am hitting a brick wall, because he says that he has been there and done that and that his trading is now much less often and that it would be boring, especially at the moment when the euro is doing nothing but sitting like a pig in mud at 1.3450 so I will keep trying. he has been overseas for a while but told me the other day that he is setting up some serious long term short positions against the dow and nasdaq and is now just waiting for China market to come down with a big bump.
newbie my mistake I wasnt clear. If Jacko doesnt want to come back and post thats fine, he has shared more than enough and for that I am thankful. I believe what he shared was more than just an outline as someone mentioned above and it answers or "should" most questions traders have regarding entries and exits etc.
  • #195
  • Jun 30, 2007 8:42am Jun 30, 2007 8:42am
Quoting luqmanz
I have a limit order : long Fiber at 1.3400
Let's see how it turns out.

If this one fails ... put another limit order at 1.3350
This trade worked brilliantly .
  • #196
  • Jun 30, 2007 10:58am Jun 30, 2007 10:58am
Take a look
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.jpg Size: 78 KB
  • #197
  • Jul 1, 2007 8:42pm Jul 1, 2007 8:42pm
Quoting newbietrader101
he has been overseas for a while but told me the other day that he is setting up some serious long term short positions against the dow and nasdaq and is now just waiting for China market to come down with a big bump.
Now THAT is some VERY interesting information
Trust price. Know yourself.
  • #198
  • Jul 2, 2007 4:55am Jul 2, 2007 4:55am
Anyone else here aiming for 4000 for Fiber ? (in case it penetrates the 3600-3700 range ).
Let's ride the wave
  • #199
  • Jul 2, 2007 5:31am Jul 2, 2007 5:31am
Quoting luqmanz
Anyone else here aiming for 4000 for Fiber ? (in case it penetrates the 3600-3700 range ).
Let's ride the wave



Anyone else here aiming for 4000 for Fiber ? Yes...... Me




.
  • #200
  • Jul 2, 2007 6:50am Jul 2, 2007 6:50am
Quoting jacko
Anyone else here aiming for 4000 for Fiber ? Yes...... Me
.
Hmmmmm, that'll take a while
I'm assuming 1.4 was meant

I'm currently chasing USDCHF, wondering whether it may surprise us all.

Maybe I should buy some francs while I still can before a vacation or move to Switzerland ends up costing a fortune

Did you already take some Index shorts if I may ask jacko?
Trust price. Know yourself.
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