Jacko's Forex House of Pleasure and Pain

Quoting diallist

Disliked

Thanks Iso,

Yes, I saw that post (read the whole thread) but, if he trades off the charts, then really, what is the point of his strong emphasis on the continuing weakness of the dollar? If the chart trumps the fundies every time, then why bother with the fundies at all, much less having such an emphatically strong opinion of them?

In other words, what is the point of his strong fundies opinion if it doesn't actually factor into his trading?

Dial

P.S., I've combined Jacko's method with James16's stuff as well as some of my own stuff to get a much clearer determination of the highest probability entries. Making bucks big time!! Thanks Jacko, Jim and me. <hehe>

Ignored

Quoting jacko

Disliked

Well, the Market didnt rise up to 1.3500 for a second touch. However, I have left the 1.3500 stop buy in place.

ANOTHER BIG CALL !!!!!!!!!

I haven't gone "short"...and don't intend to go "short"...for a couple of reasons:

1. I think the opportunity passed me by, firstly when I didnt go short on the break of the 4 hr trend line at 1.3700 and secondly when I didn't go short at the break of the daily trend line at 1.3450. (Aaah but.... 20 / 20 hindsight is a beautiful thing).

2. I dont want to "chase" the opportunity and be hustled by the "irrational (negative) exuberance" of the current market.

3. My instinct/experience/gut feeling is that we are closer to the bottom of this fall than everyone thinks. I get the feeling that we were at the brink of something very serious but we have now pulled back from it.

4. Unless those smart-ass Wall St idiots have set off a truly financial nuclear weapon of mass destruction bomb, then I consider that this market may be getting close to its bottom.

5. I am not trying to say that now is a good time to buy (1.3400 is too uncertain a risk for me, but I may lower my Stop Buy to 1.3450 later)....or that the market won't go lower in the very short term...but what I am thinking is that the MAIN danger MAY have passed.

If that is the case, the relief rally (when everyone sighs a big sigh of relief and cheers each other), will be quick and intense.

6. In light of the above, I don't, at this stage, intend taking any "shorts" but will be looking to lower my Stop Buys if this market goes lower

7. Put bluntly, I didn't react quick enough to "short" the correction at worthwhile levels. However, I think that this downward correction is dying.


PLEASE NOTE I could be wwwwwrong !!!!

Ignored

Quoting Rocroy

Disliked

Pardon my curiosity, but what parts from jacko's did you integrate with James16 stuff?

It must have been round numbers? I've used that concept with great success ...

R

Ignored

Quoting turnip15

Disliked

DIALIST:

But Jacko gives his thoughts and method /style of trading for FREE.......No need to pay for Jame's course or any other profit making course course on this site.
Thanks Jacko for sharing your knowledge at no charge.

Ignored

Quoting turnip15

Disliked

DIALIST:

But Jacko gives his thoughts and method /style of trading for FREE.......No need to pay for Jame's course or any other profit making course course on this site.
Thanks Jacko for sharing your knowledge at no charge.

Ignored

Quoting jacko

Disliked

Hi Diallist,

This is another question where someone is asking whether i have "concrete, never-to-be-changed, purely mechanical" rules, (similar to the questions about any "rigid rules" for priority in regard to 50% Fibs, round numbers and trend lines).

No sir, it is not one of those questions at all. I do well in my trading precisely because I don't consider any aspect of trading to be concrete, or can be made to fit neatly into a box. I especially don't believe in any sort of mechanized systems trading. All my trading is done with a very large degree of discretion and gut-feelings that come from much experience.

So I wasn't asking for a concrete answer, but a generalization of your thoughts/feelings/gut-sense of how fundies affect your chart reading.

Again, I try to think in a logical and methodical way.

1. I only use the Charts in the normal day to day trading environment.

2. In situations like this Credit meltdown, I tend to let the Fundies intrude on my thinking. (perhaps a little too much....maybe if I had worked ONLY with the Charts, I might have gone short at 1.3700 or even 1.3450...but who knows....it is all 20 /20 hindsight now....PLUS I always tell myself that I did whatever I did because at that time, it was the right thing to do).

3. Also, my personality style is such that I want to know what is happening in the "business" that I am in.

I don't know if I have answered your question but I have tried.

Jacko, you have answered my question perfectly. This is also how I view your method (except I took the shorts <hehe>).

I could care less about mechanics, but I look forward to more of your posts that give a glimpse of your thinking. Those are the posts I find most valuable.

Thanks!!

Dial
.

Ignored

Quoting kihl

Disliked

Jacko isnt using any of the James16 stuff but anyone who knows how to use price action can easily implement both stuff to their own advantage

The free stuff is enough
http://www.forexfactory.com/forumdisplay.php?f=91

Ignored

Quoting turnip15

Disliked

DIALIST:

But Jacko gives his thoughts and method /style of trading for FREE.......No need to pay for Jame's course or any other profit making course course on this site.
Thanks Jacko for sharing your knowledge at no charge.

Ignored

Quoting MikeG

Disliked

Here's my take on the EURUSD daily as regards Jacko's method, along with how I use Jim's stuff to support it. (from the PF, not "for free" (whine).)

Turniphead, Jacko's stuff is an exception, but not all the best info is "for free" (whine).

See chart:

Ignored

Quoting jacko

Disliked

I haven't gone "short"...and don't intend to go "short"...for a couple of reasons:

1. I think the opportunity passed me by...

2. I dont want to "chase" the opportunity ...

3. My instinct/experience/gut feeling is that ...

4. Unless those smart-ass Wall St idiots ...

5. I am not trying to say that now is a good time to buy ...

6. In light of the above, I don't, at this stage, intend taking any "shorts"...

7. Put bluntly, I didn't react quick enough ...

PLEASE NOTE I could be wwwwwrong !!!!

Ignored

Quoting Isotonic

Disliked

13450 is an intersting level. i see some potential around there but perhaps 10 pips higher - for now it remains to be seen how it consolidates on support and for me there is a downtrend line still to break.

Ignored

Quoting jacko

Disliked

PS I am betting using some of my 500 pip winnings (from 1.3300 to 1.3800). So far, I have given 50 pips back (1.3650 to 1.3600).

Ignored

Quoting jacko

Disliked

Well, the Market didnt rise up to 1.3500 for a second touch. However, I have left the 1.3500 stop buy in place.

ANOTHER BIG CALL !!!!!!!!!

I haven't gone "short"...and don't intend to go "short"...

Ignored

Quoting jacko

Disliked

Time frames (for me) as a Trend Trader

I start with weekly, then move closer in using daily, 4 hour and 1 hour to help me make a decision. Less than 4 hours tends to be "noise" rather than a "trend". They are the "sucker" rallies and declines.
PS Don't be the sucker...

But I am also starting to notice that it doesn't really matter anymore where I buy or sell.
The anti-hedging strategy is FAR, FAR, FAR more important.

The anti-hedging strategy ensures that,... if you make a trade in the wrong direction,.... you can get your losses back ...AND you are in the direction of the trend.
Stick a trailing stop loss on it and you are guaranteed a profit.

So...
1. If your trade is a winner, you stick a trailing stop loss on it and let it run.

2. If your trade is a loser, employ the anti-hedging strategy, and at some time, you can get your losses back ...AND you are in the direction of the trend. Stick a trailing stop loss on it and let it run.

K.I.S.S. (keep it short and simple)




.

Ignored