Jacko's Forex House of Pleasure and Pain | Page 38 | 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

  • #741
  • Aug 30, 2007 6:55pm Aug 30, 2007 6:55pm
Quoting cesarnc
There is a nice.. not nice...a big, not big, a MONSTROUS breakout across the board in the cooking right now...

This is one kind of setup we ask God for. We have to wait months to find one of these bad boys.


How many of these have you seen and traded before and how certain are you of pattern probability and direction?
What are your triggers and possible endpoints / projected targets?

What does the formation mean in itself?
Trust price. Know yourself.
  • #742
  • Aug 30, 2007 8:16pm Aug 30, 2007 8:16pm
Quoting vinnie99


LOL,

Are you hoping for a breakout? Me noo. breakout are very dangerous.
Most breakouts are Fake. Dont trust them.
I see what happens next.
Don't worry about it. In this business, it's nice to have hopes, it's sad to have your hopes crushed but if you stick to your MM rules (trail stops etc), you are immortal, as immortal as Jacko's soldiers
  • #743
  • Aug 30, 2007 8:27pm Aug 30, 2007 8:27pm
Quoting SeekingLight
How many of these have you seen and traded before and how certain are you of pattern probability and direction?
What are your triggers and possible endpoints / projected targets?

What does the formation mean in itself?
Triangles are psychological.

If the previous trend is bullish
1) the upper side (bearish) shows a selling (profit-taking). Selling lower and lower because they are afraid if the price never return to the last maxima.
e.g : Oh crap... price is going down. 1800 is the highest, I'll sell at 1780 when it comes back there).
2) the lower side (bullish) shows people (who previously took profit or missed the last rally) are buying the dips, they are buying higher and higher because they are afraid of missing the move.
e.g : Oh crap again.... 1600 seems like a support, it 1650 now .. I'll buy limit at 1620
Attached Image
  • #744
  • Aug 31, 2007 1:46am Aug 31, 2007 1:46am
Quoting vinnie99
As expected the EUR/USD currency went down at the London opening.
I have a loss of 13 pips and earned 101 pips from my 1.3678 trade.

I have also bought the EUR/USD today according the "trendfollowing" rules at an institutional level of 1.3570 and re-enter the trade at 1.3578.

My trades today are:

Limit 1.3570 Stop Loss 1.3556 expect 160+
Limit 1.3578 Stop Loss 1.3556 expect 100+

GREAT DAY!
I am already immortal as Jacko´s soldiers . It is so funny to see some of my very old trading system back in most of forexfactory members here.

And Oh Yeah! Today I have booked 103 pips one of my trades.
  • #745
  • Aug 31, 2007 2:19am Aug 31, 2007 2:19am
Quoting vinnie99
I am already immortal as Jacko´s soldiers . It is so funny to see some of my very old trading system back in most of forexfactory members here.

And Oh Yeah! Today I have booked 103 pips one of my trades.
Dude, where is your very old trading system, what is it.
  • #746
  • Aug 31, 2007 2:37am Aug 31, 2007 2:37am
Quoting newbietrader101
Dude, where is your very old trading system, what is it.
Trendfollowing, breakouts and daytrading (Scalping). These dont work with me.

But the Trend are very important for me since i am buying on the lows and sell highs. Hedge is also a great tool for trading in a non direction market like now.

  • #747
  • Aug 31, 2007 3:01am Aug 31, 2007 3:01am
Quoting vinnie99
Trendfollowing, breakouts and daytrading (Scalping). These dont work with me.

But the Trend are very important for me since i am buying on the lows and sell highs. Hedge is also a great tool for trading in a non direction market like now.

How do you know when you are buying on thelows and selling the highs, how does your hedge work, can you point me to your old posts that show your system
  • #748
  • Aug 31, 2007 3:02am Aug 31, 2007 3:02am
Quoting vinnie99
Trendfollowing, breakouts and daytrading (Scalping). These dont work with me.

But the Trend are very important for me since i am buying on the lows and sell highs. Hedge is also a great tool for trading in a non direction market like now.

Hi Vinnie99!

Sorry, but now I must ask you a question.
I read Post 722 from you and am not sure that you mean the same Hedge like Jacko meant, because Jacko speaks about his Antihedge Strategie and it has nothing to do with Hedging.
Please don't understand me wrong, it works for you and that is ok, but I only wanted to know if we speak about the same AH Strategie, because you wrote in Post 722 that you have a Long and a Short and you could be wrong both sides, YES THAT'S RIGHT. I don't want to critisize you, and it is ok if it works for you, but I think the newbies could understand the AH Strategie in a wrong way, because you are Hedging, and in this Journal we should only discuss about Jako's Strategie, and he does not Hedging, he uses his Antihedge Strategie.

Regards Erkro
  • #749
  • Aug 31, 2007 3:06am Aug 31, 2007 3:06am
Quoting newbietrader101
How do you know when you are buying on thelows and selling the highs, how does your hedge work, can you point me to your old posts that show your system
Hi Newbietrader,
Sorry I was typing while you was writing around the same question. There could be more or answers while I am sloooooowly typing.
Sorry.
Regards Erkro
  • #750
  • Aug 31, 2007 3:26am Aug 31, 2007 3:26am
Quoting erkro
Hi Vinnie99!

Sorry, but now I must ask you a question.
I read Post 722 from you and am not sure that you mean the same Hedge like Jacko meant, because Jacko speaks about his Antihedge Strategie and it has nothing to do with Hedging.
Please don't understand me wrong, it works for you and that is ok, but I only wanted to know if we speak about the same AH Strategie, because you wrote in Post 722 that you have a Long and a Short and you could be wrong both sides, YES THAT'S RIGHT. I don't want to critisize you, and it is ok if it works for you, but I think the newbies could understand the AH Strategie in a wrong way, because you are Hedging, and in this Journal we should only discuss about Jako's Strategie, and he does not Hedging, he uses his Antihedge Strategie.

Regards Erkro
I also use Anti-hedge. But it is for me like if this low is broken i look for the another lows. I dont have a name for this one. But I am sure it looks like an anti-hedging methode from jacko.
  • #751
  • Aug 31, 2007 3:28am Aug 31, 2007 3:28am
Quoting SeekingLight
How many of these have you seen and traded before and how certain are you of pattern probability and direction?
What are your triggers and possible endpoints / projected targets?

What does the formation mean in itself?
I know that you know what a triangle is. I know that you know the answers. My intention was sharing the info only. Not suggest a trade to take.

I got mine set. I know you have yours.
  • #752
  • Aug 31, 2007 5:09am Aug 31, 2007 5:09am
Quoting cesarnc
I know that you know what a triangle is. I know that you know the answers. My intention was sharing the info only. Not suggest a trade to take.

I got mine set. I know you have yours.
Hi cesarnc,

I don't.

I'm actually really curious about the questions. So far neither you nor luqmanz really answered them(although luq answered/gave a suggestion for the "what does it mean" part, thanks! =) ).

There's a reason I asked them because even though sure I can project targets around into space(high-low-point of wedge/triangle, projected from possible break area), I was wondering what the point of the info was if there is no setup attached to it.

No setup = no trade.
And I really don't know how one would trade that, simply because in my experience most of the time those things do anything except what you'd like them to do. Few exceptions of course, but only on a very much smaller scale(time&size wise). In turn my question about your experience with it.

And yes, I will readily admit I was very much also trying to point out that if you label things as a godsend and rare chance and opportunity, that I fully expect you to be able to explain why and in turn how to do it as well.

Why else would it be a godsend if it were not easily tradeable, had clear entries and exits and a solid and good expectancy?

Lacking that, what good is the setup? To me, without that in turn there is no setup in the first place.

Just trying to help learn and illustrate what's important to me in my trading.


Hope this does not offend.

Take care,

SeekingLight
Trust price. Know yourself.
  • #753
  • Aug 31, 2007 7:03am Aug 31, 2007 7:03am
long at 3700...
  • #754
  • Aug 31, 2007 8:37am Aug 31, 2007 8:37am
Quoting adelmonora
i have read post 8 , but i have a question...

In 2005 ,the trend is an uptrend... after about 1 january 2005 ,start a downtrend ok?

when you decide to go short ?

How you consider that trend a big move, and so trade that?

Thank you

i hope you understand what i mean....

Jacko, if I may....chart with some trendline basics the way I understand it at least...and with market crucial turnarounds.

This is a keeper chart
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_290807_giant.gif Size: 22 KB
Trust price. Know yourself.
  • #755
  • Aug 31, 2007 10:12am Aug 31, 2007 10:12am
Hi Jacko,
To bring our focus back to your method.

After looking at the charts I come up with 1.3550 as the next likely long entry since it is the 50% retracement of the move from 1.3359 on 8/16 to 1.3718 on 8/31. (It also lines up with the 62% fib from 1.3349 to 1.3718)

At that level we would be approaching my weekly trendline but I would suspect the pair will stay above the 1.3500 level, which is exactly where my trendline would intersect next weeks bar.

Do you see things in a similar light?

I was also wondering if you resurrect your soldier once again at 1.3329 since he seems to have been slightly injured again?

Thank You for all your help here, it is a great way to trade.
Camptrader
  • #756
  • Aug 31, 2007 10:49am Aug 31, 2007 10:49am
Quoting jacko
Again, another of my soldiers fell to enemy (short) fire.

However, Hallelujah, brother !!!!!!....
this soldier was not dead either......Hallelujah, brother !!!!!!....
he was only temporarily injured.....Hallelujah, brother !!!!!!....
and, given some serious "anti hedging" medicine, he is back in action at 1.3629......Hallelujah, brother !!!!!!

However, my soldiers are IMMORTAL (as long as the trend is still bullish)

Since the market is now at 1.3665, I have recouped ALL my losses from this earlier trade and am AGAIN now in profit (by just 6 pips).......and hopefully, in the trend in the right direction.

Hallelujah, brother !!!!!!....


THE WHOLE POINT OF A-H STRATEGY IS TO RE-COUP ANY AND ALL LOSSES WHEN THE MARKET IS "CORRECTING" AGAINST THE MAJOR TREND


This soldier is a VERY tough soldier (must be a Marine !!). A summary of this week is:

Trade 1

Bought at 1.3650
Market moved up to 1.3679.
Trailing Stop loss moved up to 1.3629 (1.3679 - 0.0050 = 1.3629).
Market then fell and was stopped out at 1.3629 for 21 pip loss.
Market has moved lower to 1.3579
A-H order has been placed. (Buy on stop at 1.3629)


Trade 2
Market fell to a low of 1.3562 then started rising
A-H order (buy on stop at 1.3629) activated at 1.3629
Market rose again to 1.3679.
Trailing Stop loss moved up to 1.3629 (1.3679 - 0.0050 = 1.3629).
Market then fell and was stopped out (some 26 hours ago) at 1.3629 for break even.


Net loss for the week was 21 pips plus expenses.
Not nice.... because it was a loss.
Not bad... because it was a choppy market with basically a 115 pip range (1.3679 to 1.3562) during the time that I was trading. (This type of shallow choppy market is the biggest enemy of a trend trader).
Not too damaging....because the A-H strategy limited losses

In hindsight...oh I love this stuff...(I shoulda ...I woulda ...I coulda...).
I should have stuck with my original plan (post 711) and kept my buy orders at 1.3600. I would have made 29 pips from first trade (1.3629 - 1.3600) and then would have gone back in at 1.3600. I then would have made 68 pips (1.3668 - 1.3600) from second trade. Total of 97 pips profit

Sooooo......What did I learn from this weeks trades? Stay with strategy considered and established on the weekend and don't alter course prematurely due to not wanting to miss a (potentially good) trade.


.
  • #757
  • Aug 31, 2007 11:49am Aug 31, 2007 11:49am
Quoting trevwest
long at 3700...
why go long at that level?

Dont hope for a big breakout. They are very dangerous in this business.
  • #758
  • Aug 31, 2007 12:04pm Aug 31, 2007 12:04pm
Quoting newbietrader101
How do you know when you are buying on thelows and selling the highs, how does your hedge work, can you point me to your old posts that show your system
Nope, I dont have my own journal. I dont have all the time to do this.
If you want to learn how to make money on the Foreign Exchange Market, you should learn what the "psychological lines" means.

I am sure there are a lot of people here on the forexfactory dont know why there is a trend, support and resistence. They use these lines, but dont know why the psychological lines exist.
  • #759
  • Aug 31, 2007 12:46pm Aug 31, 2007 12:46pm
Quoting jacko
Sooooo......What did I learn from this weeks trades? Stay with strategy considered and established on the weekend and don't alter course prematurely due to not wanting to miss a (potentially good) trade.
.




Had the same problem here Thursday, I can relate and hope that this sort of insight will help you avoid anything rash in the future. Nothing worse than knowing the original plan woulda made nice pips.

I think that's the real purpose of a journal - to help one realize one's own mistakes and grow from them

I still think you did good, all things considered, especially under the conditions which were like you said

Wishing you a great weekend,


SeekingLight
Trust price. Know yourself.
  • #760
  • Aug 31, 2007 1:14pm Aug 31, 2007 1:14pm
One of the best pieces of advice I ever received in trading was "Only make changes to your system on a weekend."
7 traders viewing now