Jacko's Forex House of Pleasure and Pain | Page 42 | Forex Factory

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Jacko's Forex House of Pleasure and Pain

  • #821
  • Sep 14, 2007 11:56am Sep 14, 2007 11:56am
Quoting jacko

As a result of reading those two books, I have had an interesting idea that I think will increase my returns by a further 25-30% for minimal risk. My ex-broker friend Mark is very excited about it....he is easily excitable !!...but he thinks that it is something special. I will be testing it out over the next couple of months and then will discuss it here, but I want to try to sort out the best way
to do the new trades to maximise my returns but limit the risk to acceptable limits. If it works, I will share the method here.


.
Sooooo looking forward to reading this.....
  • #822
  • Sep 14, 2007 12:43pm Sep 14, 2007 12:43pm
i don't know if it's mentioned already but you should of received a couple of emails from merlin explain the 1KT concept and the trading room you can access.

basically a whole bunch of people have vouched for you as having more than 1000 real, live trades that has earned you the little green badge under your name, and more than two vouches have earned you the right to post there. to see who vouched for you, check your profile.

the faq is here explaining all:

http://www.forexfactory.com/faq.php?faq=1kt

if you have any questions then PM one of the mods, or contact merlin.

Quoting jacko
Hi erkro,

I am sorry but I know almost nothing about the 1KT trader stuff. I think it is for certain traders? I am not real sure how I have become one, or what I am supposed to do, so I will just keep on doing what I am doing.

PS Congratulations on your 20% increase in your account


.
  • #823
  • Sep 14, 2007 4:39pm Sep 14, 2007 4:39pm
Here ´s a summary of my EUR/USD long positions (profit in pips) to show the advantages of long term trading in the direction of the trend.
Attached Image
Common sense is not so common.
  • #824
  • Sep 14, 2007 11:41pm Sep 14, 2007 11:41pm
the recent rise in price is probably due to expected rate cut in usd......better pray they don't drop the bomb and let it stay unchanged.........

if only i was around at home when it went above 1.3900......what do you experts think ? will we get a nasty surprise and the eur will drop like a stone ?
  • #825
  • Sep 16, 2007 9:02pm Sep 16, 2007 9:02pm
So we were stopped out at .3871...now we wait for it to hit .3821 before we set our trade again to re-enter at .3871, right?

Since we are aiming for round numbers & 50% fibo line, do we also want to enter again at .3900?
  • #826
  • Sep 16, 2007 10:56pm Sep 16, 2007 10:56pm
Quoting Sephroth08
So we were stopped out at .3871...now we wait for it to hit .3821 before we set our trade again to re-enter at .3871, right?

Since we are aiming for round numbers & 50% fibo line, do we also want to enter again at .3900?
the re-entry at 3871 should be the anti hedge for your original trade at 3900, so i dont enter again at 3900, until the anti hedge resolves.... i generally only enter on the xx00's so i would add to my position at 1.4000 (assuming price reaches that point).
  • #827
  • Sep 16, 2007 11:21pm Sep 16, 2007 11:21pm
Quoting Sephroth08
So we were stopped out at .3871...now we wait for it to hit .3821 before we set our trade again to re-enter at .3871, right?

Since we are aiming for round numbers & 50% fibo line, do we also want to enter again at .3900?

Sephroth08,

As I understand it, A-H is only used when you have had a loosing trade.

Neil.
  • #828
  • Sep 16, 2007 11:45pm Sep 16, 2007 11:45pm
i guess i was making an assumption there when the poster said they were stopped at 3871... i had added positions at 3800 and 3900, so i am planning on reentering at 3870, if and when price drops... but yes, would only anti hedge on a losing trade.
  • #829
  • Sep 17, 2007 12:40am Sep 17, 2007 12:40am
Quoting trevwest
i guess i was making an assumption there when the poster said they were stopped at 3871... i had added positions at 3800 and 3900, so i am planning on reentering at 3870, if and when price drops... but yes, would only anti hedge on a losing trade.
Dudes, you are missing the mark. you were stopped by the traling stop for a profit. the antihege does not apply after a profit. you can now look for a new enter point. Jacko always says to look for a place to get in cheaper than where you got out. if you got out at 3871, then just find a good price UNDER 3871. so look for 3850 or 3800. if price moves solidly upwards and it looks as tho it wont go down to 3850 then get in at 3900. but in a floating market like it is now, it will prolly go down to 3850 sometime before Bernenkes speech.
  • #830
  • Sep 17, 2007 1:39am Sep 17, 2007 1:39am
Quoting newbietrader101
Dudes, you are missing the mark. you were stopped by the traling stop for a profit. the antihege does not apply after a profit. you can now look for a new enter point. Jacko always says to look for a place to get in cheaper than where you got out. if you got out at 3871, then just find a good price UNDER 3871. so look for 3850 or 3800. if price moves solidly upwards and it looks as tho it wont go down to 3850 then get in at 3900. but in a floating market like it is now, it will prolly go down to 3850 sometime before Bernenkes speech.
not missing the point... i had a trade at 3900, it was stopped out for -30 at 3870... i was assuming that the previous poster was in the same situation.
  • #831
  • Sep 17, 2007 4:24am Sep 17, 2007 4:24am
Quoting trevwest
not missing the point... i had a trade at 3900, it was stopped out for -30 at 3870... i was assuming that the previous poster was in the same situation.
Hmm if I'm not mistaken, if you buy at 3900 .. you are not buying the dip. Jacko advises buying the dips.

Btw, it seems to me that 3850 is a good buy. A good dip.
  • #832
  • Sep 17, 2007 4:53am Sep 17, 2007 4:53am
Hi,

Any logic of dollar strength before expected rate cut?
  • #833
  • Sep 17, 2007 5:37am Sep 17, 2007 5:37am
Quoting newbietrader101
Dudes, you are missing the mark. you were stopped by the traling stop for a profit. the antihege does not apply after a profit. you can now look for a new enter point. Jacko always says to look for a place to get in cheaper than where you got out. if you got out at 3871, then just find a good price UNDER 3871. so look for 3850 or 3800. if price moves solidly upwards and it looks as tho it wont go down to 3850 then get in at 3900. but in a floating market like it is now, it will prolly go down to 3850 sometime before Bernenkes speech.

Hi Newbietrader101,

You are correct. However, I think that it may be worth waiting until just before Mr Bernanke starts to make his statement. We may see 1.3800.

I see no reason to take a position just yet. Now is a good time to be NOT in the market.


.
  • #834
  • Sep 17, 2007 5:55am Sep 17, 2007 5:55am
Quoting luqmanz
Hmm if I'm not mistaken, if you buy at 3900 .. you are not buying the dip. Jacko advises buying the dips.

Btw, it seems to me that 3850 is a good buy. A good dip.

Hi Luqmanz,

You are also correct. However, I think that it may be worth waiting until just before Mr Bernanke starts to make his statement. We may see 1.3800.

I see no reason to take a position just yet. Now is a good time to be NOT in the market.


.
  • #835
  • Sep 17, 2007 6:00am Sep 17, 2007 6:00am
Quoting jacko
Hi Luqmanz,

You are also correct. However, I think that it may be worth waiting until just before Mr Bernanke starts to make his statement. We may see 1.3800.

I see no reason to take a position just yet. Now is a good time to be NOT in the market.


.
3800 is "crazy and you are wrrroonnnggg".

Everytime I have this kind of thoughts, it turns out you are RRRIIIGGGHHTTT

Me too staying aside until Fed. My bet is "no-cut + BS + selloff" tomorrow. In this case, euro could be a buy at 3800 from below or 3750 that is the 50% fib of last bullrun.. (fib 3551 - 3927)
  • #836
  • Sep 17, 2007 6:07am Sep 17, 2007 6:07am
Just started a thread on carry baskets using the AH strategy.

Maybe you guys could help. I could be WRRRRROOOONG.

http://www.forexfactory.com/showthread.php?t=47342
  • #837
  • Sep 17, 2007 6:11am Sep 17, 2007 6:11am
Quoting luqmanz
Hmm if I'm not mistaken, if you buy at 3900 .. you are not buying the dip. Jacko advises buying the dips.

Btw, it seems to me that 3850 is a good buy. A good dip.
well, as i said in several previous posts... i was adding to an open position. when price reached 3900, i had 2 lots open from 3670 (an anti-hedge), 1 lot open at 3800, so i continued to ride the trend. i would have got in at 3900 regardless, i dont get a lot of time at the computer, due to work and school, so i dont have the luxury of timing entrys. i set buy stops at xx00 prices, when i believe price trends up... my win % is less, but with the anti hedge, i am well in profit.

From one of Jacko's earlier posts...
Quote
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.
  • #838
  • Sep 17, 2007 6:51am Sep 17, 2007 6:51am
Quoting trevwest
well, as i said in several previous posts... i was adding to an open position. when price reached 3900, i had 2 lots open from 3670 (an anti-hedge), 1 lot open at 3800, so i continued to ride the trend. i would have got in at 3900 regardless, i dont get a lot of time at the computer, due to work and school, so i dont have the luxury of timing entrys. i set buy stops at xx00 prices, when i believe price trends up... my win % is less, but with the anti hedge, i am well in profit.

From one of Jacko's earlier posts...

Hi Trevwest,

You are not doing anything wrong !!!......

You are just doing things a little different.

I just prefer to be a little bit more selective when I buy. However, your strategy will still be successful.

As you have already found, your "win % is less, but with the anti hedge, i am well in profit."

No-one (Newbietrader101 or Luqmanz) is trying to criticise you...they are just trying to show you a possible better alternative.



.
  • #839
  • Sep 17, 2007 7:14am Sep 17, 2007 7:14am
Quoting SeekingLight
Hi jacko, wondering whether you're looking at 1.3800 and 1.3740 / 1.3750 as well

I'm looking to get in again "at a cheaper price"

Got a handful of reasons why it might not be the worst idea at 1.38...but keeping an open mind towards the second level as well.

BR,

SL

I'll just pretend one of the above posts included an answer to me as well with the "We may see 1.3800" ;p

Good good..
Trust price. Know yourself.
  • #840
  • Sep 17, 2007 7:26am Sep 17, 2007 7:26am
Quoting jacko
Hi Trevwest,

You are not doing anything wrong !!!......

You are just doing things a little different.

I just prefer to be a little bit more selective when I buy. However, your strategy will still be successful.

As you have already found, your "win % is less, but with the anti hedge, i am well in profit."

No-one (Newbietrader101 or Luqmanz) is trying to criticise you...they are just trying to show you a possible better alternative.
.
thanks jacko,

i understand their view point... i would prefer to buy on the dips myself, but i have to use buy limits (catching the falling knife) which i have had less success with, or i always seem to miss the opportune moments... buying on the round #s when price is going up is working for me, so I plan on sticking to that...

trev
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