Jacko's Forex House of Pleasure and Pain | Page 44 | 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

  • #861
  • Sep 18, 2007 9:30pm Sep 18, 2007 9:30pm
Jacko,
I search for your posts every day(right after I kiss my wife). I hang on your every post. I would come to Europe or Asia to study under your tutleage except our USD is basically worthless and I can't afford to travel because of the idiot from Texas. Therefore, I can only learn from your all to infrequent(for me) posts.

I agree that the USD is at a crossroad. I would be interested to hear your thoughts on how the China Syndrome might play out in the next say 6-12 months.

By the way, I have read all of your posts(more than once) and find your comments seem to be tailored to the common man and some are down right funny.

Archer(Bob)

p.s.
Tell Mark to post every once in a while. What the heck, he must be a good trader or you wouldn't have him watch your account. I want to hear from crazy guy Mark.
  • #862
  • Sep 18, 2007 9:33pm Sep 18, 2007 9:33pm
Quoting jacko
Unfortunately, I didnt get in at 1.3800, so I had to buy in the 90 minutes before Mr Bernanke spoke (ave price 1.3870).

The USD is being re-rated by the world economies. Look for a HUGE shift in the balance of Chinese holdings in the next twelve months. Japan will also follow China.


.
Jacko, you've made some very good points and I agree with your assessment. Do you plan on following the TICs data to validate your assessment? I'm thinking we should see reduced investment in US treasuries, but this could be way wrong. Just my thoughts.
  • #863
  • Sep 18, 2007 10:14pm Sep 18, 2007 10:14pm
i was fortunate enough to wake up at 2am this morning, saw that price had falled to 3827... so i entered a buy stop at 3870... for my much ballyhooed 3900 trade anti hedge... currently +105, ts at 3930... covering my -30 loss and guaranteeing me at least 30 pips profit... tempted to add to my position if price goes up to 4000, but price bouncing off my upper weekly trendline right now... not confident in adding.... going to try to stay up to see how the london session starts off...
  • #864
  • Sep 19, 2007 11:25am Sep 19, 2007 11:25am
Quoting jacko
Unfortunately, I didnt get in at 1.3800, so I had to buy in the 90 minutes before Mr Bernanke spoke (ave price 1.3870).
50 pips off the high traded (1.3937).

I assume you're out here. What's your take from here? I would find it odd to see 1.3900 being traded 1-2 days after the Fed cut. But I can't figure out how to get back to the market if 1.4+ is to be traded...
  • #865
  • Sep 19, 2007 12:00pm Sep 19, 2007 12:00pm
Quoting Archer
Jacko,
I search for your posts every day(right after I kiss my wife). I hang on your every post. I would come to Europe or Asia to study under your tutleage except our USD is basically worthless and I can't afford to travel because of the idiot from Texas. Therefore, I can only learn from your all to infrequent(for me) posts.

I agree that the USD is at a crossroad. I would be interested to hear your thoughts on how the China Syndrome might play out in the next say 6-12 months.

By the way, I have read all of your posts(more than once) and find your comments seem to be tailored to the common man and some are down right funny.

Archer(Bob)

p.s.
Tell Mark to post every once in a while. What the heck, he must be a good trader or you wouldn't have him watch your account. I want to hear from crazy guy Mark.


Hi Archer,

Thanks for your kind words. I really appreciate it

By the way, I have spoken to Mark...or rather, he has spoken to me...on numerous occasions....and he has absolutely no interest in posting in this forum or any other forum. Like most brokers, he is waay past talking to anyone about trading stategies etc.

He just wants to trade and make money!!!!

He says that he has seen it all and heard it all many times before (especially from inexperienced traders who think that they know it all) . He just wants to read his Bloomies, Reuters, Wall St Journal and Financial Times.

Then, he just wants to trade and make money!!!!

He doesnt want to tell anybody on forums anything because he thinks it is just a waste of time. He is a bit cynical and jaded, our Mark, but we all love him. He doesn't try to be rude or anything...it's just that...

he just wants to trade and make money!!!!


If anyone is waiting for a comment from Mark, then I suggest that you contact me as soon as you see a pig flying past. (his favourite expression is "... and pigs might fly !!!)


.
  • #866
  • Sep 19, 2007 12:13pm Sep 19, 2007 12:13pm
Quoting cesarnc
50 pips off the high traded (1.3937).

I assume you're out here. What's your take from here? I would find it odd to see 1.3900 being traded 1-2 days after the Fed cut. But I can't figure out how to get back to the market if 1.4+ is to be traded...
Hi cesarnc,

We actually got out earlier. We decided that the rise was a bit over-emotional and we thought that it would retrace within 48 hours so we got out six hours after the announcement at 1.3968.

However, you are correct in that if we had left our positions we would have been stopped out at 1.3937 for a profit of 67 pips less expenses.

I think that the market may retrace back to the low 1.3900's and...maybe even sub 1.3900. However, it will be a short term thing.

I am still working all my trades on the basis that this will go to 1.4500 within the next twelve months.



.
  • #867
  • Sep 19, 2007 12:30pm Sep 19, 2007 12:30pm
Quoting Afxtrader
Jacko, you've made some very good points and I agree with your assessment. Do you plan on following the TICs data to validate your assessment? I'm thinking we should see reduced investment in US treasuries, but this could be way wrong. Just my thoughts.

Hi Afxtrader,

Yes, the TIC data is always useful to confirm my fundamental views about the flow of international trade.

This was an interesting post in the News section some days ago.
http://www.forexfactory.com/news.php?do=news&id=47542
especially the part that said "This report may indicate, if it follows the same pattern next month, that those countries are looking elsewhere to park their investments. Maybe China has found its own way to combat possible trade sanctions from the US; stop buying US debt."

I am certain that China (and most other countries such as Saudi Arabia, Japan, Grmany, France, Russia, Iran, Venezuala etc) are all looking to rapidly park their investments (especially any new trade payments) anywhere BUT the US.


Anyway, most people here find the fundamental rationales boring so I won't go any further.

We are here to trade and make money (as a friend of mine says).

So...wait for a retracement/dip...then go long...and go strong !!!


.
  • #868
  • Sep 19, 2007 12:30pm Sep 19, 2007 12:30pm
Quoting jacko
Hi cesarnc,

We actually got out earlier. We decided that the rise was a bit over-emotional and we thought that it would retrace within 48 hours so we got out six hours after the announcement at 1.3968.

However, you are correct in that if we had left our positions we would have been stopped out at 1.3937 for a profit of 67 pips less expenses.

I think that the market may retrace back to the low 1.3900's and...maybe even sub 1.3900. However, it will be a short term thing.

I am still working all my trades on the basis that this will go to 1.4500 within the next twelve months.



.
Thanks Jacko...

But I still see a lot of buying pressure here. Specially compared to cable that is melting down today (as the result EURGBP soared to 2 years high) and to swiss that was unable to crack a damn strong trendline at 1.18 (but looks like determined to)...

As I write, euro is back above the 23% fib from yesterday's low and way above the 23% fib (3551 - 3987), denoting bulls still the area, still hungry

The weekly trendline (now at ±1.4) is another source of concern. But I dare saying that there is a second leg to go after Fed's move. C´mon, this was a huge move... As a friend says "trendlines are made to be broken" (hopefully)
  • #869
  • Sep 19, 2007 12:45pm Sep 19, 2007 12:45pm
Quoting cesarnc
Thanks Jacko...

But I still see a lot of buying pressure here. Specially compared to cable that is melting down today (as the result EURGBP soared to 2 years high) and to swiss that was unable to crack a damn strong trendline at 1.18 (but looks like determined to)...

As I write, euro is back above the 23% fib from yesterday's low and way above the 23% fib (3551 - 3987), denoting bulls still the area, still hungry

The weekly trendline (now at ±1.4) is another source of concern. But I dare saying that there is a second leg to go after Fed's move. C´mon, this was a huge move... As a friend says "trendlines are made to be broken" (hopefully)
Hi cesarnc,

You may be right. We are still looking to get back in......but we are simply looking for a "cheaper" price.

I am not in a rush....if we see a good opportunity we will take it, but we are patient and think that there may be a better opportunity in 48-72 hours. (Maybe less, maybe more.... the price action will tell us).

Also, 1.4000 is a big-ass strong round number so I think that resistance will be strong so it may probe around it for a while and probably even make a few false breaks through it, before punching through on its way to 1.45.

As an example, take a look at how hard it has been for the GBP to break cleanly away from 2.0000.
.
  • #870
  • Sep 19, 2007 12:48pm Sep 19, 2007 12:48pm
Quoting jacko

Also, 1.4000 is a big-ass strong round number so I think that resistance will be strong so it may probe around it for a while and probably even make a few false breaks through it, before punching through on its way to 1.45.
.
Good point... Seen euro doing that before. stabbing twice or 3 times before killing. Can't blame her, that is what I would do against big-ass strong round opponent LOL...

I'll be watching, here. Thanks for your comments.
  • #871
  • Sep 19, 2007 11:27pm Sep 19, 2007 11:27pm
Quoting jacko
Hi cesarnc,

You may be right. We are still looking to get back in......but we are simply looking for a "cheaper" price.

I am not in a rush....if we see a good opportunity we will take it, but we are patient and think that there may be a better opportunity in 48-72 hours. (Maybe less, maybe more.... the price action will tell us).

Also, 1.4000 is a big-ass strong round number so I think that resistance will be strong so it may probe around it for a while and probably even make a few false breaks through it, before punching through on its way to 1.45.

As an example, take a look at how hard it has been for the GBP to break cleanly away from 2.0000.
.


Hi cesarnc,

Thanks for your pm. It appears that Bloomies is now looking at 1.4200 to 1.4300 by end of this year.

http://www.bloomberg.com/apps/news?pid=20601087&sid=a2kCU0OcMxLk&refer=home

I don't know if that is a good thing or a bad thing...


.
  • #872
  • Sep 20, 2007 12:34am Sep 20, 2007 12:34am
Quoting jacko
Thanks for your pm. It appears that Bloomies is now looking at 1.4200 to 1.4300 by end of this year.
While on the topic of news, BNP Paribas estimates the euro heading to 1.50 by 1Q08 on fears of the Saudi's breaking the riyal/USD peg. link (http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/09/19/bcnsaudi119.xml)
  • #873
  • Sep 20, 2007 1:45am Sep 20, 2007 1:45am
I bought the dip at 3950 ... hope the trend is going strong .....
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.jpg Size: 17 KB
  • #874
  • Sep 20, 2007 2:04am Sep 20, 2007 2:04am
Quoting luqmanz
I bought the dip at 3950 ... hope the trend is going strong .....
good move... i am still long from 3870... fortunately my brokers trailing stop only moves every 10 pips... so the retrace down to 3934 didnt take me out... 4 pips from my stop.... added a position at 4000, stops now at 3980, so worst case +110 on lot 1, -20 on lot 2...
  • #875
  • Sep 20, 2007 2:06am Sep 20, 2007 2:06am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting trevwest
good move... i am still long from 3870... fortunately my brokers trailing stop only moves every 10 pips... so the retrace down to 3934 didnt take me out... 4 pips from my stop.... added a position at 4000, stops now at 3980, so worst case +110 on lot 1, -20 on lot 2...
i put a tp at 1.4000 should have left it to the SL. still entered at 1.38 and 1.39,

thanks jacko for making my life so much easier.

patceince now to wait for a new entry point.
  • #876
  • Sep 20, 2007 2:07am Sep 20, 2007 2:07am
Quoting jacko
Hi cesarnc,

Thanks for your pm. It appears that Bloomies is now looking at 1.4200 to 1.4300 by end of this year.

http://www.bloomberg.com/apps/news?pid=20601087&sid=a2kCU0OcMxLk&refer=home

I don't know if that is a good thing or a bad thing...


.
at 1.4027 (now) I say "good thing" LOL...

Something hit me when euro got back to 3970 yesterday, and I decided to "sacrifice" some of the previous profit for the sake of being here IF madness (1.4 out of nowhere) was to kick in. LOL.....

Now TP partial and lock 1/2 in profit below the figure. I want to see the end of this
  • #877
  • Sep 20, 2007 3:01am Sep 20, 2007 3:01am
Quoting cesarnc
Good point... Seen euro doing that before. stabbing twice or 3 times before killing. Can't blame her, that is what I would do against big-ass strong round opponent LOL...

I'll be watching, here. Thanks for your comments.
Is that enough stabbing for you USD??? Talk about going deep into the 40's.
I had a buy stop @ 1.4010 to be triggered since yesterday, R:R=1.
I must confess I got surprised this morning to see those 20pips bagged in.:surprised
  • #878
  • Sep 20, 2007 3:23am Sep 20, 2007 3:23am
got in @.3968 yesterday, very surprised got stopped out @ T/P .4018 .lesson learned,should stick to the original plan trailing stop. but 50 pips is still sweet profit.
thanks again Jacko
  • #879
  • Sep 20, 2007 8:07am Sep 20, 2007 8:07am
sigh.......wasn't home when it broke out of trading range to go above 1.4000.........i guess that's life.........

seems to be in a descending triangle now ??? waiting for breakout or retracement now......
  • #880
  • Sep 20, 2007 10:10am Sep 20, 2007 10:10am
What a ride........

8 traders viewing now