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Jacko's Forex House of Pleasure and Pain

  • #941
  • Sep 30, 2007 12:01pm Sep 30, 2007 12:01pm
Quoting jacko
This idea is turning out to be something quite interesting. It is an easy fit to my current trading strategy. And it appears that it will increase my returns by more than we originally thought, with no impact on my existing trading strategy. (It is a bolt-on method that can stand alone from existing trading method) However, I developed this in cooperation with a friend of mine and he is definitely not keen for me to share it.
.
Is it purely a money management idea(add second set of trades at point x with same TS logic, say) or a complete trading idea including entry and exit logic?

I had originally thought it'd be a more MM focussed something, but this sounds like it might be more

Haven't read those two books, else I'd try for a more educated guess
Trust price. Know yourself.
  • #942
  • Sep 30, 2007 1:11pm Sep 30, 2007 1:11pm
Quoting jacko
This idea is turning out to be something quite interesting. It is an easy fit to my current trading strategy. And it appears that it will increase my returns by more than we originally thought, with no impact on my existing trading strategy. (It is a bolt-on method that can stand alone from existing trading method) However, I developed this in cooperation with a friend of mine and he is definitely not keen for me to share it.


.
I just ordered the two books you mentioned from Amazon. Can't wait to read them. One of the books is the New Market Wizards, it is slightly different than the Stock Market Wizards I believe, but worth a read too.
PS: if I manage to figure out the strategy, would you be keen to confirm it, Jacko? :
Take a report.
  • #943
  • Oct 1, 2007 5:55am Oct 1, 2007 5:55am
Quoting CateFul
I just ordered the two books you mentioned from Amazon. Can't wait to read them. One of the books is the New Market Wizards, it is slightly different than the Stock Market Wizards I believe, but worth a read too.
PS: if I manage to figure out the strategy, would you be keen to confirm it, Jacko? :


good idea to confirm by PM and then you can PM the rest of us ?
  • #944
  • Oct 1, 2007 6:15am Oct 1, 2007 6:15am
This thread is very quiet lately. Has everyone moved? I will begin trading Jacko's method this week. Currently have buy order at 1.4211(not demo trading). Thanks, Jacko. Pippo
Vincit qui se vincit.
  • #945
  • Oct 1, 2007 6:15am Oct 1, 2007 6:15am
Hi Jacko,

I am interested to know how you trade in the recent market condition in which there has not been a significant retrace for quiet a few days (since August) on the EURUSD daily . Do you wait on the side for a retrace or are you buying at new high breakouts as well?

Keep up the excellent work!!

R.
  • #946
  • Oct 1, 2007 7:50am Oct 1, 2007 7:50am
Quoting Pippopotamus
This thread is very quiet lately. Has everyone moved? I will begin trading Jacko's method this week. Currently have buy order at 1.4211(not demo trading). Thanks, Jacko. Pippo
Hi Pippo,

I like it when this thread is quiet.....

It either means that the serious traders are quietly trading this method and making a lot of money OR it means that the "noisy" posters find it too boring and dont fill it up with useless rubbish.

It is not a live trading journal. However, the previous posts/information on this page is, I think, very valuable to serious traders.


.
  • #947
  • Oct 1, 2007 8:08am Oct 1, 2007 8:08am
Hi Jacko, I have read every post in this thread. At this point I am still learning this business. I don't think I can contribute much of value yet and don't want to clutter things up with a lot of newbie stuff. Despite my best efforts to lose all of my money this past ten months, I still have enough left to make a go of it. Thanks, and continued success, Pippo
Vincit qui se vincit.
  • #948
  • Oct 1, 2007 8:25am Oct 1, 2007 8:25am
Quoting Trader KGB
jacko,

How have you been handling the post-1.40 runaway environment? There really hasn't been any dip/retrace for us value buyers to enter in. At what point did you get back in after having last exited at 1.3968?

Quote
Originally posted by Rancliff

Hi Jacko,

I am interested to know how you trade in the recent market condition in which there has not been a significant retrace for quiet a few days (since August) on the EURUSD daily . Do you wait on the side for a retrace or are you buying at new high breakouts as well?

Keep up the excellent work!!

R.

Hi Trader KGB and Rancliff,

We have been aggressively buying from 1.4000 to 1.4250 in 50- 100 pip increments. (The 50 point interest rate drop was like an electric current to Marks butt. We have been buying like drunken sailors in a bar after 12 months at sea).

However we have the VERY big advantage that we are playing with the Casinos money (that is, our winnings from previous trades which are VERY substantial).

The combined effects of trading with a strong trend, leverage and compounding result in incredible returns. (See my previous posts #935 to 938)


.
  • #949
  • Oct 1, 2007 8:43am Oct 1, 2007 8:43am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Been compounding this pair and the AU using your system from .8600 and 1.3800.

i've been using a trailing stop which is automatic rather than manual, wished it had been manual as i got stoped out on all trades except one from 1.4100. still all in profit. i have now placed new orders at both 1.4200 and 1.4250.

i expect to see a retracement to 1.4200 so i am covering my options.

thanks to you i had my best ever month in Sept.

many thanks

MPP
  • #950
  • Oct 1, 2007 8:36pm Oct 1, 2007 8:36pm
A $200 Billion Fund was launched today by the China government.

The implications are immense.


.
  • #951
  • Oct 1, 2007 8:42pm Oct 1, 2007 8:42pm
Quoting jacko
A $200 Billion Fund was launched today by the China government.

The implications are immense.


.
You saw that too eh Jacko. Yeah... it's gonna be interesting.
Mr. Trend
  • #952
  • Oct 1, 2007 11:50pm Oct 1, 2007 11:50pm
Quoting jacko
Hi Trader KGB and Rancliff,

We have been aggressively buying from 1.4000 to 1.4250 in 50- 100 pip increments. (The 50 point interest rate drop was like an electric current to Marks butt. We have been buying like drunken sailors in a bar after 12 months at sea).

However we have the VERY big advantage that we are playing with the Casinos money (that is, our winnings from previous trades which are VERY substantial).

The combined effects of trading with a strong trend, leverage and compounding result in incredible returns. (See my previous posts #935 to 938)


.

Yup. Last week I scored more $$$ than I have ever made in a week before. last week was exciting, scarey and a whole lotta fun. I totaly went for it.
  • #953
  • Oct 2, 2007 1:45am Oct 2, 2007 1:45am
Quoting jacko
Hi Trader KGB and Rancliff,

We have been aggressively buying from 1.4000 to 1.4250 in 50- 100 pip increments. (The 50 point interest rate drop was like an electric current to Marks butt. We have been buying like drunken sailors in a bar after 12 months at sea).

However we have the VERY big advantage that we are playing with the Casinos money (that is, our winnings from previous trades which are VERY substantial).

The combined effects of trading with a strong trend, leverage and compounding result in incredible returns. (See my previous posts #935 to 938)


.
Jacko.. I'm a big believer in scaling in and do so myself... but I don't see how you can utilize a scaling in strategy without hurting your AH strategy and opening yourself up to more risk...

Clarification would be nice... and just hearing how others are triggering their scale-ins would be a benefit to me. Scaling in is an artform...
Mr. Trend
  • #954
  • Oct 2, 2007 5:35am Oct 2, 2007 5:35am
Quoting jacko
A $200 Billion Fund was launched today by the China government.

The implications are immense.


.

probably to get out of USD and also to try out your Anti-Hedging strategy !

dear Jacko, do you think your method will work on other XXX/USD pairs ?

i used your method on NZD/USD and EUR/CHF with quite good results......

many thanks.
  • #955
  • Oct 2, 2007 6:53am Oct 2, 2007 6:53am
Quoting jacko
A $200 Billion Fund was launched today by the China government.

The implications are immense.


.
1 Chinese yuan = 0.133172 U.S. dollars */-

2 possible outcomes.......

1. their money is weak and they will use this 200 BLN fund to shore up the dollar because of our trade deficet with them,
or
2. or they are pissed at us and will use it to further weaken the dollar as they shift to a stronger currency.....

or maybe I just don't have a clue..... and I'm just blowin smoke.
Same Whore .... Different Dress
  • #956
  • Oct 2, 2007 6:57am Oct 2, 2007 6:57am
Sorry but could someone go into more detail about the implications of this $200 billion Chinese fund (I didn't understand the specific implications from the Bloomberg article)--should it lead to further weakening of the dollar?
  • #957
  • Oct 2, 2007 6:58am Oct 2, 2007 6:58am
1. They will use it to sell Euros (primarily) versus the USD.

Will explain more later.


.
  • #958
  • Oct 2, 2007 7:08am Oct 2, 2007 7:08am
Quoting johnedoe
1 Chinese yuan = 0.133172 U.S. dollars */-

2 possible outcomes.......

1. their money is weak and they will use this 200 BLN fund to shore up the dollar because of our trade deficet with them,
or
2. or they are pissed at us and will use it to further weaken the dollar as they shift to a stronger currency.....

or maybe I just don't have a clue..... and I'm just blowin smoke.

3rd.
They'll sell cable and fiber to push $ higher.
When faith in $ returns , they'll quietly start selling their $ reserves...
  • #959
  • Edited 8:15am Oct 2, 2007 7:18am | Edited 8:15am
Quoting Mr Trend
Jacko.. I'm a big believer in scaling in and do so myself... but I don't see how you can utilize a scaling in strategy without hurting your AH strategy and opening yourself up to more risk...

Clarification would be nice... and just hearing how others are triggering their scale-ins would be a benefit to me. Scaling in is an artform...
Hi Mr Trend,

I wasnt scaling in.

Mark reacted like he had been hit with a cattle prod when the 50 point drop was announced and said that the impact of the 50 point drop would resonate for a week, so we were just grabbing as much as we could as cheap as we could all week. We even suspended the A-H strategy all week. (Mark was sleeping next to his computer and was monitoring it 24/7). We just thought that it was a "golden" opportunity that rarely comes along.

In hindsight, we were very reckless and a "little" (!!!!) undisciplined but we just decided to throw caution to the wind and risk a VERY substantial amount of our previous profits.We were buying all week. Last friday was the biggest total position I have ever held.
We junked everything late Friday to close out flat for the weekend and celebrated all weekend.

It is a strategy that worked brilliantly for us but I would NEVER recommend it to anyone else, especially here where there are inexperienced noobies.


.
  • #960
  • Oct 2, 2007 7:21am Oct 2, 2007 7:21am
Quoting jacko
Hi Mr Trend,

I wasnt scaling in.

Mark reacted like he had been hit with a cattle prod when the 50 point drop was announced and said that the impact of the 50 point drop would resonate for a week, so we were just grabbing as much as we could as cheap as we could all week. We even suspended the A-H strategy all week. (Mark was sleeping next to his computer and was monitoring it 24/7). We just thought that it was a "golden" opportunity that rarely comes along.

In hindsight, we were very reckless and a "little" (!!!!) undisciplined but we just decided to throw caution to the wind and risk a VERY substantial amount of our previous profits. Last friday was the biggest position I have ever held.
We junked everything late Friday to close out flat for the weekend and celebrated all weekend.

It is a strategy that worked brilliantly for us but I would NEVER recommend it to anyone else, especially here where there are inexperienced noobies.


.
It sure helps, when you have experienced broker by your side..
Well done...
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