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Jacko's Forex House of Pleasure and Pain

  • #1,081
  • Oct 8, 2007 1:55pm Oct 8, 2007 1:55pm
Quoting Mr Trend
I'm a buyer at 4000. Don't know why you guys are all so keen on buying in the 3800s... my analysis shows Fib confluence right at 4010... based on 4H... depends on where you plot it I suppose and of course, each broker is different.

From what I've seen, when you are in a strong trend, price doesn't fall back to 50% on dailys that often. It's usually a 4H 50% thing... besides... 4000 is a huge psychological area... there will be a lot of buyers there...

Of course...

I could be wroooooong....
I am going to use the A-H exit strategy in order to enter. Let me know if you think this doesn't make sense.
I will be placing a trailing stop buy at 50 pips soon (hopefully below 1.4), in my mind this should be a good sign for a bounce.

Of course I could be totally wrong...
  • #1,082
  • Oct 8, 2007 1:59pm Oct 8, 2007 1:59pm
Quoting Mr Trend
I'm a buyer at 4000. Don't know why you guys are all so keen on buying in the 3800s... my analysis shows Fib confluence right at 4010... based on 4H... depends on where you plot it I suppose and of course, each broker is different.

From what I've seen, when you are in a strong trend, price doesn't fall back to 50% on dailys that often. It's usually a 4H 50% thing... besides... 4000 is a huge psychological area... there will be a lot of buyers there...

Of course...

I could be wroooooong....
On the fundamental side of the story, EU financial ministers are together in a G7 summit starting Oct 7th and early statements (from them) have it they are going to address the current euro-dollar situation.

G7 meetings usually inspire preemtive moves in the market no matter if (and how) they are going to address the issue.

Another key event for euro is Fed's rate statement but this is taking place 3 weeks from now.

The two together cap the euro's upside - IN WHAT CONCERN the placement of new highs.

We have to see how the market is going to price in the rate statement. So far, bets on another cut have fallen.
  • #1,083
  • Edited 5:48pm Oct 8, 2007 4:22pm | Edited 5:48pm
Quoting Mr Trend
I'm a buyer at 4000. Don't know why you guys are all so keen on buying in the 3800s... my analysis shows Fib confluence right at 4010... based on 4H... depends on where you plot it I suppose and of course, each broker is different.

From what I've seen, when you are in a strong trend, price doesn't fall back to 50% on dailys that often. It's usually a 4H 50% thing... besides... 4000 is a huge psychological area... there will be a lot of buyers there...

Of course...

I could be wroooooong....
I'm pretty much agree with mr. Trend and vote to go short from 1.4000, I beleive it's a strong level and 50% between 3550 and 4285, but 3950 is possible too.
  • #1,084
  • Oct 8, 2007 6:14pm Oct 8, 2007 6:14pm
looks like he might have misunderstood
  • #1,085
  • Oct 8, 2007 7:28pm Oct 8, 2007 7:28pm
Quoting alexfot
I'm pretty much agree with mr. Trend and vote to go short from 1.4000, I beleive it's a strong level and 50% between 3550 and 4285, but 3950 is possible too.
Sorry, I meant long not short.
  • #1,086
  • Oct 8, 2007 10:31pm Oct 8, 2007 10:31pm
Quoting alexfot
Sorry, I meant long not short.
Jacko, I can not thank you enough for pointing out the entry signal. I did get other confirmation (+ the gut feeling hehe)

I'm still not convinced 1.4000 will be the place to buy back... of course I could be totally wrong...

I am still manually trailing my stops from 1.41479, stop loss is already over 100 pips below my entry point.

I unloaded half of my position @ 1.4044 and re-shorted it @ 1.4055.

Targeting unloading half of my position @ 1.3960, the other half @ 1.3875 (if we ever get there)

The amazing part is that I think a trailing stop of even 35 would have survived this downtrend, it was that steep...
  • #1,087
  • Oct 9, 2007 9:27am Oct 9, 2007 9:27am
Do you guys think that FOMC Meeting Minutes could be the turn point ???
  • #1,088
  • Oct 9, 2007 10:09am Oct 9, 2007 10:09am
I'm long at 4100 sl 4050 trailstop 50 pips
  • #1,089
  • Oct 9, 2007 8:55pm Oct 9, 2007 8:55pm
Quoting skyline
I'm long at 4100 sl 4050 trailstop 50 pips
I got on the other end of that deal.
  • #1,090
  • Oct 9, 2007 10:38pm Oct 9, 2007 10:38pm
I longed at 1.4040 (1.4017 was the lowest). Using trailing stops 50 pips. Currently at 1.4113.

I'm thinking that Fiber will go south once it hit level 1.4150-ish. Down to 3800-3900 by next week. Let's buy cheap!!!

As usual, I could be wrrrrooooong
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  • #1,091
  • Oct 10, 2007 7:30am Oct 10, 2007 7:30am
me 2, im long from 1.4100. 2 lots. the momentum seems strong, so lets see how it turns out.
We leave no soldier behind.
  • #1,092
  • Oct 10, 2007 9:26am Oct 10, 2007 9:26am
Quoting luqmanz
I longed at 1.4040 (1.4017 was the lowest). Using trailing stops 50 pips. Currently at 1.4113.

I'm thinking that Fiber will go south once it hit level 1.4150-ish. Down to 3800-3900 by next week. Let's buy cheap!!!

As usual, I could be wrrrrooooong
nothing personal lug...

...but why don't you guys start your own journals (called x-man journal using Jacko's method or something) and leave this thread as clean as possible...
If I were Jacko, I would've locked this thread already...


p.s. Scott, is it possible for you mods, to move it to where all the other 1kt threads are?
  • #1,093
  • Edited 10:20am Oct 10, 2007 10:05am | Edited 10:20am
Quoting raczekfx
nothing personal lug...

...but why don't you guys start your own journals (called x-man journal using Jacko's method or something) and leave this thread as clean as possible...
If I were Jacko, I would've locked this thread already...


p.s. Scott, is it possible for you mods, to move it to where all the other 1kt threads are?
It is possible, but Jakco would have to agree.

But I will not move it. It would have to be Jacko himself to do it. It is his Journal

Everyone could still read it fine. Only 1kt members could post though and I am not sure that is what jacko wants
  • #1,094
  • Oct 10, 2007 2:05pm Oct 10, 2007 2:05pm
Quoting sameer666
hi guys

leaving all the rubbish at the door and moving with the original intend of the thread which is solid as the system in itself. The question that comes to my mind and i hope may be any of you's can answer better than i can at the moment is how to define between a retracement or reversal. is it breaking of trendlines on daily. pivot point or fib in the view of a trend.

thanks
.
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  • #1,095
  • Oct 10, 2007 4:24pm Oct 10, 2007 4:24pm
Jacko and all,

I have humbly started a new thread in the 'Trading Systems' area.

http://www.forexfactory.com/showthread.php?p=1638300#post1638300

Maybe we can use this for our discussions, charts etc.

Jacko, if you are not happy with this let me know and I will have the thread closed.

Thanks,

Neil.
  • #1,096
  • Oct 10, 2007 9:56pm Oct 10, 2007 9:56pm
Quoting jacko
Market now at 1.4060

He is now closing in on 250 pips per contract. (3 wins from 3 trades, with short/counter-trend position still open)

Not bad for 3 days trading.

Our new idea is working well.

.
Newt did VERY well out of this trade.

He is now 3 for 3. He is in excess of 250 pips per contract for those three (counter-trend) trades.

I have seen the argumentative posts above and we have been having a discussion about how best to help other serious traders.

We will be starting a new thread in the next couple of days.

We are still ironing out a few issues between ourselves (Mark, Newton and myself) about how best to help.


.
  • #1,097
  • Oct 10, 2007 10:39pm Oct 10, 2007 10:39pm
Quoting jacko
Newt did VERY well out of this trade.

He is now 3 for 3. He is in excess of 250 pips per contract for those three (counter-trend) trades.

I have seen the argumentative posts above and we have been having a discussion about how best to help other serious traders.

We will be starting a new thread in the next couple of days.

We are still ironing out a few issues between ourselves (Mark, Newton and myself) about how best to help.


.

Looking foward to the new thread and espically the counter-trend strategy
  • #1,098
  • Oct 10, 2007 10:46pm Oct 10, 2007 10:46pm
So how's everyone making money ?
Anyone long at 4020-ish should have been able to lock at around 80 pips of profit at least.

Uber leet jacko technique.
  • #1,099
  • Oct 10, 2007 11:09pm Oct 10, 2007 11:09pm
Quoting jacko
I have seen the argumentative posts above and we have been having a discussion about how best to help other serious traders.

We will be starting a new thread in the next couple of days.

.

Good, Mr. Jacko.
  • #1,100
  • Oct 11, 2007 1:14am Oct 11, 2007 1:14am
Hey Jacko,

I read in another thread that you trade over 3 accounts. Do you still do that? I was kinda wondering why?

Thanks,
Gary
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