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Jacko's Forex House of Pleasure and Pain

  • #1,101
  • Oct 11, 2007 3:24pm Oct 11, 2007 3:24pm
Quoting charlinks
I got on the other end of that deal.
Thx for your money eheheh
Now I'm +94 pips from my previous trade, so I decided to move s/l to 1.4150 to bank 50 pips and let it run. Then I placed another buy pending order at 1.4200 again with 50 pips stop and 50 trailing stop. We'll see if my idea will work fine

Skyline
  • #1,102
  • Edited 5:56pm Oct 11, 2007 5:29pm | Edited 5:56pm
Your idea may work... but it is time to start looking for signs of continued correction...

EUR/USD will likely fall again soon perhpas to the 62 ema on daily.... Right now maybe just a small spike before we go down...

Sorry jacko... it's just me again !!

Quoting skyline
Thx for your money eheheh
Now I'm +94 pips from my previous trade, so I decided to move s/l to 1.4150 to bank 50 pips and let it run. Then I placed another buy pending order at 1.4200 again with 50 pips stop and 50 trailing stop. We'll see if my idea will work fine

Skyline
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  • #1,103
  • Oct 11, 2007 6:59pm Oct 11, 2007 6:59pm
Quoting skyline
Thx for your money eheheh
Now I'm +94 pips from my previous trade, so I decided to move s/l to 1.4150 to bank 50 pips and let it run. Then I placed another buy pending order at 1.4200 again with 50 pips stop and 50 trailing stop. We'll see if my idea will work fine

Skyline
Ok, ok rub it in! Congratulations on your trade!

I did lose about 45 pips not +94 though. Still way in the positive combined with my other trades.

I believe it will go back to where I got stopped out though and re-enter!
  • #1,104
  • Oct 11, 2007 8:04pm Oct 11, 2007 8:04pm
wow jacko new thread that will be really something looking forward to. keep up the great work Sir jacko



cheers
  • #1,105
  • Oct 11, 2007 10:51pm Oct 11, 2007 10:51pm
Quoting Kayoubi
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
Alright! I finally finished going through the whole thread and it was a fantastic read. My question was answered too. The multiple accounts are for long term trades but that was a long time ago. Not sure if you still use them now.

Its great to know what you and mark have came up with something truly amazing again. About whether to share it with the public or not, Mark definitely has the right to decide. You've generously shared with us your AH method already and that is much more than any person could ask for.

The AH still works as long as nothing huge impacts the euro fundamentals (the china fund consequences still to be seen), so the pips are still a plenty the way it stands.

Keep up with the great post Jacko!

Gary
  • #1,106
  • Oct 12, 2007 12:03am Oct 12, 2007 12:03am
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.


.

Newt has just gone short again. at 1.4185.

Going for 4 from 4.

.
  • #1,107
  • Oct 12, 2007 12:08am Oct 12, 2007 12:08am
Price now is 1.4186, looks like a good retracement price, hehe. Scalp just BE as i'm typing. GL.
Still waters run deep
  • #1,108
  • Oct 12, 2007 4:28am Oct 12, 2007 4:28am
Quoting jacko
Newt has just gone short again. at 1.4185.

Going for 4 from 4.

.
I acknowledge Newt short.

I have a short @1.4195 going with 2 lots and will short again on 1.4210-20 levels is challenged again.

I am very bearish too is this false bullish market.

I believe the EU is going under bigger and bigger selling pressure and EU will crash down soon to under the 1.4 level so it can gather strength to get new highs.

If the bulls put their maximum energy they may only test briefly the new highs but will not have the power to break it.

Happy trading to all.

Hani
  • #1,109
  • Oct 12, 2007 4:51am Oct 12, 2007 4:51am
Quoting luqmanz
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.
I have also long at 1.4025 and make 280 pips return and I am already out the market.

Good post mate!

  • #1,110
  • Oct 12, 2007 4:54am Oct 12, 2007 4:54am
Quoting haniam
I acknowledge Newt short.

I have a short @1.4195 going with 2 lots and will short again on 1.4210-20 levels is challenged again.

I am very bearish too is this false bullish market.

I believe the EU is going under bigger and bigger selling pressure and EU will crash down soon to under the 1.4 level so it can gather strength to get new highs.

If the bulls put their maximum energy they may only test briefly the new highs but will not have the power to break it.

Happy trading to all.

Hani
Short??

I though the trend is your friend ??
Trend Traders? Where is Mr. Trend?

hmmmm....

  • #1,111
  • Oct 12, 2007 6:28am Oct 12, 2007 6:28am
Quoting jacko
Newt has just gone short again. at 1.4185.

Going for 4 from 4.

.
That's odd, the other entries all felt a lot "earlier" into the new moves...

I just wanted to ask if I may whether the same 50 pip TS is used or whether the stop is sized differently altogether.

If this is part of the secret then that's okay, too, I just was curious =))
Trust price. Know yourself.
  • #1,112
  • Oct 12, 2007 10:50am Oct 12, 2007 10:50am
Quoting jacko
Newt has just gone short again. at 1.4185.

Going for 4 from 4.

.
Wow... I got short from 1.4225 as well.

I read two articles in Forbes claiming that EURUSD will fall to 1.30 contrary to people's expectations... Of course everyone is entitled to an opinion but the guy had some solid points.
  • #1,113
  • Oct 12, 2007 12:53pm Oct 12, 2007 12:53pm
Quoting charlinks
Wow... I got short from 1.4225 as well.

I read two articles in Forbes claiming that EURUSD will fall to 1.30 contrary to people's expectations... Of course everyone is entitled to an opinion but the guy had some solid points.
I couldn't locate the articles you wrote about, however if events unfold the way I expect them to, the next few weeks will be catastrophic for the USD. We will see huge price movements, the magnitude of which has not been observed since 1997/98.
  • #1,114
  • Oct 12, 2007 1:33pm Oct 12, 2007 1:33pm
Quoting dunningduke
I couldn't locate the articles you wrote about, however if events unfold the way I expect them to, the next few weeks will be catastrophic for the USD. We will see huge price movements, the magnitude of which has not been observed since 1997/98.
That is very interesting! I'd be curious to hear what events in particular are you anticipating to affect this? Oil? Debt? Interest Rates? China converting the $800 bil into EUR?

The article says that it is just a recession it would eventually recover and go to 1.30. But I agree that if a catastrophy occured... then everyone would abandon the USD and cut it out of the global markets. (We are already seeing signs of that with the oil selling to EUR)

If something catastrophic happened, I wonder if our forex brokers will still be able to pay us back?

May be I should look into converting USD to real EUR in a european bank, as opposed to contracts that may just bankrupt my broker.
  • #1,115
  • Oct 12, 2007 2:40pm Oct 12, 2007 2:40pm
Quoting charlinks
That is very interesting! I'd be curious to hear what events in particular are you anticipating to affect this? Oil? Debt? Interest Rates? China converting the $800 bil into EUR?

The article says that it is just a recession it would eventually recover and go to 1.30. But I agree that if a catastrophy occured... then everyone would abandon the USD and cut it out of the global markets. (We are already seeing signs of that with the oil selling to EUR)

If something catastrophic happened, I wonder if our forex brokers will still be able to pay us back?

May be I should look into converting USD to real EUR in a european bank, as opposed to contracts that may just bankrupt my broker.
You named a few...Also, if you think we're out of the ARM issues, think again. There is a massive wave of reserve diversification away from USD that will culminate with the gulf states abandoning their peg to the USD...with alltime high (>=10% inflation in some of those states and lower interest rates in the US, they can't possibly continue with the current peg.) inflation rates, they will have to dump their dollars or at least abandon the peg starting with Saudi arabia... and a myriad of other reasons. Let's not even mention what the new bank nagara is doing now.
I gotta go. I am pressed for time. I'll write a more coherent message later on in the evening.
Mr. Jacko, I hope I am not hijacking your thread?
  • #1,116
  • Oct 12, 2007 6:13pm Oct 12, 2007 6:13pm
Quoting dunningduke
I couldn't locate the articles you wrote about, however if events unfold the way I expect them to, the next few weeks will be catastrophic for the USD. We will see huge price movements, the magnitude of which has not been observed since 1997/98.
hhhmmm really? Oohhh.

It´s looks like some people here still trade with their own emotions.
Its not a bad system, but ok. Everyone has their own system.

  • #1,117
  • Oct 12, 2007 6:43pm Oct 12, 2007 6:43pm
This is probably the part where someone needs to repeat the "trade what you see(or what the 6 year old you kidnapped from kindergarten to aid you in your sick and twisted trading endeavor sees), not what you think" and "the trend is your friend until it ends (and you better be pretty SURE it ends else you blow your account trying to go against a trend, my friend)" or similiar.

Someone please do that now, I'm already in bed.

Theorizing and musing is nice, but trading is what happens while forbes/cnbc/bloomberg and all those yokels are making other plans.(is it just me or did the biggest and loudest clamoring on those noise generators for 1.45 occur just before the 1.43 -> 1.40 drop? maybe just my mind playing tricks on me)

Write a nice article and I'll go mh, yea, well, sounds nice, pass the coffee; break the last of all long term mucho importante trendlines and I might just sit up. ;p
Trust price. Know yourself.
  • #1,118
  • Oct 12, 2007 7:30pm Oct 12, 2007 7:30pm
you mean my tag line.....
Same Whore .... Different Dress
  • #1,119
  • Oct 12, 2007 8:51pm Oct 12, 2007 8:51pm
Quoting jacko
Newt has just gone short again. at 1.4185.

Going for 4 from 4.

.

Newt has got his 4 for 4.

Out at 1.4170 towards the close.


.
  • #1,120
  • Oct 12, 2007 10:40pm Oct 12, 2007 10:40pm
Quoting SeekingLight
This is probably the part where someone needs to repeat the "trade what you see(or what the 6 year old you kidnapped from kindergarten to aid you in your sick and twisted trading endeavor sees), not what you think" and "the trend is your friend until it ends (and you better be pretty SURE it ends else you blow your account trying to go against a trend, my friend)" or similiar.

Someone please do that now, I'm already in bed.

Theorizing and musing is nice, but trading is what happens while forbes/cnbc/bloomberg and all those yokels are making other plans.(is it just me or did the biggest and loudest clamoring on those noise generators for 1.45 occur just before the 1.43 -> 1.40 drop? maybe just my mind playing tricks on me)

Write a nice article and I'll go mh, yea, well, sounds nice, pass the coffee; break the last of all long term mucho importante trendlines and I might just sit up. ;p
You trade what you see. I agree. Unless you understand why you are in a trade, why events are developing the way they are, you should be out.
In trading, one has to try to see beyond the little box they're in. (I won't write "you" in my sentence.)
Markets trend for diverse reasons. It's usually healthy to understand why they are doing what they do.
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