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Jacko's P&P Trend Trading Method

  • #41
  • Oct 16, 2007 2:32pm Oct 16, 2007 2:32pm
Quoting raczekfx
I’m sure you’re a nice guy and apologies if my pm offended you. Let’s move on and make some real pips.

p.s. I’m not sure if I ever wanted to visit Romania again .
Last time, I was traveling through it on business in 1987, got a heavy brick come through our windshield. No one was injured, but a guy couple cars behind us ended up with a brick on his chest…..that scenario repeated 3 more times until we finally reached the border.. You guys liked to play dangerous games back then…
man, this is a creepy story. I assume those were kids throwing rocks at cars? Damn...never heard such a thing. But I can assure you now Romania is a very normal and civilized country.

Back to FX, I am in counter trend trades for AU(short) and Usd Cad(long) as well. Traded these using Fozzy crosses on 4 H. Using Jacko's idea, I assume there should be a good short for USD CAD at 0.9800 which is 50% of the last move down. The pair formed 2 Dojis at this level, which should have signaled a resuming of the downtrend, but the price seems still bullish and no Fozzy bearish cross yet. I will look to enter short as soon as I get confirmation from Fozzy. 0.9800 - round nr, 50 % retracement - seems like the perfect scenario.

For Aud Usd, I dont have a scenario for going long yet, so I will stick with my shorts.

About the EU, if the support holds and I get a bullish fozzy cross on 4H, I will buy at 1.4200 tomorrow in London.

P.S. If you guys think that talking about Fozzy, Usd Cad and Aud Usd here has no relevance to this thread, let me know and I will concentrate only on Euro using Jacko technique.
We leave no soldier behind.
  • #42
  • Oct 16, 2007 2:45pm Oct 16, 2007 2:45pm
To be frank, I don't see how taking fozzy crosses against the main trend has anything to do with Jacko's method.
  • #43
  • Oct 16, 2007 7:21pm Oct 16, 2007 7:21pm
Quoting libertao
To be frank, I don't see how taking fozzy crosses against the main trend has anything to do with Jacko's method.
I sold Usd Cad at 0.9800 and bought the Euro at 1.4180. 50 trailing stop. If I am wrong, the AH strategy will help me recover my losses.
We leave no soldier behind.
  • #44
  • Oct 16, 2007 9:32pm Oct 16, 2007 9:32pm
i am kind of hesitant to place any jacko trades right now... worst TIC report in 9 years, and barely made any negative impact on the dollar? i think the big money is pushing the $ up for the moment.
  • #45
  • Oct 16, 2007 10:20pm Oct 16, 2007 10:20pm
Quoting trevwest
i am kind of hesitant to place any jacko trades right now... worst TIC report in 9 years, and barely made any negative impact on the dollar? i think the big money is pushing the $ up for the moment.
My thoughts exactly...
  • #46
  • Oct 17, 2007 8:36am Oct 17, 2007 8:36am
Quoting gagiul
I sold Usd Cad at 0.9800 and bought the Euro at 1.4180. 50 trailing stop. If I am wrong, the AH strategy will help me recover my losses.
it seems i just got lucky and both pairs moved in the right direction, so both stops are at BE now.
We leave no soldier behind.
  • #47
  • Oct 18, 2007 4:35am Oct 18, 2007 4:35am
Quoting gagiul
it seems i just got lucky and both pairs moved in the right direction, so both stops are at BE now.
the euro went down against me 1 pip above my stop at 1.4180. Damn I was lucky. I suppose in these situations it all depends on the broker quotations.

Now my stop for EU is moved at 1.4210 and Usd Cad at 0.9780.

Do you guys mind to share your positions just for the sake of learning?
We leave no soldier behind.
  • #48
  • Oct 18, 2007 8:37am Oct 18, 2007 8:37am
Quoting gagiul
the euro went down against me 1 pip above my stop at 1.4180. Damn I was lucky. I suppose in these situations it all depends on the broker quotations.

Now my stop for EU is moved at 1.4210 and Usd Cad at 0.9780.

Do you guys mind to share your positions just for the sake of learning?
Hi,
I only use strictly Jacko and James16 PA on this pair - no Fozzie. Was undecided whilst it was in the range, especially after reading Jacko on Newbie's shorts and that he thought 1.40 was a good buying point from below.

So have only entered on the break - 1.4250 ( nearest 'round number' above the recent highs in range). Like you, I'm using a trailing 50pip SL so its currently at 1.4261 .

Ian
  • #49
  • Oct 18, 2007 9:28am Oct 18, 2007 9:28am
anyone tried this method on eur/chf ?

maybe even going short on pairs that has a sustained downtrend ?
  • #50
  • Oct 18, 2007 9:21pm Oct 18, 2007 9:21pm
Quoting findcount
anyone tried this method on eur/chf ?

maybe even going short on pairs that has a sustained downtrend ?
as you can see in my previous posts, I try this method on 3 pairs - Eur Usd, Aud Usd and Usd Cad. For 2 important reasons: 1. they all trend very strongly. 2. The daily range is aprox. 80 - 100 pips for each, so a stop of 50 pips works well for them.

Currently my trailing stop for EU is at 1.4259 so I have locked 79+ pips. For Usd Cad I just got kicked out at 0.9768 where my stop was trailed, so got out with only 32+ pips.

For Aud Usd I am looking to buy if it goes above 0.8950 and stays there. However, today might be a crazy market, so better stay out.
We leave no soldier behind.
  • #51
  • Oct 18, 2007 10:49pm Oct 18, 2007 10:49pm
many thanks......just glad to know more pairs can be traded as waiting for the eur/usd to complete retracement will reduce trading opportunities greatly.

i don't really have the guts to trade against the main trend anymore after several losses. just like i don't dare to go short even when carry trade unwinds........

the A-H strategy certainly helps on the psychological side of things........
  • #52
  • Oct 19, 2007 5:27am Oct 19, 2007 5:27am
Quoting findcount
many thanks......just glad to know more pairs can be traded as waiting for the eur/usd to complete retracement will reduce trading opportunities greatly.

i don't really have the guts to trade against the main trend anymore after several losses. just like i don't dare to go short even when carry trade unwinds........

the A-H strategy certainly helps on the psychological side of things........
you are correct.

My EU long got stopped out at 1.4168 for + 88 pips. I suppose I got stopped early, before another rally.
We leave no soldier behind.
  • #53
  • Oct 19, 2007 5:51am Oct 19, 2007 5:51am
Quoting gagiul
you are correct.

My EU long got stopped out at 1.4168 for + 88 pips. I suppose I got stopped early, before another rally.
very good result considering the trailstop of 50 pips, i always thought any profits will be less than 50 pips since the trailstop is already 50 pips.....
  • #54
  • Oct 19, 2007 10:30am Oct 19, 2007 10:30am
Quoting findcount
very good result considering the trailstop of 50 pips, i always thought any profits will be less than 50 pips since the trailstop is already 50 pips.....
Hi Findcount,
The whole idea of only picking very trending pairs and only trading with the trend is so that profits can be much larger than the 50 pips (or whatever) used fro the trailing stop.
I have had several wins of over 100 pips and all the (single) losses are 50pips or less. Though i have been unlucky and had a 50 pip loss and then it resurected via AH only to post another loss (though not for the full 50 pips).

Ian
  • #55
  • Oct 20, 2007 5:01am Oct 20, 2007 5:01am
good to hear of good wins..........i missed it when i thought of entering a buy of eur/usd at 1.4050 but i forgot about placing the limit order !!!

now, waiting for the retracement.
  • #56
  • Oct 22, 2007 6:33am Oct 22, 2007 6:33am
wow, this morning has seen huge drops in most of the pairs. Although I profited from these easy drops like anybody else, I am looking forward to normal trading conditions again.

Euro is close to the 4150 support. I am looking to see how it will behave in this area and if there will be any buying opportunities. Under 4150 its heavily bearish.

Also 4180 is the 50% Fib level of the last major up move from 4013 to 4347. According to Jacko, it should be a good buying zone.

What do you guys think?
We leave no soldier behind.
  • #57
  • Oct 24, 2007 12:15pm Oct 24, 2007 12:15pm
Quoting gagiul
wow, this morning has seen huge drops in most of the pairs. Although I profited from these easy drops like anybody else, I am looking forward to normal trading conditions again.

Euro is close to the 4150 support. I am looking to see how it will behave in this area and if there will be any buying opportunities. Under 4150 its heavily bearish.

Also 4180 is the 50% Fib level of the last major up move from 4013 to 4347. According to Jacko, it should be a good buying zone.

What do you guys think?
Gagiul,

Looks like it was a good shout. Did you take the trade?

Neil.
  • #58
  • Oct 24, 2007 5:10pm Oct 24, 2007 5:10pm
I bought on the drop and took my pips from the TS. I am not looking to go long now as it looks ranging to me, possibly setting up for another drop or run. I will wait until a direction develops.
  • #59
  • Oct 24, 2007 11:47pm Oct 24, 2007 11:47pm
Just wanted to post so as to receive notification on my email- have been following the thread and ready to take my Jacko trades live
Daniel
  • #60
  • Oct 29, 2007 1:45pm Oct 29, 2007 1:45pm
Quoting Neilg36
Gagiul,

Looks like it was a good shout. Did you take the trade?

Neil.
Yeah, Im the lucky owner of 3 positions in EU. I entered long at 4180 then at 4230 and 4280 - 50 pips increment positions. Now I got stopped at 4388 (50 pips trailing) on the last dip - of course I was stopped out early so I am seriously considering widening trailing stops to maybe 70 pips....

Accumulated a total of 208+158+108 = 474 pips. What can I say... Thank You Jacko !!!

Note: I did this by watching the 4H instead of Daily chart, I believe it is more reliable for entry decision.
We leave no soldier behind.
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