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Jacko's P&P Trend Trading Method

  • #61
  • Oct 29, 2007 6:16pm Oct 29, 2007 6:16pm
Hello

About stop-loss I am placing them at the low of the daily bars, instead of 50 pips, which is normally around 100 pips. I adjusted my leverage and I am getting stopped out a lot less.

Not intending to hickjack Jakco's rules by any chance, I am following the same strategy. Just my two cents

cheers
  • #62
  • Oct 30, 2007 7:53am Oct 30, 2007 7:53am
Quoting gagiul
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.
helloooo..........need some advice from a veteran of Jacko's method..... (worthy)............

i bought eur/chf @1.6750 and it went to 1.6808 before i was stopped out at 1.6758....................so am i doing it right as i manually move my SL upwards as the price move up and i kept a 50 pip gap between the price and my SL.

if i'm doing right then anything i can/should do to retain more of the profit ? it's a great shame to miss out 50pips out of 58 pips...........
  • #63
  • Oct 30, 2007 10:23am Oct 30, 2007 10:23am
Quoting findcount
helloooo..........need some advice from a veteran of Jacko's method..... (worthy)............

i bought eur/chf @1.6750 and it went to 1.6808 before i was stopped out at 1.6758....................so am i doing it right as i manually move my SL upwards as the price move up and i kept a 50 pip gap between the price and my SL.

if i'm doing right then anything i can/should do to retain more of the profit ? it's a great shame to miss out 50pips out of 58 pips...........
i had the same problem with the eur usd, being stopped out too early. Im considering using a stop size of maybe 70% of the daily ATR. For example, for EUr usd, that should be around 70 pips. In my backtesting, it seems that 70 pips trailing stop for eur usd works much better than 50, in the sense that it keeps you in the trade longer and it allows you to go with the flow. I believe 50 is too tight for the time being, because the volatility increased recently.
We leave no soldier behind.
  • #64
  • Oct 31, 2007 6:44am Oct 31, 2007 6:44am
Quoting gagiul
i had the same problem with the eur usd, being stopped out too early. Im considering using a stop size of maybe 70% of the daily ATR. For example, for EUr usd, that should be around 70 pips. In my backtesting, it seems that 70 pips trailing stop for eur usd works much better than 50, in the sense that it keeps you in the trade longer and it allows you to go with the flow. I believe 50 is too tight for the time being, because the volatility increased recently.
so i was doing things right as described in my previous post ?

70 pips.......wouldn't it be the same problem as 50 pips in terms of giving back too much of the profits ? you could be up say 80 pips and then in the end profit only 10 pip ?

i'm thinking of maybe when the profit go to 50 pips i'll tighten the trailstop to grab more profit on the 1st trade and if stopped out then re-enter with the usual 50 pip trailstop.....what do you think ?

70 pips................i feel lousy enough to give back so much on 50 pip..........but then again, what can we do ?
  • #65
  • Oct 31, 2007 7:03am Oct 31, 2007 7:03am
Quoting findcount
so i was doing things right as described in my previous post ?

70 pips.......wouldn't it be the same problem as 50 pips in terms of giving back too much of the profits ? you could be up say 80 pips and then in the end profit only 10 pip ?

i'm thinking of maybe when the profit go to 50 pips i'll tighten the trailstop to grab more profit on the 1st trade and if stopped out then re-enter with the usual 50 pip trailstop.....what do you think ?

70 pips................i feel lousy enough to give back so much on 50 pip..........but then again, what can we do ?
Hi findcount,
I hdon't trade eur/chf and neither does Jacko, but I just checked the dail ATR for the last 30 days and a 45 to 50 pips Sl would match with Jacko's method - though whether eur/chf is trendy enough etc is a different question.
The bottom line is that if you are trading correctly according to a method. But it hurts you too much ( even on your winners) - then you need to either adjust your attitude ( can be very difficult, but read SoulTraders thread in the 1KT - I asked about not feeling good about handing back 200 to 400 pips). Or else you find yourself a different mthod - or adapt the one you are are using so as to reduce the pain!

It really is that simple, there are hundreds of differnt methods out there and many of them are winners (for the right type of personality etc.). What does not exist is a universal winning system that everybody can use and like - one man's meat is another man's poison.

I hope this helps a little,
Ian
  • #66
  • Oct 31, 2007 7:45am Oct 31, 2007 7:45am
Does anyone trade this with Interactive Brokers by any chance? I have been practicing with programs like MT4 and Oanda where everything has been pretty straightforward, but now with IB, I can't seem to work out how to place a simple order with a trailing stop. Am I supposed to use separate buy and sell orders?
  • #67
  • Oct 31, 2007 9:47am Oct 31, 2007 9:47am
Quoting libertao
Does anyone trade this with Interactive Brokers by any chance? I have been practicing with programs like MT4 and Oanda where everything has been pretty straightforward, but now with IB, I can't seem to work out how to place a simple order with a trailing stop. Am I supposed to use separate buy and sell orders?
Hi,
I have IB as well, and what you have to do is attach a trailing stop to the original order. So that is right click on the order, and attach. If anyone knows of a simpler way tell me about it too. LOL...I have to say I find IB very complex...ah also you can go to page one and go to previously recorded webinars and watch a TWS order webinar...it takes about a year but saves some time if you are trying to learn the basics on IB. Hope this helps, Raz
ah and I would suggest you open a paper trading account ie not a demo, because the paper trading acct mirrors your real acct and uses real time data while the demo acct uses age old data...then you can practice and get yourself organised before using your real account, thats what Ive been doing. At the rate Im going I wont get to use the real account until Im about 95 (yes, Im a techie retard)
Never say never.
  • #68
  • Oct 31, 2007 3:10pm Oct 31, 2007 3:10pm
Thank you for the detailed response razldazl, that worked perfect
  • #69
  • Nov 1, 2007 3:18am Nov 1, 2007 3:18am
Quoting findcount

i bought eur/chf @1.6750 and it went to 1.6808 before i was stopped out at 1.6758....................so am i doing it right as i manually move my SL upwards as the price move up and i kept a 50 pip gap between the price and my SL.

if i'm doing right then anything i can/should do to retain more of the profit ? it's a great shame to miss out 50pips out of 58 pips...........

errr......so is this the correct way according to the Jacko method ?
  • #70
  • Nov 1, 2007 10:02am Nov 1, 2007 10:02am
Quoting findcount
errr......so is this the correct way according to the Jacko method ?
Findcount,

Yes..I believe this is Jackos' 'Line in the sand'.

Neil.
  • #71
  • Nov 2, 2007 7:49am Nov 2, 2007 7:49am
This week wasn't best for AH strategy :-( My SL was triggered twice and then price got back up to 1.45.
  • #72
  • Nov 6, 2007 3:06am Nov 6, 2007 3:06am
i went long on eur/chf at 1.6700 and was stopped out at 1.6650 !

so let's say the price didn't move down much more, just 10-20 pips to 1.6640 or 1.6630 then do i still put on the A-H method as Jacko says to put on A-H if it goes past SL by 50 pips.....

current price is now above 1.6650 so good idea to put on a buy limit order at 1.6700 ?
  • #73
  • Nov 8, 2007 10:29am Nov 8, 2007 10:29am
Quoting findcount
i went long on eur/chf at 1.6700 and was stopped out at 1.6650 !

so let's say the price didn't move down much more, just 10-20 pips to 1.6640 or 1.6630 then do i still put on the A-H method as Jacko says to put on A-H if it goes past SL by 50 pips.....

current price is now above 1.6650 so good idea to put on a buy limit order at 1.6700 ?
Hi Findcount,
I hope you didn't get in again at 1.6700.
The eurchf is now below 1.6600 so it would now be safe to use the AH on your trade stopped out at 1.6650.
Jacko does not trade eurchf, and neither is he specific at where to enter a trend - except that he does like pullbacks
but will enter on a new high round number also if he feels confident.
However he is very specific about the AH, which he considers to be the most important feature of his trading.
No ifs or buts, following his method you can only place an AH order when the price has moved >= 50 pips through your Stop Loss. That is because it is only after a rebound of that size (>=50pips) does he feel that the trend should continue for at least another 50pips. Of course this does not always go according to the script, but he considers that probability is then on your side.

Also, in case you were in doubt, AH is only used on losing trades - i.e. not as a means to resume a profitable trade stopped out on the trailing 50pip stop loss.

I hope this helps,
Ian
  • #74
  • Last Post: Nov 9, 2007 7:01am Nov 9, 2007 7:01am
ian, thanks a lot.......no chance for me to enter at 1.6700 anyway.....!

i've set the order at 1.6650 as per the A-H method..........

i think i might enter a separate new buy order below that when eur/chf starts to go back up and treat it as a new trade. i got to admit a little greedy there........
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