DislikedBabeFX, you are very kind, but no, it does not help. How can you study an entry that will have a 50 pip trailing stop loss on a weekly chart? A weekly bar is of about 300 pips on average for EURUSD! You need to look at least to 1H TF if not smaller for a 50 pip trailing stop loss entry.
Sorry Bakuli, I really don't want to offend anyone, especially people like you that are kindly trying to help, but you are substantially saying: "if you wait patiently for a high probability set-up ...you should have a high probability entry". Well, that seems very obvious to me, but what is a "high probability set-up"?
You know, patient to wait for something is a great virtue if your are able to recognize what that something you are waiting for looks like, otherwise it's just a waste of time.
For the sake of God, and if not on entries on what would you stress in order to master Jacko's strategy?
Let's have a look together.
Jacko's strategy is basically this:
1) Trade EURUSD
So nothing to stress here, or not???
2) Determine long term trend for EURUSD
Should we stress on this? Jacko very well explained how to determine this long term trend. It's very easy, and in the end if you still didn't get it then, well, Jacko clearly said it for us all: HE IS LONG EURUSD!
Nothing to stress here.
3) Always use trailing stop losses of 50 pips.
Well this seems very easy to me to master. If you don't know how to set up a trailing stop, then this is a problem of knowledge of your trading platform, not surely a strategy issue!
So, again, nothing to stress here, just put on that trailing stop and you have done!
4) AH strategy. Well, as I saw months ago reading some posts of this thread some people got some time to understand the whole working of this part of the strategy, but in the end I would say that this is very clear and also easy. If you get stopped out you wait for the price to fall another 50 pips, then you place a buy stop order at the same price you were stopped out. That's it. Again, if you are not able to do this then this is a problem of knowledge of your trading platform, not surely a strategy issue! So, again, nothing to stress here too.
5) Sizing.
Nothing to stress here. Jacko has clearly said a lot about sizing. He is prudent, he never bet his house on any single trade, he does not trade under capitalized. On the other side he also said that when he get a big win he increases his exposure better compounding the earned money. Nothing extraordinary hard to master here, nothing to stress, and in the end if you are really more risk adverse than he, you simply bet a fixed ratio of your capital (say 1%-3%) and that's it.
And then there is the last point: ... TADA ...
6) ... ENTRIES!
Well, this is the only single part of Jacko's strategy that is totally discretionary. It is not a case that all the other parts of his strategy are so easy, clear, and simple (and even elegant and very well conceived, I would add) to implement that a successful EA for all of them has already been created and works very well, provided that the entries are made by a good trader! Otherwise, I can assure you, that EA loses a lot of money.
So, in the end, entries are the only part of Jacko's strategy hard to master, they are the only things we can stress!
Sorry Niner, you did not convince me.Ignored
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