OK, so this is really the first time I have "went out on a limb" and discussed my trading plans with other people and had them critique it/them. I have to admit I was a bit nervous. And especially when I saw that Seekinglight had posted a response. I have been a lurker around FF for a year and a half, and I have enjoyed his (your) stuff, especially in the PF (James 16). I must say that, I do not trade Jacko's approach for EUR/USD exclusively, but I found it intriguing and wanted to learn more about it, so I am demoing it with a small account.
There are, of course, many assumptions that every trading method uses. I think understanding those assumptions are especially important with this method because it has such subjective entry techniques. I believe that the basic assumptions of Jacko's method, if taken seriously, may give this approach an edge over time while within a longer term trend.
I did mention that my risk was slightly under 9% in my first post. I shouldn't have phrased it that way in the second one, I didn't mean to make it sound like it actually reduced my capital R risk.
Also, I find scaling in to be difficult with this approach unless you are doing it on quite small time frames. If want to say add more on a dip, most likely you will be taken out by the TSL and it will be an entirely new trade instead of adding to the existing trade.
Hope this makes sense. And thanks for responding. I could get used to talking about trading! Feels good! haha
There are, of course, many assumptions that every trading method uses. I think understanding those assumptions are especially important with this method because it has such subjective entry techniques. I believe that the basic assumptions of Jacko's method, if taken seriously, may give this approach an edge over time while within a longer term trend.
I did mention that my risk was slightly under 9% in my first post. I shouldn't have phrased it that way in the second one, I didn't mean to make it sound like it actually reduced my capital R risk.
Also, I find scaling in to be difficult with this approach unless you are doing it on quite small time frames. If want to say add more on a dip, most likely you will be taken out by the TSL and it will be an entirely new trade instead of adding to the existing trade.
Hope this makes sense. And thanks for responding. I could get used to talking about trading! Feels good! haha