did the euro fell on trade balance numbers or fed liquidity injections?
Jacko's Forex House of Pleasure and Pain
- #1,804
- Mar 11, 2008 3:51pm Mar 11, 2008 3:51pm
interesting article. Made 40 pips in last move after setting SL before going to bed (live in Australia).
Just my 2 cents and I don't know much about forex fundamentals however if the Fed intervention doesn't assit in pushing the E/U significantly further down then it shows the dollar is in real emergency surgery need and will continue strongly with the uptrend after this consolidation.
Please don't take this as advice, I live around kangaroos and idiots that wrestle crocodiles......
K8
Just my 2 cents and I don't know much about forex fundamentals however if the Fed intervention doesn't assit in pushing the E/U significantly further down then it shows the dollar is in real emergency surgery need and will continue strongly with the uptrend after this consolidation.
Please don't take this as advice, I live around kangaroos and idiots that wrestle crocodiles......
K8
- #1,809
- Mar 12, 2008 6:08am Mar 12, 2008 6:08am
- Joined Feb 2006 | Status: Trader | 2,228 Posts
I have now locked in some nice gains from the 5412 level, but do have a tp limit in place. Hope everyone got onboard on this move as it COULD exceed the 5500 level this time. I COULD be wrong.
As I have said on previous post, I really think this is a GREAT METHOD that JACKO has put forth for everyone. I have never met JACKO, but I will say I have never met another trader in all my over 20 yrs of trading that was willing to share what JACKO has shared here. I trained over 10 yrs ago with a trader who now manages a small fund, but I got nothing near what JACKO has laid out with his METHOD. I am almost sorry I didn't join JACKO'S GROUP,
but believe me I am doing well following what was shared in just the first 10 pages of this thread. What more could you ask for? OH, I forgot.....those
lagging indicators. Just kidding.
Over the last several days I have posted my views & comments which for the most part is unusual for me, but I just feel so strong about the OPPORTUNITY this METHOD offers that I just had to share. NO MATTER how simple this or any METHOD MIGHT BE, some will never give it a try & a percentage of those that do will not succeed & it will be no fault of the method because what works for one will not work for another. Some will NEVER follow the RULES.
I don't want it to seem that I have taken over the thread, so I will for the most part try & limit my comments, but will response to those that have a question that I might be of help with. I for sure do not have all the answers,
but I have a clear understanding of THE JACKO"S METHOD & IT WORKS.
"The Holy Grail Is Not The Method Traded, But The Trader"
________________________________________________
AceTrader
As I have said on previous post, I really think this is a GREAT METHOD that JACKO has put forth for everyone. I have never met JACKO, but I will say I have never met another trader in all my over 20 yrs of trading that was willing to share what JACKO has shared here. I trained over 10 yrs ago with a trader who now manages a small fund, but I got nothing near what JACKO has laid out with his METHOD. I am almost sorry I didn't join JACKO'S GROUP,
but believe me I am doing well following what was shared in just the first 10 pages of this thread. What more could you ask for? OH, I forgot.....those
lagging indicators. Just kidding.
Over the last several days I have posted my views & comments which for the most part is unusual for me, but I just feel so strong about the OPPORTUNITY this METHOD offers that I just had to share. NO MATTER how simple this or any METHOD MIGHT BE, some will never give it a try & a percentage of those that do will not succeed & it will be no fault of the method because what works for one will not work for another. Some will NEVER follow the RULES.
I don't want it to seem that I have taken over the thread, so I will for the most part try & limit my comments, but will response to those that have a question that I might be of help with. I for sure do not have all the answers,
but I have a clear understanding of THE JACKO"S METHOD & IT WORKS.
"The Holy Grail Is Not The Method Traded, But The Trader"
________________________________________________
AceTrader
- #1,816
- Mar 12, 2008 11:54am Mar 12, 2008 11:54am
- Joined Apr 2006 | Status: Metatrader Programmer | 1,422 Posts
Ace whats your next market entry? I have 1.5510 with 50 pips stop loss.
- #1,817
- Mar 12, 2008 12:17pm Mar 12, 2008 12:17pm
- | Joined Mar 2007 | Status: Jacko Turtle | 40 Posts
If I get right the Jacko-style, since we are at the all time high for EU I would wait for a better bargain and let the price retrace a little bit and enter long again at 1.5300-1.5330 area that is the 50% for the area 1.5145-1.5514 but I could be wrrooong
Round number
50% fib 1.5282-1.5512
I'm thinking a deeper retracement to 1.5300 might not happen before it takes off north again.
But I also could be wwwrong!
If I get right the Jacko-style, since we are at the all time high for EU I would wait for a better bargain and let the price retrace a little bit and enter long again at 1.5300-1.5330 area that is the 50% for the area 1.5145-1.5514 but I could be wrrooong
Bona cera!
Hey Skyline whats that "jacko helper" EA on your MT4? some kind of indicator?
I agree with 5300 since its a 50% retracement..
- #1,819
- Mar 12, 2008 1:43pm Mar 12, 2008 1:43pm
- Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
If I get right the Jacko-style, since we are at the all time high for EU I would wait for a better bargain and let the price retrace a little bit and enter long again at 1.5300-1.5330 area that is the 50% for the area 1.5145-1.5514 but I could be wrrooong
try to add another TL to your charts to create the channel, from this you will see a potential top, and have a better idea of where the next 50% will be , we have seen 1.5300 a few time now and with patience, this would have made (i got in at 1.5300 on a buy stop order) a great entry area to watch. it's highly unlikely to be seen again unless we see a very large retracement and that is most likely going to take us into the 1.51XX area, so keep you fib following up to the high and track the 50%
other than that your heading in the right direction, wait for the better price, the higher we go in this climate the more volatile the pair will become as the banks try to resolve money issues. so a better buy is just around the corner.
I got Jacko's exit strategy all right, I just have hard time with market entries.
Example: yesterday, I bought in at 15305 as it retraces back north (off a support line, incidentally, but I didn't notice it
). Best bit about this example was that I did it with a stoploss of just 10 pips, then when it felt like it was moving in the right direction, I moved the stop to breakeven, and let the trailing stop "expand" to 50pips. Held it over night, opened another position this morning at 15405, again a stop of just 10 pips. I closed when I sensed heavy resistance, total possible pip profit about 250pips depending when you exit. So, 250 pips reward for 20 pip risk. Caveat: you may have a couple of false starts especially if it hesitates and hits your stop but then you were probably wrong about the change in direction so why waste more pips to be proven wrong? Another caveat is that it does mean you have to be at your desk to spot the opportunities, but I'm usually on my PC checking out other forums or playing games or very close to it, anyway.
The market reveals who we really are...