Jacko's Forex House of Pleasure and Pain | Page 105 | Forex Factory

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Jacko's Forex House of Pleasure and Pain

  • #2,081
  • Mar 25, 2008 5:18am Mar 25, 2008 5:18am
Gagiul,

Nice gains on that trade. Now lets see what happens when the news is released. A slide down COULD be next & that would offer a nice entry level.

AceTrader
  • #2,082
  • Mar 25, 2008 5:33am Mar 25, 2008 5:33am
Thanks to Jacko and all contributers to this thread. I am actively monitoring and putting into practice this straight forward and concise sytem after spending months trialling indicators. I am hoping to contribute more in the upcoming weeks and hopefully we can all continue to make pips.

Could I ask which news you guys are wary of - is it the US HPI and Consumer confidence due @ 13:00 & 14:00 respectively ?

Mike.
  • #2,083
  • Mar 25, 2008 5:37am Mar 25, 2008 5:37am
Sorry, I'm not that clever. I will just wait and see! Maybe it will jump up another 100 pips after the news hits but then we will just wait until tomorrow before getting a suitable entry point.
The market reveals who we really are...
  • #2,084
  • Mar 25, 2008 6:17am Mar 25, 2008 6:17am
i too thought about an entry at 15350 but changed my mind because of all the noise on this thread,stupid but a good reason for going back to the basics.live and learn as they say !!!!!!!!
  • #2,085
  • Mar 25, 2008 7:01am Mar 25, 2008 7:01am
Quoting Gerard212
i too thought about an entry at 15350 but changed my mind because of all the noise on this thread,stupid but a good reason for going back to the basics.live and learn as they say !!!!!!!!
Always decide for your self what do to, no matter what. I went long too, even if I've read a few bearish posts on the EUR/USD thread.

Anyway, my only true guidance remains Jacko himself. But by saying that, there are some other good contributors to this thread also.
  • #2,086
  • Mar 25, 2008 7:57am Mar 25, 2008 7:57am
Quoting Gerard212
i too thought about an entry at 15350 but changed my mind because of all the noise on this thread,stupid but a good reason for going back to the basics.live and learn as they say !!!!!!!!
Yes, live and learn. There will be another entry. I used to listen to tips from others and also listen to the analysis of others. I lost money. Then realised I should ignore it all and look myself.
The market reveals who we really are...
  • #2,087
  • Mar 25, 2008 9:34am Mar 25, 2008 9:34am
Hello EveryOne,

Well a new day has brought on more upside & my longs from last date @5410 & 5434 are doing well & the pips are locked in.

I have noticed some posting about trading based on their own decisions & not what others are saying & I say more power to these traders as that is the best way. Read what others are saying check the technicals & in the end the decision is ultimately yours as how to trade. That is a step to becoming a profitable trader.

AceTrader
  • #2,088
  • Mar 25, 2008 10:12am Mar 25, 2008 10:12am
Buy @ 1.5400 without SL yesterday and close @ 1.5600 TP today. Actually i forgot to set the SL. LOL.. Wheww.. just a lucky trade. I'll wait for another posible entry for long.
~~{@ nOrMaL iS bORiNg @}~~
  • #2,089
  • Mar 25, 2008 10:23am Mar 25, 2008 10:23am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting adzreenyp
Buy @ 1.5400 without SL yesterday and close @ 1.5600 TP today. Actually i forgot to set the SL. LOL.. Wheww.. just a lucky trade. I'll wait for another posible entry for long.
Quick question - Have you read this thread

without SL

TP - ok if you must but it's still not part of this method unless you feel that the steam is running out.

scary trade in this market. at least your still here to tell the tale
  • #2,090
  • Mar 25, 2008 11:07am Mar 25, 2008 11:07am
Well maybe the fibs are easy for some but I was looking for the 1.5150 area for a retrace, so I learn patience !!!
  • #2,091
  • Mar 25, 2008 11:28am Mar 25, 2008 11:28am
Quoting George B.
Well maybe the fibs are easy for some but I was looking for the 1.5150 area for a retrace, so I learn patience !!!
The 1.5150 area is very good place to buy when this reaction confirms to be a reaction rather than trend resumption.

Ocean
  • #2,092
  • Mar 25, 2008 11:30am Mar 25, 2008 11:30am
38.2% Fibo of 1.4437-1.5900 = 1.5341

Actual low was 1.5340

The move from 1.5900-1.5341 was also the first decent retrace.
  • #2,093
  • Mar 25, 2008 12:24pm Mar 25, 2008 12:24pm
A nice steady upward climb is developing @ this time, but will it last is the question? I hope everyone got onboard @ a nice level.

AceTrader
  • #2,094
  • Mar 25, 2008 12:45pm Mar 25, 2008 12:45pm
Quoting acetrader
A nice steady upward climb is developing @ this time, but will it last is the question? I hope everyone got onboard @ a nice level.

AceTrader

I got in at 1.55120 , not so good of a level compared to others. Thought I'm very surprized and now totally confused of where it is headed. Now after looking at charts I'm thinking maybe its headed for 1.6000, a correction of only fib 38 shows that market still has strength to go further and maybe after hitting 1.6000 we gona have a more serious correction.

just some wild thoughts, what do others think of further price action?
  • #2,095
  • Mar 25, 2008 1:35pm Mar 25, 2008 1:35pm
Quoting kaunasny
I got in at 1.55120 , not so good of a level compared to others. Thought I'm very surprized and now totally confused of where it is headed. Now after looking at charts I'm thinking maybe its headed for 1.6000, a correction of only fib 38 shows that market still has strength to go further and maybe after hitting 1.6000 we gona have a more serious correction.

just some wild thoughts, what do others think of further price action?
I think testing of 1.6000 is possible but I don't anticipate to make new highs just yet. I think this correction hasn't finished yet. I could be wrong though. As stated earlier trade what you believe not what you read here or in any other post. We don't trade the market, we trade what we believe.

Ocean
  • #2,096
  • Mar 25, 2008 2:35pm Mar 25, 2008 2:35pm
Was I the only one stopped out this morning in the 10 to 11 GMT bar that spiked down to 5525? I was manually trailing 50 pips and somehow got 3 pips too close or I would still be in trade. I got in at 5425 and took 100 pips any way so not to complain for sure. Price has breached the daily downtrend line and holding for now, it doesn't seem to have found any buyers on the topside of 5600 yet.
  • #2,097
  • Mar 25, 2008 3:03pm Mar 25, 2008 3:03pm
IT's going to 2.0 eventually!!

http://forum.alpari-idc.ru/images/smilies/a110.gif
Quoting kaunasny
I got in at 1.55120 , not so good of a level compared to others. Thought I'm very surprized and now totally confused of where it is headed. Now after looking at charts I'm thinking maybe its headed for 1.6000, a correction of only fib 38 shows that market still has strength to go further and maybe after hitting 1.6000 we gona have a more serious correction.

just some wild thoughts, what do others think of further price action?
  • #2,098
  • Mar 25, 2008 3:26pm Mar 25, 2008 3:26pm
I've closed my position and now I'm waiting for a dip. Maybe I should just let the trade to play itself out, but I'm happy with the pips I gained.


1.5530 would be another nice entry point.
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  • #2,099
  • Mar 25, 2008 3:45pm Mar 25, 2008 3:45pm
Quoting hendrix
1.5530 would be another nice entry point.
Unfortunately missed that move. Was waiting for re-trace as per previous post, never happened. Am learning that lovely virtue called patience.

I put in the exact same buy at 1.5530 then read the post of Hendrix.

Is the old support level.

K8
  • #2,100
  • Mar 25, 2008 3:54pm Mar 25, 2008 3:54pm
This was my first really profitable move in Eur Usd. Thank you Jacko. I had a new AH position which put me in at.5576 and a buy order at .5600. I have now 4 lots opened and 2 of them at over 100 pips profit.

My idea is that you should never underestimate the power of the market. Thinking that we are in a correction period might keep us out of some great trades. Im not trying to change people's minds here, but it was interesting to see how people still try to estimate the market instead of following it. In the beginning we thought .5500 will be the final level. Then .5600. Now price its at .5646. We might see.5700 before we see another retrace down. Or maybe even higher levels. Just go with the flow.

Simply putting buy orders at dips and at round levels and waiting for the price to get you in is the best strategy I've learned until now. Maybe im too overexcited bu the initial success, but I am clearly seeing the power of this simple strategy Jacko taught us.
We leave no soldier behind.
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