Jacko's Forex House of Pleasure and Pain | Page 129 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Chicky's House of Pleasure and Pain 11 replies

Carry Backet w/ Jacko's AH 10 replies

Hello Guys is a pleasure to be here. I'm new to MT4 1 reply

Jacko's P&P Trend Trading Method 73 replies

Attachments: Jacko's Forex House of Pleasure and Pain
Exit Attachments

Jacko's Forex House of Pleasure and Pain

  • #2,561
  • Apr 9, 2008 11:41am Apr 9, 2008 11:41am
Quoting pavlov0032
looks like it will break 5850 watch the sudden surge up.. i have very tight stop loss at 5817

not a single red candle on H1

thats it.. stopped out
6 candles, to be exact. As far as I understand CS, this usually goes up to 8 or 9 candles, before stopping.
  • #2,562
  • Apr 9, 2008 11:45am Apr 9, 2008 11:45am
Although i lost only 20 pips on 1 mini lot..I think that would be last CT trade for me..
looking on D1 it has enough velocity to hit 5900...
  • #2,563
  • Apr 9, 2008 11:55am Apr 9, 2008 11:55am
I am thinking that I might TP around 1.5900 all-time high. Then re-enter at 1.5940 or there abouts, if we make new highs.

Not exactly Jacko's method but perhaps prudent. Any thoughts?

-Sean
  • #2,564
  • Apr 9, 2008 11:59am Apr 9, 2008 11:59am
Moved SL to 1.5790; and now will let it expand to 100 pips.

-Sean
  • #2,565
  • Apr 9, 2008 12:04pm Apr 9, 2008 12:04pm
Quoting pavlov0032
looks like it will break 5850 watch the sudden surge up.. i have very tight stop loss at 5817

not a single red candle on H1

thats it.. stopped out
You DESERVE IT!!! what are you doing on this thread if you are selling in an uptrend?
We leave no soldier behind.
  • #2,566
  • Apr 9, 2008 12:07pm Apr 9, 2008 12:07pm
I was going with Jacko's call on the CT trade..
It did not look good to me at 5750 I thought 5800 was a better entry point..

If you read up Jacko predicted a big market correction.



Quoting gagiul
You DESERVE IT!!! what are you doing on this thread if you are selling in an uptrend?
  • #2,567
  • Edited 12:40pm Apr 9, 2008 12:15pm | Edited 12:40pm
Quoting seanchicago
I am thinking that I might TP around 1.5900 all-time high. Then re-enter at 1.5940 or there abouts, if we make new highs.

Not exactly Jacko's method but perhaps prudent. Any thoughts?

-Sean
Hi Sean

Yes, I think that's prudent. In fact I just closed half my positions and trailing the rest now. I think there is a high probability we are going to see 5900. After that who knows what will happen ! Possibility of a downturn (formation of a triple top) or will it go aiming for 6000 ! I am just going to stick with the main trend for now and leave the counter trend alone for the time being at least.

Happy trading to all !

bakuli
  • #2,568
  • Apr 9, 2008 12:21pm Apr 9, 2008 12:21pm
Quoting Bakuli
Hi Sean

Yes, I think that's prudent. In fact I just closed half my positions and trailing the rest now. I think there is a high probability we are going to see 5900. After that who knows what will happen ! Possibility of a downturn (formation of a triple top) or will it go aiming for 5600 ! I am just going to stick with the main trend for now and leave the counter trend alone for the time being at least.

Happy trading to all !

bakuli
Thanks for the response. I like the idea of closing half the position. I'll sell half at 5900 and let the rest run with a 100 trailing pip stop (or maybe 80 pips).

Thanks again and good luck,

Sean
  • #2,569
  • Apr 9, 2008 12:43pm Apr 9, 2008 12:43pm
Quoting seanchicago
Thanks for the response. I like the idea of closing half the position. I'll sell half at 5900 and let the rest run with a 100 trailing pip stop (or maybe 80 pips).

Thanks again and good luck,

Sean
Hi Sean

Just posting to correct a typo in my above post. I meant to write will the price go aiming for 6000, not 5600 ! Sorry for the mistake.

Good luck with our trades !

Bakuli
  • #2,570
  • Apr 9, 2008 12:55pm Apr 9, 2008 12:55pm
Looks like the market is setting itself up for the bank announcements tomorrow.

Where next. Could we see 1.6000 or maybe 1.5330/5350

BabeFX.

You can't win if your'e not in.
  • #2,571
  • Apr 9, 2008 1:01pm Apr 9, 2008 1:01pm
This looks exactly like before 1.49xx was broken

3 run ups, 3 corrections and then thru the roof
Attached Image(s) (click to enlarge)
Click to Enlarge Name: trend2.gif Size: 19 KB
Click to Enlarge Name: trend.gif Size: 19 KB
  • #2,572
  • Apr 9, 2008 1:02pm Apr 9, 2008 1:02pm
I went long earlier from 5700 after a couple of losing trades. Bailed at 5800 but immediately thought I should have stuck with the 50 pip trailing stop. My tip as a newbie - trade very small amounts (as I am doing) rather than demo. I would have left a demo trade but after seeing money go out (albeit small) the emotional aspect to bank is not something to ignored.
  • #2,573
  • Apr 9, 2008 1:40pm Apr 9, 2008 1:40pm
Went long at 1.5730 for 100+ pips gain...
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 4-9-08.gif Size: 26 KB
  • #2,574
  • Apr 9, 2008 1:42pm Apr 9, 2008 1:42pm
I have been out of the market for a while and todays move is yet another slap in my face for allowing myself to be swayed by others opinions of the weakness in the Euro. The whole premise of this strategy is to leave your brain at the door and put yourself in the flow of a trend. This trend won't continue forever and it is foolish to guess when it will seriously retrace or change direction. Another reminder for me that trading is 90% mindset and you don't need to know where the market is going to make money.
  • #2,575
  • Apr 9, 2008 1:50pm Apr 9, 2008 1:50pm
Quoting saskgui
I have been out of the market for a while and todays move is yet another slap in my face for allowing myself to be swayed by others opinions of the weakness in the Euro. The whole premise of this strategy is to leave your brain at the door and put yourself in the flow of a trend. This trend won't continue forever and it is foolish to guess when it will seriously retrace or change direction. Another reminder for me that trading is 90% mindset and you don't need to know where the market is going to make money.
You're on your way, good thinking...
  • #2,576
  • Apr 9, 2008 1:57pm Apr 9, 2008 1:57pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting saskgui
I have been out of the market for a while and todays move is yet another slap in my face for allowing myself to be swayed by others opinions of the weakness in the Euro. The whole premise of this strategy is to leave your brain at the door and put yourself in the flow of a trend. This trend won't continue forever and it is foolish to guess when it will seriously retrace or change direction. Another reminder for me that trading is 90% mindset and you don't need to know where the market is going to make money.
take it easy on yourself, my chart was set perfect for the long, but for 2 reasons i didn't take it 1. my daughters birthday so not around to see news etc and 2. Jacko's CT trade was still on the cards and this through me off.

your not the only one to miss this, but don't worry, theres always tomorrow. and this may just be a sharp move before the down side emerges. it's long over due, we've had some small waves but not the normal waves that flow gently accross our sceens and make trading easy.

Set your fib's and TL - the news will give us some good moves tomorrow, but only one side will win - who? i don't know, i'm still hoping Raz will find who and get the answer
  • #2,577
  • Apr 9, 2008 2:20pm Apr 9, 2008 2:20pm
Quoting MPP
take it easy on yourself, my chart was set perfect for the long, but for 2 reasons i didn't take it 1. my daughters birthday so not around to see news etc and 2. Jacko's CT trade was still on the cards and this through me off.

your not the only one to miss this, but don't worry, theres always tomorrow. and this may just be a sharp move before the down side emerges. it's long over due, we've had some small waves but not the normal waves that flow gently accross our sceens and make trading easy.

Set your fib's and TL - the news will give us some good moves tomorrow, but only one side will win - who? i don't know, i'm still hoping Raz will find who and get the answer
Hi!

Just went through the daily charts and I looked for all previous major tops, before they reversed. Interesting enough, two of them reversed before reaching a "target" number.

16.02.2004: did not make it to 1.3000
17.6.2003: did not make it to 1.2000

So, is there a possibility, we won't see 1.6000, before going sharply down?


Only guessing, have no idea what will happen. I know that Jacko is short to medium term bearish, and there seems to be a lot of pressure for $ to strengthen, but you never know with this crazy market. And Bernake speaks again tomorrow... That alone should produce some 150+ pips...
  • #2,578
  • Apr 9, 2008 3:13pm Apr 9, 2008 3:13pm
Quoting hendrix

So, is there a possibility, we won't see 1.6000, before going sharply down?
I think this is a great probability and I believe the dollar might soon be forced to strengthen again before it finally gives out. But with that said I don't feel a counter trade would be prudent at this time, my last one was at 1.5725 and it went down to 1.5673.

Either way I simply allow the market to come to me and pick up my order(s) or not. At worst I'll simply break just above my break even point should an order retrace...
  • #2,579
  • Edited 3:38pm Apr 9, 2008 3:21pm | Edited 3:38pm
Quoting hendrix
Hi!

Just went through the daily charts and I looked for all previous major tops, before they reversed. Interesting enough, two of them reversed before reaching a "target" number.

16.02.2004: did not make it to 1.3000
17.6.2003: did not make it to 1.2000

So, is there a possibility, we won't see 1.6000, before going sharply down?


Only guessing, have no idea what will happen. I know that Jacko is short to medium term bearish, and there seems to be a lot of pressure for $ to strengthen, but you never know with this crazy market. And Bernake speaks again tomorrow... That alone should produce some 150+ pips...
Hi Hendrix,

Yes, get your longs on (not a trading advice!) ! Good old Bernake speaks tomorrow ! Zoopy gets excited each time he speaks !

Anyway, I have given up trying to guess which way the market will go. And I don't pay too much attention to news either because I believe most of the time the market has already absorbed it by the time we get to hear it. I try to just trade off the charts and follow the path of least resistance. I think if we just stick to the principle of trading with the main trend and buy from dips, we will often be more right than wrong !

Good trading to all !

Bakuli
  • #2,580
  • Apr 9, 2008 3:31pm Apr 9, 2008 3:31pm
Quoting Bakuli
I try to just trade off the charts and follow the path of least resistance. I think if we just stick to the principle of trading with the main trend and buy from dips, we will often be more right than wrong !

Good trading to all !

Bakuli

Hi Bakuli,


and amen to that.
2 traders viewing now