Jacko's Forex House of Pleasure and Pain
I agree. I find it too risky to enter now. 5650 should be a good entrance, and if broken, 5500 and 5200 are next.
now all we need is someone that actually understand what the hell he is saying. all i need is
good - wait for lower price
bad - buy baby buy
this is a fallen soldier guys and girls - Not an AH position
isn`t FS=AH,i thought when u place AH is to recover loss which is FS....
I have the same setup
Ocean
i c , but to me FS is just a price where i was stoped for a loss,thus AH placed after price move past FS 50+ pips,probably same consept...
[quote=MPP;1945982]
FS = Fallen Soldier = position at which your Trailing stop was hit
AH = Anti Hedge = trade placed after price moves 50pips further past yoour FS
example
entry 1.5000
TSL = 1.4950 - stop hit for -50pips
price now continues to move down 1.4898 - more than 50pips - AH trade placed at 1.4950 for the run back up.
or price only moves to 1.4930 (20pips) and continues up past our original entry point leaving the FS behind us - no AH placed, we wait for another try lower first.
hope this helps
Sure, pipsalot. But please keep in mind that im just a newbie and I might just have been lucky these days. However, Im trying to apply the simple rules that Jacko taught us.
1. always go with the trend, so with euro dont try to sell while on Daily you see mainly an upward movement.
2. dont get greedy. wait until the price drops to half of the previous move up. that is usually a good place to buy. Remember that we always have to buy at a "bargain" price
3. Have a hard stop in place, which should be either 50 or 100, depending on the market conditions. For example, a stop of 50 pips in a serious uptrend move should be safe, because the price will not whipsaw much before resuming the up move. However, in the last few days euro ranged most of the time, so a stop of 100 would have kept you out of whipsaw more often than only 50 pips.
4. also use a trailing stop to make sure you bank profits because, as you saw today, euro ran until 1.5900 and now its at 1.5750. Without a TP to important levels, such as 1.5900, in my case, or at least a trailing stop, you would have seen your profits evaporate like gasolin and you dont want that to happen.
5. Dont forget about AH. Every time you lose, put the buy order at the price where your transaction was closed. Dont get upset for losing, if you trade with the trend, the price will always return and put you back in the market.
I hope I was of help. Ask me anything else you want, but my advice is to stick around this thread because you will learn good stuff sooner than you think
Since I started trading the Jacko method, around March 24th, I barely had any losses. I just checked my account today to see the history, after my last buy order reached 5900 this morning
I am a newbie, and I dont intend to brag, just to show to all these new guys coming here and trying this very unusual method , that it works, and even a newbie like me, who couldnt believe before that you can trade with naked charts, can be profitable on Forex. Hanging around this thread and learning as much as you can every day can be a good start.
Thank you again Jacko.
I think he himself doesnt know what he's saying.....
Sure, pipsalot. But please keep in mind that im just a newbie and I might just have been lucky these days. However, Im trying to apply the simple rules that Jacko taught us.
1. always go with the trend, so with euro dont try to sell while on Daily you see mainly an upward movement.
2. dont get greedy. wait until the price drops to half of the previous move up. that is usually a good place to buy. Remember that we always have to buy at a "bargain" price
3. Have a hard stop in place, which should be either 50 or 100, depending on the market conditions. For example, a stop of 50 pips in a serious uptrend move should be safe, because the price will not whipsaw much before resuming the up move. However, in the last few days euro ranged most of the time, so a stop of 100 would have kept you out of whipsaw more often than only 50 pips.
4. also use a trailing stop to make sure you bank profits because, as you saw today, euro ran until 1.5900 and now its at 1.5750. Without a TP to important levels, such as 1.5900, in my case, or at least a trailing stop, you would have seen your profits evaporate like gasolin and you dont want that to happen.
5. Dont forget about AH. Every time you lose, put the buy order at the price where your transaction was closed. Dont get upset for losing, if you trade with the trend, the price will always return and put you back in the market.
I hope I was of help. Ask me anything else you want, but my advice is to stick around this thread because you will learn good stuff sooner than you think
