Jacko's Forex House of Pleasure and Pain | Page 134 | Forex Factory

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Jacko's Forex House of Pleasure and Pain

  • #2,661
  • Apr 10, 2008 8:36pm Apr 10, 2008 8:36pm
Trailing stop build into Mt4 is trailing "in profit" meaning it will not start to move the stop inless you X number of pips in profit.

In order to use trailing stop "from the entry" you need to put this file (attached) into you mt4/experts folder.

then when you restart MT4 it will show up under "expert advisors" then you drag it on to the chart and set desired trailing stop loss and you in business


Quoting FX_California
Gagiul:
Can you pl suggest me a good MT4 broker who allows demo trade for a longer period of time and have trailing stop? Are there any indicator/template in this thread strictly following Jacko's method? I also want to join Jacko's trading group. But before that I want to make myself ready. Thanks in advance for your reply.
-FX_California
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File Type: mq4 TrailingStop.mq4   9 KB | 673 downloads
  • #2,662
  • Apr 10, 2008 8:54pm Apr 10, 2008 8:54pm
Quoting Aad
"The Demise of the Euro"

Here's an interesting read guys, Jacko any thoughts on this?...

http://www.forexfactory.com/news.php?do=news&id=80660

or

http://www.forbes.com/opinions/forbes/2008/0421/034.html
Some interesting thoughts there.
So much for the superiority of a unified currency...LOL
Same Whore .... Different Dress
  • #2,663
  • Apr 10, 2008 9:47pm Apr 10, 2008 9:47pm
Thank you gaigul for that great post! and thanks to the others for quoteing it.

Sometimes it's very, very helpful for me to have something explained to me a few different ways to really grasp, and absorb the concept etc. of this method.

You explained it very succinctly, mucho gracias
  • #2,664
  • Apr 10, 2008 9:54pm Apr 10, 2008 9:54pm
Quoting johnedoe
Some interesting thoughts there.
So much for the superiority of a unified currency...LOL

I think the conclusion is correct concerning the Euro long term.
  • #2,665
  • Apr 10, 2008 9:55pm Apr 10, 2008 9:55pm
Quoting Aad
"The Demise of the Euro"

Here's an interesting read guys, Jacko any thoughts on this?...

http://www.forexfactory.com/news.php?do=news&id=80660

or

http://www.forbes.com/opinions/forbes/2008/0421/034.html
sorry, I meant to quote this post
  • #2,666
  • Apr 10, 2008 10:38pm Apr 10, 2008 10:38pm
Quoting Aad
"The Demise of the Euro"

Here's an interesting read guys, Jacko any thoughts on this?...

http://www.forexfactory.com/news.php?do=news&id=80660

or

http://www.forbes.com/opinions/forbes/2008/0421/034.html
Interesting, thanks for the heads-up.

-Sean
  • #2,667
  • Apr 11, 2008 12:18am Apr 11, 2008 12:18am
Since 7:00 PM PDT EUR has been inching back up. It seems to have bounced of the TL on the 3 hr chart..... will it test 1.59 again?
Will it finally break 1.59?
Or will we see the start of a retracement?
Decisions Decisions.......
Same Whore .... Different Dress
  • #2,668
  • Apr 11, 2008 12:44am Apr 11, 2008 12:44am
As with everything in life, it's fun to look back a few years and see how some people have succeeded.

It's impressive to see that Jacko has ridden the EUR/USD up from 1.20 to where we are now with large volumes.

I'm a big believer in putting yourself around people who are successful in what you wish to become successful at. We all start somewhere in everything. It's all that Tony Robbins stuff I learned over the last 20 years! I've applied the principle in professional sport and business ...and it works.

My latest endeavour involves joining Jacko's group, which I have. I'm looking forward to the journey.
Attached Image (click to enlarge)
Click to Enlarge Name: jacko 1.jpg Size: 67 KB
  • #2,669
  • Apr 11, 2008 1:03am Apr 11, 2008 1:03am
Quoting pavlov0032
Trailing stop build into Mt4 is trailing "in profit" meaning it will not start to move the stop inless you X number of pips in profit.

In order to use trailing stop "from the entry" you need to put this file (attached) into you mt4/experts folder.

then when you restart MT4 it will show up under "expert advisors" then you drag it on to the chart and set desired trailing stop loss and you in business
Pavlov0032

Thank you very much...

-FX_California
  • #2,670
  • Apr 11, 2008 1:59am Apr 11, 2008 1:59am
Quoting takeprofit
Hello

My First Post here...

I am in at 732.

TP
Good morning all

I'm starting to think about Exit points now or trailing my stop and would appreciate your thoughts and views.

Thanks

TP
  • #2,671
  • Apr 11, 2008 2:04am Apr 11, 2008 2:04am
Quoting FX_California
Pavlov0032

Thank you very much...

-FX_California
I think you got the answer already. Sorry for being late replying to you.
We leave no soldier behind.
  • #2,672
  • Apr 11, 2008 2:37am Apr 11, 2008 2:37am
Set a buy order at 7500 this morning and forgot about it, got on the computer only to see I was up 88 pips... I think we are going to 1.5900 again, then hopefully 1.600.

I LOVE passive income...
Live From Los Angeles
  • #2,673
  • Apr 11, 2008 2:44am Apr 11, 2008 2:44am
Trend resumption? I hope so,I have been on the sidelines for a while lol... What do you guys think?
Attached Image (click to enlarge)
Click to Enlarge Name: chartvx2.jpg Size: 53 KB
Live From Los Angeles
  • #2,674
  • Apr 11, 2008 2:45am Apr 11, 2008 2:45am
I am expecting some resistance at 5850 level.
  • #2,675
  • Apr 11, 2008 2:59am Apr 11, 2008 2:59am
Can anyone here tell me if they have used Jackos trading style on the eur/gbp?
All that is left in FF is just plain garbage. "Cloggie"
  • #2,676
  • Apr 11, 2008 3:08am Apr 11, 2008 3:08am
Quoting tonyo524
Can anyone here tell me if they have used Jackos trading style on the eur/gbp?

I have not. I have been researching Jacko's posts. If you read here you will see that Jacko explains that his 'method' can be applied to any currency pair which trends:

http://www.forexfactory.com/showthread.php?p=1920336#post1920336
  • #2,677
  • Apr 11, 2008 3:17am Apr 11, 2008 3:17am
Quoting takeprofit
I have not. I have been researching Jacko's posts. If you read here you will see that Jacko explains that his 'method' can be applied to any currency pair which trends:

http://www.forexfactory.com/showthread.php?p=1920336#post1920336

thanks
All that is left in FF is just plain garbage. "Cloggie"
  • #2,678
  • Apr 11, 2008 3:25am Apr 11, 2008 3:25am
Quoting takeprofit
Good morning all

I'm starting to think about Exit points now or trailing my stop and would appreciate your thoughts and views.

Thanks

TP
Good morning Take Profit,

If you are using a trailing stoploss, you can just let it take out the trade. This mechanical way of closing a trade will take the emotions out of it and Jacko favours it in his method. There are others that advocate a more discretionary approach and feel a mechanical way takes the responsibility away from a trader. So really at the end of day it's up to you what you feel comfortable with. Personally I will usually take out half my positions at a certain amount of pips or at a point of strong resistance and then trail the rest (letting the tsl take it out). I am happy doing that even though there will be others saying that I shouldn't take profit early when on a winning trade.

Happy trading to you !

Bakuli
  • #2,679
  • Apr 11, 2008 3:39am Apr 11, 2008 3:39am
Quoting Bakuli
Good morning Take Profit,

If you are using a trailing stoploss, you can just let it take out the trade. This mechanical way of closing a trade will take the emotions out of it and Jacko favours it in his method. There are others that advocate a more discretionary approach and feel a mechanical way takes the responsibility away from a trader. So really at the end of day it's up to you what you feel comfortable with. Personally I will usually take out half my positions at a certain amount of pips or at a point of strong resistance and then trail the rest (letting the tsl take it out). I am happy doing that even though there will be others saying that I shouldn't take profit early when on a winning trade.

Happy trading to you !

Bakuli
Hello Bakuli

I will admit that emotion is one of my biggest battles. I am trying to be much more robot like in my trading but its hard. I am human after all.

My trading platform does not apply trailing stops for me so I would have to do this manually. I would like to get away from my screen more in future and have been making arrangements / appointments to force me to do this.

I could see resistance coming at 5850 so I considered setting a limit order there to close me out automatically. I could still do this now.

I just cant get away from 5900 as I see too many pointers pushing us this way and beyond.

I might not make my appointment today…

Good trading to you Bakuli and everyone else.

TP
  • #2,680
  • Apr 11, 2008 3:55am Apr 11, 2008 3:55am
Quoting takeprofit
Hello Bakuli

I will admit that emotion is one of my biggest battles. I am trying to be much more robot like in my trading but its hard. I am human after all.

My trading platform does not apply trailing stops for me so I would have to do this manually. I would like to get away from my screen more in future and have been making arrangements / appointments to force me to do this.

I could see resistance coming at 5850 so I considered setting a limit order there to close me out automatically. I could still do this now.

I just cant get away from 5900 as I see too many pointers pushing us this way and beyond.

I might not make my appointment today…

Good trading to you Bakuli and everyone else.

TP
Hi Take Profit,

If you feel undecided, why not have a compromise. Take part profit at 5850 (if you feel there is going to be much resistance there and possibly a bounce) and let the rest of the trade play itself out.

My trading platform does not have a TSL facility too. So I do it manually every hour or so. I know there are others who move the stops less frequently. If I am out, I have a "pocket surfer -( a mobile internet surfer)" that I can check on my trade and move the TSL if I need to. That way I don't feel I have to be glued to the screen and still can engage in other activities beside trading

Bakuli
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