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Jacko's Forex House of Pleasure and Pain

  • #3,521
  • Apr 28, 2008 6:37am Apr 28, 2008 6:37am
Quoting SBrickman
http://i32.tinypic.com/122n5sw.gif

"When in Rome..."
first post to this thread....what is the indicator?
(the second window)
  • #3,522
  • Apr 28, 2008 6:44am Apr 28, 2008 6:44am
Quoting B@by trader
first post to this thread....what is the indicator?
(the second window)
It is based on Jacko's definition of trend.

If the current price is above the open price # bars ago, then trend is up.

If the current price is below the open price # bars ago, then trend is down.

I found it by google.
  • #3,523
  • Apr 28, 2008 6:53am Apr 28, 2008 6:53am
can you elaborate by labelling the picture+I need more details?
  • #3,524
  • Apr 28, 2008 7:01am Apr 28, 2008 7:01am
Quoting B@by trader
can you elaborate by labelling the picture+I need more details?
I don't know how to label the picture.

The price is below the price 1440 minutes ago by 13 pips. The price is above the price 240 minutes ago by 45 pips. That is, if I correctly understand how the indicator works.
  • #3,525
  • Apr 28, 2008 7:08am Apr 28, 2008 7:08am
Quoting SBrickman
I don't know how to label the picture.

The price is below the price 1440 minutes ago by 13 pips. The price is above the price 240 minutes ago by 45 pips. That is, if I correctly understand how the indicator works.
can post the indicator+how you trade it I mean you only open position when all arrow same colour same direction or how?
  • #3,526
  • Apr 28, 2008 7:45am Apr 28, 2008 7:45am
Ok... it was only a matter of time before indicators were going to start popping up. For those that are confused as to how to determine the trend, read the following posted by Jacko.

 DETERMINE THE TIME FRAME THAT YOU WANT TO TRADE.

1. If the graph on the chart starts in the bottom left hand corner and ends in the top right hand corner, the market is going UP.
2. If the graph on the chart starts in the top left hand corner and ends in the bottom right hand corner, the market is going DOWN.
3. If you are still confused, print it off and show it to a 5 year old...they will get it right EVERY time...LOL

As far as I know, you do NOT need an indicator to do this. If a 5 year old can do this, I'm sure everyone of us is capable of doing it too lol.
  • #3,527
  • Apr 28, 2008 7:53am Apr 28, 2008 7:53am
Looks like I am in for this week. 5650 based on my AH from last weeks 5700 reversal. Price hit under 5600 so I have entered. Not sure how it will go, but thats the beauty of this market...

Max
  • #3,528
  • Apr 28, 2008 7:56am Apr 28, 2008 7:56am
Quoting cruze2005
Looks like I am in for this week. 5650 based on my AH from last weeks 5700 reversal. Price hit under 5600 so I have entered. Not sure how it will go, but thats the beauty of this market...

Max
Positive move up recently. I hope the Bears got bored or gave up.

TP
  • #3,529
  • Apr 28, 2008 7:57am Apr 28, 2008 7:57am
Quoting zoopy
Ok... it was only a matter of time before indicators were going to start popping up. For those that are confused as to how to determine the trend, read the following posted by Jacko.

DETERMINE THE TIME FRAME THAT YOU WANT TO TRADE.

1. If the graph on the chart starts in the bottom left hand corner and ends in the top right hand corner, the market is going UP.
2. If the graph on the chart starts in the top left hand corner and ends in the bottom right hand corner, the market is going DOWN.
3. If you are still confused, print it off and show it to a 5 year old...they will get it right EVERY time...LOL

As far as I know, you do NOT need an indicator to do this. If a 5 year old can do this, I'm sure everyone of us is capable of doing it too lol.


Pretty Basic, eh!
  • #3,530
  • Apr 28, 2008 8:04am Apr 28, 2008 8:04am
Quoting zoopy
Ok... it was only a matter of time before indicators were going to start popping up. For those that are confused as to how to determine the trend, read the following posted by Jacko.

DETERMINE THE TIME FRAME THAT YOU WANT TO TRADE.

1. If the graph on the chart starts in the bottom left hand corner and ends in the top right hand corner, the market is going UP.
2. If the graph on the chart starts in the top left hand corner and ends in the bottom right hand corner, the market is going DOWN.
3. If you are still confused, print it off and show it to a 5 year old...they will get it right EVERY time...LOL

As far as I know, you do NOT need an indicator to do this. If a 5 year old can do this, I'm sure everyone of us is capable of doing it too lol.
indicators are historical instruments that very few people (the Big Fish as I call em), Why because they are too historical, too hard to understand, require other indicators to help prove one indicator is working and they are just plain difficult.

Simple, follow the trend and majority of your trades will be successful, chose whole numbers AKA Physcological areas, why best most people associate whole numbers as areas of S/R and check a 50% fib extension. If it falls close to a whole number or a trend line it could be added support for choosing a position.

Indicators are pretty to look at and may impress your friends. But tooooooo many people rely on them to give them ultimate entry and exit points...

Heres 1 for you. I started with close to 5000 in my account and used to use EMA's, Stocastics ect ect ect. My account got to as low as 1400. Since then I have traded jackos methods and my account is now close to 2000 and growing week by week. The simple things in life are often the best, this is one area where it seems to be all ways the best lol

Take care

Max
  • #3,531
  • Apr 28, 2008 8:06am Apr 28, 2008 8:06am
Quoting Matrixxdg


Pretty Basic, eh!
This can be a problem if you dont have any 5 year olds handy of course.
  • #3,532
  • Apr 28, 2008 8:09am Apr 28, 2008 8:09am
Quoting takeprofit
Positive move up recently. I hope the Bears got bored or gave up.

TP
Lets hope so. Would be nice to move up a little after a couple of days of bear activity. Not too worried if it doesnt. I only have a small position. I dont normally trade mondays but seeing as there is not much else to do I thought I would have a look at the charts and see what is happening.

No relevence to the this thread but I have a position on the GBP/JPY which is up about 50 pips, So if one keeps going and the other doesnt I may still end up in positive territory which is always a nice way to start the week
  • #3,533
  • Apr 28, 2008 8:16am Apr 28, 2008 8:16am
Quoting takeprofit
This can be a problem if you dont have any 5 year olds handy of course.
lol.

For those that struggle to see this... look at these two charts. One is weekly and the other is daily. I didn't even bother using candles or bars because I wanted to show how simple it is using a line chart.

If you need indicators to tell you the trend is up, then... I think you need to go back to basics. As in... start fresh, clear your charts of all the indicators and start looking at price.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd_weekly_linechart.gif Size: 7 KB
Click to Enlarge Name: eurusd_daily_linechart.gif Size: 8 KB
  • #3,534
  • Apr 28, 2008 8:16am Apr 28, 2008 8:16am
Quoting cruze2005
I dont normally trade mondays
I see a lot of comments from people saying they dont trade on Friday and now you say you dont normally trade on Monday. Thats a short week then.

TP
  • #3,535
  • Apr 28, 2008 8:16am Apr 28, 2008 8:16am
Wait... That is this "Trend" everyone is talking about???

...

J/k, SBrickman, to find the trend, you don't need to find indicators on google, just look at the chart and try to notice the overall direction it has travelled historically. In the case the EUR/USD, the pair started low and it has gradually risen to where it is now. So it is bullish.

BOOM! You should all pay me to be an indicator teling you the trend...
Live From Los Angeles
  • #3,536
  • Apr 28, 2008 8:19am Apr 28, 2008 8:19am
Quoting zoopy
lol.

For those that struggle to see this... look at these two charts. One is weekly and the other is daily. I didn't even bother using candles or bars because I wanted to show how simple it is using a line chart.

If you need indicators to tell you the trend is up, then... I think you need to go back to basics. As in... start fresh, clear your charts of all the indicators and start looking at price.
Zoopy

I figured out the trend is up. Dont worry I didn't 'borrow' any 5 year olds for this. We have been discussing trend a lot here. Everyone agrees it is up but last week everyone was saying wait and be patient because the trend is now down. I did find this a little confusing but I'm waiting patiently now for the general opinion here that the trend is now up again.

Thanks

TP
  • #3,537
  • Apr 28, 2008 8:30am Apr 28, 2008 8:30am
Quoting takeprofit
Zoopy

I figured out the trend is up. Dont worry I didn't 'borrow' any 5 year olds for this. We have been discussing trend a lot here. Everyone agrees it is up but last week everyone was saying wait and be patient because the trend is now down. I did find this a little confusing but I'm waiting patiently now for the general opinion here that the trend is now up again.

Thanks

TP
You probably found it confusing because of the drop we had but keep in mind the market moves in waves. Yes there will be drops along the way. The market never goes straight up or down which is why there will always be plenty of opportunities.

Mind you, even if the trend were to go down in the short term, the waves going up will still be large enough to make a decent amount of pips.
  • #3,538
  • Apr 28, 2008 8:31am Apr 28, 2008 8:31am
Quoting takeprofit
This can be a problem if you dont have any 5 year olds handy of course.
My exact thoughts.... My two daughters are grown... but I have a 4 YO grandson. I guess I'll have to wait a year to determine the trend.
  • #3,539
  • Apr 28, 2008 8:31am Apr 28, 2008 8:31am
Quoting B@by trader
can post the indicator+how you trade it I mean you only open position when all arrow same colour same direction or how?
Not my indicator to post(use google to find). I enter when the short term agrees with the long term. So if D1 is my long term, M1, M5, M15, M30, H1 must be green. Trading with the trend.
  • #3,540
  • Apr 28, 2008 8:34am Apr 28, 2008 8:34am
Quoting panhandler
Wait... That is this "Trend" everyone is talking about???

...

J/k, SBrickman, to find the trend, you don't need to find indicators on google, just look at the chart and try to notice the overall direction it has travelled historically. In the case the EUR/USD, the pair started low and it has gradually risen to where it is now. So it is bullish.

BOOM! You should all pay me to be an indicator teling you the trend...
I never said one needs an indicator. This indicator is just a tool that allows me to quickly see the trend on multiple time frames. IMHO, beats looking at multiple charts. You are using a computer but an old timer wouldn't need a computer to trade, he would say, "I don't need a computer, I can just look at the price".

Some people fight progress others embrace it.

http://i29.tinypic.com/2q1xr0i.gif

I also use HEAT to show the TREND based on price. Helps time the entry.
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