Jacko's Forex House of Pleasure and Pain | Page 204 | Forex Factory

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Jacko's Forex House of Pleasure and Pain

  • #4,061
  • Jun 9, 2008 8:12pm Jun 9, 2008 8:12pm
Hi all,

my buy order was hit @5600 100pips TSL (50% fib re) 8:21p.m. NY time

Now I will let this trade play it self out and hope it plays well

Good trades to all


TRADETHEPIPS
  • #4,062
  • Jun 9, 2008 8:18pm Jun 9, 2008 8:18pm
Quoting Tradethepips
Hi all,

my buy order was hit @5600 100pips TSL (50% fib re) 8:21p.m. NY time

Now I will let this trade play it self out and hope it plays well

Good trades to all


TRADETHEPIPS
I'm in also on the dip below 1.5600. Got in at 1.5577. TS set at 100 pips

Good luck with the trade.
  • #4,063
  • Edited Jun 10, 2008 12:12am Jun 9, 2008 10:19pm | Edited Jun 10, 2008 12:12am
Quoting Tradethepips
Now looking for a good entry, maybe this fall 80-100 pips to pick up some SL before tha next upswing and probably I enter there, but as a friend of us say....I COULD BE WWWWWRONG!
A buy limit order at 5700 with 50 TSL

TRADETHEPIPS

I have deleted this buy limit order (I was wwrong) and placed it at 50% fib re 5600. It was picked up later. If I am wrong now, at least I did respect the 50% entry area...so I did it.

I'm glad for not being stopped out that early. Now we are under the water but the snorkel is working ok.

I'll see

Good trades to all

TRADETHEPIPS
  • #4,064
  • Jun 10, 2008 12:21am Jun 10, 2008 12:21am
I have joined the EUR/USD longs at 1.5600. Recent high of 1.5618 has pulled my stop up to 1.5568.

1.5620 has been strong resistance and support the past several trips up and down, so we need a break. But if it doesn't break now, it will later when we are back on with an AH trade!

Glen
  • #4,065
  • Jun 10, 2008 2:47am Jun 10, 2008 2:47am
Quoting goldworkers
Me too!!

But, I think the EU will range a bit until Mister "B" speech tonight....
Will see...

I'm very happy to be here with all you people and with Jacko.
I'm growing in patience and profitability.

Good day to all.
goldworkers,,

nice to see u here!!
  • #4,066
  • Edited 4:36am Jun 10, 2008 4:19am | Edited 4:36am
Quoting prosperfx
I have joined the EUR/USD longs at 1.5600. Recent high of 1.5618 has pulled my stop up to 1.5568.

1.5620 has been strong resistance and support the past several trips up and down, so we need a break. But if it doesn't break now, it will later when we are back on with an AH trade!

Glen
I do not see the reason to LONG any time now....
RSI still below -50...I hope u have a proper MM in place!!

I SHORTED since 1.5626...
I use H4 TF..btw..

sonic
  • #4,067
  • Jun 10, 2008 4:37am Jun 10, 2008 4:37am
Quoting Tradethepips
I'm glad for not being stopped out that early. Now we are under the water but the snorkel is working ok.

I'll see

Good trades to all

TRADETHEPIPS
Yeah, snorkel is working just ok. But lets be cautious- Think I see a resistance forming @ 1.5830 (check from 2008/03/17 till date on the daily). Bernie is still the FED chief priest. If he says USD woes are over, he "may" be right. AH all the way. I wont place nothing till my point .5600 is picked up. If this current retracement goes anywhere close to 80% Im taking a spectators seat. What y'all think?
  • #4,068
  • Jun 10, 2008 5:41am Jun 10, 2008 5:41am
Quoting sonicdeejay
goldworkers,,

nice to see u here!!
Hey sonic me too!
  • #4,069
  • Jun 10, 2008 5:52am Jun 10, 2008 5:52am
Quoting BabeFX
Vips,

The market is being moved from high to low & low to high by participants awaiting the next relevant financial announcement.

Keep tuned into the forthcoming announcements by checking the daily announcments page on FF, pay special attention to any colored red or amber. Don't enter a new trade 2 hours before an announcement or earlier than 30mins after an announcement, then look to enter on a retracement in the direction of the breakout.

Take care, the US dollar can't go on losing value for ever.

Regards,

BabeFX.
Jackos strat guys, what does this have to do with anything Jacko says...Ive never heard Jacko talking about breakout trading...
Never say never.
  • #4,070
  • Jun 10, 2008 5:55am Jun 10, 2008 5:55am
Quoting sonicdeejay
I do not see the reason to LONG any time now....
RSI still below -50...I hope u have a proper MM in place!!

I SHORTED since 1.5626...
I use H4 TF..btw..

sonic
Come on guys, post in the eurusd thread if you have other strategies, Jackos strat is not about selling eurusd or news or breakouts...
Never say never.
  • #4,071
  • Jun 10, 2008 6:28am Jun 10, 2008 6:28am
Quoting razldazl
Come on guys, post in the eurusd thread if you have other strategies, Jackos strat is not about selling eurusd or news or breakouts...
OR indicators. Had to add that in
  • #4,072
  • Jun 10, 2008 6:35am Jun 10, 2008 6:35am
Lol, something I was intrigued about and the I get responses from people not even trading Jacko's method.

My order at 1.5550 was filled earlier today. I'm hoping the bottom end 1.400 - 1.300 will be a good support area and so this will provide me with a good AH trade around 1.5450 if I'm wrong now. I did see 1.5600 as a good entry level, but there seems to be so much volatility at the moment.

We'll wait and see... So far Trichet seems confident with Hawkish comments regarding a rate rise next month.
Jacko Turtle - 2nd Group
  • #4,073
  • Jun 10, 2008 7:07am Jun 10, 2008 7:07am
Quoting Vips
Lol, something I was intrigued about and the I get responses from people not even trading Jacko's method.

My order at 1.5550 was filled earlier today. I'm hoping the bottom end 1.400 - 1.300 will be a good support area and so this will provide me with a good AH trade around 1.5450 if I'm wrong now. I did see 1.5600 as a good entry level, but there seems to be so much volatility at the moment.

We'll wait and see... So far Trichet seems confident with Hawkish comments regarding a rate rise next month.
Yes, 1.5600 could easily have been a very nice entry, 50 fib, and various other factors...interesting comment posted on another thread I will put the link here http://www.forexfactory.com/showpost.php?p=2046815&postcount=9113 if you are interested, take care, Raz
Never say never.
  • #4,074
  • Jun 10, 2008 7:28am Jun 10, 2008 7:28am
Quoting razldazl
Come on guys, post in the eurusd thread if you have other strategies, Jackos strat is not about selling eurusd or news or breakouts...
Oops//sorry!!
  • #4,075
  • Jun 10, 2008 8:55am Jun 10, 2008 8:55am
Hello All!

This message is for the few of you participating in Jacko's private training group. I am hoping to be able to talk (or email) with a one or two of you. PM if you are willing.

Thanks!

Glen
  • #4,076
  • Edited 9:32am Jun 10, 2008 9:01am | Edited 9:32am
Quoting razldazl
Yes, 1.5600 could easily have been a very nice entry, 50 fib, and various other factors...interesting comment posted on another thread I will put the link here http://www.forexfactory.com/showpost.php?p=2046815&postcount=9113 if you are interested, take care, Raz

Hi to All!
I think that new trader should only read the posts from Jacko, Razdazl or MPP etc.......
Because I understand that if you read the whole thread that there are different understandings of Jackos strategie.
Why:
I read sometimes in the past "in the public forum" I let the price come to me ......... that's ok, but the price was at lets say 1.5000 and they said they will buy at 1.6000 when price comes to their entry point???????? From this sight it would be right, but it has nothing to do with Jackos methode of trading.
Here an example: If you want to buy a car and the seller ´want to have 40.000.-, what do you answer? No I let the price come to me, because my goal is 45.000.-- ????????????? Or do you try to pay less than 40.000.--?
I know it is simple, but easy to understand. See it as a business, because in every business we try to buy cheap and sell at a higher price. Why do some people change that simple rule in FX??????

Regards Erkro
  • #4,077
  • Jun 10, 2008 9:39am Jun 10, 2008 9:39am
Quoting erkro
Hi to All!
I think that new trader should only read the posts from Jacko, Razdazl or MPP etc.......
Because I understand that if you read the whole thread that there are different understandings of Jackos strategie.
Why:
I read sometimes in the past "in the public forum" I let the price come to me ......... that's ok, but the price was at lets say 1.5000 and they said they will buy at 1.6000 when price comes to their entry point???????? From this sight it would be right, but it has nothing to do with Jackos methode of trading.
Here an example: If you want to buy a car and the seller ´want to have 40.000.-, what do you answer? No I let the price come to me, because my goal is 45.000.-- ????????????? Or do you try to pay less than 40.000.--?
I know it is simple, but easy to understand. See it as a business, because in every business we try to buy cheap and sell at a higher price. Why do some people change that simple rule in FX??????

Regards Erkro
Good call. I just want to point out the analogy with a car is not good because it is a depreciating asset most of the time.

How about housing. Would you buy a house if you know it is in a downward spiral?

Or would you wait for the uptrend to resume?

That's why it makes sense. You are going in with the trend. That's worth the $5,000 difference in your example. Because you would be making many times $5,000 from there after.

Fundamentally speaking Bernanke did sound very hawkish and trend may reverse. But it takes awhile for that to happen in reality, plus the interest difference is still in Euro's favor. Why would people go against the trend before it's confirmed and against the interest rate is beyond me.

I personally believe there will be another run up before it starts going down for good...
  • #4,078
  • Edited 10:13am Jun 10, 2008 9:56am | Edited 10:13am
Quoting charlinks
Good call. I just want to point out the analogy with a car is not good because it is a depreciating asset most of the time.

How about housing. Would you buy a house if you know it is in a downward spiral?

Or would you wait for the uptrend to resume?

That's why it makes sense. You are going in with the trend. That's worth the $5,000 difference in your example. Because you would be making many times $5,000 from there after.

Fundamentally speaking Bernanke did sound very hawkish and trend may reverse. But it takes awhile for that to happen in reality, plus the interest difference is still in Euro's favor. Why would people go against the trend before it's confirmed and against the interest rate is beyond me.

I personally believe there will be another run up before it starts going down for good...
Hi Charlinks!

I must laugh about your message, because I thought before I wrote my message: Should I take a car or should I take a house.
But you are right a house is a better example, because it is a depreciating asset like you wrote in your message.
I only wanted to make clear, that the definiton about let the price come to me should not go in the wrong direction.

Erkro
  • #4,079
  • Edited 10:31am Jun 10, 2008 10:28am | Edited 10:31am
Quoting razldazl
Come on guys, post in the eurusd thread if you have other strategies, Jackos strat is not about selling eurusd or news or breakouts...

Really Sorry. gained so much from this thread will hate to mess it up for others. Lets keep the thread clean.

Shadowninja thanks for pointing me here.
Jacko, you are the beginner's best friend.
Thanks
  • #4,080
  • Jun 10, 2008 11:04am Jun 10, 2008 11:04am
Quoting Tradethepips
I have deleted this buy limit order (I was wwrong) and placed it at 50% fib re 5600. It was picked up later. If I am wrong now, at least I did respect the 50% entry area...so I did it.

I'm glad for not being stopped out that early. Now we are under the water but the snorkel is working ok.

I'll see

Good trades to all

TRADETHEPIPS
I was stopped out damn it, I was wwrong, but, at least I did respect my strategy, this fell more than expected. Ok, my risk management allows me to pass thru these kind of crashes!!! I am OK, take this by the chin and look forward for the next opportunity to buy on the dips.

About the AH, this a little change I have implemented, no AH before it falls at least 70+ pips

ggggrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr gggggggggggggggrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr

I don't have a cat to kick What do you recommend? LOL


Looking fordward......

Good trades to all

TRADETHEPIPS
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