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zoopy's trading journal

  • #1,341
  • Jun 25, 2008 7:28pm Jun 25, 2008 7:28pm
Quoting sonicdeejay
Roger that..zoopy!!
ADX is still too low,that show the votality!!!
Moreover I will wait for the price to break above 1.57xx region for clearer direction... sonic
My analysis...

Direction = up (wave broke to upside)
Areas I have no problem buying at...
1.5650
1.5600
1.5550
1.5500

I'll be waiting for 4:00am NY to see what happens.
  • #1,342
  • Jun 25, 2008 8:30pm Jun 25, 2008 8:30pm
Quoting zoopy
My analysis...

Direction = up (wave broke to upside)
Areas I have no problem buying at...
1.5650
1.5600
1.5550
1.5500

I'll be waiting for 4:00am NY to see what happens.
Nice number!! Jacko syle??

care to xplain more abt it??

sonic
  • #1,343
  • Jun 25, 2008 9:33pm Jun 25, 2008 9:33pm
Quoting sonicdeejay
Nice number!! Jacko syle??

care to xplain more abt it??

sonic
Sonic

Not sure if you've read the earlier parts in my journal where I stated that the entire wave approach is based on Jacko's method. Some may argue that it has nothing to do with his method but if you look at it very carefully you'll understand where I'm going with this.

Here is the explanation...
With Jacko's method, it's all about following the trend. How do you define the trend? You could use the way he described by looking at where price starts and ends on your chart or... you could use trendlines. I define trend based on waves. Waves going up simply means higher highs/lows, waves going down creates lower highs/lows.

Now that I have determined the direction of the waves, I know which way to trade in (keep in mind I'm using a 4 hour chart). Because I know the direction, it also means I have the Anti Hedge at my disposal (remember, the AH works only when you're trading in the right direction). Jacko enters at trendlines, support, 50.0% fib retracements and round numbers. Since I don't use those, I wait for pullbacks (most of the time pullbacks retrace back to the 50.0% fib retracement) and enter when price turns around or I will look at round numbers for entry.

So what makes waves so special? If I was to buy in a bullish market and my trade failed, I would place the AH which is how I trade Jacko's method. Lets say the AH failed because the market dropped. Now... most trading Jacko's method would look for the 50.0% fib retracement, support levels or trendlines. I don't do that because what you're essentially doing is buying when the market is going down. Instead, what I do is wait for waves to break higher FIRST then I start buying. What this effectively does is limits my losses. I won't have all my AH trades lined up but will instead be buying again once the market has bottomed out.

Hope this helps.
  • #1,344
  • Jun 26, 2008 12:24am Jun 26, 2008 12:24am
Quoting zoopy
Jacko enters at trendlines, support, 50.0% fib retracements and round numbers. Since I don't use those, I wait for pullbacks (most of the time pullbacks retrace back to the 50.0% fib retracement) and enter when price turns around or I will look at round numbers for entry.

Wanna know how do u draw/define 50% fib??
can post t pic??

thx alot
sonic
  • #1,345
  • Jun 26, 2008 2:19am Jun 26, 2008 2:19am
I just wanted to add to others, that zoopy is trading Jacko's method. It's just in a little different perspective. I even like it better than original Jacko method. The basic reason for that probably is that I can connect with this method better than orginal Jacko's and the reason I can't connect with Jackos as well is because I probably do not fully understand it. However zoopys way gives me alot less confusion about direction and when and how the triger is have to be pulled.
  • #1,346
  • Jun 26, 2008 4:30am Jun 26, 2008 4:30am
Quoting sonicdeejay
Wanna know how do u draw/define 50% fib??
can post t pic??

thx alot
sonic
Hi Sonic

Not sure if you're asking me how to draw the 50.0% fib retracement? When you draw the 50.0%, you use the swing high and swing low (tops and bottoms of waves). I've attached both a line and bar chart showing this.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 50_linechart.gif Size: 12 KB
Click to Enlarge Name: 50_bar.gif Size: 15 KB
  • #1,347
  • Jun 26, 2008 4:45am Jun 26, 2008 4:45am
Quoting kaunasny
I just wanted to add to others, that zoopy is trading Jacko's method. It's just in a little different perspective. I even like it better than original Jacko method. The basic reason for that probably is that I can connect with this method better than orginal Jacko's and the reason I can't connect with Jackos as well is because I probably do not fully understand it. However zoopys way gives me alot less confusion about direction and when and how the triger is have to be pulled.
Yup, it's Jacko's method and he deserves all the credit. I just use the waves to help guide me. See... if you know which direction to trade in and you apply Jacko's method, it really doesn't matter if you're in a ranging market or trending (keep in mind if we were trading weekly charts, in a ranging market there's going to be lots of 4 hour waves).

Something else that I also learn't more about was that with trendlines, they quite often "lag" because you're trying to show the progression of price. Think of it this way... you're using a tool and drawing lines diagonally to determine when price changes. Price moves up and down, not diagonally. Therefore waves should detect that change quicker since trend change is based on whether waves break "up or down".
  • #1,348
  • Edited 9:12am Jun 26, 2008 6:18am | Edited 9:12am
Eurusd broke another wave to the upside and this will be confirmed at the end of this hour.

Edit: Gone long on eurusd. Knocked out at breakeven. Looking at 1.5690 to go long again.

Edit: Missed entry... oh well. There's always next time

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_wavebreak.gif Size: 10 KB
  • #1,349
  • Jun 26, 2008 7:57am Jun 26, 2008 7:57am
I missed that pullback on the EU to get in long again, will wait for the next one. I wonder if we are going to get another spike up when the Home Sales news comes out..
  • #1,350
  • Jun 26, 2008 8:00am Jun 26, 2008 8:00am
Quoting zoopy
Eurusd broke another wave to the upside and this will be confirmed at the end of this hour.

Edit: Gone long on eurusd. Knocked out at breakeven. Looking at 1.5690 to go long again.
Why 5690 and not 5700?
  • #1,351
  • Jun 26, 2008 8:03am Jun 26, 2008 8:03am
Quoting greywolf238
Why 5690 and not 5700?
lol. You spotted that quickly. I'm testing out something having to do with order flow and where the banks have their orders waiting
  • #1,352
  • Jun 26, 2008 8:05am Jun 26, 2008 8:05am
Quoting greywolf238
I missed that pullback on the EU to get in long again, will wait for the next one. I wonder if we are going to get another spike up when the Home Sales news comes out..
I didn't get the eurusd since I was focusing on usdchf lastnight. That trade is closed though and managed to get +75 pips. That trade was also based on order flow... 1st trade testing this stuff out to see how I can utilize it with waves for better entries.
  • #1,353
  • Jun 26, 2008 8:50am Jun 26, 2008 8:50am
Quoting zoopy
Hi Sonic

Not sure if you're asking me how to draw the 50.0% fib retracement? When you draw the 50.0%, you use the swing high and swing low (tops and bottoms of waves). I've attached both a line and bar chart showing this.


care to share the indi??

I do not know how to put fibo in t graph!!

sonic
  • #1,354
  • Jun 26, 2008 9:02am Jun 26, 2008 9:02am
Quoting sonicdeejay
care to share the indi??

I do not know how to put fibo in t graph!!

sonic
I don't use indicators. This is where the Fibonacci retracement tool is located.
Attached Image
  • #1,355
  • Jun 26, 2008 9:26am Jun 26, 2008 9:26am
Hmm.. another positive week in a row for me. Is this because I applied waves into my trading or is this because we started trending up again?

I just closed 100+ pips trade on eur/usd exiting at 1.5720 , looked like it wanted to head down and moving up now again.. we'll see how far it will go

I'm done for this week and will look for pullback next week to enter long again. Possibly in 1.5650's

Intrestingly I was unable to enter succesfully following waves on Jacko's buy signal, entering long way later and way higher price than Jacko and even exited at a loss.
Thought next day when Jacko was looking for 1.5500 and did not get it I entered on waves and that trade made my week, and infact was one of the best trades in a long while.
  • #1,356
  • Jun 26, 2008 9:49am Jun 26, 2008 9:49am
Quoting kaunasny
Hmm.. another positive week in a row for me. Is this because I applied waves into my trading or is this because we started trending up again?

I just closed 100+ pips trade on eur/usd exiting at 1.5720 , looked like it wanted to head down and moving up now again.. we'll see how far it will go

I'm done for this week and will look for pullback next week to enter long again. Possibly in 1.5650's

Intrestingly I was unable to enter succesfully following waves on Jacko's buy signal, entering long way later and way higher price than Jacko and even exited at a loss.
Thought next day when Jacko was looking for 1.5500 and did not get it I entered on waves and that trade made my week, and infact was one of the best trades in a long while.
Nice trading Kaunasny. Hey im sure even Jacko is wrong some of the time.
  • #1,357
  • Jun 26, 2008 9:58am Jun 26, 2008 9:58am
Thanks

Yes even Jacko is sometimes wrong. Thought in this case he wasn't. He had a great trade earlier this week. And his calls were insane and very accurate. Funny part was that I lost on Jacko trade and I made a killing on my own .
  • #1,358
  • Jun 26, 2008 10:09am Jun 26, 2008 10:09am
Quoting kaunasny
Hmm.. another positive week in a row for me. Is this because I applied waves into my trading or is this because we started trending up again?

I just closed 100+ pips trade on eur/usd exiting at 1.5720 , looked like it wanted to head down and moving up now again.. we'll see how far it will go

I'm done for this week and will look for pullback next week to enter long again. Possibly in 1.5650's

Intrestingly I was unable to enter succesfully following waves on Jacko's buy signal, entering long way later and way higher price than Jacko and even exited at a loss.
Thought next day when Jacko was looking for 1.5500 and did not get it I entered on waves and that trade made my week, and infact was one of the best trades in a long while.
And not too long ago you were questioning me on whether it worked or not lol. I think things are just "clicking" for you and falling into place, you'll find it easier now because you'll know what to look for.

Happy trading and congrats on your trade
  • #1,359
  • Jun 26, 2008 10:20am Jun 26, 2008 10:20am
What do you think guys, good time to go long on E/GB looks like a pullback on the H4 chart, and it may be heading back up.
Attached Image (click to enlarge)
Click to Enlarge Name: egh4.gif Size: 20 KB
  • #1,360
  • Jun 26, 2008 10:22am Jun 26, 2008 10:22am
Quoting greywolf238
What do you think guys, good time to go long on E/GB looks like a pullback on the H4 chart, and it may be heading back up.
Seems good. I would buy if I was trading it.
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