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Trading Aussie Jacko Style

  • #141
  • Jul 2, 2008 10:07am Jul 2, 2008 10:07am
Quoting razldazl
You could very well be right, it was really my original idea to buy in lower closer to my lower trendlines...anyway small position, funny this pair keeps surprising me, I think my entries are bad and I still manage to come out with pips somehow
update out on break below 9535, -15, so if we get to 0.9490 my AH will be triggered
boy was I wronggggg on that chart....LOL
Same Whore .... Different Dress
  • #142
  • Jul 2, 2008 2:37pm Jul 2, 2008 2:37pm
Quoting againgabriel
this pair rocks!!! I'm more than +100 pips, and counting, don't know how, I am so new in this stuff, but with the few I know, AUDUSD has a very different behavior, its smooth movement and its slight and permanent-relative uptrend for maybe 5 or 6 years allows you to feel comfortable going long for medium-term, receiving swap interest and selling at good prices after one or two weeks...

-Now I wonder whats the best price to place the stop loss.

-Also I wonder if it is the pair great or you, coz you were the one who told me where I should buy.Also I have a one week old position that was in loss mode (bought at 0.970) and now is in profit.

thanks
WEll stop loss I would have under the support which is around 0.9620...I am going to watch and see if I can get in below that although I dont know if we wont go straight up. Ive been out a lot the last few days so I have missed all the upmove on aussie and eur so this is what I look like when I look at the charts.
Well dont give me a lot of credit, this pair seems to trade all by itself to be honest...lets see if I can get in somewhere before we get to par...take care, Raz
Never say never.
  • #143
  • Jul 2, 2008 2:38pm Jul 2, 2008 2:38pm
Quoting johnedoe
boy was I wronggggg on that chart....LOL
Make that WE were wrong on that chart...
Never say never.
  • #144
  • Jul 2, 2008 3:05pm Jul 2, 2008 3:05pm
Right,
so looking at the 4hr chart we have had an exhaustion spike and we have broken that (steep) trendline. So I expect it to drop from here. Maybe lower than 0.9500 this time...lets see
Attached Image (click to enlarge)
Click to Enlarge Name: aussie 4hr.gif Size: 19 KB
Never say never.
  • #145
  • Jul 2, 2008 11:51pm Jul 2, 2008 11:51pm
Yep, maybe you are right, we are in the highest-in-history price, no wonder if it goes down, anyway, today there will be some usd (bad) heavy news I think.

I have two positions, one of them I will place a tight stop loss, with some profit, the second one bought (at 0.9504)ten days ago is already part of me, like a son...So I keep it.
  • #146
  • Jul 3, 2008 8:14am Jul 3, 2008 8:14am
we have dropped to the 50 fib, but Im not buying in until eurusd stops dropping. Still targeting the 0.9500 area, lets see...Raz
Never say never.
  • #147
  • Jul 3, 2008 12:05pm Jul 3, 2008 12:05pm
Quoting razldazl
we have dropped to the 50 fib, but Im not buying in until eurusd stops dropping. Still targeting the 0.9500 area, lets see...Raz
next week maybe it goes down further, don't know.
  • #148
  • Jul 3, 2008 4:38pm Jul 3, 2008 4:38pm
I went long at .96, SL 9580, TP open
Attached Image (click to enlarge)
Click to Enlarge Name: Picture 35.png Size: 17 KB
  • #149
  • Edited 8:17am Jul 4, 2008 1:19am | Edited 8:17am
Quoting Clouds
I went long at .96, SL 9580, TP open
Attachment
I have an AH at 0.9635, since we dropped to 0.9580...so I will leave that to play out if we hit it

In at 0.9635, sl 0.9690
Never say never.
  • #150
  • Jul 4, 2008 11:57am Jul 4, 2008 11:57am
June closed with 202 pips

July so far -15, on a buy from 0.9650 closed at 0.9635, and our AH on that trade has been triggered at 0.9635, sl 0.9590
Never say never.
  • #151
  • Jul 6, 2008 1:51pm Jul 6, 2008 1:51pm
I don't know, my broker, as more time my position is open, not only gives me the roll over interest, the profit after a week a trade is open is like 10 pips more than the amount it suppose to give. so maybe is a good idea to keep the trades open(those with positive rollovers).
  • #152
  • Jul 6, 2008 3:13pm Jul 6, 2008 3:13pm
Yep well our objective is to stay in the market as long as possible and to give back as little as possible, I will have to watch and decide if my 45 tsl is the way to go. So far Im happy with the results though, but will keep an open mind to alternatives...
Never say never.
  • #153
  • Jul 6, 2008 9:18pm Jul 6, 2008 9:18pm
Quoting razldazl
~~ but will keep an open mind to alternatives...
What about Waterflame's "3 ema cross of an 34 sma?

Part of a different method I know, however it's still a gem. Please do not think of this as trading an ma crossover, although I can see why some would and the idea may not be tolerated on Jacko's thread.

However at the moment you see posts re entering on whole numbers, asking which one. Or on a fib retracements, but again which one? What about a 50% here and there and so on. The idea is to enter after a meaningful retracement is it not. Well the above mentioned crossover happens after such an event.

So -- wait for a 3 ema / 34 sma crossover in the direction of the long term trend. This is the train you want to get aboard. When it goes passed a whole number, jump on. If fibs your thing, yep jump on as it goes past your favourite fib. (If you happen to see a "dibs" or two along the way, why not, just so long as the crossover stayed in tact.)

If anyone is interested in this I would suggest there can be 3 instances of this crossover:
1/. the 34 sma is inclined in the direction of the longr term trend.
2/. the 34 sma is relatively flat
3/. the 34 sma is inclined against the longer term trend.

Rule 1. - Only take the first two.
Rule 2. - If the crossover is caused by a wide ranging bar, wait for the response to this bar to confirm the crossover.

Where to place the stop, as per your entry plan, but then trail it on the 34 sma.

Just a thought or two, as I need to keep it simple.
Good Trading
  • #154
  • Jul 7, 2008 1:44am Jul 7, 2008 1:44am
Will have a look at that, its more like another filter to use before getting in really.

Update, knocked out -41 on that AH, so that trade is done, finished
So -56 so far this month
Never say never.
  • #155
  • Jul 7, 2008 1:47am Jul 7, 2008 1:47am
Quoting razldazl
Will have a look at that, its more like another filter to use before getting in really.

Update, knocked out -41 on that AH, so that trade is done, finished
So -56 so far this month
what's AH?
  • #156
  • Jul 7, 2008 1:51am Jul 7, 2008 1:51am
i'll try long aud/jpy 103, s/l 102.9
  • #157
  • Jul 7, 2008 2:47am Jul 7, 2008 2:47am
Quoting Clouds
what's AH?
AH is what Jacko calls an anti hedging trade. So you get knocked out on trade 1 as I did at 0.9635, I wait until the market goes against me another 50 pips so 0.9585, and when the market goes back to 0.9635 I reenter long. That way, once the trend is reinstated you are in and recuperate your losses..
Never say never.
  • #158
  • Jul 7, 2008 7:16am Jul 7, 2008 7:16am
Good idea raz, i was also thinking about trading this pair jacko style, im glad you started this thread.
Does anyone have a buy in at 9550, or do you think it will go lower.
Nick
  • #159
  • Jul 7, 2008 7:38am Jul 7, 2008 7:38am
Quoting 555ngone
Good idea raz, i was also thinking about trading this pair jacko style, im glad you started this thread.
Does anyone have a buy in at 9550, or do you think it will go lower.
Im thinking wait to see where it bottoms out, I think it will drop below 0.9500,but lets wait and see. Im in no hurry to rush back in just yet, take care, Raz
Never say never.
  • #160
  • Edited Jul 9, 2008 1:50am Jul 8, 2008 9:43am | Edited Jul 9, 2008 1:50am
WEll I was waiting for 0.9500 and it didnt hit so I just got in at 0.9515, sl 9470. Well actually sl is 0.9482 now since we have moved up 12 pips since I got in, take care Raz

update 1, market has moved up to high of 0.9543, so my 45 tsl has been moved to 0.9498, risk is 17 pips now

update 2 knocked out at 0.9498, -17, market has to drop to 0.9448 to trigger an AH trade at 0.9498 again.
Never say never.
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