I'm not sure how many people had a stop hit for a loss during the reaction to the NFP report. My stop got hit for a loss.
Now I have a chance to try the AH strategy.
James
Now I have a chance to try the AH strategy.
James
Chicky's House of Pleasure and Pain 11 replies
Carry Backet w/ Jacko's AH 10 replies
Hello Guys is a pleasure to be here. I'm new to MT4 1 reply
Jacko's P&P Trend Trading Method 73 replies
DislikedNewbie here.
Many of you speak of using a buy limit order to get into a trade (long). This means that your broker will buy the currency if the price is at your limit level or below.
Thus you are trying to catch a retracement on the way down. But you don't know how long it will go down.
Wouldn't it be better to let the market come up to you by using a buy stop at a level which demonstrates that the market has finished its retracement and is coming back up?
To me it's a matter of insurance. If I lose the few pips (waiting for the market to come back up, hopefully indicating that the retracement is completing) then I will be more likely up than down.
But I may be wwwwwrong.
By the way, I'm off to the bank to send a money transfer to join Jacko's group (I'm in Canada, so the banks are open).
BarryPipsIgnored
DislikedThus you are trying to catch a retracement on the way down. But you don't know how long it will go down.
Wouldn't it be better to let the market come up to you by using a buy stop at a level which demonstrates that the market has finished its retracement and is coming back up?Ignored
DislikedSo, the price goes in my direction 50 pips before reversing and hitting my stop at 1.4950, for a loss of 50 pips. As the price continues down it hits 1.4900, 50 pips below my stop, and I enter a limit order at 1.4950 to buy on the way back up.
A few days later my order gets triggered at 1.4950.Ignored
QuoteDislikedDo I use the same 100 pip TSL?
Yes.
Do I set a TP at +50 so I re-coup my losses?
No. The AH is partially for recouping your loss, but it's also for getting you back in with the direction of the trend, ride it until your TSL gets you out.
What if the result of the trade is +10 pips, is this a successful AH trade?
Yes, if that's where your TSL got you out.
DislikedWell ehsan,
Do you want to stop?
If not then I would find a broker that let you trade micro lots... ie.. a dime or penny a pip. So you dont blow away your account.
If you can stop, and think about getting another kind of rush... the rush of viewing the market in the longer term, placing strategic trades, having some kind of a safety net, using the fundamentals, being strategic about the News, ....... then I would have to say you have posted on a thread to find all of that.
It can be a matter of playing chess vs a video game.Ignored
DislikedHi ya Lou,
Hoping you could help, where you say 'being strategic about the news' I was wondering how you trade Jacko's system at news time if you have a trade on or want to make a trade?
If anyone else can give advice on this it would be much appreciated
Thank you,
AdrianIgnored
DislikedNewbie here.
Many of you speak of using a buy limit order to get into a trade (long). This means that your broker will buy the currency if the price is at your limit level or below.
Thus you are trying to catch a retracement on the way down. But you don't know how long it will go down.
Wouldn't it be better to let the market come up to you by using a buy stop at a level which demonstrates that the market has finished its retracement and is coming back up?
To me it's a matter of insurance. If I lose the few pips (waiting for the market to come back up, hopefully indicating that the retracement is completing) then I will be more likely up than down.
But I may be wwwwwrong.
By the way, I'm off to the bank to send a money transfer to join Jacko's group (I'm in Canada, so the banks are open).
BarryPipsIgnored
DislikedOne of the members asked, if it is advisable to trade during the news times and Jacko replied, that yes, as long as you don't trade THE news - meaning in and out in less than 5 minutes.Ignored
Disliked
Help a novice out.?PHP CodeWhat do you guys see that I don't
thanks
We see the members blog, welcome bjohn34. After reading the blog, any matured and serious trader will understand at least a little on how someone who trades big think.
See the trade history... ... and thoughts.
I must say, what an eye opener Jacko is. There is so much to learn just by reading the emails questions from smart traders and answer from the veteran. I definitely am humbled by Mr and Mrs Jacko (He is the real deal, trading his own money). If after reading once through and you have questions, i recommend reading again.
Ignored
DislikedI am long with an AH trade at 1.5705.
At least I think I am long, my broker was closed when the price went up to 1.5709, so I am not sure how they are going to handle my limit order. We'll see on Sun night.
JamesIgnored
DislikedI just do not get it. Why on God's green earth would anyone go long? The July 3 bar is a magnificent example of a BEOB or bearish outside bar. It happened right smack on top of resistance, and the thing screams SHORT!
I suspect a gain of around 300 pips on this. There is support at 1.5350.
People - it is fine to attempt to apply Jackos method, but to do so blindly in the face of market price action that runs counter to your trade is a fast way to lose your shirt. Especially so if you do not have storng money management skill.
Sheesh.Ignored
DislikedI just do not get it. Why on God's green earth would anyone go long? The July 3 bar is a magnificent example of a BEOB or bearish outside bar. It happened right smack on top of resistance, and the thing screams SHORT!
I suspect a gain of around 300 pips on this. There is support at 1.5350.
People - it is fine to attempt to apply Jackos method, but to do so blindly in the face of market price action that runs counter to your trade is a fast way to lose your shirt. Especially so if you do not have storng money management skill.
Sheesh.Ignored
Disliked...However, The monthly PA is showing a DLHC. My reason for building longs from 1.5800.Ignored
DislikedIf your trading off monthly charts, you're expected to close your trades on monthly as well. Will you keep them that long....?Ignored
DislikedGood day all.
I've been reading this thread since post number one page number one and i'm currently at page number 92 - less than halfway through - after 4 freaking days!
.Ignored