DislikedStoragePro,
Fair enough. But I was only trying to point out the obvious. Help is what I intended, not offense. My bad. Taking notice of Support and Resistance can only help though. I could post several trades taken by Jacko and the group since spring time that failed due to this lack of knowledge. Straight into resistance and contrary to PA. But as you say, it won't matter here.
I understand that you are trying to help. That is why we are here... looking for help, and trying to help others.
I do understand about support and resistance, and I believe that this concept may be the single most important concept in trading. The problem arises when different traders look at the same charts. I have a strong level of support at 1.5668 and 1.5670, based on my trading methodology. I also have two valid long entry signals based on my trading methodology, one on the 3rd, and one on the 4th, as well as the AH trade from Jacko's method.
In contrast to that, though, I made a significant breakthrough in my trading method this weekend. This new approach to picking entries would have kept me out of a significant number of my losing trades this year, and would have nullified the two long signals that formed on the 3rd and 4th!! So, in that respect I do agree that now might not be the time to go long.
Another aspect of my trading, which I think has contributed greatly to my success this year is my study of Chaos Mathematics. In short, Chaos teaches us that regardless of the signals generated by the charts, even if they are identical to previously formed signals, the outcome of each and every trade is random. It is only in the long term that a pattern starts to form. This is basically the theory of the 'Strange Attractor'. Over the long term a trader that has a strategy that is profitable will make money.
Jacko has a very simple and proven method of trading. It may go counter to other trading methods, but has been proven over the long term to make money.
I am here to learn from Jacko about his trading method.
I do not disregard PA or S/R. I also invite all contributions to this discussion but I do feel as though your post was a bit sanctimonious.
I hope that I don't sound too arrogant. You obviously have a lot to contribute to this thread, just try not to take too much away from Jacko's method. He is obviously a GREAT trader, even though he makes losing trades from time to time.
Good trading.
James
Ignored
Strange attractor?
WTF?
Sometimes I feel so stupid - but I leave my little brain at the door.
And I still make money!
Please don't over-complicate things - it ain't rocket science.
.
