Jacko's Forex House of Pleasure and Pain | Page 235 | Forex Factory

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Jacko's Forex House of Pleasure and Pain

  • #4,681
  • Jul 21, 2008 5:08am Jul 21, 2008 5:08am
Trade still running from last week at 1.5800. S/L adjusted to 1.5808.....slow going at the moment but I'm in a free trade now.
  • #4,682
  • Jul 21, 2008 8:27am Jul 21, 2008 8:27am
Quoting tehuringa
Trade still running from last week at 1.5800. S/L adjusted to 1.5808.....slow going at the moment but I'm in a free trade now.
hi tehuringa .. just a question on your trade .. If you bought at 1.58 and todays high was 1.5907, on my feed, wouldn't your stop loss been triggered as the price went down 50 pips from there, according do jacko rules ??

I'm just getting in this kind of trading style ... i had a buy at 1.5850 with the s/l at 50 pips and been trailing it ... so when price corrected today i got out at 1.5857 for 7 pips profit (i really think its not bad even if 7 pips is little profit but i didn't suffer stress) ... however hope you good trading.

giuseppe
  • #4,683
  • Jul 21, 2008 10:31am Jul 21, 2008 10:31am
Quoting giusepp8
hi tehuringa .. just a question on your trade .. If you bought at 1.58 and todays high was 1.5907, on my feed, wouldn't your stop loss been triggered as the price went down 50 pips from there, according do jacko rules ??

I'm just getting in this kind of trading style ... i had a buy at 1.5850 with the s/l at 50 pips and been trailing it ... so when price corrected today i got out at 1.5857 for 7 pips profit (i really think its not bad even if 7 pips is little profit but i didn't suffer stress) ... however hope you good trading.

giuseppe

Jacko uses a 100 pip TSL..


hope this helps.

generalz
  • #4,684
  • Jul 21, 2008 10:58am Jul 21, 2008 10:58am
Quoting generalz
Jacko uses a 100 pip TSL..


hope this helps.

generalz

Thanks Generalz now it's clear !
  • #4,685
  • Jul 21, 2008 11:04am Jul 21, 2008 11:04am
Quoting dengzhi
yea i have had this happen many times too, Oanda hunts my stop loss, the price does not drop another 50 pips, instead it goes back up. in these cases AH does not work.
Hello dengzhi,

I have been wondering over the last 7 days if what you say is true. However I place orders on O but do most of my charting on a metatrader platform. The prices moved the same on each.

If the market movers... big dogs.... big money .... are indeed hunting stops, I would say that they know where the crowd is putting them.

Think about it in terms of Jacko's methods. We are the crowd and we are using the '00' numbers, the 50% pivot and maybe some trendlines and maybe the '50' numbers because according to Jacko's method that is what the big dogs .. big money and market movers use. So, they know where we live because they live there too. But they can move the market and we cannot.

Dengzhi, If you think it really is O that hunts your stops then look into something called fxspyder. It hides your orders from your broker. You place your order through fxspyder and they keep it from showing up on the O order board. Then they apply it when price triggers your order, TP or SL. If your order is triggered, your TP and SL are not revealed. They charge a fee for this.

Just my take on stop hunting.


Lou
  • #4,686
  • Jul 21, 2008 4:08pm Jul 21, 2008 4:08pm
Quoting giusepp8
Thanks Generalz now it's clear !
Hi Giuseppe,

Generalz is spot on....the TSL was moved to 100 pips due to volatility.

Trade from 1.5800 last week still playing out...SL now moved to 1.5830
  • #4,687
  • Jul 21, 2008 4:35pm Jul 21, 2008 4:35pm
Got in on ny close at 1.59 .. currently up 30 pips so s/p trailed to 5830 ....
Now lets see if this 1.59 is goig to turn ina tough support such as 1.58 ...
  • #4,688
  • Jul 22, 2008 6:42am Jul 22, 2008 6:42am
Quoting tehuringa
Hi Giuseppe,

Generalz is spot on....the TSL was moved to 100 pips due to volatility.

Trade from 1.5800 last week still playing out...SL now moved to 1.5830
Still ticking along.....SL adjusted to 1.5845

  • #4,689
  • Jul 22, 2008 9:38am Jul 22, 2008 9:38am
S/L hit at 1.5845 .. loss -55 pips.
So if I got it right I should wait a 100 pip correction from the S/L for AH activation? ...
However we are seeing usd strenght on almost all usd crosses even if today bad figures came out with news ... what does this mean ???
Anybody thinking of buying again 1.58 ??? it would be a nice 150 pip correction from last high... who knows!!?? .. let's see where price will close .
  • #4,690
  • Jul 22, 2008 9:49am Jul 22, 2008 9:49am
Quoting giusepp8
S/L hit at 1.5845 .. loss -55 pips.
So if I got it right I should wait a 100 pip correction from the S/L for AH activation? ...
However we are seeing usd strenght on almost all usd crosses even if today bad figures came out with news ... what does this mean ???
Anybody thinking of buying again 1.58 ??? it would be a nice 150 pip correction from last high... who knows!!?? .. let's see where price will close .
I think there is room to go lower. 50% pivot from July 7 low to July 15 high is 1.5824 .. I am waiting to see some leveling off at least on the hourly, but better on the 3 or 4 hr. above or around that pivot.
  • #4,691
  • Jul 22, 2008 9:49am Jul 22, 2008 9:49am
Quoting giusepp8
S/L hit at 1.5845 .. loss -55 pips.
So if I got it right I should wait a 100 pip correction from the S/L for AH activation? ...
However we are seeing usd strenght on almost all usd crosses even if today bad figures came out with news ... what does this mean ???
Anybody thinking of buying again 1.58 ??? it would be a nice 150 pip correction from last high... who knows!!?? .. let's see where price will close .
You need to let it go 50 + pips past your SL, then when the market comes back, you put your AH order at the same place you were stopped out at.
  • #4,692
  • Jul 22, 2008 10:09am Jul 22, 2008 10:09am
Quoting greywolf238
You need to let it go 50 + pips past your SL, then when the market comes back, you put your AH order at the same place you were stopped out at.
got it !
  • #4,693
  • Jul 22, 2008 10:34am Jul 22, 2008 10:34am
Quoting giusepp8
...
Anybody thinking of buying again 1.58 ??? ...
I'm long at 1.58. Good trading to all.
  • #4,694
  • Jul 22, 2008 11:01am Jul 22, 2008 11:01am
Recently stopped out for +45 pips from a trade from the 17th.

Waited for a discounted price below 1.5800 and ended up getting back in at 1.5798
  • #4,695
  • Jul 22, 2008 1:01pm Jul 22, 2008 1:01pm
I didn't trust my own judgement last time and let myself get talked out of the 1.5800 trade last week. All my charts said buy the EUR. This time I will listen to me and only me. I think we will see support at the 38.2% retrace on the daily chart. It has bounced once already at 1.5758. My buy is 1.5750 with 100TSL. Just my opinion and my money, LOL.
  • #4,696
  • Jul 22, 2008 1:43pm Jul 22, 2008 1:43pm
Hi all this is my frist post,
In at 1.5781
s/l 1.5677
would like to join the group.
  • #4,697
  • Jul 22, 2008 2:40pm Jul 22, 2008 2:40pm
Currently we're at 1.5776...any opinions on this being the low for now?
  • #4,698
  • Jul 22, 2008 2:47pm Jul 22, 2008 2:47pm
Quoting LearningPIPs
Currently we're at 1.5776...any opinions on this being the low for now?
I think it would help to figure out why price is here, before trying to figure out where it is going.
  • #4,699
  • Jul 22, 2008 2:54pm Jul 22, 2008 2:54pm
Agreed. Was a poorly worded question.
I'm looking at the daily high on 7/15 @ 1.6035 and low on 6/13 @ 1.5303 = 50% 1.5569 which seems to be a low thats out of reach.

Or should I look at the low on 7/7 @ 1.5610 = 50% 1.5822 which we've blown through.
What am I missing here?
  • #4,700
  • Edited 3:46pm Jul 22, 2008 3:34pm | Edited 3:46pm
Ok,

Some 20/20 hindsight as to why price dropped.

As often happens, a convergence of things. Possibly Italian Consumer Confidence at an all time low. Plus oil prices dropping. And this ...

A piece of analysis caught our eye, one of the Canadian banks reported on Eurozone capital flows. Core points - recent data indicate combined net portfolio and direct investment outflows from the EU; ECB Q1 report said "financial a/c, combined direct & portfolio investment recorded net E31bn outflows; net outflows in direct investment of E105bn, directed toward "other countries", Switzerland and US and significant purchases of "other countries" bonds by EU residents (E47bn). Their conclusion, EU companies & investors are diversifying productive capacity and investment portfolios out of the EU because the Euro is just too expensive, 1.5775 last. [email protected] /rs
(( I believe E105bn = 105 billion Euros))
(Oanda users. I got this off of the O platform under Resources and then FX NEWS and then Eur Trading Page and/or a whole menu of other trading news. )
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