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Trading Aussie Jacko Style

  • #521
  • Sep 2, 2008 6:44pm Sep 2, 2008 6:44pm
I think you have to decide what you will do whenever this sort of event occurs and stick to it. The next time you widen your stop up to 100, it doesn't continue and you give back 100 pips. I speak from experience as always.

You could place an order to continue if it falls below a certain level, of course. I've done this for EURUSD at just below 14500. Might fail, of course, and take me with it.
The market reveals who we really are...
  • #522
  • Sep 5, 2008 1:35am Sep 5, 2008 1:35am
Sorry guys,
I was really toying with the idea to sell at 0.8350 and I didnt take the trade, I was in eur already and I dont usually trade more than one pair at a time. Anyway, it would have been a nice one! I hope you took advantage of this last drop...take care, Raz
Never say never.
  • #523
  • Sep 5, 2008 1:42am Sep 5, 2008 1:42am
Quoting ddblue
I'm over 200 pips in the positive at the moment.
Glad to hear that..

Sonic
  • #524
  • Edited 4:16am Sep 8, 2008 2:47am | Edited 4:16am
Im a seller at 0.8300, sl 50 pips

update 1 : stop at breakeven, 0.8300
Never say never.
  • #525
  • Sep 8, 2008 12:13pm Sep 8, 2008 12:13pm
Ok,

In at 0.8300, sl now at 0.8200, +100 locked in and trade still running (0.8128 now)
Never say never.
  • #526
  • Sep 8, 2008 1:14pm Sep 8, 2008 1:14pm
Quoting razldazl
...I dont usually trade more than one pair at a time.
Hello, Raz.

Your move to trade AUDUSD in addition to EURUSD was one of the reasons i started to trade more than one pair at a time. Its worked for me. I would imagine it would work well for you as well.

Gandy
  • #527
  • Sep 8, 2008 2:45pm Sep 8, 2008 2:45pm
Quoting Gandolf
Hello, Raz.

Your move to trade AUDUSD in addition to EURUSD was one of the reasons i started to trade more than one pair at a time. Its worked for me. I would imagine it would work well for you as well.

Gandy
Hey Gandy,
I think the only thing you have to watch is your risk when trading two USD based pairs in the same direction, and I have to ask myself why not just trade one with a larger size...anyway, Im really doing this aussie thing as a test of Jackos style on another pair, and to show people how his system works. Its clearly an excellent system, or at least Ive been lucky, take care, Raz
Never say never.
  • #528
  • Sep 8, 2008 8:41pm Sep 8, 2008 8:41pm
i don't believe in luck. you are a good trader.
  • #529
  • Sep 9, 2008 1:35am Sep 9, 2008 1:35am
Quoting Gandolf
i don't believe in luck. you are a good trader.
Thankyou gandolf, I guess hard work pays off in the end. Being a consistent winner is an ongoing project, in any case, no sense in getting a fat head, because the market will just give you a smack and show you whos who. Im happy with where I am at the moment though , take care, Raz
Never say never.
  • #530
  • Sep 9, 2008 1:57am Sep 9, 2008 1:57am
Quoting razldazl
Ok,

In at 0.8300, sl now at 0.8200, +100 locked in and trade still running (0.8128 now)
bringing my stop down to 0.8150, we may not survive the pullback but I will get in again if I get knocked out...150 pips locked in now
Never say never.
  • #531
  • Sep 9, 2008 3:03am Sep 9, 2008 3:03am
So you move it down 50 when it breaches the next round number (50) level? Interesting. (I thought you were basing it on lower highs.)
The market reveals who we really are...
  • #532
  • Sep 9, 2008 3:16am Sep 9, 2008 3:16am
Quoting shadowninja
So you move it down 50 when it breaches the next round number (50) level? Interesting. (I thought you were basing it on lower highs.)
Well, trying to protect profits somewhat I took a look at the hourly, where the high (of the last hourly pullback) comes in around 0.8125, so 0.8150 is enough above that to keep me safe if we are continuing down today. We have gone as low as 0.8020, so that is still giving back 130 pips if I get knocked out...and thats enough for little old me. Lets see if we break the low again, seems to me we are on an unstoppable train just now, take care, Raz
Never say never.
  • #533
  • Sep 9, 2008 5:27am Sep 9, 2008 5:27am
Quoting razldazl
bringing my stop down to 0.8150, we may not survive the pullback but I will get in again if I get knocked out...150 pips locked in now
OK
knocked out at 0.8150, +150 pips total

September total = 170+150 = 320 pips ...thanks Jacko!
Never say never.
  • #534
  • Sep 9, 2008 5:50am Sep 9, 2008 5:50am
Yay Well done. I missed getting in on that one but I think that your experiment with transferring the method to another pair is looking VERY valid!
I intend to keep the AUD on my watchlist for sure.
Good work Raz. Keep us posted!
  • #535
  • Sep 9, 2008 6:09am Sep 9, 2008 6:09am
Quoting PippinL
Yay Well done. I missed getting in on that one but I think that your experiment with transferring the method to another pair is looking VERY valid!
I intend to keep the AUD on my watchlist for sure.
Good work Raz. Keep us posted!
Will definitely keep updating. Thanks for your support hehe, this is real experimentation, so as usual, everyones comments and suggestions are welcome...speak soon, Raz
Never say never.
  • #536
  • Sep 9, 2008 7:09am Sep 9, 2008 7:09am
Nice going.

I like just trailing a 45 pip stop only because it is easier to manage. No need for thinking. Just how I like it.
The market reveals who we really are...
  • #537
  • Sep 9, 2008 7:32am Sep 9, 2008 7:32am
Quoting shadowninja
Nice going.

I like just trailing a 45 pip stop only because it is easier to manage. No need for thinking. Just how I like it.
Yeah its a toss up really. I made a few more pips this way than I would have done with a 45,75 or even 100 pip trailing stop ...but every trade is different. If we drop to 0.8100 from here I am tempted to get in again, we will see..
Never say never.
  • #538
  • Sep 9, 2008 7:43am Sep 9, 2008 7:43am
...at 0.8100, sl 0.8150
Never say never.
  • #539
  • Sep 9, 2008 10:36am Sep 9, 2008 10:36am
this area give or take a 100 pips has been significant S/R several times in the past.
2/2004
11/2004
3/2005
12/2006
9/2008?
  • #540
  • Edited 4:53pm Sep 9, 2008 2:12pm | Edited 4:53pm
Quoting razldazl
...at 0.8100, sl 0.8150
Hi,
moving stop to breakeven ...0.8100 now that trade is at +50

update:moved stop to 0.8050,+50 locked in
Never say never.
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