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Trading Euro ONLY for Jacko Style traders

  • #21
  • Sep 22, 2008 7:56am Sep 22, 2008 7:56am
  • #22
  • Sep 22, 2008 8:00am Sep 22, 2008 8:00am
Quoting Fx_Genius
The interesting thing about back testing is that it removes the one factor that can work for you or against you, human intuition.
This "knew" thing can be called many things but mostly it is a gut feeling.
Gut feeling is IMO one of the core features of a trader, it becomes your competitive advantage on the market and it is that 50% reason for your profitability.

Quoting Fx_Genius
As to the 250 SL value loss VS 100 SL value loss, they can be the same as account value and stop loss distance are used to calculate order size based on percentage of risk you are willing to take. Bigger SL, smaller order.
you are completely right here, I totally forgot about relating your stop to the account percentage which keeps it the same in terms of actual value.
Your experiment with multiple orders gives me even more confidence in the success of this method in the long run. thanx for the spreadsheet.
Market can stay irrational longer than you can stay solvent.
  • #23
  • Sep 22, 2008 8:45am Sep 22, 2008 8:45am
I decided to buy at 1.4635, TSL 100. reason: the upwards breakout of the last hours consolidation. If I will be stopped out by a retracement which will probably go to 4400, I will have an AH in place.

I am still worried about the 4650 resistance, but it seems that the upward momentum in euro is stronger than I expected. Still I will keep a tight TSL.
Market can stay irrational longer than you can stay solvent.
  • #24
  • Edited 4:40pm Sep 22, 2008 10:50am | Edited 4:40pm
Quoting FXBat
I decided to buy at 1.4635, TSL 100. reason: the upwards breakout of the last hours consolidation. If I will be stopped out by a retracement which will probably go to 4400, I will have an AH in place.

I am still worried about the 4650 resistance, but it seems that the upward momentum in euro is stronger than I expected. Still I will keep a tight TSL.
Edit: stop moved to 1.4594. This euro bull is strong

Edit: TSL changed to 50 pips because this market is moving fast and I dont want to lose pips on retracements. Currently stop at 4690, so +55 pips locked in.

Edit:[/color] stopped out at 4836 for +201 pips

P/L 373 pips. Total Capital 103,73$
Market can stay irrational longer than you can stay solvent.
  • #25
  • Sep 23, 2008 7:30am Sep 23, 2008 7:30am
Hi,
waiting for a retrace, I will wait for price coming down to 1.4400 and enter afterwards. Exact entry depends on the specific movement.

1.4400 is ~50% retracement and 4H TL

If it goes further down I'll take 1.4400 on the way up. If it turns earlier I still could have a chance to get in at 1.4500

Lowen


Currently this is mental, as I'm at work. I have no order set or sth., sorry.
  • #26
  • Sep 23, 2008 8:29am Sep 23, 2008 8:29am
I like your way of thinking, Lowen. 4400 could definitely be a bargain for us so I have a buy order there, quite a big one for my account, 4 lots.
However, I have the feeling that its not gonna go that far deep. As you can see now, bulls are fighting hard for every pip they lose. The market seems to me strongly bullish and therefore I have another buy order at 4600, 2 lots as usual.
If I am wwwwrroong and price will go down to 4400 I will have my AH order set at 4500.
I have both buy orders at 4400 and 4600 already set because I dont have time to stay at the screen too much, but I am not very worried because I dont expect a strong fall in the euro anymore, at least for the time being.
Good luck and lets see how this turns out.
Market can stay irrational longer than you can stay solvent.
  • #27
  • Sep 23, 2008 12:24pm Sep 23, 2008 12:24pm
I'm a 3% buyer at 1.4500 support turned resistance, and a 3% buyer at 1.4300 4hr trendline. I will also take bullish 4 hr price action trades and take an anti hedge on the 1.4500 trade if it fails. I'm thinking about a fixed stop loss for the 1.4300 trade...I'll see what's up on Wall Street and how hard it comes off that trendline make the decision.
  • #28
  • Sep 23, 2008 12:27pm Sep 23, 2008 12:27pm
Quoting Fx_Genius
In 1.4300 on 9/14/2008.
Added on dip @ 1.4100 on way back up.
Results:
16 orders total, 1.4100 - 1.4850, 0.0050 steps.
Orders were 3% risk each.
Out at 1.4650
Avg position: 1.4500
Avg pips for all orders: +175
Total net pips: +2800
Account +29.9% for this trade set (including interest)
Account -7.4% overall using this method.

Now waiting for next entry.
(Cue Happy Dance)
Attached Image
  • #29
  • Sep 23, 2008 12:47pm Sep 23, 2008 12:47pm
Looking at the price, currently I feel 1.4400 retrace might really be too deep to get true for the (shorttime) current situation.

I set an order at 1.4500. This is more likely the 50% Retrace area I will draw now on H4.
Hope it will not bounce of 1.4600, but I think not.

If I see strong reversal candle formations, I might instead buy around 1.4600.

This is mainly based on H4 chart atm.
  • #30
  • Sep 23, 2008 12:55pm Sep 23, 2008 12:55pm
Quoting hxcjf
I'm a 3% buyer at 1.4500 support turned resistance, and a 3% buyer at 1.4300 4hr trendline. I will also take bullish 4 hr price action trades and take an anti hedge on the 1.4500 trade if it fails. I'm thinking about a fixed stop loss for the 1.4300 trade...I'll see what's up on Wall Street and how hard it comes off that trendline make the decision.
Hi hxcjf,

where do u see that "1.4500 support turned/will turn resistance" on your chart?
I don't get it..
  • #31
  • Sep 23, 2008 10:01pm Sep 23, 2008 10:01pm
Looking at 1.4800, small drop compared to last rise (<200 pips for day range so far, 2 hrs to go locally) and it would appear the trend is back. Might be to soon to know for sure.
If I'm wrong and drops more, will be looking for lower entry.
  • #32
  • Sep 23, 2008 10:53pm Sep 23, 2008 10:53pm
Didn't know it, but I've been trading Jacko style.

I have 1.449 @61.8% on a 4hr, but don't see anything @1.45, other than it being a moderate psyc level point.

Looking for entry...maybe around 4655
  • #33
  • Edited Sep 24, 2008 12:28am Sep 23, 2008 11:53pm | Edited Sep 24, 2008 12:28am
Took a jacko long on touch of monthly TL. Added to it on the break of the sept 11 daily PB, added again on the break of the weekly PB, will add to it again if we get a PB this month and it breaks above.

EDIT: Not fully jacko I know, some james16 there too
Attached Image
  • #34
  • Sep 24, 2008 1:16am Sep 24, 2008 1:16am
OK cant remember when the last time someone posted a chart that actually showed a market position on their trade. Correct me if I'm wrong if thats not a live account though.

Bat:sorry for the interruption, good luck with your trading by the way

regards,

Agentfx


Quoting NuckingFuts
Took a jacko long on touch of monthly TL. Added to it on the break of the sept 11 daily PB, added again on the break of the weekly PB, will add to it again if we get a PB this month and it breaks above.

EDIT: Not fully jacko I know, some james16 there too
It's me...
  • #35
  • Sep 24, 2008 1:32am Sep 24, 2008 1:32am
Quoting AgentFx
OK cant remember when the last time someone posted a chart that actually showed a market position on their trade. Correct me if I'm wrong if thats not a live account though.

Bat:sorry for the interruption, good luck with your trading by the way

regards,

Agentfx
Yea mate, she's a live one.

I use mt4 standard ODL for demo, FxPro and OANDA for live.

FxPro has futures and CFD's which I also trade when I'm awake for the NY session (I live in Australia).
  • #36
  • Sep 24, 2008 4:38am Sep 24, 2008 4:38am
Quoting Fx_Genius
Results:
16 orders total, 1.4100 - 1.4850, 0.0050 steps.
Orders were 3% risk each.
Out at 1.4650
Avg position: 1.4500
Avg pips for all orders: +175
Total net pips: +2800
Account +29.9% for this trade set (including interest)
Account -7.4% overall using this method.

Now waiting for next entry.
(Cue Happy Dance)
nice trades Genius. 0.0050 steps means that you were actually entering trades at every 50 pips?
Market can stay irrational longer than you can stay solvent.
  • #37
  • Sep 24, 2008 4:39am Sep 24, 2008 4:39am
Quoting Lowen
Hi hxcjf,

where do u see that "1.4500 support turned/will turn resistance" on your chart?
I don't get it..
I think he means the opposite. 4500 was resistance before so it will probably turn support if price touches it.
Market can stay irrational longer than you can stay solvent.
  • #38
  • Sep 24, 2008 4:43am Sep 24, 2008 4:43am
Quoting NuckingFuts
Took a jacko long on touch of monthly TL. Added to it on the break of the sept 11 daily PB, added again on the break of the weekly PB, will add to it again if we get a PB this month and it breaks above.

EDIT: Not fully jacko I know, some james16 there too
No worries my friend. Even if you are not trading 100% Jacko style, I know you are a valued member of J16 so your posts are very welcome here. Adding to your trades based on PA is a great technique. And yeah, that huge pin that is forming on monthly convinces me that the uptrend is back in place and will be for a long time
Market can stay irrational longer than you can stay solvent.
  • #39
  • Sep 24, 2008 5:01am Sep 24, 2008 5:01am
Quoting bendenajones
Didn't know it, but I've been trading Jacko style.

I have 1.449 @61.8% on a 4hr, but don't see anything @1.45, other than it being a moderate psyc level point.

Looking for entry...maybe around 4655
according to Jacko's method, 4500 is the 50% fib of the last 4H Wave and also a resistance turning into support. The price will most likely find support there if it goes down that far.
Market can stay irrational longer than you can stay solvent.
  • #40
  • Sep 24, 2008 5:09am Sep 24, 2008 5:09am
Quoting AgentFx
OK cant remember when the last time someone posted a chart that actually showed a market position on their trade. Correct me if I'm wrong if thats not a live account though.

Bat:sorry for the interruption, good luck with your trading by the way

regards,

Agentfx
no problem Agent. step in here more often. I would also like to paste my orders here, just for credibility and ok, a bit of showing off as well maybe. I am really proud I got in at 4200 and hope to hold it up to 4950 at least.
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Market can stay irrational longer than you can stay solvent.
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