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Trading Euro ONLY for Jacko Style traders

  • #61
  • Sep 30, 2008 3:52am Sep 30, 2008 3:52am
Quoting Lowen
in at 1.4450, had no trailing set. so still in this move.
currently +31 piips

EDIT: Wow that's fast: +65pips (15 locked in)
good job. this is a very good strategy in these volatile markets. Lock in profits as fast as you can.

For me, the big question now is still: where will the euro head from now on? Until I will know that answer, I will not trade See you next week, Lowen.
Trade carefully.
Market can stay irrational longer than you can stay solvent.
  • #62
  • Sep 30, 2008 8:21am Sep 30, 2008 8:21am
Just before I leave, I took another CT Trade, because the euro broke the 4H TL and looks to be currently heading back to the bottom at 3900.
I sold at 4300, fixed SL at 4400 and TP at 3900, no TSL because I do not want to be taken out by volatile prices.
Market can stay irrational longer than you can stay solvent.
  • #63
  • Edited 10:49am Sep 30, 2008 8:34am | Edited 10:49am
Quoting FXBat
Just before I leave, I took another CT Trade, because the euro broke the 4H TL and looks to be currently heading back to the bottom at 3900.
I sold at 4300, fixed SL at 4400 and TP at 3900, no TSL because I do not want to be taken out by volatile prices.
I don't know the countertrend method, but currently you should be 100 in profit

EDIT: 250 !
  • #64
  • Oct 5, 2008 8:22am Oct 5, 2008 8:22am
Quoting Lowen
I don't know the countertrend method, but currently you should be 100 in profit

EDIT: 250 !
It was a very nice trade. And how simpler can it get than just trading with Trendline breaks.
The Counter Trend strategy is roughly about selling when the price breaks a TL on a 4H or Daily Chart. A good point to sell would be at the closest round number below the TL. I cant write more about it out of respect for Jacko and his personal blog.

However, the trend has obviously changed for the Euro. I think we are now in a long term downtrend.

On the Daily Chart (first screenshot), we obviously have a head and shoulder formation and the price just broke the Neckline. This might lead to a very sharp fall.

Second chart is my short trade at 4300, at the break of red TL and the round number 4300.

For next week, the strategy is simply sell any rallies. Next short term target is 4350, therefore we have 450 pips available for shorting before any danger of reversal.

The profit of my last trade was a nice 400 pips, so the new P/L is
646 pips. Total Capital 106, 46$
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu1.JPG Size: 115 KB
Click to Enlarge Name: eu2.JPG Size: 155 KB
Market can stay irrational longer than you can stay solvent.
  • #65
  • Oct 9, 2008 4:54am Oct 9, 2008 4:54am
Ok, Back to posting after a few crazy days in which I actually lost about 200 pips trying to sell the euro, but it seems that its actually bound for a bigger retracement. We are obviously in a downtrend now, but since Monday night the euro is trying to close the gap at 1.3700-1.3800.
The pattern on 1H is very clear: HH and Higher Lows. The price now broke above 3750 so I bought it at 3760 with a fixed 100 TSL. This is a Counter Trend Trade, based on Breakout.
I will move my stop at BE once we are in 100 pips above my entry. We might go to 3900 before starting to go down again. However, the medium term target is 3300. Using the idea of Jacko, I think the next game in the cards for the Big Boys is to try to push to Euro at 1.3000. Will see if I am right.

Updated P/L is 446 pips. Total Capital 104, 46$
Market can stay irrational longer than you can stay solvent.
  • #66
  • Oct 9, 2008 5:20am Oct 9, 2008 5:20am
Ok, Back to posting after a few crazy days in which I actually lost about 200 pips trying to sell the euro, but it seems that its actually bound for a bigger retracement. We are obviously in a downtrend now, but since Monday night the euro is trying to close the gap at 1.3700-1.3800.
The pattern on 1H is very clear: HH and Higher Lows. The price now broke above 3750 so I bought it at 3760 with a fixed 100 TSL. This is a Counter Trend Trade, based on Breakout.
I will move my stop at BE once we are in 100 pips above my entry. We might go to 3900 before starting to go down again. However, the medium term target is 3300. Using the idea of Jacko, I think the next game in the cards for the Big Boys is to try to push to Euro at 1.3000. Will see if I am right.

Updated P/L is 446 pips. Total Capital 104, 46$
Market can stay irrational longer than you can stay solvent.
  • #67
  • Oct 9, 2008 6:10am Oct 9, 2008 6:10am
i might have jumped in too early at the breakout of 3750 level, but I am ready to buy at 3650, on a dip. I believe that Euro is in an corrective rally, as it can be seen in the bullish flag on 1H chart, and it might reach a great spot for shorting, 1.4000, which is a confluence of a downtrend TL and the 50% level of the last 4H wave down.

Strategy: buy at 3650 target 4000. Then sell at 4000 or 3900.
Attached Image
Market can stay irrational longer than you can stay solvent.
  • #68
  • Oct 20, 2008 5:51pm Oct 20, 2008 5:51pm
Its been some time since I didnt post and there is not much interest in this thread. But I will keep posting for a while and if still i will be the lonely wolf here, I will move this to the Journal Section.
Didnt trade much in this period, but I added Aussie to my portfolio, after reading RazlDazl thread and getting convinced by her success with it.

So from now I will be trading both Euro and Aussie here to some extent.

Euro:
after euro finally broke from the consolidation triangle, I got in at 3550 but I considered this quite risky so I trailed it with 50 p TSL. getting stopped out for 12 pips.
However, best entry would be IMO at 3400 - under broken TL and 50% retracement. I have a sell order there with a 50 TSL. And one more order under the current low, at 1.3280 TSL 100.
Attached Image (click to enlarge)
Click to Enlarge Name: eur.JPG Size: 67 KB
Market can stay irrational longer than you can stay solvent.
  • #69
  • Oct 20, 2008 6:08pm Oct 20, 2008 6:08pm
Aud:
With Aussie I am not sure what to do, because it broke above a 4H TL.However, on Daily it is still under 7100, which means that shorts are still safe.
Since I am not very sure where to sell on a rally, I will put a sell order, quite risky, at 6950, under the current TL, with a 100 TSL.
Lets see how it plays out.

New balance is 106, 78$
Attached Image
Market can stay irrational longer than you can stay solvent.
  • #70
  • Oct 20, 2008 6:18pm Oct 20, 2008 6:18pm
Quoting FXBat
Its been some time since I didnt post and there is not much interest in this thread.
I don't think it's a lack of interest, it's the way the E$ is trading.
There hasn't been much action at Jacko's page either.
  • #71
  • Edited Oct 22, 2008 7:45am Oct 21, 2008 4:28pm | Edited Oct 22, 2008 7:45am
Quoting Fx_Genius
I don't think it's a lack of interest, it's the way the E$ is trading.
There hasn't been much action at Jacko's page either.
well i dont think that we can complain about lack of action today. Damn, are we diving in the abyss?

Anyway my trades are doing great. I love this volatility.
For euro, my sell stop order at 1.3280 got triggered and now I moved my TSL at 3150 locking in +130 pips.
For the Aussie trade I currently have locked in +147 pips.

EDIT: I have been stopped out on euro for 444 pips and on Aussie for 147 pips. Great +591 pips in 2 days of trading. This volatility is insane. Looking for the next retracement to load shorts again. I will be more careful with Aussie coz it seems to have a more choppier fall than euro.

Total Balance: 112, 69$. So far 12,69% return on my account in one month.
Market can stay irrational longer than you can stay solvent.
  • #72
  • Oct 22, 2008 6:14pm Oct 22, 2008 6:14pm
Quoting Fx_Genius
I don't think it's a lack of interest, it's the way the E$ is trading.
There hasn't been much action at Jacko's page either.
Yeah, I agree with that. Also it would be good to keep the AUD aspect alive now that Raz has shutdown her thread on it
  • #73
  • Oct 24, 2008 3:45am Oct 24, 2008 3:45am
Quoting PippinL
Yeah, I agree with that. Also it would be good to keep the AUD aspect alive now that Raz has shutdown her thread on it
well, im completely open to suggestions about trading Euro and Aussie as well. I would be very grateful if you guys post your trades here and discuss them.
My next trade was a breakout call from Jacko. We sold at 1.2725 and now we are deep in profit
Market can stay irrational longer than you can stay solvent.
  • #74
  • Nov 4, 2008 10:01am Nov 4, 2008 10:01am
Hi FXBat,

what are ur current wins?

I try to visit FF again, I had some weeks w/o, cause I really have a hard time to follow the chart without being able to supervise the trades intraday.
It simply does not work for me to pre-set the In/Out & AH, or I don't know how to combine this with a fulltime job
  • #75
  • Nov 7, 2008 6:23am Nov 7, 2008 6:23am
Quoting Lowen
Hi FXBat,

what are ur current wins?

I try to visit FF again, I had some weeks w/o, cause I really have a hard time to follow the chart without being able to supervise the trades intraday.
It simply does not work for me to pre-set the In/Out & AH, or I don't know how to combine this with a fulltime job
hey lowen, long time no seen my current wins are stagnating because i didnt have time at all to trade the last few weeks, and this is actually good coz the euro has been awfully ranging.
I will come back to normal trading next week. I have the same problem with you, I cant follow the market during the day and that is why implementing the AH at the right moment becomes difficult. I still didnt find a solution to this problem.
However, one way is to try to pick the best places possible for our trades, according to the information we have in that time.
If you look in the attached chart, I wouldnt trade at all the current range of the euro, but i would definitely sell once it breaks below 2650....

any thoughts, anyone?
Attached Image (click to enlarge)
Click to Enlarge Name: euro.jpg Size: 243 KB
Market can stay irrational longer than you can stay solvent.
  • #76
  • Nov 7, 2008 8:36am Nov 7, 2008 8:36am
In a shorting mood, meself. Taking scalps with no target. One could break...
The market reveals who we really are...
  • #77
  • Nov 10, 2008 9:21am Nov 10, 2008 9:21am
Quoting Fx_Genius
I don't think it's a lack of interest, it's the way the E$ is trading.
There hasn't been much action at Jacko's page either.
FX Bat and Fx_Genius... I am new to trading and trying my best to learn Jacko's method. I hope this thread can take off.

Looking at today's daily chart for EUR/USD what are your thoughts about it breaking its downward trend?
  • #78
  • Nov 11, 2008 8:42am Nov 11, 2008 8:42am
Quoting FXBat
If you look in the attached chart, I wouldnt trade at all the current range of the euro, but i would definitely sell once it breaks below 2650....

any thoughts, anyone?
This is a very neat triangle. I'd go with u.

I guess I will look for a good Broker now and start with $100, so I don't forget following the chart (as it happens to me with Demoaccounts).
  • #79
  • Nov 11, 2008 9:02am Nov 11, 2008 9:02am
Sorry, yes, short from 12750.
The market reveals who we really are...
  • #80
  • Nov 11, 2008 9:33am Nov 11, 2008 9:33am
Quoting truckjrt

Looking at today's daily chart for EUR/USD what are your thoughts about it breaking its downward trend?
Ok I retract my breaking it's downward trend
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