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Trading Euro ONLY for Jacko Style traders

  • #81
  • Nov 14, 2008 8:31am Nov 14, 2008 8:31am
Quoting truckjrt
Ok I retract my breaking it's downward trend
well downward it is, however the euro has been trading awfully this week. Although i didnt have any serious losses, it made me really angry trying to deal with all these fake breakouts and lack of direction. At one point I was heavily in the money, having sold from 2650 and the price was already at 2450. I moved all my stops at BE being sure that this time will reach 2100 however it didnt, and when I woke up next morning everything was stopped out at 0 ) i felt like breaking the screen. that late night move of 300+ pips was crazy and probably fake.
Last short I took was from 1.2800 and Im still in it, but this lack of momentum cracks me out hopefully after G20 meeting next week we get some more serious moves.
Market can stay irrational longer than you can stay solvent.
  • #82
  • Nov 14, 2008 9:55am Nov 14, 2008 9:55am
Quoting FXBat
Last short I took was from 1.2800 and Im still in it, but this lack of momentum cracks me out hopefully after G20 meeting next week we get some more serious moves.
Currently I am short at 1.2700 with a TS of 100.

This back and forth has killed me, thank goodness i am still demoing. I have a good feel of what i am doing but entry points are killing me. I am still trading too much, mostly b/c its a demo acct and not my money and partly b/c I am trying to understand how to read the charts and trend lines.

What chart is best to find a good entry point? 4hr? 2hr? 1hr? less?
  • #83
  • Nov 14, 2008 4:40pm Nov 14, 2008 4:40pm
Quoting truckjrt
Currently I am short at 1.2700 with a TS of 100.
Damn it! I stopped out at 1.278 and missed out on 100 pips.
  • #84
  • Nov 17, 2008 12:44pm Nov 17, 2008 12:44pm
While Jacko's method requires 2 of the 3 types of trend to work best (Up & Down, 3rd type is Range) it does not seem to work well with long duration trades in the type of market we currently have (Range). Yes, it has been down trend since July but the amount of movement recently has been unbelievable! (Up to of 700 pip movement in 1 day, against the trend!)

I don't know if the Turtles are trading or waiting, but I got bored waiting.

And yes, I have broken just about every single rule of trading (Over trading, adding to loosing positions, going against the trend, etc.), since Nov 5th. The market has been so irrational lately I must have caught it!

And I'm loving it!
Attached Image
  • #85
  • Nov 17, 2008 7:22pm Nov 17, 2008 7:22pm
I just wanted to say hello.I followed Jackos thread awhile back quitely.I went threw the pdf and all the good stuff,I know the stategy he uses.From there I traveled the endless sea of threads.
I am now really into "no brainer trades" Very good thread for anyone who has not checked it out.It is basically what you have going on here,no indicators.JUST SIMPLE PRICE ACTION.I want to keep my eye on one pair.Reason is for focus.You can focus better on one thing than on 4 things.Along with the personality of the pair and news related.So that is why I come here.
I really like jacko's strategy and this is the pair I find I am most interested in.So I hope we can all learn and help each other out!Like I said earlier check out "no brainer trades"...Very informative stuff there!Well good trading to you all!
  • #86
  • Nov 18, 2008 6:55am Nov 18, 2008 6:55am
hey guys, its been sometime since i didnt post. the market is moving slower than a snail, and this shows that a big break should occur soon.

its nice to see that there are some good jacko followers posting here. I will resume my posting starting from today.

I am loaded with shorts from both 1.2700 and 1.2650. both with 100 TSL. Until now I didnt get stopped out, but I didnt trail my stops either, because I am waiting for this big breakout which will hopefully occur in the NY session today
Market can stay irrational longer than you can stay solvent.
  • #87
  • Nov 24, 2008 4:20pm Nov 24, 2008 4:20pm
Would it be wrong to think that the next good 50% fib entry point for EUR/USD is at 1.3050 according to this chart??? I am looking to go short there.

Any thoughts?


Attached Image (click to enlarge)
Click to Enlarge Name: 4-hr 50% fib.gif Size: 29 KB
  • #88
  • Nov 24, 2008 4:49pm Nov 24, 2008 4:49pm
Quoting truckjrt
Would it be wrong to think that the next good 50% fib entry point for EUR/USD is at 1.3050 according to this chart??? I am looking to go short there.

Any thoughts?
That's not a bad number. I would put it closer to 1.3000 to go with a round number (as Jacko likes) but both of them are supported by Fibo and recent (2-weeks) resistance levels.
  • #89
  • Dec 4, 2008 12:48pm Dec 4, 2008 12:48pm
I'm in at 1.28. Anyone else jump in around there?
  • #90
  • Dec 5, 2008 11:15am Dec 5, 2008 11:15am
Was stopped out at 1.2662.

Any thoughts on next entry point?
  • #91
  • Dec 5, 2008 7:41pm Dec 5, 2008 7:41pm
Quoting truckjrt
Was stopped out at 1.2662.

Any thoughts on next entry point?
We have seen the market was very choppy for the past few weeks with prices re-visiting every few days. Recent H4 of EurUsd shows scope for the pair to test the recent highs at 1.2848 which is the closest resistance which would lead the price to test 1.3 highs. The week ended positive signaling a possibility of the month also ending as a bullish candle. There`s not much for the rest of the month, as the important data, viz the payroll and rate decisions have become past.
  • #92
  • Dec 10, 2008 3:50am Dec 10, 2008 3:50am
chart
Attached Image (click to enlarge)
Click to Enlarge Name: eu.PNG Size: 20 KB
Market can stay irrational longer than you can stay solvent.
  • #93
  • Dec 10, 2008 3:50am Dec 10, 2008 3:50am
Hi again. Its good to see the thread is still moving.

The market has been awful recently, and I was busy enough not to trade these whipsaws, so I am happy. However, I am also starting to think that we might go up from here. The lows on Daily are getting higher and higher, 2800 which used to be quite a good selling point became a support, and 1.3000 is obviously the next key resistance. If we break it, I think the next stop will be at 1.3200-1.3300.

I will go for buys at 1.2800 area, and close half back up at 1.3000 and let the rest roll towards 1.3200 in case we get a breakout. I would use small stops of 50 pips, because if it breaks 2800 to the downside, we will probably go back down to 2600.

Is anyone else counter trending right now?
Market can stay irrational longer than you can stay solvent.
  • #94
  • Dec 10, 2008 4:05am Dec 10, 2008 4:05am
This is just my personal opinion, while everyone is entitled to it, all hopeless and idealess freaks are encouraged to my personal opinion.

(Not the usual non disclosure) While i do not encourage anyone to follow my opinionated trade, any followers who punted and gained are not stopped from donating partial profits to me. I do not encourage anyone to do so. (Liar!) kekeke

Ok! Let my opinion be said:

I believe we're on a medium retrace to 1.36 zone! Zone, not necesarry must go there!!!!! If it goes there, in future i'll come back and say, see i told you so. lol.

While trend is still down, i would put a long trade at 1.2850.

Why? I don't counter trade. Long now is counter! So i said its an opinion.
Join the bottoms on the 4 hr of the following dates: 05 Dec 1600, 2000 hrs low with 09 Dec low at 1200 & 1600 hrs. You will see a support near the 1.2850. I believe if the trend is up, that is where i'll place my desperate trade, SL at 1.2750.

Trade at your own risk because its not my money! Or does nobody know that ?
Still waters run deep
  • #95
  • Dec 10, 2008 4:29am Dec 10, 2008 4:29am
hey barak, great to see you here. Its good that we are on the same line.
the upside break of 2800 made me refrain from selling at 2850 as Jacko did. This time I was lucky

I also think 3200-3300 to even 3600 are possible in the near future, however, even if the price is moving there, it is so slow and damn annoying.
Market can stay irrational longer than you can stay solvent.
  • #96
  • Dec 11, 2008 8:39am Dec 11, 2008 8:39am
The euro never looked back at 2800, so I managed to enter at 1.3010. The move up has been really fast, I have one lot with 100 TSL and one lot with stop at BE and TP at 1.3350.

My expectation is that the euro will touch 3350 before any serious retracement.

currently 150 pips locked in.
Market can stay irrational longer than you can stay solvent.
  • #97
  • Dec 15, 2008 3:38am Dec 15, 2008 3:38am
Quoting FXBat
The euro never looked back at 2800, so I managed to enter at 1.3010. The move up has been really fast, I have one lot with 100 TSL and one lot with stop at BE and TP at 1.3350.

My expectation is that the euro will touch 3350 before any serious retracement.

currently 150 pips locked in.
One lot stopped out by 100 TSL at 1.3304 for almost 200 pips profit and the other one still running, with a fixed stop at 1.3250 under the 4H lows. it seems the euro is holding above the 3400 level very well. If it retraces from here, I would look for a buy around 3300-3250 area (4H TL and 50% fib)
Market can stay irrational longer than you can stay solvent.
  • #98
  • Dec 15, 2008 5:55am Dec 15, 2008 5:55am
Quoting FXBat
If it retraces from here, I would look for a buy around 3300-3250 area (4H TL and 50% fib)
So are you thinking the longterm trend has changed?
  • #99
  • Dec 15, 2008 3:10pm Dec 15, 2008 3:10pm
Quoting truckjrt
So are you thinking the longterm trend has changed?
the push upwards is very strong, but I wouldnt call a trend change yet. It is however a short term bullish trend, so its obvious you should be on the long side. Jacko agrees too.
I am curious to see where will the retracement start, so I can enter with new fresh positions. I wouldnt enter now because this move is overextended.
On the short term, I would consider 3850 (previous S) and 4150 (50% retracement) as possible long targets.
Market can stay irrational longer than you can stay solvent.
  • #100
  • Edited 1:38pm Dec 16, 2008 10:49am | Edited 1:38pm
I am in long at 1.380. My thoughts are if it broke from 1.37 up to 1.38 or down to 1.36 it would ride up to 1.40 or fall to 1.30.

Anyone else in now?

Update:
Just caught a break out up to 1.3975. I tightened up my TS to just 35 pips. Can we break thru 1.40?
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