Jacko's Forex House of Pleasure and Pain | Page 283 | Forex Factory

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Jacko's Forex House of Pleasure and Pain

  • #5,641
  • Dec 10, 2008 12:52pm Dec 10, 2008 12:52pm
I shorted at 1.3065. Within 2 mins I've got 40 pips in profit. now shifting SL to breakeven. hope the volatility doesn't knock me out.
  • #5,642
  • Dec 10, 2008 11:47pm Dec 10, 2008 11:47pm
looks like eur is trying for 1.329 or 1.33 with all these spikes lately
  • #5,643
  • Dec 11, 2008 12:03am Dec 11, 2008 12:03am
I`ll be short @ 1.3200
  • #5,644
  • Dec 11, 2008 12:39am Dec 11, 2008 12:39am
Quoting yonnie
I`ll be short @ 1.3200
no more shorts for me.
  • #5,645
  • Dec 11, 2008 1:28am Dec 11, 2008 1:28am
Will the long term trend change towards upward???
  • #5,646
  • Edited 3:01am Dec 11, 2008 2:47am | Edited 3:01am
Quoting dannywmk
Will the long term trend change towards upward???
Yes it will! Some day...

I'm out of the market for a while now. Going to wait for set up I will like. Seems like that set up will not occur for weeks to come. Maybe trend change is comming...
  • #5,647
  • Dec 11, 2008 3:51am Dec 11, 2008 3:51am
Quoting yonnie
The ranging market was over a couple of days ago and that`s why I got into the action.
It might go and try to take out the high of 1.3298.

Sorry, but I was not taking profits; after the trades went into profit, I had a 50 TSL on and the market simply did not give me more.

the last trade I closed out manually at 1.2926, because I felt that 1.3000 was going to be hit again.

just stopped out @ 1.3069 for a loss of 69 pips.

yonnie,

B*****Ks We are just exiting the trading range as of 1.3082 or there abouts.

A different set of rules should be used when trading range bound markets.

Ist rule, make sure you can identify a range bound market.

Regards,

BabeFX


"Gee,its lonesome in the outfield,its hard to keep awake with nothing to do"(Babe Ruth).
  • #5,648
  • Dec 11, 2008 6:34am Dec 11, 2008 6:34am
Just out of interest is anyone who currently trades Jacko style taking long positions?

The last short position I took was at 2700 on the 24th Nov which got stopped out at 2800 but came back into play a couple of days later when I re-entered based on Jacko's anti-hedge strategy (at that time I was still inclined to look for shorts). I hit my target but price didn't go much beyond it before starting to move upwards. Since then the two long positions I have entered (albeit a bit early perhaps) have resulted in hitting my targets.

I'm starting to think my bias will be long - depending on what happens at the current resistance level. Just wanted to see what anyone else thought about this?

Regards,


Dan
  • #5,649
  • Dec 11, 2008 12:26pm Dec 11, 2008 12:26pm
Hello... is there anybody out there?

My most recent long ended well from 1.3100 - just got stopped out for 250 at 1.3350
  • #5,650
  • Dec 11, 2008 12:36pm Dec 11, 2008 12:36pm
Quoting DanUK
Hello... is there anybody out there?

My most recent long ended well from 1.3100 - just got stopped out for 250 at 1.3350
great stuff. congrats on the awesome trade.
  • #5,651
  • Dec 11, 2008 12:44pm Dec 11, 2008 12:44pm
Quoting psyber85
great stuff. congrats on the awesome trade.
Thanks, I didn't think I was going to get quite as much out of that as I did (thought it would have probably stalled at 1.3300).

I wonder where it will take us next!?!
  • #5,652
  • Dec 11, 2008 12:53pm Dec 11, 2008 12:53pm
Well i'm going to be watching price action now around these levels andmaybe looking for a short as we are almost up against the downward trendline that started back in july. i won't short yet but wait for PA to try and give me a look in.
  • #5,653
  • Dec 11, 2008 1:35pm Dec 11, 2008 1:35pm
Yesterday, I got stoppet out at BE, and today, I`m short @ 1.3342. Slow movements in price, and I really don`t want to take any risks at this point, so sl is set to BE. It`s not Jacko style, but anyway, it`s a free ticket to the show. This one is leveraged beyond reason, so.... Drop baby, drop!!
  • #5,654
  • Dec 11, 2008 4:10pm Dec 11, 2008 4:10pm
Quoting yonnie
I`ll be short @ 1.3200
stopped out @ 1.3284 for a 84 pip loss.

seems like the E/U starts to listen to the fundamentals again. I`ll be watching for a 50% retrace to around 1.3250/1.3200 and go long
  • #5,655
  • Dec 11, 2008 4:20pm Dec 11, 2008 4:20pm
Quoting BabeFX
yonnie,

B*****Ks We are just exiting the trading range as of 1.3082 or there abouts.

A different set of rules should be used when trading range bound markets.

Ist rule, make sure you can identify a range bound market.

Regards,

BabeFX
not really a ranging market aye BabeFX

as an aspiring trader maybe you shouldn`t use such strong language.

I`m always willing to learn something new, so what is your different set of rules for trading a ranging market?
  • #5,656
  • Dec 11, 2008 6:30pm Dec 11, 2008 6:30pm
Quoting DanUK
Hello... is there anybody out there?

My most recent long ended well from 1.3100 - just got stopped out for 250 at 1.3350

takes a trader with the nerves of steel to have gone in 1.31, and you got your right rewards!! congrats!
  • #5,657
  • Dec 11, 2008 7:45pm Dec 11, 2008 7:45pm
This thread has been a very interesting read ... hopefully I've found it early enough to stop me from being in the lower 95% ...

One thing I'd bring up is that (being new here) the long term trend is what counts and looking at weekly and daily, the 50% retracements (as I see them) are 1.4100 and 1.3600 areas respectivly.

So, wouldn't you all be looking for those areas to be hit ? maybe some more upside before any strong resistance ?

Thanks for comments and clarity of your perspective ...
  • #5,658
  • Dec 11, 2008 8:48pm Dec 11, 2008 8:48pm
Quoting yonnie
stopped out @ 1.3284 for a 84 pip loss.

seems like the E/U starts to listen to the fundamentals again. I`ll be watching for a 50% retrace to around 1.3250/1.3200 and go long
me would retrace to 1.31 to go long...i am fearful of risk!
  • #5,659
  • Dec 11, 2008 10:07pm Dec 11, 2008 10:07pm
It's touching the long term down trend line, and just stand above an S/R line (which is also the 38.2% retracement from 1.4865 to 1.2333).

Where will it go???
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  • #5,660
  • Dec 11, 2008 10:17pm Dec 11, 2008 10:17pm
yep.. this is why i'm waiting for price action to tell me to go short. if it doesn't i won't.



Quoting dannywmk
It's touching the long term down trend line, and just stand above an S/R line (which is also the 38.2% retracement from 1.4865 to 1.2333).

Where will it go???
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