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Jacko's Forex House of Pleasure and Pain

  • #6,081
  • Edited 6:53am Feb 9, 2009 6:26am | Edited 6:53am
well my 100 pip trainling stop was hit @ 2974 for a 24 pip loss waiting for a move above further to put an AH in place...
  • #6,082
  • Feb 9, 2009 7:22am Feb 9, 2009 7:22am
Quoting trixtuf
if it breaks 2992 I'm looking for another 50 pips off the 2--6-- 1600hr candle on the 4hr chart ...
got filled at 1.2995 ... stop now at b/e
  • #6,083
  • Feb 9, 2009 7:23am Feb 9, 2009 7:23am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
EURUSD, entry 1.2910, stopped out 1.2972, initial TP 1.3050. plan was screwed by too tight trailingstop. it's indeed pity
Attached Image (click to enlarge)
Click to Enlarge Name: statement.gif Size: 57 KB
  • #6,084
  • Feb 9, 2009 7:28am Feb 9, 2009 7:28am
Hi trixtuf and krue,What are you basing your trades on? If I understand you correctly you are counter-trend trading?Regards,Dan
  • #6,085
  • Feb 9, 2009 7:28am Feb 9, 2009 7:28am
Quoting krue
EURUSD, entry 1.2910, stopped out 1.2972, initial TP 1.3050. plan was screwed by too tight trailingstop. it's indeed pity
still a good trade off that round number .. well done
  • #6,086
  • Feb 9, 2009 7:31am Feb 9, 2009 7:31am
Quoting DanUK
Hi trixtuf and krue,What are you basing your trades on? If I understand you correctly you are counter-trend trading?Regards,Dan

Hi Dan ... see post 6079 for my reasoning .. it's still not over but thr market just keeps grinding higher .. I may make it to target ... ????
  • #6,087
  • Feb 9, 2009 7:56am Feb 9, 2009 7:56am
isn't counter trend trading not the Jacko way? As well as using TP's? I am new here to this method, but from what I read Jacko ONLY tades the trend and uses his trailing stop as his exit...

A little bit of light shed here would be great, thanks guys

AH in place now @ 2974 for an e/u short
  • #6,088
  • Feb 9, 2009 8:11am Feb 9, 2009 8:11am
Quoting bgin2end
isn't counter trend trading not the Jacko way? As well as using TP's? I am new here to this method, but from what I read Jacko ONLY tades the trend and uses his trailing stop as his exit...

A little bit of light shed here would be great, thanks guys

AH in place now @ 2974 for an e/u short

well, I did go read your blog .. well laid out and looks like you've got a solid begining .. how does one make a comment? pm me if you please
  • #6,089
  • Feb 9, 2009 9:28am Feb 9, 2009 9:28am
I took a hit on that one.
Stopped out @ 1.3080 for -100.
  • #6,090
  • Feb 9, 2009 9:28am Feb 9, 2009 9:28am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
sometimes, very difficult to determine a trend
  • #6,091
  • Feb 9, 2009 9:52am Feb 9, 2009 9:52am
Quoting jacko
I am a Trend Trader

Firstly, how do you know what the trend is?

DETERMINE THE TIME FRAME THAT YOU WANT TO TRADE.

1. If the graph on the chart starts in the bottom left hand corner and ends in the top right hand corner, the market is going UP.

2. If the graph on the chart starts in the top left hand corner and ends in the bottom right hand corner, the market is going DOWN.

3. If you are still confused, print it off and show it to a 5 year old...they will get it right EVERY time...LOL...
Not to Jacko...either that or he knows an extremely smart 5 year old!!
  • #6,092
  • Feb 9, 2009 5:08pm Feb 9, 2009 5:08pm
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
spell out the current eur/usd daily trend now.
  • #6,093
  • Feb 9, 2009 5:11pm Feb 9, 2009 5:11pm
Quoting krue
spell out the current eur/usd daily trend now.
Down
Living the adventure in my head.
  • #6,094
  • Feb 9, 2009 6:13pm Feb 9, 2009 6:13pm
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
congratulations, you guys mastered the essence of Jacko technique, good luck !
  • #6,095
  • Feb 9, 2009 6:38pm Feb 9, 2009 6:38pm
Ok first things first - the general consensis of the trend is down...at least it is on the timeframes I am trading.

As for my trade this morning, i was about 100 pips too early!!! ahaha. I was stopped out @ 2974 then place my AH and I sold at the major resistance @ 3100 both have bee hit and I am now in the trade 120 pips.

I love Jacko!! hahaha
  • #6,096
  • Feb 9, 2009 6:43pm Feb 9, 2009 6:43pm
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
I see another 95%
  • #6,097
  • Feb 9, 2009 9:12pm Feb 9, 2009 9:12pm
Quoting krue
I see another 95%
Forgive my ignorance, please explain...
  • #6,098
  • Feb 9, 2009 10:09pm Feb 9, 2009 10:09pm
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
I meant I am learning good lesson from you
  • #6,099
  • Feb 10, 2009 1:36am Feb 10, 2009 1:36am
Hi Guys,

When you look at the Euro at the weekly, daily and 4 hourly the trend looks down.

What my question is is this. "Do you look at a smaller timeframe to determine your entry."

You determine that you should be going short at a 50% fib or round number or something but at what point do you make your entry. The number of times that I have entered and being stopped out is crazy. I just dont know if I should be going to a smaller time frame or what.

Could someone offer some advice.
  • #6,100
  • Feb 10, 2009 2:17am Feb 10, 2009 2:17am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
it seems some study on MM would serve your purpose, if I may. looking into smaller TF for me is a good approach to locate the entry with precision. hope this helps.

what ever the trend is, I am making money on E/U pair for my long positions pretty lucrative. see another screen catch as below, another 300 dollar in pocket now
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