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Trading Aussie Jacko Style

  • #601
  • Dec 29, 2008 8:11am Dec 29, 2008 8:11am
nooooooooooooo,

dont you go for a retrace first??????
  • #602
  • Dec 29, 2008 12:49pm Dec 29, 2008 12:49pm
Quoting yonnie
nooooooooooooo,

dont you go for a retrace first??????
Well, we didnt get to 0.6966, so out at be...nothing ventured nothing gained...
Never say never.
  • #603
  • Jan 4, 2009 8:47am Jan 4, 2009 8:47am
Ok,
Im looking for a new entry point as close to the last one as possible, lets see where we pull back to in the next week or so...to answer your earlier question Yonnie, had we broken the top at 6966 I would have added another position taking advantage of the momentum at that point, (Aussie´s atr is astronomical these days so it could have gone far) the fact that we didnt break that high was a clue we would be pulling back and to be honest I was tempted to close with some profit at that point. But, being a small position and in a no risk situation I was willing to risk those pips. Given the date, it wasnt worth (imho) looking for a re-entry until after the holidays and Trichets announcement etc. Lets see what the new year brings...Happy 2009 all, Raz
Never say never.
  • #604
  • Jan 4, 2009 8:51am Jan 4, 2009 8:51am
Same to you!!


For me it can only get better
  • #605
  • Jan 5, 2009 3:55am Jan 5, 2009 3:55am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Hi All
looks like i'll be getting back into this with you raz, been a weird last 6 months - the move to oz was more complicated than i expected.

So my first thought is AU jacko style - why long??, when we review the charts weekly and monthly are way beyond deep corrections, daily is clearly down and is looking like a retracement into the high 72's, now the 4h which i know is your primary chart (or is it your only 1, will need to go back and read your rules) is long, but this is consistant with the daily retracement.

OK so for me i would look to trade long of the 1h and 4h with a target of 7250 which would then be inline with a daily chart jaco short trade.

will re-read your rules and keep my comments from now on in line with your rule, but i wanted to say high and see whats on your minds

MPP
  • #606
  • Jan 5, 2009 4:22am Jan 5, 2009 4:22am
Quoting MPP
Hi All
looks like i'll be getting back into this with you raz, been a weird last 6 months - the move to oz was more complicated than i expected.

So my first thought is AU jacko style - why long??, when we review the charts weekly and monthly are way beyond deep corrections, daily is clearly down and is looking like a retracement into the high 72's, now the 4h which i know is your primary chart (or is it your only 1, will need to go back and read your rules) is long, but this is consistant with the daily retracement.

OK so for me i would look...
Hey Jason great to see you back! Its comforting to see the survivors hehe. Ok, to answer your question, I took to incorporating Zoopy´s waves on 4hr as a directional guage, (I refer anyone interested to Zoopy´s journal its a great read) so as we are clearly breaking 4hr waves up then I would only look for long trades. I would be very happy to look at any charts you feel like because this is a crazy market, look at eur this morning!...again, great to see you, take care, Raz
Never say never.
  • #607
  • Jan 5, 2009 4:43am Jan 5, 2009 4:43am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting razldazl
Hey Jason great to see you back! Its comforting to see the survivors hehe. Ok, to answer your question, I took to incorporating Zoopy´s waves on 4hr as a directional guage, (I refer anyone interested to Zoopy´s journal its a great read) so as we are clearly breaking 4hr waves up then I would only look for long trades. I would be very happy to look at any charts you feel like because this is a crazy market, look at eur this morning!...again, great to see you, take care, Raz
Ok so the wave count is in your favour on Daily, 4h and 1h, i've not been there for a while now, been working (still am) on an EA and studying the Dib's system it's interesting how the charts look with the IB indicator on a wave chart, more things to think about - one day i'll settle on a trading style.LOL

I'm currently long on 14 pairs(demo) - another completely different system, lets get the year started and later if i get the hang of it i'll point you in the right direction.

so for now i'm looking at longs on AU 6950-7000 area, but below that and the wave count starts to change direction

happy trading
  • #608
  • Edited 5:00am Jan 5, 2009 4:57am | Edited 5:00am
Quoting MPP
Ok so the wave count is in your favour on Daily, 4h and 1h, i've not been there for a while now, been working (still am) on an EA and studying the Dib's system it's interesting how the charts look with the IB indicator on a wave chart, more things to think about - one day i'll settle on a trading style.LOL

I'm currently long on 14 pairs(demo) - another completely different system, lets get the year started and later if i get the hang of it i'll point you in the right direction.

so for now i'm looking at longs on AU 6950-7000 area, but below...
Looks like we´re on the same page...my god long on 14 pairs and they say women are complicated ??!! LOL take care Raz
PS Eur looks like its ready to drop to hell again, my guess is 1.2850 area, then back up, which may drag aussie down to our buy area, will be interesting to watch.Im still trying to work out whos following who to be honest hehe
Never say never.
  • #609
  • Jan 5, 2009 5:09am Jan 5, 2009 5:09am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting razldazl
and they say women are complicated ??!! Always
the problem is more about which country will recover quickest, not as before about which was in the worst condition - the trust is gone and the markets are confused, plus each country is trying to move it's currency into a strong position to maximise export as there is little to no money being spent within the borders. export is the answer but exchange rates need to be favourable.

ok too much for the first monday of trading - head hurts

looking at longs on AJ and UJ (live)

happy trading
  • #610
  • Feb 17, 2009 4:17am Feb 17, 2009 4:17am
Hi all,
well after months of waiting around for the market to decide where its going, or rather to feel at least like I have a clue where its going, I am going to try to move back into the game with some live, longer tf trades. I will be looking at taking a short in the 0.6500-0.6550 area,on a retest of the daily trendline that has been broken, but as always I will keep an eye on price action if/when we reach the area before getting in. Hope all are still alive in these volatile times, take care, Raz
Attached Image (click to enlarge)
Click to Enlarge Name: aussie daily.gif Size: 15 KB
Never say never.
  • #611
  • Feb 19, 2009 6:36am Feb 19, 2009 6:36am
Ok,
here is what Im looking for, you can see on the 4hr chart that we are fast approaching the trendline we broke this week, which also coincides with fib confluence in the same area, defined by the blue box. Lets look for some price action there, maybe a 4hr pin, IB or BEOB that will tell us things are turning around...good luck, Raz
Attached Image (click to enlarge)
Click to Enlarge Name: aussie 4hr.gif Size: 19 KB
Never say never.
  • #612
  • Feb 19, 2009 7:36am Feb 19, 2009 7:36am
These markets are disgusting

Looks like its back to scalping
Just Trade It
  • #613
  • Feb 19, 2009 7:53am Feb 19, 2009 7:53am
Quoting Big Wave Rider
These markets are disgusting

Looks like its back to scalping
Hi Big Wave Rider,

Nooooooo !!!!!!!

The market has been volatile in the extreme since August last year. Go and look at a weekly chart and see the HUGE change in the volatility.

I have a friend who is an ex-broker and has managed large teams of brokers over many years (we are both old!!...LOL) and he has never seen a scalper last more than 12 months on a fulltime basis. The intensity is too high, the spread becomes too significant as a percentage of revenue and the lack of a focused strategy messes with their heads.

The answer in these times is NOT to trade more.... It is simply to become much more selective on your trades.

We are currrently seeing brokerages openly admitting that the extreme volatility is taking out large numbers of accounts and they are losing even traders who have been with them for years. (In contrast, our group of traders have been counselled to be extremely cautious and be much more selective and are performing much better..our results are still strongly positive)

When the axe gets blunt, you don't start furiously chopping at the tree harder...you stop and sharpen the axe !!!!

.
Jacko
  • #614
  • Feb 19, 2009 8:14am Feb 19, 2009 8:14am
Jacko, very good advice again!





Quoting jacko
Hi Big Wave Rider,

Nooooooo !!!!!!!

The market has been volatile in the extreme since August last year. Go and look at a weekly chart and see the HUGE change in the volatility.

I have a friend who is an ex-broker and has managed large teams of brokers over many years (we are both old!!...LOL) and he has never seen a scalper last more than 12 months on a fulltime basis. The intensity is too high, the spread becomes too significant as a percentage of revenue and the lack of a focused strategy messes with their heads.

[b]The answer...
  • #615
  • Feb 19, 2009 8:28am Feb 19, 2009 8:28am
Quoting jacko
Hi Big Wave Rider,

Nooooooo !!!!!!!



.
Jacko

Hey Jacko, pleased to meet you. I have much respect for you as we are both professional traders. I completely understand what you are saying and actually have made quite a bit of money from this volatility. I have traded very little since November as I prefer catching larger trends over scalping.
That said however, I love trading and now that I have the time again I'm not afraid to jump in and out of the market more for fun than for profits, plus I like to test short term strategies that may help me catch the trends earlier.(sharpening that ax) Of course when I scalp I use extreme caution ( my risk is 0.2%) and no pyramiding. Like I said for me is scalping is more for fun and testing than for profits and even if I have a losing streak my capital won't be effected. But when the trends do resume you can bet I will be there to catch them.

I have to do something while the markets do nothing
Just Trade It
  • #616
  • Feb 19, 2009 8:33am Feb 19, 2009 8:33am
Nice to see some familiar faces around ...
Never say never.
  • #617
  • Feb 19, 2009 8:47am Feb 19, 2009 8:47am
Quoting razldazl
Nice to see some familiar faces around ...

Yes Ive been away for the last few months. Both of my computers where hacked which left me with only my phone to keep up with the markets.
(nothing worth trading anyways) I did learn a valuable lesson. The next time my computers are hacked I'm throwing them away and buying new ones. (or donating them) It's just not worth all the time and troubles. I think if the markets were more active I would have bought new ones however since they were going sideways I had no rush.

It's nice to be back.
Just Trade It
  • #618
  • Feb 19, 2009 8:50am Feb 19, 2009 8:50am
Well, was looking for a better spike up but I sold damn me and lets see where it takes me. Will be using a 50 stop on this one and if Im stopped out Jacko´s AH. Wish me luck...
Never say never.
  • #619
  • Feb 19, 2009 8:57am Feb 19, 2009 8:57am
Quoting razldazl
Well, was looking for a better spike up but I sold damn me and lets see where it takes me. Will be using a 50 stop on this one and if Im stopped out Jacko´s AH. Wish me luck...

Good luck. I actually haven't made any trades yet despite the fact I said I was going to start scalping. I thought about taking two longs in E.U and U.J but didn't pull the trigger cause I just didn't get a worthy signal. maybe tomorrow. Waiting and watching sucks but this is where we make our money (bye not losing any)
Just Trade It
  • #620
  • Feb 19, 2009 9:02am Feb 19, 2009 9:02am
Quoting Big Wave Rider
Good luck. I actually haven't made any trades yet despite the fact I said I was going to start scalping. I thought about taking two longs in E.U and U.J but didn't pull the trigger cause I just didn't get a worthy signal. maybe tomorrow. Waiting and watching sucks but this is where we make our money (bye not losing any)
This is the first, non demo non micro micro mini micro trade Ive taken in six months. I woke up yesterday and things just finally looked like they were making sense...but hell, just for saying that Im going to get a spanking hehe, take care, Raz
Never say never.
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