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  • #68,441
  • Feb 24, 2009 8:28am Feb 24, 2009 8:28am
it is almost magical how prices touch certain points numerous times..

i can almost swear that 12750ish has been visited a few times already last week and now..

if only i have the benefit of hindsight arggghhh
  • #68,442
  • Feb 24, 2009 8:36am Feb 24, 2009 8:36am
Highly Volatil today
  • #68,443
  • Feb 24, 2009 8:44am Feb 24, 2009 8:44am
Previously I called for a short.

Now I am analysing a possible long term short.

Look at the Daily chart. Yesterday bar closed with a reversal sign. The Euro may plunge to 1.2400 by the end of this week to create a double bottom. Afterwhich, I think its time for Euro to make new high.

DO NOT TRADE THIS!!!!!!!

Purpose of this? Trade short term SHORTS. Use FIBS and look for possible retracement towards south.
  • #68,444
  • Feb 24, 2009 8:47am Feb 24, 2009 8:47am
Quoting forexlearner
Previously I called for a short.

Now I am analysing a possible long term short.

Look at the Daily chart. Yesterday bar closed with a reversal sign. The Euro may plunge to 1.2400 by the end of this week to create a double bottom. Afterwhich, I think its time for Euro to make new high.

DO NOT TRADE THIS!!!!!!!

Purpose of this? Trade short term SHORTS. Use FIBS and look for possible retracement towards south.

I think the more you use analysis... or fibs.. or indicators. or anything... the less money you will get from the market....
  • #68,445
  • Feb 24, 2009 8:50am Feb 24, 2009 8:50am
The S&P/Case-Shiller home price index plunged by a record 18.23 percent during the fourth quarter, which also marked the ninth straight contraction. This drop led the overall index to tumble to a more than five year low of 139.14 from 150.00, and given the accelerating pace of price declines, the news suggests that the collapse of the housing sector is far from over.
you are the only one , who creates your reality .
  • #68,446
  • Feb 24, 2009 8:56am Feb 24, 2009 8:56am
hey,

can a kind soul explain to me Jacko's

An Alternative to Hedging. Jacko's Anti-Hedging Strategy


i dont understand it well.. it will be good to sum up in summary what jacko is all about.. pls pls.. much appreciated
  • #68,447
  • Feb 24, 2009 9:00am Feb 24, 2009 9:00am
Quoting emda
I think the more you use analysis... or fibs.. or indicators. or anything... the less money you will get from the market....
Is a coin flip better?
  • #68,448
  • Feb 24, 2009 9:01am Feb 24, 2009 9:01am
Quoting trading801
hey,

can a kind soul explain to me Jacko's

An Alternative to Hedging. Jacko's Anti-Hedging Strategy


i dont understand it well.. it will be good to sum up in summary what jacko is all about.. pls pls.. much appreciated
Suppose you have a sell @1.2950 with a stop loss @1.3000, the market goes against you and hits your stoploss, acording to jackos method, you'd let the market go at least 50 or more pips away from that point, and put the exact same order (sell) but at this time where your stop loss was, (1.3000) to catch when the market comes back.

Hope I was somehow helpfull
Traders are smartasses
  • #68,449
  • Feb 24, 2009 9:09am Feb 24, 2009 9:09am
Quoting doblece
Wave 4 should not go much further than 38% fib retracement, 50% as a big maximum.
When it comes to retracements if wave 2 is a simple correction wave 4 should be complex or vice versa and if wave 2 retraces 61.8% then wave 4 should do 38.2% or vice versa.
  • #68,450
  • Feb 24, 2009 9:13am Feb 24, 2009 9:13am
How about that consumer confidence.....

Supprised we dont have a bit more upswing on that.
  • #68,451
  • Feb 24, 2009 9:18am Feb 24, 2009 9:18am
Quoting pipmix
How about that consumer confidence.....

Supprised we dont have a bit more upswing on that.
I agree with you, I have noticed that in the past few news events we will have an opposite reaction for the first 15-20 minutes, then the true direction will show its head...Lets see what happens.

I have a buy stop long above at 1.2766 hoping to see the R1, but I will close half out at the daily pivot if we make it that high
Makin my way, the only way I know how...
  • #68,452
  • Feb 24, 2009 9:19am Feb 24, 2009 9:19am
Quoting jacko
Hi bgin2end

A friend of mine is an ex-broker and manager of large teams of brokers....He tells me that he has never seen a scalper last more than 12 months as a full-time trader...the pressure is too intense, you tend to overtrade and you very quickly stop seeing the forest for the trees and start jumping in and out of long and short trades with no strategy...in other words, you start "gambling".

You then also tend to start trading smaller and smaller time frames. Then you simply get blown away by the market.

.
Jacko
Since Jacko has a highly regarded reputation here this post should be a sticky on every trading thread. It might save a lot of traders going down the wrong path - maybe. But many need their ego feed at the same time their trading account goes hungry.
  • #68,453
  • Feb 24, 2009 9:24am Feb 24, 2009 9:24am
Quoting SunTrader
Since Jacko has a highly regarded reputation here this post should be a sticky on every trading thread. It might save a lot of traders going down the wrong path - maybe. But many need their ego feed at the same time their trading account goes hungry.
I concur.

Maybe Jacko can clarify this but one's definition of scalping differs from another. I see anything under daily as scalping. But that's just my view. What's yours?
Not all sins are created equal
  • #68,454
  • Edited 10:14am Feb 24, 2009 9:25am | Edited 10:14am
Quoting trading801
hey,

can a kind soul explain to me Jacko's

An Alternative to Hedging. Jacko's Anti-Hedging Strategy


i dont understand it well.. it will be good to sum up in summary what jacko is all about.. pls pls.. much appreciated
Is this better...? lol
Attached Image
  • #68,455
  • Feb 24, 2009 9:32am Feb 24, 2009 9:32am
Quoting Jay Walker
I concur.

Maybe Jacko can clarify this but one's definition of scalping differs from another. I see anything under daily as scalping. But that's just my view. What's yours?
Small pips in small timeframe. Small equals 5-15 pips in 5-15 minutes. Obviously I don't mean exactly to these pip amounts or minutes but somewhere along those lines. I don't think of scalping as the same as an intra-day trade though.

That is why they came up with the term daytrader which is defined as someone who maxes out their creditcards and then goes 'postal'.

Of course scalping is form of daytrading too.
  • #68,456
  • Feb 24, 2009 9:34am Feb 24, 2009 9:34am
Quoting alyehoud
Sort of crude, but it should help...

Lol, which way is this trade supposed to go? It is a loser either way xD
  • #68,457
  • Feb 24, 2009 9:37am Feb 24, 2009 9:37am
selling usd/jpy 96,65 - target 95,80
Twitter: Forexlivetrade - Buy: AFFI.CPH ISIN: DK0015966592 - target 12 DKK
  • #68,458
  • Feb 24, 2009 9:37am Feb 24, 2009 9:37am
Closed all dollar shorts today...100+ total. I have to tell ya the volatility is aweful. I think the markets are so illiquid FX trading is not what is used to be. Three times I tried to close positions and rates were changing so fast I could not get out at higher levels. I am stepping back for a while.
  • #68,459
  • Feb 24, 2009 9:38am Feb 24, 2009 9:38am
Quoting nvcK
Lol, which way is this trade supposed to go? It is a loser either way xD
yea.. E/U! make your choice!
Trade what you see. Write what you feel
  • #68,460
  • Feb 24, 2009 9:38am Feb 24, 2009 9:38am
Quoting jckm
selling usd/jpy 96,65 - target 95,80
I have to say, that trade seems very viable. USDJPY is a fraud at current levels
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