Jacko's Forex House of Pleasure and Pain | Page 318 | Forex Factory

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Jacko's Forex House of Pleasure and Pain

  • #6,341
  • Feb 26, 2009 1:53am Feb 26, 2009 1:53am
I made +121 pips on the 2 down moves on monday and tuesday. Missed the move down yesterday.

I'm still looking to short but will prob wait for it to drop below 2700 and hop on on a retrace back up to 2700. If it drops and doesn't retrace, never mind, I'll wait for another opportunity.

Tim
  • #6,342
  • Feb 26, 2009 7:01am Feb 26, 2009 7:01am
Quoting McQueen68
100 tsl triggered at 2800 (+25)....

going to sit & watch pa...

g/l & g/t 2 all...
short 2800 (approximate 50RT of recent 2900-2683 swing)

100tsl

g/l & g/t to all
  • #6,343
  • Feb 26, 2009 7:52am Feb 26, 2009 7:52am
Has anyone noticed the triangle forming on the eur/usd 4hr. What do yuo guys make of it?

BB
Whats happening in EUR/USD should be happening to you!
  • #6,344
  • Feb 26, 2009 7:57am Feb 26, 2009 7:57am
Quoting BullsAndBear
Has anyone noticed the triangle forming on the eur/usd 4hr. What do yuo guys make of it?

BB
I noticed it...to me it says the market is very indecisive.

I am out of the market right now, waiting for one of 2 things.

1. retrace up to 2840ish (top line of the triangle) and then I'll place a sell order @ 2800
2. a break of 2700 (already have a sell order there)
  • #6,345
  • Feb 26, 2009 9:50am Feb 26, 2009 9:50am
To the house,
using jacko's strategy, how does one know the TF to follow. for example, if the daily TF is ranging and 4 hrs TF is making higher highs/lows at least looking from from the start of a given day how can i establish the trend. Infact someone should help me figure out how to synchronize these time frames, am almost stuck in knowing which to follow and i cant even take trades anymore cause i dont know what the trend really is. may God bless anyone who has sth to offer.
Regards, Quest4pips.... Patience matters a lot here
  • #6,346
  • Feb 26, 2009 12:28pm Feb 26, 2009 12:28pm
Quoting McQueen68
short 2800 (approximate 50RT of recent 2900-2683 swing)

100tsl

g/l & g/t to all
I admire your ability/patience to get entries nicely near the top of retracements. Tell me, do you watch and enter when the price starts to move with the trend again or do you decide on a level and enter with a limit order?

I ask because I frequently enter too early fearing I will miss a good move.

Cheers
Jellybean
  • #6,347
  • Feb 26, 2009 12:51pm Feb 26, 2009 12:51pm
Quoting Jellybean
I admire your ability/patience to get entries nicely near the top of retracements. Tell me, do you watch and enter when the price starts to move with the trend again or do you decide on a level and enter with a limit order?

I ask because I frequently enter too early fearing I will miss a good move.

Cheers
Jellybean
when i'm monitoring, i'll wait for the price to settle/move with the trend again...

if i can't watch, i'll enter a limit order at the 50RT or round number...

either way, the ah method will usually make things right...

i don't freak out if i miss a move, it happens...i'll just catch another 50RT/round# entry, sometimes using a smaller tf...if i completely miss a move, no big deal, another will be there soon enough...

hope that helps...that's how i trade jacko-style...it's comfortable for me...find what works for you and have at it

g/l & g/t
  • #6,348
  • Feb 26, 2009 12:59pm Feb 26, 2009 12:59pm
Quoting Jellybean
I admire your ability/patience to get entries nicely near the top of retracements. Tell me, do you watch and enter when the price starts to move with the trend again or do you decide on a level and enter with a limit order?

I ask because I frequently enter too early fearing I will miss a good move.

Cheers
Jellybean
Wait for it to peak and then pick it up on the way down...

I usually will wait for it to move 50 pips past a strong resistance level before I jump in...

NEVER worry about missing a move, E/U always has good moves...just be patient and stick to the plan...

AND the AH will save your life...
  • #6,349
  • Feb 27, 2009 12:30am Feb 27, 2009 12:30am
McQueen & bgin3end

Thanks for your comments - both saying be patient. Don't I know it!

I can't watch enough to catch the beginnings of moves back in the direction of the trends so it'll be limit orders for me now. That'll force me to plan ahead, which is no bad thing.

Thanks again
Jellybean
  • #6,350
  • Feb 27, 2009 2:32am Feb 27, 2009 2:32am
Quoting Quest4pips
To the house,
using jacko's strategy, how does one know the TF to follow. for example, if the daily TF is ranging and 4 hrs TF is making higher highs/lows at least looking from from the start of a given day how can i establish the trend. Infact someone should help me figure out how to synchronize these time frames, am almost stuck in knowing which to follow and i cant even take trades anymore cause i dont know what the trend really is. may God bless anyone who has sth to offer.
Hi

You will tell from my posts that I'm no expert in this strategy, but the answer to your question is well desribed in post #4. In the first few posts, Jacko outlines the whole strategy. I recommend spending a few hours reading the first few pages of this thread. It was the best reading I've done for a long time.

In short, though, you choose the timeframe that you want to trade and stick to it. Jacko's strategy starts with the weekly trend, then the daily, then the 4-hr. Always trade with the major trend and don't be swayed by short term rallies. You'll notice everyone is trading short because both the weekly and the daily trends are down.

Jacko's strategy and timeframes allow plenty of time to think and plan, so it's ideal for the likes of me with full time jobs and/or learning.

Hope this helps.

Jellybean
  • #6,351
  • Feb 27, 2009 4:55am Feb 27, 2009 4:55am
Hi quest,

In my view, if you can't see a trend, then there is no trend. If you see all TFs going up, then buy when the price spikes down. If you see all TFs going down, the sell when the price spikes up. But if you see some up, some down, then stay away from trading until the stars align, or get guidance from Jacko!



Quoting Quest4pips
To the house,
using jacko's strategy, how does one know the TF to follow. for example, if the daily TF is ranging and 4 hrs TF is making higher highs/lows at least looking from from the start of a given day how can i establish the trend. Infact someone should help me figure out how to synchronize these time frames, am almost stuck in knowing which to follow and i cant even take trades anymore cause i dont know what the trend really is. may God bless anyone who has sth to offer.
  • #6,352
  • Edited 6:56am Feb 27, 2009 6:00am | Edited 6:56am
Quoting McQueen68

i don't freak out if i miss a move, it happens...i'll just catch another 50RT/round# entry, sometimes using a smaller tf...if i completely miss a move, no big deal, another will be there soon enough...

g/l & g/t
an example of this occured in the last few hours...we had a high of 2812 yesterday and then she dropped down to 2687 early in the asian session...an astute trader that missed a move may have set up a limit sell order at 2750 (round #/50RT) and picked up a position that had no draw down at all and is already guaranteed to be a green trade...

that may be more aggressive than what jacko would advise, but it has worked for me...

bottom line: trading with the trend and using jacko's ah method takes a lot of pressure off of entries...

just my 2 cents, g/l & g/t to all
  • #6,353
  • Feb 27, 2009 7:00am Feb 27, 2009 7:00am
This is truly a life changing thread.
Thanks Jacko.

1.24 in 10 days max

happy trading to you all..
Some drink at the fountain of knowledge. Others just gargle !
  • #6,354
  • Feb 27, 2009 7:11am Feb 27, 2009 7:11am
Quoting McQueen68
an example of this occured in the last few hours...we had a high of 2812 yesterday and then she dropped down to 2687 early in the asian session...an astute trader that missed a move may have set up a limit sell order at 2750 (round #/50RT) and picked up a position that had no draw down at all and is already guaranteed to be a green trade...

that may be more aggressive than what jacko would advise, but it has worked for me...

bottom line: trading with the trend and using jacko's ah method takes a lot of pressure off of entries...

just my 2...
This was pretty close to what I did. Actually there was a triangle formation on the 4hr,,,consolidation, I anticipated it would break one way or the other, bias down,,,, especially once the london session opened. I placed a sell stop well underneath the trendline to make sure when it hit me it WAS going down and it worked perfectly. However it was too late for me to watch it so I set a TP of 60 pips. If i would have road it out i would have made more. Also i was in that move from the very top yesterday and got out because of the consolidation. i am not sure if this was good common sense or still not being patient enuff to wait it out. i feel like i made the correct call given the current market.

good morning all. happy trading today
BB
Whats happening in EUR/USD should be happening to you!
  • #6,355
  • Feb 27, 2009 7:27am Feb 27, 2009 7:27am
Anyone see 2515ish as a target here? its looking weak! The core cpi and unemployment were both in the red today....

BB
Whats happening in EUR/USD should be happening to you!
  • #6,356
  • Feb 27, 2009 7:34am Feb 27, 2009 7:34am
Quoting BullsAndBear
Anyone see 2515ish as a target here? its looking weak! The core cpi and unemployment were both in the red today....

BB
I have no idea where it's going today. hahaha...Fridays seem to follow a different set of rules and we have a double whammy because it's also the end of the month.

2500 is possible, but so is 3000...so in short (no pun intended) I have no idea but I have a short position in from last night that I am going to let ride...
  • #6,357
  • Feb 27, 2009 8:24am Feb 27, 2009 8:24am
Quoting BullsAndBear
Anyone see 2515ish as a target here? its looking weak! The core cpi and unemployment were both in the red today....

BB
if anyone knew they'd be a billionaire and not posting on forexfactory...

i used to get caught up on targets using fib ext, pattern measurements and the like, and it's still fun to toss a number out here and there...but i'll just let the 100tsl take me out...besides, i've always had bad luck....everytime i'd throw out a target, the market would immediately move against my position...i don't want to jinx the shorts, so i'll shut up...
  • #6,358
  • Feb 27, 2009 9:47am Feb 27, 2009 9:47am
Quoting McQueen68
short 2800 (approximate 50RT of recent 2900-2683 swing)

100tsl

g/l & g/t to all
stopped out at 2705 (+95)

(+203 pips this week in a narrow, ranging market...not too bad)

have a good weekend everyone
  • #6,359
  • Feb 27, 2009 9:55am Feb 27, 2009 9:55am
Quoting plan-b

1.24 in 10 days max

Why?
  • #6,360
  • Feb 27, 2009 12:41pm Feb 27, 2009 12:41pm
Jellybean and W.Jen,
Thanks a lot for your replies. I was beginning to think that since my question dint make much sense compared to the tech stuffs discussed in this forum, i may not have any reply. Well thanks again. i actually had gone thru that page 4 and to tell you the truth, am using your suggestions very well. I have been dwelling on the 4hr chart for some while and am considering placing a sell stop around 1.2800 with 50 TSL hoping that the resistance will hold. i dont know am jst thinking may be am awful wrong. pls let me know
Thanks and am still a baby in this.
Quoting Jellybean
Hi

You will tell from my posts that I'm no expert in this strategy, but the answer to your question is well desribed in post #4. In the first few posts, Jacko outlines the whole strategy. I recommend spending a few hours reading the first few pages of this thread. It was the best reading I've done for a long time......




Jellybean
Regards, Quest4pips.... Patience matters a lot here
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