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Jacko's Forex House of Pleasure and Pain

  • #6,441
  • Mar 4, 2009 3:49pm Mar 4, 2009 3:49pm
Quoting acetrader
McQueen68,

The first four words in this post reminded me of a conversation I had many yrs ago with an older gentleman who had done quite well for himself in the real estate business. He said to never fear losing & don't worry about the money, but concentrate on your business & becoming the best you can be @ the business & the money will follow. I would think that would apply to the trading business as well. Thanks for that reminder. I look forward to more of your valued posts.

__________________
AceTrader
thanks acetrader...i remember my first couple years trading...i was "that guy"...i had to find a system that had a 100% win rate because i "feared" failure and losing...i'd have a decent system, but it would lose 3 or 4 in a row and i'd start trolling the boards for another system...month in and month out...same old crap...finally, it dawned on me..."why do i feel i have to be perfect?"...if a baseball player has a 30% win rate, he becomes a millionaire hall of famer...only airplane pilots have to be 100% right!!! all i have to do is be about half right and make sure my "rights" are bigger than my "wrongs"...
  • #6,442
  • Mar 4, 2009 3:59pm Mar 4, 2009 3:59pm
McQueen68,

You are so right on & I have been there too. Was always searching for the next best method or system month after month. Good to be free of that.

______________________
  • #6,443
  • Mar 4, 2009 4:25pm Mar 4, 2009 4:25pm
In @ 1.2658 .............right around the top trend line of the H4.
Wadda ya think Jacko????

Goin past me as I write.....but not too far.
  • #6,444
  • Mar 4, 2009 5:23pm Mar 4, 2009 5:23pm
Quoting Bryan
In @ 1.2658 .............right around the top trend line of the H4.
Wadda ya think Jacko????

Goin past me as I write.....but not too far.
A five year old would say TREAD IS DOWN...

http://i44.tinypic.com/4iyhrd.gif
TRO
  • #6,445
  • Mar 5, 2009 12:42am Mar 5, 2009 12:42am
Quoting jacko
Another issue that wannabe traders should consider is this:
The "salary" has never been a truly reliable safety net....Unemployment is rising very quickly...and in the coming depths of the recession when very high unemployment will reach levels not seen since the Great Depresion, this truth will become clearer by the day.
We are seeing unemployment rising at the rate of 500,000+ per month. And another unemployment/NFP number is coming out on Friday...and it will not be pretty!!

On the other hand, once you have mastered the basic...
Bloombergs: Companies in the U.S. cut an estimated 697,000 workers in February, indicating the recession is intensifying, a private report based on payroll data showed today. The drop in the ADP Employer Services gauge was larger than economists forecast and followed a revised cut of 614,000 (up from 522,000) for the prior month.
  • #6,446
  • Mar 5, 2009 2:23am Mar 5, 2009 2:23am
Quoting jamiewhite
Bloombergs: Companies in the U.S. cut an estimated 697,000 workers in February, indicating the recession is intensifying, a private report based on payroll data showed today. The drop in the ADP Employer Services gauge was larger than economists forecast and followed a revised cut of 614,000 (up from 522,000) for the prior month.
A Recession is when your neighbour becomes one of the unemployed.
A Depression is when you becomes one of the unemployed.
  • #6,447
  • Mar 5, 2009 2:38am Mar 5, 2009 2:38am
  •  hansnl
  • | Joined May 2007 | Status: don't get shot trade small lots | 83 Posts
[quote=McQueen68;2579605]you can't trade with fear...separate yourself from the money...if your sl is hit...big deal!

Thanks for reply guys, but it is not fear of losing a 100 pips on a stop loss, its just a total different world doing this longer term trades.

I need and will reset my mindset to work out the trades as cool as you do.
sure you as well have been in that street ones.
it just take some time I suppose,
In the mean time I share my thoughts on this forum, and learn from the feedback that's all.

A+

hans..
  • #6,448
  • Mar 5, 2009 3:57am Mar 5, 2009 3:57am
at 20, I would have been too reckless and would have ignored Jacko's principles (I would need that red sports car NOW to attract the babes!).

Phonetic, with the Jacko's training and a nice startup capital, I think you could beat Buffett when you're his age!



Quoting jacko
Hi Phonetic,

You are only 20..boy, I wish that forex had been around when I was 20 !!

.
Jacko
  • #6,449
  • Mar 5, 2009 5:31am Mar 5, 2009 5:31am
wow now that would be something!

Quoting W.Jen
at 20, I would have been too reckless and would have ignored Jacko's principles (I would need that red sports car NOW to attract the babes!).

Phonetic, with the Jacko's training and a nice startup capital, I think you could beat Buffett when you're his age!
  • #6,450
  • Mar 5, 2009 8:05am Mar 5, 2009 8:05am
Look at that - this is why I keep trading, for moves like the last one.

Short from 2630 - TSL @ 2588
  • #6,451
  • Mar 5, 2009 9:09am Mar 5, 2009 9:09am
Quoting McQueen68
tsl hit...26408 (-75.8)...should've been more patient and used my plan from earlier this morning (post 6419)...

oh well...looking to set ah after she moves some more...thinkin she moves to 2725 (50RT 2992-2456)...will set up a new soldier there if it hits and pick up my dead 26408 on the way back down...

g/l & g/t to all...
will short 2573 (50RT 2664-2582) w/ 100tsl
  • #6,452
  • Mar 5, 2009 9:18am Mar 5, 2009 9:18am
Quoting McQueen68
will short 2573 (50RT 2664-2582) w/ 100tsl
Hopefully that'll work. I'm not keen for shorts until at least 1.2620-.12650 myself as it's the bigger 50% on the H4
  • #6,453
  • Mar 5, 2009 9:41am Mar 5, 2009 9:41am
Quoting dwildes
Hopefully that'll work. I'm not keen for shorts until at least 1.2620-.12650 myself as it's the bigger 50% on the H4
that would've been a great place to sell yesterday (50RT 2811-2456)...wish i would have...lol

not sure it'll go that high today...we shall see

g/l & g/t
  • #6,454
  • Mar 5, 2009 9:42am Mar 5, 2009 9:42am
Quoting McQueen68
will short 2573 (50RT 2664-2582) w/ 100tsl
in at 2573 100tsl
  • #6,455
  • Mar 5, 2009 9:42am Mar 5, 2009 9:42am
Quoting McQueen68
that would've been a great place to sell yesterday (50RT 2811-2456)...wish i would have...lol

not sure it'll go that high today...we shall see

g/l & g/t
Yep it was - and I did.
I think odds are highly probable we will make it back.
  • #6,456
  • Mar 5, 2009 9:51am Mar 5, 2009 9:51am
Quoting McQueen68
in at 2573 100tsl
im with ya at 1.2558 little late but heres hoping
  • #6,457
  • Mar 5, 2009 10:03am Mar 5, 2009 10:03am
Stop hit @ 2552 (moved closer to protect profits). Will wait for 2600 to reenter a short or if we break through 2500 with force I'll short there as well.
  • #6,458
  • Mar 5, 2009 11:31am Mar 5, 2009 11:31am
It seems to me that the market doesn`t feel comfortable with 1.24... , yet. Big players are not convinced. It needs a push, and may recieve it from another gas crysis in Europe. From where i live, there are already some idications that further problems may arise.
  • #6,459
  • Mar 5, 2009 12:32pm Mar 5, 2009 12:32pm
Quoting McQueen68
in at 2573 100tsl
You sure pick the pullbacks well.

I'm staying out for ths one - how's that for someone who's usually too quick I'm looking at the daily trend and see this pullback too low in the channel for a good run. Also, the last move didn't make a lower low on the 4-hr chart, so I think there's a good chance of a pullback to around 1.2720.

I'll watch and learn.

Cheers
Jellybean.
  • #6,460
  • Mar 5, 2009 1:20pm Mar 5, 2009 1:20pm
Quoting Money4Nothing
A five year old would say TREAD IS DOWN...

http://i44.tinypic.com/4iyhrd.gif
Being a newbie, M4N I'am a five year old......maybe seven.
Anyway, that being the case, I'll take your remark as a compliment. Thanks.
And thanks to Jacko. Please excuse me for stating the obvious. From here on out, I'll try to keep my newbie excitement to myself.
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