Jacko's Forex House of Pleasure and Pain | Page 325 | Forex Factory

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Jacko's Forex House of Pleasure and Pain

  • #6,481
  • Mar 6, 2009 7:02am Mar 6, 2009 7:02am
Hi Jacko,
Thanks for the reply.
  • #6,482
  • Mar 6, 2009 7:02am Mar 6, 2009 7:02am
Quoting bgin2end
I read this as the market is dropping, THANKS ...

I know it was a gamble so no, I am not upset. I understand the fade theory and I usually stick to it pretty well but I got excited seeing that quick bull move and I like to get in at the "top" if I can...

What am I looking for now, a retrace to 2700 after the NFP or a sustained break of 2600?
I completely understand.
But it's only come down maybe 30 pips right now. I've seen these things head-fake one way for 50pips, then blast the opposite direction 200pips.

The allure of easy money will tempt anyone - I've traded the NFP as well, sometimes I got it right, other times got it wrong. In the end though - it's just a gamble.

Keep the powder dry for the better setups, it's better for the psyche as well as you are keeping to your discipline.
  • #6,483
  • Mar 6, 2009 7:04am Mar 6, 2009 7:04am
Quoting dwildes
I completely understand.
But it's only come down maybe 30 pips right now. I've seen these things head-fake one way for 50pips, then blast the opposite direction 200pips.

The allure of easy money will tempt anyone - I've traded the NFP as well, sometimes I got it right, other times got it wrong. In the end though - it's just a gamble.

Keep the powder dry for the better setups, it's better for the psyche as well as you are keeping to your discipline.

Couldn't agree more...how has no one vouched for you yet?? Good advice and a seemingly good head on your shoulders.

Will be watching closely - even if I am late for work...
  • #6,484
  • Mar 6, 2009 7:11am Mar 6, 2009 7:11am
Quoting bgin2end
Couldn't agree more...how has no one vouched for you yet?? Good advice and a seemingly good head on your shoulders.

Will be watching closely - even if I am late for work...
Thanks for the compliments.
Personally - I'd rather stay under the radar and be under estimated.

If you want some fun - just watch the E/U thread before/during/after the NFP. Like a bunch of chickens with their heads cut off... *hahaha*
  • #6,485
  • Mar 6, 2009 7:16am Mar 6, 2009 7:16am
Quoting dwildes
Thanks for the compliments.
Personally - I'd rather stay under the radar and be under estimated.

If you want some fun - just watch the E/U thread before/during/after the NFP. Like a bunch of chickens with their heads cut off... *hahaha*

I know, hahaha - I used to do the same thing...until I realized that most of those guys don't really post anything of significance....

I read it, but I am done contributing...I keep my writing for here.
  • #6,486
  • Mar 6, 2009 8:39am Mar 6, 2009 8:39am
From 1.2500 to 1.2700 within 24 hours.

What was the reasoning for going long when the trend was saying look for short?
  • #6,487
  • Mar 6, 2009 9:02am Mar 6, 2009 9:02am
Quoting msc
From 1.2500 to 1.2700 within 24 hours.

What was the reasoning for going long when the trend was saying look for short?
The market is built on support and resistance. When there is a failure to break them then they run the other direction........to the other support or resistance. When in a tight trading range as we are - It happens.
  • #6,488
  • Mar 6, 2009 9:28am Mar 6, 2009 9:28am
Entered short at 1.2750 which i suspect was the only good trade today-currently at +58
many dead soldiers which i hope will be picked up on the way down
Some drink at the fountain of knowledge. Others just gargle !
  • #6,489
  • Mar 6, 2009 9:44am Mar 6, 2009 9:44am
Quoting plan-b
Entered short at 1.2750 which i suspect was the only good trade today-currently at +58
many dead soldiers which i hope will be picked up on the way down
Excellent entry!
Anything under 1.2620 wasn't the time for shorts since we hadn't touched the upper line of the TL on the H4. And that would be an aggressive entry.

I wish I was there with you - I forgot to turn my speakers on this morning and didn't hear my computer screaming at me to short at 1.2750 from my price alert. I could have sworn I had turned them on, but was pre-occupied with making coffee & etc...

I could be wrong, but it doesn't look like the up move is finished yet. On the H1s, you can see an ascending TL that all the bar lows have obeyed. Until a break & close under 1.2650 happens, I would monitor it closely, if not get that stop to B/E. Capital preservation is #1, you can always re-enter, but it's hard to get back lost money.
  • #6,490
  • Mar 6, 2009 11:22am Mar 6, 2009 11:22am
I shorted at 1.2720 (50RT of last weeks high to this weeks low). Worked out nicely. Exited position at 1.2660, as I did not like PA around this level. I still think it's going to move down to 1.25 area, but I decided to bank profits into the weekend and will see if I can get another entry around or above 1.27 area.

Have a great weekend everyone.... and thanks a million Jacko.... you rock!
Addicted and proud of it!
  • #6,491
  • Mar 6, 2009 11:38am Mar 6, 2009 11:38am
Quoting c49ermoose
I came across this (http://www.forexfactory.com/showthread.php?p=1489459&highlight=jacko+300+bars#post1489459) while reading this book - er - thread.

Seems 300 bars was a consensus at one point?

Hope this helps...

Good luck and thanks to all for the good information provided here.

Moose

Using 300 bars...

http://i42.tinypic.com/2eggn6s.gif


http://i44.tinypic.com/2znraeq.gif


Hmmm.......
TRO
  • #6,492
  • Mar 6, 2009 8:31pm Mar 6, 2009 8:31pm
Thank you, Mr. Jackson, for your calming influence. I know some traders are discussing a new global monetary system with fixed rates . . . meaning, no exchanging of currencies. This, obviously, makes little sense in the current world we live in; however, the current world we live in could be seeing some drastic changes coming sooner than later.

Nonetheless, thank you, Mr. Jackson, for you optimism and foresight. You're a great example!
  • #6,493
  • Mar 6, 2009 9:46pm Mar 6, 2009 9:46pm
Finished my best week in a while (+128 pips) with gratitude to Jacko for the method and McQueen for the calming advice during the week.

Looking forward to learning more next week.

Cheers
Jellybean
  • #6,494
  • Mar 7, 2009 1:39pm Mar 7, 2009 1:39pm
Quoting Jellybean
Finished my best week in a while (+128 pips) with gratitude to Jacko for the method and McQueen for the calming advice during the week.

Looking forward to learning more next week.

Cheers
Jellybean
Well done.
  • #6,495
  • Mar 8, 2009 1:00am Mar 8, 2009 1:00am
Quoting msc
From 1.2500 to 1.2700 within 24 hours.

What was the reasoning for going long when the trend was saying look for short?
Because Jacko said that on thusday and friday it wold go up to 1.2750. his grip of the market is uncanny.
  • #6,496
  • Mar 8, 2009 10:09am Mar 8, 2009 10:09am
Quoting newbietrader101
Because Jacko said that on thusday and friday it wold go up to 1.2750. his grip of the market is uncanny.
Actually jackos strategy indicates we wait for the correct pullback which is around the 50% fib instead of picking tops or bottoms. Jacko is remarkable with the market but even he doesnt try to ride up from the bottom. He plays the trend only. Just a point you may want to consider but good luck on your trading

bulls
Whats happening in EUR/USD should be happening to you!
  • #6,497
  • Mar 9, 2009 1:28pm Mar 9, 2009 1:28pm
Just seen a 50% RT of a fall from 1.2754 - 1.2555, but missed the top. Now I exercise extreme discipline and don't enter in a hurry, but instead place a limit sell at 1.2650 (hoping for another test of the level).
Sorry for boring you guys, but if I don't say it, it's too easy for me to jump in late. For me self-discipline really is the hardest part of this.

Cheers
Jellybean
  • #6,498
  • Mar 9, 2009 1:43pm Mar 9, 2009 1:43pm
Maybe you should start a journal.
  • #6,499
  • Mar 9, 2009 2:07pm Mar 9, 2009 2:07pm
Hey guys I'm new here, but great thread. I love the principles behind this strategy, still full of questions. Went through most of the thread here so far. Wondering if someone could help me get on the right track?

I have my fibs drawn from the high of 1.27497 to the low of 1.25566 on EURUSD. The most currrent candle has breached up through my 50% fib level which is also the 1.2650 level (approx.) as well. Should I be looking for a retracement down to 1.2600 and maybe 1.2500 or am I on the wrong side of the market and should be looking for price to shoot up through the 1.2650 level?

Analysis shows that the market is in an overall downtrend, but could be making a turn. Some help on this is greatly appreciated. Thanks Jacko for the introduction to this strategy!
  • #6,500
  • Mar 9, 2009 2:28pm Mar 9, 2009 2:28pm
Looks like there may be some green on the horizon.

http://i42.tinypic.com/2hnbcxw.gif
TRO
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