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Jacko's Forex House of Pleasure and Pain

  • #7,081
  • Apr 17, 2009 2:50pm Apr 17, 2009 2:50pm
Quoting DanUK
That's correct - it is a 100 pip trailing stop loss. I understand that the anti-hedge strategy is then applied if you get stopped out and price continues to move a further 50 - 100 pips beyond your stop loss.

Dan

That's what I understand as well.
  • #7,082
  • Apr 17, 2009 2:55pm Apr 17, 2009 2:55pm
little detail...you must be trading with the trend...which is what will save you...

been there...done that...

does it ALWAYS work? not in my experience...but it's a formidable weapon to have nonetheless....

anycase again thanks to those wishing to save my trading soul and protect a small amount of my money......I feel much safer now....
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #7,083
  • Apr 18, 2009 2:31am Apr 18, 2009 2:31am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting psneto
Hey guys,

Are my TL correct? if yes, I'm looking for short around 1.3100-1.3150?

thanks!
Hi
I tried to edit your picture, but my software won't run. your TL seem ok - can't see how far back they go or what TF they were from, the only thing i see as an issue is your swing high, for me it would be down a level to the next swing point - which would also be the last 50% retrace on the swing hi/low.

Also i would look to the Daily and 4h charts, the 1h tends to bounce around to much for me - produces more trades and more stress without any real gain in pips - just my view.

sorry for the lack of image, hope you get my point

MPP
  • #7,084
  • Apr 18, 2009 2:52am Apr 18, 2009 2:52am
Quoting DanUK
Fxtrader29,

I mean this without any disrespect (to you, Jacko or James16) but if you are already trading successfully with Jacko's method, especially as a member of his private group, why would you join another trading group?

I would have thought you would do better to invest more time into your current trading strategy (i.e. the Jacko method) and become an expert in it, just as Wayne is.

[color=black]By the way - I'm not suggesting the J16 way is wrong (it is a great way to trade),...

having already done the same my question would be...why not? Understanding price action and learning how to read it like a book (basis for J16, Strat, Clockwork) and integrating that knowledge with what Wayne teaches - Trend, round numbers (privy to J16 and Strat as well btw) .50 fib lines and the AH strategy along with BRV's No Brainer Trades (major area's of support and resistance - PPZ's in J16) and having even another weapon available (IF so desired) in some MA's that can be used (J16 and Strat) to further confirm S/R area's...gives one a far wider view of what can be going on....akin to getting on top of a 500 foot tower and observing instead of being on top of a 100 foot one....

Everyone I cited is successful - the difference lies only in the possible amount of trades taken over a given time frame and the sizing of the trades they take - Jacko being - to my knowledge - the largest - so why not try to learn as much as possible from each one? I then integrate what I learn into MY own method of trading.

but each of the traders I have mentioned has his own thread - thus from here on I will do my best to get back on track and discuss only Jacko's method.

just my .02
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #7,085
  • Apr 18, 2009 8:25am Apr 18, 2009 8:25am
Hi!

I'm trying to set my trading targets for the next week.
Next week i will be short on EUR/USD.
I have set 2 target areas.
1.2880 and 1.2500.
I hope that next week we will reach 2880. As i understand theory says that price usually come back and retest support/ressistance lines so at it is possible that we will see retrace to 1.3100. Then i hope that i will be able to open my short position and wait for the 1.2880 price level.

That's my contemplation for the next week. I would be very grateful for good advices

Have a good weekend.
Attached Image (click to enlarge)
Click to Enlarge Name: eur.usd3.gif Size: 14 KB
  • #7,086
  • Apr 18, 2009 8:43am Apr 18, 2009 8:43am
Well, it might not hit 2880 next week, it took 3 weeks to get to the low 3025 area, and 3000 still hasn't been hit/broken.

I hope for a retrace at or above 3200 which I think would be a sell opportunity.

We see where it's going, so the main concern is getting a good sell price.




Quoting ealas
Hi!

I'm trying to set my trading targets for the next week.
Next week i will be short on EUR/USD.
I have set 2 target areas.
1.2880 and 1.2500.
I hope that next week we will reach 2880. As i understand theory says that price usually come back and retest support/ressistance lines so at it is possible that we will see retrace to 1.3100. Then i hope that i will be able to open my short position and wait for the 1.2880 price level.

That's my contemplation for the next week. I would be very grateful for good advices

Have a good weekend.
  • #7,087
  • Apr 18, 2009 10:25am Apr 18, 2009 10:25am
Quoting ealas
Hi!

I'm trying to set my trading targets for the next week.
Next week i will be short on EUR/USD.
I have set 2 target areas.
1.2880 and 1.2500.
I hope that next week we will reach 2880. As i understand theory says that price usually come back and retest support/ressistance lines so at it is possible that we will see retrace to 1.3100. Then i hope that i will be able to open my short position and wait for the 1.2880 price level.

That's my contemplation for the next week. I would be very grateful for good advices

Have a good weekend.
Hi ealas,

Based on the way the week ended - and assuming that next week price starts to retrace; then I will be looking at 1.3200 to get in short.

Chart attached. Hope it helps!

Regards,
Dan
Attached Image (click to enlarge)
Click to Enlarge Name: EUR_USD_2009-04-18_0008.png Size: 36 KB
  • #7,088
  • Apr 18, 2009 10:43am Apr 18, 2009 10:43am
trader_john, DanUK thanks for your insight!
  • #7,089
  • Apr 18, 2009 6:02pm Apr 18, 2009 6:02pm
It's not hard to figure out. It's all explained on the first page of the thread.

Quoting fxtrader29
And if you think that I am going to give YOU access to Jacko's trades, you must be retarded. or a little boy who plays with himself, sorry, with his DEMO.
  • #7,090
  • Apr 19, 2009 11:16am Apr 19, 2009 11:16am
what dan said.... short at 1.3200 looks good.

This could be a big move I think.. I only see support around 1.2500? anyone else.

All we need is the markets to tank a little this week, driving some more strength in the "safe" dollar...could be epic
  • #7,091
  • Apr 19, 2009 4:41pm Apr 19, 2009 4:41pm
Quoting bluehorizon
what dan said.... short at 1.3200 looks good.

This could be a big move I think.. I only see support around 1.2500? anyone else.

All we need is the markets to tank a little this week, driving some more strength in the "safe" dollar...could be epic
well oil just hit over $50 and people are rallying behind that, I was thinking 1.32 but it might actually fall short of that
  • #7,092
  • Apr 20, 2009 1:17am Apr 20, 2009 1:17am
Quoting ttradr
it Used to be, lately its filling up with useless comments that have no educational value for those trying to learn ..."I imade 100 + pips did you get in on that?"
The first page is gold and if you speed read the other posts you can see real value here. Same with the James chart forum. The same with most forums I guess. Read the good stuff, and move over the fluff.
  • #7,093
  • Apr 20, 2009 1:55am Apr 20, 2009 1:55am
I have just spent the last 4 days reading this thread, and I can truly say that I am very impressed! Everyone here is great and you are all doing a terrific job with this thread, and with your grasp of the method as well as the trading. Awesome !!

I have never seen so much respect for one individual expressed on any forum as I have seen here, truly astounding.

After reading this entire thread I can certainly understand, the respect displayed for Jacko is truly earned.

What I find even more amazing is the respect among the various members of this thread toward each other and those who have just joined.
I have learned through the years that not all people learn at the same pace, and everyone here has shown a willingness to accept that and work with those who are still in the early stages of learning.

Reading this thread has been a truly enlightening experience, and every participant deserves a well earned "GREAT JOB and THANK YOU".

To Jacko, and everyone else, thank you all for being so willing to share what you know with others and for your patience and understanding of those who are at the beginning of their journey.

I will be here every day learning and enjoying all the members and their views.

Thank You ALL

Sincerely
Continuous periods of Total Misunderstanding followed by Complete Confusion
  • #7,094
  • Apr 20, 2009 4:32am Apr 20, 2009 4:32am
Quoting simoncs
Now that's gold!!!

Now finished the thread and aim to backtest to get more comfortable with this and the AH method - however (unsurprisingly, due to my impatient nature) I did take a couple of very small fwd test trades on 4hr tf

sell @ 1.3145 after price stalled at the 1.3150 (which also was the 365ema and may have been the reason for the stalling)

sell @ 1.3080 when price broke the previous low of 10/4 and the 1.31 rnd number.

1st trade at BE and 110 in profit
2nd trade up 45pips

i think price might stall at 1.3030 which is the highs...

Target hit at 1.295 so out.
I appreciate that i should be letting the stop take me out but as this was the first trade and i have not completed my backtesting i decided not to be greedy and take profit.
1st trade 175 pips 2nd trade 110pips
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 25 KB
  • #7,095
  • Apr 20, 2009 1:17pm Apr 20, 2009 1:17pm
I don't want to hurry but as i understand the retracement is comming to town.
Attached Image (click to enlarge)
Click to Enlarge Name: eur.usd3.gif Size: 13 KB
  • #7,096
  • Apr 20, 2009 1:24pm Apr 20, 2009 1:24pm
I don't have that pb on my h4 feed....however it would appear a retrace is in the making..we'll see...
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #7,097
  • Apr 20, 2009 3:29pm Apr 20, 2009 3:29pm
congrats on your trades!

They worked this time as the market has dived, without a retracement, if we had a retracement your 1.3080 would not of been a good sell price.

But hey, it worked this time, so enjoy!


Quoting simoncs
Target hit at 1.295 so out.
I appreciate that i should be letting the stop take me out but as this was the first trade and i have not completed my backtesting i decided not to be greedy and take profit.
1st trade 175 pips 2nd trade 110pips
  • #7,098
  • Apr 20, 2009 8:36pm Apr 20, 2009 8:36pm
I have that same PB on the USDCHF 4 hour chart; my concern is that the price action on the daily looks a bit flaggish - more so than that of the EURUSD chart. The weekly/monthlies look more constructive, however.
  • #7,099
  • Apr 20, 2009 8:57pm Apr 20, 2009 8:57pm
For a day trader, I confess that I am beginning to enjoy the easy trade strategy that Jacko presented.
I began last week and not bad as an easy way to make $ while I sleep..
so far...
300 pips and counting...
this is really a layback way of collecting pips...
Thanks Jacko..

What I do?
1. PA trend from weekly and daily
2. 4H entry
3. Trail stop @ 100 pips to failure
4. if fail entry, set order limit for the retrace @ 50 pips

Good luck to all.
Empty as water and soft as a facing wind mountain
  • #7,100
  • Apr 20, 2009 9:01pm Apr 20, 2009 9:01pm
Quoting luSan
For a day trader, I confess that I am beginning to enjoy the easy trade strategy that Jacko presented.
I began last week and not bad as an easy way to make $ while I sleep..
so far...
300 pips and counting...
this is really a layback way of collecting pips...
Thanks Jacko..

What I do?
1. PA trend from weekly and daily
2. 4H entry
3. Trail stop @ 100 pips to failure
4. if fail entry, set order limit for the retrace @ 50 pips

Good luck to all.
Hi luSan,

could you share your charts?
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