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Hello Guys is a pleasure to be here. I'm new to MT4 1 reply

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Jacko's Forex House of Pleasure and Pain

  • #7,181
  • Quote
  • Edited Apr 25, 2009 3:39pm Apr 24, 2009 11:33pm | Edited Apr 25, 2009 3:39pm
*edit* I got my personal question answered, thank you!
Don't know if this will help, but I find this a good way to draw and visualize the fibs without a lot of clutter. Once they are drawn, i just edit the 50% point each day to move it forward as the chart advances. Still learning about fibs, so i may not have drawn them correctly.

Hope this helps someone,

Cheers
Attached Image (click to enlarge)
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Continuous periods of Total Misunderstanding followed by Complete Confusion
Here is a 1 hour chart with the same fibs.

Cheers
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Continuous periods of Total Misunderstanding followed by Complete Confusion
  • #7,184
  • Quote
  • Apr 25, 2009 11:39pm Apr 25, 2009 11:39pm
Quoting ClueLess
Here is a 1 hour chart with the same fibs.

Cheers
Nice chart there, could you share what did you use to draw those triangles?
Quoting ClueLess
Don't know if this will help, but I find this a good way to draw and visualize the fibs without a lot of clutter. Once they are drawn, i just edit the 50% point each day to move it forward as the chart advances. Still learning about fibs, so i may not have drawn them correctly.

Hope this helps someone,

Cheers
Interesting Idea, very creative.
Don't wish it were easier, wish you were better. ~ Jim Rohn
Quote
Nice chart there, could you share what did you use to draw those triangles?

These were done on Metatrader.

I use the fib tool first then set the points of the triangles over the fib points using the "Insert" menu, "Shapes" --> Triangles.

Very easy to do, please feel free to email me if you need help with it.

Quote
LasVahGoose
Interesting Idea,
ty

Cheers
Continuous periods of Total Misunderstanding followed by Complete Confusion
  • #7,187
  • Quote
  • Apr 26, 2009 11:38am Apr 26, 2009 11:38am
hi everybody!

i hope someone can help me i have read jackos system and he says that he looks 300 bars back to decide if it is a uptrend or a downtrend. iam on daily and if i look 300 backwards i see a downtrend but if i look w1 is it big uptrend with several touches on support line. which of them are the maintrend? i want to trade with the trend tomorrow =)
decide the timeframe you want to trade in then take it from there.
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
Quoting d0MiN077
iam on daily and if i look 300 backwards i see a downtrend but if i look w1 is it big uptrend with several touches on support line. which of them are the maintrend?
Good question.

Daily down trend is still intact, however current reaction rally seems to be going up either to test the resistance or break it, who knows!.

If you are going to trade smaller timeframes e.g. 4H, then this is only a useful guideline info. And let's say if you are trading 4H, then draw your trend lines there. These lines will have more validity in terms of determining the trend.

Trend is a function of the timeframe you trade.
As noted last week in discussing the Loonie relevance to a possible EURUSD buying spree, the large weekly/daily pennant on USDCHF likley bears on the short case for EURUSD. (no pun intended).
Quoting fxtrader29
I appreciate the public compliment. Btw, I am long at 1.2950 and 1.3000. I was going to add more at 1.3050 but saw the % risk was getting too high. Lets hope that your target price is struck. And YES I have SL under both trades.

Regards
Made terrific profits from these two winners.
Then had a small loss on a short, but anti-hedge trade has now turned that loss into a winner too.
I am stacking my winnings up.
Quoting Numerovi
Jacko is correct, this is truly a thinking man's game. This is not like sales or other professions. In sales, you can dig your way out of a jam with activity, in trading, you'll just dig your own grave. A few well placed trades that have a high probability of success is all you need to succeed.
.
Good words
I second that wholeheartedly....
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
I posted this on another thread, Strats LTSFT, but decided to put it here for neatness.
I have joined jackos group and have been folllowing his market targets. As you said above, he is terrifically accurate and I am one of the traders taking his trades up and down to the entry points jacko was looking for.
I am doing that because I noticed when I was doing my spreadsheets, that if I followed where he said the market was going, I could have more trades and they were winning trades.
The reason I am impressed with the jacko system is that he has proven that the can make big winners in both trending markets and nontrending cataclysmic markets.
A trader who is a trend trader who can make also thousands of pips of profits in the cataclysmic markets that have been collapsing since July 2008 is an out of the box trader.
Most of the bankers who are trooping into my office trying flog their products are showing losses of 20-50% in the last 12 months
I am only a new trader, but I am taking this opportunity very seriously,



Here are my wins and losses.
My first trade I won 120 pips.
http://www.forexfactory.com/showpost.php?p=2670743&postcount=7019 (http://www.forexfactory.com/showpost.php?p=2670743&postcount=7019)
http://www.forexfactory.com/showpost.php?p=2672105&postcount=7029 (http://www.forexfactory.com/showpost.php?p=2672105&postcount=7029)

Second and third trades I won 150 and 100 pips, both closed at 1.3150
http://www.forexfactory.com/showpost.php?p=2690750&postcount=7145 (http://www.forexfactory.com/showpost.php?p=2690750&postcount=7145)

Fourth trade I lost 67 pips. Short at 1.3150 but trailing stop loss closed the trade at 1.3212.

Fifth trade I won all the pips back from fourth trade with anti-hedge short at 1.3212 and now deep in the green. The Euro is 1,3133 now so I am winning 79 pips.

Total tally since I joined jacko is 382 pips at $20 a pip, I am $7640 in the green in under two weeks. I am stacking my winnings up. Lets go Jacko
Quoting fxtrader29
Here are my wins and losses.
My first trade I won 120 pips.
http://www.forexfactory.com/showpost.php?p=2670743&postcount=7019 (http://www.forexfactory.com/showpost.php?p=2670743&postcount=7019)
http://www.forexfactory.com/showpost.php?p=2672105&postcount=7029 (http://www.forexfactory.com/showpost.php?p=2672105&postcount=7029)

Second and third trades I won 150 and 100 pips, both closed at 1.3150
http://www.forexfactory.com/showpost.php?p=2690750&postcount=7145 (http://www.forexfactory.com/showpost.php?p=2690750&postcount=7145)...
Keep going fxtrader.Thats the way it should be.
The price is now 1,3122, Add another $220 to the tally.
I am going for your short term targets jacko.
Stack those dollars up
1.3110 is touched. Give me another $240
Stack those dollars up
Hi fxtrader 29.

I just heard that there was a bit of noise in here so I thought I had better see what was happening.
Good to see you are going well, . You are not the usual quiet introverted accountant are you?

.
Jacko
Quoting jacko
Hi fxtrader 29.

I just heard that there was a bit of noise in here so I thought I had better see what was happening.
Good to see you are going well, . You are not the usual quiet introverted accountant are you?

.
Jacko
No.
Just bought them all back.
Thanks a million
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