correct me if i have wrong. The Anti-Hedging Strategy: i only use that when i didn't take any profit?
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You are almost right. You use AH when the market goes against you and hits your SL. So not only that you didn't take any profit but lost about 100 pips.
correct me if i have wrong. The Anti-Hedging Strategy: i only use that when i didn't take any profit?
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Hi, d0MiN077.
You are correct. I know you have already read this a couple of times. Read this post another two times, then . . . if you have more questions, feel free to ask.
No offense... do you really need such complex charts to say that. If yes, I am missing something.
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No offense taken. I dont see the complexity of the chart myself. Just happens to be what i use. That is mainly what i use on a 5m, 15m setup to scalp and since i do not like pulling up additional charts i pull it out to do my 4h and daily analysis as well. Personal choice i suppose. I change setups from time to time.
bulls
Whats happening in EUR/USD should be happening to you!
You are almost right. You use AH when the market goes against you and hits your SL. So not only that you didn't take any profit but lost about 100 pips.
Hope this helps.
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yes i had 100 trailing stop. i sold at 1.31000 and i can admitthat it was hard to see price go from 1.29646 to my sl at 1.30656. but rules are rules. =)
You are correct. I know you have already read this a couple of times. Read this post another two times, then . . . if you have more questions, feel free to ask.
Jacko recommends that you trade no more than 2% of your trading capital on any one trade. But some of us have a higher risk tolerance
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It should be "expose" not "trade". You "trade" any amount but you "expose" no more than 2% (or 3%) of your trading capital on any trade to risk. Having said that, exposure to risk is controlled by your stop-loss. So, when you set your stop loss at 50 pips, the risk you are taking in that trade is (50 pips x Dollar value for each pip). I hope this helps.
Looking to re-implement shorts in here at the Fibo/resistance confluence...would be nice to see confirmatory price action.
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I think it's heading north a couple hundred pips. Maybe back to 1.33, not sure. However, I do agree . . . there is A LOT of confluence around 1.31 ever since November 2.
Indeed, 1.33 was a good initial entry but it was basically untested. Time will tell....I will likely re-enter ahead of that figure though. The 1.3090-1.3110 looks like a potential early target based on the resitance
Indeed, 1.33 was a good initial entry but it was basically untested. Time will tell....I will likely re-enter ahead of that figure though. The 1.3090-1.3110 looks like a potential early target based on the resitance
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You're right. 1.33 was basically untested. However, there is quite a bit of resistance between 1.33 and 1.34. When it hit 1.33 and then dropped, I was actually quite surprised. I would have thought it may have shot to 1.3350-ish at least.
I agree. I was hoping for an early retest of 1.33 ths week. I will probably dive in if there is some solid resitive PA at the current levels...right now there is a little stall but no overt reaction....still looking at it on the 4-8 hour window.
I agree. I was hoping for an early retest of 1.33 ths week. I will probably dive in if there is some solid resitive PA at the current levels...right now there is a little stall but no overt reaction....still looking at it on the 4-8 hour window.
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It's currently testing the spike on April 27, April 16 and a few others beyond that (IBFX data feed, H4). My guess it she is heading north for a ways. Nonetheless, as you mentioned above, only time will tell . . .
Good luck, Alexandra. You seem quite knowledgeable and I enjoy your insightful comments on this thread and on James16.
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Joined Feb 2009
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Status: Trading Made Simple K.I.S.S
|773 Posts
Hi Jacko I have a quick question I hope you or one of you group can answer. I know we should only trade with the trend, but I have noticed some of you group are trading long and short, am I missing something? Still loving this thread!
on daily I have it knocking on the door of a confluence between monthly and weekly pivots along with the 20 and 50 SMA...moving down on the H1 I have 61.8 fib/ppz area that tops out at 1.31515 thus wanting to go countertrend and perhaps take a ride up a bit I would get on at the 1.3160 level....and considering the confluence on the daily I'm seriously considering it....
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
Many thanks - mutual respect for you from this end! Looks like you are correct on the need for more retracement. No point in hopping in front of the train.
I got to ask you guys where you saw this bounce up. The daily trend is down, the overall trend is down. It looked to me like we just stopped midway and headed back up. that was unusall. Broke back thru the 4h trend line, horizontal support @ 3080 which also happened to be the daily pivot. It looked to me like we should have hit supprt3 or possibly 2800,,,bottom of the chanell.
What did i miss? fill me in,,,,,,,,,,
bulls
If anythig i see being able to sell at a higher level,,,,but i dont see how we would just buck the downtrend and head to 3300
Whats happening in EUR/USD should be happening to you!
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Joined Apr 2009
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Status: Still alive and trading
|100 Posts
In my 4H chart and 1H chart I have multiple support testings around 2980. 04-21-2009 around 04pm, also tested on 16-03-2009 12am. That was the point the pair hopped upwards... just one stop level of many of course...
also, maybe I am wrong... it's Forex...
ADD: Curently (09:21pm) the eur$ hangs around between Fib50 and my resistance line at 3150... maybe we're going south soon?
Hi Jacko I have a quick question I hope you or one of you group can answer. I know we should only trade with the trend, but I have noticed some of you group are trading long and short, am I missing something?
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Hi, bez.
I don't think you're missing anything. Some traders are much more aggressive while others are much more conservative. While the more conservative traders will wait for another retracement to the north before SELLING thus trading in the direction of the larger trend, some traders will aggressively BUY the retracement north as well; then, they will jump on the down trend ship when it begins to turn around. This method is against the larger trend, but . . . they're aggressive traders. Some are good at it while (sadly) some are not.
So, as said above, I don't think you're missing anything. But Jacko's teachings are solid. ALWAYS trade in the direction of the larger trend. By doing this, you remain safe and you're win/loss ratio is drastically altered.
I don't think you're missing anything. Some traders are much more aggressive while others are much more conservative. While the more conservative traders will wait for another retracement to the north before SELLING thus trading in the direction of the larger trend, some traders will aggressively BUY the retracement north as well; then, they will jump on the down trend ship when it begins to turn around. This method is against the larger trend, but . . . they're aggressive traders. Some are good at it while (sadly) some are not.
Jacko's Forex House of Pleasure and Pain
