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Jacko's Forex House of Pleasure and Pain

  • #7,441
  • May 4, 2009 2:33pm May 4, 2009 2:33pm
I just started reading through the meat of this thread. Thanks to Jacko.
I look forward to reading how others more experienced with Jacko's strategies are using them in real time.

Can anyone explain further the anti-hedging strategy that Jacko talked about way early in the thread?

Thanks
  • #7,442
  • May 4, 2009 2:42pm May 4, 2009 2:42pm
what is it your unclear about?
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #7,443
  • May 4, 2009 2:45pm May 4, 2009 2:45pm
If a trade goes against you, and you let it go through a stop loss of say 40 to 50 pips...after the price goes further against atleast 30 or 40 pips, do you enter the trend as price returns to the stop loss point, or at the point that the trend changes?
  • #7,444
  • May 4, 2009 2:48pm May 4, 2009 2:48pm
Quoting JOBray
If a trade goes against you, and you let it go through a stop loss of say 40 to 50 pips...after the price goes further against atleast 30 or 40 pips, do you enter the trend as price returns to the stop loss point, or at the point that the trend changes?

ok rule is..it has to go past your stop loss by at least 50 pips..and yes you reenter at exactly the same price you were stopped out


all of this providing you are trading with the trend and not against it.
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #7,445
  • May 4, 2009 2:55pm May 4, 2009 2:55pm
This is kind of a common sense strategy to get back pips after a loss. Thanks for the help.
  • #7,446
  • May 4, 2009 2:57pm May 4, 2009 2:57pm
Quoting JOBray
I just started reading through the meat of this thread. Thanks to Jacko.
I look forward to reading how others more experienced with Jacko's strategies are using them in real time.

Can anyone explain further the anti-hedging strategy that Jacko talked about way early in the thread?

Thanks
EXAMPLE: You buy into an uptrend at 1.5000, it goes down to 50 past your stop loss(1.4900), so 1.4850. Then when it goes back to your stop loss (1.4900) you buy it again.

Unless the trend changes or you messed up the only thing you end up losing is your spread.
  • #7,447
  • May 4, 2009 2:57pm May 4, 2009 2:57pm
thank Jacko..he came up with this simple yet brilliant (imho) idea...
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #7,448
  • May 4, 2009 3:02pm May 4, 2009 3:02pm
Quoting GriffCo
EXAMPLE: You buy into an uptrend at 1.5000, it goes down to 50 past your stop loss(1.4900), so 1.4850. Then when it goes back to your stop loss (1.4900) you buy it again.

Unless the trend changes or you messed up the only thing you end up losing is your spread.

I appreciate this. Thanks for the example.
  • #7,449
  • May 4, 2009 5:17pm May 4, 2009 5:17pm
I just came from work and checked the charts:
What a day!

 

  1. 4H shows a strong north move.
  2. 1D broke through is also going north.
  3. 1W is at the fence - just a pulback?

What to do?
To wait or to sell the dollar?
I think I will sell on the next pull back and return.
Maybe at about 1.3300 or 1.3350
If it does not happens...then c'est la vie.

Empty as water and soft as a facing wind mountain
  • #7,450
  • May 4, 2009 9:17pm May 4, 2009 9:17pm
So from what I've seen there's a lot of talk about the rally. (stocks that is).

Now some experts are saying that we can't go at 2% everyday, others are wildly optimistic. I think the fact that people keep talking about a rally is going to create one anyway. Driving up the dollar.
  • #7,451
  • May 4, 2009 9:52pm May 4, 2009 9:52pm
Any one got charts to compare this week? my analysis say Short but then I contradict it with long when i look up daily FX lol

what are u thoughts currentley going long at 1.3410
  • #7,452
  • May 5, 2009 12:26am May 5, 2009 12:26am
Quoting IliaM
Any one got charts to compare this week? my analysis say Short but then I contradict it with long when i look up daily FX lol

what are u thoughts currentley going long at 1.3410
i went short and got burned, im tempted to stay out atm, im really having trouble identifying the trend
Grabbing the bull by the horns!
  • #7,453
  • May 5, 2009 1:11am May 5, 2009 1:11am
Quoting luSan
I just came from work and checked the charts:
What a day!

 

  1. 4H shows a strong north move.
  2. 1D broke through is also going north.
  3. 1W is at the fence - just a pulback?

What to do?
To wait or to sell the dollar?
I think I will sell on the next pull back and return.
Maybe at about 1.3300 or 1.3350
If it does not happens...then c'est la vie.

I have the same problem. I can't decide whether we are going up or down. I think i will wait more.

Mayby Jack'o could help us answering how to say if trend is broken or is it a false movement. Mayby we should look more at fundamentals?
  • #7,454
  • May 5, 2009 1:40am May 5, 2009 1:40am
Quoting ealas
I have the same problem. I can't decide whether we are going up or down. I think i will wait more.

Mayby Jack'o could help us answering how to say if trend is broken or is it a false movement. Mayby we should look more at fundamentals?
well fundamentally expect a weakening US dollar as they are printing money like no tomorrow?

however isnt there an issue with demand for govt securities, falsely propping up the US dollar?
Grabbing the bull by the horns!
  • #7,455
  • May 5, 2009 1:43am May 5, 2009 1:43am
I agree were in sort of no man's land atm...I managed to pull off a 20 pip scalp (very tight tsl) short from around 1.340 but right now...dunno...it could go either way...need to wait for London.
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #7,456
  • May 5, 2009 1:43am May 5, 2009 1:43am
Jacko is sitting on his hands at the moment, waiting to see if this thing uses the TL as support or if it breaks down through it again... the guy has patience to be envied.


Quoting ealas
I have the same problem. I can't decide whether we are going up or down. I think i will wait more.

Mayby Jack'o could help us answering how to say if trend is broken or is it a false movement. Mayby we should look more at fundamentals?
  • #7,457
  • May 5, 2009 1:45am May 5, 2009 1:45am
Quoting whitegoodman
i went short and got burned, im tempted to stay out atm, im really having trouble identifying the trend
I went short yesterday and earned 80 PIPs. I am short now again from 3380 because it reached resistance at latest upwards trendline and fights against 3400 which seems to be lost.
But Trend generally seems to be upwards. There is also an upper resistance from daily chart which may bring it down again...

We had two triangles last week, one in H4, one in D1 and D1 is still active... at least on my charts...

So I am trading against the Trend and with the Trend currently. It is better to have more than just one plan to trade Forex, isn't it?

For the rules of Jacko it'll be better to stay out until a new trend was established, but I am still learning and using very small lot sizes... so nothing to lose here... 20 PIPs positive from 3380 till now...
  • #7,458
  • May 5, 2009 2:26am May 5, 2009 2:26am
what makes me wary is the amount of support it has to break on the way down - at least to the 3200 level on my H4 chart - hopefully our friends in London will help...either way I'm just waiting for a clearer direction...
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #7,459
  • Edited 7:19am May 5, 2009 2:47am | Edited 7:19am
I entered this trade at a slightly worse position than Jacko, and then ran a slightly wider stop in order to 'harmonize' with his position. I then went to bed and didn't move my s/l, so more through luck than judgment I'm still on this one, though the "is it support or is it resistance" question is giving me the jitters a little!

Edit: closed for a loss of -40 pips.
  • #7,460
  • May 5, 2009 3:36am May 5, 2009 3:36am
Yesterday, I OP for short at 3300, moved stop lost to breakeven and takes some profits. Then, my AH kick off after stop lost triggered at 3300.

Hmmmm...... should I remove my current sell stop and wait for clear direction or ....let it be there to see the end of my AH result....

.....still thinking
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