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Jacko's Forex House of Pleasure and Pain

  • #8,141
  • Jun 14, 2009 9:19pm Jun 14, 2009 9:19pm
Quoting fxtrader29
I had a quiet week last week. <I was busy trying to poach 6 accountants from a competitor business to start a new office>. I missed Jackos early trades in the week but sold late in the week at 4100 and I am still holding.
I might start posting more of my trades here if that is alright. I want to keep a journal of my trades. Or should I start a different posting.
I am interested in seeing your trades. HAs jacko been a good trainer for you or are you doing your own trades?
  • #8,142
  • Jun 14, 2009 10:09pm Jun 14, 2009 10:09pm
fx,

Your sell at 4100, since the trend is long what prompted you to sell at that level?
  • #8,143
  • Jun 15, 2009 12:39am Jun 15, 2009 12:39am
Quoting msc
fx,

Your sell at 4100, since the trend is long what prompted you to sell at that level?
Maybe he was looking at 4H chart. I would like to see his continuation.
  • #8,144
  • Jun 15, 2009 1:19am Jun 15, 2009 1:19am
Quoting fxtrader29
I had a quiet week last week. <I was busy trying to poach 6 accountants from a competitor business to start a new office>. I missed Jackos early trades in the week but sold late in the week at 4100 and I am still holding.
I might start posting more of my trades here if that is alright. I want to keep a journal of my trades. Or should I start a different posting.
Bought back at 1.3900 ten minutes ago at 4.10pm Australia time. 200 pips profit with 2 normal lots. I was not going to be greedy
  • #8,145
  • Jun 15, 2009 1:30am Jun 15, 2009 1:30am
Quoting kenkomo
I am interested in seeing your trades. HAs jacko been a good trainer for you or are you doing your own trades?
I will put them here when I have time. I have another <accounting> business to run which is the main part of my life.
Jacko is a sensational mentor to me. I am doing my own trades but they are founded on where Wayne is pointing the directions. and I am beginning to understand his strategy and trading patterns more now,and can pre-empt his directions on his blog some of the time. When I can do it all the time, I will be ecstatic.
Read the first page of this thread. It is gold
  • #8,146
  • Jun 15, 2009 1:32am Jun 15, 2009 1:32am
I will be taking another position tonight, Australia time.
  • #8,147
  • Jun 15, 2009 1:44am Jun 15, 2009 1:44am
Morning all,

I entered a short trade @ 1.3990 on break of 4H triangle. SL 75 pips which is now at break even. Will post chart later.

Ideally looking for 1.3800 initially, but we will see what happens during London open.

Russian finance minister commets at G8, Latvian intervention in currency and general risk sentiment as lead to a bias for USD at beginning of week. Hopefully we can see some good trending this week after a very quiet week last week.

Geithner speaking later today is only point to note on the news front, though we all know how sensitive the FX market is to general economic news at present...

Well done to Jacko for predicting the Euro weakness throughout latter part of last week
  • #8,148
  • Jun 15, 2009 3:06am Jun 15, 2009 3:06am
Quoting fxtrader29
Bought back at 1.3900 ten minutes ago at 4.10pm Australia time. 200 pips profit with 2 normal lots. I was not going to be greedy
Hi Fxtrader29

Good trading.

.
Jacko
  • #8,149
  • Jun 15, 2009 3:09am Jun 15, 2009 3:09am
Quoting lovejoy80
Morning all,

I entered a short trade @ 1.3990 on break of 4H triangle. SL 75 pips which is now at break even. Will post chart later.

Ideally looking for 1.3800 initially, but we will see what happens during London open.

Russian finance minister commets at G8, Latvian intervention in currency and general risk sentiment as lead to a bias for USD at beginning of week. Hopefully we can see some good trending this week after a very quiet week last week.

Geithner speaking later today is only point to note on the news front, though we all...

Hi Lovejoy

Good trading..... But watch the 1.3880 It is the 50% fib from 1.3422 to 1.4338

.
Jacko
  • #8,150
  • Jun 15, 2009 3:24am Jun 15, 2009 3:24am
I thought about setting a pending order to go SHORT at 1.3950 just before going to bed. I decided against it since it was the Asian session and I wanted to be awake to see what happened to start London. So I wake up to find this thing somewhere around 1.3890.

It's struggling at 1.3880 like Jacko thought it might. We'll see if we get a retrace back to around 1.3950 or 1.3930 and another opportunity to go short. All depends on what time that happens as well since Geithner is scheduled to open his mouth.

And FXtrader, it seems your decisions have been good. I've seen some well executed trades by you since I started following this thread.
  • #8,151
  • Jun 15, 2009 3:36am Jun 15, 2009 3:36am
Quoting RickyRudy
I thought about setting a pending order to go SHORT at 1.3950 just before going to bed. I decided against it since it was the Asian session and I wanted to be awake to see what happened to start London. So I wake up to find this thing somewhere around 1.3890.

It's struggling at 1.3880 like Jacko thought it might. We'll see if we get a retrace back to around 1.3950 or 1.3930 and another opportunity to go short. All depends on what time that happens as well since Geithner is scheduled to open his mouth.

And FXtrader, it seems your decisions have...
Hi RickyRudy

The Asian session is usually slow for the Euro. They tend to focus on USD/JPY and AUD/USD trading.

1.3950 is very possible. Every time Mr Geithner opens his mouth, the USD just drops like a rock causing all the USD pairs to shoot straight up.

.
Jacko
  • #8,152
  • Jun 15, 2009 4:55am Jun 15, 2009 4:55am
Quoting Pipped
I remember Jacko saying that trading is a thinking man's game. Well, here's my shot at explaining what I see and what I'll be looking for next week:

(Please bear in mind I trade 4H. Also note, this isn't advice! I'm in no position to offer such a thing....just thinking out loud )

The 4H is in an uptrend, but currently retracing. I'm looking to place my buy order at the Fib/lower channel line @ 1.3900, but not before price moves through it; I think it could even go as low as 1.3800 first. I don't think a rally will much exceed 1.4050 S/R and...
All this waiting is finally starting to pay off - 200 pips in the bag from buying at 1.3900 last Tuesday and I couldn't resist going counter-trend on Friday when the 4H retested the channel line.....currently up 247 pips! One of my better weeks, so far....

I'm still looking to buy around the 1.3600 area when upward momentum returns, but only time will tell - let's see how things work out.

Great to see you Jacko!
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  • #8,153
  • Jun 15, 2009 5:10am Jun 15, 2009 5:10am
Quoting jacko
Hi RickyRudy

The Asian session is usually slow for the Euro. They tend to focus on USD/JPY and AUD/USD trading.

1.3950 is very possible. Every time Mr Geithner opens his mouth, the USD just drops like a rock causing all the USD pairs to shoot straight up.

.
Jacko
Jacko, thanks for confirming my suspicions. That seems to be my observation as well. That was one of the reasons I didn't think it necessary to enter the market at that time. I've found that even if somehow you could 100% predict where the market is headed you sometimes still need timing on your side.

It's good reading your thoughts on the private blog. I'm sure some of the others here appreciate you dropping in now and then.

C'mon Geithner don't let us down, LOL!
  • #8,154
  • Jun 15, 2009 5:12am Jun 15, 2009 5:12am
Quoting Pipped
All this waiting is finally starting to pay off - 200 pips in the bag from buying at 1.3900 last Tuesday and I couldn't resist going counter-trend on Friday when the 4H retested the channel line.....currently up 247 pips! One of my better weeks, so far....

I'm still looking to buy around the 1.3600 area when upward momentum returns, but only time will tell - let's see how things work out.

Great to see you Jacko!
Good job pipped.
  • #8,155
  • Edited 7:00am Jun 15, 2009 5:57am | Edited 7:00am
Congrats

I've been waiting since Friday to short the market on the triangle breakout http://www.forexfactory.com/showpost.php?p=2799670&postcount=8128. Today early Asian session I had to leave the city for the day and didn't want to go short leaving my trade unmonitored as it was a counter trade... bad me. Well, that's life and as bas as it may feel, I have no need to rush in. Hopefully I'll be able to ride this on a pullback...

Cheers,
  • #8,156
  • Jun 15, 2009 6:30am Jun 15, 2009 6:30am
I can see a Head and Shoulders pattern forming on the 4H EURUSD chart. The neckline being around 1.3814 right now... This area might show some resistance

http://www.forexfactory.com/attachme...1&d=1245065220

Next level to watch is the 1.3600 50% retracement.
As I understand it ?
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  • #8,157
  • Jun 15, 2009 7:02am Jun 15, 2009 7:02am
Quoting Pipped
All this waiting is finally starting to pay off - 200 pips in the bag from buying at 1.3900 last Tuesday and I couldn't resist going counter-trend on Friday when the 4H retested the channel line.....currently up 247 pips! One of my better weeks, so far....

I'm still looking to buy around the 1.3600 area when upward momentum returns, but only time will tell - let's see how things work out.

Great to see you Jacko!
Hi Pipped

Good trading

.

Jacko
  • #8,158
  • Jun 15, 2009 7:10am Jun 15, 2009 7:10am
Quoting RickyRudy
Jacko, thanks for confirming my suspicions. That seems to be my observation as well. That was one of the reasons I didn't think it necessary to enter the market at that time. I've found that even if somehow you could 100% predict where the market is headed you sometimes still need timing on your side.

It's good reading your thoughts on the private blog. I'm sure some of the others here appreciate you dropping in now and then.

C'mon Geithner don't let us down, LOL!
Hi RickyRudy,

I have no beef with Mr Geithner but the Wall St boys must have a real dislike for the guy, because EVERY time Geithner speaks, the big traders just tank the USD and it sends the Euro up 100-150 pips.
A couple of weeks ago Geithner made a speech in China at around 7.00am in the morning NY time and the USD was trashed by the traders even at that hour.
I am watching today with interest. Hopefully, the "Geithner effect" will not have worn off...LOL


.
Jacko
  • #8,159
  • Jun 15, 2009 7:15am Jun 15, 2009 7:15am
Quoting jacko
I am watching today with interest. Hopefully, the "Geithner effect" will not have worn off...
ahhh good to know where Jacko thinks the trend is
Grabbing the bull by the horns!
  • #8,160
  • Jun 15, 2009 7:47am Jun 15, 2009 7:47am
Quoting Jpnek
Congrats
Today early Asian session I had to leave the city for the day and didn't want to go short leaving my trade unmonitored as it was a counter trade... bad me. Well, that's life and as bas as it may feel, I have no need to rush in. Hopefully I'll be able to ride this on a pullback...

Cheers,
JP, looks like we're in the same boat waiting for Geithner to come bail us out. Hopefully he'll come to the rescue so we can get in on this sweet action at a good price. Let's hold hands and sing Kumbaya while we wait...LOL!
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