Jacko's Forex House of Pleasure and Pain | Page 414 | Forex Factory

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Jacko's Forex House of Pleasure and Pain

  • #8,261
  • Jun 18, 2009 2:55pm Jun 18, 2009 2:55pm
down she goes...have a 100 pip TSL in place. Hoping it can go down to test the recent lows
  • #8,262
  • Jun 18, 2009 3:37pm Jun 18, 2009 3:37pm
Quoting Low
http://i40.tinypic.com/apik9h.png
Low, pardon my ignorance but I don't understand your platform. What price did you sell at?
  • #8,263
  • Jun 18, 2009 3:43pm Jun 18, 2009 3:43pm
Patience.
Following the rules.
PIPS
  • #8,264
  • Jun 18, 2009 3:52pm Jun 18, 2009 3:52pm
Quoting RickyRudy
Low, pardon my ignorance but I don't understand your platform. What price did you sell at?
Sold at 1.3947. Market order, what can you do?

Right now the TSL is at X.XX73, 26 pip loss locked in.

Now I wait and see if she comes through for me.
  • #8,265
  • Edited Jun 19, 2009 1:56am Jun 18, 2009 5:41pm | Edited Jun 19, 2009 1:56am
Just woke up to find I have an extra 100 pips in the bag. Pulled the trigger with a Sell limit order at .4000. Closed out by TSL.

Looking forward to re-enter this trade today...

Edit 7:50GMT: looks like PA didn't make up it's mind during Asian session, so being Friday and sticking to my 'no trading on Fridays' rule... it'll be 'till next week. Enjoy the weekend everyone.
  • #8,266
  • Jun 18, 2009 6:04pm Jun 18, 2009 6:04pm
Nice work jpnek.
  • #8,267
  • Jun 18, 2009 6:04pm Jun 18, 2009 6:04pm
Jpneck, check your PM.
  • #8,268
  • Jun 18, 2009 6:23pm Jun 18, 2009 6:23pm
Hi guys,

I am quite new around and trying to learn something from you and Jacko...

Just to ensure my thinking, on 4H chart we are long, that's why I am looking for long at around 1.3800 area... ?

Do I have my TLs right?
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 16 KB
Live it or leave it!
  • #8,269
  • Jun 18, 2009 6:46pm Jun 18, 2009 6:46pm
Quoting Low
Nice work jpnek.
Thanks, Low. Looks like you still riding this baby

Good luck
  • #8,270
  • Jun 18, 2009 6:50pm Jun 18, 2009 6:50pm
Quoting RickyRudy
Jpneck, check your PM.
Ricky, you've got PM.
  • #8,271
  • Jun 18, 2009 8:51pm Jun 18, 2009 8:51pm
Quoting plan-b
You are probably over trading if you are guilty of the following:

thanks for this... with this printed out and in my face at all times, there is no longer any excuse for any of these behaviours. best to you.
mark
  • #8,272
  • Jun 19, 2009 12:27am Jun 19, 2009 12:27am
My short trade got closed at BE.

I wasn't ready to eat it. There will be other opportunities, maybe a better entry. My upper TL meets price at around 1.3980, but the 50 fib is around 1.4030....neither of which is a round #.....

I will wait and watch.
  • #8,273
  • Jun 19, 2009 1:59am Jun 19, 2009 1:59am
Quoting Slurpee
Hi guys,

I am quite new around and trying to learn something from you and Jacko...

Just to ensure my thinking, on 4H chart we are long, that's why I am looking for long at around 1.3800 area... ?

Do I have my TLs right?
Hi Slurpee,

You are correct - strictly speaking if you are trading the 4H chart you should still be looking for long positions.

Your upper trendline looks OK but your lower trendline is a horizontal support/resistance line - not a trendline. I have two sets of trendlines on my current chart (connecting the highs and the lows) - the aqua are drawn from the daily chart zoomed out to about 300 bars. The yellow trendlines are drawn from the 4H chart zoomed out to about 300 bars. I have also drawn the 1.3800 level that you mentioned for reference.

Regards,

Dan
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 23 KB
  • #8,274
  • Jun 19, 2009 3:31am Jun 19, 2009 3:31am
Thank you DanUK!
Live it or leave it!
  • #8,275
  • Jun 19, 2009 4:17am Jun 19, 2009 4:17am
Looking at the 3 hour chart in particular, it's very easy with hindsigh to see where we all should have entered and exited trades recently!

I closed my 1.4000 short out at 1.3920 overnight for 80pips profit :-).

http://i44.tinypic.com/20z1v6r.jpg

http://i42.tinypic.com/2ch7qeb.jpg
  • #8,276
  • Jun 19, 2009 5:58am Jun 19, 2009 5:58am
My two positions were closed yesterday. The one entered at 3960 netted a profit of 43 pips while the one entered at 4000 earned 84 pips.
  • #8,277
  • Jun 19, 2009 7:54am Jun 19, 2009 7:54am
I notice everyone closing their shorts from yesterday...

Were you guys getting worried it won't pull through, or were they stopped out by TSL?
  • #8,278
  • Jun 19, 2009 8:08am Jun 19, 2009 8:08am
Quoting c49ermoose
I notice everyone closing their shorts from yesterday...

Were you guys getting worried it won't pull through, or were they stopped out by TSL?
Hi c49ermoose,

In my case, I was stopped out by my TSL (http://www.forexfactory.com/showpost.php?p=2814203&postcount=8267). Besides that, one of my rules is never leave any open trades over the weekend. In hindsight, my TSL did a great job. I was able to grab 100 pips out of a 130 pip move.

Cheers,
  • #8,279
  • Jun 19, 2009 9:22am Jun 19, 2009 9:22am
I`ve been following Jacko`s forex house for some time now, and I`m more and more appreciating the Jacko way of running the game.

My current position is short, and I managed to sit on my hands to see it bounce off 1.4000. I got in at 1.39778 in average, and I`m still holding on to it. I use the 100 pips trailing SL, and I try to stick with it 100%.

It doesn`t seem like some of you are staying with the 100pips TSL 100%, then you would still be in the market...? Has Jacko narrowed it lately, or doesn`t he stay with the 100 pip TSL him self? What makes you close orders early?
  • #8,280
  • Jun 19, 2009 9:37am Jun 19, 2009 9:37am
Quoting FXfelix
What makes you close orders early?
I don’t like to hold a position over the weekend, anything can happen, plus it's bouncing of 1.39 which is a round # and bottom of the channel, besides I can always open a position next week so I'll take the 100 pips for now. Jacko is not a fan of holding positions over the weekend either
It's NOT GAMBLING when the odds are in your favor
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