Jacko's Forex House of Pleasure and Pain | Page 439 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Chicky's House of Pleasure and Pain 11 replies

Carry Backet w/ Jacko's AH 10 replies

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

Jacko's P&P Trend Trading Method 73 replies

Attachments: Jacko's Forex House of Pleasure and Pain
Exit Attachments

Jacko's Forex House of Pleasure and Pain

  • #8,761
  • Aug 7, 2009 1:33pm Aug 7, 2009 1:33pm
Quoting Jpnek
Hi IliaM,

I'm attaching a copy of my desktop. Why? I read my desktop every single morning before I begin my trading day...

Before you even figure out your next move, I would sincerely recommend you to relax over the weekend and start fresh, with a clear head on Monday. In the meantime, take a look at this (http://www.bkforexadvisors.com/fx-weekly-reports/forex-weekly-revenge-will-kill-you/).

Good luck

PS. I'll remove this post on Monday as I do not wish to clog the thread with non-related posts.

Keep it, that is nice Article too.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #8,762
  • Aug 7, 2009 1:51pm Aug 7, 2009 1:51pm
Quoting dwildes
Have you mastered the basics yet? Why would you look for the exceptions instead of follow the rules?

Once you trade this method awhile it'll get easier, but you are half-right here. The 1.4300 area was a fairly obvious 'Resistance' level. It had not confirmed as support, which is what I subtly hinted to at Low the other day.

So is not waiting for confirmation as support.

I think you were here to defend your thinking and not looking for advice. You had already made up your mind as I saw in one of your comments #8732 (http://www.forexfactory.com/showpost.php?p=2935419&postcount=8732)...
OK, let me back up a minute here, because the last thing I want to do is be one of those new posters who tries to muddle things up. So I start with any apology that is warranted to whomever it is warranted to for any tone that came across in my previous posts.

1) Q: Have I mastered the basics? A: I don't know. I'm here to learn and ask for advice and to make money. Period. I have a pretty firm grasp of the general method: Trade with the trend. Look at trend line support. Focus on 50% retrace. Look for areas of Support and Resistance. Seldom, from my review and watching the traders here work do all those things need to be in confluence (as it seemed to me) to look at valid trade levels. Having said that - and I think those are the basics - I clearly do not have the experience necessary to start giving others advice. I haven't traded this style, though I incorporated some of it elsewhere. I'm willing to try and focus on this style.

2) Why would I look for exceptions? A: I didn't know I was looking for exceptions. I laid out my thinking. Nobody told me it was an exception. I understood it wasn't 50% retrace. On the other hand, some things looked solid to me that showed it as a level to start monitoring price.

3) "The 1.4300 area was a fairly obvious 'Resistance' level. It had not confirmed as support, which is what I subtly hinted to at Low the other day." This is exactly what I'm looking for. Thanks for that. I will take a second look at the chart and this will be helpful for my reviews of the charts in the future. It is very likely that a demonstration of this to me would have helped me to re-think the trade. (and I'm NOT blaming anyone - it was my trade. I apologize if that's how it sounded.)

4) "So is not waiting for confirmation as support." This is where I honestly need some help and clarity. One can never be sure where price will go after entry. I thought I had a reasonable approach at increasing probability of a win. I thought I was eliminating the falling knife. You are suggesting otherwise, and I accept that. So, suppose there had been a previous bounce off 1.4300 a week or two ago. If this, in your mind, confirmed support, would you then say that the approach I took was valid? Is one bounce enough for confirmation? As I look back at the chart, I now see exactly what you are saying regarding lack of support. I was lumping S/R together, making an assumption that once resistance is broken it is likely to become support, but with no previous confirmation of such.

5) "I think you were here to defend your thinking and not looking for advice. You had already made up your mind as I saw in one of your comments #8732 (http://www.forexfactory.com/showpost.php?p=2935419&postcount=8732) that you would just see how it does." Of all your comments, this is the one that most bothers me. Since you don't know me and I'm a newbie here, I suppose I can understand it. But you don't know me and you made an assumption that I wanted strokes. Yes, I presented a plan. Honestly, I don't freakin' care if someone rightfully tears it to shreds if it needs to be. I did say I'll see how it goes, but I also very openly soght advice from those who successfully trade this way. I'm not about pride. I have no intention to brag about wins or ignore losses. I presented my ideas specifically for critique. Please make that assumption about me in the future.

6) Why are you trying to do something different and then call foul? I was not intending to cry foul. If I may, though, my frustration with your comment was more along the lines of the fact that it's easy to tell someone they did something wrong after the fact than tell them they are about to do something wrong. When I read your post I was thinking "well, why didn't you say something before?" Maybe I would have gone forward and maybe I wouldn't have, but I would have better understood that I was, in fact, deviating from the rules.

7) "The rules of the jacko-style are very clear on the first page of this thread." Please don't get upset with me, but the general rules are clear, but more specific rules are not. I can also point to a very clear post by Jacko that said AH is more important than entry. So, in one respect, as long as I get in with AH I'm following the rules. But the entire genesis of my original post was because of uncertainty on when and how to enter. I have read the first pages over and over again. Let me provide an example: let's say there is a 50% retrace. OK, great. This is a clear rule. Now, look for a round number. Should I place a limit order? Should I wait for a while around the retrace point? What if it goes lower? Should I then proceed along the lines I posted? Should I learn about PA? Should I just buy at the 50% point? I know the point, and I know I should go long, but there are still a lot of questions about how to best minimize your risk at that point. And THAT is what I was getting at. Suggestions are welcome.


I am very sorry for my long-windedness.
  • #8,763
  • Aug 7, 2009 3:26pm Aug 7, 2009 3:26pm
If you are just starting out - why did you leave this trade open through the weekend?

My fault to do that and i got hit for it but this is what i was thinking.

i was trying to make my prediction to where it will fall and i thought it would bounce off the R just like it did other few times. entered approx 1.4250 left it over the weekend thinking it would be the wait. Forgot to swap to OCO orders.


Why was it not 100pip stop?

placed a stop just above the top of the range thinking if it will break up then 100 pips will not save me.... but they would have. rule broken....got hit for it

Why was it not 100pip stop - and why were you opening a position at this level?

i assumed that if i enter at 1.4350 i can catch 50 pips riding down. NFA came out stopped me out by a lot. it was an impulsive entry i thought it was a good opportunity to recover 50 pips


You 'will' lose some trades - no doubt about it. But you can never throw your strategy out the window and just go into the market guns blazing. You will get killed.

I got nailed not proud of it but ill most likley never do it again....just like the time i played without stops....lost over 50% of my acct...but that was few months ago while i was learning... now i always place stops.

It sounds like you are very anxious to make money in the market. What if I told you were not going to make one penny for the next 3 months - but you'll gain a great education that would pave the way to making money?

i am i want to be profitable soo bad! im tired of my stupid job, tired of finishing post secondary and do same work that a bum or a person with out education can do. we all have our stories, but thats gists of my story but FX is something i want in my life

Change your mindset.

its not fully there but little by little it will get there,
i definatly know i need help to get there and

I want to thank you for the imput
  • #8,764
  • Aug 7, 2009 4:10pm Aug 7, 2009 4:10pm
Quoting dwildes
I've been quiet on this thread for many months and will go back into hiding after this post.
Please do not do that! Your thoughts are very important for this thread. Please continue posting your trades and analysis.

Best regards,
  • #8,765
  • Aug 7, 2009 4:38pm Aug 7, 2009 4:38pm
Joe T,

I saw your post a couple days ago when you considered your possible entries. To be honest, I wasn't able to digest it because of two inter-related reasons: 1) you presented several options, a couple of which I found confusing at the time and, 2), I was traveling with little time to really absorb the thread and provide feedback. I also saw that DanUK was helping. He is a very good trader who understands this system very well. He successfully trades it with his own way of entering. Having said all that, I do not consider myself a veteran or seasoned trader. However, I still hope my thoughts mean something.

Don't beat yourself up for your decision to go LONG at 1.4300. Your analysis seemed fine to me. Even Jacko was looking to go LONG at 1.4300. I too was looking to go LONG at 1.4300. We were in an uptrend looking to buy on a dip and a retrace to the round number would've provided that opportunity. Sure the 50% fib could've been interpreted as a better opportunity but the thought at the time was that the market was ready to resume a strong uptrend after consolidating for so long. The 50% fib was much further away and we were working on the basis that the 1.4300 to 1.4340 area was a resistance area that would turn support in the uptrend.

The biggest "mistake" I see was that you entered on NFP or kept your trade open during NFP. And I quote the word mistake because some might see that as aggressive instead of a mistake. I had been traveling since Wednesday and was sporadically checking in on the market when I got a chance. I had a pending LONG at 1.4300 yesterday but canceled it when I realized it wasn't going to get filled until hours before NFP or sometime close to after NFP. Once we got closer to NFP I realized my window of opportunity was closing, so I nixed my plan to enter at 1.4300. Jacko himself didn't even stick around for NFP.

Trading the NFP can be profitable, but it can also be VERY dangerous. It's pretty much high risk and you're pretty much playing Russian roulette with your stops as price could spike several times either direction within 30 minutes. I've learned to stay away from the mighty NFP. To me that was what killed you more than anything.

Good luck and don't be afraid to post future analysis ahead of time.
  • #8,766
  • Aug 7, 2009 5:11pm Aug 7, 2009 5:11pm
Quoting RickyRudy
Joe T,

I saw your post a couple days ago when you considered your possible entries. To be honest, I wasn't able to digest it because of two inter-related reasons: 1) you presented several options, a couple of which I found confusing at the time and, 2), I was traveling with little time to really absorb the thread and provide feedback. I also saw that DanUK was helping. He is a very good trader who understands this system very well. He successfully trades it with his own way of entering. Having said all that, I do not consider myself a veteran...
Very much appreciate your thoughts.

As a rule, I took the long-term strategy of trend-trading to mean that we don't worry too much about news. However, I have seen NFP mentioned often. Is this the major exception, or are there other major exceptions? And is this mostly a consideration when waiting to open a position, or should it also be a consideration when a trade is running (e.g. close if in profit)? I suppose I need to look at a calendar of any of the major monthly announcements and be better prepared for that.

I'll take a breather and for the moment just let my AH be the current target. If price continues below 1.4100, I may look again at potential entries. I just want to make sure that any such entry is far enough removed from AH that it makes sense.

Have a good weekend.
  • #8,767
  • Aug 7, 2009 5:31pm Aug 7, 2009 5:31pm
Quoting Joe T
Very much appreciate your thoughts.

As a rule, I took the long-term strategy of trend-trading to mean that we don't worry too much about news....
Yes, you're right in that this method is a more of a medium to long term method instead of intra-day trading. You still have to be careful given that our SL and TSL are typically only 100 pips. That might sound like a lot of pips but it is nothing when you think of how much the big news items move the market.

Yes, it is a good idea to keep an eye on the news. I'm not suggesting trading off the news, just keep an eye on when news events are scheduled. Forex Factory has a calendar of news events. What you'll find is that news moves the currency the most. Some news items move it more than others. The NFP and the FOMC are the biggest movers. You can not realistically expect to avoid all news items because the market moves on news. There are times when the market stays in a tight range until news.

The rule of entering and exiting trades around news items is subjective in that it differs from trader to trader. I know of traders who have no regard for the NFP. They'll enter before, during and immediately after the NFP. Some will avoid the NFP at all cost but ignore all other news items. Others will avoid both the NFP and the FOMC and ignore all others. Then more conservative traders may add other news events to their avoid list. I may be wrong but I would venture to say most avoid the NFP at all cost. It's mostly about your appetite for risk. Personally, I am careful around NFP time and I'm now starting to include FOMC in my danger list. Entering at NFP is equivalent to gambling to me. All other news events are game for me. I will not enter a trade close to NFP or soon after NFP. If I am in a trade close to NFP I may close it depending on how far I am in profit. I also take into account my TSL. Today was a good lesson for you in terms of how dangerous the NFP could be.

I hope my response doesn't take away from the spirit of the thread.
  • #8,768
  • Aug 7, 2009 5:51pm Aug 7, 2009 5:51pm
Quoting IliaM
do you guys think a down move past 1.4100 is realistic???? thats below the support on the 4h chart.
If anyone answers NO they aren't trustworthy. Although I'm still LONG bias this thing can easily go below 1.4100. The way I see things at the moment, if it gets lower than 1.4140, I would project the low of the next few H4 bar to be somewhere around 1.4100. Still, nothing is certain in FX. You just have to play the percentages.
  • #8,769
  • Aug 7, 2009 5:53pm Aug 7, 2009 5:53pm
Quoting Joe T
1) Q: Have I mastered the basics? A: I don't know.
The best you can do at that point is go look at previous charts on the H4 and do back testing so you fully and can completely answer 'yes' to that question.

Quoting Joe T
2) Why would I look for exceptions? A: I didn't know I was looking..........
This comes back to mastering the basics. If you knew the basics in/out, you would have known the answer to this. Don't rely on anyone else here - learn it for yourself. What would you do if forex factory lost this thread?

Quoting Joe T
3) "The 1.4300 area was a fairly obvious 'Resistance' level. ...........
No problem, this will definitely become clearer with more practice. Since you are just getting started, I still feel it is best to stay with the 'vanilla' system. Don't get lured in with the hundreds of different ways to do this.

Quoting Joe T
4) "So is not waiting for confirmation as support." ...........
I know this probably won't be the answer you want to hear - but only practice will make this better. Learn/study as much as you can about support and resistance.

Quoting Joe T
5) "I think you were here to defend your thinking and not .............
That's fine - we'll agree to disagree on that point.
Just try to filter down your question. We have to wade through a novel to get to a potential question. 9/10 times, that comes from someone who has not gone with the basics.

Quoting Joe T
6) Why are you trying to do something different and then ..........
This goes back to my statement about the basics. See how learning the basics could solve most of your problems here?


Quoting Joe T
7) "The rules of the jacko-style are very clear on the first page......
I'm definitely not upset, but I can also tell you haven't done your homework either. In order to get cleaner, better answers - you have to have better questions than asking the basically the same things that have been asked on here for the past 2 years. The answers you are looking for are too unique to your trading personality. You may get plenty of replies, but ultimately it will be you that designs those rules, and you will be a better trader for it.
  • #8,770
  • Aug 7, 2009 5:56pm Aug 7, 2009 5:56pm
Being this my first post, I just hate the idea of disagreeing with a fellow Turtle. But I must confess that I feel disgusted by your post. These are my reasons:

Quoting dwildes
Have you mastered the basics yet?...
Have you? Who told you that trading COUNTER TRADE was mastering Jackos trading system?

Quoting dwildes
My TP was hit at 1.4230 (50% FIB) for +190
These are types of trades we jacko turtles make.
NO, these are not. THAT IS A LIE. Your trade is not even a Jacko sanctioned trade, plain and simple. That was a COUNTER TRADE. We all know Jacko DOES NOT EVEN LIKE THE IDEA OF COUNTER TRADES.. He never has (even when he had to take some lately). If not, why didn't Jacko take this counter trade? To me this was no more than one of those trades you kids are taking aiming at the chief's market idea. A purist Jacko Trend Trader would NEVER TAKE A COUNTER TRADE. If you don't believe go back to post number one.

Quoting dwildes
I've been quiet on this thread for many months and will go back into hiding after this post. The only reason I did post a few trades on here was because of the proof of trading from the turtles. I done my part. I hope posting these last few trades helped some (especially the ones calling long at around 1.4300. )
Nobody is asking us Turtles to show our pips after the facts. Wouldn't it be better for you clearly show everyone interested your EUR/USD view BEFORE THE FACTS. What are you afraid of? Someone copying your trade? So what? You afraid that someone here with their 300 dollars account is going to take the other side of the trade?

Quoting dwildes
Nice - but just a tip:
It holds more weight if you call it before hand with a bit of reasoning behind it, instead of after the fact.
Don't make me laugh. Even the great Jacko TRADES AFTER HAND. He sees where the market is heading, he waits for the market to reach his area and ONLY THEN, he enters the trade WHEN THE MARKET IS COMING BACK in his desired direction,after the fact or however you want to call it.

Quoting dwildes
Have you mastered the basics yet? Why would you look for the exceptions instead of follow the rules?
Not again. Please!!!. Have you? Aren't you the one bending the rules? WHAT ARE YOU DOING COUNTER TRADING?

Quoting dwildes
but you are half-right here. The 1.4300 area was a fairly obvious 'Resistance' level. It had not confirmed as support, which is what I subtly hinted to at Low the other day.
Who told you that we were supposed to wait for a hard confirmation of support? What makes you think that the 1.4300 Resistance did not turned into really strong Support? Have you count how many times Jacko has mentioned this past week 1.4300 turning into Support? Does this sound familiar to you: The Resistance line of 1.4338 has now become a Support line. Can you remember who posted that at his private blog? Do you even have access to Jackos blog anymore? Listen, Pal, the fact that you were lucky with this NFP trade going in your direction, does not give you any right to bash on newcomers to Jacko Trend Trading system here. My reason to say so is as clear as KNOWING THAT JACKO WAS PLANNING TO BUY EUR/USD AROUND 1.4300. With that being said, would you tell Jacko HOW WRONG HE HAS BEEN ALL WEEK waiting for his target buy zone? So you are now telling us THAT YOUR TECHNICAL STUDY WAS WAY AHEAD OF JACKO'S (cause Jacko was also waiting to buy at 1.4300)? Thanks, but no thanks

Quoting dwildes
Basically for me it boils down to: Why are you trying to do something different and then call foul?
I can't recall JoeT calling foul. He stood like a good soldier waiting for an AntiHedge trade. You are the only only one bithching here.

Quoting dwildes
The rules of the jacko-style are very clear on the first page of this thread. Once you can trade it EXACTLY by the rules for 6+ months, maybe then you can try a few different things here & there and you would understand the changes without even needing to ask.
Aren't you altering them too? What makes you think that you can bend the rules, but not a newcomer who hardly knows the innards to the system? Oh sorry, your great 25 pip winning trade on a mini micro tiny account boosted you ego so much, that you feel like you should come here AND LECTURE EVERYONE YOU CAN. Are you man enough to also post a comment here TELLING JACKO HOW WRONG HE WAS WAITING TO BUY EUR/USD AT 1.4300 ALL WEEK? Certainly not, because as you mentioned earlier, you have done you part and you will now disappear. How convenient, hahh!

Quoting dwildes
it sounds like you are very anxious to make money in the market.
Aren't all of us, including Jacko? Oh, but no you. Because you last ego boosting trade left you with enough monopoly cash to live the good life for a few months. Don't make me laugh... with the 25 (or was it 32 pips) you made on your now famous COUNTER TRADE I couldn't even buy a Cheese Burger here in Paris...! Sorry, are you trading live? or was that trade on a demo account? Was it even a real trade or did you just made it up as an excuse to come here to Jackos house and bitch everyone you felt like?

I could go on, and on but I believe I made my point.

Last but not least, JoeT, your trade plan was good. Your only mistake was standing in front of the NFP truck. Don't do it again (same goes for FOMC). You better listen to other Turtle's advice such as Rudy's. Well said, Rudy. Standing in for a non-Turtle shows the type of guy you are.

Have a good one everyone, and like dwildes, I will now disappear.

au revoir!
  • #8,771
  • Aug 7, 2009 6:06pm Aug 7, 2009 6:06pm
My fault to do that and i got hit for it but this is what i was thinking.
i was trying to make my prediction to where it will fall and i thought it would bounce off the R just like it did other few times. entered approx 1.4250 left it over the weekend thinking it would be the wait. Forgot to swap to OCO orders.

Nice honest answer - I like it. Chalk it up to learning experience.

placed a stop just above the top of the range thinking if it will break up then 100 pips will not save me.... but they would have. rule broken....got hit for it

That's what happens when you break the rules. Honestly though, this has helped you more than hurt you. The worse thing is being rewarded for breaking your rules because it encourages more of it.

i assumed that if i enter at 1.4350 i can catch 50 pips riding down. NFA came out stopped me out by a lot. it was an impulsive entry i thought it was a good opportunity to recover 50 pips

Risk vs. Reward
Compare the pips you lost for the ones you 'may' have gotten, especially in an 'iffy' area to enter

I got nailed not proud of it but ill most likley never do it again....just like the time i played without stops....lost over 50% of my acct...but that was few months ago while i was learning... now i always place stops.

Good you are being honest with yourself. You can't find fixes to problems you don't acknowledge.

i am i want to be profitable soo bad! im tired of my stupid job, tired of finishing post secondary and do same work that a bum or a person with out education can do. we all have our stories, but thats gists of my story but FX is something i want in my life

Unfortunately, unless you are extremely lucky, you are going to be stuck at a stupid job for many more years. FX isn't an overnight job replacement. It's going to take years to get "ok" at it. You might learn faster, but better to set that expectation now, than be disappointed 6 months from now.

its not fully there but little by little it will get there,
i definatly know i need help to get there and
I want to thank you for the imput

You're welcome - thanks for taking the time to read it.
  • #8,772
  • Aug 7, 2009 6:12pm Aug 7, 2009 6:12pm
Quoting newbietrader101
The MONEY in my bank tells me I am in the 5%

http://www.forexfactory.com/showpost.php?p=2626624&postcount=6820

http://www.forexfactory.com/showpost.php?p=2635211&postcount=80891

http://www.forexfactory.com/showpost.php?p=2635248&postcount=54

I have been tradeing for nearly 3 years. Best thing I ever did was to meet Jacko
http://www.forexfactory.com/showthread.php?t=13081 (http://www.forexfactory.com/showthread.php?t=13081)




=
Yo newbietrader101.

I saw this in another post. http://www.forexfactory.com/t/13081/i-met-a-great-trader-i-1.html

This is an awesome post. You started this in 2007 and I see that you are still around. Have you been to see Jacko again?
  • #8,773
  • Aug 8, 2009 7:40am Aug 8, 2009 7:40am
I wouldn't mind seeing him in here again....

all we can do is wait and see....
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #8,774
  • Aug 8, 2009 9:18am Aug 8, 2009 9:18am
whats happend here,nice post jpnek,emotion out,if your learning do it on demo,no rush to lose money.prove it to yourself,not too anyone else,.only you will care if you blow your account.take a step back,this market has no rules.tame the beast in you,then,trade the charts.each to there own,its not easy.dont play with your money it will not be replaced easy.
student
  • #8,775
  • Aug 8, 2009 11:23am Aug 8, 2009 11:23am
Quoting Joe T
... I put a plan in place to monitor that area, and laid it out. I asked for advice on whether or not it seemed reasonable. Dan provided some input, and nobody came forward and said it broke the rules or was too risky or anything like that. Well, except for now, after it didn't work out...
Hey Joe,

You planned your trade and traded your plan. Good. You entered the trade in the middle of NFP. Hmmm, I believe this was a Big Mistake. Do yourself a favor and remember this: unless your fundamental analysis is really, really good, entering a trade in the middle of important news releases such as NFP or FOMC, is playing with fire; eventually you'll get burned. Even Jacko believes that we stand no chance in trading the news (http://www.forexfactory.com/showpost.php?p=1425775&postcount=7). If I was keen in taking the trade anyways, I'd probably wait at least a couple of hours after the news, when the market has already absorbed it and dust have settled down. Did I mentioned I got hit with a 250 pip spike slippage back in Feb. during the FOMC announcement... ouch!

Having said that, I believe that your entry at .4300 was good and I don't see why would you be breaking the rules (except for trading the news). We had an important round number, good S/R level as well as a falling H4 ex-resistance TL (turned into support). Admittedly, I've been waiting all week to go Long around .4300ish (http://www.forexfactory.com/showpost.php?p=2932153&postcount=8713), but cancelled my trade a few hours before NFP as I usually try to stay out of the markets around big news announcements. And I may be wroooong here, but I believe that many Group Members were waiting to go Long around this level, too.

I hope that my response can be of any help (even though a bit late).

Good Luck in your future trades

Cheers,
  • #8,776
  • Aug 8, 2009 2:19pm Aug 8, 2009 2:19pm
Got to agree that there's nothing more frustrating than waiting a week for a trade and then the entry price turning up on NFP day.

A very good exercise in patience, which I admit I failed this time!
If it's too good to be true, it probably is.
  • #8,777
  • Aug 8, 2009 10:27pm Aug 8, 2009 10:27pm
Quoting Jpnek
Hey Joe,

Admittedly, I've been waiting all week to go Long around .4300ish (http://www.forexfactory.com/showpost.php?p=2932153&postcount=8713), but cancelled my trade a few hours before NFP as I usually try to stay out of the markets around big news announcements. And I may be wroooong here, but I believe that many Group Members were waiting to go Long around this level, too.
Hi Jpnek,

Just here to support what you said JPnek.Your not wrong at all,I am another fellow member waiting to go long at 1.4300 after looking at the breakout from 1.4338,we were looking at round number 1.4300 to enter at dips.However things don't always go as we think it would since 1.4300 did not hold at support.

In fact throughout the NFP announcement,I was sitting in front of the screen looking at the numbers jump like crazy.I think entering at 1.4300 wasn't absolutely a mistake.However,after waiting for a boring one week where the market was sooooo stagnant,it is not surprising traders want in.I believe it is here that our "patience" is tested.In the end,I did not enter because of "never trade the news" and "let the dust settle".So I believe the main lesson we learn here is the consequence of trading the news.And no,"consequence" doesn't mean its wrong,it just means your risk just got higher and I think its better for those not ready for high risk to stay out.Am I right to say that?

I hope my view is not wrong and if I am,anyone feel free to correct me because it is just my view and I could be wrrrong.

Cheers everyone,"the market will be here when you and I are long gone".

noobistrader
  • #8,778
  • Aug 9, 2009 10:43am Aug 9, 2009 10:43am
have you been waiting,all week for your signal,and losing money if you didnt have the balls too trade,tradings trading,multible names your a joke with your post,rant and whats ur point.no trading no money,were u going, too be spoon fed,the jokes on u,signal taker.dewildes says it as he finds,and we all trade,do you,you want to buy the 1000 pips a month ebook from me,only 1000 now ,and when you make 250,000 you can send me the rest.i trust you.after your first post u got to be a good guy,o sorry you will not be back ,sure who names next .mmm,case closed
student
  • #8,779
  • Aug 9, 2009 11:58am Aug 9, 2009 11:58am
ehm....


what?!?!?!



someone pull out the intergalactic translator please....SPOCKKKKKKKKKKKKK!!! where are you?!?!?
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #8,780
  • Edited 10:06pm Aug 9, 2009 12:21pm | Edited 10:06pm
Quoting garrye
whats happend here,nice post jpnek,emotion out,if your learning do it on demo,no rush to lose money.prove it to yourself,not too anyone else,.only you will care if you blow your account.take a step back,this market has no rules.tame the beast in you,then,trade the charts.each to there own,its not easy.dont play with your money it will not be replaced easy.
Hey garrye,

I don't know if you're quoting the correct post as I don't remember mentioning blowing my account (at least lately... LOL)

Thanks for the reminder anyway

Edit: Sorry about the confusion. I think you were referring to my response on this post? (http://www.forexfactory.com/showpost.php?p=2939767&postcount=8763)
Edit 2:As promised, I've just tried to delete that non-related post, but it was too late (delete option is not showing anymore). Sorry about that.
2 traders viewing now