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Jacko's Forex House of Pleasure and Pain

  • #9,341
  • Sep 13, 2009 7:49pm Sep 13, 2009 7:49pm
Quoting Xenaga03
currently at 1.4540. Just 40 more pips to go before t/p...

BTW my last trade was based off of jacko's Strat as well
the short entry?

I would think the short with a t/p at 1.450 wouldn't be Jacko's style.

I though Jacko's style was only with the trend and no target profits, just let the position run until the TS stops it out.
  • #9,342
  • Sep 13, 2009 8:09pm Sep 13, 2009 8:09pm
Quoting truckjrt
the short entry?

I would think the short with a t/p at 1.450 wouldn't be Jacko's style.

I though Jacko's style was only with the trend and no target profits, just let the position run until the TS stops it out.

In earlier posts by Jacko, he was using counter-trend strategies.
  • #9,343
  • Sep 13, 2009 8:17pm Sep 13, 2009 8:17pm
Im in profit for 50 pips. Jacko sets his s/l at b/e here so my risk now is 0.
  • #9,344
  • Sep 13, 2009 8:39pm Sep 13, 2009 8:39pm
Quoting Xenaga03
Im in profit for 50 pips. Jacko sets his s/l at b/e here so my risk now is 0.
I move my sl to be also. So would 1.45 be the new entry point to go long? Or should we expect it to fall further?
  • #9,345
  • Edited Sep 14, 2009 12:51am Sep 13, 2009 11:28pm | Edited Sep 14, 2009 12:51am
Quoting truckjrt
I move my sl to be also. So would 1.45 be the new entry point to go long? Or should we expect it to fall further?
I think it will fall a bit further, a relief rally is due. We'll just have to wait and see.

To quote the famous jacko, i could be wwwwwrong!

EDIT: PRICE HIT 1.4554 AND I TOOK THIS OPPORTUNITY TO SELL A BIT MORE AT AROUND 1.4550 (NOW RESISTANCE).

See attached image
Attached Image (click to enlarge)
Click to Enlarge Name: ebay1.jpg Size: 146 KB
  • #9,346
  • Sep 14, 2009 12:50am Sep 14, 2009 12:50am
Quoting SimonK
Yep, exactly the 61.8 fib.
Wonder if we'll push down now to re-test the trendline we broke out of this week.
Hello SimonK ! your chart looks identical to mine ! LOL ! however, may i know where you got that Huge Price Indicator on the top left corner?

my chart

http://i428.photobucket.com/albums/q...best/08-09.gif
Trading Forever !!!
  • #9,347
  • Sep 14, 2009 1:52am Sep 14, 2009 1:52am
Quoting Xenaga03
I think it will fall a bit further, a relief rally is due. We'll just have to wait and see.

To quote the famous jacko, i could be wwwwwrong!

EDIT: PRICE HIT 1.4554 AND I TOOK THIS OPPORTUNITY TO SELL A BIT MORE AT AROUND 1.4550 (NOW RESISTANCE).

See attached image
I took T/P at 1.4520. No current positions... Looking to buy if price goes any lower. Just waiting to see what the market will do now.
  • #9,348
  • Sep 14, 2009 1:55am Sep 14, 2009 1:55am
Just took a buy position (1.4540), I think the current trend will resume soon. Even if i get stopped at 1.4500, I am going to initiate this fallen soldier using A-H strategy. Happy trading!
  • #9,349
  • Sep 14, 2009 2:45am Sep 14, 2009 2:45am
Quoting Xenaga03
Just took a buy position (1.4540), I think the current trend will resume soon. Even if i get stopped at 1.4500, I am going to initiate this fallen soldier using A-H strategy. Happy trading!
Hi Xenga

I wish you well with your trade!!

If you are her to learn Jacko's methods then I suggest you slow down. You may be right this time but Jacko is right more often than not. Overtrading can wipe an account out very quickly.

We are currently trading patience for the pullback to the broken resistance / now support (1.4380) and the 50% fib (1.44). As price approaches this area we will watch it's behaviour for the best price to go long.

Those of us who are more aggressive will trade the short down to thst level
Each loss is one step closer to a winner!!! Cheers, Dave
  • #9,350
  • Sep 14, 2009 6:12am Sep 14, 2009 6:12am
Quoting madpommie
Hi Xenga

I wish you well with your trade!!

If you are her to learn Jacko's methods then I suggest you slow down. You may be right this time but Jacko is right more often than not. Overtrading can wipe an account out very quickly.

We are currently trading patience for the pullback to the broken resistance / now support (1.4380) and the 50% fib (1.44). As price approaches this area we will watch it's behaviour for the best price to go long.

Those of us who are more aggressive will trade the short down to thst level
Hello madpommie,
I appreciate your input and I believe that you are right in my overtrading. I also got a bit out of hand, and now that I look back, I do not believe most of these trades would have been taken by jacko. I will no longer post my trades here unless they are in long term based off 4 hour TF.

Thanks for clearing that up

Lets wait for the pullback to the " broken resistance / now support (1.4380) and the 50% fib (1.44)." Looking to buy there.
  • #9,351
  • Sep 14, 2009 6:31am Sep 14, 2009 6:31am
Quoting Xenaga03
Hello madpommie,
I appreciate your input and I believe that you are right in my overtrading. I also got a bit out of hand, and now that I look back, I do not believe most of these trades would have been taken by jacko. I will no longer post my trades here unless they are in long term based off 4 hour TF.

Thanks for clearing that up

Lets wait for the pullback to the " broken resistance / now support (1.4380) and the 50% fib (1.44)." Looking to buy there.
Always a pleasure to help.... while we're waiting. Have you read trading in the zone by Mark Douglas. Turned my trading around. Pure psychology.

There's a copy here....
http://www.forexfactory.com/showpost.php?p=3011574&postcount=9121
Each loss is one step closer to a winner!!! Cheers, Dave
  • #9,352
  • Sep 14, 2009 8:09am Sep 14, 2009 8:09am
Congrats Xenaga for the success so far!

I have been sitting here for awhile and will do so until market moves closer to either to the 50% fib or the previous resistance line which has been broken.

Market has not significantly moved down to where we want it to but there are couple of news releases tomorrow that may do something(hopefully).

Like Madpommie,I'll let patience play the game for now

Have not won any pips nor LOSE any since last week till now.

"DO NOT LOSE MONEY"
  • #9,353
  • Sep 14, 2009 10:18am Sep 14, 2009 10:18am
Quoting madpommie
Hi Xenga

I wish you well with your trade!!

If you are her to learn Jacko's methods then I suggest you slow down. You may be right this time but Jacko is right more often than not. Overtrading can wipe an account out very quickly.

We are currently trading patience for the pullback to the broken resistance / now support (1.4380) and the 50% fib (1.44). As price approaches this area we will watch it's behaviour for the best price to go long.

Those of us who are more aggressive will trade the short down to thst level

I agree that the market is set to move down but at what point would you abandon the thought it will return to 1.44 and start going long from the current levels?
  • #9,354
  • Sep 14, 2009 11:03am Sep 14, 2009 11:03am
Jacko was right !!! Eur/Usd still going up !!! Do not short ! danger !!!
Trading Forever !!!
  • #9,355
  • Sep 14, 2009 11:11am Sep 14, 2009 11:11am
Quoting cscheat
Jacko was right !!! Eur/Usd still going up !!! Do not short ! danger !!!
To me, there looks like a possible pin bar forming on H4. Your comment above seems a little premature or late...
  • #9,356
  • Sep 14, 2009 11:53am Sep 14, 2009 11:53am
Quoting Limstylz
To me, there looks like a possible pin bar forming on H4. Your comment above seems a little premature or late...
Pin Bar???
  • #9,357
  • Sep 14, 2009 12:41pm Sep 14, 2009 12:41pm
my post from about 2.5 weeks ago

Quoting User Name
Snr Dinero,

....As far as target, if we do break out to the bull side, I would look at I would look at 1.4650 - 1.4700, The 1.4650 is support level for 8/15/2008-8/30/08 and 1.4700 is an resistance level for 12/18/08 and there is also some consolidation in that area late 2007 to early 2008.....
I don't see this going up much further without a retrace first, maybe one more test of the resistance line, but that should be it
It's NOT GAMBLING when the odds are in your favor
  • #9,358
  • Sep 14, 2009 1:46pm Sep 14, 2009 1:46pm
Quoting User Name
my post from about 2.5 weeks ago



I don't see this going up much further without a retrace first, maybe one more test of the resistance line, but that should be it
And how exactly have you deduced that?
  • #9,359
  • Sep 14, 2009 1:58pm Sep 14, 2009 1:58pm
I think he set that out in his post 2.5 weeks ago
Dance with the market .. I have two left feet
  • #9,360
  • Sep 14, 2009 3:31pm Sep 14, 2009 3:31pm
Quoting madpommie
Always a pleasure to help.... while we're waiting. Have you read trading in the zone by Mark Douglas. Turned my trading around. Pure psychology.

There's a copy here....
http://www.forexfactory.com/showpost.php?p=3011574&postcount=9121
Thank you for your suggestion. I have actually read this book a very long tmie ago (2+ years?) but I might need some refreshing up to do.
I hope jacko would drop in here more often its really insightful and refreshing to read his posts.
I am not at my computer right now but I noticed we made new highs. If it holds, i dont think there is going ot be a retracement. Sometimes the market will move allot without retracing too much and people end up sitting out for over 500+ pips of almost verticle direction.
Happy trading.
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