Trading Forever !!! 
Jacko's Forex House of Pleasure and Pain
Finally finished reading the thread
Very informative and some great discussions. I have traded any time frame you can think of with EUR/USD and have generally built capital. My profits have not been enough to replace my current salary, so I have not gone full time.
I have to say that Jacko's anti hedging is a GREAT method for leaving your capital undented, but from what I have seen in the posts, many fellow posters are trying to exactly replicate Jacko's trades. So I thought as a reminder, I would give the following observations from myown experience:
1) Treat this as a mehodology and not a exact step by step approach. You will need to make your own decisions in the end (decision to go long/short or stand aside) and follow Jacko's guidelines. It is similar to driving. You need to follow the driving theory but also be looking out for the drunk drivers coming the opposite way (countries defaulting) or that pedestrian crossing the street (unemployment figures). You get the picture. If you do not watch for these, the Anti hedging will get you out.
2) Regarding time-frames, it has been said a million times, but if you cannot master the daily, you cannot master the sub-daily frames. So start with that. It will build your patience. Trust me, I hate waiting for an opportunity, but I find that I can accrue capital a lot more quickly the less I look at my charts --> less stress
3) I have seen that lots of people try to automate and come up with EAs etc for this methodology. Again as said a million times before, automated strategies just plain dont work in the longer term. Believe me, this is my job. I studied quantitative trading and am working on a quant strategy desk; my job is to make models. We do like 10 models a day and most of them are for equity arbitrage. They last a day or two mostly. Now try to find an EA that will make you money for the longer term.
4) Jacko said leave your brain at the door when you get into your trading room. Do it! but do not be a mechanical machine, use common sense and do not try to guess the direction of the market if it is bleeding obvious as to where it is going. The simple trend lines will show you where the pair is heading.
Anywho, I am long at 1.4603 and will be watching out for that truck at 3PM GMT (see calendar). Until then, MT4 is off on my phone and it feels great
I wish success and lots of Dollars for all.
Very informative and some great discussions. I have traded any time frame you can think of with EUR/USD and have generally built capital. My profits have not been enough to replace my current salary, so I have not gone full time.
I have to say that Jacko's anti hedging is a GREAT method for leaving your capital undented, but from what I have seen in the posts, many fellow posters are trying to exactly replicate Jacko's trades. So I thought as a reminder, I would give the following observations from myown experience:
1) Treat this as a mehodology and not a exact step by step approach. You will need to make your own decisions in the end (decision to go long/short or stand aside) and follow Jacko's guidelines. It is similar to driving. You need to follow the driving theory but also be looking out for the drunk drivers coming the opposite way (countries defaulting) or that pedestrian crossing the street (unemployment figures). You get the picture. If you do not watch for these, the Anti hedging will get you out.
2) Regarding time-frames, it has been said a million times, but if you cannot master the daily, you cannot master the sub-daily frames. So start with that. It will build your patience. Trust me, I hate waiting for an opportunity, but I find that I can accrue capital a lot more quickly the less I look at my charts
--> less stress3) I have seen that lots of people try to automate and come up with EAs etc for this methodology. Again as said a million times before, automated strategies just plain dont work in the longer term. Believe me, this is my job. I studied quantitative trading and am working on a quant strategy desk; my job is to make models. We do like 10 models a day and most of them are for equity arbitrage. They last a day or two mostly. Now try to find an EA that will make you money for the longer term.
4) Jacko said leave your brain at the door when you get into your trading room. Do it! but do not be a mechanical machine, use common sense and do not try to guess the direction of the market if it is bleeding obvious as to where it is going. The simple trend lines will show you where the pair is heading.
Anywho, I am long at 1.4603 and will be watching out for that truck at 3PM GMT (see calendar). Until then, MT4 is off on my phone and it feels great
I wish success and lots of Dollars for all.
Finally finished reading the thread
Very informative and some great discussions. I have traded any time frame you can think of with EUR/USD and have generally built capital. My profits have not been enough to replace my current salary, so I have not gone full time.
I have to say that Jacko's anti hedging is a GREAT method for leaving your capital undented, but from what I have seen in the posts, many fellow posters are trying to exactly replicate Jacko's trades. So I thought as a reminder, I would give the following observations from myown...
- #9,497
- Oct 5, 2009 1:10pm Oct 5, 2009 1:10pm
Is it just me, or has this method of trading morphed into something rather bizarre? The following points spring to mind;
-we are supposedly looking at a 300 period chart to determine trend
-we then completely ignore that, and instead draw a trend line which is only a few bars old
-we decide that the new trendline, which is only a few bars old, carries much more weight than the 300 bar trend line
-we then look for an entry using the small trend line
-in a surreal twist, the entry is 100 pips on the far side of the new, short trend line!
-we then...
