Jacko's Forex House of Pleasure and Pain | Page 487 | 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

  • #9,721
  • Nov 4, 2009 9:59am Nov 4, 2009 9:59am
Please please please - once and for all -

Jacko IS NOT A SIGNAL SERVICE the sooner everyone understands that the better.

he is illustrating what HIS trades are it is YOUR choice and YOURS ALONE whether to mirror them or not.

to trading:

on my H4 price hit the same PPZ (j16 jargon) for the third time at 4846 area.

Need to see if it will break and how hard.

Ready with an AH in anycase.
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #9,722
  • Nov 4, 2009 10:13am Nov 4, 2009 10:13am
Quoting coscorp
Please please please - once and for all -

Jacko IS NOT A SIGNAL SERVICE the sooner everyone understands that the better.

he is illustrating what HIS trades are it is YOUR choice and YOURS ALONE whether to mirror them or not.

to trading:

on my H4 price hit the same PPZ (j16 jargon) for the third time at 4846 area.

Need to see if it will break and how hard.

Ready with an AH in anycase.
what got u so worked up?
am i not allowed to ask bout this failed trade here and discuss what has gone wrong and try to learn something from here?
  • #9,723
  • Nov 4, 2009 10:27am Nov 4, 2009 10:27am
nothing personal - however let's please refrain from putting signal service and Jacko in the same post (it's bad enough he's been relegated here into the commercial section) - discuss trades? great that what we are here for - bearing in mind the confidentiality requested by Jacko regarding the private blog.

Now,

I'm leaving the AH in place - I had entered short due to the strength of the break of what I had always considered as the lower TL of the channel and had 14600 as a target - however looking at the charts again

http://screencast.com/t/WMo8xMj7CfYG

I feel that the true TL is the last low and the market was simply making a long overdue correction down to the actual bottom of the major channel. Bias is still most definitely long in my book. Thus any short trades will be dealt with as CT.

Cheers
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #9,724
  • Nov 4, 2009 10:35am Nov 4, 2009 10:35am
The AH would only be applied if we are with the trend, that last call was a counter trend in my opinion.

Just look at this (http://screencast.com/t/I9cpebbh).

Quoting coscorp
Ready with an AH in anycase.
  • #9,725
  • Nov 4, 2009 10:43am Nov 4, 2009 10:43am
Quoting coscorp
nothing personal - however let's please refrain from putting signal service and Jacko in the same post (it's bad enough he's been relegated here into the commercial section) - discuss trades? great that what we are here for - bearing in mind the confidentiality requested by Jacko regarding the private blog.

Now,

I'm leaving the AH in place - I had entered short due to the strength of the break of what I had always considered as the lower TL of the channel and had 14600 as a target - however looking at the charts again

http://screencast.com/t/WMo8xMj7CfYG

I...
Jacko is not a signal service and the word "signal" has already brought this great thread to the "commercial forum".

To those who respect him,it is nice to be sensitive about the word "signal"

Coscorp: I see where your coming from and its highly possible that the market has just bounced off the around 1.4600 support line and could be continuing its upward march.

I am also disappointed by being stopped out since the last breaking of 1.4700 daily support line almost indicated a change in trend.

All we can do is watch and let the market decide its direction or else we could be in the danger of placing CT trades.

cheers
  • #9,726
  • Nov 4, 2009 10:46am Nov 4, 2009 10:46am
Quoting artov
The AH would only be applied if we are with the trend, that last call was a counter trend in my opinion.

Just look at this (http://screencast.com/t/I9cpebbh).
Hi Artov, are you only using the 4H charts or also using the Daily charts?
  • #9,727
  • Nov 4, 2009 10:57am Nov 4, 2009 10:57am
Quoting coscorp
nothing personal - however let's please refrain from putting signal service and Jacko in the same post (it's bad enough he's been relegated here into the commercial section) - discuss trades? great that what we are here for - bearing in mind the confidentiality requested by Jacko regarding the private blog.

Now,

I'm leaving the AH in place - I had entered short due to the strength of the break of what I had always considered as the lower TL of the channel and had 14600 as a target - however looking at the charts again

http://screencast.com/t/WMo8xMj7CfYG...
From my understanding the AH can only be used when you are trading in the direction of the trend, so if you believe the bias is long then you're not supposed to use the AH.

Also, I think we need to wait for price to go 50 pips past the stop loss before placing an order.
  • #9,728
  • Nov 4, 2009 11:00am Nov 4, 2009 11:00am
Quoting artov
The AH would only be applied if we are with the trend, that last call was a counter trend in my opinion.

Just look at this (http://screencast.com/t/I9cpebbh).

You are correct.

Thx for pointing out the misnomer.
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #9,729
  • Nov 4, 2009 11:36am Nov 4, 2009 11:36am
Quoting forexmick
He is legit. Look at my posts above (http://www.forexfactory.com/showpost.php?p=3197379&postcount=9696).
Why did you buy at 1.4753? I can't see any reason for that trade. Or did you like the numbers 4,7 5 and 3?
my reasoning is that we were at a long time weekly high and price was below 1.4700. since previous support has a knack for becoming resistance I wanted price to soar well above 1.4700 before I entered and the next round number was 1.4750 which is where I entered. just got out +90 pips a few minutes ago
  • #9,730
  • Nov 4, 2009 12:16pm Nov 4, 2009 12:16pm
Both

Quoting noobistrader
Hi Artov, are you only using the 4H charts or also using the Daily charts?
  • #9,731
  • Nov 4, 2009 2:08pm Nov 4, 2009 2:08pm
Just trade what the charts show, NOT what you 'think' they may be about to do.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusddaily.gif Size: 25 KB
  • #9,732
  • Nov 4, 2009 2:17pm Nov 4, 2009 2:17pm
Quoting Ninja
Anyone long from 1.4650 area?
Moved stop to 1.4800...long since 1.4650
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-11-03_1813.png Size: 27 KB
  • #9,733
  • Nov 4, 2009 2:51pm Nov 4, 2009 2:51pm
Oh dear,
Why trade againts the trend?
Why trade on strong news?
It's not making any sence to me.
  • #9,734
  • Edited 11:37pm Nov 4, 2009 11:34pm | Edited 11:37pm
Quoting herzog21
what got u so worked up?
am i not allowed to ask bout this failed trade here and discuss what has gone wrong and try to learn something from here?
when price never broke 14600 ish level and price moved up,14700 area would have been a good level to enter,14650,even better,nice trade ninja,when price broke 14750 also mp was were i added too trade,nice to wake up and be stopped out at 14850,if i was to ct this area 14850 area,would be a great price,but i will wait for london to open,and might not trade the rest of the week,the last few months the way the euro has been following the dow has made this easy,everyone has been waiting for dow to tank and dollar to be strong,not yet best stick with the trend till it ends
student
  • #9,735
  • Nov 5, 2009 6:28am Nov 5, 2009 6:28am
Quoting TradeOne
From my understanding the AH can only be used when you are trading in the direction of the trend, so if you believe the bias is long then you're not supposed to use the AH.

Also, I think we need to wait for price to go 50 pips past the stop loss before placing an order.
You are correct - my entry was different than Jacko's (as was my sl) thus my parameters were a little different.

Cheers
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #9,736
  • Nov 5, 2009 12:35pm Nov 5, 2009 12:35pm
Quoting coscorp
I had entered short due to the strength of the break of what I had always considered as the lower TL of the channel and had 14600 as a target - however looking at the charts again

http://screencast.com/t/WMo8xMj7CfYG
That's a bit of a revisionist lower TL, the original TL everyone was watching was broken. The same headfake also occurred on the S&P 500 TL (which the bears aren't too happy to admit). Difficult for these one-day breaks to account for anything during the heightened volatility of FOMC/NFP/BoE/ECB week.
  • #9,737
  • Nov 5, 2009 2:58pm Nov 5, 2009 2:58pm
Quoting Trader KGB
That's a bit of a revisionist lower TL, the original TL everyone was watching was broken. The same headfake also occurred on the S&P 500 TL (which the bears aren't too happy to admit). Difficult for these one-day breaks to account for anything during the heightened volatility of FOMC/NFP/BoE/ECB week.
Hi TraderKGB good to see you here,

You do have a point regarding this week being critical - I like everyone was watching that TL (who wasn't)and given the strength of the break was convinced price would go all the way to 14600. However, the one in question albeit being apparently a weaker TL given that price has reacted to it in fewer occasions, I'm keen on giving it quite a bit of credit if nothing else for the fact that a) price reacted to it in what should have been for all accounts a free fall to 14600 area b) it's historical value having begun sooner IMHO as the TL we were all looking at was, in my view, spurned afterwards...c) the first one didn't hold (and is actually riddled with holes now)....the older one...did.

In anycase - whether or not it is revisionist (or even valid under a TA point of view) I'm keeping that TL very well in mind for the future as,already mentioned, price reacted to it.
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #9,738
  • Nov 5, 2009 3:33pm Nov 5, 2009 3:33pm
Quoting coscorp
Hi TraderKGB good to see you here
Good to see you too coscorp,

All good points, and you're right, the newer TL can now hold greater validity as the old one has indeed been spurned too many times. I just meant not to look at it in hindsight and beat yourself up, everyone was watching the one that was broken.

I was almost in the same trade as you for the exact same reason, I just wanted to wait til post-FOMC, I had a feeling the Fed was not going to change the wording (they probably considered it, but were likely spooked at the market's ~5% selloff on the mere rumor of it). Call me a conspiracy theorist, but I'd say the lack of wording change was itself leaked, hence the unusual buying spree pre-Fed..

The trade I should have taken was the break on the H1 downtrend, unfortunately that came pre-Fed and I was bit skittish.
http://i36.tinypic.com/2utt82b.gif

Speaking of TLs, that darker one above dates back to Jan 2002. That was the big TL break back in Fall '08, very bullish to see fiber reclaim it, I thought it might be history..
  • #9,739
  • Nov 5, 2009 3:35pm Nov 5, 2009 3:35pm
was the first TL really broken?

on my charts the first TL is fromthe lows of 5/3, 28/4, 4/9 and 29/10.

on 3/11 price pierced this TL at 1.4728. however that candle closed at 1.4723. just 5 points below the tl! i wouldnt call that a confident piercing.

i would want price to CLOSE properly below the TL to consider it a breaking of the TL.

this particular TL has never had a proper close below it from this year.

Quoting coscorp
Hi TraderKGB good to see you here,

You do have a point regarding this week being critical - I like everyone was watching that TL (who wasn't)and given the strength of the break was convinced price would go all the way to 14600. However, the one in question albeit being apparently a weaker TL...
  • #9,740
  • Nov 5, 2009 4:10pm Nov 5, 2009 4:10pm
Quoting coolshades
was the first TL really broken?

on my charts the first TL is fromthe lows of 5/3, 28/4, 4/9 and 29/10.

on 3/11 price pierced this TL at 1.4728. however that candle closed at 1.4723. just 5 points below the tl! i wouldnt call that a confident piercing.

i would want price to CLOSE properly below the TL to consider it a breaking of the TL.

this particular TL has never had a proper close below it from this year.

interesting point.....and given how it held on Nov 4th (D1 TF)...definitely not done fighting yet...however it did recieve quite a blow on Nov 3 and multiple blows on H4....thus...I shall tread carefully around it.
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
1 trader viewing now