Jacko's Forex House of Pleasure and Pain | Page 506 | 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

  • #10,101
  • Jan 3, 2010 10:55pm Jan 3, 2010 10:55pm
Quoting BullsAndBear
Ive been able to trade along side Jacko and i think the answer you are looking for is how he enters at the levels he is looking at. Its good you know how to arrive at the levels he does. the 50 fib with round numbers. He thnks like the big boys do and thats what he tries to get us to look at. The actual entry is based on price action once that level is touched. By examination of a 4hr chart, daily chart, and sometimes, but not lately i dont think, a 1hour chart.

So we are trading in the direction of the trend we hit our retracement level, then...
thanks very much for this reply. It was what i was looking for
  • #10,102
  • Jan 4, 2010 7:53am Jan 4, 2010 7:53am
Are my fibs drawn correctly? Thank you
Attached Image
  • #10,103
  • Jan 4, 2010 8:33am Jan 4, 2010 8:33am
Quoting Coke Can
Are my fibs drawn correctly? Thank you
If you know or have learnt the meaning of fibonacci numbers, you know the answer to your question.

By the way here is a good tip for everyone who uses MetaTrader platform:

By default only the actual fibonacci levels are shown using metatrader platform (like on the chart you posted). If you want to see the price of these levels, right click >> fibo properties, there you have to edit "description", add @%$

for example: if you want to display the price of 50.0 level change the description "50.0" to "50.0 @%$"
Attached Image (click to enlarge)
Click to Enlarge Name: fib_levels.jpg Size: 49 KB
  • #10,104
  • Jan 4, 2010 3:04pm Jan 4, 2010 3:04pm
Wishing fellow Jacko and all traders a prosperous New Year!
Does any body know why this euro cant break 4410 to the downside ...it has been an agonizing last 4 hours??
  • #10,105
  • Jan 4, 2010 3:07pm Jan 4, 2010 3:07pm
Quoting Seatrade
Wishing fellow Jacko and all traders a prosperous New Year!
Does any body know why this euro cant break 4410 to the downside ...it has been an agonizing last 4 hours??
Probably because there is not enough supply to push it down further.
  • #10,106
  • Jan 4, 2010 3:10pm Jan 4, 2010 3:10pm
Quoting sibajnok
If you know or have learnt the meaning of fibonacci numbers, you know the answer to your question.

By the way here is a good tip for everyone who uses MetaTrader platform:

By default only the actual fibonacci levels are shown using metatrader platform (like on the chart you posted). If you want to see the price of these levels, right click >> fibo properties, there you have to edit "description", add @%$

for example: if you want to display the price of 50.0 level change the description "50.0" to "50.0 @%$"
sweet. i was trying to figure this out this morning.

thx
Whats happening in EUR/USD should be happening to you!
  • #10,107
  • Jan 4, 2010 3:12pm Jan 4, 2010 3:12pm
Quoting Tjpld
Probably because there is not enough supply to push it down further.
I believed they tried to push it down during the thin market over the holidays. We are at a trendline and overdue for a retrace. The bears need a rest.

Whats happening in EUR/USD should be happening to you!
  • #10,108
  • Edited 3:26pm Jan 4, 2010 3:22pm | Edited 3:26pm
Quoting Seatrade
Wishing fellow Jacko and all traders a prosperous New Year!
Does any body know why this euro cant break 4410 to the downside ...it has been an agonizing last 4 hours??
usually after London closes, the volume is decreasing.

no wonder there is no power (as Tjpld mentioned: there is not enough supply) to break a resistance level line.

as a ski instructor I would say don't try downhill skiing on flat terrain
  • #10,109
  • Jan 4, 2010 3:51pm Jan 4, 2010 3:51pm
Quoting sibajnok
usually after London closes, the volume is decreasing.

no wonder there is no power (as Tjpld mentioned: there is not enough supply) to break a resistance level line.

as a ski instructor I would say don't try downhill skiing on flat terrain
that is good advice, sometimes I have been known to ski uphill
  • #10,110
  • Jan 4, 2010 6:37pm Jan 4, 2010 6:37pm
Quoting BullsAndBear
I believed they tried to push it down during the thin market over the holidays. We are at a trendline and overdue for a retrace. The bears need a rest.

So should we expect another move downward after this upward retracement?
  • #10,111
  • Jan 4, 2010 7:30pm Jan 4, 2010 7:30pm
hi, i supposed i have read before but probably forget about it, but will like to ask, if the trade moves say 75 pips from 1.4400 to 1.4475 before getting trailed stop at 25pips profit, 1.4425. if say it does not move back 50 pips as wanted, does that mean our next buy stop should be at 1.4500? thanks
  • #10,112
  • Jan 4, 2010 11:58pm Jan 4, 2010 11:58pm
Quoting Checkz
So should we expect another move downward after this upward retracement?

This is what I expect. I think I've heard other opinions. Since we do not have a crystal ball. we use our fibs from the high to the low of the last movement giving us a target of 1.47. When the market reaches that area look for price action to confirm weakness, best seen on the 4h charts and the 1h charts.

Did that help?

bulls
Whats happening in EUR/USD should be happening to you!
  • #10,113
  • Jan 5, 2010 12:41am Jan 5, 2010 12:41am
Quoting BullsAndBear
This is what I expect. I think I've heard other opinions. Since we do not have a crystal ball. we use our fibs from the high to the low of the last movement giving us a target of 1.47. When the market reaches that area look for price action to confirm weakness, best seen on the 4h charts and the 1h charts.

Did that help?

bulls

Can You post a chart on how you have your fibs drawn and are they drawn on the 4 hr or one hr chart? thanks alot for the help!
  • #10,114
  • Jan 5, 2010 4:06am Jan 5, 2010 4:06am
Quoting Coke Can
Are my fibs drawn correctly? Thank you
your fibs are drawn correctly. But Jacko only uses the 50% fib. His historical statistical information shows that the other fibs are not reliable enough to use for trading.
  • #10,115
  • Jan 5, 2010 10:05am Jan 5, 2010 10:05am
What do you guys think of this set up, I placed an order where I think the reversal and continuation of the dollar bear market will continue. In the event the dollar rally has some way to go, I think a short order will be a good idea on the recent low on the 22nd December with a more cautious stop loss.

Anyway, how much pips do you guys, say average weekly trading like this (the proper way)
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.jpg Size: 166 KB
  • #10,116
  • Jan 5, 2010 10:14am Jan 5, 2010 10:14am
Great opportunity here as well. What do you guys think, am I on the right track?
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY.jpg Size: 182 KB
  • #10,117
  • Jan 5, 2010 7:19pm Jan 5, 2010 7:19pm
My first post as a Jacko turtle. (My late Christmas present to myself). I copied his first trade for 2010 and now closed for nice profits. My joining payment has now been 3/4 payed back from this trade. The private blog is better than I expected.
  • #10,118
  • Jan 5, 2010 8:08pm Jan 5, 2010 8:08pm
Quoting capitalx
My first post as a Jacko turtle. (My late Christmas present to myself). I copied his first trade for 2010 and now closed for nice profits. My joining payment has now been 3/4 payed back from this trade. The private blog is better than I expected.

gd for you! will like to ask , roughly how big is your account or how much % gain is that trade? given the fee costs 700 USD, either the gain is large or your trade % is large..
  • #10,119
  • Jan 5, 2010 10:18pm Jan 5, 2010 10:18pm
Quoting jacko
Why do I trade Forex?
Because I am ABSOLUTELY CONVINCED that this is the best "business" in the world.

.
Hello all, I am new to this forum. I have been watching my husband trade for the past 2 years, and have to say that I agree with Jacko's quote above. I have learnt a lot by watching and listening but have done nothing yet apart from open a couple of demo accounts.

This new year's resolution is to trade and after discussing the options with my husband we decided that Jacko's method would be suitable and do-able for me given my work schedule. I am very exited but not in a rush.

I will be checking the forum daily. Thank you all and thank you Jacko for being here. I wouldn't know where to start were it not for you all.

A very happy new year to you.
  • #10,120
  • Jan 6, 2010 1:13am Jan 6, 2010 1:13am
Hi all
Given the length of the thread, I am wondering if the best way to learn and trade Jacko's style is to start from the beginning of the thread or is there a post where is has an updated version etc.

Your help is appreciated.

Many thanks.
What you do is a reflection of you....what I do is a reflection of me.
0 traders viewing now