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Jacko's Forex House of Pleasure and Pain

  • #10,481
  • Feb 16, 2010 10:22am Feb 16, 2010 10:22am
That spike up took me out of my short. Am getting ready to try Jacko's AH strategy for the first time.
  • #10,482
  • Feb 16, 2010 11:07am Feb 16, 2010 11:07am
I went Long at 1.3658.
Looking good so far, next resistance 1.38
Cheers
Ogeid
  • #10,483
  • Feb 16, 2010 12:13pm Feb 16, 2010 12:13pm
Quoting ogeid
I went Long at 1.3658.
Looking good so far, next resistance 1.38
Cheers
Ogeid
Long as well... @3600. Target 4100.

I have charts and stuff, but just click the link in my signature to view them. It out lines my whole plan...
  • #10,484
  • Feb 18, 2010 12:58am Feb 18, 2010 12:58am
made some pips on the last retrace, came down so fast didnt have time for a short, (also the seppo sesh is sleepy time for me)however am long again from 1.3571 still believe we are heading for a retrace towards the dailly resistance line at about 1.4100, also 50% fib of last move is about 1.4150. 1.3600 seems to be offering good support but 1.3800 50% fib of last years move up is offering staunch resistance so we may just move sideways till we hit the daily resistance trendline. IMO
watching pa closely at present as is a CT trade
  • #10,485
  • Feb 18, 2010 1:24am Feb 18, 2010 1:24am
mind you I could be wrong
  • #10,486
  • Feb 18, 2010 2:42pm Feb 18, 2010 2:42pm
Looks like I am the newest noob in the house (until the next newest noob comes along...)

I come fresh from four frustrating years in the land of M5... Good ole PMA has a lot to answer for!

Very new to this type of trading, so it might as well be day one in Forex for me... Still trying to catch up on Jacko's pearls in this thread. Reading PA is new waters for me, rather than reading an indi (or a dozen of them).

Current observation is that the 1.36 handle is proving sticky in the short term. I noticed that a couple of others went long yesterday/day before, but aren't the Daily, H4 and H1 all still predominetly down? Or were these orders prompted by the 'blip' through the H4 trend on the 16th?

Despite the 'blip', the PA is still seemingly honouring the H4 trendline, at least through the latest US session with closes underneath it...

Are we currently proofing a double bottom perhaps? Are we headed for a flag where the 1.36 meets the H4 trend?

Do we have any of Jacko's Turtles trading in here? I notice that Jacko hasn't posted since Christmas...

Regs,

PPP
How do you make a small fortune in Forex? Start with a large one!
  • #10,487
  • Feb 18, 2010 2:51pm Feb 18, 2010 2:51pm
Hi,

Yes the current trend is down. I can't see any reason to buy E/U at the moment, so I think the best advice to a newb would be to watch for a retrace to go short.

If you must go long, please wait for confirmation that the trend has changed... don't go jumping the gun!

Regards,

Dan
  • #10,488
  • Feb 18, 2010 3:26pm Feb 18, 2010 3:26pm
Quoting DanUK
Hi,

Yes the current trend is down. I can't see any reason to buy E/U at the moment, so I think the best advice to a newb would be to watch for a retrace to go short.

If you must go long, please wait for confirmation that the trend has changed... don't go jumping the gun!

Regards,

Dan
Thanks Dan, will do.

PPP
How do you make a small fortune in Forex? Start with a large one!
  • #10,489
  • Edited 7:58pm Feb 18, 2010 4:56pm | Edited 7:58pm
Quoting paidperpip
Thanks Dan, will do.

PPP
Missed the 21:00 candle when I was taking the kids to school. On reflection, a stop order under 1.36 would have been a good idea. Currently short from 1.34946... Lets see how it plays out...
Attached Image (click to enlarge)
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How do you make a small fortune in Forex? Start with a large one!
  • #10,490
  • Feb 19, 2010 8:40am Feb 19, 2010 8:40am
Quoting paidperpip
Missed the 21:00 candle when I was taking the kids to school. On reflection, a stop order under 1.36 would have been a good idea. Currently short from 1.34946... Lets see how it plays out...
I think that if you want to be more "jacko-style", you should first get your chart as clean as you can.
  • #10,491
  • Feb 19, 2010 9:57am Feb 19, 2010 9:57am
I see some people are long (seeing this down move as a big retrace) and looking for this to go back to 1.4000 and some of you are getting short at this (late?) level, looking for this to go as far as 1.2700.....

What am I missing?

Also, has Jacko gone missing? No posts from him.....


Greetings, wish you all a Great Weekend...
  • #10,492
  • Feb 19, 2010 10:00am Feb 19, 2010 10:00am
I guess that's what makes markets....
  • #10,493
  • Feb 19, 2010 10:20am Feb 19, 2010 10:20am
Quoting jonpoler
I guess that's what makes markets....
LOL....how true....all these Longs and Shorts are messing with my Profits

I wish you guys success, wheter you're long or short....
  • #10,494
  • Feb 19, 2010 11:09am Feb 19, 2010 11:09am
Quoting petercross
LOL....how true....all these Longs and Shorts are messing with my Profits

I wish you guys success, wheter you're long or short....
Yes that is true of course!!

The thing to remember though is that 95% of retail traders fail because they are trying to pick turning points (tops/bottoms) in the market. The big boys and those that succeed are (mostly) the ones who are happy to accept that a trend is in place and are willing to take advantage of it!

Regards,

Dan
  • #10,495
  • Feb 20, 2010 3:44pm Feb 20, 2010 3:44pm
...
Its all in the mind.
  • #10,496
  • Feb 20, 2010 4:34pm Feb 20, 2010 4:34pm
Quoting DanUK
Yes that is true of course!!

The thing to remember though is that 95% of retail traders fail because they are trying to pick turning points (tops/bottoms) in the market. The big boys and those that succeed are (mostly) the ones who are happy to accept that a trend is in place and are willing to take advantage of it!

Regards,

Dan
Wise words, succinctly delivered!!!
  • #10,497
  • Feb 20, 2010 5:48pm Feb 20, 2010 5:48pm
Quoting 5abi
...
Hong Kong
  • #10,498
  • Edited 7:51pm Feb 20, 2010 6:41pm | Edited 7:51pm
Quoting petercross
I see some people are long (seeing this down move as a big retrace) and looking for this to go back to 1.4000 and some of you are getting short at this (late?) level, looking for this to go as far as 1.2700.....

What am I missing?

Also, has Jacko gone missing? No posts from him.....


Greetings, wish you all a Great Weekend...
Greetings Peter....
I started shorting this in early Dec. @ 1.4889, Then took a few long trades towards the en of Dec, then short again since 1.4367.......
I also expect this to go even lower....

Also Jacko is back now.
  • #10,499
  • Feb 21, 2010 12:19am Feb 21, 2010 12:19am
Quoting tradestar1

Also Jacko is back now.
Jacko had to go back to the United States for a week for a family emergency, but he is back now
He is back now and posting regularly on his blog. He posts updates at 3.00am NY time, 8.00am NY time, 12.10pm NY time and 7.00pm NY time every day. These times correspond to London opening, US opening, US lunch and Asian open.
  • #10,500
  • Feb 21, 2010 12:35am Feb 21, 2010 12:35am
ps. jacko never posts on here. maybe once a year to say merry xmas thats it.
if u want to see his posts best bet is to join his group i would imagine.
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