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Jacko's Forex House of Pleasure and Pain

  • #10,661
  • Apr 2, 2010 2:19am Apr 2, 2010 2:19am
I do not want to open a discussion on the semantics of the word "partial".
In this case it does not mean scaling out a position but it refers to take a small profit.
Small profit better than a loss, or move your SL to BE or to plus 10 pips as soon as you can.
Cheers
  • #10,662
  • Apr 2, 2010 2:52am Apr 2, 2010 2:52am
Quoting fenlander
Hi Ogeid,
Read the posts in the Private forum and you will not see any mention of
moving SL to BE, or taking partial profits.
Regards.

Hi fenlander.

Best you re-read all the post's in his private forum.

Kind regards,



BabeFX.
  • #10,663
  • Apr 2, 2010 3:36am Apr 2, 2010 3:36am
Ok, OK. I think we are splitting hairs here.
In the past, I agree Jacko has moved his stop to BE on a couple of occasions
but this is not his general approach and is not what I understand to be his
methodology. In the two years or so that I have been in the group this moving
SL to BE is very rare.
Regards
  • #10,664
  • Apr 2, 2010 3:52am Apr 2, 2010 3:52am
hi guys..just wondering..
EU hit passed 50% fibs and now bouncing off that TL ..
but it's NFP day.any input? i have a sell in demo ..just to follow the rule regardless of news.
Attached Image (click to enlarge)
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  • #10,665
  • Apr 2, 2010 3:57am Apr 2, 2010 3:57am
Hi BabeFX,

Have you got anything going on at the moment: open trades or potentials?

Cheers
Ogeid
  • #10,666
  • Apr 2, 2010 3:58am Apr 2, 2010 3:58am
Quoting fenlander
Ok, OK. I think we are splitting hairs here.
In the past, I agree Jacko has moved his stop to BE on a couple of occasions
but this is not his general approach and is not what I understand to be his
methodology. In the two years or so that I have been in the group this moving
SL to BE is very rare.
Regards

Correct.
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #10,667
  • Apr 2, 2010 4:21am Apr 2, 2010 4:21am
Quoting ogeid
I do not want to open a discussion on the semantics of the word "partial".
In this case it does not mean scaling out a position but it refers to take a small profit.
Small profit better than a loss, or move your SL to BE or to plus 10 pips as soon as you can.
Cheers
I don't want to either but that is not the definition of a partial profit, partial profit is closing part of your position, not closing the whole position for a small profit.
  • #10,668
  • Apr 3, 2010 11:18pm Apr 3, 2010 11:18pm
Quoting BabeFX
Benefit 2. You will learn that even a self professed professional trader can make basic mistakes like entering a a buy order at a supply zone and a sell order at a demand zone.
I LoL'd.
  • #10,669
  • Apr 5, 2010 4:56pm Apr 5, 2010 4:56pm
Quoting mongreldog66
I have learned those two lessons too. But my learning has been lots more than that. I have been a member for months now and have learned more practical knowledge than I had thought when I joined. Wayne has been patient with all my questions and answered them all in short time.
I have watched him trade all his trades and read all his blog entries and all the other traders questions.
He is a big professional trader who is willing to share his experience with newbie traders and experienced traders.
I have learned about patience and...
Thank you for this. Veery helpful to me.Good
  • #10,670
  • Apr 6, 2010 12:48am Apr 6, 2010 12:48am
Quoting ogeid
Hi BabeFX,

Have you got anything going on at the moment: open trades or potentials?

Cheers
Ogeid

Hi ogeid,

Currently short Eur/Usd & Eur/Jpy.

Regards,

BabeFX


Better to be out of the market wishing you were in, than in the market wishing you were out.
  • #10,671
  • Apr 6, 2010 2:52am Apr 6, 2010 2:52am
Quoting BabeFX
Hi ogeid,

Currently short Eur/Usd & Eur/Jpy.

Regards,

BabeFX


Better to be out of the market wishing you were in, than in the market wishing you were out.
Hi BabeFx,

thanks for your reply.
I am also short from 1.355 and 1.350

Cheers
Ogeid
  • #10,672
  • Apr 6, 2010 3:10am Apr 6, 2010 3:10am
Quoting ogeid
Hi BabeFx,

thanks for your reply.
I am also short from 1.355 and 1.350

Cheers
Ogeid

Hi Ogeid,

Well done, they could well turn out to be very profitable for you considering the current fundamentals.

Regards.

BabeFX
  • #10,673
  • Apr 6, 2010 5:59am Apr 6, 2010 5:59am
Quoting fenlander
Ok, OK. I think we are splitting hairs here.
In the past, I agree Jacko has moved his stop to BE on a couple of occasions
but this is not his general approach and is not what I understand to be his
methodology. In the two years or so that I have been in the group this moving
SL to BE is very rare.
Regards
Huh??????
Must be a different Jacko you're referring to. Or perhaps you mean to exactly BE. He started adding a few pips in profit from BE a year or so ago per Mark's suggestion because it looked better on the books than just BE.
  • #10,674
  • Apr 6, 2010 8:30am Apr 6, 2010 8:30am
Quoting captmilkdud
Huh??????
Must be a different Jacko you're referring to. Or perhaps you mean to exactly BE. He started adding a few pips in profit from BE a year or so ago per Mark's suggestion because it looked better on the books than just BE.
Hi captmikdud,
Yea OK, he has added a few pips to BE on occasion. But I think you get my general point.
Regards
  • #10,675
  • Apr 7, 2010 9:26am Apr 7, 2010 9:26am
hy guys, this system looks good but there is one thing that i haven't understand or maybe i haven't read pages enough ( and already read many pages... ).

The worst case of this system is when a reverse is happening, in this case our SL could be large until we start follow the trend in the opposite direction, what is our solution for this situation and there is any filter or technique to identify major trend reversal ?
  • #10,676
  • Apr 7, 2010 4:57pm Apr 7, 2010 4:57pm
Quoting kaydara
hy guys, this system looks good but there is one thing that i haven't understand or maybe i haven't read pages enough ( and already read many pages... ).

The worst case of this system is when a reverse is happening, in this case our SL could be large until we start follow the trend in the opposite direction, what is our solution for this situation and there is any filter or technique to identify major trend reversal ?
Maximum Stop Loss is 50-100 pips, depending on how you trade the system.
  • #10,677
  • Apr 7, 2010 6:05pm Apr 7, 2010 6:05pm
yes i know, but you keep putting a order in the same spot you have lost the last, that's right ?

How many orders will you put till you give up and try to catch the trend in the opposite direction ?

Till the next TF defines the trend direction ?

Am i missing something with this doubts ?
  • #10,678
  • Apr 8, 2010 2:16am Apr 8, 2010 2:16am
Quoting forexmick
Maximum Stop Loss is 50-100 pips, depending on how you trade the system.
Hi Forexmick - that's an interesting statement. Once I discovered that J had changed to a 100 pip trailing stop due to increased volatility I did the same. But from what you've written it sounds as if there are methods for still using 50 pips. Are you able to elaborate without giving anything away from the private group?

Thanks, G
When in doubt, sit on your hands...
  • #10,679
  • Apr 8, 2010 3:07am Apr 8, 2010 3:07am
Quoting kaydara
yes i know, but you keep putting a order in the same spot you have lost the last, that's right ?

How many orders will you put till you give up and try to catch the trend in the opposite direction ?

Till the next TF defines the trend direction ?

Am i missing something with this doubts ?
No you only do the anti hedge once, if that fails as well you don't do an AH on an AH.
  • #10,680
  • Apr 8, 2010 3:54am Apr 8, 2010 3:54am
Ok,

I am trying to start with this technique, i have a pending sell limit @ 1.33113 with SL 50 Pips, is this correct ? or should i try another entry point ?
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