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The ForexMick Trade Journal- Jacko style

  • #121
  • Apr 21, 2010 8:45am Apr 21, 2010 8:45am
This is turning out to be a beautiful week
  • #122
  • Apr 21, 2010 9:14am Apr 21, 2010 9:14am
Quoting captmilkdud
Jacko uses big round numbers, horizontal S/R and TL's along with Fibs (primarily 50%).
It was my understanding that he only paid attention to the 50% level (i.e. no actual fib levels).

Are you sure about the "horizontal S/R" levels - from what I recall he never really mentioned this in his Forex Factory thread, more than saying he uses round numbers which you could argue equates to horizontal s/r. Maybe this is a new addition.

Regards,

Dan
  • #123
  • Apr 21, 2010 9:58am Apr 21, 2010 9:58am
Quoting DanUK
It was my understanding that he only paid attention to the 50% level (i.e. no actual fib levels).

Are you sure about the "horizontal S/R" levels - from what I recall he never really mentioned this in his Forex Factory thread, more than saying he uses round numbers which you could argue equates to horizontal s/r. Maybe this is a new addition.

Regards,

Dan
Hi Dan. I remember him mentioning them (horizontal s/r's that weren't BRN's [big round numbers]) but not as entries but areas of concern. And as far as entries on fibs he only uses the 50% but has mentioned the others. Sorry for the confusion.

He recently modified his entries around BRN's and now has been entering 10 pips or less between the price and the BRN target because of price not quite making it to the BRN in recent trades.

Happy trails to you
  • #124
  • Apr 21, 2010 10:05am Apr 21, 2010 10:05am
Quoting captmilkdud
Hi Dan. I remember him mentioning them (horizontal s/r's that weren't BRN's [big round numbers]) but not as entries but areas of concern. And as far as entries on fibs he only uses the 50% but has mentioned the others. Sorry for the confusion.

He recently modified his entries around BRN's and now has been entering 10 pips or less between the price and the BRN target because of price not quite making it to the BRN in recent trades.

Happy trails to you
Hi,

That's interesting, thanks.

I also use round numbers to trade from so perhaps this is something I should have a look at too!

Regards,

Dan
  • #125
  • Apr 21, 2010 11:25am Apr 21, 2010 11:25am
I am stuck in these godforsaken GBP trades while I watch jacko trounce me this week with his EUR trades. Bloody British pound.
  • #126
  • Apr 21, 2010 1:16pm Apr 21, 2010 1:16pm
Quoting forexmick
I am stuck in these godforsaken GBP trades while I watch jacko trounce me this week with his EUR trades. Bloody British pound.
Still in?
You must have at least a 140 pip sl on your 1.5300 trade.
  • #127
  • Apr 21, 2010 3:28pm Apr 21, 2010 3:28pm
Quoting captmilkdud
Still in?
You must have at least a 140 pip sl on your 1.5300 trade.
Yes I do. The ATR of the gbp is 50% bigger than the eur. After reading the blog today, at least I know now why the gbp is staying up.
  • #128
  • Apr 21, 2010 3:39pm Apr 21, 2010 3:39pm
Since starting to trade full time ,which pairs have been most profitable useing Waynes methods ,Mick ?
  • #129
  • Apr 21, 2010 3:48pm Apr 21, 2010 3:48pm
Quoting capitalx
Jacko is up about 400 pips so far this week but your gbp/usd are not doing as well. Is it because you are trading the gbp/usd? Jacko only trades the eur/usd with good results. Why do you trade the gbp/usd?
He is trading better than me this week. My gbp trade is not doing as well but at least I know now why the gbp is staying up. I had a question, I asked it, I got my answer by return email and then it was posted on the blog for the other traders to see.
Why do I trade the gbp/usd? I like to trade more than Jacko. He trades in large lots and I am building up my lot sizes. This week it was a mistake to trade the gbp compared to trading the eur. I am stuck in a gbp trade and Jacko has banked well more than 400 pips from 4 trades in 3 days. But next week could be different. The gbp hopefully will follow the eur.
  • #130
  • Apr 21, 2010 4:08pm Apr 21, 2010 4:08pm
Quoting forexmick
I had a question, I asked it, I got my answer by return email
Is this journal just a sales pitch for Jackos blog?

Also see that you post entry points but no stop losses so what is it proving?
  • #131
  • Apr 21, 2010 4:30pm Apr 21, 2010 4:30pm
Quoting fxprocessor
Is this journal just a sales pitch for Jackos blog?

Also see that you post entry points but no stop losses so what is it proving?
Jacko dosn't need a sales pitch

He's up over 425 pipps since Monday,and so am i
  • #132
  • Apr 22, 2010 6:53am Apr 22, 2010 6:53am
Quoting forexmick
He is trading better than me this week. My gbp trade is not doing as well but at least I know now why the gbp is staying up....
Yeah, true that. I always found Wayne very courteous, polite and informative; both publicly and especially in private communications.

A lesson for us all, no doubt.

Regards,
  • #133
  • Apr 22, 2010 8:41am Apr 22, 2010 8:41am
arrowloopboy

This is turning out to be a beautiful week...
He's up over 425 pipps since Monday..




You also work for the Jacko's blog ?
  • #134
  • Apr 22, 2010 10:27am Apr 22, 2010 10:27am
Quoting substanz1973
arrowloopboy

This is turning out to be a beautiful week...
He's up over 425 pipps since Monday..




You also work for the Jacko's blog ?
No but Jackos "working" for me

If ya get me
  • #135
  • Apr 22, 2010 6:10pm Apr 22, 2010 6:10pm
Quoting forexmick
He is trading better than me this week. My gbp trade is not doing as well but at least I know now why the gbp is staying up....
I am still stuck in my gbp/usd trades but the pressure is now dropping away fast.
  • #136
  • Apr 23, 2010 4:51am Apr 23, 2010 4:51am
Quoting forexmick
I am still stuck in my gbp/usd trades but the pressure is now dropping away fast.
What is your TP on GBP/USD? You planning to hold over the weekend?
  • #137
  • Apr 23, 2010 10:37pm Apr 23, 2010 10:37pm
Quoting Egoman
What is your TP on GBP/USD? You planning to hold over the weekend?
Lower than my entry prices. Yes I am holding them over the weekend.
  • #138
  • Edited 7:58pm Apr 24, 2010 7:07pm | Edited 7:58pm
Quoting kenkomo
He has banked over 400 pips now and the trades are scoring him more now.
You are in Jacko trading group? Is it easy to copy his live trade signals?
  • #139
  • Apr 24, 2010 7:30pm Apr 24, 2010 7:30pm
A quick check on your trades. Are they all right?

Quoting forexmick
I have long term E/U shorts from 1.4900 , 1.4800, 1.4500, 1.4000, 1.3590 and 1.3505 . I am holding for 1.3000. But those trades are excluded from my journal.
Quoting forexmick
Closed Trade one at 1.3496 at 4.30pm NY time. +58
Closed Trade two at 1.5210 at 4.30pm NY time +45
Quoting forexmick
Closed Trade Three at 0.9188 at 10.37pm NY time. +17
Closed Trade Four at 1.3425 at 10.37pm NY time +50
Quoting forexmick
Closed Trade Five at 0.9355 at 10.41am NY time -110
Closed Trade Six at 0.9355 at 10.41am NY time -113
You should have stayed with them. They turned only 9 pips heigher at 0.9564

Quoting forexmick
Trades FIVE and SIX are now waiting for AntiHedges to be activated. I want that money back.
What price is AntiHedges set at?

Quoting forexmick
Closed Trade Seven at 1.3475 at 6.14pm NY time +105
Closed Trade Eight at 1.3475 at 6.14pm NY time + 77
Quoting forexmick
Closed Trade Nine at 1.3455 at 3.22am NY time 2 x +40 = +80
Quoting forexmick
TENTH TRADE

It is 8.15pm NY time Monday I have SOLD at one GBP/USD at 1.5332
Quoting forexmick
ELEVENTH TRADE

It is 1.48am NY time Tuesday I have SOLD at one GBP/USD at 1.5300
= +236 pips in 22 days with 2 trades open. Is this right? And two AntiHedge trades to be beginned.
  • #140
  • Apr 24, 2010 9:34pm Apr 24, 2010 9:34pm
forexmick,

great trading, keep it up. I too am in Jacko's group, and can say it has opened my eyes beyond belief. I have felt it click before, but I am not profitable because I get mad when I lose and hold losing trades for too long, and then jump back in too fast...and I do not always trade with the trend - now I just have to fix these issues
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