Jacko's Forex House of Pleasure and Pain | Page 554 | 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

  • #11,061
  • Jun 7, 2010 11:51pm Jun 7, 2010 11:51pm
Quoting mud3210
Seems like he is very confident in his anti-hedge strategy, but how is he able to know if a trend change is just around the corner or not when doing this?
You can never know if a trend change is just around the corner but the basic premise behind trend trading (on longer time frames at least) is that the trend will continue. And on the whole, that assumption works.

Regards,

Dan
  • #11,062
  • Jun 7, 2010 11:53pm Jun 7, 2010 11:53pm
Quoting mud3210
i cannot find the part where Jacko explain how he exits his trades. If in a uptrend, he entered at the support level, I doubted he would target his exit at the resisitant (suppose we drew the trendlines in a channel).. coz it seems too far and price may fall back. Can someone explain how he would target his exits pls, thanks.

Seems like he is very confident in his anti-hedge strategy, but how is he able to know if a trend change is just around the corner or not when doing this?
I would imagine it's just intuition. If you studied the markets for 15+ years, you would start to see stuff in a different way i would hope
Many choose unhappiness over uncertainty.
  • #11,063
  • Jun 8, 2010 12:06am Jun 8, 2010 12:06am
Hi Folks,

For those of you who have been waiting patiently ( as well as those of you waiting impatiently) for a sell opportunity, be careful of entering the market too close to the current strong support area now building.

There will be huge stops placed above current levels, these stops could easily be triggered on a move towards your ideal entry position.

Rather wait for an exhaustion bar to form on the 4hr (Better still the daily) before entering short on the the base of the bar.


Regards,


BabeFX.
  • #11,064
  • Edited 12:47am Jun 8, 2010 12:15am | Edited 12:47am
Quoting BabeFX
Hi Folks,
For those of you who have been waiting patiently ( as well as those of you waiting impatiently) for a sell opportunity, be careful of entering the market too close to the current strong support area now building...
I waiting a sell at 1.21970, would that be safe?.. but i wonder when's that going to happen haha..

Quoting DanUK
You can never know if a trend change is just around the corner but the basic premise behind trend trading (on longer time frames at least) is that the trend will continue. And on the whole, that assumption works.
That would be very risky, i think.. if theres indeed a trend change and im still sticking to my assumption that the trend will continue and i still continue my anti-hedge, i will burst my account sooner than i realise.. really takes an expert to be able do this anti-hedging strategy well.


Thanks, Tenapenny
  • #11,065
  • Jun 8, 2010 12:23am Jun 8, 2010 12:23am
Quoting mud3210
Sorry which pair r u talking about?... and what is "BE"?
EUR/USD BE= break even
  • #11,066
  • Jun 8, 2010 12:30am Jun 8, 2010 12:30am
Quoting bez3000
Try this
http://www.forexfactory.com/showthread.php?t=187619

thank you ..
  • #11,067
  • Jun 8, 2010 12:31am Jun 8, 2010 12:31am
Quoting mud3210
May i know vsa is a member name or issit this link:
http://www.forexfactory.com/showthread.php?t=154339

Is this the correct url for the no brainer trades:
http://www.forexfactory.com/showthread.php?t=86429

Are you referring to the "Silent Service Method" by clockwork71?


If i am not wrong , this one should be the latest thread by DanUK:
http://www.forexfactory.com/showthread.php?t=221375
thank you ....
  • #11,068
  • Jun 8, 2010 11:25am Jun 8, 2010 11:25am
Quoting mud3210
That would be very risky, i think.. if theres indeed a trend change and im still sticking to my assumption that the trend will continue and i still continue my anti-hedge, i will burst my account sooner than i realise.. really takes an expert to be able do this anti-hedging strategy well.


Thanks, Tenapenny
No not really. You only use the anti-hedge if the trend is still technically valid. And you only use it once.

Traditionally (i.e. without the A-H strategy) you would place an order with the trend and your stop would be positioned quite a long way away - placed strategically so that you would only get stopped out if the trend had actually changed.

The basic idea of the A-H strategy is that it allows you to have a smaller stop. If you get stopped out you can A-H back in so long as price hasn't broken the area that you would traditionally have been looking at.

Hopefully that makes sense.

Regards,

Dan
  • #11,069
  • Jun 8, 2010 12:27pm Jun 8, 2010 12:27pm
Quoting DanUK
No not really. You only use the anti-hedge if the trend is still technically valid. And you only use it once.

Traditionally (i.e. without the A-H strategy) you would place an order with the trend and your stop would be positioned quite a long way away - placed strategically so that you would only get stopped out if the trend had actually changed.

The basic idea of the A-H strategy is that it allows you to have a smaller stop. If you get stopped out you can A-H back in so long as price hasn't broken the area that you would traditionally have...

the only flaw I see with the anti-hedge is how 100 pips might not be the ideal trail range. I feel that the trail needs to be adjusted with the average daily range so as to keep adapting to the way the markets are behaving at any particular time. I dunno.... I'm just throwing it out there. Although I also believe that the trailing stop takes SO MUCH out of the psychology element because your trade is set and ready to go, the rest of what happens isn't up to the trader, it's up to the markets to decide what happens next.
Many choose unhappiness over uncertainty.
  • #11,070
  • Jun 8, 2010 6:23pm Jun 8, 2010 6:23pm
Quoting DanUK
No not really. You only use the anti-hedge if the trend is still technically valid. And you only use it once...
The basic idea of the A-H strategy is that it allows you to have a smaller stop. If you get stopped out you can A-H back in so long as price hasn't broken the area that you would traditionally have been looking at.
Yes i was just thinking about it, and i figured the AH strategy is for us to have a smaller stop, i think its somewhat like how some ppl do it the traditional way:
Step 1- "you buy when knowing its an uptrend" and then
Step 2- "you buy (again) when your indicators have confirmed it's going up"
by using AH strategy, we are doing Step 2 first then Step 1.
  • #11,071
  • Jun 9, 2010 1:21am Jun 9, 2010 1:21am
Hi all + sorry if this has been asked here before.

Lets asume we have a entered a sell trade at 1.2000 an got stopped out at 1.2100

We would wait for 1.2150 to place a AH sellstop at 1.2100

What about placing immediate after the SL has been triggered a sellstop at the entry level of 1.2000

So if the trend is valid and shows up again we would lower the risk of missing the AH trade by price not going above SL+50
  • #11,072
  • Jun 9, 2010 4:11am Jun 9, 2010 4:11am
Quoting Eau Rouge
Hi all + sorry if this has been asked here before.

Lets asume we have a entered a sell trade at 1.2000 an got stopped out at 1.2100

We would wait for 1.2150 to place a AH sellstop at 1.2100

What about placing immediate after the SL has been triggered a sellstop at the entry level of 1.2000

So if the trend is valid and shows up again we would lower the risk of missing the AH trade by price not going above SL+50
that`s not a bad idea, I also was thinking about it. It can also be entered as aditional trade sometimes. But it is up to everiones discretion.
  • #11,073
  • Jun 9, 2010 5:20am Jun 9, 2010 5:20am
Quoting Eau Rouge
Hi all + sorry if this has been asked here before.

Lets asume we have a entered a sell trade at 1.2000 an got stopped out at 1.2100

We would wait for 1.2150 to place a AH sellstop at 1.2100

What about placing immediate after the SL has been triggered a sellstop at the entry level of 1.2000

So if the trend is valid and shows up again we would lower the risk of missing the AH trade by price not going above SL+50
Hold on a minute though... that could be risky.

It could be that 1.2000 is acting as a bottom... so you might go and sell again and find price bounces up again and you get stopped out for another 100 pips. Whereas if you entered at 1.2100 you would be at BE by that time.

The AH works well but you have to learn how and when to use it. There is no shortcut to learning to trade properly.

Regards,

Dan
  • #11,074
  • Jun 9, 2010 5:23am Jun 9, 2010 5:23am
Quoting Dan Gilbert
the only flaw I see with the anti-hedge is how 100 pips might not be the ideal trail range. I feel that the trail needs to be adjusted with the average daily range so as to keep adapting to the way the markets are behaving at any particular time. I dunno.... I'm just throwing it out there. Although I also believe that the trailing stop takes SO MUCH out of the psychology element because your trade is set and ready to go, the rest of what happens isn't up to the trader, it's up to the markets to decide what happens next.
Hi Dan,

I agree on both counts... I don't use the 100 pip stop these days as I have taken a more relaxed approach to the markets.

When I learned to trend trade I used the 100 pip stop loss and trailed it every 100 pips and if you can stick to the rules it does help you/prevent you from buggering up good trades from fear or greed!

Regards,

Dan
  • #11,075
  • Jun 9, 2010 5:38am Jun 9, 2010 5:38am
Quoting Eau Rouge
Hi all + sorry if this has been asked here before.

Lets asume we have a entered a sell trade at 1.2000 an got stopped out at 1.2100

We would wait for 1.2150 to place a AH sellstop at 1.2100

What about placing immediate after the SL has been triggered a sellstop at the entry level of 1.2000

So if the trend is valid and shows up again we would lower the risk of missing the AH trade by price not going above SL+50
Hi Eau Rouge,

Placing a sell stop at 1.2000 is entering at the same level as your previously stopped out trade entry. Therefore, offering you no benefit over that trade & no way in which you can regain the 100 pip loss.

By entering a sell at your stopped out level you are hoping to regain part of, if not all of your loss.

For & against applying the AH Strategy

For : Gives you a predetermined level to re-enter the market without too much soul searching, thereby relieving much of the stress associated with the loss.

Against : Gives the novice a belief that his losses can easily be reclaimed & that trading is risk free, which of course it isn't.

My advice would be to take the loss on the chin & manage future trades more sensibly, starting by moving stops on all in profit trades to break even as soon as possible.


Regards,

BabeFX
  • #11,076
  • Jun 10, 2010 12:22am Jun 10, 2010 12:22am
Hi Folks,

Followers of Jacko's blog beware. You have waited for a opportunity to go short, be very careful as the $ could be overvalued at current levels.

This together with the masses of stops placed above the market could be targeted, this could propel the market a couple of hundred pips or more.

Take care, use protective stops, move in profit trades to break-even as soon as possible.

Regards,


BabeFX.
  • #11,077
  • Jun 10, 2010 3:07am Jun 10, 2010 3:07am
Good point. Theres a very good chance that price will hit support very quickly when his sell order is triggered.
  • #11,078
  • Jun 10, 2010 3:10am Jun 10, 2010 3:10am
Quoting BabeFX
Hi Folks,
Followers of Jacko's blog beware. You have waited for a opportunity to go short, be very careful as the $ could be overvalued at current levels.

This together with the masses of stops placed above the market could be targeted, this could propel the market a couple of hundred pips or more.

Take care, use protective stops, move in profit trades to break-even as soon as possible.
would it be good to start look for opportunities to go long instead? or do not place trades until price leaves the support area to be sure?
  • #11,079
  • Jun 10, 2010 3:18am Jun 10, 2010 3:18am
Quoting mud3210
would it be good to start look for opportunities to go long instead? or do not place trades until price leaves the support area to be sure?
No, not if you are using a trend following strategy.

If you want to go long you should wait until the downtrend has finished - not go in against the prevailing trend. That is the most important part of following the trend.

Regards,

Dan
  • #11,080
  • Jun 10, 2010 3:29am Jun 10, 2010 3:29am
Quoting DanUK
No, not if you are using a trend following strategy.
If you want to go long you should wait until the downtrend has finished - not go in against the prevailing trend. That is the most important part of following the trend.
Got it, thanks !
12 traders viewing now