Jacko's Forex House of Pleasure and Pain | Page 555 | 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

  • #11,081
  • Jun 10, 2010 5:32am Jun 10, 2010 5:32am
Yeah the trend is undeniably down and I'm not talking about placing long orders, I just mean that when the sell order is triggered, be careful as price is going to run into minor support levels pretty quickly.
  • #11,082
  • Jun 10, 2010 6:00am Jun 10, 2010 6:00am
Quoting forexben
Yeah the trend is undeniably down and I'm not talking about placing long orders, I just mean that when the sell order is triggered, be careful as price is going to run into minor support levels pretty quickly.
I'm not a member of the private blog so I don't know when Jacko is planning to sell but I would advise simply to ensure that you have enough room to get your stop to breakeven before that (hitting support) happens!

Regards,

Dan
  • #11,083
  • Jun 10, 2010 6:22am Jun 10, 2010 6:22am
did jacko miss this downtrend? anyways be careful as a stop run is needed!
  • #11,084
  • Jun 10, 2010 7:40am Jun 10, 2010 7:40am
Quoting DanUK
I'm not a member of the private blog so I don't know when Jacko is planning to sell but I would advise simply to ensure that you have enough room to get your stop to breakeven before that (hitting support) happens!

Regards,

Dan
Ha yeah - That was what I was getting at. More journal entries too please Dan!
  • #11,085
  • Jun 10, 2010 3:51pm Jun 10, 2010 3:51pm
Quoting forexben
Ha yeah - That was what I was getting at. More journal entries too please Dan!
Lol! Will do! As I haven't been keeping my house in order lately I thought I would wait until the end of the month and then post a half year report on all trades (open and closed) and then try and keep it up to date from there on!

Regards,

Dan
  • #11,086
  • Jun 10, 2010 10:36pm Jun 10, 2010 10:36pm
Quoting DanUK
Lol! Will do! As I haven't been keeping my house in order lately I thought I would wait until the end of the month and then post a half year report on all trades (open and closed) and then try and keep it up to date from there on!

Regards,

Dan
Funny this just popped up I was thinking about it earlier, Look forward to seeing the update.
The greatest force on earth is compound interest.
  • #11,087
  • Jun 10, 2010 11:32pm Jun 10, 2010 11:32pm
Quoting TGpop
did jacko miss this downtrend? anyways be careful as a stop run is needed!
he has been trying to trade it but has messed up all the way down from 15100. and in losses,thats why he and all his usernames he uses to plug his signal service are all silent.
student
  • #11,088
  • Jun 11, 2010 12:27am Jun 11, 2010 12:27am
Quoting garrye
he has been trying to trade it but has messed up all the way down from 15100. and in losses,thats why he and all his usernames he uses to plug his signal service are all silent.
Please add something useful to this discussion (or any discussion).

This method has merit regardless of Jacko's personal results.
  • #11,089
  • Jun 11, 2010 8:26pm Jun 11, 2010 8:26pm
I know this may have already been covered and I know there are probably multiple people that can answer it, but I've been looking through all the posts and I haven't been able to find the answer. What is the "rule" for entering the same directional trade multiple times at different prices. How do I know when to enter another trade after there has been price movement already in the direction I wanted or should I say the trend suggested?
  • #11,090
  • Jun 12, 2010 2:15am Jun 12, 2010 2:15am
Interesting, i would also really like to read different traders way of entry.........what i am doing is once the trend is set on the Daily, i make first entry on the 4-hr or 6-hr or 8-hr, once in profit i move to a lower TF to look for PA in the Trend direction to add multiple entry as i reduce my SL on my first trade.........................i currently have EU short open for the weekend and waiting for 1-hr PA to add on.......................................but let me try explain above using the week just ended GBPCAD, i did not trade this pair as my account is too small to handle two trades on two different pairs.....................so here goes.................

Daily Trend: Down (First Chart)
4-hr TF: Nice OB at RN 1.5200 trend....make short entry...............at first yellow arrow................. (Second Chart)
1-hr TF: Nice 2-Day PB at 1.5050 with the trend.....make short entry at second Yellow Arrow and make sure to lock some profit on first 4-hr TF entry........................and that is basically it.....................


Quoting streetable
I know this may have already been covered and I know there are probably multiple people that can answer it, but I've been looking through all the posts and I haven't been able to find the answer. What is the "rule" for entering the same directional trade multiple times at different prices. How do I know when to enter another trade after there has been price movement already in the direction I wanted or should I say the trend suggested?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpcad (daily).gif Size: 20 KB
Click to Enlarge Name: gbpcad (4-hr).gif Size: 23 KB
Click to Enlarge Name: gbpcad (1-hr).gif Size: 22 KB
  • #11,091
  • Edited 11:45am Jun 12, 2010 11:44am | Edited 11:45am
Thanks Danku

So you entered originally on the break through support and then you entered again at a break through the next round number level. So would you look to enter again if it pushes down to your next round number and of course adjusting stops along the way to lock in pips? If so what area ideally would you be looking at to enter again. One of my probs is I still think the trend will end and I talk myself out of re-entry and then I kick myself when it keeps moving of course with the trend. So I'm trying to get better at trusting the trend and system.
  • #11,092
  • Jun 13, 2010 2:18am Jun 13, 2010 2:18am
I do not set myself to look for entry at a certain RN because there might be NO CONFLUENCE on that RN...................I wait for Trend confirmation, RN, Support Break and most important PA..........Confluence of 4 things.....also a retracement will always occur so it is important to have patience and get the confluence.................

Unless GBPCAD makes another retracement i would not be interested in shorting it again as i would place my target at 1.4855, do you see why? Look at the chart.........

As regards the trend changing...........it would take quite abit of Fundamentals to change this particular trend...........just out off my litte trading experience....................and reading around.....i would not bet major up moves on GBP...............just like the EURO, GBP is also in a mess, look at what BP has done.......am not sure BP will be able to meet the damages and maybe the UK Government might come in to bail them out with DanUK's Tax and also the UK Economy is also doing not to well.......Canada on the other hand has Oil................place your vote...............cheers...........

Then, hoping you are football fan...............u guyz should have beaten England.....u had the game in the last 20 Minutes................

Quoting streetable
Thanks Danku

So you entered originally on the break through support and then you entered again at a break through the next round number level. So would you look to enter again if it pushes down to your next round number and of course adjusting stops along the way to lock in pips?...
  • #11,093
  • Jun 15, 2010 12:22am Jun 15, 2010 12:22am
First off, it killed me to see the ball go off the bar. So yah we almost squeeked it out.

Anyway, yah I see the prior resistance that you would be targeting, I missed it the first time, but if your PA was to come down fast through it wouldn't you look at that as a reason to enter again thinking the trend was continuing down or wait for a retracement and then look to re-enter?

I do agree about the fundamentals though, I was only referring to the technical side of that chart and basically using it as a example. I do think any strong upward trend for EU and GBP is going to take some mess sorting first.

Thanks for all insight....and as Danku said we would love to hear others re enter "rules"
  • #11,094
  • Jun 18, 2010 12:24pm Jun 18, 2010 12:24pm
An interesting chart, I'm bearish and set up accordingly. Anyone else trading eurusd at the moment?
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 18 06 10.gif Size: 32 KB
Position trader - Anything intraweek is just noise...
  • #11,095
  • Jun 21, 2010 5:22am Jun 21, 2010 5:22am
Hi Folks,

Thought I would post this little article that was posted on FF 19th June.





Regards,

BabeFX.
Attached File(s)
File Type: doc Professional Traders Don.doc   24 KB | 628 downloads
  • #11,096
  • Jun 21, 2010 12:05pm Jun 21, 2010 12:05pm
Quoting garrye
he has been trying to trade it but has messed up all the way down from 15100. and in losses,thats why he and all his usernames he uses to plug his signal service are all silent.
Most trend traders have had a tough time of it lately. I'm down a few hundred pips this month but I suspect I will more that make that back once the Euro resumes it's long term trend down. That breakout appears to be happening right now but too soon to tell. Will have a better idea tomorrow.
  • #11,097
  • Jun 21, 2010 1:50pm Jun 21, 2010 1:50pm
Quoting EasySt
Most trend traders have had a tough time of it lately. I'm down a few hundred pips this month but I suspect I will more that make that back once the Euro resumes it's long term trend down. That breakout appears to be happening right now but too soon to tell. Will have a better idea tomorrow.
I'm thinking 1.24 was the level to be in. The break looks good. Have you any thoughts on where it will go? 1.19 and 1.18 are both strong and a break of those would be great but just maybe all the negative news is already factored in? Sideways for the summer is a distinct possibility.
Position trader - Anything intraweek is just noise...
  • #11,098
  • Jun 21, 2010 5:19pm Jun 21, 2010 5:19pm
Quoting Danku
I do not set myself to look for entry at a certain RN because there might be NO CONFLUENCE on that RN...................I wait for Trend confirmation, RN, Support Break and most important PA..........Confluence of 4 things.....also a retracement will always occur so it is important to have patience and get the confluence.................
I like this post. I like to plot area's on my charts with fibs and SR where I will be looking for an entry. Wait for price to get there, and see if it gives a signal.

Doesn't work all the time, but that way I have a plan and know what to do (or not do) as price paints its picture.
  • #11,099
  • Jun 22, 2010 12:17am Jun 22, 2010 12:17am
Quoting BabeFX
Hi Folks,

Thought I would post this little article that was posted on FF 19th June.





Regards,

BabeFX.

nice subtle post and very appropriate
  • #11,100
  • Jun 22, 2010 3:41am Jun 22, 2010 3:41am
Quoting zorroz
nice subtle post and very appropriate
Really? What are you doing when you use fib extensions, channel lines, horizontal s/r, pivot points or any other method of determining a target? Ok so beyond targets isn't worth forecasting but the whole premise of the article is silly in my view, it's a point not worth making and the guy is more interested in selling his book than actually helping anyone. A free one on one session, give me a break!
Position trader - Anything intraweek is just noise...
7 traders viewing now