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- dwildes replied Aug 25, 2009
Wishing us a good trade!
Jacko's Forex House of Pleasure and PainYeah, if that 1.4300 will prove as resistance - we're golden.
- dwildes replied Aug 25, 2009
Fair enough, and I agree with you there. Personally, I was short earlier in the day around 1.4350. I closed half of my position for around 40pips of profit, and I'm letting the rest go for it (stop is at B/E). However, if I see buyers start to ...
Jacko's Forex House of Pleasure and Pain
- dwildes replied Aug 25, 2009
Thanks Jim! Appreciate that! You just have a big heart and lots and lots of patience - especially with recent events. Hopefully those scars are healing. It takes a lot of resilience to do what you do, and a hundred times more to do it on a public ...
Jacko's Forex House of Pleasure and Pain
- dwildes replied Aug 25, 2009
Can you live with waking up to price hitting your stop loss? Will you be able to handle seeing price drop another 100+ pips if you close it right now to lock in around 30pips? That should lead you to what you should do - because ultimately you will ...
Jacko's Forex House of Pleasure and Pain
- dwildes replied Aug 25, 2009
Hey Bud! Long time
Jacko's Forex House of Pleasure and PainYeah, I totally agree with you. You've lead the horse to the water, but can't make it drink though.
- dwildes replied Aug 25, 2009
Thanks Jacko! — Hey Wayne, Nice to see you pop in your forum! Just wanted to say thanks for a great year so far. Congrats on the fund performance for the past 12 months as well! Not much has changed here on the forum here as you probably ...
Jacko's Forex House of Pleasure and Pain
- dwildes replied Aug 21, 2009
I know that - what's your point?
Jacko's Forex House of Pleasure and Pain
- dwildes replied Aug 21, 2009
You gotta take what you read here with a grain of salt. Not many turtles will tell the full picture of Jacko's thought process, or his current trades out of respect (myself included). To answer that question though - he has been both long & short ...
Jacko's Forex House of Pleasure and Pain
- dwildes replied Aug 21, 2009
I think I'm starting to see what you are getting at.
Jacko's Forex House of Pleasure and PainYou are right about jumping into the trade early, and this was the point I was trying to make earlier in the week about getting in a trade at a bad level. It throws the AH off, gets you stopped ...
- dwildes replied Aug 21, 2009
I have no idea why you'd want to sell at 1.4250 if you are looking to sell at 1.4350?
Jacko's Forex House of Pleasure and Pain
- dwildes replied Aug 21, 2009
I think the answer is simple here - if you believe your best entry is 1.4350, you wait for it to reach 1.4350. If you miss the trade, you miss it - it happens. It's happened to me several times as a matter of fact where price only needed to go 20-30 ...
Jacko's Forex House of Pleasure and Pain
- dwildes replied Aug 21, 2009
Remember, this is the 'weekly' unless you only want to take 1 or 2 trades a year, you'll need to dial in your analysis some. Before you were just looking at around 2-3 weeks, now we're trying to look at 8+ years. I'd agree there. That's why it's ...
Jacko's Forex House of Pleasure and Pain
- dwildes replied Aug 20, 2009
The only problem is price has only recently moved back up to the 50% on the weekly. Most of the time, price will come back to the 50% (maybe a little past) and then continue it's trend. Since price is now back testing it, and with talk of China ...
Jacko's Forex House of Pleasure and Pain
- dwildes replied Aug 20, 2009
Looking better, but I suggest looking back even more to get a bird's eye view. Look at my chart from post #8423 That should help explain why we've been congested for the past several weeks. However, it should show a little of the danger of going ...
Jacko's Forex House of Pleasure and Pain
- dwildes replied Aug 20, 2009
Close - but not quite. Start with the Weekly and move down to the 4 hour. If you do that, you should see your strategy change slightly, but also give you a better target/safer price. You are too close to the price action right now, check the weekly ...
Jacko's Forex House of Pleasure and Pain
- dwildes replied Aug 19, 2009
The problem from my perspective is it appears you are defending yourself & the actions you took rather than comparing what you done with the rules of the method. Tell you what - let's start over with a 'by the book' trade and analyze that one. ...
Jacko's Forex House of Pleasure and Pain
- dwildes replied Aug 19, 2009
I disagree, even from the post this morning Jacko talks about 50% fibs and even multiple 50% fib targets. The main difference is the 4 Hour chart and changing to 100 stop from 50. He has still been using AH trades, waiting for pullbacks & looking ...
Jacko's Forex House of Pleasure and Pain
- dwildes replied Aug 19, 2009
You are clearly missing the point, and I don't understand why you want to argue this as it really is spelled out pretty clear. Check out Post #4: 1. buy/ sell ONLY in the direction of the major trend and 2. buy/sell on dips.(Use support lines to ...
Jacko's Forex House of Pleasure and Pain
- dwildes replied Aug 19, 2009
Joe T, Your problem is you didn't pick a good entry. IIRC, you initially got in at 1.432x. If you look at the charts - where on the chart was that a 50% pullback? At the time of your entry, a 50% would have been around 1.423x. Look for bargains. ...
Jacko's Forex House of Pleasure and Pain