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- madpommie replied Sep 10, 2009
I think coming back to the line for a retest is 50/50. Once back for the retest the line has a 75% chance of holding. The 50% fib is around 1.4400, just above 1.4380 so this will be a very strong area IMHO Either way we are looking for a significant ...
Jacko's Forex House of Pleasure and Pain
- madpommie replied Sep 10, 2009
Theres a reason for that.... During last months NFP release I wanted to trade. Jacko was out with Mrs J so I read the blog and could see clear as day what he would do if he wasn't out. I put my trade on with a knowing smile and lost 100 pips. Now ...
Jacko's Forex House of Pleasure and Pain
- madpommie replied Sep 9, 2009
Totally agree but we are looking to trade the highest probability. Whilst this is the highest probability Wayne more often than not watches prices as it approaches his entry rather than just blindly placing an order.
Jacko's Forex House of Pleasure and Pain
- madpommie replied Sep 9, 2009
Hi LasVahGoose This is what Wayne teaches.... If you join the highs to get the upper trend line on the 300 period 4H Chart. 1.4446 on 5th August 1.4406 on 27th August then the upper trend line was broken yesterday at about 1.4380, my chart says ...
Jacko's Forex House of Pleasure and Pain
- madpommie replied Sep 9, 2009
Now that resistance has turned support, I believe it is about a 75% chance that it will bounce of and continue upwards. This has the highest probability so would be the next trade. More risky but you could also counter trend trade it back down to ...
Jacko's Forex House of Pleasure and Pain
- madpommie replied Sep 8, 2009
If you join the highs to get the upper trend line on the 300 period 4H Chart 1.4446 on 5th August 1.4406 on 27th August then the upper trend line was broken today at about 1.4380, my chart says 1.4387. As resistance becomes support this should be ...
Jacko's Forex House of Pleasure and Pain
- madpommie replied Sep 8, 2009
You can see correlations here url
Jacko's Forex House of Pleasure and Pain
- madpommie replied Sep 8, 2009
Hi Dan Great to talk to positive people like yourself and I think in some ways you understanding is ahead of mine due to me not listening to Wayne for 9 months. I think we will watch price action as it comes back down to the broken resistance and if ...
Jacko's Forex House of Pleasure and Pain
- madpommie replied Sep 8, 2009
Hi Dan I've emailed Wayne for future reference. I think that you are right and we would now look for the break to be retested, though I'm sure we've gone long on a prior retest. Are you in Waynes blog??
Jacko's Forex House of Pleasure and Pain
- madpommie replied Sep 8, 2009
Hi Dan It was Waynes trade with entry short of upper trend line. Market spiked this morning on news so now waiting for price to go 50 pips above stop to reenter where we were stopped out. Not sure what I'm allowed to put where Waynes trades are ...
Jacko's Forex House of Pleasure and Pain
- madpommie replied Sep 8, 2009
Boo Hoo.... Me Too.... AH trade here we come......... each loss is one step closer to a win!!!
Jacko's Forex House of Pleasure and Pain
- madpommie replied Sep 8, 2009
I've been with him a year..... he's the real deal and $700 for a mentor with his experience is unbelievable good value. I've paid 7 times that on a weekend course that cuts you lose as soon as you walk out the building. What experiences do you base ...
Jacko's Forex House of Pleasure and Pain
- madpommie replied Sep 7, 2009
Hi David Here's a link to some forex correlation tables. url I've started trading really small amounts with AUDUSD and GBPUSD, started last week and made some nice pips but not as confident about trading the pullbacks as I am the trendline ...
Jacko's Forex House of Pleasure and Pain
- madpommie replied Sep 7, 2009
Hi Coolshades I only keep enough in my account for 3 losing trades of 100 pips so right now about $3000. My liquidish assets are about $80000 so my risk is about 1.25% per trade, I'd like to get that up to $40 per point which I estimate will be ...
Jacko's Forex House of Pleasure and Pain
- madpommie replied Sep 7, 2009
Hi Bill I spent 9 months trying to reason that I was better than Wayne. Then I read trading in the zone by Mark Douglas and saw the light. have you been to Thailand yet and have you read it? I went back and looked at Jackos results and saw the ...
Jacko's Forex House of Pleasure and Pain
- madpommie replied Sep 7, 2009
Hi Speedtrip Been with Jacko a year now and really enjoying it and making some nice money too. Are you new to forex or have you tried other methods?? Cheers Dave
Jacko's Forex House of Pleasure and Pain
- madpommie replied Sep 4, 2009
Whilst Wayne has a very simple set of rules he also watches prices as it moves towards his target are before entering the trade. With the 50 point move past his stop for his AH trade you need to watch price as you need to make sure it had finished ...
Jacko's Forex House of Pleasure and Pain
- madpommie replied Sep 4, 2009
Hi NFP last month saw EURUSD go up 50 pips before falling over 200. Big stops indeed. As to the direction 50/50. This may or may not show correlation to the news event so again 50/50. I traded the NFP last month whist Jacko was out on the town with ...
Jacko's Forex House of Pleasure and Pain
- madpommie replied Sep 2, 2009
Hi Dan It does indeed make sense. I think my problem is before we were range bound I was trying to prove that I knew better than Wayne until I'd read trading in the zone so I've only been paying attention for the last 3 months and missed what you ...
Jacko's Forex House of Pleasure and Pain
- madpommie replied Sep 2, 2009
Hi Dan You may well be right and most things are open to interpretation so we are probably both right and both wrong all at the same time. The point I was trying to make on the current posting was not my own but from Jacko's post on 27th August ...
Jacko's Forex House of Pleasure and Pain