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  #53707  
Old Feb 2, 2010 7:54pm
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Vivere!
 
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Originally Posted by Treefingers View Post
Do any of your guys here use the Jacko anti-hedge strategy when you get stopped out?
What a good question. Jacko, as far as I know trades just the EU. I am not aware of anyone who does that here, but ...

There are a few things to consider - first, that approach works exceedingly well in a trend. So price pulls back, and you look for PA to get in again. Your entry fails - say it ain't so! And price continues in a retrace, so according to the rules, I believe that price must retreat 100 pips (the EU) for you to stand up your trade again where it last fell. The idea is to let the trend once again sweep up your position and carry you along. Ask in that thread for clear details.

This approach has a tendency to suck wind in a range - which is the majority of time, but I am sure some careful thought would enable you to adapt parts of this thing to many market conditions.

If you wish to employ such a method, please demo for at least 3 months in a profitable fashion (see post one) Also, pay attention to PA, I've seen plenty of traders trying out Jacko's stuff get creamed when trading into blatant PPZ's and even more blatant PA at a PPZ pointing in the other direction.

Jacko likes to say 'park your brain at the door' - and I agree, but keep your eyes open!

Good luck with it - I've wondered myself, but have not done the heavy lifting to make it go - or not. Elongated trends can be very enriching, and if you learn the stuff in this thread, you'll be successful even if a trend never appears again...

When you come right down to it, there are a number of ways to make money in any market. But bedrock across all of them is a clear and working understanding of Price Action. Get that, and you win.

mike
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  #53712  
Old Feb 2, 2010 8:19pm
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Originally Posted by Treefingers View Post
Thanks Storage, its not something I am looking at using any time soon as I have enough to get on with at this stage. I was just interested as like many newcomers we read this thread & Jacko's.

Also I would just like to confirm what many have said about reading Trading in the Zone, I have just about finished reading it & its a fantastic book not just in regards to trading but to psychology in general.
Zone is a very good book.

Read it for sure. Then read it again. I found that rereading it (after a number of months) made the light go on. Nothing like a little experience under your belt to light the lamp of recognition!
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  #53719  
Old Feb 2, 2010 9:22pm
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Originally Posted by FxChris View Post
Just wanted to drop a line to say Hello to the crazy amount of people that have participated in this forum. Ive been looking through the pages of FF for a while now and for some reason this attracted my attention esp. James sincerity and commitment to help. Who is this guy?! Some sort of modern day Forex Jesus?

-Chris-
LOLOLOLOLOLOL - Dude - you are welcome here ANYTIME !!!




Jim is not a Forex Jesus, but I did see him heal several traders of over trading, too much risk, indicators and of course he has healed everyone of liberalism....

Jim is love. He turns water in Beer and once he raised a dead account.
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  #53861  
Old Feb 3, 2010 7:23pm
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Originally Posted by benji533 View Post
especially for the large account holders.
They can actually wait for the A++ setups, take profit on the very first trouble area, or move stop to BE and get a runner once in a time.
Waiting to have a large account to do what you lay out may be the kiss of death. Small accounts MUST take an A+ approach, or it will never grow.
Quote:
I would say, 95%+ of the time, when an A++ bar breaks, it would reach, at least, it's first trouble area.

You know it! The best setups tend to 'pop'.

Quote:
Going months with no loses, no stress, no low TFs trades, and still making a living.
That is the goal, but the hardest thing is to remember all the work, sweat toil and thorns you must go through getting to the place where you can finally start to grow an account. Then once the account starts to grow, can you keep it growing. Sounds simple, right?

Quote:
Correct me if I'm wrong, but that's what James the man does.
I am pretty sure that after 4 years of association with him, I can say with a lot of confidence I do not know how he trades day in and day out. I know what he teaches and why, and I share it with others as well. I also know a little on how he maanges a trade once in, but certainly not all of the story. But I have also developed a style of my own that suits me well, based on what I learned here. And no one really knows what I do in full. It is not a secret, but I do know my telling every detail would likely slow you down. Everyone develops his own relationship with the market. Time and experience get you there (maybe).

Quote:
After I finish with the army, I would work hard to be a large account holder. I will treat this thing as my business.
Now I am practicing. Every time I think I 'm onto something, I change my mind and go for another thing. But I guess this is my time to make mistakes and grow slowly as a trader, treating this curve as a marathon while knowing that at the end I will be able to live ,my life the I wish.
What you are doing is a perfectly legitimate thing to do. We have to turn over a lot of rocks to find the nuggets of gold.

Cheers to you!
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  #53866  
Old Feb 3, 2010 10:20pm
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Originally Posted by jarroo View Post
I got many questions on how I managed the BEOB Daily Cad. I thought I would share them here.

I closed my 1st half for 27 pips and my 2nd half was closed at break even.
I do think that this is a high quality setup, is it an A+ setup? Probable not due to the traffic and I would have liked to see the swing High higher , like at the 1.1000.

I could have done the free trade approach, meaning the 2nd half stop loss placement would be -27 pips for a net zero result, but I did not. I wanted Price to prove that this setup had the momentum to get through...
I like this Jim.

I saw that trade, and skipped it. I like a little more room to get to BE than what that trade afforded, but that is me and my comfort zone. It works for me.

Everyone has to figure out what works for them individually. And when you do - watch out! You have a great shot at making it.
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  #53868  
Old Feb 3, 2010 10:46pm
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Originally Posted by jarroo View Post
Thanks SP.

One really has to figure out what their style is and run with it. It's funny , one style can grow to other styles over time. But for me its managing risk to point of comfort, which is zero risk. lol

I've been enjoying your interview with Fiji. Great stuff, brother.

I'm sure your asking yourself . . . . is this how Jack Schwager got started. lol

Hope there is more in the future.


Jim

I have found that zero risk suits me real well too. It is all in how you do it though! I only get a few (3 to 5) positive winners and bunch of BE's a month. Works like buttah!

I'll be posting up a link to folks here soon about the recorded interviews. Psychology stuff, and they are really powerful. That Fiji knows his stuff.

There are things in there that will rock_your_world.
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