I've closed my position and now I'm waiting for a dip. Maybe I should just let the trade to play itself out, but I'm happy with the pips I gained. 1.5530 would be another nice entry point.

Jacko's Forex House of Pleasure and Pain

Always decide for your self what do to, no matter what. I went long too, even if I've read a few bearish posts on the EUR/USD thread. Anyway, my only true guidance remains Jacko himself. But by saying that, there are some other good contributors to ...

Jacko's Forex House of Pleasure and Pain

Pavlov, you may want to read this. Btw, I've missed the .5350... So I bought at .5380.

Jacko's Forex House of Pleasure and Pain

Ups, didn't notice that. Thank you!

EURUSD

Hi! It's not so "noir" as it may seem. Forex is the best business in the world! It's not taxed, you get many, many good opportunities, a lot of trending pairs to be found, etc. I've never traded stocks, only invested for the long term (1+ year). ...

Forex, not what it used to be.

Hi! What's the Existing Home Sales going to mean for EUR/USD? If it's higher than expected, will the USD appreciate, if it's lower than expected, will USD depreciate? I'm pretty new to fundamentals - please bare with me.

EURUSD

Yeah, me too. Anyway, I hope that the .5350 will be penetrated first and that I can buy it on the way up. Anyway, if the .5350 and .5300 won't hold, I'll rethink buying again at .5200 or .5150 (50% fib on the daily chart). I've attached a 4h chart ...

Jacko's Forex House of Pleasure and Pain

Hello Friends, I'm enjoying my day by reading Sun Tzu's The Art of War (for improving my chess playing abilities... ) and here are some (to trading "related") interesting passages I'd like to share with you: With this compare Col. Henderson: "The ...

Jacko's Forex House of Pleasure and Pain

Hi zoopy, While I can see the 50% fib you are talking about, I believe the 1.5300 level will show some support too. That's because: 1) It's a nice round number 2) It already acted as a resistance and support 3) A trendline (which started in early ...

zoopy's trading journal

Btw, I'm a buyer @ 1.5300. This level was at first a resistance point and later it became a support. The supporting trendline would also add to confidence. Maybe I'm hoping for too big of a dip, but this is the level I'd be most comfortable to buy. ...

Jacko's Forex House of Pleasure and Pain

My stops are automatically trailed pip by pip. I believe "dialist" wrote a nice post here about how important every single pip is. Jacko doesn't trust computers so he adjusts his stops every couple of hours or so.

Jacko's Forex House of Pleasure and Pain

Seems like a nice trade. The 1.5700 was roughly also a 50% fib retracement (1.5717) + it never went much lover from the previous upside gap. A very nice trade indeed.

Jacko's Forex House of Pleasure and Pain

Every single method on this planet has a few setbacks, you said nothing new. But while those setbacks are less frequent than winnings and while profits are larger than losses, you've got a winning strategy. Or in Jacko's words: different strokes for ...

Jacko's Forex House of Pleasure and Pain

OK, this was just confirmed on the evening news and now it is also on-line (this is a shorter version than the TV version). EU urges banks to stabilise markets And what Jacko has been saying has happened: Weak dollar costs U.S. economy its world No. ...

Jacko's Forex House of Pleasure and Pain

that is what Jacko advised us too + as he says: I keep an eye on the fundamentals.... but I trade off the charts.

Jacko's Forex House of Pleasure and Pain

EUR getting too strong! — Hi, I haven't yet noticed this news on-line, but on my way home, I've listened to the radio and it was said, that the EU politicians and economists will hold "I-don't-know-what-kind" of extraordinary meeting, because ...

Jacko's Forex House of Pleasure and Pain

Pavlov, this might be an interesting read: "Dollar hits new low against euro but draws support from Fed action."

Jacko's Forex House of Pleasure and Pain

Thanks for your reply. I've finally realized that too. And EFX will always let you trade by 1000 base currency. If my money management rules tell me to buy 2,4 lots, I buy 2,4 lots. I don't have to round down to 2 lots or round up to 3 lots. I love ...

Micro, Mini and Standard Accounts?

I will always risk 2% per trade. But different accounts would give me different lot sizes. I'm not sure how to calculate my lot size for EFX's 1 lot = 10.000 units, because other brokers have something like this: Micro Account: 1 lot = 1000 units ...

Micro, Mini and Standard Accounts?

Thank you, parlenk. My starting balance will be $4000. If I risk 3% ($120) and I have a 50 pip stop loss, I have to buy 2,4 lots of EUR/USD - is that right? (considering that EFX's 1 lot represents 10.000 units and EUR/USD 1 pip value is $0,10) This ...

Micro, Mini and Standard Accounts?