There is some confusion over the time, my fault, I live in the UK and London opens at 8 in the morning, you are going to have to convert that to your local time, there are some good websites that can do that for you. UK uses GMT normally, except in ...

Catching the morning train

Hi guys, The chart I posted was using FXDD, not sure if the time is in GMT or not. But the opening time should be 08:00 GMT i.e. opening of London, this might change depending on summer time etc. I will remove the chart and put a new one up based on ...

Catching the morning train

Yes I should have been more clear about that, the start and end times 08:00 GMT - First 30 min bar opens 08:30 GMT - First 30 min bar closes = this is our reference bar. 16:00 GMT - If no trades we quit. 17:00 GMT - Close any trades. This is the ...

Catching the morning train

Hi FX, I agree with you on Jackos system, reading the first few pages and understanding it then following it, will cut years of bad trading out of your life. I dont recall him making any calls recently though.

Jacko's Forex House of Pleasure and Pain

The system is based on price only no other indicators. Its so simple the hard part is sticking to it, if you can do that and compound your profits then you can increase your account . All you need is to catch the big daily move and this system will ...

Catching the morning train

This method will only work if you stick to the rules, it will allow you to have a tight stop and catch any big moves. An example. UPDATED: fixed per new chart. $10,000 account. Risk 5% = $500. Stop loss on todays trade was 34 pips = @$15 per pip. ...

Catching the morning train

Hi okehiedon, You just close the trade at 5pm GMT (if there was one that day), so its a time based exit, and its important you stick to that.

Catching the morning train

Hi Aelimian, Yes its based on GMT. I would only double once so the second stop would be just 1 lot rather than 2 (or whatever size you use). Mark

Catching the morning train

Great spot Dan, I think weekly/Daily HLine S/R should be part of the chartine process along with the fibs and trend lines. With these charted you have a good map of price. I, hoping a retrace to 50 Fib or at least 1.4000-4050 then next bit S/R. The ...

Jacko's Forex House of Pleasure and Pain

Doubt it now, its Friday afternoon, it will slowly come to a stands still over the next few hours with people closing out for profit and probably pushing the price down a bit.

Jacko's Forex House of Pleasure and Pain

Hi Dracula, If you click on the paperclip on the upper right corner of the thread box, it will show a list of attatchments posted to this thread. There is a trailing stop EA if you look through them, you might have to go back a page or two (on the ...

Jacko's Forex House of Pleasure and Pain

Dont worry at least its going up, which means the trend is still up, there will no doubt be a retracement next week, that's when we get in!. Wish I got in at 1.4800 now though.

Jacko's Forex House of Pleasure and Pain

I don't follow, what resistance? I see it going to 1.4500 in the long term, if the trend holds. Update: I see what you mean, you mean support? Good point although I am using trend line as support so it would have to break the 4 hour to get back ...

Jacko's Forex House of Pleasure and Pain

Yep, I think there's a chance it will come and retest 1.4050, and if it holds that might be an entry point. I would want to see a bullish candlestick pattern on 1 or 4 hour, or at least showing that it was holding.

Jacko's Forex House of Pleasure and Pain

Yeah maybe, no trades for me this week, will do some analysis on Sunday to look for next entry point, but looking like 1.3964 for 50 fib, however I think it will struggle to get back there so maybe 1.4050.

Jacko's Forex House of Pleasure and Pain

If it closes above 1.4 then I would say its broken other wise we are going back to 1.3800 before it really heads for 1.4500

EURUSD

It's taking another pop at 1.4050, if it breaks this it will probably shoot up, but I will wait till it comes back and uses 1.4050 as support before entering. Lets hope this is the start of a nice steady up trend to 1.6000, with nice dips to 50, all ...

Jacko's Forex House of Pleasure and Pain

I only use one fib on the 4hr, on the most recent swing, then if it breaks 76.4 I stretch it to cover the next most recent.

Jacko's Forex House of Pleasure and Pain

Good stuff, I know jacko only likes the 50 fib, but ive read the 61.8 and 76.4 fib are good to look for bounces. On the mose recent swing you could have good a good entry from the 76.4. See this link from BRV. I am still waiting to go long at 1.3750 ...

Jacko's Forex House of Pleasure and Pain