Just so I don't appear to be a target bigot I like the enter on 4 hour, exit on daily idea. I'd extend it by saying "wait for a daily support/resistance or daily trend then enter on 4 hour" before exiting on daily. In that case I'd see the 4 hour ...

Letting profits run

I have a buy the retrace, take the profit style that gives 70% plus winning trades and rarely has a losing day (5-10 traders per day). Target is bigger than Stop and I rarely tighten the stop as I don't like the frequency with which a BE stop will ...

Letting profits run

But the market is a collection of loosely and tightly interacting human minds. They have imperfect information (most). They are irrational (spot the ones who aren't). They don't believe in a trend early and then they keep believing it it too long. ...

Much of What You Know About 4X is Wrong!

It is worth noting that, just because traders profess to have a belief, it doesn't mean that they are able to trade it. I have known a large number of traders to fail over the last few years and a very few to succeed. I've never know someone to fail ...

Much of What You Know About 4X is Wrong!

Yes, the trend can be your friend. — Trends occur on all time frames. I can find trends on 5 minute charts, 60 minute charts, or daily or weekly charts. I don't care. I can find them. Maybe you can't. But that doesn't mean that others can't. ...

Much of What You Know About 4X is Wrong!

The mathematical "proof" at the beginning is interesting in two senses. 1. It is correct that if you take smaller trades your wins are not covering your commission (pips) and slippage as easily. 2. Since that post the commissions in forex have ...

Mathematical reasons why MOST DayTraders & scalpers fail?

I've traded full time since just before 911. Yes. Although I had a period in September where the dramatic increase in volatility in Asia dropped me into the red and I had to revise slightly to adapt. I spend a bit of time in the morning and then ...

How many full time traders here and other questions?

As someone who's trading their own discretionary strategy (on Hang Seng) successfully I would like to say: 1. Jacko, yes, please post before or after ... its the thinking that will help me or a newbie to learn. 2. Anyone who doubts Jacko's veracity ...

Jacko's Forex House of Pleasure and Pain

Yes, TraderKGB is right. It was long and felt a little risky at the time with everyone talking about changing to shorts at prices somewhat above my buy order. But 50% is 50% and round number and channels all add to probabilities.

Jacko's Forex House of Pleasure and Pain

1.3375 entry url stopped out at 1.3497 (trailing 50pts or 2 below round numbers if close).

Jacko's Forex House of Pleasure and Pain

Long 1.3375, trying for better than the round number and 50% of the January lows. Still within the wider Dec channel. 50pt stop. Catch a falling knife

Jacko's Forex House of Pleasure and Pain

Correct me if I'm wrong but earlier in the thread he has said that he looks at the fundamentals but he always comes back to what the chart is telling him. So the chart (price) is primary.

Jacko's Forex House of Pleasure and Pain

Its maybe my first post on this board (will find out in a moment) and I've been reading this thread for the last two days. I like it Jacko ... it looks like a nice addition to my normally frenetic HSI trading (8 trades a day averaging under 6 ...

Jacko's Forex House of Pleasure and Pain