Yeah - he's a pretty good guy. I'm a big fan of his thought process as well.

Jacko's Forex House of Pleasure and Pain

Yeah - ranging markets can definitely whipsaw you out, and as a trend trader - you'll just spin your wheels. However, if you trade at key levels of support and resistance - you 'love' ranging markets.

Jacko's Forex House of Pleasure and Pain

Thanks! Honestly - this is my weakest point as well. If you check my past posts on this thread the past year, you'll notice I'm not the biggest fan of the 100 pip TSL. I'd rather scale out or close all positions at the next level of support, which ...

Jacko's Forex House of Pleasure and Pain

Was +75 in profit. Stop is now at B/E.

Jacko's Forex House of Pleasure and Pain

Good! — Nice journal! Keep up the good work!

(binned per thread starter's request) For What It's Worth

Thanks

Jacko's Forex House of Pleasure and Pain

Short — Just sold.

Jacko's Forex House of Pleasure and Pain

The reason you are probably doubting yourself is due to your entry. You entered on upward momentum with not much resistance at 1.3400. True, 1.3400 'is' a resistance area, but not the strongest. Pull up a H4 chart and look at where most of the bar ...

Jacko's Forex House of Pleasure and Pain

Nice Trade!

Jacko's Forex House of Pleasure and Pain

A short from false upper TL break earlier was a good trade - exactly what I was looking for, with maybe a slightly lower close under the TL for added confidence. I closed at the near median on the support zone around 1.3520. Personally, I need a ...

Extracted Thread (per thread starter's request)

Excellent! Now another one for you. When does a channel become broken or a flag void? I've always decided it when we have a pierce and close outside of the TL. Followed by a test of the TL, which is rejected and price goes away from the TL. The ...

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Thanks for the clarification! So I suppose if we use Bemac's definition - we are still technically in a bullish flag on the daily, but in a channel on the H4? In this case where the longer TFs hold more weight, the H4 is respecting the flag on the ...

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I think sometimes you are too smart for you're own good. I don't know what belies means, but it would much be appreciated if you threw me a clue. As far as agreement - I suppose? I'm really just looking for constructive criticism and ...

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Flag or Channel — I'm looking at shorts at the top (pierce through the top and close under the TL) and longs at the bottom of the TL (pierce through the bottom and close above TL) BTW - would you classify this a flag or a channel?

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Congrats Long traders! I was honestly looking for shorts and done pretty well this morning. Had one more short that was playing that got zapped on this wild spike up. I'm very interested to hear what Jacko has to say about the Europe vs. USA banking ...

Jacko's Forex House of Pleasure and Pain

busted *haha*

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No worries - but also be careful, it's not pyramiding either. You must think more 'fluid' and not so static if you truly want to understand it. If you don't have that mindset - just don't worry about it and move on as it's very important to pick ...

Jacko's Forex House of Pleasure and Pain

That is assuming that each entry is considered a trade, which is clearly not the case when using a scaling tactic.

Jacko's Forex House of Pleasure and Pain

Yeah man, if it finds some support up there, he'll be a happy man. Personally I have to close my longs, or at least half of them. That would be too much profit to give back if it doesn't hold.

EURUSD

Very well said - I totally agree with you. If at the end of the trade you have more than when you started - you are succeeding! It's that simple. If you get caught up trying to squeeze every pip out of move, you're going to get caught in the ...

Jacko's Forex House of Pleasure and Pain