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Hi Jordan,

c) signal crosses 50

Dear Jordan,

Yesterday that long trade I started two days ago was still alive and on the chat Tom asked me on what signals I take my trading decisions. I avoided answering as I realized that the wrong impression could be created specially to either a newcomer to the group or a new comer to trading. Thus I would like to state the following and you use them or not as you see fit.

1. I am here to follow your plan and not my own plan, therefore I trade according to JCL methods and signals.
2. I stick to the trade, and I do not take profit or exit prematurely, except rare, very rare situations, provided of course I am there at the time. Reason: I do not know any better!
3. After I have sectioned out my trading funds according to JCL group money management, I have a totally separate account that does not amount to more than 10% of my total, which from time to time I trade through this.
4. In this case, I always have a strategy, a plan including stops and profit taking to which I stick. This depends on my own trading style and I do not recommend anyone to copy, on the contrary I advise them to create their own style.
5. As I cannot be in front of a PC often, the above style is of limited use, thus I repeat I follow the group.

[22:15:38] jordan: these people are crazy. to think that the economy will recover by late next year is just not realistic. people will be spending less and less and saving more and more. we have borrowed all of this money but not a cent of it has gone to improving our infrastructure or creating manufactured good we could sell.
[22:22:01] jordan: we are going to mirror japans economy of the last decade of low interest rates, low to no growth or decline and in and out of recession over and over again (if we are lucky). nothing has changed expect we have added more and more liquidity though these bailouts (700b) and increased military spending (540b)
[23:08:19] bcho018: well hopefully China will float their Yuan
[23:11:17] jordan: what will happen if they do? their exports will cost more?
[23:13:09] bcho018: Just thought it will be an interesting currency to trade.
[23:14:25] jordan: ahhhh! this is true, you can w/ oanda but no liquid enough right now
[23:14:29] bcho018: China seem to be more assertive now telling US not to complain about them keeping their currency the way it is
[23:15:14] jordan: because they own so much of the US debt they can tell what the US to do now, since the US needs to them to buy more debt in the future
[23:17:29] bcho018: that's really sad
[23:29:00] dug: what country isn't in debt?
[23:29:13] dug: everyone owes other ppl money, it's just a big cycle
[23:29:48] jordan: china doesn't owe anyone money, they have a 2 trillion surplus
[23:30:05] bcho018: So they answer to no one
[23:30:31] jordan: japan isn't in debt, they own a huge chunk of ours. All the countries in the middle east have a huge surplus as does Russia
[23:30:58] jordan: it is the US, UK, some of Europe and AUS who have debt
[23:31:33] bcho018: all because of a flawed monetary system

[23:34:00] bcho018: I don't think China is interested in the fall of the west, I can understand Chinese and I heard from Jia Bao that China can only prosper if the world proper, and they want to lead the world into prosperity
[23:34:15] bcho018: I don't know if its sweet talk but yeah I think its true
[23:35:25] jordan: sure, we are their largest trading partner. of course they want us to succeed but the US will no longer have the reserve currency going forward
[23:38:17] dug: most of the big developed countries owe money...that's how it is
[23:38:25] dug: no one cares about angola
[23:39:46] jordan: dunno looks like most of the G8 are on the green side
[23:40:22] jordan: it is US vs China and they lead in reserves and we lead in deficits.
[23:41:37] bcho018: what a contrast.....
[23:44:33] bcho018: The only time I can see China going to war is to get their land back and for resources though I think the latter is unlikely since they like diplomacy

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[20:19:12] dug: charts def pointing to a MAJOR drop in guppy in 4 hr...and thus the DOW
[20:19:23] dug: i think that's indicating the jobless number tomorrow will be worse than horrendous
[20:20:24] jordan: good point, good chance jobless will be low
[20:29:22] bcho018: my 15 conquer is 30 pip away from TP!
[20:29:32] bcho018: Drop In
[20:29:57] bcho018: 15
[20:30:24] bcho018: 5 pip
[20:30:33] bcho018: oh TP!!!! wheres the champion!
[20:31:31] dug: double short ETFs!!!
[20:31:33] bcho018: The Zero Line cross Tp at 120 pip yesterday
[20:32:26] jordan: hehehe
[20:32:30] dug: news out today of 3x ETfs ...two already already out for russell 1000 and 2000
[20:32:55] jordan: a mere 30 pips from our 400 pips tp as well
[20:33:14] jordan: you have been stomping those double short ETFs!!!
[20:33:15] bcho018: conquer is like a money tab
[20:33:42] Belinda: It won't shoot back up again, will it? I want to take it out now!
[20:33:57] jordan: come it does have the periods in choppy markers that are frustrating. do you remember we had like 6 zlc in a week once
[20:34:23] jordan: yeah but you wanted to take it when it was break-even the other day also!
[20:35:31] bcho018: Yeah it was kinda choppy about between 3 dys and 2 days ago
[20:35:43] Belinda: true  but I could have taken it out once when it was down, taken a profit, then entered again and taken a profit -- no?
[20:36:48] jordan: sure, if you have those kinda skills
[20:37:02] jordan: following the system works best for me!
[20:37:07] bcho018: Oh this is exciting man tp after tp after tp

[andy] out of interest Jordan, how long you been trading the conquer ? have you back tested ?
[jordan] on one hand I feel bad about the error on the date, on the other that is really funny
[jordan] we started trading the Conquer on 1/3/2008
[jordan] it has been more than extremely profitable and consistent
[jordan] it had been back tested after it had been created, I do not back test to create a trading method
[andy] i looked back to jan 1st , just a quick eyeball and the signals look fantastic since then
[jordan] it is really something. the entry on the drop in is going to be adjusted (see forum for adjustments)to instead of the lower reading (when selling) of the stoch when above the 70 level to when the low of the previous price bar is taken out while the stoch is above the 70 level
[jordan] this is going to make it even better
[andy] not sure I understand from the forum
[andy] at present you enter of the stoch registering a lower high once above 70
[andy] assuming we are in a down/red true trend
[andy] how does the new entry work?
[andy] ok - just reread and think I understand
[andy] you are no longer looking for a lower high in stoch, just a lower bar piercing after the stoch are in the 70's
[jordan] you have it, exactly
[jordan] by the time the lower reading of the stoch shows price usually has fallen, which puts our stop further away than if it had been the previous entry AND gets us in closer to our tp
[jordan] there is one other change, not sure if it is in the forum thread or not. on drop in's instead of orders 1-3 just order 1. often, very often we have order 1 tp and order 2 stop out taking away some of our gains. on occasion order 2 & 3 tp out but it is rare and not as efficient as the 1 order will be

[16:17:14] Nikos: Hi everyone
[16:37:57] andy: Hi Nikos - I'm new here, are you a regular ?
[16:39:52] Nikos: hi andy...sorry I was out for a min
[16:40:19] jordan: hello everyone, good morning/afternoon
[16:40:22] Nikos: Well you could call me a regular...with the group from the beginning of the year
[16:40:42] andy: ok cool - I hope to become a regular over time
[16:41:10] jordan: jeongwhoo was rights, market rally today
[16:42:05] Nikos: glad to see u here
[16:42:39] Nikos: jordan rally with momentum
[16:43:18] jordan: anything behind it? haha when there is momentum that is all that matter eh
[16:43:45] Nikos: that's right!
[16:45:00] Nikos: if we go over 166 might go higher...a bottom is in place for the moment anyway
[16:47:03] jordan: (4 hr) true trend red, stoch above the 70 level - price at upper channel (resistance) we need to break out here to have another leg up otherwise we drop (in)
[16:48:36] jordan: usually for near term market predictions we are on the same side, this time we differ!
[16:50:54] Nikos: I think we are not 154.13 might see some down action, but rebound might continue, even though DD might profit
[16:51:42] Nikos: sorry i meant 162.29-30
[16:53:03] Nikos: you see I would wait for RSI to hit 70 also
[16:54:29] Nikos: with the momentum present we might get over 90 for Stock
[16:56:44] Nikos: I have my usual 2% long at 158.21 stop below 153.50 just for fun
[16:57:13] Nikos: T/P 168!
[16:58:57] jordan: nice Nikos! stop moved at any point to break even or are you going to continue to give it room?
[16:59:33] Nikos: will move after 162.30
[17:03:05] Nikos: I do not expect it to go below 159, at which rebound I will add
[17:04:03] Nikos: Then will think of limiting the original risk
[17:04:59] jordan: i like that a lot Nikos, I like you waiting to see if it pulls back and you adding at that point
[17:05:54] Nikos: of course the market has its own mind...but that's trading...a plan and hope for the best! otherwise will be another day\
[17:07:52] Nikos: There is one draw back to this trade... you should watch it more often than 24 hrs..he he he...and that's why I am here!
[17:08:22] jordan: food for thought for your current trade. if you have a 2% position on that is well into profit and currently testing some resistance, is it a good idea to take some of the position off (1/3 to a 1/2) to which you can add back on a price retraces and if it does not you still have a a position on
[17:09:05] jordan: i like that triangle on the 15m that broke out at 159, I see why you picked that level to add again
[17:09:20] Nikos: You r right but I didn't know you could do that on Oanda
[17:09:36] jordan: like this, if you have X amount of units and wanted to take 1/3 off divide that number (units) by 3 and then place a sell order for that many units
[17:10:37] andy: hi guys - do you use the slope of the true trend line ?
[17:11:10] andy: i.e 4h GBPJPY is heading towards the zero line ..slowly..
[17:11:19] Nikos: Yes! The egg of Colombus! Thanx Jordan sometimes I think that I am getting old....
[17:12:37] jordan: yep, it sure looks like it Andy. Scroll back to 2008.9.21 (4 hr) it sure looked similiar to now
[17:12:48] Nikos: Andy r u on the 4 hr chart?
[17:13:03] andy: yep on 4hr
[17:13:17] Nikos: k
[17:13:31] andy: when you took the original 4h gbpjpy drop in, would the fact that the true trend is sloping towards zero influence your trade
[17:13:53] andy: i guess ideally the trend should be sloping the other way for an ideal setup ?
[17:14:51] jordan: by the time the stoch made the lower reading to give the signal the slope in the tt will also have changed to be pointing downward too
[17:16:58] andy: if i draw a trend line on the true trend from 24oct 08:00 it slopes upwards, if the GBPJPY was going lower wouldn't the slope down be a better signal
[17:17:30] Nikos: (Jordan u saw the triangle but also a 23.6 Fibo of the last swing)
[17:19:45] Nikos: Just try the reverse entry, works fine...thx again
[17:21:40] jordan: the theory behind the true trend is the entry is taken (short) from a point when the trend (tt red) is down and we get near term overbought (stoch up) like a rubber band being stretched apart we are looking to enter from this position so that it could snap back toward the trend in place
[17:23:51] jordan: look at all of the other drop in's from this set of series while the true trend has been red, each time the slope had been rising
[17:25:45] andy: ok gotcha -
[17:26:57] andy: have to leave now, but thanks for the input
[17:40:58] jordan: great timing if you took some profits up there
[17:47:49] Nikos: sorry Jordan I was on the phone for some time...yes I took off one third at the top
[19:34:22] jordan: approaching 159 area Nikos, over 200 pips since you took profit
[20:07:22] Nikos: Just back...passed 159 ..lets see
[20:08:11] Nikos: will wait for 158 area now
[20:35:24] Nikos: got in at 158.96 but I am careful
[20:40:48] Nikos: This trade has one big drawback: I must go to sleep as I have to get up at 05:00 tomorrow
[21:10:24] jordan: right now you are in profit and have taken profit. I would think about selling another 1/3 (or half of what you have) into this up movement right here.

News:
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reuters.com — NEW YORK - Nearly one in five U.S. mortgage borrowers owe more to lenders than their homes are worth, and the rate may soon approach one in four as housing prices fall and the economy weakens...

Goldman Sachs takes $12B Bailout, Hands out $14B Bonuses
dailymail.co.uk — You aren't going to read about this in the US press, they are too busy lying about everything they report. We have to read about it in a British newspaper.