Mom
"To conquer fear is the beginning of wisdom." – Bertrand Russell
There was nothing wrong with your fib - but it is a bit too optimistic to assume that once the breakout takes place, price will ALWAYS hit the next fib level. I'm sure that you can easily find numerous examples of such price behaviour, on any tf, especially on ranging markets.
When the puff behind a move dies out and trend changes, it just happens, regardless of the fact that the price did not quite hit the fib levels drawn in this way or that way.
Fibs, or any other indicator, can not forecast future price behaviour, it is only a tool for identifying possible targets, which then may or may not be met.
R
When the puff behind a move dies out and trend changes, it just happens, regardless of the fact that the price did not quite hit the fib levels drawn in this way or that way.
Fibs, or any other indicator, can not forecast future price behaviour, it is only a tool for identifying possible targets, which then may or may not be met.
R
lol, Im now thinking I must be trying to trade this different to some of you. That trade I took was by my rules which I gathered from what I have read, and it did not result in a profit.
I realise you are saying its a doji on the 1hr, but I fail to see how or why it is a good thing. Im stumped, give me a little push to understand what ur saying please.
Good Trading!
What about the other .618...how to determine ahead of time. Any thoughts.
Still keeping track to see if it is part of the moiler quail.
Mom
"To conquer fear is the beginning of wisdom." – Bertrand Russell
There was nothing wrong with your fib - but it is a bit too optimistic to assume that once the breakout takes place, price will ALWAYS hit the next fib level. I'm sure that you can easily find numerous examples of such price behaviour, on any tf, especially on ranging markets.
When the puff behind a move dies out and trend changes, it just happens, regardless of the fact that the price did not quite hit the fib levels drawn in this way or that way.
Fibs, or any other indicator, can not forecast future price behaviour, it is only a tool for identifying possible targets, which then may or may not be met.
R
Aw shucks! Ya had to spoil it.
P.s. - Thanks for the trade planner, Mom.
- | Joined Nov 2006 | Status: Seeking Light | 1,059 Posts
I made up a Trading Plan worksheet to help me keep my focus. It may be of help to some, and you can take it and adapt it to your style.
To be consistent you must Plan your Work/Trade, and Work/Trade your Plan. (old saying, but true)
Enjoy the Weekend Folks 
I now understand what Skunny has been talking about. I have not been able to stop thinking about this thread since I started reading it on Tuesday night. I stayed up for two days (thats right, no sleep!) trying to figure this out and retrading using vhands. I thought I had it last night/this morning but I didn't and I was exhausted. I went to bed finally and woke up this afternoon ran some errands and got right back on it with a fresh mind and a pair of eyes. As I was looking at the chart and trying to remember all of Skunny's little riddles - I SAW IT!! 
IT HIT ME LIKE A TON OF BRICKS!!! I couldn't believe it is so simple yet it has taken hundreds if not thousands of hours of pouring over charts for the last 3 years and I have also devoted the last 7 months full time to this endeavor and there it is right in front of me this whole time. If not for Skunny I would still be looking. Now understand what he means when he says you can be in a trade and never get out!! Also, you can trade at 100% unless the human element fails. I now also understand why the people that finally get it do not give it out
. It is a journey and what a wild ride it has been. This is life changing. I would like to thank Skunny and wish him the best. I owe him, I do not know what, but I still owe him.
I hope I got this right or else I will look like a fool to all of you after this post.
Thanks to all of you and especially Skunny!
Nick
IT HIT ME LIKE A TON OF BRICKS!!! I couldn't believe it is so simple yet it has taken hundreds if not thousands of hours of pouring over charts for the last 3 years and I have also devoted the last 7 months full time to this endeavor and there it is right in front of me this whole time. If not for Skunny I would still be looking. Now understand what he means when he says you can be in a trade and never get out!! Also, you can trade at 100% unless the human element fails. I now also understand why the people that finally get it do not give it out. It is a journey and what a wild ride it has been. This is life changing. I would like to thank Skunny and wish him the best. I owe him, I do not know what, but I still owe him.I hope I got this right or else I will look like a fool to all of you after this post.
Thanks to all of you and especially Skunny!
Nick
Shees, BarneyDog, the only clue I see that has some consistency is that if your inner fib's Targets are sitting inside the Major fibs DZ, and PA is making the higher highs/higher lows, or vice versa, toward that area stay alert. Not sure that is 61.8 cents worth though.
Fib Arc, Fib Fan, Fibs --- and, if you draw lines intersecting the Arc's and Fan's you have Farcs that need Fanning...real stinkers, if you ask me.
Farcs are hybrid Gann's.....
Now this is true Skunny Indicatorless Trading...or what Skunny really does behind the scenes. No wonder he told us it was only 1%.
On a more serious note....Skunny said the 138 will not become important, I wonder if we were to add more fibs to incrementally measure the entire previous days range we'd see where support and resistance would show up. Then, because of the fib ther"mom"meter, we'd be able to determine where to buy and sell based on a more precise measurement of price action.
I now understand what Skunny has been talking about. I have not been able to stop thinking about this thread since I started reading it on Tuesday night. I stayed up for two days (thats right, no sleep!) trying to figure this out and retrading using vhands. I thought I had it last night/this morning but I didn't and I was exhausted. I went to bed finally and woke up this afternoon ran some errands and got right back on it with a fresh mind and a pair of eyes. As I was looking at the chart and trying to remember all of Skunny's little riddles - I SAW IT!!
I hope I got this right or else I will look like a fool to all of you after this post.
Thanks to all of you and especially Skunny!
Nick
That's very exciting! And encouraging!
I can tell you that I have poured over charts for hundreds of hours, too. But I can't seem to get it.
I know you don't want to give the secret away, but perhaps a few clues about the process you used to get there might help me get there too.
So far the clues provided by Skunny are a bit too abstract for me to grasp. I've done the "exercises" but have certainly not gotten to the AHA that would yield 100% accuracy.
Thanks,
Phil
Phil,
Thank you. Let me say that when you get it you won't be able to believe the simplicity. IMHO you also won't believe that more people don't have the key. I guess we all learn and view things differently and at our own pace. You need to watch PA and what it does. There is a pattern. You also need to re-read the thread and the pdf file with the hints. They are there in plain site. He gave us the tools (not indicators) in this thread. Start with an open mind and delete all indicators off your chart and watch price movement.
This naked trading is tough, I am having problems taking my skivvies off. Its the cold time of year in these parts.
Thank you. Let me say that when you get it you won't be able to believe the simplicity. IMHO you also won't believe that more people don't have the key. I guess we all learn and view things differently and at our own pace. You need to watch PA and what it does. There is a pattern. You also need to re-read the thread and the pdf file with the hints. They are there in plain site. He gave us the tools (not indicators)
in this thread. Start with an open mind and delete all indicators off your chart and watch price movement. This naked trading is tough, I am having problems taking my skivvies off. Its the cold time of year in these parts
.
- | Joined Nov 2007 | Status: Trader | 261 Posts
Phil,
Thank you. Let me say that when you get it you won't be able to believe the simplicity. IMHO you also won't believe that more people don't have the key. I guess we all learn and view things differently and at our own pace. You need to watch PA and what it does. There is a pattern. You also need to re-read the thread and the pdf file with the hints. They are there in plain site. He gave us the tools (not indicators)
This naked trading is tough, I am having problems taking my skivvies off. Its the cold time of year in these parts
For example, did you actually trade during your sessions, or did you only watch price action? Were you actively drawing fibs all over, or were you waiting for obvious ranges to develop etc...maybe just like some simple guidelines to make our Vhands as efficient as possible. I'd also love to know what pair you practised on, if you wouldn't mind telling us! Thanks for the inspiration!