Sent you a pm. Not sure if I should post links or not although the link is in post #3892 anyway.
COT trading system with free indicator 297 replies
SWAP free, rollover free Broker? 15 replies
DislikedI'll give em a read and see if anything clicks this time. If it doesn't I think it's time to move on, I've spent enough time on this thread reading it and life's too short. I'm not a quitter but this is all too mystical for me. Hey I like Sam Seiden's stuff anyway, much simpler.
Although it's always a pleasure to talk to Texans.Ignored
Dislikedthere is something we all need to figure out... skunny said on one of his first post that we need to draw a chart like his and see what happens when it is penatared not boken.. that its important to watch it live ..ive traded vhands and i dont get it...any ideas any oneIgnored
The market likes to give hints on where it is going to go next, even if it takes a while to get there. You can
observe this when S/R lines are penetrated but not broken. As long as you have your S/R in the right spot.
For instance, if a support area is penetrated by 20 pips and turns itself into the most misread candle in trading.......The Dreaded Pin Bar.
After the "pin bar" is done getting everyone into a long trade it magically heads back down to bust through the support. You can know this information ahead of time, so you aren't long. You can sit there all smug waiting for a short signal and do this. This is where Vhands trading is essential. You can watch the price action hit the supports you've drawn and see how it reacts to it. Looking at a candle that has already formed is relatively useless in the learning process.
DislikedYour bright blue fib is not valid until the mid range resistance levels are completed.Ignored
I think that Skunny was talking about looking for S/R that is penetrated but not broken. Then either take that as a hint of direction, or use that extreme for a Fib start/end point.
Once price beyond that extreme, then it is going to trap a lot of traders and take out a lot of stops - which gives it further momentum (compare with Sam Seiden).
A quote from post #81:
[left]The market likes to give hints on where it is going to go next, even if it takes a while to get there. You can
DislikedI need to correct something I said earlier before someone discredits me. When I was talking about price breaking down any trader in a long position would buy to get out. Of course, this is wrong, they would sell and probably push price lower initially. The point of this is those stops would be cleared out so if price returns to the original support (now resistance), the smarter sellers return with less barriers to hold up the move down again.
I really have gotta leave that scotch alone....Ignored
Disliked[font=Book Antiqua][size=3]I have been reading Skunny's thread for awihile now and i've also tried to use his method in my own live trading. I myself prefer to trade the single weekly candles. Does anyone know what it is that actually prevents price from hitting the the 1.382 fib ext? I think that this is the problem many traders are having with Skunnys method of trading. We draw our fibs and see support or resitstance penetrated and we think we know what's about to happen only to see the price move to the opposite end of the...Ignored
DislikedThat is the whole purpose of practicing and observing. Once you figure out why not every sr pairing works, you will be on your way.
The thread is laid out I presume ,as Skunny learned and we all learn differently, hence, It may not click for everyone. That is fine.
If someone were to tell you the reason, it still wouldn't help I do not think, but here goes. Price moves in ratios of 1.382. If the fib you are measuring is not completed chap.. it is because it was not following that and had a different target...hence one must track price I have...Ignored
DislikedThat is the whole purpose of practicing and observing. Once you figure out why not every sr pairing works, you will be on your way....Ignored