Indicator Free Trading - Skunny

LOL! And I wish you would have answered mine! But that's cool. I won't force the issue about your comments on fibs "as a waste of time" and whether or not refunds are warranted in THAT context. I'll let those folks fend for themselves.

As far as the old battle between TA and FA; I'll side with the TA gang. It's all I use. It's all I need. The 4-5 "spot-on" calls I have made in this and the fib paradise thread speak for themselves. Anyone that saw them (and I know some have due to the number of PM's I got thereafter); be advised they were strictly a result of TA and NOT knowing or caring how much tea was in China.

But alas; I'm not here to convince or sway anyone (in fact; I'd be happy to see everyone go back to looking at the latest MA/Stochastic/ADX crossover system!). Nor am I here to impress anyone. Just to impress upon those who do have interest that there are things to learn. Things buried under the covers. Things that NOBODY will just come out and tell you about (including Scotty, Darkstar, Merlin, Bemac, Skunny, etal). Why? Maybe because they don't know it. Maybe because they could not explain it if they wanted to. Maybe because they HAVE NO VESTED INTEREST in telling you what it took them years to learn. Who gives away, for free, the results of 5000 hours worth of work? Not Bill Gates. Not George Soros. Not anyone that ever wrote and sold a book, or ebook, or video, or DVD (even Scotty sold his ideas of value!) Heck....the Rolling Stones have made 100's of millions selling their records. I don't see them saying that NOW is the time to start giving them away for free! What pro athlete say's, "I've made mine. I'll just work for free now cuz it entertains my fans!" So seriously; some guy at FF is going to just "hand it over" if it REALLY works? Come on! But then; you all know this. So don't expect it. Just take your bull horns, commit the next several years, and learn HOW to trade. Easy Peezy! Well; maybe not. But it beats stocking groceries for a living (as I recall one of FF's most prolific posters mentioning that he was doing awhile back!!!).

Well; that better be it. Got places to go and things to do. Scotty; my response stands so I'll let it go at that. To all else; Toodles!

Before you get on my case, this is my quote from a few weeks ago.


"This journey has a lot more to it than a "skunny 138"

If my memory is right, i thought Skunny dumbed down his methods to give a starting point for learning, kind of like Kindergarten!

So don't expect to do calculus when you can only count to ten."


I too should disappear into the woodwork, as this isn't very constructive.

Good luck to all.

Scotty, if your fibs were failing it was because you had them pulled wrong. You can't just pick a random high/low and expect to pull a good fib from there, it doesn't work that way. You have to find the correct cycle to determine which S/R is "on" at any given time. The smaller the cycle, the harder it is to get it right. The sloppy data doesn't help either.

For those of you reading this thread, I can tell you that fibs DO WORK. It's tricky and takes a while to learn but this and the paradise thread are a gold mine of information. There's a lot more to it than what you will find here at FF but there's more than enough to get you started. The rest you will pick up on your own. Be prepared to get frustrated and discouraged (right Scotty?), but if you get serious about it and stick with it, you will get there.


Bartstop

I answered you but you will not accept the answer I gave. You're taking me out of context and want me to operate within yours. That's just not gonna happen. I tell you what though, when you come to the point where you realize what I've said about trading fibs as a stand alone, message me and I'd be glad to point you in the right direction. 5 good trade calls are fine, but can you quit your day job with fibs as your only resource? I submit that it cannot be done.

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@ everyone else again...(I don't like posting several different times when I can just get it done right here)

There was a spike in EU on the 25th and it was one of those times where we were between news and all of a sudden EU took off to the north. It was a pretty volatile little swing. Then along comes IFR with a report that says "aggressive buying by model funds in EU." Keep in mind the market has been pretty flat in anticipation of some major EU and US announcements. So what are we to make of the buying? When I look at the market I like to ask who, what, when, where and why. Thanks to IFR I knew who was trading. Why they are trading is a trickier question to answer. Either they are informed (they have the dope on the pending announcements), they are uninformed (trading for reasons other than speculation), or they are bluffing (trying to lure momentum traders into the market, find cheap liquidity ect. In a market like EU, large traders generally care about fundamentals. They, through their own research come up with estimates of value. When the market moves out of their value estimates they trade. The quietness of the market suggested traders were on the sidelines. There was no information that would warrant a move to a new value zone. Think also of the risk in aggressively establishing a new position just before news. If the news does not favor the side of the market you are on, you're going to have to compete with all the news traders to get out. Just not the best idea in the world. So were these funds informed? As you can see, when price was driven up and away from the pre-news zone, the mis-priced bids were immediately consumed and price traded back down to it's prior pre news position.

Had you been trading your fibs, you might have been suckered into buying in this instance. You'd be in real trouble if you were in the habit of entering a trade when resistance is broken i.e. the 0/100 is pierced, you'd regret trading.

Sometimes price will sharply move after a news announcement that wasn't that impressive. When the numbers are pretty close to the markets expectations, usually values won't adjust too much because the market prices in what it is expecting. So on a day like today for example, the GDP numbers were not really far from what was expected, and we are looking at another bull run. What are we to make of it? IFR is reporting that traders are somewhat baffled, some are saying that stocks may have been too cheap. I am looking for possible shorts. If you trust your fibs, look at the extensions and see about trading back into this range. Once you know the story, then go out hunting. Make it your goal get your trades in line with what the market is currently doing.

As Darkstar has said, there are many ways to trade orderflow, this is just one small idea for you all to ponder. I would encourage you all to at least pay a little more attention to the fundamentals. Oanda has a great free resource in their news service. There are lots of gems to pick out of what they offer.

The small paragraph I included is from IFR and it it regarding the current buy run in EU this morning.

So why didn't the market respond to the fib the first time the 38 was hit? Look at all the movement around the 38. How many times would you have attempted an entry? It looks to me like it would get expensive after a while.

Because of prior oblilgations.

Ironically, you are right, my friend. But it had nothing to do with Fibonacci.

I respectfully disagree.

I admire your conviction, Bart. I suppose if it's really working for you then keep on keeping on-- as Joe Dirt would say.

http://www.youtube.com/watch?v=sHTsQ9qePrQ&feature=related

Scotty you wrote

"There was no information that would warrant a move to a new value zone."

What you meant was "I could not see (perceive) (hard head) any information that would warrant a movement..

There are many threads where you can post your after the fact IFR.."news "
maybe this.. maybe that.. moved the market analysis for the move you just missed.

I for one would appreciate it if you spent your time somewhere that the audience may CARE about your limited opinions.

dang it youtube

It is. I'm not getting rich yet but I'm making new discoveries all the time. Perfect completions happen way too often for it to be coincidence. Again, sloppy data makes it very tricky. I noticed that you spent some time fibbing GY, which is the king of sloppy data. Too much volitility. That may be why you had so much trouble.

You're in luck.. See image below...

I've discovered that including Sams concepts with fibs is very beneficial.

http://www.fxstreet.com/search/contr...1-e9bf77216d2f

Have a good weekend everybody.

Scotty

That is mature!

I see a pattern, you focus on the negative and ignore the obvious.


Would you be so kind as to acknowledge that your statement is ridiculous and that "you" couldn't see any information.

They are certainly everywhere. Mostly just fib patterns. In all honesty though, I am quite amused at your hostility to what I thought was a pretty generous post.

focus on the negative and ignore the obvious

once again!!!

There was a question in there.

Alright, you got me! I admit it..There was no information I could see other than the perfectly reasonable information I was already using. Maybe I should have bought all along. Maybe things would have been different.