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Indicator Free Trading - Skunny

  • #41
  • Dec 12, 2007 5:22pm Dec 12, 2007 5:22pm
Quoting Skunny
Just want to say this,
If you say you haven't blown an acct you are either lying or not trying.
That's a bit overgeneralized, don't you think? you don't have to blow your account. I'd rephrase your wisdom and say, if you haven't lost a lot more than you were ever willing to put on the line, you're not trying hard enough to make real money.

Or some such.

While on the subject of trading experience, you can tell you are nearing the levels of a pro when your psychology is the same whether you're trading a demo account or your actual cash.
  • #42
  • Dec 12, 2007 5:28pm Dec 12, 2007 5:28pm
Quoting Skunny
When I have a trade go sour it is a result of my errors. I can retrace the move after and see where I was at fault.
Not so fast... hindsight is 20/20, and you want to be careful to retrace without making extra-sure you consider the exact context in which you were entering your trade (and exiting it at a loss). The danger is to look at the past and make the information fit the mental model of your assumed error, when in fact you may have done everything right, but just had bad luck in your timing.
  • #43
  • Dec 12, 2007 7:38pm Dec 12, 2007 7:38pm
Quoting digitil
That's a bit overgeneralized, don't you think? you don't have to blow your account. I'd rephrase your wisdom and say, if you haven't lost a lot more than you were ever willing to put on the line, you're not trying hard enough to make real money.

Or some such.

While on the subject of trading experience, you can tell you are nearing the levels of a pro when your psychology is the same whether you're trading a demo account or your actual cash.

Ok.......
Robonacci com
  • #44
  • Dec 12, 2007 7:44pm Dec 12, 2007 7:44pm
Quoting digitil
Not so fast... hindsight is 20/20, and you want to be careful to retrace without making extra-sure you consider the exact context in which you were entering your trade (and exiting it at a loss). The danger is to look at the past and make the information fit the mental model of your assumed error, when in fact you may have done everything right, but just had bad luck in your timing.
I'm not sure what you mean. It doesn't make sense to me. Are you suggesting you can't figure out if you were the victim of a trade due to your own mechanical idiocy or if you fell into the hands of a unforeseen market move? There is no hindsight to this for me. Thanks for asking.
Robonacci com
  • #45
  • Dec 13, 2007 7:51am Dec 13, 2007 7:51am
I'm a little hesitant to start this but.......................


This is just an exercise, I am not here to teach a system. Those that want to participate should benefit. What I'm showing you is 1% of what is. This is just a simple step that I believe will help you look at the market a bit different. If you are still looking at the market like 95% of "traders".....well, you know the stats.

Open a weekly chart and blow it up (not literally). Now open your Fibonacci tools and pull a linear fib from the high and low of any candle. Make sure your fib tool has the extensions set at 138 and 162 like in my example. Now watch what happens when the either the high or low is breached. More often than not when the low/high is breached the extensions get hit to some degree.(for you to figure out). When they don't, what happens?

I'm sure there are some that are going to add up the pips they could've made, but don't waste your time trying to make a system just yet. You can walk your fib from candle to candle for months and it should only take a few minutes before you see what I'm talking about. It doesn't need to be perfect.

Now typically, your stop would be at the high or low levels of the candle. For this exercise assume this. So, out of 40 candles, how many hit an extension before it hit it's stop?

Now, for those that want to point out the losers (you all know who you are) You don't have enough knowledge yet to point it out so please refrain.

Another tid bit, In forex, we need to compensate for bad data, because of all the different platforms/brokers the price is rarely accurate to the pip. Other markets that have more accurate feeds read better.

There is a method to my madness.
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Robonacci com
  • #46
  • Dec 13, 2007 8:35am Dec 13, 2007 8:35am
By "linear" fib, you mean just a plain old everyday fib?
  • #47
  • Dec 13, 2007 8:42am Dec 13, 2007 8:42am
Quoting blueruby
By "linear" fib, you mean just a plain old everyday fib?
Yes sir, as opposed to a fib fan or fib arc or a fib channel. Wow there are a lot of tools here to learn...lol
Robonacci com
  • #48
  • Dec 13, 2007 8:46am Dec 13, 2007 8:46am
Quoting Skunny
There is a method to my madness.
There's a madness to my method.

You've heard of Bill Williams' "profitunity" method?

Mine's a derivative of that -- I call it the "profanity" method.

  • #49
  • Dec 13, 2007 8:54am Dec 13, 2007 8:54am
Ok, I will never do this again, but someone pm'd me suggesting I should post my trade results for this week. I will, but never ask again...please. It isn't important. I also have trades running in case you want to know that as well Not sure how this helps your trading but here it is....lol


Those that are finding anything useful in this thread need to let me know by making a post here. I will continue as time permits, as long as I know I'm helping.

Not sure if it uploaded correctly, if it didn't I won't be trying again...lol

Thanks!
Attached Image
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  • #50
  • Dec 13, 2007 8:57am Dec 13, 2007 8:57am
Quoting Skunny
I'm a little hesitant to start this but.......................

There is a method to my madness.
Keep it up, although hoping for...

More matter, with less art.
Hamlet, 2. 2
  • #51
  • Dec 13, 2007 8:59am Dec 13, 2007 8:59am
Quoting Skunny
Ok, I will never do this again, but someone pm'd me suggesting I should post my trade results for this week. I will, but never ask again...please. It isn't important. I also have trades running in case you want to know that as well Not sure how this helps your trading but here it is....lol


Those that are finding anything useful in this thread need to let me know by making a post here. I will continue as time permits, as long as I know I'm helping.

Not sure if it uploaded correctly, if it didn't I won't be trying again...lol

Thanks!
LOL,Your going to get bombarded with requests and PM's now by posting that.
  • #52
  • Dec 13, 2007 9:03am Dec 13, 2007 9:03am
Quoting doubledutch
Keep it up, although hoping for...

More matter, with less art.
Hamlet, 2. 2
What are you looking for? I take requests . It sounds like you're board.
Robonacci com
  • #53
  • Dec 13, 2007 9:04am Dec 13, 2007 9:04am
Quoting Bobokus
LOL,Your going to get bombarded with requests and PM's now by posting that.
I hadn't thought of that Where were you 10 minutes ago when I made that foolish decision?
Robonacci com
  • #54
  • Dec 13, 2007 9:05am Dec 13, 2007 9:05am
Quoting doubledutch
Keep it up, although hoping for...

More matter, with less art.
Hamlet, 2. 2
By this message you seem to suggest the art part isn't valid......hmmmm, is it?
Robonacci com
  • #55
  • Dec 13, 2007 9:12am Dec 13, 2007 9:12am
Quoting Skunny
I hadn't thought of that Where were you 10 minutes ago when I made that foolish decision?
You can still delete the whole post.

But, you got our full attention!

Thanks for posting it, that is so encouraging for us to just keep remembering that IT CAN BE DONE AND IS BEING DONE!

Sigh. Another year or two, I'll be there!
  • #56
  • Dec 13, 2007 9:13am Dec 13, 2007 9:13am
Quoting Skunny
By this message you seem to suggest the art part isn't valid......hmmmm, is it?
On the contrary, i am....
By indirections find directions out.
Hamlet.
  • #57
  • Dec 13, 2007 9:14am Dec 13, 2007 9:14am
Quoting Skunny
Ok, I will never do this again, but someone pm'd me suggesting I should post my trade results for this week. I will, but never ask again...please. It isn't important. I also have trades running in case you want to know that as well Not sure how this helps your trading but here it is....lol


Those that are finding anything useful in this thread need to let me know by making a post here. I will continue as time permits, as long as I know I'm helping.

Not sure if it uploaded correctly, if it didn't I won't be trying again...lol

Thanks!
Those are great totals, I'm I reading that right? Almost 22k for the week? I have been following the thread and I like and appreciate your trading style. It is very much appreciated! I downloaded the info you mentioned to study, vhand etc and re-booted my tradestation and bam, it crashed. It won't re-open now and so I am waiting for tec supoort to give me a hand or I'm re-download. But I was just wondering if anyone else might of had similar problems? Just wondered.

Thanks again for this great thread!
PipHunter
  • #58
  • Edited 9:29am Dec 13, 2007 9:16am | Edited 9:29am
Quoting doubledutch
Keep it up, although hoping for...

More matter, with less art.
Hamlet, 2. 2

LOL Now this is irony... Quoting art for more substance and less art... I get it, redirection...

Good one, it made me think deeper. I like it.
  • #59
  • Dec 13, 2007 9:26am Dec 13, 2007 9:26am
Quoting Skunny
I'm a little hesitant to start this but.......................

There is a method to my madness.

Ok like a good little boy bob went and did Professor Skunny's little exercise :>

It seems that when a weekly high/low is breached on the following week but fails to reach an extension, price retreats to within the body of the previous week and suffers from an opposite close i.e if the previous was bullish and the next breached the high but did not make it to extension after the breach the current will close bearish and within the previous's range, many times.

More methodical madness please.
  • #60
  • Dec 13, 2007 9:29am Dec 13, 2007 9:29am
Quoting Skunny
Open a weekly chart and blow it up (not literally). Now open your Fibonacci tools and pull a linear fib from the high and low of any candle.
Wow! Off to a great start!

I buckled down to make a day of it, so I went back and started at the Jan 2, 2000 candle, intending to go from there up to the present.

Maybe I just picked a lucky candle to start on, but I am absolutely, totally blown away by what I'm seeing.

If anyone else wants to look, I'm talking about GBP/JPY.

Also, if anyone can't make their fibs look like skunny's speak up, I'll hijack the thread for one post to show it and save skunny the trubble.
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