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Indicator Free Trading - Skunny

  • #401
  • Dec 17, 2007 4:14pm Dec 17, 2007 4:14pm
Quoting thunderwolf
Hi Skunny,

I'm enjoying your thread, been going over it the whole week end and there are many thought provoking ideas here from you and many of the other traders. Right now I'm trying to absorb and trying to understand everything you've stated. That means getting rid of a lot of bad trading habits I've accumulated.

I'm a Minnesota guy too from just south of St.Cloud. Originally from Canada, I played minor league hockey in the early 70"s for the Edmonton Oil Kings{ Right Wing } but I didn't see any signs of BigFoot up there

Anyway, glad I'm here and looking forward to learning more. Thanks! ...T-Wolf
Glad to hear, I take my son to Williams Health Clinic in Sartel every so often. I had my real estate brokerage in Elk River/Princeton area.
Robonacci com
  • #402
  • Dec 17, 2007 4:26pm Dec 17, 2007 4:26pm
Quoting Skunny
Remember we are only on S/R and price action. It's more important to go back to Vhands and watch these areas before jumping to conclusions on how I trade because you won't figure it out with the info I've given. You probably won't ever:. But by trying you will find something that works for you.
I have a killer recipe for tomato sauce.... (from my mother....my italian side) ..... its a major secret sort of like your trading method.....i was thinking you may have earned a copy..... but i'm not sure yet...lol we'll see... if ff members are interested i can start a thread where i present the recipe as an esoteric enigma so you all can enjoy the journey of discovering it on your own? what do you guys think? sounds like fun huh?!
  • #403
  • Dec 17, 2007 4:32pm Dec 17, 2007 4:32pm
Quoting Skunny
Hey Scott, we are having company over tonight for spaghetti. Now would be a good time to PM your secret.
But then you will just sell the recipe on ebay...
  • #404
  • Dec 17, 2007 4:38pm Dec 17, 2007 4:38pm
Here is how I look at support. Note it is easy to see these areas after the fact. I don't trade the 240min so this does not represent what and how I trade during this period covering the swing down.

The three points have each a blue arrow underneath the bar that represents breakout from previous congestion which is the true representation of support, i.e. more buyers than sellers.

1st support area had a gap down on monday opening. There goes that support that then became resistance on 11/14/07 and again 11/28/07. 2nd support worked although not nearly as good as 3rd.
Attached Image (click to enlarge)
Click to Enlarge Name: GU240.jpg Size: 69 KB
  • #405
  • Dec 17, 2007 4:59pm Dec 17, 2007 4:59pm
Quoting Skunny
Remember we are only on S/R and price action. It's more important to go back to Vhands and watch these areas before jumping to conclusions on how I trade because you won't figure it out with the info I've given. You probably won't ever:. But by trying you will find something that works for you.
I've been following along and studing the charts as with each new point your making. Can you at some point, expound a bit on how you determine were you like to draw your R/S lines. For example, what sort of range (% of move) does price have to pullback to count it as an area of s/r? Candle recognition? I done some drawing of trendlines that seem to workout fine in most cases. I just think that drawing them, as you do, and based on what your trying to teach us is critical to use trusting them.

This thread has certainly opened my eyes, big time.
PipHunter
  • #406
  • Dec 17, 2007 5:02pm Dec 17, 2007 5:02pm
Quoting SunTrader
Here is how I look at support. Note it is easy to see these areas after the fact. I don't trade the 240min so this does not represent what and how I trade during this period covering the swing down.

The three points have each a blue arrow underneath the bar that represents breakout from previous congestion which is the true representation of support, i.e. more buyers than sellers.

1st support area had a gap down on monday opening. There goes that support that then became resistance on 11/14/07 and again 11/28/07. 2nd support worked although not nearly as good as 3rd.
Support isn't just major. For instance, weak support on a monthly chart will show major support on a lesser time frame. This is all about tracking price and getting in the flow.
Robonacci com
  • #407
  • Dec 17, 2007 5:13pm Dec 17, 2007 5:13pm
Quoting Pip Hunter
I've been following along and studing the charts as with each new point your making. Can you at some point, expound a bit on how you determine were you like to draw your R/S lines. For example, what sort of range (% of move) does price have to pullback to count it as an area of s/r? Candle recognition? I done some drawing of trendlines that seem to workout fine in most cases. I just think that drawing them, as you do, and based on what your trying to teach us is critical to use trusting them.

This thread has certainly opened my eyes, big time.
That's the beauty of what I'm showing you right now. What you see on 4 hour is what you can see on 15mn.

When deciding what is support to be used to trade requires you to use vhands. A quick guide is to watch candle to candle. Sometimes 1 candle will hold all the information you need and sometimes it takes 10. You'll need to use the previous candle data to judge. It gets easy quickly I'll regret doing this but, set this non lag zig zag to 0,1,2.0 and it will give you an extreme idea, but don't use it to trade!!!!!
Attached File(s)
File Type: mq4 NonLagZigZag_v2.mq4   6 KB | 1,522 downloads
Robonacci com
  • #408
  • Dec 17, 2007 5:13pm Dec 17, 2007 5:13pm
Quoting Skunny
Support isn't just major. For instance, weak support on a monthly chart will show major support on a lesser time frame. This is all about tracking price and getting in the flow.
That is your response. OK its your thread. Have fun.
  • #409
  • Dec 17, 2007 5:15pm Dec 17, 2007 5:15pm
Quoting SunTrader
That is your response. OK its your thread. Have fun.
I guess I could have said the same about your comments (but I decided not to be rude)
Robonacci com
  • #410
  • Dec 17, 2007 5:23pm Dec 17, 2007 5:23pm
Quoting Skunny
That's the beauty of what I'm showing you right now. What you see on 4 hour is what you can see on 15mn.

When deciding what is support to be used to trade requires you to use vhands. A quick guide is to watch candle to candle. Sometimes 1 candle will hold all the information you need and sometimes it takes 10. You'll need to use the previous candle data to judge. It gets easy quickly I'll regret doing this but, set this non lag zig zag to 0,1,2.0 and it will give you an extreme idea, but don't use it to trade!!!!!
Thanks Skunny!
PipHunter
  • #411
  • Dec 17, 2007 6:14pm Dec 17, 2007 6:14pm
If "That is your response" is rude what do you call a response dismissing a chart posted as you asked for?

My chart clearly shows true support and you say 'tracking price and getting in the flow". I made the word "That" bold to emphasize and try to elict something other than new age speak. Obviously we have different opinions of where true support/resistance resides.

You might want to get a another opinion and google a trader named Sam Seiden and see what he has to say.
  • #412
  • Dec 17, 2007 6:15pm Dec 17, 2007 6:15pm
Quoting Skunny
I guess I could have said the same about your comments (but I decided not to be rude)
The Paradox Of Writing

Written by Evan Bailyn on 01/20 at 09:30 PM
I write for you. With every sentence I type, I pass my words through a filter of how I think you’ll react. If your opinion didn’t matter, I wouldn’t be distributing my writing; I would keep to journals, in which I could scribble and dabble and review every few years to see how my identity had evolved. Or, I wouldn’t write at all. Yet there is an excitement which I believe all writers feel in the prospect of creating something that translates an emotion so well that it can reach the quick of another person.
Still, the very foundation of writing is honesty. If I were to write solely for other people’s benefit, my work would be inauthentic, noticeably lacking in that glimmer of originality that gives a piece its impact.
Therein lies the paradox of writing – remaining true to your feelings within the boundaries of your audience’s tastes. In life, too, we adapt our behavior to the people and situations we encounter, which is why writing often tells us so much about who we are.

FOOD FOR THOUGHT..... there are many of us that see a great soul in you skunny, through your writing! god bless and well wishes to you iand yours n this difficult time.... to create and inspire is a divine gift..thank you so much for sharing
  • #413
  • Dec 17, 2007 6:43pm Dec 17, 2007 6:43pm
When I look this up on the Net, there is some commonality but also differences.

The levels between 0 % and 100 % seem to be well established but both less than 0 % and above 100 % there seems to be considerable disagreement.

TIA
Darkness lies one inch ahead..
  • #414
  • Dec 17, 2007 7:06pm Dec 17, 2007 7:06pm
Quoting TraderJR
When I look this up on the Net, there is some commonality but also differences.

The levels between 0 % and 100 % seem to be well established but both less than 0 % and above 100 % there seems to be considerable disagreement.

TIA
Remember....95% of traders have it mostly wrong!
  • #415
  • Dec 17, 2007 7:52pm Dec 17, 2007 7:52pm
Great thread skunny!!!!

Do you use any kind of time cycle analysis along with your PA and fib analysis?
  • #416
  • Dec 17, 2007 8:20pm Dec 17, 2007 8:20pm
Quoting SunTrader
Obviously we have different opinions of where true support/resistance resides.
skunny is stirring up a hornet's nest here; traders are getting frustrated (and for good reason).

[frustration: the interruption of a goal directed action, which sometimes results in violence!]

but lots of impressive under the box exploration by everyone.

have you considered dynamic fibs, which would imply dynamic s/r?
realize the universe is one thing, and attach it to your body
  • #417
  • Dec 17, 2007 8:26pm Dec 17, 2007 8:26pm
Quoting SunTrader
You might want to get a another opinion and google a trader named Sam Seiden and see what he has to say.
I did that, and found some cool stuff. My brain is like a sponge on this stuff right now (lots of room after clearing the indicators from my attic .

I appreciate the caliber of traders that are here and I'm happy to learn from all who'll teach. I intend to take the nuances from each experienced trader and make a trading style "all my own".
Is your SL my TP?
  • #418
  • Dec 17, 2007 8:28pm Dec 17, 2007 8:28pm
I'm a little confused...when drawing the fib expansions on a weekly or daily chart do we use a single bar or a swing(established low to established high)?

Thank you
  • #419
  • Dec 17, 2007 9:12pm Dec 17, 2007 9:12pm
Quoting kenmania
I did that, and found some cool stuff. My brain is like a sponge on this stuff right now (lots of room after clearing the indicators from my attic .

I appreciate the caliber of traders that are here and I'm happy to learn from all who'll teach. I intend to take the nuances from each experienced trader and make a trading style "all my own".
There ya' go.
  • #420
  • Dec 17, 2007 9:20pm Dec 17, 2007 9:20pm
Quoting buddhi
what would be the answer to the answer, man...

have you considered dynamic fibs, which would imply dynamic s/r?
I don't know what the middle part of your post means, but one of the answers is your last comment; dynamic fibs. Another is finding the breakout points from congestion which my chart example showed by the 3 blue arrows.
And if this was some other market besides forex you would look at volume at these particular zones on the chart.
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