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Indicator Free Trading - Skunny

  • #921
  • Edited 2:32am Jan 2, 2008 1:58am | Edited 2:32am
Quoting Pipskateer
Absolutely incredible...right under our noses...and I'm sure just the tip of the iceberg.

I was getting quite a bit "lost", feeling like I was totally missing it, yet sensing it was RIGHT THERE. But after seeing your last few posts, I now realize that, even though I didn't have it all put together, I really did have a few bits and pieces of it after all. I enjoy they way you are teaching this very much. Yes, it's been a tad frustrating, but worth every ulcer! :

Seriously and sincerely...thank you so much for what you've shared with us. Hopefully, someday soon I can PM you and share some details of just how great a thing you've done here for me.
I could not agree more!

I had just finished re-reading every Skunny post and chart. The last few charts just lit up like Christmas trees for me after looking for a while.

Skunny......I can not thank you enough. You are right in your suggestion that just what you have disclosed so far could take someone across the line from "not" to profitable. It is nothing short of amazing to watch the PA movement in relation to the fib lines I am drawing. My last 4 trades were all profitable and accounted for close to 80 pips on the GU!

I had been going the indicator route and kept feeling like I had found "something".....but as we all know.....that doesn't last. Now I can see why. Price moves can be anticipated by just watching price....no more lagging indicators for me......amazing to finally set SL & TP that are not just arbitrary or a function of how much I "wanted" to risk.

The coolest part is the new sense of calmness & confidence (not cockiness). I can see that the future will not be a series of chasing trades or feeling like boats have been missed. It seems as though if done properly, one only need to watch price and new opportunities to "cherry-pick" will keep showing up. If this is only the first 2 chapters......I can't imagine what the next 8 will hold! This is the way that I am going to trade from now on. I am dumping my hundreds of indicators & templates.

I say this with all humility because I am sure I am just scratching the surface with what I am seeing on my charts. I will agree that although a little frustrating for those of us always looking for the quick answer, your method of throwing out hints and letting us do our own discovery is quite rewarding. In fact, I can see how each of us might all walk away with a little different method of application, yet all still be profitable using the concepts you have so far hinted at.

Again.....a huge thanks. Best wishes to you and your family for the new year. You are truly a gentleman!

P.S. Gonna make some time to dig into Bo's thread as well!
  • #922
  • Jan 2, 2008 4:19am Jan 2, 2008 4:19am
Quoting joypips
HAPPY NEW YEAR everyone
can someone please help with configuring fibs on dealbook 360. I just can't seem to figure out how to add lower values.

thanks skunny and everyone for input great thread.
I used to trade with dealbook, but I've had too many platforms since then. Usually, when you have the fibs highlighted you can rt click and open properties or get to the properties via the tool bar.

If you have trouble, customer service is always there to help you or you can open a demo acct at IBFX or another broker for free and use the same charts we are using.

I like brokers that start a new day at 0:00 GMT for data.
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  • #923
  • Jan 2, 2008 4:20am Jan 2, 2008 4:20am
Quoting Brunite
I could not agree more!

I had just finished re-reading every Skunny post and chart. The last few charts just lit up like Christmas trees for me after looking for a while.

Skunny......I can not thank you enough. You are right in your suggestion that just what you have disclosed so far could take someone across the line from "not" to profitable. It is nothing short of amazing to watch the PA movement in relation to the fib lines I am drawing. My last 4 trades were all profitable and accounted for close to 80 pips on the GU!

I had been going the indicator route and kept feeling like I had found "something".....but as we all know.....that doesn't last. Now I can see why. Price moves can be anticipated by just watching price....no more lagging indicators for me......amazing to finally set SL & TP that are not just arbitrary or a function of how much I "wanted" to risk.

The coolest part is the new sense of calmness & confidence (not cockiness). I can see that the future will not be a series of chasing trades or feeling like boats have been missed. It seems as though if done properly, one only need to watch price and new opportunities to "cherry-pick" will keep showing up. If this is only the first 2 chapters......I can't imagine what the next 8 will hold! This is the way that I am going to trade from now on. I am dumping my hundreds of indicators & templates.

I say this with all humility because I am sure I am just scratching the surface with what I am seeing on my charts. I will agree that although a little frustrating for those of us always looking for the quick answer, your method of throwing out hints and letting us do our own discovery is quite rewarding. In fact, I can see how each of us might all walk away with a little different method of application, yet all still be profitable using the concepts you have so far hinted at.

Again.....a huge thanks. Best wishes to you and your family for the new year. You are truly a gentleman!

P.S. Gonna make some time to dig into Bo's thread as well!
Thanks, good luck in 08'......or maybe you won't need luck anymore.
Robonacci com
  • #924
  • Jan 2, 2008 4:25am Jan 2, 2008 4:25am
Quoting Pipskateer
Absolutely incredible...right under our noses...and I'm sure just the tip of the iceberg.

I was getting quite a bit "lost", feeling like I was totally missing it, yet sensing it was RIGHT THERE. But after seeing your last few posts, I now realize that, even though I didn't have it all put together, I really did have a few bits and pieces of it after all. I enjoy they way you are teaching this very much. Yes, it's been a tad frustrating, but worth every ulcer! :

Seriously and sincerely...thank you so much for what you've shared with us. Hopefully, someday soon I can PM you and share some details of just how great a thing you've done here for me.
Great to hear, makes my efforts worthwhile
Robonacci com
  • #925
  • Jan 2, 2008 4:27am Jan 2, 2008 4:27am
Quoting fxfocused
Hey Skunny

Great thread, you are a Master teacher.

I just want to say a big THANKS to you and the others that have participated in this thread.

It has been a very rewarding journey and insight into the predictability and order of the currency movements.
I was always under the false impression that currencies worked under the reign of chaos and his mates, not so!

Yes, i'm one of those, 3 banks later.

The Moley Quail still has a little flesh on its bones but without a doubt its truely possible to trade indicator free and 100% perfect.

May you have a great year.
Regards
Mike
Thanks Mike, great new year to you as well. A good year is setting up!( on every pair)
Robonacci com
  • #926
  • Jan 2, 2008 5:43am Jan 2, 2008 5:43am
For those that bought gold at 730.25 it's time to TP. No need to get greedy, sell your long position and wait for another long entry or short entry.:
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  • #927
  • Jan 2, 2008 5:56am Jan 2, 2008 5:56am
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  • #928
  • Jan 2, 2008 6:10am Jan 2, 2008 6:10am
Quoting webfoot
Hey, Skunny
I see on your G/J chart that you have 2 fib setups.
Are they different time frames?
Then you have 2 trend lines from 100 to 0. Are these used
to help predict PA?
I looked at danielcode and it stated that he uses earlier
trend lines to predict future PA.
Hope I'm not jumping ahead of the lessons.
The 2 fibs were to illustrate a previous question. No trend lines were involve

I don't consider price levels trend lines. Trend lines to me are used in generalizing angled movement.
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  • #929
  • Jan 2, 2008 7:17am Jan 2, 2008 7:17am
Ok, I'm done for the day, I'm off to jury duty (hang'em)

I did work today from 4am-7am CST. So don't call me lazy. I cleared an amazing 37 pips during this very volatile market(not).

And oddly enough, it was done without indicators and I traded 100%. So, it is possible....lol.

Sometimes you only get little tiny trades
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  • #930
  • Edited 9:05am Jan 2, 2008 7:48am | Edited 9:05am
How about we talk about what's happening NOW?

Last week's low on G/J is 221.26. That has clearly been broken, we have closes across the line.

However, we know that S/R levels are +/-. You can find many instances on the charts where price hits S/R within a pip or two, and you can find many where it establishes new S/R 10 or 20 pips away or more.

In hindsight, it's always easy to put that fib on the right place.

In real time, not always so clear. We could have pulled the fib onto the 221.26. But, another low was made at 221.07 today (1H chart, it's not apparent on the 4H). Is that the S/R where we put the fib? What if it's making another bottom right now and retraces 360 pips today to the 50? Of course, we would move the fib to the new low.

We all know this could very well happen. G/J is volatile, and there is LOTS of support 221-ish. It could bounce here for awhile. So there are a lot of reasons not to just jump short because a 0 is broken.

I know nobody can answer this, but when you look at charts where the outcome is already known, you have to be honest with yourself and ask where you would have placed the fib(s) as it unfolded.
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  • #931
  • Jan 2, 2008 7:55am Jan 2, 2008 7:55am
Quoting fxgreek
Blueruby....you forgot to mention who this person is or how to find his thread. can you please post it thanks.
Who it was doesn't reinforce my point, which was that good traders cannot tell you what they really do, and most probably don't always know.

Skunny spent "a million hours" on the charts, establishing his system. He has mentioned how hard it would be to tell "all he knows". Now we're getting a few posts along the lines of 'sometimes I might do this, sometimes a little of that'.....

Profitable traders have a developed "feel" for the market, an instinct. They know to zig when others zag.

Skunny could spell out his rules for us to the letter, the only problem (for us) being that HE knows when to follow them and when to break them, and that's my point.
  • #932
  • Jan 2, 2008 8:06am Jan 2, 2008 8:06am
Quoting Skunny
Ok, I'm done for the day, I'm off to jury duty (hang'em)

I did work today from 4am-7am CST. So don't call me lazy. I cleared an amazing 37 pips during this very volatile market(not).

And oddly enough, it was done without indicators and I traded 100%. So, it is possible....lol.

Sometimes you only get little tiny trades

Man, that is SWEET... Can it truly be THIS SIMPLE?? I guess so...

Hey, I haven't seen you post about your dad since Christmas or so (unless I missed it?). Praying that things are going well there for you and your family.
  • #933
  • Jan 2, 2008 8:36am Jan 2, 2008 8:36am
Skunny,
I would like to ask you and maybe others would like to also ask this (maybe it has been asked and I missed it), but when you guys take a trade from P/A and fibs can you post a picture of it. If this thread is not the place, maybe another thread can be started just for that. As they say, a picture is worth a thousand words (really much more) and it really helps me to see things that otherwise I might not have noticed, just like you showed me Skunny on that Euro trade a few pages back. Of course, no indicators should be on the chart, but it would also be nice for the trader to tell us other factors that lead him to taking the trade other than just the picture. We are all told we should have several reasons for taking a trade so that might be a help as well. (reasons based on price action,s/r levels and fibs only)

Am I asking too much??? I know you said we shouldn't be trading this method but seriously Skunny, there is so much knowledge in this thread, I don't think that most of these traders are beginners. If I am out of place to ask this, then I concede.

Let me know, and in the spirit that it is better to ask forgiveness than permission, here is a trade I took. BTW...as I looked at this chart at this exact moment price has reached the ultimate target and more. WOW is all I can say.


Daniel
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  • #934
  • Jan 2, 2008 8:38am Jan 2, 2008 8:38am
Quoting Skunny
The question always seems to be.....why don't "systems" work the same for everyone?

Anyone want a go at this one? Or are you understanding now?

If you can learn how to trade, any system will work for you!

If you learn how to trade indicators, you know how to trade indicators. ( no offense to the indicator traders)

Switching from system to system looking to find some indicator that let's you off easy will end your trading career in the process.
Bravo! I am a two month old trader. I blew my first account following indicators and having poor money management.

I am 30% away from recovering the 1st account with my 2nd. Up until recently I was that person switching from system to system looking to find some indicator that let's me off easy. Intrinsically I knew that trading - real trading had to be more than just following an indicator. A monkey could do that.

When I profit, I am not following indicators - only previous day hi\low, weekly, monthly trend and S/R... which really aren't indicators at all in my opinion as there really is nothing predictive about them - rather only represents what is really there without the ability to manipulate the periods or numbers to fit my bias. A week ago I had 9 different indicators at once not even knowing what each one did. I was just looking for an easy buck without having to think... alert goes off, trade no matter what. I lost and lost big this way.

I am not saying I have "arrived." On the contrary, I need to be schooled and I need to be taught. I haven't figured it out at all, but I feel like I have eliminated one more way not to trade. We are intelligent people and I wonder what would happen if we trusted our intelligence rather than punting it for an indicator - or in my case, 9 indicators. I am excited to see what is going to happen in this new year.

I have learned so much from ForexFactory and you all. Thanks!
  • #935
  • Jan 2, 2008 8:38am Jan 2, 2008 8:38am
You really didn't think we wouldn't trade this after we started seeing the big picture did you????:surprised

Daniel
  • #936
  • Jan 2, 2008 8:54am Jan 2, 2008 8:54am
Hi Skunny, hi all.
Reading in silence, running VHands forever, checking, watching, having fun!
And today I just tried it (small lot size though) and maybe I'm nuts and completely nuts - like sizzler? - but it worked fine for me and made me 136 pips.
Happy New Year guys... I'm having fun here and learning like crazy!

You guys are great! And thanks to you my year started with a bang... love it!
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"The only successful substitute for brains is silence."
  • #937
  • Jan 2, 2008 9:06am Jan 2, 2008 9:06am
I guess I got my answer!

Good way to start off the new year!

Man, if this breaches that 219 neckline, we're in for a ride!
  • #938
  • Jan 2, 2008 9:46am Jan 2, 2008 9:46am
Jury duty postponed til feb. LOL

I was looking forward to the hang'n. JK I would have been fair and impartial
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  • #939
  • Jan 2, 2008 9:49am Jan 2, 2008 9:49am
Quoting blueruby
I guess I got my answer!

Good way to start off the new year!

Man, if this breaches that 219 neckline, we're in for a ride!
You got your answer huh? Do you want me to post a chart on that move or is it too late? Hindsight ya know, it's 20/20 LOL.
Robonacci com
  • #940
  • Jan 2, 2008 9:55am Jan 2, 2008 9:55am
Quoting 4X4EVER
Skunny,
I would like to ask you and maybe others would like to also ask this (maybe it has been asked and I missed it), but when you guys take a trade from P/A and fibs can you post a picture of it. If this thread is not the place, maybe another thread can be started just for that. As they say, a picture is worth a thousand words (really much more) and it really helps me to see things that otherwise I might not have noticed, just like you showed me Skunny on that Euro trade a few pages back. Of course, no indicators should be on the chart, but it would also be nice for the trader to tell us other factors that lead him to taking the trade other than just the picture. We are all told we should have several reasons for taking a trade so that might be a help as well. (reasons based on price action,s/r levels and fibs only)

Am I asking too much??? I know you said we shouldn't be trading this method but seriously Skunny, there is so much knowledge in this thread, I don't think that most of these traders are beginners. If I am out of place to ask this, then I concede.

Let me know, and in the spirit that it is better to ask forgiveness than permission, here is a trade I took. BTW...as I looked at this chart at this exact moment price has reached the ultimate target and more. WOW is all I can say.


Daniel
I appreciate you wanting to start a trade thread, however it is too dangerous to do. I want to wait until more people have had the time to adjust their trading to no indicators. You can't just start a thread in a forum with trade calls. The loonies will be running wild all over it rendering the thread useless (like many others). There is a methodical way to get this done without ruining the integrity of what's being taught. I just haven't crossed all the "t's" yet. (work in progress).
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