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Indicator Free Trading - Skunny

  • #1,121
  • Jan 4, 2008 8:41pm Jan 4, 2008 8:41pm
Quoting Skunny
REMEMBER PEOPLE I didn't start this thread to give you everything I have compiled. I started this thread in the discussion area for a reason. I want to help people learn how to learn. Nothing more......Nothing less. But in the process I've recklessly unleashed some extremely valuable information that if it took you 3 years to figure it out on your own, it would all be worth it IMO.

( no negativity intended)

Hi Skunny! I just silent reader of your thread coz my English stop me often.
After reading carefully all your posts and playing with vhands couple days all I can say is BIG THANKS for all your effort to help people like me survive this
amazing game named FOREX.
  • #1,122
  • Jan 4, 2008 9:06pm Jan 4, 2008 9:06pm
Quoting piphitman
Regarding hedging.....here is a chart of what I did last night on the EUR/GBP 1hr. I traded this pair the other night very nicely so I went back to the well again on this pair. I plotted my fibs off of a high and a doji low, saw the break after the doji to the upside so I took the "BUY" trade, set my TP @ .7490.....

Things only went downhill from there. I saw it get all the way down to the other end and then I cancelled my order. Then I placed another "SELL" order @ .07463. I manually watched this trade after it hit the lower 138 because it went completely the other way on me earlier, I made a little better than the 138 tp then closed the trade.
I was not too surpised this morning when I got up and saw that it had started to go back the other way so I placed another "BUY" trade again after it came back up the other way and took tp at the 138. I think I was about break even overall on that trade after taking my loss on the first trade.

I wish I wasn't so spooked after that inital backfire cuz man-o-man I wish I had the nads to ride that short all the way down where it went.......too much of a scaredy cat...
Sorry I didn't see your chart before

I haven't studied that pair but,the candle you entered on looks like it was from a news announcement or just bad data (mt4 is notorious for). Anyway that candle had way way way way too much movement to enter a trade on and there was too many candles in between your fib range, creating more ranges you needed to be aware of anyhow. Hope that helps.
Robonacci com
  • #1,123
  • Jan 4, 2008 9:07pm Jan 4, 2008 9:07pm
Quoting viat
Hi Skunny! I just silent reader of your thread coz my English stop me often.
After reading carefully all your posts and playing with vhands couple days all I can say is BIG THANKS for all your effort to help people like me survive this
amazing game named FOREX.
Thanks Viat, I understood you perfectly
Robonacci com
  • #1,124
  • Jan 4, 2008 9:08pm Jan 4, 2008 9:08pm
Nighty night.........zzzzzzzzz
Robonacci com
  • #1,125
  • Jan 4, 2008 9:13pm Jan 4, 2008 9:13pm
Quoting Skunny
Nighty night.........zzzzzzzzz
As we all sit in the nursery with the lights off wishing you could read us just one more story...

I've been sitting there staring at cable all evening on the H1 from Jan 2 to today, with 4 sets of fibs trying to make sense of....whatever it was I originally set out to do.
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #1,126
  • Jan 4, 2008 9:19pm Jan 4, 2008 9:19pm
Quoting Thexder
As we all sit in the nursery with the lights off wishing you could read us just one more story...

I've been sitting there staring at cable all evening on the H1 from Jan 2 to today, with 4 sets of fibs trying to make sense of....whatever it was I originally set out to do.
Did I forget to tell everyone to trade and test sober? Put down the wine Thex, it's time to go nighty night......zzzzzzz
Robonacci com
  • #1,127
  • Jan 4, 2008 9:32pm Jan 4, 2008 9:32pm
Quoting Skunny
Fibo the dog...lol, I like it

Good boy Fibo!
He's a bird dog ya know.... Training him to hunt........moley quail... dem's good eetn!

SICK 'em FIBO!!
  • #1,128
  • Jan 4, 2008 9:45pm Jan 4, 2008 9:45pm
Quoting Skunny
I'm not sure I understand you I talk in cycles?...lol. I'm also glad you are willing to still learn here.

Did I allude to trading with no stop losses? Where did I do that?

Who is "the best"?

Did you have all the possible ranges drawn out on your chart?

Are you sure the head and shoulders wasn't a result of a previous cycle failing and then rallying to complete?

Why do I have more questions than you?

If you enter a trade that risks more than 10% of your acct you're insane IMO. There isn't any reason to risk more. If you are in a large enough trade where you stand to lose a lot if it goes bad, you best better be trading it backwards to cut your loss. You just cant enter a trade and say well I'll either make 500 pips or lose 1500, you need to make 500 pips and in the process make another 700 while you do it.

If it was incredibly easy to know what cycle, or A cycle, based on peaks and valleys I'd post a chart like this and make you a millionaire tomorrow.

You need to learn by practice just like I did.

REMEMBER PEOPLE I didn't start this thread to give you everything I have compiled. I started this thread in the discussion area for a reason. I want to help people learn how to learn. Nothing more......Nothing less. But in the process I've recklessly unleashed some extremely valuable information that if it took you 3 years to figure it out on your own, it would all be worth it IMO.

( no negativity intended)
Skunny...I heard Andy Rooney (from 60 minutes) voice when I read your response...lol
  • #1,129
  • Edited 10:43pm Jan 4, 2008 10:24pm | Edited 10:43pm
Piphitman,

EDIT : I am an wine soaked idiot maybe I should actually read the post and check for comprehension sorry I am 100% off base maybe 1000% my bad. hahahaha what a heehaw I am. hahahaha how embarassingly stupid oh well chalk it up Sizz's big book of Dur. G'night


this post is in the context of PA to dbl check your fib


Dear god man... you bought this? Holy snakes j/k

. Look at that chart all I see is SELL ME> SELL ME FOREVER!!! er see that candle floating in nowhere just hanging out... on the 1H look to the 15M

15M says : Sizz sell me and never stop!!! at about .7485 we are small on that chart for a nice slow EURGBP scalp. at the break of the line where the bull got killed by DA BEARS! Ditka always wins though

( tangeant warning: this is a sweet D1 PA trade pair if that is your thing slow reliable and channelly. . end of tangeant)

Look at the chart. Check your pa before rocking your F.I.B(IMO) good thing it was on the eeyore of currency pairs not the roadrunner the geppy is.

hope this helps you somehow.

4x4E

edit I had this typed wayyyy earlier and for to ramble with until just recently looks like tis has already been covered

Who cares what the best say... the best said the world was flat best
said no space travel... the best said no man on moon earth flat yada yada
question everything my man. don;t take anyones word with out vetting it out yourself but for the purposes of this thread you have to work under the theory they are 100% accurate otherwise what is the point? what are you testing?



Sizz
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp15m.gif Size: 17 KB
  • #1,130
  • Jan 4, 2008 11:40pm Jan 4, 2008 11:40pm
sizz,

after reading skunny's post and your's it is apparent that I was very fortunate to get out of that pair with a break even like I did. Looking back on the 1hr chart I should have had my fibs drawn so that the doji low I was fibbing low off of would have been my short penetration candle (or maybe even the candle before it), and after seeing the 15 minute you posted and on my chart you're right.....on the 15 min chart the .7485 area was a 138 hi..............
trading naked.......
  • #1,131
  • Jan 5, 2008 12:42am Jan 5, 2008 12:42am
Quoting sizzler
EDIT : I am an wine soaked idiot maybe I should actually read the post and check for comprehension
Sizz

See Skunny, it's not just ME using the internet under the influence.
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #1,132
  • Jan 5, 2008 1:59am Jan 5, 2008 1:59am
Don't wanna hijack!

Just thought this would be a great discussion for the members lounge!
Quote
See Skunny, it's not just ME using the internet under the influence.
I bet it would be a great laugh. I've heard some horror stories of peoples drunken e-bay bidding!
Carpe Divitiae
  • #1,133
  • Jan 5, 2008 6:37am Jan 5, 2008 6:37am
Quoting sizzler
Piphitman,

EDIT : I am an wine soaked idiot maybe I should actually read the post and check for comprehension sorry I am 100% off base maybe 1000% my bad. hahahaha what a heehaw I am. hahahaha how embarassingly stupid oh well chalk it up Sizz's big book of Dur. G'night


this post is in the context of PA to dbl check your fib


Dear god man... you bought this? Holy snakes j/k

. Look at that chart all I see is SELL ME> SELL ME FOREVER!!! er see that candle floating in nowhere just hanging out... on the 1H look to the 15M

15M says : Sizz sell me and never stop!!! at about .7485 we are small on that chart for a nice slow EURGBP scalp. at the break of the line where the bull got killed by DA BEARS! Ditka always wins though

( tangeant warning: this is a sweet D1 PA trade pair if that is your thing slow reliable and channelly. . end of tangeant)

Look at the chart. Check your pa before rocking your F.I.B(IMO) good thing it was on the eeyore of currency pairs not the roadrunner the geppy is.

hope this helps you somehow.

4x4E

edit I had this typed wayyyy earlier and for to ramble with until just recently looks like tis has already been covered

Who cares what the best say... the best said the world was flat best
said no space travel... the best said no man on moon earth flat yada yada
question everything my man. don;t take anyones word with out vetting it out yourself but for the purposes of this thread you have to work under the theory they are 100% accurate otherwise what is the point? what are you testing?



Sizz

Hey Sizz....that one idicator I mean thing you have on your chart...I love it. The one that shows the price in the lower left hand corner. Where can I find it?

Thanks
  • #1,134
  • Jan 5, 2008 8:51am Jan 5, 2008 8:51am
Quoting Skunny
I'm not sure I understand you I talk in cycles?...lol. I'm also glad you are willing to still learn here.

Did I allude to trading with no stop losses? Where did I do that?

Who is "the best"?

Did you have all the possible ranges drawn out on your chart?

Are you sure the head and shoulders wasn't a result of a previous cycle failing and then rallying to complete?

Why do I have more questions than you?

If you enter a trade that risks more than 10% of your acct you're insane IMO. There isn't any reason to risk more. If you are in a large enough trade where you stand to lose a lot if it goes bad, you best better be trading it backwards to cut your loss. You just cant enter a trade and say well I'll either make 500 pips or lose 1500, you need to make 500 pips and in the process make another 700 while you do it.

If it was incredibly easy to know what cycle, or A cycle, based on peaks and valleys I'd post a chart like this and make you a millionaire tomorrow.

You need to learn by practice just like I did.

REMEMBER PEOPLE I didn't start this thread to give you everything I have compiled. I started this thread in the discussion area for a reason. I want to help people learn how to learn. Nothing more......Nothing less. But in the process I've recklessly unleashed some extremely valuable information that if it took you 3 years to figure it out on your own, it would all be worth it IMO.

( no negativity intended)
Well you certainly have made me learn and I appreciate all you've done. I couldn't possibly put into words how grateful I am. I see many more trading opportunies, there are everywhere. And yet there's still much more to learn.

The GU chart you posted here shows all of what you consider to be s/r locations right? And I've been meaning to ask what what's the significance of the green candles?

Thanks again.
PipHunter
  • #1,135
  • Jan 5, 2008 9:03am Jan 5, 2008 9:03am
Quoting Pip Hunter
Well you certainly have made me learn and I appreciate all you've done. I couldn't possibly put into words how grateful I am. I see many more trading opportunies, there are everywhere. And yet there's still much more to learn.

The GU chart you posted here shows all of what you consider to be s/r locations right? And I've been meaning to ask what what's the significance of the green candles?

Thanks again.
NO,No,No The chart I posted was an indicator (that repaints live) the end result you see is representative to only some s/r areas and it has no bearing on trading IMO.

So please don't analyze that chart for anything, I was just trying to make a point. LOL But it does represent the idea from afar.....I guess.

PS Your welcome, I'm happy to see it helps
Robonacci com
  • #1,136
  • Jan 5, 2008 9:05am Jan 5, 2008 9:05am
Quoting Pip Hunter
Well you certainly have made me learn and I appreciate all you've done. I couldn't possibly put into words how grateful I am. I see many more trading opportunies, there are everywhere. And yet there's still much more to learn.

The GU chart you posted here shows all of what you consider to be s/r locations right? And I've been meaning to ask what what's the significance of the green candles?

Thanks again.
Oh yeah, and the green candles are doji (or candles that are confused and decided to close where they opened).
Robonacci com
  • #1,137
  • Jan 5, 2008 9:11am Jan 5, 2008 9:11am
Quoting piphitman
sizz,

after reading skunny's post and your's it is apparent that I was very fortunate to get out of that pair with a break even like I did. Looking back on the 1hr chart I should have had my fibs drawn so that the doji low I was fibbing low off of would have been my short penetration candle (or maybe even the candle before it), and after seeing the 15 minute you posted and on my chart you're right.....on the 15 min chart the .7485 area was a 138 hi..............
Like anything else, just because you didn't enter like you should have, doesn't mean it won't work out. The price needs to go up or down, the way I see it, even if you haven't a clue you still have a 50/50 chance
Robonacci com
  • #1,138
  • Jan 5, 2008 11:25am Jan 5, 2008 11:25am
Can someone please advise as to how this should be played - should fibs be moved when Extension 61.8 is hit.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: fib action 3.gif Size: 25 KB
Click to Enlarge Name: fib action 5.gif Size: 35 KB
Click to Enlarge Name: fib action 6.gif Size: 24 KB
“A setback is a setup for a comeback.”
  • #1,139
  • Jan 5, 2008 11:58am Jan 5, 2008 11:58am
There has been one thing that I've noticed while using this method. I enter on the penetration, the 38 and 61 if it retraces back that far. What I see more than not is that once it penetrates it has a very good chance of going back to the 38 and a lot of time the 61. I'm spending my weekend trading vhands and instead of entering on the penetration and having the big drawdown, I'm going to go counter the penetration with a target of the 38 and using a very tight sl. I'm going to be testing it on the 1 hour. The consistent drawdown of the initial entry of the penetration is what got me thinking about this, I have no problem with drawdown but if it's consistent than why not take advantage of it.

I hope I made sense with what I just said.
  • #1,140
  • Jan 5, 2008 12:24pm Jan 5, 2008 12:24pm
Quoting RBing
The consistent drawdown of the initial entry of the penetration is what got me thinking about this, I have no problem with drawdown but if it's consistent than why not take advantage of it.
Another thing to think of as a possibility to offset drawdown of a 0/100 break is to see if there's a shorter length cycle breaking out in the same direction such as a clear fib that could be pulled within a day time frame while the main cycle spans several days. If there is a setup within the day it could be traded to its extensions which may lay somewhere just inside the bigger break out, and the activity can be monitored from the shorter cycle trade to decide if it's time to reverse or stay in and have an early entry with no draw down. In other words fib scalping within a day with the potential to convert to a larger break out if it coincides. I'm going over the last few months trying to observe it.
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
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