Indicator Free Trading - Skunny | Page 91 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

How to free indicator resources? indicator called from EA 7 replies

COT trading system with free indicator 297 replies

No Free Lunch but all the Free Coffee you can drink 736 replies

SWAP free, rollover free Broker? 15 replies

Attachments: Indicator Free Trading - Skunny
Exit Attachments

Indicator Free Trading - Skunny

  • #1,801
  • Jan 12, 2008 10:18pm Jan 12, 2008 10:18pm
Quoting sizzler
you and me both! I am making it up as I go along

here is how I might draw lines on that same chart these are just hand draw lines nothing fancy. I just look to make pretty triangles. the top has a semi established angle so i match it on the bottom. I might try to bisect it with a SR line like 1.9550 or something... might not. it doesn;t feel perfect to me but a different point of view maybe.

Skunny said to rip Gann lines on 1H GU normal setting so try that I guess? I guess gann lines only need one point.


also living in thaland? Awesome.

Sizz

EDIT

Dagoods... your lines are making me nutso!!! my ocd is going crazy!! hehehe slooooow down just for fun try using the two highs on the red and draw a line on that angle as far as the green...you are a maniac!!! hehehehe

also what are all those arrows everywhere?


ignore those "arrows" sizz they are meaningles..just got there but accident.... also.. THIS IS ONLY AN EXPERIMENT.... check your ocd i will share results (if any) i promise.....

also Sunny post 1779 may be a very important clue as to when to move fibs???? Dont move until TL is broken? until penetrated? maybe? i dont know

on the other hand maybe not? Skunny????

furhtermore... I'm sorry if I confused you or anyone else


lets remember we Keeping it simple ...i didnt mean to through out any curveballs....just experimenting thats all..... hope thats ok

and finally i couldnt resist this

Man on Computer: Who are you?
Fletch: Hello, I'm Peter Lemon-Jello and they told me to tell you your house is on fire.
Man on Computer: Thank you!! Good bless you!!
Fletch: [to himself] Thank you for beliving this shit!
  • #1,802
  • Jan 12, 2008 10:24pm Jan 12, 2008 10:24pm
Quoting sizzler
Good question... I think he started a thread(someone search it?)... I haven;t talked to him in forever... last I read he had purchased some new EA?? could be the grapes talking. He is missed.


Sizz.


Sun define prominent... hehehe kidding but you see what I am driving at.
Found him... he's in the politics now
http://www.forexfactory.com/showthre...38#post1790838
"The only successful substitute for brains is silence."
  • #1,803
  • Jan 12, 2008 10:25pm Jan 12, 2008 10:25pm
Quoting dagoods
ignore those "arrows" sizz they are meaningles..just got there but accident.... also.. THIS IS ONLY AN EXPERIMENT.... check your ocd i will share results (if any) i promise.....

also Sunny post 1779 may be a very important clue as to when to move fibs???? Dont move until TL is broken? until penetrated? maybe? i dont know

on the other hand maybe not? Skunny????

furhtermore... I'm sorry if I confused you or anyone else


lets remember we Keeping it simple ...i didnt mean to through out any curveballs....just experimenting thats all..... hope thats ok

and finally i couldnt resist this

Man on Computer: Who are you?
Fletch: Hello, I'm Peter Lemon-Jello and they told me to tell you your house is on fire.
Man on Computer: Thank you!! Good bless you!!
Fletch: [to himself] Thank you for beliving this shit!

Oh man dg,

I am dowloading Fletch tomorrow.. all of them. and spies like us AND lampoons vacation. . Experiment away I personally love it. The more out there the better that how new things happen.


Sizz.
  • #1,804
  • Edited Jan 13, 2008 5:44am Jan 12, 2008 10:44pm | Edited Jan 13, 2008 5:44am
I am out for you not in the EST( where is it 1:40 am) post a bunch of charts so we can dig into them. UY GU EU EJ GJ I think... the masses voted against the USD/SEK.... everyone hates on the kroner... my fave is USD/NOK ...mmmm...lingonberries and lutefisk...er..what ...bed time for bonzo!


Sizzzzzzzzzzzzzzzzzzzzzzzzz



hey dagoods you made me think of this talking about charts and outcomes...

well.. I think we both are impatient BUT what if we post vhands set ups.. then the resultant chart ...kind of before and after.. er exactly like that..

no waiting for 8-10 days for certain setups to play out, no danger of people trading them, acclerated foruming and idea germination. Old charts are just as valid as new charts if done on vhands.

the only reason to do forward testing would be to prove predicitivity IMO which I think has been proven.

if anyone goes ahead in vhands then backdraws a chart they only hurt themselves and everyone else still benefits like normal... so seems like cheers all around?

we could burn like a million examples a day and really accelerate things in a public sense and get a massive amount of tests done on ideas... like well like a farm of mind computers processing data.



I have been having issues with vhands so I have to fix mine then I am down if everyone else thinks it is good. I love this idea the more I think about it. Lt. Bluereguard's thread better be sweet at helping or I am asking here hehe

thoughts?
  • #1,805
  • Jan 13, 2008 12:28am Jan 13, 2008 12:28am
Quoting Skunny
You either need to scale your chart or scale your tool for the chart.

Did I make any sense?
Perfect! This is the way Oh Master of the Forex Universe. Lead on!

Kathy
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #1,806
  • Jan 13, 2008 4:57am Jan 13, 2008 4:57am
Quoting Skunny
CHEATER !!
Where are the squiggly lines?
Sorry, I seem to have misplaced my <<squigglylines.mq4>> indicator. I'd better recover it quick though, I hear that's what all the big institutional traders are using these days...
  • #1,807
  • Jan 13, 2008 6:30am Jan 13, 2008 6:30am
Thanks for pointing us to the radar(s).

Recommend viewing of the movie Peacefull Warrior.
  • #1,808
  • Jan 13, 2008 6:33am Jan 13, 2008 6:33am
Appreciation to Bobokus, Pipskateer, Sizzler, Lowell, and Dagoods.
Bobokus is mooey bodacious. ( Amazing how your son is doing. )
  • #1,809
  • Jan 13, 2008 7:20am Jan 13, 2008 7:20am
Quoting Skunny
Updated chart

the more i re-read the more it seems to start to sink in....but why no fibs on this giant squid homework? i am slow....still working on fibs..... as far as that big ole traingle..... i think i kinda see some stuff..... like triangles within triangles until they so small they have to break out (down in this case) and price needs to break in order to go make a new range because price hates being confined in little tiny triangles like that..... ???? something like that??? seems that way...by the way the more i study the more i think i see that price action really does rule supreme.... a naked chart just watching Price action (PA) and PA alone could have told me where that baby was going next...way before it broke my 0 fib and filled my order.....but in real time its hard to see i guess.....and fibs give nice perfect targets..... i see many places that could have been fibbed on that one that would have yielded better profits..... so teacher forgive....but my homework is not nearly complete yet....

Gann- my problem is this i dont think i could draw them gann lines without a tool to do it for me and even if i did, it would just confuse me right now i think....i'm just being honest ... i need to KISS and simple it up...at least until I get the fib thing down better.... each at his own pace i guess.....

PS MY LINE CHART EXPERIMENT WAS A COMPLETE FAILURE- FIBS DON'T WORK AS WELL ON LINE CHARTS SO DONT WASTE YOUR TIME EVERYBODY (leave that to me lol)

Wedgies: studying them...is it chart patterns that you are teaching us? or just this particular chart pattern? is it rising wedges = bull and falling wedge = bear???? are these harmonic patterns? how does one fib a rising wedgie? How does one fib a falling wedgie? how does one fib a triangle?

I still dont know how to "walk a fib" so........... i dont want to be spoon fed... I really dont...oh ok yes I do a little bit...but i truly appreciated how much more it sinks in when i go back and re-read and study it myself.....BUT sometimes i get nowhere and just end up with more and more questions instead of useable rules...and then i try to fill in the blanks with my own creativity and just confuse all the good people on the thread (not my intention) so please forgive...anyway.... looking forward to more

I hope I at least entertained you all a little bit? I know sizz did...if you haven't been entertained by sizz then you are il morte....

I noticed some of my questions made it to the summary...so maybe its good I'm such a pest and keep asking questions?

looking forward to the next challenge and hoping for a bit more direction

yours truly

Irwin Mahatma Fletcher
  • #1,810
  • Jan 13, 2008 7:46am Jan 13, 2008 7:46am
Quoting sizzler
Sun define prominent... hehehe kidding but you see what I am driving at.
Sizz.

I would define prominent as 2 or more. Can't be any more prominent than that. Doesn't say 3 or more.
  • #1,811
  • Jan 13, 2008 8:30am Jan 13, 2008 8:30am
Quoting SunTrader
One of the basis tenets put forth by Charles Dow in the Dow Theory is that security prices do trend. Trends are often measured and identified by "trendlines" A trendline is a sloping line that is drawn between two or more prominent points on a chart.

From Technical Analysis from A to Z, by Steven Achelis
2 points are 2 points and provide for a false trend line more often than not and shouldn't be traded. The Skunny Theory.
Robonacci com
  • #1,812
  • Jan 13, 2008 8:35am Jan 13, 2008 8:35am
Alright here is a random before and after chart.

I mixed some bullish pennant into it but long story short it worked like a charm. Pip perfect. This is a trade i could/would take all day long. I completely understand it. this is so easy and tight IMO a plus trade not a ton of pips but I will dipped in in.. molasses if it isn't a beauty.

I would set a stop right below the red tl after the pierce which i would buy on close of bar, sweetness. everything about this trade makes me happy.


I am off to brunch to make my pants tight with delicous and maybe a bloody buddy who knows.

. ttfn


Sizz
Attached Image(s) (click to enlarge)
Click to Enlarge Name: before.png Size: 42 KB
Click to Enlarge Name: After.png Size: 65 KB
  • #1,813
  • Jan 13, 2008 9:11am Jan 13, 2008 9:11am
Right, I've had a day away from my 'puter and have just read up on the last dozen pages of this thread and I'm thinking that we are catching onto the same idea:

On Friday morning I posted: "Now here's a hypothesis. We are already understanding levels where price will most probably stop once a move has been triggered - as seen from the recent charts.

If we then can add an accurate sloping line, then its intersections with the price line will project the time at which that price should be reached.

Now that would be a 10,000 watt light bulb."

From Skunny earlier today: "The Gann lines can give you a better guesstimate of time to price. But not always!"

Pipskateer #1774 and Sizzler #1795 amongst others are following this line of thinking.

It has also been stated that an accurate Gann line should continue to be useful for some considerable time.

Skunny also said to start with a 1 hour GU chart with the standard setting for Gann lines - i.e. +/- 1.0 - so I did some work with that and discovered some interesting things as as I started working backwards and out to a higher TF.

I'll leave you guys to have a go at working out the relationships for different TFs and will leave my latest thoughts until my next post and my ideas about Skunny's "not always- until after a little essential brain lubrication - with a little help from my friend Don San Miguel!

Here's the 1hour GJ with a Gann Line that started with the high on July 20th and caught the low of October 22 before coming back into play on this chart in late November and again this last week.

I think this is the "Anchor Line" from which to start a selection of current "active" Gann Lines.
Attached Image (click to enlarge)
Click to Enlarge Name: jan 13 1 hr gann.gif Size: 11 KB
Trading Levels with WRBs
  • #1,814
  • Jan 13, 2008 9:25am Jan 13, 2008 9:25am
Quoting Skunny
2 points are 2 points and provide for a false trend line more often than not and shouldn't be traded. The Skunny Theory.
It's your thread and you are entitled your opinion. But for the sake of the record I thought I'd mentioned it and for those who might be misconstrue that it was only my opinion is why I quoted from a trading book.

Many look for additional confirmation once a 3rd point has touched. Only thing is sometimes a 3rd touch doesn't happen.
  • #1,815
  • Jan 13, 2008 9:55am Jan 13, 2008 9:55am
Quoting Skunny
2 points are 2 points and provide for a false trend line more often than not and shouldn't be traded. The Skunny Theory.
Skunny is trying to keep things simple to help you (KISS), so forgive me for adding something more complex. Please don't get stuck on over analyzing this stuff I have provided, what Skunny is teaching is far more important for live on the spot trading. Bulkowski wrote a couple of great books (and expensive) on trading chart patterns. These are written for stocks, not forex, but some of the broader principals apply. Regarding TL's I have attached a page out of the book: Trading Classic Chart Patterns by Thomas N. Bulkowski from Wiley Trading Publishers. This page covers TL spacing and touches. There are several other areas of statistical viability: TL length (longer is better), TL Angle (flatter is better), TL Volume (less volume is better when the line is about to break- don't confuse this with market speed. i.e. when there are less traders who believe a position is bullish then the bearish traders win out when the TL breaks. Study the PA on vHands and you will see this happen when the areas of support are breached.

Thanks Skunny - a great thread.
Attached Image (click to enlarge)
Click to Enlarge Name: Bulkowski_TL_Touches.jpg Size: 297 KB
  • #1,816
  • Jan 13, 2008 9:59am Jan 13, 2008 9:59am
SunTrader - I was preparing my post above and did not see your reply before posting. The info I provided was in no way meant to be a rebuttal of your post. Hope it helps - see ya
  • #1,817
  • Jan 13, 2008 10:07am Jan 13, 2008 10:07am
Quoting PiPr Pro
SunTrader - I was preparing my post above and did not see your reply before posting. The info I provided was in no way meant to be a rebuttal of your post. Hope it helps - see ya
The only thing further I would add is that Bulkowski's studies seem to reference daily and/or weekly timeframes. Does he look for and does his statistics bear out the same on shorter timeframes?
  • #1,818
  • Jan 13, 2008 10:31am Jan 13, 2008 10:31am
Quoting SunTrader
The only thing further I would add is that Bulkowski's studies seem to reference daily and/or weekly timeframes. Does he look for and does his statistics bear out the same on shorter timeframes?
You are correct his studies are all daily and above, and that is why I made the statement "These are written for stocks, not forex, but some of the broader principals apply."

His general principals work on lower timeframes. For example, if you have a trend line greater than 60 degrees it is far less likely to produce as many pips as a more horizontal TL that is broken. See ya.
  • #1,819
  • Jan 13, 2008 10:31am Jan 13, 2008 10:31am
hey sizz along the lines of thinking of your last chart ...would you agree with my fib placement here on gj? anyone? anyone? buehler? buehler?
Attached Image (click to enlarge)
Click to Enlarge Name: gjsk.gif Size: 12 KB
  • #1,820
  • Jan 13, 2008 10:32am Jan 13, 2008 10:32am
Quoting SunTrader
It's your thread and you are entitled your opinion. But for the sake of the record I thought I'd mentioned it and for those who might be misconstrue that it was only my opinion is why I quoted from a trading book.

Many look for additional confirmation once a 3rd point has touched. Only thing is sometimes a 3rd touch doesn't happen.
Dunno what's "right", "wrong" or "politically correct" here....but to me, it makes logical sense that one could draw a connection arbitrarily between any two points of visual significance on a chart. I would define that as a simple "line" drawn between two points. That would not, IMWO, be indicative of anything beyond the space between the two specific points. When there was a third touch of that same extended line, a repetitive price action could then be said to have occurred...a trend.

If the third touch never occurred then I think that is self-defining....not a trend.

Just my 2 pips...
1 trader viewing now