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Indicator Free Trading - Skunny

  • #2,021
  • Jan 15, 2008 11:26am Jan 15, 2008 11:26am
Quoting sizzler

I think that TOD time of day is moot. Price is going somewhere and whatever session moves is there finally is fine with me. even if it is frankfort or sydney. IMO IMO IMWO

Sizz
Goes without saying that certain markets offer better momentum to drive price action along, but in the greater scheme of things, these targets ARE getting hit if the fibs are drawn correctly. I usually evaluate my fib placements after the close of the NY session and plan my next trades. Sometimes targets are hit during UK or NY and sometimes during the Asian session. Beyond that, I prefer not to add any more "what if?" thought lines into the equation to cloud my brain.

Now....having said that, we currently have a very useful tool with fibos and PASR which can tell us where price is most likely to go. There have been hints of the potential of using Gann lines to give us a projection of WHEN price may hit the fibo targets we plot. If we can solidify that facet of our trading, I can't think of anything MOLIER, can you??
  • #2,022
  • Jan 15, 2008 11:37am Jan 15, 2008 11:37am
Quoting sizzler
Hey Daniel!

they are a big deal.

I am posting a chart to show what I mean.

I might( and did for second) take the blue a short call. I fibbed it right or wrong that way originally


if I had gone short I would be eaten alive. Now I see a potential upside of 2.0275 that is like an 800 pip potential difference !! then I scaled out...

So I fib my charts and look for it so I don't end up with a short blue fib in a long market basically so to speak hehe pay attention to them see how they react for you in testing.

Sizz

when I was all zoomed up my blue fib had a 0 level 2 to 3 bars to left of that spike making the spike a pierce and making the fib short IMO>

also that blue fib did not work out pip perfect so it was still wrong OR the cluster gave it static being such a strong sr threw it out of wack and caused slop by a few pips hmm

Hey Sizz,

i was looking at your posted chart but could not figure out why the red fib is where it is. I don't see clear s/r at its 0 line. Care to put in the batteries and push the button ?? Sorry for staring, lol.

LL
  • #2,023
  • Jan 15, 2008 11:38am Jan 15, 2008 11:38am
Quoting ianf0ster
Hi Islander,
Are these Gann lines drawn beofre or after the 138 is hit. If before, that is great - but why did it start at the 23.6% ?

Thanks,
Ian
The way I am seeing things is like this. The lines have a fixed angle and I'm using several different ones to allow for different market conditions for intra day moves - i.e. the velocity of the move. Once a move has got past the 50% level I'll start looking to see which lines might define a target when drawn from a high or low and having a least one other touch. Here, it was the low that happened by the 23.6 level that looked like a valid start and later it did get one touch - and the blue line is the "master" line.

This is very much work in progress and like we can draw fibs from different starting an finish levels, the lines are the same with two variables.
Trading Levels with WRBs
  • #2,024
  • Jan 15, 2008 11:46am Jan 15, 2008 11:46am
Quoting Pipskateer
Goes without saying that certain markets offer better momentum to drive price action along, but in the greater scheme of things, these targets ARE getting hit if the fibs are drawn correctly. I usually evaluate my fib placements after the close of the NY session and plan my next trades. Sometimes targets are hit during UK or NY and sometimes during the Asian session. Beyond that, I prefer not to add any more "what if?" thought lines into the equation to cloud my brain.

Now....having said that, we currently have a very useful tool with fibos and PASR which can tell us where price is most likely to go. There have been hints of the potential of using Gann lines to give us a projection of WHEN price may hit the fibo targets we plot. If we can solidify that facet of our trading, I can't think of anything MOLIER, can you??

Molier hehe... . I agrreee Pip. Time is the last one course i ahve to satisfactorily lock down this one

I have getting hung up charting active UY Care to post what you have so I can compare contrast or visa versa? I am up to my scallions on cable dollar active and doing commodity crosses backwards it is a mess.

the main hang up is the big swing.

I can post( if people agree to it) I have some super sassy non EUGYEJGUUY charts... hehehe or
I will post my actives because " quid pro quo Clarice, quid pro quo!"

Sizz




Sizz
  • #2,025
  • Jan 15, 2008 12:16pm Jan 15, 2008 12:16pm
Quoting Espere
Hey Sizz,

i was looking at your posted chart but could not figure out why the red fib is where it is. I don't see clear s/r at its 0 line. Care to put in the batteries and push the button ?? Sorry for staring, lol.

LL
good question... I will work backwards

Alright Ahhha that was a swing from an earlier fib a walk if you will here is what is looks like i must have modded it after the fact for some reason cluster maybe? revisionist historian? hmm...

Swlow is 1.9583 giving me a 6 pip slip on the spike. mebbe the cluster did it? hmm

You should be glad I am not a CDC scientist.


"What do you mean pandemic virus culture?"

"Yeah the one we gave to you yesterday to study..you know bleeding from the ears, brain swelling, blindness , air borne, super contagious..."

" What? how about noooo you didn't Bob.. you're kidding right?"

" We ,uh Sure did, you signed for it, see, right here"

"hmm... that is ...interesting... you sure that is my sig? hmm.. I will uh have to get back with you uh...later"

hehehe

Sizz
  • #2,026
  • Jan 15, 2008 12:24pm Jan 15, 2008 12:24pm
Sizz,

I gotta UJ chart for ya, I watched the UJ closely last night because it lead the YEN move the other night before all the other YEN crosses so I wanted to make sure I didn't miss the bus last night. I had my hourly chart all ready and then when it came close to the pierce of the low I scaled it out to the 15 min chart and watched it closely from there. After it went up and bounced off the 50 the price action (to me) became more an more apparent that it was going to blast through the 0 and keep going so I entered my short at 1.0741 and TP at the 138.

"duh....we are in the Rockies"
Attached Image (click to enlarge)
Click to Enlarge Name: UJ2.JPG Size: 58 KB
trading naked.......
  • #2,027
  • Jan 15, 2008 12:44pm Jan 15, 2008 12:44pm
Quoting Leonlorenzo
But the question is..... can I choose the points before the fact?

errrmm, Darling....... I think ive got Gannaria .
Leon - it may give you some pleasure to know ..... in one of the world's largest banks, there are several analysts and traders chuckling at your joke I passed on. It helps ease the pain when profits are announced down $XX Billion, dividends are cut and people are being laid off. Thanks for the laugh.
  • #2,028
  • Jan 15, 2008 12:59pm Jan 15, 2008 12:59pm
Quoting sizzler
good question... I will work backwards

Alright Ahhha that was a swing from an earlier fib a walk if you will here is what is looks like i must have modded it after the fact for some reason cluster maybe? revisionist historian? hmm...

Swlow is 1.9583 giving me a 6 pip slip on the spike. mebbe the cluster did it? hmm

You should be glad I am not a CDC scientist.


"What do you mean pandemic virus culture?"

"Yeah the one we gave to you yesterday to study..you know bleeding from the ears, brain swelling, blindness , air borne, super contagious..."

" What? how about noooo you didn't Bob.. you're kidding right?"

" We ,uh Sure did, you signed for it, see, right here"

"hmm... that is ...interesting... you sure that is my sig? hmm.. I will uh have to get back with you uh...later"

hehehe

Sizz

You make it so easy to understand,

thanks a million fibs.

LL
  • #2,029
  • Jan 15, 2008 1:18pm Jan 15, 2008 1:18pm
Quoting Brunite
I said I would take a look at (my) yesterday's result compared to last week. Lowell's idea about retracement level was good and something I am still looking at. But, I think my problem (as dumb as this sounds) is that I forgot exactly what I did that worked so well (weekend away from trading and all...). I was testing a lot of concepts.

Today....much better..... 10 trades.....no losses......9 wins & 1 BE......67 pips on the EJ in 4 hours this A.M. Better yet is the worst that price retraced against me in any of these positions was 7 pips!

I would love to keep going but this is good enough for today.....my business has issues that need attending to. I'll be gone for most of the day.

I am going to run more tests on what I am doing. While quantifiable....there is a lot of PA "feel" going on.....I have logged over 600 hrs of "real" screen time over the last year seeing how price moves. Once I am more "sure" that this "keeps" working, I will throw it out for consideration. I don't want to send anyone on wild goose chases yet. I love the way that the "group" is all looking at things in slightly different ways and from different angles. I think this will really help us all come up with something of value to share with each other.
Thanks for the info Brunite! Keep us updated. I think collectively we can all get what we need to make a living at this by working together!
  • #2,030
  • Edited 1:37pm Jan 15, 2008 1:31pm | Edited 1:37pm
Quoting Espere
You make it so easy to understand,

thanks a million fibs.

LL

hehehe your sarcasm is duly noted and appreciated


Also thank Piphunter... however my concern is that, well hitting your tp it is all smashy like blew right threw it. that gets me nervous. So do sharks if you must know.

Here is my last EJ work chart set up this is what I am looking for on a PIAR (whoa someone switched "pair and am"..keyboard gremlins with dyslexia)for it to be valid a to the pip or close like 1 or less pips. Skunny said it has to be pip perfect or it is wrong.

Do you have one in this size for UY? this I made following a methodology I could repeat day in and day out BUT since UY is kind of rangy I am not doing so hot I found where it WOULD work I just can;t logically make it on the 1 hr. i am sad.

Sizz
Attached Image (click to enlarge)
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  • #2,031
  • Jan 15, 2008 2:27pm Jan 15, 2008 2:27pm
Sizzler, I've noticed you're drawing your fibs differently than I am. I believe Piphitman draws his like I do.

ie In a downtrend I draw my fibs from the low it just reached to the highest resistance retraced from that low. It looks like to me you're drawing your fibs from the low to the retracement of the last low not current low.
  • #2,032
  • Jan 15, 2008 2:52pm Jan 15, 2008 2:52pm
here's my chart showing how I walked that EUR/JPY fib.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY fib walk2.JPG Size: 111 KB
trading naked.......
  • #2,033
  • Jan 15, 2008 2:55pm Jan 15, 2008 2:55pm
Quoting PiPr Pro
Leon - it may give you some pleasure to know ..... in one of the world's largest banks, there are several analysts and traders chuckling at your joke I passed on. It helps ease the pain when profits are announced down $XX Billion, dividends are cut and people are being laid off. Thanks for the laugh.
Hi pipro,

Glad I could spread a little laughter.

Something I would like to bring to the front of your minds for a second.....
Remember way back in the early pages, Skunny mentioned(and posted) the zigzag indicator and some settings, and said 'i may regret giving you that info'. Ive not finished the thread yet as its growing so fast, but since then I have herd no mention of it...... anyone got any idea's?

Before anyone aproaches me and makes me seem stupid, I do understand what the zig-zag is used for, as Ive been happily failing in FX for a couple of years now. Just the way skunny spoke about it made me feel there was a little more to it.

Good trading!

Leon
Living the adventure in my head.
  • #2,034
  • Jan 15, 2008 2:59pm Jan 15, 2008 2:59pm
Quoting RBing
Sizzler, I've noticed you're drawing your fibs differently than I am. I believe Piphitman draws his like I do.

ie In a downtrend I draw my fibs from the low it just reached to the highest resistance retraced from that low. It looks like to me you're drawing your fibs from the low to the retracement of the last low not current low.
Quoting piphitman
here's my chart showing how I walked that EUR/JPY fib.
Finally this issue is getting more attention. I can't count how many times I've posted pictures and questions of the same context that seemed to go ignored. Which swings to place our fibs and where to adjust them after a target has been reached will make the difference between a losing trade and a winning trade. I'm sure anyone that has been backtesting vHands steadily (1 year of History per Skunny) will more than agree with me on this issue.
The market is like the matrix - it is you that must learn to bend
  • #2,035
  • Jan 15, 2008 2:59pm Jan 15, 2008 2:59pm
(I could be wrong but) I don't think skunny was a fan of the zig-zag at all, I think he spanked someone for posting it.........(indicator)
trading naked.......
  • #2,036
  • Jan 15, 2008 3:08pm Jan 15, 2008 3:08pm
Back after my hunting for the post by skunny I was refering to.......

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!!!!!
Living the adventure in my head.
  • #2,037
  • Jan 15, 2008 3:15pm Jan 15, 2008 3:15pm
Quoting RBing
Sizzler, I've noticed you're drawing your fibs differently than I am. I believe Piphitman draws his like I do.

ie In a downtrend I draw my fibs from the low it just reached to the highest resistance retraced from that low. It looks like to me you're drawing your fibs from the low to the retracement of the last low not current low.

...Crap..am I doing it wrong? I could be here is how I am by and large learning so that might be it

I kind of mimic things(skunny's charts) and internalize them and then work through them backwards. it is weird..I work from the inside out it helps to see what it looks like finished for me.

The more correct examples I see I the more I can make mine like that and it gets easier for me. then I try to figure why things are and define a methodology for replication.

My only criteria for these charts is that I have to be pip perfect and I have to be able to logically define with no REAL discretion( IMO experiance is semi different) why I did it

All mistakes failure I have to be able to logically explain or my methodology is flawed.

I am giving the preamble so if mine are funked up you know why hehehe inside out learning. Yesterday Lowell and I chatted and it really made it a great day and I FEEL like I turned a LITTLE corner.


I think it is my fave chart I have posted cept the timon and puumba one It is tight, simple tradeable and I can explain it.

Sizz

no chart dur so beat this chart up let me know what you think. unless it is bad. I am big softy. j/k hehehe please tear it up
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  • #2,038
  • Jan 15, 2008 3:19pm Jan 15, 2008 3:19pm
Quoting Leonlorenzo
Back after my hunting for the post by skunny I was refering to.......
Hi Leon,

I can't find his later posts about it, but the ONLY reason Skunny posted this indicator was to help people start to develop an eye for find S/R on their own. This indicator was in NO way to be part of what he was teaching. It was just a baby-step visual aid to eyeballing S/R...nothing more.
  • #2,039
  • Jan 15, 2008 3:26pm Jan 15, 2008 3:26pm
Quoting Leonlorenzo
Back after my hunting for the post by skunny I was refering to.......
Hi Leon,

i addressed it some time ago and it seems Skunny posted it for Pip Hunter.
please take a look at this post #1406.

LL
  • #2,040
  • Jan 15, 2008 3:29pm Jan 15, 2008 3:29pm
Well I've added Lucasmania to my case of Gannoria mixed with a good dose of Fiibitis!

The mix does seem to be agreeing with me - and the Euro. Theoretical profit taken - just so that I dont get taken to the Headmaster's study for live trading....I think this deserves another glass of Rioja before bedtime.

All of the points shown have a tripple dose of the fore mentioned afflictions.

Edit - and both yellow 132 levels hit, as mentioned earlier.
Attached Image (click to enlarge)
Click to Enlarge Name: jan 14 5m eu lucas etc 2055.gif Size: 17 KB
Trading Levels with WRBs
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