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Indicator Free Trading - Skunny

  • #2,081
  • Jan 15, 2008 10:56pm Jan 15, 2008 10:56pm
Bo's comment:
The fib you are drawing back from the 31st is encompassing previous highs and to continue the pattern with that fib the way you are pulling it , would be at point 4, just before the high your referring to as the target and after that high it becomes point 5.Nothing wrong with it your just looking at as a single swing from the 1 hour timeframe but the more you encompass with it the higher a timeframe you placing the fib into.Place the fib just like it is here on the 1 hour and switch your chart to the Daily without changing anything.

Makes mucho sense.
Thanks again for your thread too.

Looking forward to the workshop.
  • #2,082
  • Jan 15, 2008 10:59pm Jan 15, 2008 10:59pm
Quoting bronxterp
What a beauty!
that UJ was a beauty Bronx, I picked that one up too before I went home from work.
trading naked.......
  • #2,083
  • Edited 11:05pm Jan 15, 2008 10:59pm | Edited 11:05pm
Quoting Bobokus
The fib you are drawing back from the 31st is encompassing previous highs and to continue the pattern with that fib the way you are pulling it , would be at point 4, just before the high your referring to as the target and after that high it becomes point 5.Nothing wrong with it your just looking at as a single swing from the 1 hour timeframe but the more you encompass with it the higher a timeframe you placing the fib into.Place the fib just like it is here on the 1 hour and switch your chart to the Daily without changing anything.
Okay Bo. Here is what I get. A second swing on the daily was completed. Could this be what Skunny is trying to say when looking at higher time frames? Okay. I have done that before. Not as often as I should be, but vHands doesn't allow one to move through larger time periods. Yes I understand that vHands is for learning purposes only, which is what I am honestly trying to do. What puzzles me next is the hedging. A few days back I could of moved my chart to show daily, and realized then I was headed north. So where does taking a short fall into place if the larger period says go north? Not necessarily asking you these questions in hope for answers...but more my thoughts rambling on. Thank you for what you posted Bo. I hope I'm seeing what you wanted me to see? Maybe not, since you mentioned leaving the fibs as is which have nothing to do with a past swing hitting it's target but possibly a new one taking shape?

Bo, I appreciate your input greatly without crossing the boundaries Skunny has put in place. Even in your thread you are always generous in taking the time to answer those presenting their questions.

EDIT: Ok after re-reading your post about 5 times I think this was nothing more than trying to show me how many daily bars my fibs are encompassing. Am I right? geeezz. This is what happens when you trade vHands none stop for a week+. You start losing it
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The market is like the matrix - it is you that must learn to bend
  • #2,084
  • Jan 15, 2008 11:01pm Jan 15, 2008 11:01pm
Quoting GridTrader
Let's be honest with this picture now. How many thought this was a break to the upside? If you look at the chart you'll clearly see an earlier larger swing's target was hit at the level. When I questioned Skunny on an earlier chart of macbow's, asking why he wouldn't of traded long on a particular break, he pointed out "because the previous swing's target was just above that price level".
Personally I am not trading EurUsd, but this chart points out where several people may have traded incorrectly. Now if we need to be aware of each or even all previous swings to see where price is at on the chart as a whole, then the questions begin to arise. When and where to walk the Fibs? Bo is trading exclusively with fibs on his thread. My thought is Skunny is too. He's only analyzing the use of Gann lines. Not necessarily trading with them live.

IMHO.....this is KEY.

This concept is the main component of what I am working on.

I'm on the way (I think) to having cracked the code on "when and where"....more testing will tell.
  • #2,085
  • Jan 15, 2008 11:01pm Jan 15, 2008 11:01pm
Quoting BarneyDog
Ignore the fru-fru in the screens below...just London, New York timeframes and analysis of 5pm-9pm movement, and a 60 EMA. "Spanky, Spanky"

1hr shows "Red Range High and Low" along with "Blue Daily High and Low"
5min shows detail

Typically when a Range High or Low is made or a Daily High or Low is made, it pulls back 23%.

The "Red Range Low was moved from 1/4/08 Range Low to today, 1/15/09.
It will be moved again, because it broke the 0% fib, to whatever the low will be as of 7pm tomorrow.

-Bo, people at work like your picture and your overalls (well, partial-alls) - Bo's Radical Attire (BRA)
LOL, BRA I like that one im gonna use that.
  • #2,086
  • Jan 15, 2008 11:03pm Jan 15, 2008 11:03pm
Quoting Brunite
IMHO.....this is KEY.

This concept is the main component of what I am working on.

I'm on the way (I think) to having cracked the code on "when and where"....more testing will tell.
You'll find it, basically you already have ,you just need refinement in it and to make it your own.
  • #2,087
  • Jan 15, 2008 11:05pm Jan 15, 2008 11:05pm
GBP/JPY, are we headed to 207.15, or lower?
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trading naked.......
  • #2,088
  • Jan 15, 2008 11:06pm Jan 15, 2008 11:06pm
Quoting Brunite
This is a key point in the approach that I am taking. I have NO problem when price hits my 138 and then continues....I only care about getting to the 138 on that cycle....makes that 100% easier.....don't care where it goes after that....just wait for the next setup.

And yes.....sometimes I end up with 6-8 fibs at a time on my charts and like you say....I see lots of cycles being hit and new ones starting to form.

Deep stuff......
Agree with getting to the target, and not caring where it goes after that...just wait for the next setup.

I've been focusing on the 38 to 23 and the 62 to 77, the 100 to the 77 and the 0 to 23, because the E/J had been ranging, except for 1/10 and today where I focused on the 123 to 133 for 1/10 and -23 to -33 for today.

Playing a shorter range of movement with more lots, higher probability, seems to work for my style.

Using the tool and personalizing Skunny's / Bo's thoughts has been a huge eye openner.
  • #2,089
  • Jan 15, 2008 11:08pm Jan 15, 2008 11:08pm
Quoting Bobokus
LOL, BRA I like that one im gonna use that.
I'm hoping the workshop will have a dress-up night...all in BRA's...with shine and diet shine.

Based on this thread, Sizzler will need to propose the initial toast.
  • #2,090
  • Jan 15, 2008 11:11pm Jan 15, 2008 11:11pm
Quoting piphitman
that UJ was a beauty Bronx, I picked that one up too before I went home from work.
Very nice hitman! UJ is usually quite orderly. I like it a lot!

Daily chart edging closer to its target price
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  • #2,091
  • Jan 15, 2008 11:13pm Jan 15, 2008 11:13pm
Quoting BarneyDog
I'm hoping the workshop will have a dress-up night...all in BRA's...with shine and diet shine.

Based on this thread, Sizzler will need to propose the initial toast.
If Sizzler starts toasting we may not get much done...dont know that i can get the diet shine, apple cinnamon seems to be the popular sippin whiskey at the moment.plenty of that around....LOL
  • #2,092
  • Jan 15, 2008 11:16pm Jan 15, 2008 11:16pm
Quoting bronxterp
Very nice hitman! UJ is usually quite orderly. I like it a lot!

Daily chart edging closer to its target price
$Yen respects fibs very well.
  • #2,093
  • Jan 15, 2008 11:17pm Jan 15, 2008 11:17pm
btw, I think I stole Bo's candlestick colors. I couldn't resist since they are the colors of my favorite baseball team, the NY Mets...yeah, go figure...a guy born and raised in The Bronx doesn't like the Yankees. I've always said that I was the smart one from The Bronx : Piphitman's chart has inspired me to change my candle colors to represent my football team, the NY Giants.

Anyway, good luck to everyone in the overnight session. I need to get some REAL sleep for once
  • #2,094
  • Jan 15, 2008 11:18pm Jan 15, 2008 11:18pm
Quoting bronxterp
btw, I think I stole Bo's candlestick colors. I couldn't resist since they are the colors of my favorite baseball team, the NY Mets...yeah, go figure...a guy born and raised in The Bronx doesn't like the Yankees. I've always said that I was the smart one from The Bronx : Piphitman's chart has inspired me to change my candle colors to represent my football team, the NY Giants.

Anyway, good luck to everyone in the overnight session. I need to get some REAL sleep for once
Smart Man....Auburn Tigers for me though
  • #2,095
  • Jan 15, 2008 11:19pm Jan 15, 2008 11:19pm
Quoting Bobokus
If Sizzler starts toasting we may not get much done...dont know that i can get the diet shine, apple cinnamon seems to be the popular sippin whiskey at the moment.plenty of that around....LOL
Never tried the apple cinnamon....a southern thing?

Pipateer gathered Skunny's pearl's, I wonder if we did that for Siz, we could get him to record it before the workshop, and then it could be played during breaks.

On a more serious note. What was the eureka moment for you when the Fibbing became more then just trying to pronounce fibonnaci?

It would be interesting to see/hear Skunny's response too.
  • #2,096
  • Jan 15, 2008 11:24pm Jan 15, 2008 11:24pm
Can you smell what dagoods is cookin? The Rock

It has been interesting reading the give and take between dagoods and lowell.

Must be they are reaping the pips.
  • #2,097
  • Jan 15, 2008 11:27pm Jan 15, 2008 11:27pm
Quoting BarneyDog
Never tried the apple cinnamon....a southern thing?

Pipateer gathered Skunny's pearl's, I wonder if we did that for Siz, we could get him to record it before the workshop, and then it could be played during breaks.

On a more serious note. What was the eureka moment for you when the Fibbing became more then just trying to pronounce fibonnaci?

It would be interesting to see/hear Skunny's response too.
By doing the very same thing everyone in this thread is doing or should be doing, homework.
When I first started I wanted to get professional training in using fibs until I found out how much it costs...its the reason i decided to start my thread to basically give it away for free just to spite those that charge outrageous amounts for it when Im better at it than they are anyway.
  • #2,098
  • Jan 15, 2008 11:33pm Jan 15, 2008 11:33pm
Quoting Bobokus
To me I would not have taken a long position there,It just completed the take profit point from the bounce it had just made from the previous days fib levels.
Bo - I usually place my stop halfway between the opposing internal fib and the opposite high/low (e.g. - if price is breaking up I place the stop halfway between 0 and the 38.2 after confirming close by S&R). Obviously lot size should be determined by risk which is a factor of SL distance. So, where do you normally place your stop?
  • #2,099
  • Jan 15, 2008 11:35pm Jan 15, 2008 11:35pm
Quoting Bobokus
By doing the very same thing everyone in this thread is doing or should be doing, homework.
When I first started I wanted to get professional training in using fibs until I found out how much it costs...its the reason i decided to start my thread to basically give it away for free just to spite those that charge outrageous amounts for it when Im better at it than they are anyway.
Well, I can only say you and Skunny have done a great job. I was initially frustrated by not understanding the concept. Trying to explain to the wife and another friend helped take my perception of what is working for the two of you and making a method I understand / is repeatable / generating positive results / has been a godsend.

Can't wait to share some shine.
  • #2,100
  • Edited 11:54pm Jan 15, 2008 11:41pm | Edited 11:54pm
Quoting PiPr Pro
Bo - I usually place my stop halfway between the opposing internal fib and the opposite high/low (e.g. - if price is breaking up I place the stop halfway between 0 and the 38.2 after confirming close buy S&R). Obviously lot size should be determined by risk which is a factor of SL distance. So, where do you normally place your stop?
Simple i dont use one, rarely will i trade that i dont monitor the trade.Most of the time I can tell its turning against me. If I did use a stoploss in a long i would place it well below a previous low, in a short well above a previous high, or if i trade off the fib levels its the opposite fib level (in a long off the Long fib an opening below the Short fib, the reverse in a short). More a stop and reverse than a stoploss.
To me a stoploss is used to protect profit once in a trade.
I guess the way I look at it is I will decide my own demise not a set stoploss
I even have my EA stoploss proof it takes a candle opening that i set not a price that can be spiked as an exit or stoploss
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