i was thinking maybe skunny may have saw it more like this????
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Indicator Free Trading - Skunny
- #2,884
- Jan 29, 2008 11:39am Jan 29, 2008 11:39am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
OK guys sizzler is thinking along the same lines as me but failed to answer the question I was trying to pose....
ok guys WHEN WE BREAK the 0 or 100 on the charts with the fibs as i have drawn them would we feel good about a buy or a sell? and why? (forget the inner fibs for now), although i like the thinking, and I am always aware of inner fibs and testing inner fib methods, i'm not sure its is tradeable and we are only trading breaks of 0/100 as per skunny for now...
From posts 2829 and 2832: "from Skunny's post "Hey guys, throwing in my $.02 on this last move. I've been trying to tame GY (yea I know good luck).
Because this pair generally moves too fast for short term fib entries (the way we use them on cable), with GY you need to enter more often than not on the retracement instead of trying to fly into the waterfall."
So here Skunny is telling us on GJ to trade off the 38% - 62% retracements - mm, what I've called the Decision Zone".
Firstly, we were told to concentrate on the majors - i.e. the pairs GBPUSD, USDJPY, EURUSD etc, BUT for the GBPJPY cross - The Beast that we all like so much! - we should think more about trading off the internal retracements.
Thus we will already be in a profitable trade when price gets to the 0 / 100 breakout level. IMO this is the way to trade this cross.
Trading Levels with WRBs
- #2,888
- Jan 29, 2008 12:18pm Jan 29, 2008 12:18pm
with GY you need to enter more often than not on the retracement instead of trying to fly into the waterfall."
Thus we will already be in a profitable trade when price gets to the 0 / 100 breakout level. IMO this is the way to trade this cross.[/quote]
Islander,
interesting. I think "I-fibs" are going to become a reality, I can feel your thread starting
Nice work! You are the Fearsome Fib Pirate now! another thread to ramble...on... muhaahhahahha
I am thinking about making Fibzzlers for everyday people that need to offset their yearly earnings with a nice in the red trading LLC hehe
FIbzzlers : they work all the time, 10% of the time.
My counterpoint to that DZ would be my own experiance with the Gepster. I am pretty good entering on breaks or retraces or using smaller fibs to portent a good entry.
I also wonder if that wasn;t in the context of Wild Man Bobokus' trading discipline?
IMWO they in the same family but cousins not twins. Skunny says 100%(or 99.999) Bo says 70%, Skunny fibs go for targets Bo (IMO) is a trend trader with awesome focus and definition from fibs. I can't REALLY say very knowledgeably about either though , so grain of salt.
The reason i counterpoint is that if you aren;t careful someone less knowledgable could get super smoked trading on interior levels with no pierce. Oh yeah and I have been smoked doing that hehehe it was like catching a frieght train with your face and about as pleasant.
Sizz
Thus we will already be in a profitable trade when price gets to the 0 / 100 breakout level. IMO this is the way to trade this cross.[/quote]
Islander,
interesting. I think "I-fibs" are going to become a reality, I can feel your thread starting
Nice work! You are the Fearsome Fib Pirate now! another thread to ramble...on... muhaahhahahhaI am thinking about making Fibzzlers for everyday people that need to offset their yearly earnings with a nice in the red trading LLC hehe
FIbzzlers : they work all the time, 10% of the time.
My counterpoint to that DZ would be my own experiance with the Gepster. I am pretty good entering on breaks or retraces or using smaller fibs to portent a good entry.
I also wonder if that wasn;t in the context of Wild Man Bobokus' trading discipline?
IMWO they in the same family but cousins not twins. Skunny says 100%(or 99.999) Bo says 70%, Skunny fibs go for targets Bo (IMO) is a trend trader with awesome focus and definition from fibs. I can't REALLY say very knowledgeably about either though , so grain of salt.
The reason i counterpoint is that if you aren;t careful someone less knowledgable could get super smoked trading on interior levels with no pierce. Oh yeah and I have been smoked doing that hehehe it was like catching a frieght train with your face and about as pleasant.
Sizz
- #2,889
- Jan 29, 2008 12:59pm Jan 29, 2008 12:59pm
- Joined Jan 2007 | Status: Trader | 11,838 Posts
with GY you need to enter more often than not on the retracement instead of trying to fly into the waterfall."
Thus we will already be in a profitable trade when price gets to the 0 / 100 breakout level. IMO this is the way to trade this cross.
Islander,
interesting. I think "I-fibs" are going to become a reality, I can feel your thread starting
Nice work! You are the Fearsome Fib Pirate now! another thread to ramble...on... muhaahhahahhaI am thinking about making Fibzzlers for everyday people that need to offset their yearly earnings with a nice in the red trading LLC hehe
FIbzzlers : they work all the time, 10% of the time.
My counterpoint to that DZ would be my own experiance with the Gepster. I am pretty good entering on breaks or retraces or using smaller fibs to portent a good entry.
I also wonder if that wasn;t in the context of Wild Man Bobokus' trading discipline?
IMWO they in the same family but cousins not twins. Skunny says 100%(or 99.999) Bo says 70%, Skunny fibs go for targets Bo (IMO) is a trend trader with awesome focus and definition from fibs. I can't REALLY say very knowledgeably about either though , so grain of salt.
The reason i counterpoint is that if you aren;t careful someone less knowledgable could get super smoked trading on interior levels with no pierce. Oh yeah and I have been smoked doing that hehehe it was like catching a frieght train with your face and about as pleasant.
Sizz[/quote]
Woohhaaa.....starting a thread sends shivers down my spine - I dont have that ability, but I do like to try and follow what clues the thread starter has given - just need some guidance as I dont want to run into a blind canyon will others following!
I'm seeing a lot more clarity out with the 5m & 15m and starting to get with the flow - real time does need practice and vhands is a good start - $s on the table adds to the pressure. This is where Skunnys comment about more money being lost by stops than by any other error really hits home.
Trading Levels with WRBs
- #2,894
- Jan 29, 2008 2:33pm Jan 29, 2008 2:33pm
yeah i saw that...its a shame tho since he seems to be a great trader from watching his thread.....
i am glad u r here pipr can u answer a question for me?
if price breaks upwards which fib would give us a correct target?
- #2,896
- Jan 29, 2008 2:50pm Jan 29, 2008 2:50pm
Woohhaaa.....starting a thread sends shivers down my spine - I dont have that ability, but I do like to try and follow what clues the thread starter has given - just need some guidance as I dont want to run into a blind canyon will others following!
I'm seeing a lot more clarity out with the 5m & 15m and starting to get with the flow - real time does need practice and vhands is a good start - $s on the table adds to the pressure. This is where Skunnys comment about more money being lost by stops than by any other error really hits home.
"I-Fibs".......
I love it....good one FibzzlerBecause the "beast" is so volatile I guess the fool proof way to trade it is after a penetration of the "0" line, wait for it to retrace to the "100" line and then open a position.
Regardless of whether you start your own thread or not Issy please do keep posting your great charts and analysis on here too.
trading naked.......
- #2,898
- Jan 29, 2008 3:00pm Jan 29, 2008 3:00pm
- Joined Nov 2007 | Status: Trader | 3,060 Posts
1.0548
ok wise guy how is anyone going to learn with that kind of answer?
too funny pipr..... ok u give an example then....
- #2,900
- Jan 29, 2008 3:13pm Jan 29, 2008 3:13pm
- Joined Jan 2007 | Status: Trader | 11,838 Posts
Trading Levels with WRBs