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Indicator Free Trading - Skunny

  • #2,961
  • Jan 30, 2008 10:19pm Jan 30, 2008 10:19pm
my last 2 poston the thread may interest you
re scalping without indicators


You are subscribed to the thread "roll over(carry trades) that can be used for 100% hit rates" by brijon.
http://www.forexfactory.com/showthread.php?t=67211
  • #2,962
  • Edited 11:09pm Jan 30, 2008 10:39pm | Edited 11:09pm
Quoting PiPr Pro
Have either you or dagoods found the point that tells you the trade is over and switch to opposite extension? Take my GJ trade today, thus far it has not hit the +138.2 target it was setting up for and when it broke the swing 38.2 @ 212.53 I closed out the trade for a measly 80 pips (should have been 325 pips). As Skunny said if you see it setting up to go the opposite direction it's time to get out or hedge the opposite to take profit on that swing until you eventually take profit on your first trade. That's assuming you had the fib right in the first place. Any ideas on this reversal point?
Maybe he meant going opposite direction on smaller time frame when the fibs are confirming to do so, taking short trade profits while waiting for your long trade larger time frame to reach target. But then that wouldn't really be hedging though would it. Other than that, Skunny said your stop should be where you are prepared to go in the opposite direction which makes sense in regards to fibs hitting the opposite side. All this is something that needs to be looked at more. It appears complex, but may be more simple than we think. Which post had that statement of Skunny's showing both open buy and sell orders at the same time? Perhaps if we re-fibbed his entry points that could give us some clues on how one might hedge.

GT (Jon)
The market is like the matrix - it is you that must learn to bend
  • #2,963
  • Edited 11:06pm Jan 30, 2008 10:48pm | Edited 11:06pm
Quoting trading4x
Hey GridTrader,

Maybe i don't fully understand what you are saying but I am pretty sure that the LARGER time frame trump the smaller time frame or in other words the larger TF have more significance and weight than the smaller TF. So major S/R have more weight the larger the time frame and usually harder for the price action to break, but when it does ---look out. Probabilities are higher also ---so on a day or week or month if one were to see a double top or a head and shoulders it is more likely to happen than if it were seen on a 5 or 15min chart.
I don't disagree with that. Let me clarify what I meant. That perhaps both larger and small time frame data are equally important. When a large time frame says enter, switch to small time frame and trade the small time frame targets in the same direction. The thought is this could get you out of trading a losing position. Example. My small time frame hits its target 20 pips before the large time frame target. This could be the warning that the large target will not get hit. Think back to what Skunny said. "When a weekly candle is fibbed and DOES NOT hit it's target, what happened?" This is where I think the smaller time frame data may be the reason or part of why it did not complete. The other thing he mentioned was "fib weekly, confirm daily, and then trade hourly" (something along those lines). Here again we are asked to "pay attention" to smaller time frames when choosing entries based on the larger time frames.

GT (Jon)

EDIT: One other thing that was important in regards to smaller time frames. Skunny made note that daily+ bars are different across the time zones. Your weekly bar may show a breach, where mine may not. Again the importance of smaller time frames. He said hourly was as close as you'd get to all charts showing same bars. He also mentioned 15 min bars, so he must be looking at them from time to time.
The market is like the matrix - it is you that must learn to bend
  • #2,964
  • Jan 30, 2008 10:50pm Jan 30, 2008 10:50pm
Quoting DXTrade
OK, let's try an experiment:
I added a gann fan to my chart and put to areas where the target should be hit. That would be too cool if I could even say at what time of the day my target will be hit.
I know... I may ridiculise myself completely now if the price goes anywhere except where I want it to be, but no worries: spank me, laugh at me... I deserve it!
This thread is all about possibilities. I (we) think you're doing a great job.
The market is like the matrix - it is you that must learn to bend
  • #2,965
  • Jan 30, 2008 11:00pm Jan 30, 2008 11:00pm
Quoting GridTrader
This thread is all about possibilities. I (we) think you're doing a great job.
Thanks mate, you just made my day.
Even if the guppy is trying to make me angry!
"The only successful substitute for brains is silence."
  • #2,966
  • Jan 31, 2008 12:03am Jan 31, 2008 12:03am
Quoting dagoods
....................
if price breaks upwards which fib would give us a correct target?
Quoting PiPr Pro
1.0548
First 2 targets achieved. I don't trade franc so this will be last post on it.
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  • #2,967
  • Jan 31, 2008 12:44am Jan 31, 2008 12:44am
Quoting PiPr Pro
First 2 targets achieved. I don't trade franc so this will be last post on it.
3rd target - that was fast
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  • #2,968
  • Jan 31, 2008 1:15am Jan 31, 2008 1:15am
Well, my down move didn't really worked out (yet )
But here's what I understood by hedging.
Long at the first green easter egg... with the target.
But my short including projection is still valid.

Any idea whether that makes sense?

P.S. BTW, pretty amazing how the price is walknig inside these gann channels...
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"The only successful substitute for brains is silence."
  • #2,969
  • Jan 31, 2008 1:16am Jan 31, 2008 1:16am
Quoting dagoods
that is soooooooooooooooooooooo nice.... u fibgagsta u!!!! didnt skunny mention something about price goes up...then down....then up again....then back down.....then back up and vice versa.... my math skills aren't too good, and elliot waves just confuse me but..... i think thats what he said...... seems your fib is drawn straightaway through all 5 of dem moves??????????????????? is there a reason for dat there dxtrademasterfibberguy????? boy this just goes on forever don't it? no end in sight

rock on fibtesters!
Hi dagoods

Not sure if I am reading too much into this, but look at post #2438.

Skunny quotes:

"Lets say there are 5 moves in a swing which would be 5 mini swings..lol.
You need to fib them all as they happen and delete or move them accordingly leaving fibs that hit to the pip or just a bit short as it is usually a temp turn point."

It may just be coincidence, but there are 5 swing in a elliott wave trend where support becomes resistance.

Fibs also work very well with elliott waves.

Worth investigating further unless Skunny tells us not to.

All the best.

Frank
  • #2,970
  • Jan 31, 2008 1:57am Jan 31, 2008 1:57am
Quoting DXTrade
Well, my down move didn't really worked out (yet )
But here's what I understood by hedging.
Long at the first green easter egg... with the target.
But my short including projection is still valid.

Any idea whether that makes sense?

P.S. BTW, pretty amazing how the price is walknig inside these gann channels...
How cool is that?
And don't forget: the target egg was drawn BEFORE the fact... not after!
(see previous chart )
Attached Image (click to enlarge)
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"The only successful substitute for brains is silence."
  • #2,971
  • Edited 2:30am Jan 31, 2008 2:29am | Edited 2:30am
Quoting DXTrade
How cool is that?
And don't forget: the target egg was drawn BEFORE the fact... not after!
(see previous chart )
VERY COOL DXTRADEMASTERFIBBERGUY!!!!!!!
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #2,972
  • Jan 31, 2008 3:31am Jan 31, 2008 3:31am
Just a quick update as things develop...
Price retraced close to the 50% of the big swing, hit to the pip the 138 of the small swing and went back down out of the big DZ heading into the small DZ.
Normally I now would walk my fib... but as I still have the down projection from this morning... I'll leave it until it eventually hits the 209.80 area.
Or not...

Sorry to bother you with all my charts... but thats just too beautiful to keep it for me!
Attached Image (click to enlarge)
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"The only successful substitute for brains is silence."
  • #2,973
  • Jan 31, 2008 4:31am Jan 31, 2008 4:31am
Hi DXT - nice chart - and sell! - as you and Sizz have put in some Gann lines I thought I'd post what I've got off the 15m.

Sizz - I'm sticking with integers as I understand that to be their correct use - except where you need to go < 1.0.

Look at the multiple hits in the light grey areas - OK, I can see that these are not "to the pip" but I think they can be a useful "alert zone" / "here something should happen" area. FYI, I'm just using + / - 1 / 2 lines.

It will be interesting to see how these work out over the next few hours....

Edit - chart came out incorrectly, I'll post it separately
Trading Levels with WRBs
  • #2,974
  • Jan 31, 2008 4:39am Jan 31, 2008 4:39am
I'll try again:
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #2,975
  • Jan 31, 2008 6:07am Jan 31, 2008 6:07am
sont know how u all did them there perfect gann monsters but.... i like trendlines...skunny put his stanp of approval on lines, so long as they aren't squiglly,... i play with trendlines like dis here....

weekly geppymonster chartarooney.....
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  • #2,976
  • Edited 6:55am Jan 31, 2008 6:31am | Edited 6:55am
PS Sizzler: howd that u/chf fib work out? just curious[/quote]

Good morning! I left the laptop (sleepytime station) closed since yesterday was triple bahddas awesome and got a full nights sleep woohoo.

Glad you asked dagoods.I forgot about it!!!.. check it out. I think it went well for being non discretionary It is like all you can eat softserve on a summers day.

Stuff is bananas, but I got my script flipped yesterday by The Fib Assassin Lowell so stay tuned for the sequel . Same fib time same fib channel. Crazy. Kinda makes you want to snap into a Slimfib oh yeahrr!!! er.. too much coffee? too much coffee. weak kung fu this morning.

Worthington Bloodshot McCharteye III esq.

Before and after now my swing low isn't so wierd eh? These are drawn on two different data feeds so who knows I know have data feeds to the ceiling it seems like.

EDIT: cut out some ramble
ALSO I reposted the after chart for accuracy since I forgot the big fib from my first chart and you ahve to do a full comparison. Yikes lets see! I don;t think I would draw it there now. but good and bad take them both.

Issy, You need to go to the clinic sir your Ganneria is out of control! Some one has some uncomfortable phone calls to make later today... I like it though. The major lines, confluence points adding support. etc
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  • #2,977
  • Jan 31, 2008 6:42am Jan 31, 2008 6:42am
Quoting sizzler
PS Sizzler: howd that u/chf fib work out? just curious
Good morning! I left the laptop (sleepytime station) closed since yesterday was triple bahddas awesome and got a full nights sleep woohoo.

Glad you asked dagoods.I forgot about it!!!.. check it out. I think it went well for being non discretionary It is like all you can eat softserve on a summers day.

Stuff is bananas, but I got my script flipped yesterday by The Fib Assassin Lowell so stay tuned for the sequel . Same fib time same fib channel. Crazy. Kinda makes you want to snap into a Slimfib oh yeahrr!!! er.. too much coffee? too much coffee. weak kung fu this morning.

Worthington Bloodshot McCharteye III esq.

Before and after now my swing low isn't so wierd eh? These are drawn on two different data feeds so who knows I know have data feeds to the ceiling it seems like.[/quote]


hey sizzz.... u r awesome and superskunnified for sure my brother in fib-arms

i asked u to leave the silly fib as i had drawn it just for pips and giggles... is one of those fibs the one i had drawn? i cant tell what happend since i closed my chart on that one and forgot to follow up..... which was my crazy little pet fibble?
  • #2,978
  • Jan 31, 2008 6:45am Jan 31, 2008 6:45am
Quoting Islander
I'll try again:
Which video game is that
Too many lines for me
Just Trade It
  • #2,979
  • Jan 31, 2008 6:57am Jan 31, 2008 6:57am
DX - thought Skunny said Ganns don't always work, seem to below
DaGoods, Sizz, Lowell - appreciate your thoughts too, seem to work out below too
Skunny - you da mann
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  • #2,980
  • Jan 31, 2008 6:57am Jan 31, 2008 6:57am
Quoting Big Wave Rider
Which video game is that
Too many lines for me
OK so I got a bad case a Ganneria - guess I'd better pop along to the IFib clinic.....http://www.forexfactory.com/images/icons/icon9.gif
Trading Levels with WRBs
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