Indicator Free Trading - Skunny

I too have been reading Bo's thread as well and as of now I'm still trying to get my head around his IMO "advanced" fibo style.

I'm also trying to cram my pea brain full of all this new "gann" stuff too.

But what I like about Skunny's thread is that it is letting me get a FREE education in basic finonacci style trading. How many accounts would I have blown before I (or many others on this thread) would have "IF EVER" figured out the basic 0/100 break to the 138 extension principles of finonacci????

That basic concept alone is enough to make someone a succesful forex trader IMO.

I have learned so much from Skunny, Islander, PiprPro, Sizzler, DX, grid, dagoods, seb, etc, etc, etc, and many other valuable posters to this thread that I am truly grateful for everyones contribution and continued input on this outstanding thread.

keep up the good work guys!!!!!!!

Hey GM - I went the same route and also got some great ideas from Bo's thread. At the end of the day what we're trying to do - each by his own path of discovery - is to make consistant profits by trading FX.

I'm on record for saying - until I'm proved wrong - that worrying about a +/- 5 /10 pip hit is less relevent. Far more important IMHO is finding a way of utilising the bare bones of what we have been give to work out how we can consistantly take out a high percentage of the intra day moves that our chosen market offers.

I now feel that I have gone too far with some of my ideas - guess it comes with the territory when you were trained as an R & D Engineer - so I'll desist and refrain for posting my ideas and concentrate on trading. BFN.

Now I really feel bad, Islander, please keep sharing! That is the purpose of a forum, to share and grow, and have others help each other grow in our experiences.

Hey guys,

Here is a geppy chart I'd been playing with the past day or so and while we have been in a seemingly tight range, we'd failed a couple of fibs to the top side (activated and not completed). I've noticed that (and I've alluded to this before) when I've seen several fibs fail on multiple tf, the market appears to turn. These fibs were drawn on an hour chart, the blue first and the others, smaller later swings on the same. It seems that I remember Skunny saying on an AUD chart that when a fib fails, he likes to redraw the fib to the latest swing (please someone correct me if I'm wrong, I'll try to find what made me think that and post it) so I move the blue fib to the "failed" long position, then the two smaller ones don't fail and the resulting short comes out more pip perfect; if there is even such a thing. Well, I guess you're either pip perfect or you're not, so maybe this has nothing to do with anything..

Whoops - sorry GM, I put that badly and I've edited my post. Aside from that error, I dont want to bring up ideas that may belong more in a research environment rather than a focused thread.

you know what I've been doing lately Dunkan is I am setting my fibs on the hrly but then I zoom it out to the 15M to look at the bigger picture to see how price has been moving around the different fib areas, if it doesn't appear that the "normal" levels are being bounced off of I then begin to think that I haven't drawn my fib in the right place.

I like to trade off of the 1HR, zoomed out to the 15M, then zoomed out to the 5M for entry but when I am changing my 15M fibs around I am also clicking on the 1hr too to see how my 15M grid is matching up to the hrly. I am constantly clicking the 1hr, 15M, and 5M, Things just have to make sense or I'm not going to trade it.

Hey Skunny... been following thread since the start. What an eye opener, I cant thank you enough!!!! I may have went a little crazy with the Gann lines but I made some goods pips today!!!

geez leweeeeze!!!! how could you not make pips on that star wars light show, every pip on the chart is hitting the fan..........

Hey wannabeatrader,can you posting your indi from this Gann Lines ?
Thanks,and best regards

Just dropping a little note again to thank all of you for posting your studies. If I knew what the h-ll I was doing I would contribute myself! But for now I won`t clutter up the forum.

Sizzler,
Do you have a decoder guide posted anywhere here?

I wish... all drawn by hand.

How many times you are working from this lines?
Best regards, and nice weekend

I WAS THINKING THE SAME THING!!!

A PATENTED SIZZLER DECODER RING!!!

HOW ABOUT A SIZZLER LEGEND?

One day

Thanks for the example, this was broadly speaking my understanding of what a cycle was, PA within the trading range until the TP point is hit. I can move on now to the next problem at hand . . . (your chart is a good example) . . . trying to find where the correct place to put a Fib is . . .

Thank you. :-)

Haven't posted much, been studying, babysitting, yada yada yada. Here are some charts for study.

Tear'em up guys!

p.s. - Skunny-what would you change to make these valid?

Glad you asked! I teach a course Sizzlish at the University every other semseter. It is a "Lengua Moronica" so it can be tough for romance/Germanic or really any language speakers to grasp at first...except people born and raised in places lovingly referred to as "Hollers" whatever those are.

I can save you the tuition though with my secret method. hehe

Step 1 Find tack hammer

Step 2.) Bash self with tack hammer , until I start making sense. Acute brain damage , but not brain death.

Oddly enough that is how I ,myself, learned it, but in lieu of tack hammer, I used multiple over indulgences and long evenings or early mornings.

The tack Hammer "TH" is a crash course Word of warning: Cartoons may be your main source of entertainment afterwards..and you may find yourself heatedly discussing current events with your pets or house plants and not know why...

Also "Pudding Pops". That will make sense after the crash course. Helmet.. always helmet, panda bear applesauce.. I have said too much already hehehe good luck

Minnesota Hashbrowns,

Sizz

P.S. I have been warned by a trader that I know understands Gann to the nth degree to spend as little as possible on a "couple" ebooks or Gann review books and then "spend" the majority of the time necessary to find out what cycle/harmonics/vibration is best for each currency. In other words there are plenty of high priced courses on Gann that are not needed in his opinion. Get the idea of Gann - then vHands as Skunny has advised us to figure out individual currency optimization.

Here's my take on drawing the Daily fib, your basic for each days trading, and Raptor, I think there are lots of opinions, put your chart time frame on H1, be sure it is zoomed out at least enough to see 2 days prior, look at yesterday( to help with confusion I'll give it a label, Tues), find the High and the Low, if that high or low was continued from the day before (Mon), reach back to the High on that day as your high/low. You will also have to look to see if the H/l continues in a move into today's(Wed) price action. From that basic Day fib you will have to find your own way to draw your inner fib and how and when to move it with in the larger daily fib. Practice, practice, practice. A good exercise Skunny gave us was to keep moving it until it laid over the price action to give us the target hit. This really helped me, and I guess for me it was like working a jigsaw puzzle.

I've attached 2 examples as to how I would do it, IMHO

First chart is an example of price movement continuing into the current day.

The second would be where price action only consolidated and the Low was was still valid.

Best of Luck

Dedicated to Dagoods. "Take one down, pass it around....1,499,999,999,999 pips on the wall ....."

Attached is today on the EJ.
Weekly pulled on Sunday from previous weeks hi and low - Red lines
Daily pulled yesterday at 9pm from yesterdays hi and low - 7pm - 7pm - focus on NY session (Orange) 9:00 am - 5:00 pm - Blue lines.
(Could set NY to be 8:00 am - 5:00 pm or 8:30 am - 5:00 pm)

Black lines pulled yesterday at 9pm between the Blue 100% and 62%.
(If above the Daily 50%, use 100% to 62%. If below the Daily 50%, use 38% to 0%.)(DaG --- this fibweb is for you!)

Didn't walk the tool, because additional %'s were added to the tool.

Note the long candle, 8:30 am. (occurs in the Blue Rectangle / Candle), I wonder how Skunny was able to communicate so that % lines could be drawn the day before, at 9pm, to account for the price action that occurred about 12 hours later. (The Spike down, breaks the Black 0%, retraces to 38%, and then breaks down through 0% and takes profit at the -38%, well, -32% or -33%, amazing)

Can't say it's a Skunny day, but it is sunny.
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Thoughts gleanded from Skunny's thread, previous 3059 posts, the info/data/waves/particals/frac-tales/and cocktails:
(disclaimer -- not rules, not guidelines, not from Skunny):

When 100% or 0% gets touched, initially, and there's a retracement to 62% or 38%, and the 100% or 0% has a 5 min candle close on the other side, price will go to 138% or -38%, unless a higher level fib is in the way. (Maybe it works for other %'s, with 100 degrees (%'s) of separation.)

How about, buy at 100%, when retracement, when 5 min candle closes above 100%. Then, sell at 138%, well not really, but how about 132% or 133%.

How about, sell at 0%, when retracement, when 5 min candle closes below 0%. Then, buy at -38%, well not really, but how about -32% or -33%.

How about, sell at 100%, when retracement, when min candle closes below 100%. Then, buy at 62%, well not really, but how about 66% or 64%.

How about, buy at 0%, when retracement, when candle close above 0%. Then, sell at 38%, well not really, but how about 32% or 33%.

Only thing we might have to figure out is how to see retracements when price is moving from 138% to 100% to 62%.

Only other thing we might have to figure out is how to see retracements when price is moving from -38% to 0% to 38%

Another potential consideration is to not buy until the 112% is broken by a 5min candle closing above the 112% or at 88%, 12% or -12%, respective of entry buying or selling, or closing, depending on where you started from.
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Why use the NY Session? There was a comment in one of the other posts that mentioned using the most recent data. (I started looking at 7pm - 7pm, then breaking those 24 hours into timeframes by market (easily adjusted to whatever timeframe wanted): Asian, London, New York, and a rest (5pm - 7pm, and allowing for the Asian market to set a direction, 7pm - 9pm)

In the chart below, the New York timeframe had a lower high then the daily high, it was actually near the daily 88% line.
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I was asked to add the attachment showing the 100% at the daily high of the previous day, vs the high of the New York session.
(See second attachment.)

On the second attachment, you can see that price was nearing the Black Range 138%, and the Blue Range 112%, going to Blue 138%, which is near the 2nd previous days high for the New York seesion, which happens to be the high for the 2nd previous day.
(Sorry about the size.)
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What caused the spike at 8:30 am, 14:30 GMT, on the attachments? NFP report hit at 8:30 am, and price dropped.
(An example to not be in the market.)(Wonder if Skunny could have traded for those pips? Advanced Skunny?)
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Don't have the faintest idea if above is where we are going, but if you don't know were you are going, any road will get you there.
Skunny pointed and off we went.
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Received an email with a suggestion on how to show retracement to 62% and 38% when price is between 100% and 138%, and between 0% and -38%. The suggestion also reduces the # of %'s lines, and may even provide another way to confirm price movement towards the close target: 138%, 100%, 62%, 38%, 0%, -38%. Suggestion was to use the Daily High and Low, and draw the % lines between 62% and 138% if price is above the Daily 50%, and draw the % lines between 38% and 0%, if price is below the Daily 50%....confirmation provided by a break of 5% from your entry target based on the 138%, 100%, 62%, 38%, 0%, and -38%, and take profit 5% before your close target.

Third attachment timeframes adjusted: 5pm-9pm, 9pm-1am, 1am-8am, 8am-5pm. (Makes it easier to see US related reports at 8:30, and as a reminder to be out of the market for the heavier weighted one's.)

See third attachement.

Other thoughts above still in place.