Indicator Free Trading - Skunny

Quoting hharrington

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@ Pipr pro,

Hey man, I am a learning trader. I think from some of your comments in the past you should share your setups with me lol

Good luck

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Quoting lowell

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Hi BarneyDog and fellow Skunions,

Just a suggestion, I am a simple man and it is almost impossible for me to comment on your chart. In light of what Skunny is trying to teach us. I will reserve comment on anything that is set up differently then the way his charts are. I feel inadequate (sp?) to comment on a chart with all these different trading sessions, ganns, and a bazillion different fib levels, etc. A chart set up in this manner only serves to confuse me and seems to lead in directions other then what the Skunster is trying to teach us, at least for now.

I'm not singling you out, there are lots of others posting charts going in all directions. I think it is fine to personally chase these rabbit trails but it only serves to confuse the rest of us.

I am finally starting to understand PAS/R and make sense of the FX market and I must say, Skunny's basic charts and one-liners are what has gotten me to this point. It has been more helpful for me to re-read the first 50 pages of this thread again and again. Then the last 150 pages. Just my JMHO.

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Quoting PiPr Pro

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Please share your fib set ups or ideas.

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Quoting PiPr Pro

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Thanks - I'm most interested about your comment that it is possible to trade near perfect. Here is how I responded to one of the private messages I received recently and decided to post it here:

.....I believe the primary course of action for now (until we can incorporate time targets via Gann or DeMark) is the absolute assurance our fib is both pip correct and in the process of completing its cycle. My point here is Skunny has said that perfect fib cycles are possible. He didn't say he in fact does that himself. Although I believe he does have a superior program in place. But as an audited Wall Street manager myself that means different things to different people. We have analytics that slice and dice my performance every way you can imagine.

Even though I can take a vHands test for about any given month with 5% risk and double/triple/quadruple the account there are occasions that I see a 50% DD and have the feeling the account will blow up and of course that is unacceptable. More importantly for me it is still H1 trading often with day/week larger targets so you can be in positions for several days at a time (more time = more risk, a bad thing). I believe Skunny has figured out smaller more precise moves where he can load the lots and scalp quickly vs. sitting for days. He and Bo have both said don't be a pip counter, what matters is balance. My record without ever trying to trade one 24 hour period for the largest pips is nearly 1500 pips in one day, but with that goes larger pip DD also.

So, I am focusing on how the upper time frame affects the trading time frame, e.g. month/day and trade H1 and realigning my fibs to fit pip perfect retracement/inner fibs. And, just as important, what pattern can I find that allows a tighter stop loss and quicker trade. Skunny indicated as we all know that you can enter a trade opposite original S&R penetration for a quick ride the opposite direction with very tight stops, then take the trade back in the original fib perfect direction. I don't have that timing down yet or absolute assurance the pip perfect fib cycle is in place. So - even though I can trade fibs now (and in the past) with decent returns, the risk/DD has to be minimized by lower leverage and I often trade for days at a time which I would prefer not to do.

He said he doesn't use Gann anymore (or doesn't need to) and I believe that is because he figured out the quick trigger for target(fibs) and time(Gann) and now that he sees that on the chart when its about to happen he only needs PA and a few fib lines to tell him where he is going and he is in and out with larger leveraged lots and done. Unfortunately, my friend, I still lack that equation. So, I may sound like a baby - waaaa- waaaaa - I have a good 4x program but its not good enough - waaaaa - waaaaa, but you get the point. Let me know if you are going a different direction and if you figure it out any better.

So, maybe Skunny can confirm the main points above to be fact and it will tell us all, we need to keep seeking that quicker higher probability trade. See ya

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Quoting dagoods

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.........................please do comment on these failed fibs on vhands that go for miles in the wrong direction???? if u can tell me how to not run into one of these potential account killers i am all ears mate.............

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Quoting DXTrade

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I have been coding around a bit during the week end, took the bobokus fib indicator (thanks BO) and modified it.

Now I have a Daily fib indicator which draws a rectangle in the decision zone and a weekly indicator which doesn't.

Hope that helps...

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Quoting PiPr Pro

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dagoods - I took this and ran vhands and this is what I came up with around the time in question. When you have a target attained and draw the new fib to begin looking for the DZ decision zone hits (61.8 & 38.2). If you are not seeing those hits, your fib is wrong and subject to false break outs, etc. Both of these hit nearly pip perfect and after the fact I looked at your chart and you did in fact have the same fib I did at first. The blue circle shows my original fib support placement, but when the price didn't hit the 61.8 or especially the 38.2 very well I started adjusting. I wasn't sure when price went through the 61.8 because it didn't stop and reverse near the line. But when price stopped and reversed really sloppy near my 38.2, then I knew I was off. One adjustment was all that was needed. Hope this helps everyone!

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