Indicator Free Trading - Skunny

Quoting Scotty B

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I plead the 5th..... I think you're gonna make it Piprpro. Da nananana Danananana <-pseudo singing for joy

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Quoting piphitman

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are you referring to the outer 138/162 extensions, or the inner 38.2 and 61.8?

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Quoting Scotty B

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Now for the market hinting us: You fib a candle (yes any candle) and the very next candle breaks up right past the 38.2 but doesn't hit the 61.8, then falls back down into the range of the fibbed candle in question. What would you do? Maybe the candles to follow even fall below the low of the fibbed candle. Ok I guess I am giving this away now but here what Scotty B would do. He would put a big ole smelly Take Profit on that original 61.8 level the market tried to go to but didn't hit, and then he would take a nap. It might take an hour and it might take a week, but the market will hit AT LEAST that 61.8. I say at least because if the initial candle that hits that 61.8 exceeds the 61.8 level by even a hair, I stay in the trade, but you guy's have to guess where I move my take profit to.

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Quoting Scotty B

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Hello all I think I found 'it.' Whatever that means. After three weeks of utter frustration I decided I would go back to the good ole' art of fibbing one candle at a time. I did however find a lot of new things over the last few weeks that I am thankful to have discovered (refer to my previous posts for those discoveries).

For you guys and gals out there to see what I am about to present, you will HAVE to add the fib levels I suggested a few pages back to see this work. Obvious---> a cycle ends when a fib level is met cleanly.There are all sorts of cycles in all sorts of time frames:single candle cycles, multi candle cycles, wrongly fibbed cycles ect. Everything in the Forex is in a dynamic cycle that is constantly changing as Skunnster has said.

Skunny pushed simple from the beginning. I see a whole lot of charts up on here that look like they could easily fit on a bedazzled commercial. I'm not saying lots of stuff on the chart is a bad thing but I don't think it is then simple anymore, and simple is of utmost importance here.

Remember when Skunnster megee said that the market gives hints of where it's going? Well he is exactly right, it does.

I'm not going to give the answer here, but I will leave more than enough pieces for you guys to figure this out.

Put a fib on a candle, any candle. You would be wise to have added those fib levels I already told you about. Watch which direction the following candles break first. It it breaks high, guess which extensions will be hit? If it breaks low????? LOL

Now for the market hinting us: You fib a candle (yes any candle) and the very next candle breaks up right past the 38.2 but doesn't hit the 61.8, then falls back down into the range of the fibbed candle in question. What would you do? Maybe the candles to follow even fall below the low of the fibbed candle. Ok I guess I am giving this away now but here what Scotty B would do. He would put a big ole smelly Take Profit on that original 61.8 level the market tried to go to but didn't hit, and then he would take a nap. It might take an hour and it might take a week, but the market will hit AT LEAST that 61.8. I say at least because if the initial candle that hits that 61.8 exceeds the 61.8 level by even a hair, I stay in the trade, but you guy's have to guess where I move my take profit to.

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Quoting Brunite

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If I understand you correctly.....the attached chart shows price breaking past the 138 but doesn't hit the 162.

If I were to place my TP at the 162.....I would suffer almost a 200 pip draw-down in the hope that price would come back up and hit my TP.....a mere 6 pips beyond the 138. This would send me to Dr. Phil in short order!

Yes.....6 days later it did hit the TP but I doubt many would hang on for that ride.

Unless I missed your point?........

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Quoting lowell

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I have several questions, Scotty B. I want to learn all I can.

1. I see quite a few candles on every tf. That if fibbed, would have a break of the 0 or 100 line and not hit the 138 on that side for MANY pips. How can one trade that reliably?

2. How can the "Moley Quail" be found with 6 extensions on each side of the 0 and 100? Especially since "The Man" himself said to eliminate all but the 138?

3. How much vHands time have you put into testing this?

Just curious?

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Quoting Scotty B

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I agree a draw down of that magnitude would be hard to ride out, but remember Skunny said sometimes he's in a 300 Pip draw down? Also...When I was a young lad I used to own a sega and my favorite game was Sonic the HEDGE hog. Thank the good Lord for Interbank and their HEDGING allowance.

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Quoting Brunite

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OK...I understand what you are saying. Personally, though, I see way too many other fib-able swings and candles to justify waiting 6 days and massive draw-downs for an extra 6 pips. If this way works for you and others....nothing wrong with that! However; if this plays out all the time (I've never looked at it before), I commend you for your diligence in searching for a way to use "the bat"!

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Quoting JaGuaR

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Hi, thanks Scotty for sharing.
am I on right track ?

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Quoting LoLoAC

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............See if this old dog can learn anything new...............

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Quoting Scotty B

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Hello all I think I found 'it.' Whatever that means. ...
Put a fib on a candle, any candle. You would be wise to have added those fib levels I already told you about. Watch which direction the following candles break first. It it breaks high, guess which extensions will be hit? If it breaks low????? LOL

Now for the market hinting us: You fib a candle (yes any candle) and the very next candle breaks up right past the 38.2 but doesn't hit the 61.8, then falls back down into the range of the fibbed candle in question. What would you do? Maybe the candles to follow even fall below the low of the fibbed candle. Ok I guess I am giving this away now but here what Scotty B would do. He would put a big ole smelly Take Profit on that original 61.8 level the market tried to go to but didn't hit, and then he would take a nap. It might take an hour and it might take a week, but the market will hit AT LEAST that 61.8. I say at least because if the initial candle that hits that 61.8 exceeds the 61.8 level by even a hair, I stay in the trade, but you guy's have to guess where I move my take profit to.

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Quoting LoLoAC

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...
Scotty, like others have suggested, maby it is a good idea to wait for Skuny to return and validate or Masacre some of the new theories. This thread is after-all based on trading by his principles. I understand he asked for some experimentation, but a swift 'correct path' or 'Treading through the swamp' will help you guys out a little.

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Quoting DollaBill

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K.I.S.S. The reason Skunny said don't worry about any levels after 132 is because he uses proper money management and gets the amount he needs on just the break of 0-100 to 132. Everyone knows that the GJ cranks out pips. It seems as if some have lost focus though. {No one is going to get all the pips, all the time!}

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