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Indicator Free Trading - Skunny

  • #3,501
  • Feb 8, 2008 6:57am Feb 8, 2008 6:57am
Quoting LoLoAC
Can any of you guys tell me what went wrong here?

Chears

PS. Thanks SpaceMama, the charts look better like this aswell!
This went wrong

6:00pmEUR
Composite Leading Indicators m/m

6:00pmEUR
German Industrial Production m/m
"The only successful substitute for brains is silence."
  • #3,502
  • Feb 8, 2008 7:08am Feb 8, 2008 7:08am
Quoting sizzler
LLAC,

Maybe but isn't that kind of "iffy" as a reason? This may or may not help you but if I have a fib fail nowadays I do this ( all what Skunny said in the beginning and only recently make a lot of sense) I also do these so it isn;t party line nonsense they work and I stand by them. After a time you will be able to "see" right and wrong fibs.

You look to be pursuing Skunny fibs so this is IMO the trblshting chklst

1.) Check backwards to make sure I am not in the middle of a previous fib
2.) Check a lower timeframe
3.) Am I in some crazy world event?
4.) I guess check higher time frame but I don;t really see this as a biggie anymore if your chart is tight top down.
5.) check a few platforms to make sure my data is tight.
6.) was there really a fib on my tf or did I push one there?


All of these should be done pre flight though. IMHO you cannot just draw a fib on a swing and have it work and if your fib fails you failed not the fib.

Sizz
Thankyou for the reply Sizz.

(1)Im actually not sure what you meen by 'in the middle of a previous fib'. I would take that as being thesame as 'in the middle of a previous cycle'. And if I remember correctly Skunny said that you can be trading different cycles at once. If you could elaborate on that one I would be very happy.

(6 + bottom comment) I considered the in question swing to be valid, There is also a lower point I could have drawn from, but this would have resulted in thesame outcome. This leaves the Top point which Is afew pips away from the larger fibs 62.8. It wouldnt be a 'failed fib' as such, afterall skunny did say that the larger fibs trump the smaller!

Im excercizing some cogs upstairs that havent turned for a while, lol.

Good trading

Ps. DXTrade, that could very well be the reason, lol. Thanks
  • #3,503
  • Edited 9:47am Feb 8, 2008 9:23am | Edited 9:47am
Suddenly it hit me, is it possible to find the reason why some fibs fail by studying the lower timeframes? I think Skunny has said something like this once upon a time. To find out why a daily fib has failed, we should check out how the hourly behaved during this day, perhaps there is a pattern that can we recognise that tells us it will fail? Maybe it doesn't retrace as much, or maybe it retraces TOO much, or maybe it retraces twice past 61,8%? It is for us to find out!
Do what thou wilt shall be the whole of the law.
  • #3,504
  • Feb 8, 2008 9:54am Feb 8, 2008 9:54am
Quoting PiPr Pro
Sudden death in family - back few days
Sorry to hear this.

Your family is in my prayers.
  • #3,505
  • Feb 8, 2008 10:16am Feb 8, 2008 10:16am
My first demotrade for the day. Trying to implement support and resistance too.

Happy weekend everybody!
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Do what thou wilt shall be the whole of the law.
  • #3,506
  • Edited 10:51am Feb 8, 2008 10:26am | Edited 10:51am
Quoting LoLoAC
Can any of you guys tell me what went wrong here?

Chears

PS. Thanks SpaceMama, the charts look better like this aswell!


hey there.... ya know i looked at this and what i see is a perfect fib....even better than most of lilttle fibbles


I just cant understand whats wrong?



a perfect two-way fibble child? are you ashamed that you little fibble "goes both ways"? What kind of parent are you! you need to love your fibbles unconditionally lol


seriously though look at the one hour of your fib......>>>>> see chart


look atthe canle you chose to fib......


see how delightful this fibblle is aftera all?

PS just for fun i throw in a couple of other charts for anyone who is crazy enough to care lol most of us should probably ignore these coincidences but...dang it bothers me....lol ....that dang molier moliest quail.....
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  • #3,507
  • Feb 8, 2008 10:43am Feb 8, 2008 10:43am
Quoting dagoods
hey there.... ya know i looked at this and what i see is a perfect fib....even better than most of lilttle fibbles


I just cant understand whats wrong?



a perfect two-way fibble child? are you ashamed that you little fibble "goes both ways"? What kind of parent are you! you need to love your fibbles unconditionally lol


seriously though look at the one hour of your fib......>>>>> see chart


look atthe canle you chose to fib......


see how delightful this fibblle is aftera all?
lol, Im now thinking I must be trying to trade this different to some of you. That trade I took was by my rules which I gathered from what I have read, and it did not result in a profit.
I realise you are saying its a doji on the 1hr, but I fail to see how or why it is a good thing. Im stumped, give me a little push to understand what ur saying please.

Good Trading!
  • #3,508
  • Feb 8, 2008 11:02am Feb 8, 2008 11:02am
Quoting LoLoAC
lol, Im now thinking I must be trying to trade this different to some of you. That trade I took was by my rules which I gathered from what I have read, and it did not result in a profit.
I realise you are saying its a doji on the 1hr, but I fail to see how or why it is a good thing. Im stumped, give me a little push to understand what ur saying please.

Good Trading!

ok here is what i do... i keep re-reading and re-reading skunnys posts and then i re-read them and study them some more...then i test skunnys charts on vhands then i practice vhands as much as possible....



but i think skunny said in 1 post about knowing where in the cycle you are

and 2 about being aware of higher timeframes
3 of course is knowing where s/r lies that can hurt you poor lil fibbles.....

4 trade off of the 1 hour, but u can use lower timeframes as a laser guided missles if u trade in direction of bigger timeframes... have faith
4a... skunny said in post the first thing you must do and be aware of BEFORE placing a trade is know where your stop should be... he mentioned that having your stop in the wrong place is a sure way to lose in forex...something to this effect....

NOw.... dont get me wrong i would have bailed to

4b.

skunny mentioned in earlier posts to sometimes take trade in opposite direction depending on circumstanes...

5 it went up, initated your buy, news came out disrupting your flow but not changing your cycle, as it went down(and initiated a sell, but only went to only to t2, then back up to your target... I think.... i am no skunny.... just my 2 cents...
  • #3,509
  • Feb 8, 2008 11:16am Feb 8, 2008 11:16am
Quoting LoLoAC
Can any of you guys tell me what went wrong here?

Chears

PS. Thanks SpaceMama, the charts look better like this aswell!
Hi LoLoAC

Look at the 1H chart.

It looks like the EJ is about to change trend.

It is showing signs of being the pattern that Skunny traded in post #176

I think this is a trend change pattern.

Needs further investigation and cautious trading.

Frank
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  • #3,510
  • Edited 11:47am Feb 8, 2008 11:34am | Edited 11:47am
Quoting Gknarf
Hi LoLoAC

Look at the 1H chart.

It looks like the EJ is about to change trend.

It is showing signs of being the pattern that Skunny traded in post #176

I think this is a trend change pattern.

Needs further investigation and cautious trading.

Frank
I concur. We are about to be actively targeting the upside TP. but then again who knows this might be one of Dagoods' Sizzler flukes TWT

Sizz

Islander, I will be happy just riding around in your yacht if you keep the bar and fridge stocked. no need for royalties. LOL. Also I WILL need satellite Inet to trade from The yacht Where is a good place to set up shop in Spain? Malaga? spend the rest of my days with Rioja, paella and prawns sigh
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  • #3,511
  • Feb 8, 2008 11:36am Feb 8, 2008 11:36am
Quoting LoLoAC
Can any of you guys tell me what went wrong here?
It looks to me as if you Fibbed the 5 min bars and then traded the 5 min bars, yes ? I think that is a bad move . . . try Fibbing the hour bars and watching the 15 min bars . . also, as has just recently been pointed out, you need to watch out for trend reversals, its much safer to trade with the trend, obviously.

Then again . . . I know nothing
20 pips a day isn't too much to ask . . .
  • #3,512
  • Feb 8, 2008 11:47am Feb 8, 2008 11:47am
Quoting RaptorUK
It looks to me as if you Fibbed the 5 min bars and then traded the 5 min bars, yes ? I think that is a bad move . . . try Fibbing the hour bars and watching the 15 min bars . . also, as has just recently been pointed out, you need to watch out for trend reversals, its much safer to trade with the trend, obviously.

Then again . . . I know nothing

so maybe one coul fib daily watch out for weekly trade hourly or something like this??? and then laser target some 15 min but only the 00 and 30 as skunny said?????

PS SIZZLER I HAVE A SNEAKIN FEELING YOUR FIBS ARE GOING TO BEAHVE MORE LIKE OBEDIANT CHILDREN FROM NOW ON RATHER THAN FLUKES FROM THAT PM U SENT ME
  • #3,513
  • Feb 8, 2008 11:58am Feb 8, 2008 11:58am
Quoting dagoods
so maybe one coul fib daily watch out for weekly trade hourly or something like this??? and then laser target some 15 min but only the 00 and 30 as skunny said?????

PS SIZZLER I HAVE A SNEAKIN FEELING YOUR FIBS ARE GOING TO BEAHVE MORE LIKE OBEDIANT CHILDREN FROM NOW ON RATHER THAN FLUKES FROM THAT PM U SENT ME
RIGHT, or something close. Skunny said Fib Daily, trade hourly. Another place he said he said he enters on the Hourly and manages the trade on the M15 tf with the most important candle being the 00, and next important the 30. Key is you always trade top down.
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #3,514
  • Feb 8, 2008 11:59am Feb 8, 2008 11:59am
Quoting dagoods
so maybe one coul fib daily watch out for weekly trade hourly or something like this??? and then laser target some 15 min but only the 00 and 30 as skunny said?????

PS SIZZLER I HAVE A SNEAKIN FEELING YOUR FIBS ARE GOING TO BEAHVE MORE LIKE OBEDIANT CHILDREN FROM NOW ON RATHER THAN FLUKES FROM THAT PM U SENT ME

LOL it is amazing what a little Belt music will do!! Slap slap !

JUST KIDDING duh !! belts leave marks. Marks leave questions. you need to use a rubber hose. hehehehe

again kidding for all those sensitve parents out there. I am a pascifist unless it is a bellagio buffet or trading. HOOZAH!


Sizz.
  • #3,515
  • Feb 8, 2008 12:06pm Feb 8, 2008 12:06pm
Quoting sizzler
I concur. We are about to be actively targeting the upside TP. but then again who knows this might be one of Dagoods' Sizzler flukes TWT

Sizz

Islander, I will be happy just riding around in your yacht if you keep the bar and fridge stocked. no need for royalties. LOL. Also I WILL need satellite Inet to trade from The yacht Where is a good place to set up shop in Spain? Malaga? spend the rest of my days with Rioja, paella and prawns sigh
Hey Sizz - dont forget that I drive other peoples yachts - OPM is best if it flies or floats....

We Captains have arduous duties - yesterday lunchtime I was called to help a couple of other Super Yacht Captains - thats 50M + - to try out the cooking of a new chef and the service of new stewardesses.....fresh marinated salmon, shellfish paella and chocolate fondent with the latest recomendations from the wine supplier........it was hard work, to the extent that before I was removed from the table, I declared the weeks trading to be over. Now that I have found my study again and this 'putery thingy, I feel that was a wise decision - after big moves come chop - especially on Freaky Fridays.

Anyway, if you'd like to see the crew list, PM me your email - I'd be banned if I posted it....http://www.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
  • #3,516
  • Feb 8, 2008 12:21pm Feb 8, 2008 12:21pm
Quoting Islander
Hey Sizz - dont forget that I drive other peoples yachts - OPM is best if it flies or floats....

We Captains have arduous duties - yesterday lunchtime I was called to help a couple of other Super Yacht Captains - thats 50M + - to try out the cooking of a new chef and the service of new stewardesses.....fresh marinated salmon, shellfish paella and chocolate fondent with the latest recomendations from the wine supplier........it was hard work, to the extent that before I was removed from the table, I declared the weeks trading to be over. Now that I have found my study again and this 'putery thingy, I feel that was a wise decision - after big moves come chop - especially on Freaky Fridays.

Anyway, if you'd like to see the crew list, PM me your email - I'd be banned if I posted it....http://www.forexfactory.com/images/icons/icon12.gif

Sheesh that sounds rough!! LOL you can click send me an email anything that could get someone banned is my cup o tea also I tried to om you and you are over quota, someone is POPPPUUULLLLAR!! hehehe
  • #3,517
  • Feb 8, 2008 12:26pm Feb 8, 2008 12:26pm
Hello all.....I'm done for the day. Phew.....all my targets hit but way to much chop in the water.....getting seasick watching price!

Since I'm done for the week, I've been playing a little bit with the Gann stuff. PPPr's most recent posts have been helpful in that regard.

A question to those of you more proficient in Gann use:

PPPr mentioned using scale of 14....that worked well for me yesterday. Today....after some experimenting....I came up with another setting that was smack-on my my pair and TF.


I recall Skunny mentioning that the angle would/should be variable:

Quote
Gann lines can be calibrated to any angle. It's knowing what angle your on. Like knowing what cycle your in. All of these are predetermined areas before price gets there. (not after the fact)

In my limited work with this; I'm seeing that the angle can be different and getting the right one is the KEY! Anyone have any insight or opinions on this they care to share? I'll be testing this weekend.
  • #3,518
  • Feb 8, 2008 12:52pm Feb 8, 2008 12:52pm
Quoting Gknarf
Hi LoLoAC

Look at the 1H chart.

It looks like the EJ is about to change trend.

It is showing signs of being the pattern that Skunny traded in post #176

I think this is a trend change pattern.

Needs further investigation and cautious trading.

Frank
Hi
I'm looking at the EJ too, I've got my fib as in the chart. The price reversed before TP, but I believe that is because its hit another earlier fib target. I'm now waiting for it to return to its upward cycle.
LoloAC,

I believe your fib failed because you were fibbing a low TF. Skunny said that we should avoid them as they are unreliable. My interpretaion of his posts are that he watches the hourly and manages his fibs in the 15m, but who knows for sure. Anyway good luck both.
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  • #3,519
  • Feb 8, 2008 12:58pm Feb 8, 2008 12:58pm
Quoting sizzler
Sheesh that sounds rough!! LOL you can click send me an email anything that could get someone banned is my cup o tea also I tried to om you and you are over quota, someone is POPPPUUULLLLAR!! hehehe
Boxes emptied....
Trading Levels with WRBs
  • #3,520
  • Edited 2:36pm Feb 8, 2008 1:55pm | Edited 2:36pm
Here is a trade unfolding. I first fibbed the hourly candle, then I went down to 15m and tried to find S/R.

What kind of settings look best when you post pictures from metatrader? I used active chart (as is) 800*600, but some details seemed to disappear.

This one is active chart 800*600.
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Do what thou wilt shall be the whole of the law.
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