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Indicator Free Trading - Skunny

  • #3,561
  • Feb 9, 2008 3:26pm Feb 9, 2008 3:26pm
Quoting BarneyDog
Hey Mom this charts for you. Tells you everything you wanted to know about the other 61.8 cents....

Fib Arc, Fib Fan, Fibs --- and, if you draw lines intersecting the Arc's and Fan's you have Farcs that need Fanning...real stinkers, if you ask me.

Farcs are hybrid Gann's.....

Now this is true Skunny Indicatorless Trading...or what Skunny really does behind the scenes. No wonder he told us it was only 1%.

On a more serious note....Skunny said the 138 will not become important, I wonder if we were to add more fibs to incrementally measure the entire previous days range we'd see where support and resistance would show up. Then, because of the fib ther"mom"meter, we'd be able to determine where to buy and sell based on a more precise measurement of price action.
Barney,

If I put all that on one of my charts, certain people would run me clean out of town! KISS Barneydog, Kiss!!!!! LOL
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #3,562
  • Feb 9, 2008 3:31pm Feb 9, 2008 3:31pm
  •  TrevA
  • | Joined Oct 2007 | Status: my brain has a mind of its own | 166 Posts
Quoting BarneyDog

On a more serious note....Skunny said the 138 will not become important, I wonder if we were to add more fibs to incrementally measure the entire previous days range we'd see where support and resistance would show up. Then, because of the fib ther"mom"meter, we'd be able to determine where to buy and sell based on a more precise measurement of price action.
BarneyDog

I believe the 138, like the 50 and 100 are synthetic fibo numbers, that is, they are not really Fibonacci numbers at all and just serve as a visual guide.

I don't like to use the 138 and just have the 161 in place. I find that price action around 138 distracts from the most important numbers like .618.

Just my 2 pips worth.

TrevA
  • #3,563
  • Feb 9, 2008 3:32pm Feb 9, 2008 3:32pm
I dont need the charts to trade forex. I use excel forex data from Reuters Quotecenter to make a trading decission.

Check thiss...

I love to watch some macro economics data from Reuters.
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Trainee at UBS Investment Banking
  • #3,564
  • Feb 9, 2008 3:42pm Feb 9, 2008 3:42pm
Hello everyone!

Does it mean that price always extends to a 1.382 if you measure from the correct point AND that this point can be known in advance?

The Fib numbers are as i understand from that Russian scientist based on peoples positive/negative opinions about their own positions.
  • #3,565
  • Feb 9, 2008 3:45pm Feb 9, 2008 3:45pm
Quoting BarneyDog
On a more serious note....Skunny said the 138 will not become important, I wonder if we were to add more fibs to incrementally measure the entire previous days range we'd see where support and resistance would show up. Then, because of the fib ther"mom"meter, we'd be able to determine where to buy and sell based on a more precise measurement of price action.
138 not important? This is not exactly what I heard Skunny say!

I quote Skunny: "Don't get caught up with the 162 ext. It becomes irrelevant down the road."

So why is everyone getting caught up with the 162 ext and saying the 138 is NOT important?
Do what thou wilt shall be the whole of the law.
  • #3,566
  • Feb 9, 2008 3:47pm Feb 9, 2008 3:47pm
Quoting johs
Hello everyone!

Does it mean that price always extends to a 1.382 if you measure from the correct point AND that this point can be known in advance?

The Fib numbers are as i understand from that Russian scientist based on peoples positive/negative opinions about their own positions.
Some times it will, some times it won't. Or so it appears. You have to study alot to find out why.
Do what thou wilt shall be the whole of the law.
  • #3,567
  • Feb 9, 2008 4:19pm Feb 9, 2008 4:19pm
Quoting arralou
Some times it will, some times it won't. Or so it appears. You have to study alot to find out why.

Yeah..I see how it works somewhat just by watching flow/price but have problems to fit in Fibs all the time from the "correct" point.
  • #3,568
  • Feb 9, 2008 4:34pm Feb 9, 2008 4:34pm
Quoting johs
Yeah..I see how it works somewhat just by watching flow/price but have problems to fit in Fibs all the time from the "correct" point.
Yeah, me too
We just have to remember that anything worthwhile is never easy.
Do what thou wilt shall be the whole of the law.
  • #3,569
  • Feb 9, 2008 4:45pm Feb 9, 2008 4:45pm
  •  TrevA
  • | Joined Oct 2007 | Status: my brain has a mind of its own | 166 Posts
Quoting arralou
138 not important? This is not exactly what I heard Skunny say!

I quote Skunny: "Don't get caught up with the 162 ext. It becomes irrelevant down the road."

So why is everyone getting caught up with the 162 ext and saying the 138 is NOT important?

All, I was incorrect earlier saying 138 is not a fibo number, it is.... i sometimes get confused.

1.382 and 38.2 are VERY important as a fibo number as 38.2 confirms the start of a correction in an attempt to move forward to the 61.8% level.

Same for 1.382. Often a break at this level reflects a surge forward to the 1.618 level.

I hope I haven't confused anybody.

TrevA
  • #3,570
  • Feb 9, 2008 5:21pm Feb 9, 2008 5:21pm
Is it just me or is it extremely selfish to come to an area of sharing and bragg about figuring out what so many are struggling with while refusing to share. Keep in mind..Skunny started this thread to give back and help others. The post below does'nt share that spirit in my opinion. Enjoy your AH HA. If you don't give back, it probably won't last.

Quoting grkbear
I now understand what Skunny has been talking about. I have not been able to stop thinking about this thread since I started reading it on Tuesday night. I stayed up for two days (thats right, no sleep!) trying to figure this out and retrading using vhands. I thought I had it last night/this morning but I didn't and I was exhausted. I went to bed finally and woke up this afternoon ran some errands and got right back on it with a fresh mind and a pair of eyes. As I was looking at the chart and trying to remember all of Skunny's little riddles - I SAW IT!! IT HIT ME LIKE A TON OF BRICKS!!! I couldn't believe it is so simple yet it has taken hundreds if not thousands of hours of pouring over charts for the last 3 years and I have also devoted the last 7 months full time to this endeavor and there it is right in front of me this whole time. If not for Skunny I would still be looking. Now understand what he means when he says you can be in a trade and never get out!! Also, you can trade at 100% unless the human element fails. I now also understand why the people that finally get it do not give it out. It is a journey and what a wild ride it has been. This is life changing. I would like to thank Skunny and wish him the best. I owe him, I do not know what, but I still owe him.
I hope I got this right or else I will look like a fool to all of you after this post.

Thanks to all of you and especially Skunny!

Nick
  • #3,571
  • Feb 9, 2008 5:48pm Feb 9, 2008 5:48pm
Quoting hnic828
Is it just me or is it extremely selfish to come to an area of sharing and bragg about figuring out what so many are struggling with while refusing to share. Keep in mind..Skunny started this thread to give back and help others. The post below does'nt share that spirit in my opinion. Enjoy your AH HA. If you don't give back, it probably won't last.
With respect, you are missing the point.

Out AHA moments are individual moments of enlightenment. I have usually been unable to understand the AHA moments posted by others. My own AHA moments have largely been ignored, probably for the same reason.

It is not that those of us who have enjoyed AHA moments do not want to share them; most of us try. This thread is about a journey that all of us must make as individuals to reach our goal of becoming successful forex traders.

I started to write, "For example, here is where I am. I know exactly what I am talking about"

Then I realised I could not possibly sum up what I have learned in a form that anybody would actually want to read.

Just do the work, ok? You won't be sorry. Your success really is down to your efforts.


  • #3,572
  • Feb 9, 2008 5:57pm Feb 9, 2008 5:57pm
Quoting dagoods
excuse my ignorance, but how would u arrive at this? can u explain your thinking here please.... choosing proper fib placement is essential...and if u truly have something more useful...then share .... or at least share your thinking....

and what tool is that u r using.... is it based on fibs? does it help u choose your fib placment?

u seem to have something there...but its much easier in hindsight to find fibs that fit perfectly... but your chart is very nice...and maybe u have better judgment than i do.... doing that in real time.... I would never have chosen that as my fib placement.... so any help is appreciated

regards
Hi dagoods. There is my 2cents how I'll walk fibs.
Define trend
Find S/R
Put fibs
Its possible that there is more than 3 steps to draw fibs. Find those that works for you. I'm learning just like you and rarely post only because my English not good.
Skunny my Hero!!!

PS. It's Support and Resistance indy by Barry Stander, but it's subjective.
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  • #3,573
  • Feb 9, 2008 6:12pm Feb 9, 2008 6:12pm
Quoting hnic828
Is it just me or is it extremely selfish to come to an area of sharing and bragg about figuring out what so many are struggling with while refusing to share. Keep in mind..Skunny started this thread to give back and help others. The post below does'nt share that spirit in my opinion. Enjoy your AH HA. If you don't give back, it probably won't last.

Sorry, but someone has to say it. And I'm someone.


You make a great point, and here's a thought that may make you feel a bit better about the situation. Just because someone claims they have a method of predicting exactly where the market is going to go doesn't mean anything. Don't be disheartened by the fact that the people who claim to have "the secret" refuse to share it. There may be nothing to share.

There are a bunch of these cryptic "kung-fu" type of threads and posts out there that accomplish nothing but to get a bunch of people running around chasing their tails. Until I see someone start posting live trade calls which are on the money every time, I wouldn't worry about not having "the big secret."

Sometimes I wonder about the motivations behind people that enjoy dropping these little cryptic bits of "wisdom" and then leaving everyone in a lurch. There's a song called "Black and Silver" by Xandria which really kind of captures what may be going on in their heads. Note the lyrics I put in bold.

Inserted Video


Xandria - Black And Silver Lyrics

I am amused
You seem to love me
But be reserved
Before you huff me

I'm used to winners
I need the fame
And if you touched me
You'd be my shame

Your childish dreams are all in vain
To me your kind is all the same

A starlit sky
Of black and silver is my core
My last goodbye
Makes you want me even more
For silver is my fame
Black is my name

I am a queen
And if you creep
I'll push my blade
Still-water-deep

I am a dream
A fairy-tale
Your endless quest
Your holy grail

Thanks so much for your confusion
I will be your lost illusion

Deep inside
The silver shines as black as can be
My disguise
The wolf among the sheep, you want me
To me your kind is all the same
To me your kind is all the same
  • #3,574
  • Feb 9, 2008 6:13pm Feb 9, 2008 6:13pm
instead of fibs you can also use envelopes
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/ ... clarifying decisions ... /
  • #3,575
  • Feb 9, 2008 6:27pm Feb 9, 2008 6:27pm
As I looked at viat's chart and spotted umpteen different s\r points, these thought occurred to me:

 

  1. s\r points are marked by a change in price direction
  2. we can spot candlestick movements from high to low, or vice versa, anywhere on our charts, and can fib them. These then become our 'master' fib.
  3. within the master fib, we can then draw 'slave' fibs that we can use to trade. Sometimes, a slave can become a master and so on, until we find a fib that can be profitably traded.

From this flows trade sizes. The wider the fib range we trade, the lower the lot size needs to be because of the more distant sl. The smaller the fib range, the greater the lot size can be. All this confirms my own AHA moments for me.

Am I talking rubbish?

  • #3,576
  • Feb 9, 2008 6:48pm Feb 9, 2008 6:48pm
Capitalist. That is not contributing. To get you have to give. Be positive and do lots of Vhands.
Do what thou wilt shall be the whole of the law.
  • #3,577
  • Feb 9, 2008 7:39pm Feb 9, 2008 7:39pm
Quoting dagoods
to al of those that think they have an aha....

lets be reminded to stay humble...and realize that we know less than 1% of what is


take a look at post 137 on page 10

can any of u honestly say your fib would have been there? I have studied this chart endlessly... with no aha


i doubt anyone in the world (like skunny said) would have had there fib there...


skunny gave us a BAT so far which is a nice blunt instrument to smack some screws into place and drive them into the wood

BUT we do not have a an alan wrench yet IMO not even close, i would say we dont even have a screwdriver yet.... precision tools not yet revealed...at least not to me




CAN ANYONE HERE GIVE A HINT HOW THAT FIB ON POST 137 GO THERE?

I DOUBT IT



I AWAIT SKUNNYS NEXT LESSON
Such a long term time frame, but after all the failed extensions I guess this is what one would do.
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  • #3,578
  • Feb 9, 2008 8:10pm Feb 9, 2008 8:10pm
Quoting SteveHopwood
Go to IBFX at http://www.interbankfx.com/. Click on the link to 'Download a FREE DEMO' (right of screen) or 'practice account' lower down. This will eventually allow you to download 'ibsetup4.exe'; running this will help you set up a demo account that does not expire so long as you continue using it - expires after a month otherwise.

If all else fails, pm me with an email address and I will email you a copy of the setup file, but it is freely available from IBFX.

Thanks for the info. I may already have IBFX, as it is. I have used an IBFX demo acct. in the past, and the one I am now attempting to do all of this on, looks very much like the one I had before. Hmmm, or not....can't tell. I waste so much time trying to get things set up...and I still have so much reading to do to get me up to this point. Then I get bogged down with trying to decipher codes...i.e: PA; DZ....I'm sure they must be explained somewhere in the first few posts(I'm only on page7- I am a slow reader, and have trouble assimilating what I read)...oh well, I will persevere.
Thanks for your help!
ppm
  • #3,579
  • Feb 9, 2008 10:35pm Feb 9, 2008 10:35pm
Hhmmmmm...
haven't felt the kiss of the AHA-Genius yet.
Except for the simple truth that you find a trend direction, wait for a retrace and buy on dips or sell on rallys.
Which makes me draw my fibs basically as retracement fibs.

But as we are in the indicator-free zone... I slicked the code of my indicator and improved the points where the Gann Lines are drawn...

Here it is... !
If either I find it myself or some sacred "I-Found-It" member tells me the quail... I will then delete the indicator from my chart

P.S. grkbear, I trade the source code of my indi against the SECRET
Attached File(s)
File Type: ex4 DXTrade Daily Boxed Fibs&Pivots&Gann v 1.2.ex4   22 KB | 572 downloads
"The only successful substitute for brains is silence."
  • #3,580
  • Feb 9, 2008 10:42pm Feb 9, 2008 10:42pm
Interesting to see how on CADJPY the price went down along the gann line acting as resistance, touched it to the pip 2 times, then broke it to start an up movement and hit the daily 382 extension of thursdays high/low on friday pretty close to the gann of thursdays high gann line.
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"The only successful substitute for brains is silence."
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