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Indicator Free Trading - Skunny

  • #3,581
  • Feb 9, 2008 11:42pm Feb 9, 2008 11:42pm
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.

Well.....you did ask....so here's my 2 cents worth.

No offense, but this sounds like sour grapes to me.

Skunny started this thread with a basic premise that we all need to remember:

1) He was not going to teach a system.
2) He was not going to tell us everything he does.
3) He was not going to show us how he trades.
4) He has only shown us (so far, I hope) a few % of what he knows.
5) He has said that practice and repetition is the key.
6) He said he was giving us tools to make us traders and not indicator slaves....find our own "moley quail".
7) He said he wanted this thread to remain positive or he was history.

Quote
Is it just me or is it extremely selfish to come to an area of sharing and bragg
I really don't think this is bragging. In fact, I look at this as great news. Someone claims to really be getting what Skunny is talking about! That means there is hope for everyone else to "get" it too with enough time and study. I would view this as motivation......not bragging.

Every class I've ever been in, I've noticed that some "got" the material right away and others struggled a bit. In the end......all that stuck with it passed the class and learned something. Only those that felt the work was not worth the reward quit the class.

Quote
...about figuring out what so many are struggling with while refusing to share.
...2 questions....

1) Are you sure you have "struggled" with this as long as Grkbear has? If not.....how much longer should you have to "struggle" till he or anyone else tells you everything they know? Does someone who has, say, studied forex for years and worked for 100's of hours running fibs have the obligation to tell somone who happens into forex last week and in their 2nd post here want to know "everything"?

2) Refuse to share?.....all I saw him say is that he understood why people who got this don't just give it away. Did you ask him any questions? He might be willing to give some guidance. How many people that used to post at the outset of this thread are not here anymore? What if they "got" it and are now trading well? Should they be condemned? Or did Skunny just succeed at helping them? Didn't Skunny say something like only 1/2 might get this and be able to trade it successfully and even he didn't know why (paraphrasing)?

Quote
Keep in mind..Skunny started this thread to give back and help others.
Keep in mind the points that I made earlier about the premise of this thread.

Quote
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
Not sure if you meant it that way but this comes of as mean spirited.

I am not here to speak for Skunny or anyone on this thread. These are my feelings.

I really would hate to see this thread turn into a lot of jealous sniping. There is far too much of value here to learn. I really believe that what Skunny has already provided is more than enough to point the way.

This thread is about self-discovery. Grkbear claims to have discovered something that works for him. He's been at it for months.....going for days without sleep. Good for him! Will it work for you or anyone else? Who knows? With only what has been given so far, IMO, if someone can not improve their trading 500%......they just aren't trying hard enough.

Skunny's whole methodology has been to drop hints.....give general directives. It's all there. Read his posts.....eat drink and sleep his charts. There are enough hints out there.

Seriously......I'm not trying to break bad on you here. Just feel that condemning someone for actually getting what Skunny is teaching is not in the spirit of this thread. Perhaps put some more pressure on the teacher if you feel that is the right thing to do....not the students.....I think the teacher can handle the heat!

P.S. Skunny is too classy to mention this so I'll throw it out there again. I would strongly urge anyone who is having success with what is being taught here to show your appreciation with a contribution to Skunny's charitable foundation.....I'll be cutting a check this week!
  • #3,582
  • Feb 10, 2008 12:16am Feb 10, 2008 12:16am
I couldn't agree with this more. Even if he (Skunny) told how he traded, some would still get it wrong. Let's face it, when things go wrong, it's easier to point the finger in the opposite direction than to look in the mirror and accept blame. Forex factory has tons of strategies, and for the most part, over 50% of them work. Find something that works for you and stick to it. Stop waiting for someone to give you all of the answers, and do your OWN research!

There is more than enough information in the first 100 pages of this thread to improve your trading! If you haven't figured it out yet, re-read those pages again!
  • #3,583
  • Edited 4:23am Feb 10, 2008 1:41am | Edited 4:23am
Hi DX_Trade!
I find your indicator interesting, especially the Gann-lines to spot trend and retracements.
However, there is a problem with pivots.
Very often you find in a trend a strong day and then a weak day or even two weak days (when price is doing nothing just retracing a little) then a strong day again.
If a pivot system takes the calculation only from the last days move you will be wrong nearly all the time. In your example you show two strong days in a row. But this is not always the case.
Is it possible to use the ATR(14) for the calculation of the pivot range?
The central pivot point also is often far away from price movements in a strong market and should be replaced by a different calculation IMHO. Question: are you using the traditional calulation (h+l+c)/3 or a different one in your indicator?

Another observation: If I put your indicator on 1 h TF only, it plots the Daily Low and High Exits also in other TF. Was this your intention?
/ ... clarifying decisions ... /
  • #3,584
  • Feb 10, 2008 1:42am Feb 10, 2008 1:42am
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.
Yes, it is just you. Like Nick, I am finding what Skunny has done is to point us towards the right path, not shove us along- it is up to each of us to determine his/her own way. I find it to be motivational when someone gets it, it lets me know I am on my way as well. Instead of thinking he refused to share, be grateful he did share, by posting his experiences, and confirming it can be done. He could just as easily have not done that, and left.
  • #3,585
  • Feb 10, 2008 2:16am Feb 10, 2008 2:16am
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.
hnic828,

I happen to stumble across this thread last Tuesday evening I believe. I have been trading options part time for over 8 years and forex for 3. No one handed me anything at anytime. I had to work for it. When I want something I go after it. How many hours have you studied forex and poured over charts? I would put my house on it that it pails in comparison to the time I have spent doing it and this does not include learning to trade options. I used to work in middle management putting in 60 to 70 hours a week consistently for the last 8 years. I then used to come home and spend another 3 to 4 hours a day studying and pouring over charts. This is not an exaggeration by any means. I have put my time in. I have sacrificed my personal life along with my families (I have a wife and two kids). 7 months ago I started trading full time and continued studying to sharpen my skills. I had always known I was overlooking something in trading. I have stated this is not as a pitty
party but fact. You do not know me or my character and your post has insulted me. You have not been with me or any other trader in their journey to find what works for them and be consistently profitable, nor the psychological and financial stress that comes along in doing this. You happen to waltz in this thread read a little and then get upset because someone has found their key to the moily quail and you are upset because they wont give it up. I wanted to share my excitement with others that have had the same moment. It truly is life changing imo. Perhaps I do have it and perhaps I don't but I do know this, you have soured my experience and perhaps turned me off to posting. This is one of the reasons I don't like to post. Skunny did not hand anything over to anyone on this thread. As stated he would help us find our way
in our trading. He has done that for me and I am sure for a few others in this thread and I am very grateful for that. As for not helping, did you look at my post #3539 in where I give clues in what to look for? Perhaps not, you were to busy clicking on the "last page" tab trying to get something for nothing and insulting because they didn't give it up. So here you go, I will give it up. There is no secret in trading! Perhaps that will be hard to believe but I am sure the experienced and profitable traders will tell you the same thing. Read the thread and study the charts and tools given and maybe you will also get it and have an aha moment, but then again if you were on the road to the journey most of us have been on you would not have posted what you did which brings me to the conclusion that your aha moment is a long ways off if you even have the stamina to get their. Here is a final piece of advice, short cuts won't get you their. As far as your quote "Enjoy your AH HA. If you don't give back, it probably won't last.", you don't know what I have given back to my circle of influence. I truly wish you luck with your endeavors in forex and hopefully one day you can have an aha moment.

Sincerely,

Grkbear
  • #3,586
  • Feb 10, 2008 2:31am Feb 10, 2008 2:31am
Quoting capitalist88
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.

http://youtube.com/watch?v=w4wg4joEASA

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
. By the way, it is is spelled "Bachelor".
  • #3,587
  • Feb 10, 2008 2:33am Feb 10, 2008 2:33am
Quoting DXTrade
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
I see you got it. At least someone can read between the lines!
  • #3,588
  • Feb 10, 2008 2:36am Feb 10, 2008 2:36am
I would like to thank the following for speaking up on my behalf:

Brunite
dedhed
dollabill
Stevehopwood
arralou
and any one else I might have missed.

  • #3,589
  • Feb 10, 2008 4:56am Feb 10, 2008 4:56am
Quoting DXTrade
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.
Thanks for posting the BoxedFibs etc, DXTrade.

I have it running on vhands and have noticed how the Gann lines appear to predict price movement if the price goes in that particular direction. They do not actually predict the direction, but ambeginning to think they might be a help is setting tp and sl points. We shall see.

Exciting times.

  • #3,590
  • Feb 10, 2008 5:12am Feb 10, 2008 5:12am
I have used the following chart that Skunny posted as an example and reference to help my studies over the last few weeks.

http://www.forexfactory.com/attachme...0&d=1197659075

I have had a few questions about this chart, to which I think I now have figured out the answers:

1. Aren't we suposed to Fib back up a swing, so the Fib should be \ not / ?

2. Why doesn't the Fib line up at the bottom of the lowest bar ?

3. Whay did Skunny sudenly change from trading Short to Long (I don't think the Fib had finished) ?

Re-read the posts around the one linked above (post 176) and then see if you can figure our your own answers to the questions I have posted above. Looking at this chart helped me a lot, I think it can do the same for everyone.

Have fun
20 pips a day isn't too much to ask . . .
  • #3,591
  • Feb 10, 2008 5:13am Feb 10, 2008 5:13am
Quoting SteveHopwood
Thanks for posting the BoxedFibs etc, DXTrade.

I have it running on vhands and have noticed how the Gann lines appear to predict price movement if the price goes in that particular direction. They do not actually predict the direction, but ambeginning to think they might be a help is setting tp and sl points. We shall see.

Exciting times.

Steve, as far as I understood the gann lines... they won't tell you any targets or direction. I f I understood skunnys posts they may help to act as a time prediction... the targets are hit anyway but very often you will see that the targets are hit at the cross of a gann line with a fib extension.
Thats why I posted the cadjpy chart as example. the price was due to go up after the small retrace...and eventually hit the daily 382 extension. Not because of the gann lines. But with the gann lines we maybe able to tell at what approximate time of the day the target will be hit.

Just watching these lines right now... not trading them. But that would be the top of the top if you could tell: "my 60 pip trade will be profitable on Monday... 10:30am GMT" LOL
"The only successful substitute for brains is silence."
  • #3,592
  • Edited 6:03am Feb 10, 2008 5:20am | Edited 6:03am
Quoting dagoods
CAN ANYONE HERE GIVE A HINT HOW THAT FIB ON POST 137 GO THERE?
Hi Dagoods,

IMHO the start point of Skunny's fib is a specific point that fits in with Skunny's "rules" for pulling a fib. I have looked at the other recent posts and it seems that the fibs have just been pulled on various hi/lo's to see what fits. I apologise in advance if I am wrong. Skunny said "start at the beginning" or words to that effect. The details that enabled me to logically place this fib ARE in his posts.
One thing I'm not certain of tho is the apparent innaccuracy of my chart. The fib targets on the monthly can be several pips out, sometimes more. My assumption here is that its acceptable in this timeframe. I believe the accuracy we are looking for in our target hits relates more to the hourly or 15m TF's. Does anyone else have views on this? Anyway, my fib ends up in the same place as Skunny's and thats the main thing. I just want to let people know that the info IS there, hidden in plain sight! But it did take me a lot of trial and error before it clicked. I believe I have picked up several of Skunny's hints but I am still a way off getting it completely but the constant searching and trying is making me see lots of things I otherwise would have missed. All credit to your methods Skunny.
  • #3,593
  • Edited 11:21am Feb 10, 2008 7:48am | Edited 11:21am
Quoting Skunny
I'm not showing exactly how to trade this, but maybe this will help you all see where this idea goes on an hourly basis.

If you look at the candles on the example.

1) trade to 138
2) enter 1 position
3) enter 1 position at 61.8 and 1 at 38.2 inner fib lines

This example looks easy but only because there was a new cycle starting on the swing I pulled. So don't think you can pull like I did here. You need to learn the flow before you pull a fib.

Remember when I said watch when REAL S/R is broken? "Pin Bar"?. Pin bars are cool things,(yippee) but you need to know where they happen or they're useless.
Dagoods

Remember, Skunny always asks people, did you walk that fib? how did you arrive at that fib? etc.

Skunny says, that was a new cycle, he had worked form somewhere in the past to that point, or he would not have said that a new cycle was beginning.

He's also told us to start somewhere in the past, but not too far back, and walk our fibs, otherwise we can't be sure where to place a fib.

Fib placements are in relation to the last completed fib and the new S or R forming following the completion of the last fib. Remember, Skunny says patience after a fib is completed, wait for PA to tell you where to draw your next fib.

Skunny has mentioned numerous times about pin bars and other candles like dojis being extremely important in the placement of fibs.

Seb123, yes I agree, Skunny said he enters on the H1 and manages on the 15M tf.
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #3,594
  • Feb 10, 2008 8:00am Feb 10, 2008 8:00am
Here's another Skunny Said: You need to clear your head and start over if you aren't profitable.

I received this quote this week, a good reminder of the key to learning.

"He who cannot change the very fabric of his thought will never be able to change reality."– Anwar al-Sadat
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #3,595
  • Edited 9:36am Feb 10, 2008 9:11am | Edited 9:36am
Quoting BarneyDog
Dumb question comming...EJ = EU*UJ?
LOL - Barney - in the old days (very old) I'd have suggested that you pick up your slide rule and work it out - so now its your calculator and guess what.....EURUSD X USDJPY = EURJPY....viz: 1.4507 X 107.32 = 155.69 from Fridays close. Again, USDJPY will "move" the cross more than EURUSD will http://www.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
  • #3,596
  • Feb 10, 2008 10:56am Feb 10, 2008 10:56am
OK guys, after much thought I am considering starting a trading thread based on what I have been posting during the past couple of weeks.

This would be for 5m and 15m IFib type charts on GBPJPY and its two majors - Cable and USDJPY - initially without Gann lines.

As I trade from approx 1am EST (6am GMT) until around 1pm EST (6pm GMT) input from experienced Skunny traders who watch the late US and Asian sessions will be needed if the Fibs are to be continually walked and kept active.

On the 5m chart, last week I counted 20 moves, with only 1 loss - hardly surprising that was on Friday.

I would not be posting actual entries as Skunny Traders will easily find their own and I'm not looking for a "pip race" - just consistant profitable set ups from which we can take our share of the available pips.

I would hope that the methodogy that I currently use can be improved and IMO hands on RT use is the next step for many of us who have been following this thread since the early days.

If anyone is interested in joining me in this journey please send me a PM -thanks.

PS I will continue to contribute to this thread, just without the live trading

http://www.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
  • #3,597
  • Feb 10, 2008 11:14am Feb 10, 2008 11:14am
Quoting grkbear
. By the way, it is is spelled "Bachelor".

Fixed. Nice catch!

This has been a special report from the Bee Spelling (BS) network. We now return you to your regularly scheduled moldy pail. :
  • #3,598
  • Feb 10, 2008 11:55am Feb 10, 2008 11:55am
Nice Idea,here are my PM [email protected]
I whish you, are many Pips for your new Trading Thread.
Best regards
  • #3,599
  • Edited 1:15pm Feb 10, 2008 12:23pm | Edited 1:15pm
Quoting RaptorUK
I have used the following chart that Skunny posted as an example and reference to help my studies over the last few weeks.

http://www.forexfactory.com/attachme...0&d=1197659075

I have had a few questions about this chart, to which I think I now have figured out the answers:

1. Aren't we suposed to Fib back up a swing, so the Fib should be \ not / ?

2. Why doesn't the Fib line up at the bottom of the lowest bar ?

3. Whay did Skunny sudenly change from trading Short to Long (I don't think the Fib had finished) ?

Re-read the posts around the one linked above (post 176) and then see if you can figure our your own answers to the questions I have posted above. Looking at this chart helped me a lot, I think it can do the same for everyone.

Have fun
excellent post raptor! very much in the spirit of this thread IMO! I will try harder!(not sure if that is possible but.... ) it would help me a lot to follow your logic if you could post 2 or 3 charts

current gj would be really nice lol just want to see if mine lines up with yours.... eu gu it doesnt matter.... any chart would be helpful


thanks to all of you that have responded to my posts much appreciated

congrats to everyone who has had aha moments

have had a couple myself....just not super duper molier ahas (more like semi-ahas) like locating where s/r lies and fibbing accordingly

my trading has improved tremendously thanks to Skunny and all of you guys so my sincerest heartfelt thanks

But for me...
i still have lots of work to do


Islander I very much look forward to your thread!

PS is there a color scheme that allows the dojis to stand out on higher timeframes???? need to see dojis to test piprs doji post trading.... thanks all
  • #3,600
  • Feb 10, 2008 1:20pm Feb 10, 2008 1:20pm
Islander,

Living the dream! the thread is a reality. I will swing by to harass you about not being pip perfect here and there. You can swat me with a wad of euros LOL Nice work Captain! Of course with a crew list like that how do you find time to hit the lap top?


It is nice to see a whole new group of Skunnions come in and rock it out it reminds me of being a young lad all 1.5 months ago . You guys will get it if you bust hump and stick to vhands if you are not PASR traders heck I am and I needed it. If you are Grkbear it might take you a whole week LOL! the guy made me feel "special", short bus special LOL, but hey all roads lead to rome eh?

So much good stuff in here mmmmmmmm good.

Sizz
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