Indicator Free Trading - Skunny

Hello SL,

Well you could join the tradefibs.com website...... but even that may not help you, I'll give you some rough figures......

There are 100 people there, 2 that I know of [maybe be as many as 4] mostly understand what is being taught....... and this is 3 months on from when the site was opened .......... if you like them odds, then maybe check it out.

Maybe that also helps answer anyones question as to why some of the tradefibs guys come here with such aggression...... if you were pulling consistent pips out of the market, even if your account size was small, knowing that the end of "working" was near..... ha ha..... would you be so irritable and easily upset........

Skunny only mentioned this very recently at tradefibs, and that is..... he is not going to hand out his system to anyone he does not know..... which is a fair comment....... you may also want to take that into consideration if you intend joining.

Do I think Skunny is able to trade at close to 100%......... I believe so, if you were to join what are the chances of you figuring out what it is that he is "suggesting" ........... well at the time of me writing this I'd have to say........ hmmmmmm ...............

Dean.

Anyone coming here looking for a system......... may I suggest reading this thread instead:

http://www.elitetrader.com/vb/showth...hreadid=113456


Dean.

I started reading this thread back in December. It really opened my eyes to the 138 extension and how it becomes a target and also a good place for a bounce from price. Skunny did not have to share anything here, but conveyed that he wanted to give us some insight to what he had learned from several years of observing price and behavior and how certain things happen over and over again. It was only one key that improved my trading, but really was an important key none the less. I use the 127 extension and retracement as well and can attest that it also becomes a very key target, and most times will be a bouncing point before the 138 comes into play. I think the sheer vast number of traders, some very new to the forex and some who are just trying to make pips but already have an extreme amount of knowledge about the market is the problem in this thread's effectiveness.
There is so much to learn about the market, the fundamental aspects and technical, that you can't just come as a newby and read this thread and get the answers you are looking for. It takes time and practice and in many cases, losses to get you to see where you are going wrong. The forex market or any market for that matter is tough to learn. One thing that I think has hurt many systems and even in this thread is trying to PREDICT where the market is going. Who has a crystal ball?....please let me know and I will pay top price, but I don't think one exists. When I stopped trying to forecast, and started to look for confluences of where price might have trouble getting through and let it come to me, is when I began to be consistantly profitable.
That is how I use the 127,138 and 162 extensions along with support and resistance. Again, I thank Skunny for introducing this extension to us here, but the real thanks should go to a friend of mine for even telling me about the thread.

I was a member of Skunny's site, trade fibs for a short while and let's just say that my ideals didn't jive with Skunny's so as it stands I am no longer a member. I wish him and the foundation well. I am not going to bash him for anything he is doing here or at his site. However, I don't think that questioning him or disgagreeing with him or other posters on certain things is being a jackhole. What gets me is in politics, religion, or sports and now in this forum we can't disagree because people become childish and start calling others names. Dial, for instance, has to resort to name calling. I am an adult and can determine which folks are here for learning and those here for disturbing the waters but do I have to stoop to their level and call them names? It takes a bigger person to rise above, and although Skunny and I had our differences I am not going to come here to bash him nor am I going to say it is wrong for folks to have legitimate questions or disagreements with him...and as a matter of fact, he welcomed the debate at the start of this thread. One think this thread did for me was get me using Vhands and observing price behavior. I took that and applied it with what I already knew (and started using discipline and money management) and now I am consitantly profitable.

For those of you who question Skunny's integrity or the goals of his foundation and are not part of trade fibs as a member and have had no interaction with him then I don't think you can make any judgements or claims for or against him. One thing for sure, the members of his website are in true allegiance to him as witnessed in this thread. Hey, that's OK isn't it? They are his possy. They should defend him. Heck, Rush Limbaugh's fans would also defend him and did so even when he was at his lowest and addicted to drugs... and he hasn't shared a way to make money with any of his followers like Skunny has.

The only thing I question about Skunny's claim to help other traders is why he only allows only a certain number to join and then does not accept any more new members. I am making no judgements as to why, for he is the only one who can answer that question. It seems however, that if your goal is to help other traders, you would be willing to accept as many as would follow, especially if the funds are in turn helping a charity. That's just my take and doesn't mean I am right. The thing is, we can all have opinions and opinions are like.....well I think you know the answer to that one. I like blue, you like red..so what? Does that mean you are wrong and I am right? Boy, I feel like I am talking to my 12 year old son, so enough of that.

There are several things at the start of this thread that can be helpful to you as a trader, but it's not the holy grail. The holy grail is learning price action and Skunny also said that in the beginning. If you do not know where to start, I suggest getting a mentor that knows how to teach price action. If you want to know one of the best, pm me and I will share who helped me understand price, fibs and profitable trading and he is a certified CTA trading institutional funds. You can then couple that knowledge with what has been shared in this thread and in my opinion, you partner that up with MM and you have the holy grail.

Thanks for the endurance of this long post.

when a candle only touches the 0 or 100 would you say this is enough evidence to indicate a direction or would it be best to wait for a penetration where the candle is visable above or below the support/resistance?

here's an example
would it be best to wait a little longer for stronger support/resistance?

I think the wine may be done, or this thread might be at it's vinegar stage because it sure it sour these days!

I post regularly over at auslanco using the principles I learned from this thread. Skunny said from the get go that he would not share his method, he even said we would never figure out what he does. If I remember right he said his motivation for starting the thread was to show us all that it is possible to trade 100%. Did he show us specifically how to trade @ 100%? No, but he left us with a few pieces of a crazy puzzle; a puzzle that when put together was what skunny called the moly quail.

The puzzle:
Skunny used a few key words that got me to where I am today, I don't know if I figured it out or not, but what I do works great. I'll go over a couple of those words again.

Cycle: This word is littered all over the thread, and I'll share my own view of it's meaning in regard to skunny trading. A cycle is started when a high or low point-100 or 0 is breached, and ended when the outer 38 extension is hit, then a new cycle begins. Cycles can be single candle cycles or multiple candle cycles. Skunny had us all start fibbing one candle at a time to see ext get hit as well as inside retracements.

Hinting: Skunny said that the market likes to give hints on where it is going. This is simple enough and a hint is simply when the 100 or 0 fib line is breached. Not touched but breached even by a pip.

I mentioned very recently on the auslanco thread that fibbing one candle at a time works, but a bad idea. It is not reliable because it takes no account of market direction. I have found that the most reliable way to trade these principles is to fib multiple candles and fib clean fractals or swings.

I like to start at a strong swing back on the chart a little ways with my method. A strong swing, meaning a sizable move that cuts sharply into new territory. This ensures in most cases that a cycle was just completed very strongly, with the 161.8 outer level being hit or even the 2.25ect. When you pick out a strong swing draw a fib from it to the last fractal
(see chart). Now notice the hinting candles and the proper ext being hit. The candle that hits the 38 ext is important, it may become a fractal if so thats your new fib starting point, if it is not a fractal the next fractal to come up will be the new fib cycle starting point. Draw your fib from the new fractal back to the last fractal and keep doing this, following the 38 ext. until you are in the present, and know which cycle is open. Just look at my charts, sorry if this is really confusing.

This is where I have gotten after 6 months of study and experimenting. I hope this helps some of you.

Scotty B

Here's the rest of the story

This uploaded funny...The bottom chart is the second to last one, the top is the last.

Hi nam, a touch and pull back does give you indication of S/R a penetration of 0 or 100 could be seen as a hint of where it could go.

You fibbed the last H1 candle only you have to zoom out to get the idea of direction in general if you only look or trade on a single H1 candle you have to switch down to lower TF to see whats in there.

I suggest to go to W1 chart and fib the last closed weekly bar then the last closed bar of the D1 now you can go to H1 and fib the last swing.
Once you've done that you are able to evaluate the situation. You can see the W1 already hit the T1 and is now acting as resistance but all over the GU is still bullish. The H1 swing fib's (orange) T1 is very close and there are not many pips to harvest unless you consider the T2 for your next target or the T1 of the D1 fib(blue).
On the down side you've got support at 1.9705/6 area.

interesting, what was confusing me was the on the last chart the lower fractals going down and touching the 0 level. I would mistake this for a change in direction.

Hi Scotty B, thanks for that post. I have been experimenting with something recently that results in charts that look _very_ much like the charts you have just posted. Specifically, looking at the recent high/low of a stoch and using that to guage where the S/R actually is rather than just the price alone. In other words, trying to more reliably determine when the market "hints" at one direction vs. the other.

You used the term 'fractal' to represent this on your chart. What exactly do you mean by that? Do you have a reference or anything regarding that? Thanks.

Well, I'd say we're QUITE a LOT different over at J16 then
(In a good way..)

You do realize that post sounds like "you get to pay for something you don't even get taught" though, right?

Anyways.

I've PM'd with Bobokus and posted around with Islander and drawn my own conclusions, so I'm done with any kind of interest.

IMHO there's nothing that'd be new to me hidden in any of this(been fibbin' it up for quiiiiite a while, including having looked at market harmonics and symmetry and boiled it down to what I believe is easily conveyed in a few lines to anyone and a handful of very, very simple rules. If you can't do that -what good is it? KISS equals functional, not complicated. I'm still seeing and learning this the hard way day in, day out. It's so incredible how simple things function once you start to see what's really happening. It's not any kind of magic, especially no secret hidden fib magic..).

Was just curious initially what things are about and whether there's anything unknown still left for the toolbox.

fractals are swing highs and lows. To help on mt4, go to the bill williams indicators and select fractals. This should help some.

When a large cycle looks to be in the process of retracing and such is it safe to view those fractals inside of the 0-100 as mini cycles that you can make money off of or should you always bet with the big cycle and be patient for the entry point?

THOSE FIB PROJECTION DOTS ARE STILL WORKING LIKE A CHARM...

http://i28.tinypic.com/2en847t.gif

fibs Still Working...

lower Fib Projections Hit...

If you follow the blue/red colored lines to the left then you'll see how the old fib projections levels were reached.

fibs Projections...

Hey Scotty,

Please do me a favour and send me a personal email.

Thanks,
Al
zebra7860

Folks,

What is this foundation Skunny set up? Is there a web site? Also, would Skunny respond to questions on the foundation?

Thanks
Al

Great thread! Is Skunny still around?