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Indicator Free Trading - Skunny

  • #4,181
  • Feb 17, 2009 3:41pm Feb 17, 2009 3:41pm
I'm a little lost. There are no retracements in either GM chart. Are you trying to line up prior price action to the fib levels?

Also in the first chart there doesn't seem to be any "pip perfect" alignment at all.

One more thing that I've never understood about those who religiously follow fibs in forex. How the heck do you do it? The data is imperfect. No one knows what the real prices are. There is no centralized price point like in the stock market. How can we expect "perfection" in this type of environment?

Quoting Scotty B
Hey,

My chart was not meant as an explanation but as a key to lead you to understanding what I have been presenting. I mentioned in another post that a fib is truly on the right spot if and only if you get a perfect retracement to one of your inner fibs. I am speaking of a pip perfect retrace. We do this with out anchor points anyways, meaning we line them up pip perfectly, so why not do this with our inner fib levels? The inner fib area has to be correct for the fib to be correct.
  • #4,182
  • Feb 17, 2009 3:42pm Feb 17, 2009 3:42pm
Quoting jgadefelth
i shall read the pdf and thanks bouth of you for your answears.

about the threadstarter sounds odd look at james 16 i dont think he ever returns to FF because he have a great deal of members i think hes strategy works.

So why did he come back if the thread starter if his method was working ?

just a thout.

best regards
I don't know what is going on with Skunny, me and him are not associated in any way. I don't know why he would choose to close his site. His plan (according to his website) were to train 100 people at a time. He stopped accepting members a while back because he was at the 100 mark. If you do the simple math, his website had the possibility of sucking in 120 grand per year at full stride. That is about how long his website lasted. (a genius way to come up with that kind of money) You can make a killing as an individual trading with that kind of dough. I am not saying that this was the whole story, but it's entirely possible. Also, when you are in the business of selling secrets, the polotics and policing become unmanagable, it can only last for so long. Just my thoughts...
About James16..He's a good guy and to my knowledge he does drop in to his thread every now and then.
  • #4,183
  • Feb 17, 2009 3:48pm Feb 17, 2009 3:48pm
Quoting Life of Pi_p
I'm a little lost. There are no retracements in either GM chart. Are you trying to line up prior price action to the fib levels?

Also in the first chart there doesn't seem to be any "pip perfect" alignment at all.

One more thing that I've never understood about those who religiously follow fibs in forex. How the heck do you do it? The data is imperfect. No one knows what the real prices are. There is no centralized price point like in the stock market. How can we expect "perfection" in this type of environment?
Sorry, by retracement I meant pullback. Also, in the first chart, the pip perfect hit was at the lower 0/100 level. Thats why I used the same pullback in the second chart when I pulled the fib down.

In our charting we don't have absolute perfection, but we do have working perfection. The data on my platform works fine for what I do.
  • #4,184
  • Feb 17, 2009 4:15pm Feb 17, 2009 4:15pm
it is alive?!?!
  • #4,185
  • Feb 17, 2009 4:30pm Feb 17, 2009 4:30pm
Quoting trader365
it is alive?!?!
It is indeed! But she needs some life breathed into her.
  • #4,186
  • Feb 17, 2009 5:57pm Feb 17, 2009 5:57pm
Quoting Scotty B
It is indeed! But she needs some life breathed into her.

looks like u r trying to give it mouth to mouth

Good Trading
  • #4,187
  • Feb 18, 2009 3:41am Feb 18, 2009 3:41am
Hi Scotty
This has me completely confused me, unless you have matched the fib to a previous swing low which is not visible on the chart?
Quoting Scotty B
Hey Shiva,

No I don't mean to have your S/R lines in place before you fib. I just mean that all the old places prices bounced off of a long time ago have significance. I am not talking about the major places of support and resistance either, rather, I am speaking of all places that price bounces off of. Really what it boils down to is this: What price does in the past, directly affects where it can go in the future. I am going to attach a chart that shows a fib in what I think of as it's Genesis. I've posted these a couple times before and nobody...
  • #4,188
  • Feb 18, 2009 3:54am Feb 18, 2009 3:54am
Is there any trades today with your system?

Regards
{Promotion Removed}
  • #4,189
  • Feb 18, 2009 9:40am Feb 18, 2009 9:40am
Scotty b i have read the pdf i have a lot of ?????????????? around this strategy where do i move from here ?


best regards
  • #4,190
  • Feb 19, 2009 1:26pm Feb 19, 2009 1:26pm
Here is something interesting..
Attached Image (click to enlarge)
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Has what you wanted to see made you blind?
  • #4,191
  • Feb 19, 2009 6:42pm Feb 19, 2009 6:42pm
i have puzzled over this myself, and thought i was onto it a while ago.
Before I discuss my findings I will just say from my analysis using this,
GBPUSD short term to reach 1.4208,
Longer term to reach 1.5157.
  • #4,192
  • Feb 19, 2009 7:41pm Feb 19, 2009 7:41pm
scotty, when you say price must act on the inner fibs to the pip is this somthing skunny mentioned I dont remember him saying price must obey the inner fibs? cant remember...
  • #4,193
  • Edited 4:40am Feb 20, 2009 4:40am | Edited 4:40am
Quoting fry2010
scotty, when you say price must act on the inner fibs to the pip is this somthing skunny mentioned I dont remember him saying price must obey the inner fibs? cant remember...
Hi,
I remember that Skunny said that a Fib must be validated (by reaction to one of the 3 major inner lines) before being traded.
What I never worked out, is whether it had to react to them after the 0 to 100 extremes had been made, or if it was OK if it reacted to the inner lines whilst the 0 to 100 was in process of being formed.
Also I don't recall him saying that the needed to be validated 'to the pip', so I figured that any decent support/resistance near the inner lines was sufficient - but I may be wrong!

Ian
  • #4,194
  • Feb 20, 2009 5:13am Feb 20, 2009 5:13am
thank you ianfoster. I will have to try and find that post of his.
  • #4,195
  • Feb 20, 2009 7:29am Feb 20, 2009 7:29am
ok another short term target 1.4538.
wont happen till next week if at all.
  • #4,196
  • Feb 20, 2009 7:33am Feb 20, 2009 7:33am
The charts below should answer a lot of questions. They relate to my post from last Saturday.

Scotty B
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  • #4,197
  • Feb 20, 2009 7:44am Feb 20, 2009 7:44am
the way I had been drawing it was to move the fib to the candle where the 1.382 extension hit. If price closes above the 100 line, then wait for price to hit the 138.2 again and move the fib to that candle once it closes.
Ill show an example.
  • #4,198
  • Edited 8:01am Feb 20, 2009 7:50am | Edited 8:01am
The first shows the end result on 4h.
The last 3 are how it got there.
There are a few instances where it doesnt work out, but move up a time frame and it is usually from a move that completed there.
The other problem is that with different time zones and data feeds they can be very different to each other.

This does also go against a couple of things skunny said such as entering when price touches the 100 - 0 line. With this I wait for the candle to close above the line, which misses many opportunities mainly on smaller swings, but stops you from entering the larger swings that dont work out. Also it does not give as many opportunities as you wait for say candle to close above 100 line on daily, then wait for 4h, and again wait for 1h before you enter. This really narrows down the number of possible entries you can have yet skunny mentions you can trade all day 24/7.
Attached Image(s) (click to enlarge)
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  • #4,199
  • Feb 20, 2009 8:25am Feb 20, 2009 8:25am
You are describing another 'flavor' of fib. Also, you are wise in your observation that waiting for a close aka 'break', of the 0/100 is a good indicator of advancement to the target. Also, unbeknown to a lot of the bobokus traders, what you presented can be used to fib any clip of time and you can trade that information. The only place I disagree with you in your method is in the moving of the fib after the target has been reached. I prefer to stretch the fib to the first fractal aftar the T1.
  • #4,200
  • Feb 20, 2009 8:58am Feb 20, 2009 8:58am
thanks Scotty, i have just tried it using the fractals and have to say it works just as well if not better. Just interested if you use this method urself with the fractals or do you use somthing different? I have had little success with this, hardest part is handling an incorrect trade. If you close out at say the 38.2 retracement then price can return and hit taregt but if you dont price can go all the way to the 0. Its difficult to trade. Any pointers?

One thing though skunny didnt mention fractals, so he must use somthing else, if he was not bullsh*****.
Skunny was last active last month do you think he is likly to post here again? Or is he sitting on a carribean island with all the cash he made?
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