Indicator Free Trading - Skunny | Page 230 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

How to free indicator resources? indicator called from EA 7 replies

COT trading system with free indicator 297 replies

No Free Lunch but all the Free Coffee you can drink 736 replies

SWAP free, rollover free Broker? 15 replies

Attachments: Indicator Free Trading - Skunny
Exit Attachments

Indicator Free Trading - Skunny

  • #4,581
  • Dec 18, 2009 10:44am Dec 18, 2009 10:44am
Quoting bartstop
i'm guilty of that to. I'm trying to get in my head "trade what you see, not what you think". But it's really hard sometimes. I almost did it last night on that usdchf chart i posted.

i may try my hand at gbp/jpy's crazy cousin gbp/chf?
  • #4,582
  • Edited 11:10am Dec 18, 2009 10:56am | Edited 11:10am
Quoting Checkz
I DIDN'T QUITE UNDERSTAND WHAT YOU WERE SAYING.

hmmm pound yen is long... for 1000+ pips. So even if it goes short... it is long. Short moves are counter the overall trend. Short small and let longs rip.

A chap could just mutual fund it and buy dips through the spring(or whenver tgts are acheived) as well I suppose. I had a weekly chart on here someplace... let me dig it up.

TK

EDIT here is that chart I mentioned... she is a right beauty methinks. Go smoke those guys in the Gy threads boys!

http://www.forexfactory.com/showpost...postcount=4310

if you didnt know how this worked... you would have thought I was a bit daft to call 150 as immediate target.. today.. not so much. This is the power of fibs. We predict AND react. You have a bang up long entry if you were trading that chart. I know I did
  • #4,583
  • Dec 18, 2009 10:57am Dec 18, 2009 10:57am
Quoting thomknight
i would be over all targetting 164 and i might be shocked if it doesnt hit 190. Since the whole board on ff thinks 80... There is a fantastic chance i am right... Also the fibs to support it well.. At least 164 atm.

Doesn't also feel like 139 ish... Is the bottom... It does doesn't it.

where an instrument is going... Is decided well before it gets there. Sometimes years in advance. Decades even.

Gents... Many of you many never fully comprehend the genuis of skunny or the power of this and that is alright...for those few that do... It...
i don't quite understand what youre saying
  • #4,584
  • Dec 18, 2009 10:58am Dec 18, 2009 10:58am
Quoting Checkz
i may try my hand at gbp/jpy's crazy cousin gbp/chf?

Hmm... the spread is outrageous. I used to trade Pound Loon and Pound Swiss crosses, but really Pound Yen is the best pair to trade.

I have found the two pairs that suit me best are Pound Yen and Euro Dollar. The Aussie Dollar isn't bad either when you want some movement and are looking to leverage your bollocks off in a USD account since the margin reqs are light.

TK
  • #4,585
  • Dec 18, 2009 10:59am Dec 18, 2009 10:59am
Quoting ThomKnight
hmmm pound yen is long... for 1000+ pips. So even if it goes short... it is long. Short moves are counter the overall trend. Short small and let longs rip.

A chap could just mutual fund it and buy dips through the spring(or whenver tgts are acheived) as well I suppose. I had a weekly chart on here someplace... let me dig it up.

TK
  • #4,586
  • Dec 18, 2009 11:01am Dec 18, 2009 11:01am
Quoting Checkz
i don't quite understand what youre saying

Are you having a laugh at me? or if not... let me know what is confusing and I would be chuffed to clarify.

TK

EDIT... also even if it is going north.. track price and trade the price of the now with a right mind for the future.

and as always... trade your own charts! Since other folks are set up for their brains, not yours.
  • #4,587
  • Dec 18, 2009 11:23am Dec 18, 2009 11:23am
A meditation on trading mates. After spending.. 15,000 hours at least in fron of screens, you start to realize...no matter you method... trading only occurs at certain times.

This being said, don't kill yourself in front of a tradestation for 8-12 hours a day. It is not needed. Just get your fib set ups and wait and watch and you will be rewarded in a kingly fashion.

Get your fibs set up... and then wait and watch. I keep reading the Skunny quote in the market all the time bandied about here.. that is true.. but why on gods green earth would you want to. If that doesn't make sense....it will or should. Plus for US accounts, with the exit of hedging.. it will take some jigging to do it properly.

It seems a few are newish here... so take it or leave it. I sometimes take one trade a day. That is all you need. The goal is no losers and you build from there. No losers is as much about knowing what you are doing as it is no trading your britches off.

You will have bad stops and bad calls in the start but with time those go away. I stil will get stopped if I miscall the momentum on a move that i have highly leveraged (tight stop), but I am rarely ever wrong wrong these days and patience is a big part as is practice.

TK
  • #4,588
  • Dec 18, 2009 11:26am Dec 18, 2009 11:26am
That second post of i don't understand was a mistake my bad! So you are telling me that going short is wrong but buying right for gbp/jpy.
  • #4,589
  • Dec 18, 2009 11:36am Dec 18, 2009 11:36am
Quoting Checkz
That second post of i don't understand was a mistake my bad! So you are telling me that going short is wrong but buying right for gbp/jpy.


That is a really loaded question mate. right now our target.. if you are trading on Friday is 146.99 with the turn at 145.22 ( the stop) ...at least from my chart...

It did go short... it will go short and long on the way to that target but... over all the long trade is the steamer you want to be on.

Short trades will work and long trades will work... neither is wrong... but from my charts.. do not look to go massively , apocolyptically short anytime soon.

You ahve to follow price and I suspect I will be going long and short all the way to 164 and from there... higher. It just depends on what price is doing right now and staying in the current of price.

TK

EDIT
I do not advocate taking my trades or using my charts or trading Fridays... Mondays... or New York Session.
  • #4,590
  • Dec 18, 2009 11:52am Dec 18, 2009 11:52am
This is what I see.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 16 KB
  • #4,591
  • Dec 18, 2009 11:55am Dec 18, 2009 11:55am
Quoting bartstop
This is what I see.

bingo.

EDIT

When you see that.... you might go ahead and amp up your leverage... with a tight stop as opposed to factoring risk to the 0 line.
  • #4,592
  • Dec 18, 2009 12:01pm Dec 18, 2009 12:01pm
Quoting ThomKnight
bingo.
I'm starting to like gbpjpy again. Now that I'm starting to understand her insanity. Thank you TK.
  • #4,593
  • Edited 4:24pm Dec 18, 2009 12:56pm | Edited 4:24pm
Quoting bartstop
I'm starting to like gbpjpy again. Now that I'm starting to understand her insanity. Thank you TK.

Even the most seemingly insane or complex are truly simple if you know how to look at them I think. there is an underlying order to all things.. you just have to know how to look at it(market view)...in my experience.


Following GY's moves and they build and only trade it and get in tune with it and you will never need anything else ever again.

On this specific trade we are conversing about, you can take the trade of of price action, take the trade on the rebreak of the signal line OR take the trade on the break of the candle that showed respect of the 38.

The reasoning for this is momentum catcing the train when it is going where you know it is going. ...but trading on a Friday is just bad news lest you get caught over the weekend. Also never be afraid to exit full or partial position with a profit even if you know where it is going it is about winning not being "right" even if you are and once you lose the mind set of ... I found a trade I have to milk it or this is the big winner.

TK
  • #4,594
  • Dec 18, 2009 2:42pm Dec 18, 2009 2:42pm
You certainly know how to make an appearance! I've burst 3 blood vessels trying to decypher your posts!

The threads been developing quite nicely. I should think it will quieten down a bit over the next couple of weeks.

Quite a strong view on the EUR then. I do not believe the US are out of the woods yet either and certainly not the UK, we've got the Marx bros in charge here.

C u later. MD
Keep smiling
  • #4,595
  • Dec 18, 2009 3:18pm Dec 18, 2009 3:18pm
Quoting Misterdaz
You certainly know how to make an appearance! I've burst 3 blood vessels trying to decypher your posts!

The threads been developing quite nicely. I should think it will quieten down a bit over the next couple of weeks.

Quite a strong view on the EUR then. I do not believe the US are out of the woods yet either and certainly not the UK, we've got the Marx bros in charge here.

C u later. MD
Righteo! Let me know if you have any specific question. I don't mean to speak in riddles... just sometimes i find from looking backwards at Skunny's post... they don't make sense until you know what you are doing.

He was never talking in riddles...at the time it seemed that way though.

TK
EDIT - no the US and UK are not over the hurdles yet, but the collapse of the Anglo empire is coming...just not tomorrow.
  • #4,596
  • Dec 18, 2009 5:36pm Dec 18, 2009 5:36pm
Agreed TK, I think we better start learning Mandarin...

Well, I like to think I have uncovered a great deal about Skunny's fib style, a lot more of his posts are starting to make sense to me. I've been doing a lot "ahh" and "ohhh yeahs" lately. I did a lot of "f$ck it" yesterday but that's another story (read earlier post).

It's intersting to see that if you can perceive the basic idea of this you can use it in varying ways, your application is different to Compass and possibly different again to how Dunkan uses it. Sorry to make assumptions but just trying to qualify a point. In any event I can now see that having this knowledge is a very powerfull tool and if used wisely could make oneself financialy sound.

Even walking the fibs across hourly candles, although I wouldn't trade this way, still exhibits the uncanny power of their targeting ability. When I say walk for any others that are interested I do not me per candle, I mean per completion.

TK, I do find some of your posts perplexing but I will endeavour to work them out myself first. Please never take offense to any of my posts, anything I say is always in jest!

We must remember, this has to be fun, right?

MD.
Keep smiling
  • #4,597
  • Dec 18, 2009 6:18pm Dec 18, 2009 6:18pm
Quoting Misterdaz
My latest shot of EURUSD. Black is weekly, red is daily. Interesting to see how price reacts between the different time value levels.

Attachment

MD.
Red fib reached 138.2 ext . Took it's time .


SK
Attached Image (click to enlarge)
Click to Enlarge Name: 1812 eu4.JPG Size: 182 KB
  • #4,598
  • Dec 18, 2009 7:40pm Dec 18, 2009 7:40pm
Quoting Misterdaz
Agreed TK, I think we better start learning Mandarin...

Well, I like to think I have uncovered a great deal about Skunny's fib style, a lot more of his posts are starting to make sense to me. I've been doing a lot "ahh" and "ohhh yeahs" lately. I did a lot of "f$ck it" yesterday but that's another story (read earlier post).

It's intersting to see that if you can perceive the basic idea of this you can use it in varying ways, your application is different to Compass and possibly different again to how Dunkan uses it. Sorry to make assumptions...
Hiya Mate,

Yes without fun it means nothing. Trading is boring though, but learning can be fun. All you should be look for is 100% targets ( not necessarily chart every move in the market just things you understand), fibs to respect to the TICK or observably to the TICK.( my charts if you zoom in are a little off but "look" perfect. ). If price is wafting through your fib... I would submit your fib is not working. If it hits target on something like that... or after blowing through you 61.8 on a retrace.. it is not following that fib.

LIke Skunny said fibs are SR ( hence his harping on it) and a kind of break out predictor of target ( giving you trend and a target). Best of luck to you mate in your learning. This is the most powerful trading method ever...unless perhaps you can actually move the markets yourself.

Spend the weekend testing

TK
  • #4,599
  • Dec 18, 2009 7:43pm Dec 18, 2009 7:43pm
Quoting skong
Red fib reached 138.2 ext . Took it's time .


SK
A lot of fibs on there brother, do you need that many?


TK
  • #4,600
  • Dec 18, 2009 7:50pm Dec 18, 2009 7:50pm
as promised id like to post a chart of where your fib shouldve been to avoid the 112 pip loss but i need to see a chart of where your failed fib was...post it and ill be glad to give you my take on your trade
1 trader viewing now