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Indicator Free Trading - Skunny

  • #4,661
  • Dec 23, 2009 10:12am Dec 23, 2009 10:12am
Quoting Scotty B
Yes..lol..It took me three + years to break. I credit guys like Darkstar for pointing me towards the light. It's amazing what kind of doors begin opening when you gain a true understanding of how the market works. Even the simple interpretation of price action (apart from all the common patterns) with orderflow in mind will make a person a profitable trader in no time. It's pretty easy to see what price is going to do when you really know whats going on behind the scenes.
Yes SB,
Well said. I wondered if you ever closed that long you had on the gpb/jpy at around the 234.00 level or some level on up there...because you were thinking it HAD to go to the 138. You might not even remember that post, but that was a classic in my book, no disrespect intended.
  • #4,662
  • Dec 23, 2009 10:45am Dec 23, 2009 10:45am
Quoting 4X4EVER
Yes SB,
Well said. I wondered if you ever closed that long you had on the gpb/jpy at around the 234.00 level or some level on up there...because you were thinking it HAD to go to the 138. You might not even remember that post, but that was a classic in my book, no disrespect intended.
Yeah..haha..One thing I like about FF is that your evolution as a trader is recorded here. Even if you don't keep a trade journal or something like that, all you have to do to see if you are progressing in your trading education is to go start reading your early posts..Pretty funny stuff. I really had no clue what I was talking about most of the time, I was more hopeful than anything.

Trading is the most difficult thing I've ever undertaken and I have vowed to never quit. I've been pleasantly surprised throughout the journey how trading has changed me as a person for the better. It forces you to deal with so many of your flaws as a person. It's been worth it for that alone.
  • #4,663
  • Dec 23, 2009 11:04am Dec 23, 2009 11:04am
Quoting Scotty B
Trading is the most difficult thing I've ever undertaken and I have vowed to never quit. I've been pleasantly surprised throughout the journey how trading has changed me as a person for the better. It forces you to deal with so many of your flaws as a person. It's been worth it for that alone.
Has what you wanted to see made you blind?
  • #4,664
  • Dec 23, 2009 11:22am Dec 23, 2009 11:22am
Quoting 4X4EVER
Do I finally here a hint at supply (selling) and demand (buying) as in ANY market conducting business??? That's what it's all about. There is no method going to predict when George Soros dumps the pound again, however, we can be right a majority of the time because ole George doesn't do that very often....Thank Heavens... S/R is just the reading of supply/demand. If there is a holy grail, that's it!
So true 4x4ever.

This comment is very rarely seen around, but if more people simply paid attention to it, there would be many more succesful traders.

I know it alone has made me one..... Merry Christmas
  • #4,665
  • Dec 23, 2009 12:41pm Dec 23, 2009 12:41pm
Quoting Scotty B
Likewise Thom, no hard feeling towards you personally, but I do believe you have something to prove. I say that because you are making an extraordinary claim here. If the 100% jargon is not a huckster statement, then prove it. I don't really care to know the specifics as if I have a double motive in wanting you to prove something to me so I can use it for my own benefit, but why not start making trade calls? You've already made one regarding GY. I challenge you to get just 10 trades right in a row. All you need to do is post the direction, the stop...
I am game!
  • #4,666
  • Dec 23, 2009 2:56pm Dec 23, 2009 2:56pm
Quoting ThomKnight
I am game!
Thom,
I have not read many of your postings, but as it being the holidays I have gotten into this thread again, for lack of market action more than anything. However, I do think that one can be right 100% of the time for a certain length of time...but I ask you to recall the global meltdown that was a hot falling knife. Do you not agree that could happen again maybe in the reverse? That had nothing to do with fibs but the other F word....fundamentals. Anyway, I don't believe anyone can win 100% of the time, but heck, if you can pick em that good, you might be the first.
I guess there's always a first at everything. I am interested to seeing the developments here.
  • #4,667
  • Dec 23, 2009 3:38pm Dec 23, 2009 3:38pm
Quoting 4X4EVER
Thom,
I have not read many of your postings, but as it being the holidays I have gotten into this thread again, for lack of market action more than anything. However, I do think that one can be right 100% of the time for a certain length of time...but I ask you to recall the global meltdown that was a hot falling knife. Do you not agree that could happen again maybe in the reverse? That had nothing to do with fibs but the other F word....fundamentals. Anyway, I don't believe anyone can win 100% of the time, but heck, if you can pick em that good,...
G'day!

Before this turns into a me vs the world thing.. which it isn't. I put my stops in the wrong place on leveraged trades. I DO make mistakes. IF you look back... I do take losses but very rarely if ever do I have operator error. What I mean by this is i will back out of a trade for a better entry... again mis pick a final jumping point to target and get stopped... but the fib hits target without breaching the opposite boundary.

Could a nuclear bomb explode on US soil? sure. My criteria is simply stay away from known news events if trading 1hr and less. I don't personally pay attention to fundamentals outside of that as too me it is all poppycock and misdirection. Fibs are SR and TA and TA encompasses FA. No one goes from TA to FA, but many go from FA to TA.

The financial meltdown was seen coming a mile away for most of us no? For me TA/fibs explain fundamental events and news happens in timed order to further these telegraphed moves. IMO.

I find fibs. I do not mechnically moves things areound in a set order charting out every market move. I am sure you could do that somehow though.

The definition for me of a 100% fib is this... seeing something set up in a way you understand and it pierces which lets you know it will go to target before crossing the lower boundary. So my thought is this.. before anyone gets in a tizzee I will tack up trade charts with explanation and you can go from there. I think when you say things without potentially knowing what it looks like the mind runs wild. So lets take a breath sip a whisky and reconvene next year!

The question to ask is what would you do if you knew you had even one solitary trade that would not fail? again barring nuclear attack. chuckle. but lets hold off on the back and forth and just see how it plays out.

Cheers!

TK
  • #4,668
  • Dec 23, 2009 3:58pm Dec 23, 2009 3:58pm
GY yes... these trades are dead.., but the point is.. follow the market in the now. this was no accident or happenstance from a 61.8 to 38 to target.

Regardless of longer term targets... and even if you did not trade this information but found it after the fact.. it gives you a perfect spot to looks for smaller short set ups.

So here is the first and second pos 61.8 fibs from that point. They just happen to look very nice but also illustrate a to the tick hit means nothing really you hae to just watch and see if you get a signal going the other way. If you doing you are in the current of the market.

So if I was daft enough to be trading now and jut using this information... I would be looking for a long set up. ..until the low broke.

You might be in a long pos from an earlier triggered trade and this would not invalidate it at all. Upside targets on triggered fibs still stand. This gets in depth so we will just be follow price for the trade charts. ..I think.

TK
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  • #4,669
  • Dec 23, 2009 4:39pm Dec 23, 2009 4:39pm
Quoting ThomKnight
GY yes... these trades are dead.., but the point is.....

i am with scottyb on all of this, this in my opinion cannot be done at 100%.

i was a member at trade fibs---which was a joke. Hell, i was one of the people that was supposed to help "teach" the others, only problem was we were never "taught" anything.

anyway

TK,

before you pulled from the bottom why would you not have had this one on.

which failed

http://i45.tinypic.com/1z4al21.gif
  • #4,670
  • Dec 23, 2009 8:51pm Dec 23, 2009 8:51pm
Quoting !!!!!!amabo
i am with scottyb on all of this, this in my opinion cannot be done at 100%.

i was a member at trade fibs---which was a joke. Hell, i was one of the people that was supposed to help "teach" the others, only problem was we were never "taught" anything.

anyway

TK,

before you pulled from the bottom why would you not have had this one on.

which failed

http://i45.tinypic.com/1z4al21.gif

I tried to become a member of skunny's group awhile back because after reading this thread I still wasn't getting the hang of how to trade the Skunny way. But to me it seems like it's excluded to everybody else. Also What was Skunny's real name? The reason why I asked was I came across an Article written by a guy named Dick Thompson on Forex Trading and he was describing Skunnys method but he didn't describe it as a 100% fib winner he talked about the 1.382 fib ext being hit 70 to 90% of the time. This guys article actually lead me here to Factory Forex because at the end of the article he tells us that here is where it all began. I therefore started to wonder if this guy was Skunny or a student of Skunny. As I stated before this thread has helped me but there are too many unanswered questions that to this day still exist. I have found more success following his single weekly candle method than any other way but I desire to know more than I know right now. I hope that the ones who are here can solve the riddle that Skunny left us with. I am glad you posted here becasue I always wanted to here from someone who actually was a member of tradefibs and this has helped me realize that maybe I need to look for a better way to trade. I'll still be following along and if I ever solve the riddle I'll make sure I give everyone here the answer but to be honest I don't think there is an answer to be found.
  • #4,671
  • Dec 23, 2009 11:49pm Dec 23, 2009 11:49pm
Quoting Checkz
I tried to become a member of skunny's group awhile back because after reading this thread I still wasn't getting the hang of how to trade the Skunny way. But to me it seems like it's excluded to everybody else. Also What was Skunny's real name? The reason why I asked was I came across an Article written by a guy named Dick Thompson on Forex Trading and he was describing Skunnys method but he didn't describe it as a 100% fib winner he talked about the 1.382 fib ext being hit 70 to 90% of the time. This guys article actually lead me here to...
http://whois.net/whois/tradefibs.com.com
  • #4,672
  • Dec 23, 2009 11:55pm Dec 23, 2009 11:55pm
Quoting Scotty B
http://whois.net/whois/tradefibs.com.com

This other guy must have been a Student of Skunny
  • #4,673
  • Dec 24, 2009 1:29am Dec 24, 2009 1:29am
Quoting Scotty B
http://whois.net/whois/tradefibs.com.com
If you google skunny's real name, which I'm sure you have Scotty, there are several hits for a realtor in St. Paul, Minesota by the same name. I'm still laughing, my sides hurt. In the uk we despise estate agents (realtors), they are the lowest of the low as far as salesmen go (well actually it's bankers of late but seeing as I'm one of those less said the better).

I gonna sound like a hypocrite but I had my suspicions early on in thread. I won't say too much more on the subject as the basics of all this fib stuff seem to be working quite well for me so the jury's out on this as far as I'm concerned. I know one thing though, I would never have given someone I met in a chat room $100 a month!

MD
Keep smiling
  • #4,674
  • Dec 24, 2009 1:33am Dec 24, 2009 1:33am
Hey Compass, please don't tell me you sell houses!

One thing I did find odd early on is Skunny never gave any background on himself, and, nobody bothered to ask!

MD.
Keep smiling
  • #4,675
  • Dec 24, 2009 1:47am Dec 24, 2009 1:47am
Quoting Misterdaz
If you google skunny's real name, which I'm sure you have Scotty, there are several hits for a realtor in St. Paul, Minesota by the same name. I'm still laughing, my sides hurt. In the uk we despise estate agents (realtors), they are the lowest of the low as far as salesmen go (well actually it's bankers of late but seeing as I'm one of those less said the better).

I gonna sound like a hypocrite but I had my suspicions early on in thread. I won't say too much more on the subject as the basics of all this fib stuff seem to be working quite well...
Also noticed that he may have been a poker player? Quite Interesting!
  • #4,676
  • Dec 24, 2009 2:25am Dec 24, 2009 2:25am
Skunny's birthday is coming up, if you believe post #3633...which suggests his real name might be Jesus.

  • #4,677
  • Dec 24, 2009 9:34am Dec 24, 2009 9:34am
So what's the consensus?

1) What Skunny had to say was "100%" true.
2) Skunny wasn't honest.
3) North Pole is indirectly proportional to South Pole.
4) Trading is futile, invest your money elsewhere.
5) None of the above.
  • #4,678
  • Dec 24, 2009 10:04am Dec 24, 2009 10:04am
Quoting shiva
So what's the consensus?

1) What Skunny had to say was "100%" true.
2) Skunny wasn't honest.
3) North Pole is indirectly proportional to South Pole.
4) Trading is futile, invest your money elsewhere.
5) None of the above.

Good question..It would be a mix between 1 and 2. Fibs are useful but not 100% predictive. They do fail, even skunny's version. I have not done the math, but I'd put fibs in the 50-70% success range, which is still alright for what they are, but there are definitely greener pastures out there.
  • #4,679
  • Dec 24, 2009 10:23am Dec 24, 2009 10:23am
Thanks Scotty. now please beam up this one for me

What in your opinion is the most important ingredient to successful trading?

Psychology?
S/R?
Ability to read naked PA

Now a X'mas request, please don't say "It's a combination of all three"

Quoting Scotty B
Good question..It would be a mix between 1 and 2. Fibs are useful but not 100% predictive. They do fail, even skunny's version. I have not done the math, but I'd put fibs in the 50-70% success range, which is still alright for what they are, but there are definitely greener pastures out there.
  • #4,680
  • Dec 24, 2009 10:50am Dec 24, 2009 10:50am
Shiva, I think it's psychology, more specifically, discipline. Get that right then you can manage your trading better.

I still like the fibs though, scam or no scam. Did my 3rd trade in a row today using fibs for targets and it hit and reacted at the target level, uncanny. Maybe we should start a new thread, let's call it "Realtor free trading".

MD.
Keep smiling
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