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Indicator Free Trading - Skunny

  • #4,701
  • Dec 25, 2009 2:49pm Dec 25, 2009 2:49pm
Quoting Misterdaz
Merry Christmas Shiva. I think we need to take everyones opinions and form our own. Anyway, I've mentioned this guy a milllion times before but worth another go. Go and look on FXstreets website for Sam Seidens webinars. He teaches pure support and resistance trading and talks a lot about Market orders. He's a member of some paid website but he doesn't try to promote it. The is no cryptic clues to his teachings, he tells you exactly how he trades.

MD.
Good stuff.
  • #4,702
  • Dec 25, 2009 9:44pm Dec 25, 2009 9:44pm
Quoting grkbear
ScottyB,

Thank You for your honesty. I want to also add I am NOT looking for any training, lol. I have trading methods that are very successful and profitable as many people that know me can attest to. At the end of the day, it is the trader that makes the difference imho.

Enjoy your holidays.

Grk
Hey Grk,

Yeah I know you don't need any training, I meant that more as a blanket statement to everyone who reads the thread. I know that you are a creative madman. You came up, if I'm not mistaken, with a very creative technique. I really got a kick out of that. In all my screen time, I found something interesting that relates to what you discovered. I'd like to pass that along to you sometime.

I was also in a dialogue a while back with a friend of yours. For the life of me I cannot remember his name, but he spoke very highly of you. I'll look through my old emails and try to find it.

If you would Grk, PM me your email.
  • #4,703
  • Dec 26, 2009 1:45am Dec 26, 2009 1:45am
Scotty, I need your opinion on the attached EUR/JPY daily chart. There are 3 lines A,B and C, which of these would be breached first? My guess is A. Is this wishful thinking? Yes you guessed right I am holding a short position

I am guessing that Highs and lows are broken alternatively so the next in line is A.

EUR/JPY Daily (FXCM)

Attached Image (click to enlarge)
Click to Enlarge Name: ej daily.gif Size: 21 KB
  • #4,704
  • Dec 26, 2009 5:58am Dec 26, 2009 5:58am
Quoting shiva
Scotty, I need your opinion on the attached EUR/JPY daily chart. There are 3 lines A,B and C, which of these would be breached first? My guess is A. Is this wishful thinking? Yes you guessed right I am holding a short position

I am guessing that Highs and lows are broken alternatively so the next in line is A.

EUR/JPY Daily (FXCM)

Attachment
Hey Shiva,

I am away from home right now so I am relying on dailyfx for charts, but I'd be careful with that short of yours. Where did you enter the market? If the last high holds momentarily and we get a pullback, I think we would see 130.60, to 130 as places of exit with less DD. The market is intentionally long though at the moment, buyers are holding their positions and the new batch of scape goats that are stuck short will move the the market further up when 131.90ish is broken.

At the moment, I would not be short. Could the market turn and go your way, absolutely! But right now the most significant and practical thing that will pull the market back is buyers begining to cover their positions. This could turn the market if those who are in charge begin poking the herd with cattle prods going in the other direction. But right now the real market exists within about a 35 pip range. I would not be surprised if we moved right back up to 134.50ish.

Do me a favor though and don't make a decision because of me. I leave myself the privledge of being wrong. It's really all about knowing where flashbang liquidity consumption will take place.

Bang bang bang,

Scotty b
  • #4,705
  • Edited 12:22pm Dec 26, 2009 12:00pm | Edited 12:22pm
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
Well.. I suppose you would have if you didn't know where you were in the market blindly.. using the 61.8 property. You can get away with not back work for complete form fitting or single candle trading though.

You have to do some back work for most Skunny fibbing styles.

This is my experience.

TK

Edit: the concept here is this... the past dictates the future. Nothing is truly random. Everything that happened before dictates what will happen now and in the future. If we can decipher it or not is another thing. The market yes does moves because buyers or sellers but we are dealing with knowing what they will do and where they are because we are illuminating the full market structure.

So that being said.. you need to go ahead and see what happened before for most things before you trade now.
  • #4,706
  • Dec 26, 2009 9:55pm Dec 26, 2009 9:55pm
Hey Scotty, thanks for the headsup, I am in from 131.40 (short) with stop at 132.20 Hoping for a down week. I did look at the JPY futures charts and things don't look very encouraging for me lol

Thanks once again
Hope you are enjoying the holidays.
Quoting Scotty B
Hey Shiva,

I am away from home right now so I am relying on dailyfx for charts, but I'd be careful with that short of yours. Where did you enter the market? If the last high holds momentarily and we get a pullback, I think we would see 130.60, to 130 as places of exit with less DD. The market is intentionally long though at the moment, buyers are holding their positions and the new batch of scape goats that are stuck short will move the the market further up...
  • #4,707
  • Dec 27, 2009 7:19am Dec 27, 2009 7:19am
Quote
Hey Scotty, thanks for the headsup, I am in from 131.40 (short) with stop at 132.20 Hoping for a down week. I did look at the JPY futures charts and things don't look very encouraging for me lol

Thanks once again
Hope you are enjoying the holidays.

I am also bearish as we are seeing a retracement, the link has so much to say about my little analysis

hope i make little sense

http://www.fibpatternstraders.com/?p=515
  • #4,708
  • Dec 27, 2009 3:11pm Dec 27, 2009 3:11pm
Sorry but [email protected] was returned undeliverable????
  • #4,709
  • Dec 27, 2009 5:08pm Dec 27, 2009 5:08pm
skunny has a gmail account but i can not remember what is was...sorry!
  • #4,710
  • Edited 6:26pm Dec 27, 2009 6:02pm | Edited 6:26pm
G'day Mates!

Ima going to ( prolly) let London open her doors and then start trading for the week if I see things I like.

Anyone got a kettle on the boil?

TK

EDIT: that is unless something wonky happens here right quick.
Anyone else watching 145.82?
  • #4,711
  • Dec 27, 2009 6:32pm Dec 27, 2009 6:32pm
Quoting ThomKnight
G'day Mates!

Ima going to ( prolly) let London open her doors and then start trading for the week if I see things I like.

Anyone got a kettle on the boil?

TK

EDIT: that is unless something wonky happens here right quick.
Anyone else watching 145.82?
TK,
I'm watching this.

SK
Attached Image (click to enlarge)
Click to Enlarge Name: 2712 ej.JPG Size: 168 KB
  • #4,712
  • Dec 27, 2009 6:45pm Dec 27, 2009 6:45pm
Quoting skong
TK,
I'm watching this.

SK
Be carefull going short.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.gif Size: 22 KB
  • #4,713
  • Dec 27, 2009 7:01pm Dec 27, 2009 7:01pm
Quoting shiva
Hey Scotty, thanks for the headsup, I am in from 131.40 (short) with stop at 132.20 Hoping for a down week. I did look at the JPY futures charts and things don't look very encouraging for me lol

Thanks once again
Hope you are enjoying the holidays.

I hope will work out for you but you're going against the short term trend and it could bounce back up anytime so be carefull.
  • #4,714
  • Dec 27, 2009 7:02pm Dec 27, 2009 7:02pm
Quoting skong
TK,
I'm watching this.

SK
Gidday All,

Here's my chart on the current E/J action...for what it's worth

HR
Attached Image (click to enlarge)
Click to Enlarge Name: ej_281209_1hr.jpg Size: 90 KB
  • #4,715
  • Dec 27, 2009 7:06pm Dec 27, 2009 7:06pm
Quoting bartstop
Be carefull going short.
Crickey!!
Did you move the market and invalidated my fibs ?

I see your point. I'm just looking at the smaller swings.
  • #4,716
  • Dec 27, 2009 7:16pm Dec 27, 2009 7:16pm
Quoting highroller
Gidday All,

Here's my chart on the current E/J action...for what it's worth

HR
Now we wait.
  • #4,717
  • Edited 8:26pm Dec 27, 2009 7:16pm | Edited 8:26pm
Quoting skong
Crickey!!
Did you move the market and invalidated my fibs ?

I see your point. I'm just looking at the smaller swings.
I am with you on this trade with swing low TP then enter long trade. 129.10 TP
  • #4,718
  • Dec 27, 2009 7:18pm Dec 27, 2009 7:18pm
Quoting skong
Crickey!!
Did you move the market and invalidated my fibs ?

I see your point. I'm just looking at the smaller swings.

I did the same thing last week. Lost 100+ pips because I didn't pull a fib on the D1 chart.
  • #4,719
  • Dec 27, 2009 7:27pm Dec 27, 2009 7:27pm
Quoting mgs1f
I am wit you on this trade with swing low TP then enter long trade. 129.10 TP
Oh! I 'm not in the trade. The 0 line was not breached so there was no trigger. The movement on the next candle invalidated the fibs I placed. In any case I'm not trading yet until I finished backtesting.

Barstop, Ouch!.
  • #4,720
  • Dec 27, 2009 9:10pm Dec 27, 2009 9:10pm
Quoting skong
Oh! I 'm not in the trade. The 0 line was not breached so there was no trigger. The movement on the next candle invalidated the fibs I placed. In any case I'm not trading yet until I finished backtesting.

Barstop, Ouch!.
Maybs... wait until those brits open up.. for me... it isn't about nabbing the 5 at 2 it is about waiting for the 10 to come to you... then you pile on the coals.

I think... people think you trade everything 100%.. and maybe.. but for me it is waiting until I see that 100% set up... I have no rush nor hurry...

To quote an american movie (brilliant) when there is doubt there is no doubt.

As a craggy old bull... we waited.. and I still wait. but now I am not worried about my daily loss limits. Chuckle.

For Scotty B etc.. I wait. When it sets I don't falter though. I do not trade every move. The ones I do I know won't fail. The sheer brilliance of knowing you will not lose on an order may be lost , but it shouldn't.

TK
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