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Indicator Free Trading - Skunny

  • #4,921
  • Jan 3, 2010 5:31pm Jan 3, 2010 5:31pm
Quoting trader365
from post 4902

Hey, Not sure about most of what u just said but I will respond to what I can.

To say that you know which way the mkt is going, as if it is a certainty, is great if it works for you. But I personally feel that pumping that kind of hope into the minds of newer traders is a huge disservice. Maybe you know where the mkt is going all the time...maybe it is your money management that avails you that privilege, I'm not sure but I'm glad you are making $$. So maybe it is just my opinion that there are "no guarantees" in the mkt but...
Great post (again I should ad) about what trading really is.
To me is just a game of probabilities.What are the odds for mkt to go up or down.? Of course you can get clues about what mkt. is about to do from PA reaction on specific levels, S/R , fibs and many others.But to get to the point of being 100% accurate is just not realistic because as traders we depend on way to many factors to take in consideration. Every trade you take you have a risk of going against you.Sometimes is more, sometimes less but nobody so far came (as far as I know) with perfect set up.
In my opinion fibs(as someone I rely heavily on them) don't predict anything and I don't find anything magic at all.They are just tools which can help in your trading.They can be used in many different ways and you can get projection on where the mkt may go next but is no guarantee that will happened.Honestly the most important thing in trading I found out lately is PA.You know how to read PA, you have a big step forward in your trading career .I won't say anything about Skunny because I never actually interfere with him and ,since he is gone it wouldn't be fair, but I will tell you this.He was trained on 1 on 1 session by somebody who proved as a great trader and educator.What's in this thread has nothing to do with what he learned in private.
  • #4,922
  • Jan 3, 2010 5:33pm Jan 3, 2010 5:33pm
Quoting Misterdaz
The whole Skunny thing is always at the back of my mind...I do have my doubts from time to time. If he was on the level you'd think he would come back and defend himself..
Just wanted to say to everyone that T365 is the real deal (a seasoned, profitable trader).. It would be very wise of you to listen to him.

Yep, still open to old Thommy boy, but if it sounds too good to be true then well....
  • #4,923
  • Jan 3, 2010 5:41pm Jan 3, 2010 5:41pm
Quoting Scotty B
Just wanted to say to everyone that T365 is the real deal (a seasoned, profitable trader).. It would be very wise of you to listen to him.

Yep, still open to old Thommy boy, but if it sounds too good to be true then well....
I think you're 100% right!
  • #4,924
  • Jan 3, 2010 5:52pm Jan 3, 2010 5:52pm
You know Scotty it's pretty ironic there's only one voucher left for Skuny on his personal page. Can you guess who it is?

MD.
Keep smiling
  • #4,925
  • Jan 3, 2010 6:04pm Jan 3, 2010 6:04pm
Quoting Misterdaz
You know Scotty it's pretty ironic there's only one voucher left for Skuny on his personal page. Can you guess who it is?

MD.
You have to recall what old scotty says about skunny and fibs...

#1: I don't hate/dislike Skunster M'gee, I just think that he's not X% (you guess the value of X) I'd love to collaborate with Skunny if he'd come out from under which ever rock he's hiding under..or hibernating under (he's an upper Midwesterner like myself and it's been a heck of a cold winter)

#2: I think fibs are neat and I use them all the time, but not....Refer to #1

Skunny needs more vouchers..I'm surprised mine is the only one.
  • #4,926
  • Jan 3, 2010 6:17pm Jan 3, 2010 6:17pm
Quote
I hope you understand my thought process here and yes, I am open to ideas about trading but over the last several years I have really honed in on what makes the mkts tick and I can tell you....that it is not fibs.

been reading this thread coz am a fib cum PA trader. I disgree with the statement above!

from my 3yrs trading experience, i will say that the market is all about support and resistance. s/r are just like bus stops, price gets there and it determines wot next, maybe a rejection or blast through.

Fib is a tool that helps to confirm how stong the level is and excellent tools for price projection.

Many fib traders, dont even understand how this fib works, fib is not holy grail but i will say a leading indicator if you understand how the market waves.

again, u cant trade this market successfully, if u dont understand basic trend analysis, hh and hl = bull and hl and ll = bear and u must be smart enough to know when the market is about to change course when the trend is violated.

for me, most people fib wrongly, hence they have bad result

and to you scotty, how do u know dat somebody is a seasoned and profitable trader? is it by wot they say in the forum? for me, i will say somebody is profitable if i can see his live statement for atleast 6months. we have witnessed severally, where the sussposedly seasoned trader, messed up trader's acct when they are offered to managed fund.

one should be careful in this field, so many uncertainty and it gives rooms to many scams, (not calling anybody here a scammer) but just saying the reality, if u guyz can say skunny is not profitable, then who is on FF, i rmba when i joined FF newly, he was almost worshipped

newbie shd be careful, wot works is displayed on the charts. watch the chart, look for events that keep repeating itself over time and trade it. could be simple ema bounce off s/r

but wot i know that works from experience is wot j16 teaches............. the golden PPZ and u could add some spice to it to mak it urs.

have a wonderful day all
mike
  • #4,927
  • Jan 3, 2010 6:31pm Jan 3, 2010 6:31pm
Quoting Naijafx
been reading this thread coz am a fib cum PA trader. I disgree with the statement above!

from my 3yrs trading experience, i will say that the market is all about support and resistance. s/r are just like bus stops, price gets there and it determines wot next, maybe a rejection or blast through.

Fib is a tool that helps to confirm how stong the level is and excellent tools for price projection.

Many fib traders, dont even understand how this fib works, fib is not holy grail but i will say a leading indicator if you understand how the market...


I think what T365 was referring to is that fact that you can't trade with 100% accuracy based on fibs.
  • #4,928
  • Jan 3, 2010 6:32pm Jan 3, 2010 6:32pm
Quoting Scotty B
You have to recall what old scotty says about skunny and fibs...

#1: I don't hate/dislike Skunster M'gee, I just think that he's not X% (you guess the value of X) I'd love to collaborate with Skunny if he'd come out from under which ever rock he's hiding under..or hibernating under (he's an upper Midwesterner like myself and it's been a heck of a cold winter)

#2: I think fibs are neat and I use them all the time, but not....Refer to #1

Skunny needs more vouchers..I'm surprised mine is the only one.
Scotty, wether you thought it or not I wasn't having a dig, just in my english sense of humour it is ironic considering some of your recent posts.

Oh and thanks for the you know what, I'm humbled.

Goodnight and godbless.

MD.
Keep smiling
  • #4,929
  • Jan 3, 2010 6:40pm Jan 3, 2010 6:40pm
Quoting Naijafx
been reading this thread coz am a fib cum PA trader. I disgree with the statement above!

from my 3yrs trading experience, i will say that the market is all about support and resistance. s/r are just like bus stops, price gets there and it determines wot next, maybe a rejection or blast through.

Fib is a tool that helps to confirm how stong the level is and excellent tools for price projection.

Many fib traders, dont even understand how this fib works, fib is not holy grail but i will say a leading indicator if you understand how the market waves.

again,...
Thanks Mike.. after 3 years in the biz I'm glad u found out that fibs help you. Yes the mkt is all about S/R but what creates the S/R?? It is all about value not about a magic line that appears from a fib tool.

Scotty B and I have a dialogue outside this thread, so please be careful there...Scotty is a good man with good intentions.....nothing more, nothing less.

We all do what works for each of us as individual traders. All I am trying/hoping to get some folks to see is that there is much more to the mkts then tools on a chart. THE CHART IS THE MKT. The story is being told right in front of u.

I don't trade at 100% and never ever claimed to. Besides...thats too much pressure. Imagine thinking, every trade might be the one to break your winning streak. I have taken some healthy arse kickings in the past and have since learned to keep them smaller....even if the trade does go my way, if my stops are placed and I get stopped......next

Good Trading
  • #4,930
  • Jan 3, 2010 6:44pm Jan 3, 2010 6:44pm
Quoting speedarad
I think what T365 was referring to is that fact that you can't trade with 100% accuracy based on fibs.

Actually I was referring to the fact that trading at 100% is basically impossible.....depending on what 100% is.
Do u mean 100% profitable on every trade? or every day? or evey week? or every month? or every quarter? or every year?

There's a HUGE difference

Good Trading
  • #4,931
  • Jan 3, 2010 7:02pm Jan 3, 2010 7:02pm
Quoting trader365
Actually I was referring to the fact that trading at 100% is basically impossible.....depending on what 100% is.
Do u mean 100% profitable on every trade? or every day? or evey week? or every month? or every quarter? or every year?

There's a HUGE difference

Good Trading
I thought I said the same thing!?!

Sorry!
  • #4,932
  • Jan 3, 2010 7:40pm Jan 3, 2010 7:40pm
Quoting Skunny
THERE IS A 100% WINNING WAY TO TRADE
But you'll never do it. BECAUSE YOUR HUMAN. But it's possible.

Quoting Skunny
Let me address the 100% winning trades thing.

I tell you this, achieving 100% over a predetermined period of time is possible........

He did mention a predetermined period of time. TK has posted 2 trades that have been 100%.
  • #4,933
  • Jan 3, 2010 7:49pm Jan 3, 2010 7:49pm
Watching this one really close. Thinking about placing a sell limit at the 38.2 line.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad h4.gif Size: 37 KB
  • #4,934
  • Jan 3, 2010 8:29pm Jan 3, 2010 8:29pm
Quoting speedarad
I thought I said the same thing!?!

Sorry!
Sorry dude.... I thought u meant not 100% with fibs....but leaving open the possibility that you can trade 100% using other methods.
Anyway, I think you get my sentiment by some of my recent posts...it's all good

Good Trading
  • #4,935
  • Jan 3, 2010 8:39pm Jan 3, 2010 8:39pm
Quoting bartstop
He did mention a predetermined period of time. TK has posted 2 trades that have been 100%.
So did skunny mean to give the trade a predetermined period of time to develop or we should give ourselves a predetermined period of time until we can trade at 100%?...like he does?

Good Trading
  • #4,936
  • Jan 3, 2010 8:57pm Jan 3, 2010 8:57pm
Quote
Yes the mkt is all about S/R but what creates the S/R?? It is all about value not about a magic line that appears from a fib tool.

I think listening to sam seiden, will give some insight, support and resistance, simply put are price level where there have been reaction in the past, it get stronger if the price level have been reacted to severally.

the higher the time frame the more its relevance.

fib doesnt create s/r level, but once we have s/r level at good fib ratio, we start to watch PA a that level.

am a confluence trading;

once i see several thing saying same thing at those level, i go in knowing fully well that i can get 6 winners of 10 with good and strict money management.

all about trading is on the chart!

nothing more!
  • #4,937
  • Edited 9:09pm Jan 3, 2010 8:59pm | Edited 9:09pm
Quoting trader365
So did skunny mean to give the trade a predetermined period of time to develop or we should give ourselves a predetermined period of time until we can trade at 100%?...like he does?

Good Trading
I believe he meant that if you know what the "perfect setup" is, you could win 100% of your trades during a given period of time. The fact that he added "predetermined period of time" leads me to believe that even he can't trade 100% ALL the time.

At this point I think we are splitting hairs on this 100% thing.


Bartstop
  • #4,938
  • Jan 3, 2010 9:50pm Jan 3, 2010 9:50pm
E/U going to 1.4248, calling it, used fibs.. gold.
  • #4,939
  • Jan 3, 2010 10:03pm Jan 3, 2010 10:03pm
Quoting Naijafx
I think listening to sam seiden, will give some insight, support and resistance, simply put are price level where there have been reaction in the past, it get stronger if the price level have been reacted to severally.

the higher the time frame the more its relevance.

fib doesnt create s/r level, but once we have s/r level at good fib ratio, we start to watch PA a that level.

am a confluence trading;

once i see several thing saying same thing at those level, i go in knowing fully well that i can get 6 winners of 10 with good and strict money...
So that is my point...the fib doesn't create the s/r level. The s/r level is there because buyers and sellers see value or exhaustion...period.

so confluence is fine but a fib as confluence?? The fib might line up with the truth about what is happening in the mkt but the fib it is not the truth.

If it makes u feel better as guidance, I'm glad it works for u. All I am trying to say is that the mkt is an auction. If u think of any business, a product or service is sold, hopefully for a profit. If another company is selling the same thing for less, u have a decision to make....lower ur price or lose the sale. So if all the companies that sell the same products don't want to lose business, then they will lower their prices. Eventually, there will be a bottom in which no company can go below w/o losing $$ The companies that can't compete will go out of business.....as ridiculous as this sounds, you get the picture.

The mkt is no different. Supply and demand. Eventually, prices will move until all the smaller guys are out(stop running etc) and the mkt then finds a place of fair value and you will notice the sideways action. Once all they buyers and sellers pair off and they are finished doing business at that price level....off we go again.

Again....thinking of the mkts this way might shed some light on why the mkts do what they do. Fibs or no fibs.....the mkt is based on supply and demand and a fib level is not the cause of that supply and demand. If ur fibs line up there anyway...so be it....but why do u really need them if they are lining up with s/r anyway....chicken, egg?

Good Trading
  • #4,940
  • Jan 3, 2010 10:05pm Jan 3, 2010 10:05pm
Quoting bartstop
I believe he meant that if you know what the "perfect setup" is, you could win 100% of your trades during a given period of time. The fact that he added "predetermined period of time" leads me to believe that even he can't trade 100% ALL the time.

At this point I think we are splitting hairs on this 100% thing.


Bartstop
LOL...I agree....it's the 100% thing that needs to be split

Good Trading
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