Indicator Free Trading - Skunny | Page 256 | 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

  • #5,101
  • Jan 7, 2010 7:28am Jan 7, 2010 7:28am
This might help to.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd signals.gif Size: 19 KB
  • #5,102
  • Jan 7, 2010 7:36am Jan 7, 2010 7:36am
Actually, I have pages of handwritten notes here based on posts from Compass. His method does seem to make the most sense to me at the moment. I think you're right about choosing one style and sticking with it. So if I was to focus on compass's single candle method, I need to know how the fibs are set up. Some use 23.6, some don't. Some draw the 0 on top, some don't. One fib, two, or 12? I've had so many fib configurations it ain't even funny. I see some that have them labled 'go short' 'go long'. I completely understand that I'm not going to trade exactly like anyone else, even if I'm using the same method. I do appreciate you fellas helpng me to get on the right road. Thanks a bunch.

ed
  • #5,103
  • Jan 7, 2010 7:39am Jan 7, 2010 7:39am
Quoting edkilp
OK barstop......looking at this, price retraces from our...

When price bounces off the 0 line and crosses the 23.6 line, there's a pretty good chance it's going to make it to the 50 line, but not always. So there's one trade. Then we got a buy signal at the 61.8 line, that SHOULD take you back to the 0 line or higher. Thats another trade. Then bounced back to the 23.6 line and gave another buy signal. At some point this thing SHOULD go to the 138 extension. Just remember, nothing is guaranteed.


Bartstop
Attached Image (click to enlarge)
Click to Enlarge Name: ej trades.gif Size: 25 KB
  • #5,104
  • Jan 7, 2010 7:42am Jan 7, 2010 7:42am
This was something I wasn't thinking about originally. What is the basic use for the fib tool on a chart?

MD.
Keep smiling
  • #5,105
  • Jan 7, 2010 7:43am Jan 7, 2010 7:43am
Quoting edkilp
Actually, I have pages of handwritten notes here based on posts from Compass. His method does seem to make the most sense to me at the moment. I think you're right about choosing one style and sticking with it. So if I was to focus on compass's single candle method, I need to know how the fibs are set up. Some use 23.6, some don't. Some draw the...

The 0 line should always be in the direction of the swing. If the swing goes up, the 0 should be at the top. If the swing goes down the 0 should be at the bottom. I'm sure I've posted some charts with it backwards........I've come a long ways in the last 2 weeks.


Bartstop
  • #5,106
  • Jan 7, 2010 7:48am Jan 7, 2010 7:48am
Quoting bartstop
This might help to.
OK, I'm looking at that on my chart. What makes the invalid signal invalid? Do you know that in hindsight, or did you know that as it happened? If I was guessing (which I am) I'd say the valid signal is valid bacause it doesn't break the 23.6. Yes? no? maybe so? I'm not sure what I'm looking for,and I'm also starting to wonder if i'm wasting everyone's time!

ed
  • #5,107
  • Jan 7, 2010 7:53am Jan 7, 2010 7:53am
Quoting edkilp
One fib, two, or 12? I've had so many fib configurations it ain't even funny.
Another thing I do. Go to the daily chart with period seperators on. That will show you the high and low for the previous month. Pull a fib there. Price may bounce off of those lines and ingore your smaller fibs. So that's something to keep in mind.


Bartstop
  • #5,108
  • Jan 7, 2010 7:56am Jan 7, 2010 7:56am
Anyone know what happened to Skunny? He isn't active here anymore, I went through about 120 posts from the beginning and didn't find any real substance to learning anything you can't already discover on your own....I was hoping to find some meat and potatoes to trading naked...but I gave up after the 121st post. I scroll to the later parts and Skunny's not even around...I guess this thread has taken a life of its own?
In Charts We Trust!
  • #5,109
  • Jan 7, 2010 7:58am Jan 7, 2010 7:58am
Quoting edkilp
OK, I'm looking at that on my chart. What makes the invalid signal invalid? Do you know that in hindsight, or did you know that as it happened? If I was guessing (which I am) I'd say the valid signal is valid bacause it doesn't break the 23.6. Yes? no? maybe so? I'm not sure what I'm looking for,and I'm also starting to wonder if i'm wasting everyone's time!

ed
No, I didn't know it was going to be invalid untill the second candle went through the 50 line. I actually did a buy limit with a tight stop. I lost a few pips but that's ok when you're looking at the big picture. The valid signal came after I went to bed, so I missed it.


Bartstop
  • #5,110
  • Jan 7, 2010 8:02am Jan 7, 2010 8:02am
Quoting X.Oden
Anyone know what happened to Skunny? He isn't active here anymore, I went through about 120 posts from the beginning and didn't find any real substance to learning anything you can't already discover on your own....I was hoping to find some meat and potatoes to trading naked...but I gave up after the 121st post. I scroll to the later parts and Skunny's not even around...I guess this thread has taken a life of its own?


















....
In Charts We Trust!
  • #5,111
  • Jan 7, 2010 8:05am Jan 7, 2010 8:05am
Quoting edkilp
OK, I'm looking at that on my chart. What makes the invalid signal invalid? Do you know that in hindsight, or did you know that as it happened? If I was guessing (which I am) I'd say the valid signal is valid bacause it doesn't break the 23.6. Yes? no? maybe so? I'm not sure what I'm looking for,and I'm also starting to wonder if i'm wasting everyone's time!

ed
Ed, you are not wasting our time, most of us here are happy to help and learn. You just need some basic ground rules before you start. You need to take one thing at a time. Barstop has just told the correct way around to pull the fib, that's point number 1. I'll come back later with some more.

MD.
Keep smiling
  • #5,112
  • Jan 7, 2010 8:06am Jan 7, 2010 8:06am
Quoting X.Oden
....
scammy created some workshop/site and asked for some money. whoever participated got screwed and still didn't get anything with a substance. end.

but people like fibs, so this show goes on.
  • #5,113
  • Jan 7, 2010 8:10am Jan 7, 2010 8:10am
Quoting X.Oden
Anyone know what happened to Skunny? He isn't active here anymore, I went through about 120 posts from the beginning and didn't find any real substance to learning anything you can't already discover on your own....I was hoping to find some meat and potatoes to trading naked...but I gave up after the 121st post. I scroll to the later parts and Skunny's not even around...I guess this thread has taken a life of its own?
Skunny went off and setup a private website where you paid $100 a month to be a member. Tradefibs.com apparently it's now a closed shop. There are many different opinions on Skunny here, I'll let you make your own mind up on him.

MD.
Keep smiling
  • #5,114
  • Jan 7, 2010 8:14am Jan 7, 2010 8:14am
Quoting Misterdaz
Ed, you are not wasting our time, most of us here are happy to help and learn. You just need some basic ground rules before you start. You need to take one thing at a time. Barstop has just told the correct way around to pull the fib, that's point number 1. I'll come back later with some more.

MD.
Thanks MD, and thanks for the tip about FXStreet. Looks like some good stuff there. I've been tinkering with this for a few months now, so I'm brand-new. I do know some of the basics, but the more I read, the more I knew I had to part with my pretty charts chocked full of Ichimoku's and RSI's and Stochs, and CCI's and great big price labels. You familiar with The Rumpled One? This guy is a coding maniac! He has tons of indicators that look incredible and they're loaded with chart information. But when it's all said and done, they're still just indicators, based on lagging information. I do know for certain that I'm on the right track as far as how I want to approach this. You guys are a godsend,and I'm probably gonna bug you to the point of annoyance, so feel free to yell at me from time to time! Thanks again.

ed
  • #5,115
  • Jan 7, 2010 8:14am Jan 7, 2010 8:14am
Quoting edkilp
OK, I'm looking at that on my chart. What makes the invalid signal invalid? Do you know that in hindsight, or did you know that as it happened? If I was guessing (which I am) I'd say the valid signal is valid bacause it doesn't break the 23.6. Yes? no? maybe so? I'm not sure what I'm looking for,and I'm also starting to wonder if i'm wasting everyone's time!

ed
Something else to keep in mind. I was in your shoes just 2 or 3 weeks ago. Don't take everything I say as the holy gospel. I've learned a hell of a lot from this thread but I may not be 100% accurate on everything. If I'm wrong on something, I'm sure the experts will correct me.


Bartstop
  • #5,116
  • Jan 7, 2010 8:19am Jan 7, 2010 8:19am
Quoting bartstop
Something else to keep in mind. I was in your shoes just 2 or 3 weeks ago. Don't take everything I say as the holy gospel. I've learned a hell of a lot from this thread but I may not be 100% accurate on everything. If I'm wrong on something, I'm sure the experts will correct me.


Bartstop
Noted.....but that gives me a ton of inspiration. I'm not looking to get rich quick. I'm 45 years old and I work in a coal mine here in Ohio. If and when I get comfortable with this, it will be something I'll be able to do forever. Hopefully full-time someday. Maybe cleaner than coal mining, but no less dangerous! Thanks

ed
  • #5,117
  • Jan 7, 2010 8:25am Jan 7, 2010 8:25am
Quoting edkilp
Noted.....but that gives me a ton of inspiration. I'm not looking to get rich quick. I'm 45 years old and I work in a coal mine here in Ohio. If and when I get comfortable with this, it will be something I'll be able to do forever. Hopefully full-time someday. Maybe cleaner than coal mining, but no less dangerous! Thanks

ed
I'm with you bro. I'm an electrician here in Kansas Ciy. I'll do anything to get out of construction. This has lots of promise, that's for sure.

Bartstop
  • #5,118
  • Jan 7, 2010 8:27am Jan 7, 2010 8:27am
Quoting bartstop
The 0 line should always be in the direction of the swing. If the swing goes up, the 0 should be at the top. If the swing goes down the 0 should be at the bottom. I'm sure I've posted some charts with it backwards........I've come a long ways in the last 2 weeks.


Bartstop
Would this apply to compass's single candle method? Measure a bullish candle from bottom to top and bearish candle from top to bottom? Would that still be right when you switched to an hourly chart after drawing the fib on a daily?
  • #5,119
  • Jan 7, 2010 8:27am Jan 7, 2010 8:27am
Quoting bartstop
Something else to keep in mind. I was in your shoes just 2 or 3 weeks ago. Don't take everything I say as the holy gospel. I've learned a hell of a lot from this thread but I may not be 100% accurate on everything. If I'm wrong on something, I'm sure the experts will correct me.


Bartstop
I'm with Barstop.
Keep smiling
  • #5,120
  • Jan 7, 2010 8:32am Jan 7, 2010 8:32am
Quoting edkilp
Would this apply to compass's single candle method? Measure a bullish candle from bottom to top and bearish candle from top to bottom? Would that still be right when you switched to an hourly chart after drawing the fib on a daily?
I'm not familiar with his method. I'm sure he'll be here sometime today.
1 trader viewing now