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Indicator Free Trading - Skunny

  • #5,181
  • Jan 7, 2010 6:56pm Jan 7, 2010 6:56pm
Quoting ThomKnight
G'day

How are you chaps doing? Did I miss anything good?

TK

TK, welcome back. Wow, that must have been one hell of a hangover! It took you 7 days?
  • #5,182
  • Jan 7, 2010 7:18pm Jan 7, 2010 7:18pm
Quoting bartstop
TK, welcome back. Wow, that must have been one hell of a hangover! It took you 7 days?
Thats a gas mate! I don't trade everyday. You have to live life. The markets will always be here. The biggest benny to trading is you are not stuck in a day to day. Trade to live... otherwise you are ass over teakettle. Chuckle.

Anything new poke it's smarmy gob out, any question flames or etc?

TK
  • #5,183
  • Jan 7, 2010 7:29pm Jan 7, 2010 7:29pm
Quoting ThomKnight
Thats a gas mate! I don't trade everyday. You have to live life. The markets will always be here. The biggest benny to trading is you are not stuck in a day to day. Trade to live... otherwise you are ass over teakettle. Chuckle.

Anything new poke it's smarmy gob out, any question flames or etc?

TK
No, I think the flames stoped when you and Scotty kissed and made up. I'm sure I'll have some questions at some point. For now, I'm good.

As for not trading every day. I think I've found my groove. I'm excited so I'm glued to the monitor every free minute. I'm sure you remember those days?

Bartstop
  • #5,184
  • Jan 7, 2010 7:59pm Jan 7, 2010 7:59pm
Quoting bartstop
No, I think the flames stoped when you and Scotty kissed and made up. I'm sure I'll have some questions at some point. For now, I'm good.

As for not trading every day. I think I've found my groove. I'm excited so I'm glued to the monitor every free minute. I'm sure you remember those days?

Bartstop
yes... you may find you do yourself more good by not being glued. You hunt and peck. If it sets up then capital... if it doesn't.. and you are glued.. you start to hunt.

TK
  • #5,185
  • Jan 7, 2010 8:04pm Jan 7, 2010 8:04pm
But must beware bout tonight's big big news
  • #5,186
  • Jan 7, 2010 8:21pm Jan 7, 2010 8:21pm
Quoting edkilp
Hi there. If you wanna edit your fibs, you go into the properties and if you've messed with them a lot, you may wanna click the default button to reset them. The rest is open to personal preference, but a lot of these guys delete the 23.6, 78.2 (if it's there), and the higher ones like 261, and 4-something. If you wanna add the upper and lower extensions, you'll go to the Levels tab, and click add. In the Level column, type in 1.382. In the description column, type 138.2. Click OK, then click Add again. Now add -0.382 for the level and 138.2 in...

Thanks alot mate that helped alot.
  • #5,187
  • Jan 7, 2010 8:23pm Jan 7, 2010 8:23pm
Quoting ThomKnight
yes... you may find you do yourself more good by not being glued. You hunt and peck. If it sets up then capital... if it doesn't.. and you are glued.. you start to hunt.

TK
I know exactly what you are talking about......all too well. It has cost me many $$. When I say I'm glued to the monitor, I'm not necessarily looking for trades. I spend a lot of time analyzing prior cycles and helping other forum members as best I can.
  • #5,188
  • Jan 7, 2010 8:28pm Jan 7, 2010 8:28pm
Quoting TipTop
But must beware bout tonight's big big news
I take a look at what FF has posted on the front page, but for the most part it just causes "noise" in the cycle. No game changers from what I've seen.

Maybe I'm wrong?
  • #5,189
  • Jan 7, 2010 8:34pm Jan 7, 2010 8:34pm
Quoting A-game
Thanks alot mate that helped alot.
No problem...now if I could just figger out how to make them work!

ed
  • #5,190
  • Jan 7, 2010 8:48pm Jan 7, 2010 8:48pm
Hahaha likewise my friend...
  • #5,191
  • Jan 7, 2010 9:01pm Jan 7, 2010 9:01pm
I think It is safer to sell to 1.382 fib ext so I closed out buy entry
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  • #5,192
  • Jan 7, 2010 9:42pm Jan 7, 2010 9:42pm
Quoting edkilp
No problem...now if I could just figger out how to make them work!

ed
Remember how we talked about pulling a fib on the previous days high/low? Try that on USDJPY H1.

(The new day started about 4 hours ago - 00:00 GMT on your chart)
  • #5,193
  • Jan 7, 2010 11:06pm Jan 7, 2010 11:06pm
I am short on A/U
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  • #5,194
  • Jan 8, 2010 12:21am Jan 8, 2010 12:21am
Does anyone know when skunny will be opening registration again? $100 a month sounds reasonable.
  • #5,195
  • Jan 8, 2010 12:58am Jan 8, 2010 12:58am
Quoting Checkz
On Gbp/Usd I exited the trade early but it hasn't actually hit the 1.382 fib ext yet. Do I need to wait until 1.382 fib ext is hit or can I consider this as a complete And fib the candle with the green arrow directly below it with the #43.7 under it.

Sorry for the delay Checkz,

The targets are not always hit to the pip, allow 5 pips give or take.

Sometimes price is in a hurry to get going in the other direction so we get a wick reach very close to the target and then off we go.
  • #5,196
  • Jan 8, 2010 1:02am Jan 8, 2010 1:02am
Quoting bartstop
Had to go pick up the wife from work. I just got back and had a little present waiting for me. GJ hit the target to the exact pip. EJ went 3 pips past. I try to set my TP 5 pips below just to be safe. I hope tonights setup works out just as well.



BarTstop


PS - You guys are killing me.

Well done Bartstop - now don't tell anyone outside this thread that Fibs actually work, they will all be over here crowding things up...
  • #5,197
  • Jan 8, 2010 1:13am Jan 8, 2010 1:13am
Quoting Checkz
I think It is safer to sell to 1.382 fib ext so I closed out buy entry
Hi Checkz, Fib the daily and you will know exactly what your smaller time frame fib is telling you about GBPUSD.
  • #5,198
  • Edited 2:24am Jan 8, 2010 1:59am | Edited 2:24am
If I understand what's been said here, using the Compass method, a candle completes when it hits one of the 138.2 extensions. Right or wrong? OK, if that's correct, then using the USDCAD as an example, when I fib Jan 5th from high to low, being that the daily candle is a downer, price breaks the low on the 6th, and continues to below the 138.2. That candle is then complete, right? So that's when I would move my fib to the next day? Compass, do you move your fib every day regardless, or do you wait for it to hit a 138.2 before moving it? I'd like to think I'm starting to see what I'm supposed to see, but I can't say it with confidence yet! Anyway, gotta get to work on NO sleep, but this stuff is worse than narcotics! Thanks

If I fib the 6th, it doesn't complete, and doesn't come close.....so does that mean I leave it until it completes, even if it takes a few days? If i fib the 7th from low to high, being that it was an upper, price is just kinda bouncin around between the 23.6 and the 50. OK, i'm going to work, and I mean it this time!!! Confused, yet kinda excited!

ed
  • #5,199
  • Jan 8, 2010 2:32am Jan 8, 2010 2:32am
I think I see why Skunny said you could get into the market and never leave.....BUT.....when you're not in a trade, is it very possible and maybe even common to fib these charts and have days go by without anything tradeable happening? I think once you're in, you can see what's happening and keep trading if you want to. But am I right to say that you may open your charts, see no real opportunities, and just wait til the next day? OK, now I'm gonna be late!! c-ya

ed
  • #5,200
  • Jan 8, 2010 4:21am Jan 8, 2010 4:21am
Quoting edkilp
If I understand what's been said here, using the Compass method, a candle completes when it hits one of the 138.2 extensions. Right or wrong? OK, if that's correct, then using the USDCAD as an example, when I fib Jan 5th from high to low, being that the daily candle is a downer, price breaks the low on the 6th, and continues to below the 138.2. That candle is then complete, right? So that's when I would move my fib to the next day? Compass, do you move your fib every day regardless, or do you wait for it to hit a 138.2 before moving it? I'd like...
Good question Edkilp,

the Fib must be completed before I move it. One way or another it will complete, either the extentsion gets hit on the downside say below the 100 or the upside above the 0.
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