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Indicator Free Trading - Skunny

  • #5,261
  • Jan 10, 2010 12:51am Jan 10, 2010 12:51am
Quoting A-game
Compass can you explain why the second fib you drew is only on 2/3 of that rally instead of the entire move?
Hi A-game, check posts 5252 and 5254.
  • #5,262
  • Jan 10, 2010 12:59am Jan 10, 2010 12:59am
Quoting edkilp
If I'm grasping this daily candle concept, the EURUSD is still awaiting completion from Jan 4th. I fibbed Dec 31, and it completed with a hit on the -138.2 on Jan 4th. Therefore, the 4th would be the next candle I draw my fib on, right? Fibbing the 4th shows me no completion thru the close last Friday. Am I correct here? I'm determined to figger this all out. Thanks for all your past and future insight.

ed
Correct Edkilp - it is currently ranging between the 0 and the 100.
  • #5,263
  • Jan 10, 2010 3:41am Jan 10, 2010 3:41am
Hi compass. Thank you for redirecting me to the relevant information. I have read your previous posts but somethings still amiss? Would it be possible to dedicate a single post to an in depth explanation? Many of the guys who have been posting here for some time are also still struggling to fully grasp the concept. Can you run us through your order of operations when looking for trades or plotting fib cycles? With daily candles and also the smaller fibs plotting clusters. That would be a big help although i understand if your sick of our simple minded questions lol
  • #5,264
  • Edited 12:01pm Jan 10, 2010 11:40am | Edited 12:01pm
Quoting FX Compass
Sorry for the confusion Checkz, a cluster is a small Fib within the framework of a larger Fib both highlighting significant levels as in the chart above.

147.96 seems to be pretty strong. There's a Monthly fib line just a few pips away also. Does this confirm that we're going north, atleast for a day or two?


EDIT: By looking at a daily chart, it seems like we should be headed south.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: daily gy.gif Size: 34 KB
  • #5,265
  • Jan 10, 2010 12:50pm Jan 10, 2010 12:50pm
Quoting GridTrader
This is only for those that tend to have their fibs down pretty good (doesn't have to be perfect, but you should have a general idea on trading them profitably). I would like to propose an added method or "thought" to Skunny trading. Please feel free to comment good or bad, though be gentle. I'm not trying to change what we are being taught, nor am I trying to push a method on others, and some may be uncomfortable with it. Skunny did mention finding your own system, and though the journey here is to trade with perfection, here is...
Anbody Ever try this guys idea. I noticed that no one ever responded to this guy's idea? What do you guys think?
  • #5,266
  • Jan 10, 2010 2:44pm Jan 10, 2010 2:44pm
Quoting Checkz
Anbody Ever try this guys idea. I noticed that no one ever responded to this guy's idea? What do you guys think?
Hi mate, he might kill me for this but Compass already does something along similar lines.

MD.
Keep smiling
  • #5,267
  • Jan 10, 2010 3:06pm Jan 10, 2010 3:06pm
Quoting Misterdaz
Hi mate, he might kill me for this but Compass already does something along similar lines.

MD.
Does he? Well maybe this is something to look into. I always thought that it was an intresting way to trade Skunnys method especially after Fxcompass stated that the 1.382 will get hit one way or the other.
  • #5,268
  • Jan 10, 2010 3:17pm Jan 10, 2010 3:17pm
Aud/Usd paid me today! Hallelujah!!!!!!
Attached Image (click to enlarge)
Click to Enlarge Name: New Chart.JPG Size: 65 KB
  • #5,269
  • Jan 10, 2010 4:52pm Jan 10, 2010 4:52pm
Quoting Checkz
Aud/Usd paid me today! Hallelujah!!!!!!
Nice one
Keep smiling
  • #5,270
  • Jan 10, 2010 5:27pm Jan 10, 2010 5:27pm
Will your Daily single candle method work on a single one hour candle?
Like this one I pulled on the Aud/Usd One Hour Chart!!!
Attached Image (click to enlarge)
Click to Enlarge Name: New Chart.JPG Size: 40 KB
  • #5,271
  • Jan 10, 2010 6:25pm Jan 10, 2010 6:25pm
I think it does ok on the hour, I've already looked at it but the r/r is not worth the effort. That's my opinion anyway.

Night, MD.
Keep smiling
  • #5,272
  • Jan 10, 2010 7:00pm Jan 10, 2010 7:00pm
Quoting Checkz
Will your Daily single candle method work on a single one hour candle?
Like this one I pulled on the Aud/Usd One Hour Chart!!!
Hi Checkz, as Skunny stated, the lower the timeframe the less the accuracy.

Lower timeframes tend to get whipsawed by a lot of noise and stops are hit more easily.
  • #5,273
  • Jan 10, 2010 7:50pm Jan 10, 2010 7:50pm
Appreciate both answers from you guys!!!
  • #5,274
  • Jan 10, 2010 8:43pm Jan 10, 2010 8:43pm
Quoting Checkz
Aud/Usd paid me today! Hallelujah!!!!!!
Im wondering if it's gonna go anywhere tonight. Looks like low volume at the moment. Are you still in Checkz? Would you be looking to trade the other way now?

ed
  • #5,275
  • Jan 10, 2010 9:11pm Jan 10, 2010 9:11pm
Quoting edkilp
Im wondering if it's gonna go anywhere tonight. Looks like low volume at the moment. Are you still in Checkz? Would you be looking to trade the other way now?

ed
I can't access my trading platform right now something is going on with Fxcm so Im trying to re download everything now!!!
  • #5,276
  • Jan 10, 2010 10:57pm Jan 10, 2010 10:57pm
Quoting edkilp
Im wondering if it's gonna go anywhere tonight. Looks like low volume at the moment. Are you still in Checkz? Would you be looking to trade the other way now?

ed
Japan Bank Holiday today. Won't see much volume untill London session.
  • #5,277
  • Jan 10, 2010 11:32pm Jan 10, 2010 11:32pm
@ Checks. Can you please give me a post number for Gridtraders post? The entire post does not show up in your quote so i am unable to read his idea?
  • #5,278
  • Jan 11, 2010 12:37am Jan 11, 2010 12:37am
Nevermind. Found it
  • #5,279
  • Jan 11, 2010 6:41am Jan 11, 2010 6:41am
Quoting A-game
@ Checks. Can you please give me a post number for Gridtraders post? The entire post does not show up in your quote so i am unable to read his idea?
For anybody interested!!!
  • #5,280
  • Jan 11, 2010 7:05am Jan 11, 2010 7:05am
I wish I had of been able to get in on this one. Darn Fxcm servers were down.
Attached Image (click to enlarge)
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