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Indicator Free Trading - Skunny

  • #5,361
  • Jan 13, 2010 4:58pm Jan 13, 2010 4:58pm
Chaps, if you get an email from UPS/DHL etc claiming they were unable to deliver your parcel, don't open the invoice attachment like I did!

What a f%$king dickhead I am sometimes.

Busy disinfecting.

MD.
Keep smiling
  • #5,362
  • Jan 13, 2010 5:15pm Jan 13, 2010 5:15pm
Compass, A-game, Skong. Not much chance of you guys eating yellow snow at the moment. I hope you all have air con.

My boiler packed up this morning. I do not need air con.

MD.
Keep smiling
  • #5,363
  • Jan 13, 2010 6:03pm Jan 13, 2010 6:03pm
Quoting Misterdaz

BarTstop, how's the short cable going mate. Rule britannia!!!!

Sure, rub it in. Actually I manually closed the trade with only 7 pips loss. I then turned around and made 98 overnight. Then, I got big-headed and lost all that profit on a screwball GY trade. Go figure.

Starting to examine Jacko's thread. Might be a little less stressfull.


Bartstop
  • #5,364
  • Jan 13, 2010 6:12pm Jan 13, 2010 6:12pm
I just wanted to point out that we are approaching the 50 line on this retracement. Might be turn-around time soon.


Note: I have redrawn my faulty trendline.



Bartstop
Attached Image (click to enlarge)
Click to Enlarge Name: gu daily.gif Size: 28 KB
  • #5,365
  • Jan 13, 2010 6:14pm Jan 13, 2010 6:14pm
Hey BarT. Well played on the 98 pips. Shame to lose it all. you should never risk more no more than 3% of your account, you may be demoing but it is good practice to stick to this otherwise you coud very quickly wipe yor account.

Once find yourself a consistent approach that you are comfortable with you can make steady small profits and gradually grow your account. patience is required of course.

If you know all this already just tell me to p1ss off.

Good luck whatever you do old boy.

MD.
Keep smiling
  • #5,366
  • Jan 13, 2010 6:26pm Jan 13, 2010 6:26pm
Quoting bartstop
Sure, rub it in. Actually I manually closed the trade with only 7 pips loss. I then turned around and made 98 overnight. Then, I got big-headed and lost all that profit on a screwball GY trade. Go figure.

Starting to examine Jacko's thread. Might be a little less stressfull.


Bartstop
That's why I didn't trade it. Didn't won't to lose my profits.
  • #5,367
  • Jan 13, 2010 6:38pm Jan 13, 2010 6:38pm
Quoting bartstop
I just wanted to point out that we are approaching the 50 line on this retracement. Might be turn-around time soon.


Note: I have redrawn my faulty trendline.



Bartstop
actually... is it? I have posted short GU charts but not confirmed more of idea charts to the short... I rec gents, don;t listen to news.(it is poppycock).. or anyone else.. and just chart. I dunnae trade GU , but I do GY and I am still overall long despite... well.. it just is long.

An easy way ( what??) to trade... is... figure out where we are going and have the patience... to wait until we go that way. see you at 1.76.

TK
EDIT: my point is this.... if you know you are up... you can trade down... but why not wait until you go up again... i havent the foggiest where this thread has gone but that is my two pence.
  • #5,368
  • Jan 13, 2010 6:58pm Jan 13, 2010 6:58pm
Been thinking about charging people for my trade calls. All you have to do is go the opposite direction that I predict price will go, you'll be rich. Anybody interested?
  • #5,369
  • Jan 13, 2010 7:11pm Jan 13, 2010 7:11pm
Quoting Scotty B
The quest for the holy grail is something every aspiring trader has to go go through. It took me nearly three years to notice it was a dead end road. I'm all the better for it though, I learned a heck of a lot because of it.

Only a select few will ever get to the point in their understanding where they can look at this fib stuff in particular and see in actuality WHY it is nonsense. The reason it has such power to distract is because of these so called 'pip perfect hits,' on all these inner fibs. When a young trader see's that he/she starts to...

Hi You can be successful to a sin with a 60% win ratio. I think the reason why this thread draw ire and ..well...greeners is because people think it is a shortcut... insert slot a in to port b and south of france.

I do choose to live my life. I would hope most blokes would..hence i am not here all the bloody time. I was a "semi successful" trader using price action and lines.. I spent time with this thread and well to me it is the mutt's nuts and oddly enough I can trade traditionally.

I think this thread is lost on traders and for some reason panders to non.. I don't think the condecending attitude serves a postive purpose no?

Let's just be positive or quiet I say. Opposite viewpoints are always welcome though as long as they are civil and thought out. There is no foul in that.

You can pull any of my charts.

TK
  • #5,370
  • Jan 13, 2010 7:15pm Jan 13, 2010 7:15pm
Quoting Gknarf
So why do you have.....

'20 pips a day isn't too much to ask . . .'

as your signature ??????
Well I would say... 20 pips... is not bad goal since all pips are equal... it is a function of discipline.

I often exit early not because I am wrong... but because I am done. This will make sense once rr doesnt.

TK
  • #5,371
  • Jan 13, 2010 7:26pm Jan 13, 2010 7:26pm
Quoting FX Compass
Checkz,

watch for the double tap witch often occurs.

Price will often re-test a line before heading on it's journey.
This second approach to the line tells us the most about where price
is likely to head to next.
Watch how the price reacts to the line compared to the previous test of the line.
I think Gbp/Usd Just Did the double tap. Now, am I suppose to trade from the 23.6 to the 50 on a reversal. And is this where I began to watch which inner fib level my retracement goes to know which fib ext is most likely to get hit.
  • #5,372
  • Jan 13, 2010 8:32pm Jan 13, 2010 8:32pm
Quoting ThomKnight
Well I would say... 20 pips... is not bad goal since all pips are equal... it is a function of discipline.

I often exit early not because I am wrong... but because I am done. This will make sense once rr doesnt.

TK

Hey thom I have really enjoyed reading your posts.
I also agree with keeping it positive
If you dont mind I have a few questions..

1- Do you ever pull a fib on a daily or weekly candle switch to lower time frame and trade from that?

2- You said that you pull back and up for long and back and down for short , is this a good general rule to sick with? (this reminds me of the skunny post that said to map support from previous swing when going short and resistance from previous when going long.)

3-In regards to reversals ,such as the weekly candle exercise , can you enlighten me to when or where this may happen? ( I dont understand the contradiction ..ie the candle pierces the 0 or 100 but fails to reach the 138)


Thanks .

Hush.
  • #5,373
  • Jan 13, 2010 9:04pm Jan 13, 2010 9:04pm
Quoting Checkz
I think Gbp/Usd Just Did the double tap. Now, am I suppose to trade from the 23.6 to the 50 on a reversal. And is this where I began to watch which inner fib level my retracement goes to know which fib ext is most likely to get hit.

Here is my view on GU trade.
We are in a strong uptrend and PA doesn't suggest a retracement just yet.I book some profits on 1.27 extension but I will hold the rest of the trade and let the mkt. take me out since I'm in a risk free trade.If we get a retracement at some point I will watch price action at the inner levels (green fib on the second pic.)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu long 1.jpg Size: 116 KB
Click to Enlarge Name: gu long 2.jpg Size: 113 KB
  • #5,374
  • Jan 13, 2010 9:06pm Jan 13, 2010 9:06pm
Quoting Checkz
I think Gbp/Usd Just Did the double tap. Now, am I suppose to trade from the 23.6 to the 50 on a reversal. And is this where I began to watch which inner fib level my retracement goes to know which fib ext is most likely to get hit.
Checkz, what does the second tap look like.

Stronger attack on resistance or weaker.

If you think it's stronger then prepare for a break to the upside and the extensions getting hit.

The price will always paint the picture.
  • #5,375
  • Jan 13, 2010 9:09pm Jan 13, 2010 9:09pm
Quoting speedarad
Here is my view on GU trade.
We are in a strong uptrend and PA doesn't suggest a retracement just yet.I book some profits on 1.27 extension but I will hold the rest of the trade and let the mkt. take me out since I'm in a risk free trade.If we get a retracement at some point I will watch price action at the inner levels (green fib on the second pic.)

Totally agree. Smaller timeframes to run their Fib cycle first.
  • #5,376
  • Jan 13, 2010 10:00pm Jan 13, 2010 10:00pm
Weekly Fib 0 Line (White) and Daily Fib -38.2 (Yellow) cluster at 1.6240.

Chances are we retrace to this level for a double tap on weekly 0 line and then up we go to extensions.

Or we break out above the Daily 0 line and to the extensions.

Either way we are headed long just a matter of which point will trigger the entry.
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.gif Size: 18 KB
  • #5,377
  • Jan 14, 2010 4:34am Jan 14, 2010 4:34am
This is probably the kiss of death posting this trade but here goes. Target 0.9355. BarTstop, here's your chance to get your own back!

Attached Image (click to enlarge)
Click to Enlarge Name: audusd140110.png Size: 14 KB


MD.
Keep smiling
  • #5,378
  • Jan 14, 2010 4:42am Jan 14, 2010 4:42am
Yes I know the fib was pulled downwards but that was the direction of that day. In any event price has broke back thru the 61.8 which signals to me we are not going down at the moment, oh and the good Aussie numbers overnight.

MD.
Keep smiling
  • #5,379
  • Jan 14, 2010 4:44am Jan 14, 2010 4:44am
Quoting Misterdaz
This is probably the kiss of death posting this trade but here goes. Target 0.9355. BarTstop, here's your chance to get your own back!

Attachment

MD.
Do you wait for price to close above the 0 line before you enter. the reason why im asking is alot of times I set an entry order a few pips above the o line (because Im away from my computer) and many times it's triggered by the wicks of the candles. does it matter whether it's a wick or the body of the candle the breaks the o line?
  • #5,380
  • Jan 14, 2010 5:02am Jan 14, 2010 5:02am
To be honest this is still a bit experimental for me. I took it on my "Sam Seiden approach". That is, let price break thru the level but don't enter. Wait for it to pull back to your level and then get in. Now sometimes the first break will be ok and price will never look back and you don't get in, fair enough. With my approach hopefully any stops in my path are cleared on the first break. In any event price is stuck at this level for now. 0.9300 is quite a big line in the sand to clear!

MD.
Keep smiling
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