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Indicator Free Trading - Skunny

  • #5,581
  • Jan 19, 2010 8:35am Jan 19, 2010 8:35am
Quoting ThomKnight
I won't bore you with some of my homebrew sr theory......
Thom, we are never bored by your posts. Trust me. If you are willing to share, we are willing to listen (and learn).



Bartstop
  • #5,582
  • Jan 19, 2010 9:00am Jan 19, 2010 9:00am
Quoting bartstop
Thom, we are never bored by your posts. Trust me. If you are willing to share, we are willing to listen (and learn).



Bartstop

It is too in depth , but here is a synopsis... sr is infinite and exists everytick on the chart from zero to infinity.

every instrument illuminates that sr via price. Sr is clustered in ratios of 138.2 and potentially others as well but this works as well as anything else.

I assume there is some master sr grid based off of fibonacci( which i presume everything in the world and universe is based off of) in which you pick a point price has illuminated sr and you can build off of that one point at the birth of the currency to every possible point it will ever go and have it signalled beforehand if you understand how to trade it.

This would probably work in much the same way you can use 1.618 200 238 268 300 etc.. for much longer term price moves. Have fun trading that though it is overkill. Also you have to deal with the cycles inside of cycles mates, if you choose to to track price around that mess

So often times we only get pieces of the puzzle and in the case I referenced... i got some of the inners fib of the cycle and that validated the whole thing. For me fibbing is about fiindng pieces of it I understand and allow me to know i am in a tradeable price cycle as I understand it.

the bottom line takeaway is sr is infinate and static and exists BEFORE price hits an area which you can find through identifying a cycle or referencing past price. A cycle will let you know even if an area has never been traversed by price before.

TK

EDIT: nothing but the backwards to look forwards part of this jumble is needed for Skunny fibbing methinks.
  • #5,583
  • Jan 19, 2010 9:09am Jan 19, 2010 9:09am
Looks like the last post is one for the train journey.

With a symmetrical fib, it probably doesn't matter which way up it is. Like a Cellist, they know where to place their fingers on the neck without any frets.

MD.
Keep smiling
  • #5,584
  • Jan 19, 2010 9:09am Jan 19, 2010 9:09am
Quoting ThomKnight
It is too in depth , but here is a synopsis... sr is infinite and exists everytick on the chart from zero to infinity......
Thanks Thom, I'll have to read that a few times to grasp everything.

Next question. Yesterday we discussed a fib on GJ that had already hit it's target. Then you posted another chart with the fib moved higher. We hit that target this morning. So then do we move the fib even higher like this?
Attached Image (click to enlarge)
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  • #5,585
  • Jan 19, 2010 9:11am Jan 19, 2010 9:11am
Quoting bartstop
Thanks Thom, I'll have to read that a few times to grasp everything.

Next question. Yesterday we discussed a fib on GJ that had already hit it's target. Then you posted another chart with the fib moved higher. We hit that target this morning. So then do we move the fib even higher like this?
61.8 to 50... looks good to me , no?

Tk

EDIT to move the fiba round it has to look good after a point...you can't just robotically move it or you will fail.
  • #5,586
  • Jan 19, 2010 9:30am Jan 19, 2010 9:30am
Quoting ThomKnight
61.8 to 50... looks good to me , no?

Tk

EDIT to move the fiba round it has to look good after a point...you can't just robotically move it or you will fail.
You mean the levels need to continue to be respected? What do you mean by "robotically"?


Bartstop
  • #5,587
  • Jan 19, 2010 9:31am Jan 19, 2010 9:31am
Quoting ThomKnight
No one can trade how I do.. .
Indeed
  • #5,588
  • Jan 19, 2010 9:42am Jan 19, 2010 9:42am
Quoting bartstop
You mean the levels need to continue to be respected? What do you mean by "robotically"?


Bartstop
I mean you can't just keep moving the fib up the sr tree like a monkey mate. and yes the reason why most Skunny fibbers appear to fail is because they do not comprehend the concept of respect and use concepts like zones or approximates as is the way in conventional fibbing.

TK
  • #5,589
  • Jan 19, 2010 9:48am Jan 19, 2010 9:48am
Quoting ThomKnight
I mean you can't just keep moving the fib up the sr tree like a monkey mate. and yes the reason why most Skunny fibbers appear to fail is because they do not comprehend the concept of respect and use concepts like zones or approximates as is the way in conventional fibbing.

TK

I understand eventually your fibs will fail if you keep moving them up, price will turn around at some point. Is there something you look for that would indicate a turnaround is comming?


Bartstop


EDIT: I'm assuming we need to see another trip down with respect before entering again?
  • #5,590
  • Jan 19, 2010 9:50am Jan 19, 2010 9:50am
Scotty, nice mugshot.
Keep smiling
  • #5,591
  • Jan 19, 2010 10:12am Jan 19, 2010 10:12am
A close below the 61.8 is a sign of reversal. I'm sure Thom will elaborate.
Keep smiling
  • #5,592
  • Jan 19, 2010 10:20am Jan 19, 2010 10:20am
Quoting Misterdaz
Scotty, nice mugshot.
The Office is my favorite show..Dwight rocks..Plus, my old avatar was really boring.
  • #5,593
  • Jan 19, 2010 10:23am Jan 19, 2010 10:23am
Quoting bartstop
I understand eventually your fibs will fail if you keep moving them up, price will turn around at some point. Is there something you look for that would indicate a turnaround is comming?


Bartstop
A to the tick hit and watching I suppose. I have no interest in that. I know my target will get hit and that is where it begins and ends for me.

I have run down the rabbit hole of trying to predict turn arounds and aside from being a bragging right... it serves no purpose for me. I know there are people who can do it. I am not one of them.

Skunny has said he waits and watches if memory serves. The overuling concept for me with this is:

You know where it is going...and where it is not going... that is insanely powerful.

TK
  • #5,594
  • Jan 19, 2010 10:24am Jan 19, 2010 10:24am
Quoting bartstop
I understand eventually your fibs will fail if you keep moving them up, price will turn around at some point. Is there something you look for that would indicate a turnaround is comming?


Bartstop


EDIT: I'm assuming we need to see another trip down with respect before entering again?
it is up to you how you trade the information is your business.
  • #5,595
  • Jan 19, 2010 10:28am Jan 19, 2010 10:28am
Quoting Misterdaz
A close below the 61.8 is a sign of reversal. I'm sure Thom will elaborate.
Is it? I am unaware of that, Mate. For me in a fib I don;t care about closes and opens and etc.. and if it retraces past my 61.8 it just means it is following not that fib at the moment.. dpending on the fib it doesnt invalidate it.

Plenty is the time i have seen a fib kiss off of the zero line( or a near sight to it) after piercing and rocket to target. You see that often in swing fibs and sometimes in 61.8s and 138's as well.

I would be very cautious on a swing fib if that happens though.

TK
  • #5,596
  • Jan 19, 2010 10:39am Jan 19, 2010 10:39am
Back to the drawing board then.
Keep smiling
  • #5,597
  • Jan 19, 2010 10:51am Jan 19, 2010 10:51am
Quoting Misterdaz
Back to the drawing board then.
Don't be somber mate! I think... once people stop trying to say there is a finite x then y then z... it will be much better for them.

If that is your experience... then it is. I am just saying it is not anything i look at it. It could be useful to you. How i learned how to do this was taking the concepts laid out here and working with them for a couple years until things made sense to me...I knew I was right because it worked...not becuase it was the only way it worked. I don;t think there is simply one right.

TK
  • #5,598
  • Jan 19, 2010 10:54am Jan 19, 2010 10:54am
Quoting Misterdaz
Back to the drawing board then.
I'm kinda thinking a buy limit at the 50 line or maybe a pip or two above, SL just under 61.8. Place a buy stop just above the 0 line. If price bounces off of 38 you don't miss the entire move. If you get stopped out and it bounces off of the 100 line and rockets up you still get part of the move to make up for the loss. The only problem is where to put the SL on the Buy Stop.


Edit: TK, I get nervous trading without stops. Been bitten too many times and my account shows it.
  • #5,599
  • Jan 19, 2010 11:09am Jan 19, 2010 11:09am
Quoting bartstop
I'm kinda thinking a buy limit at the 50 line or maybe a pip or two above, SL just under 61.8. Place a buy stop just above the 0 line. If price bounces off of 38 you don't miss the entire move. If you get stopped out and it bounces off of the 100 line and rockets up you still get part of the move to make up for the loss. The only problem is where to put the SL on the Buy Stop.


Edit: TK, I get nervous trading without stops. Been bitten too many times and my account shows it.
Mate, I heaar you however one of the biggest reason the unwashed trading masses fail.. is improper stops..so on that train... until you understand how you trade , stops are a secondary concern.

one of the most baffling concept to me ever is a fixed sl or a trailing sl. there is a right and a wrong place for a stop, after you learn how you trade and if that method is skunny fibs... it will become apparent where your stops should be methinks.

TK
  • #5,600
  • Jan 19, 2010 11:13am Jan 19, 2010 11:13am
100%

to the pip

skunny says

never fails

skunny once said..........


my ass

lol

trade fibs was a bigger joke than this thread is
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