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Indicator Free Trading - Skunny

  • #5,641
  • Jan 20, 2010 7:04am Jan 20, 2010 7:04am
Quoting Misterdaz
you must be a happy man. Has your trading improved of late?

MD.
It has. Ive began to notice that even when I lose I still end up winning so my losses have been small. Im kind of breaking even as of now but Ive learned so much until I know my Winning trades will improve.
  • #5,642
  • Jan 20, 2010 7:07am Jan 20, 2010 7:07am
Quoting Misterdaz
You are very welcome here, and so are your charts. It' good to see a fellow European on the thread, I seem to be outnumbered by yanks and Aussies.

MD
Well Thank you very much! Iīm happy to be here.
Charts will follow...do you think Cable is gonna hit the 161.8??

I see 1.6250 has been very strong..

  • #5,643
  • Jan 20, 2010 7:21am Jan 20, 2010 7:21am
One of my sit and watch charts, I didnīt took the trade because I never traded the USDCAD I have some other charts in other currencies where I watch how effective this fibs are.
Did I plotted the fibs right in this chart?
Attached Image (click to enlarge)
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  • #5,644
  • Jan 20, 2010 8:01am Jan 20, 2010 8:01am
Quoting Rednose
One of my sit and watch charts, I didnīt took the trade because I never traded the USDCAD I have some other charts in other currencies where I watch how effective this fibs are.
Did I plotted the fibs right in this chart?
If you are trying to trade in the style of FX Compass the answer is yes. The trade to take was at the break of of 1.0348, a winner I believe.

MD.
Keep smiling
  • #5,645
  • Jan 20, 2010 8:02am Jan 20, 2010 8:02am
1.6250 is holding..I see a HS on the H1 neck is already broken but price is not going down...
  • #5,646
  • Edited 8:28am Jan 20, 2010 8:02am | Edited 8:28am
I have also added a slight alternative.

Attached Image (click to enlarge)
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Alternative. This would have got me in slightly earlier (If I was awake!)

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Keep smiling
  • #5,647
  • Jan 20, 2010 8:11am Jan 20, 2010 8:11am
Quoting Misterdaz
I have also added a slight alternative.

Attachment

Alternative. This would have got me in slightly earlier.

Attachment
Great! Thanx. Iīll watch how it developes and post the chart for the new wave coming.
  • #5,648
  • Jan 20, 2010 8:22am Jan 20, 2010 8:22am
It's a long ways down to 138. Got a few pips protected. Gonna let it ride. Let's see what happens.


Bartstop
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  • #5,649
  • Jan 20, 2010 8:34am Jan 20, 2010 8:34am
This was the EURGBP trade I put on earlier, this has now hit target. 7 out of 7 for me now.

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp200110.png Size: 10 KB


By way of proof, here's the account I started at the weekend since my pc blew up, it's a fresh demo account. I wouldn't trade this live yet, I do expect some losers, I am only human but looking good so far.

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


MD.
Keep smiling
  • #5,650
  • Jan 20, 2010 8:47am Jan 20, 2010 8:47am
This is on a weekly chart. I don't know what Thom or Compass would think of this, I've got a couple of spikes thru the top but some nice respect of the 61.8 and 50. somewhere near 1.3700 looks likely????

Attached Image (click to enlarge)
Click to Enlarge Name: eurusdweekly.png Size: 12 KB


MD.
Keep smiling
  • #5,651
  • Jan 20, 2010 8:49am Jan 20, 2010 8:49am
Whadya think wise guy?
Keep smiling
  • #5,652
  • Jan 20, 2010 9:15am Jan 20, 2010 9:15am
Quoting Misterdaz
Whadya think wise guy?
Looks to me like you should be trading live. Throw a couple hundred Euro's in a mini account and see what happens. If you can afford it anyways.


Bartstop
  • #5,653
  • Jan 20, 2010 9:43am Jan 20, 2010 9:43am
Attached Image (click to enlarge)
Click to Enlarge Name: aud2001.png Size: 11 KB
Keep smiling
  • #5,654
  • Jan 20, 2010 9:51am Jan 20, 2010 9:51am
Quoting Misterdaz
I have also added a slight alternative.

Attachment

Alternative. This would have got me in slightly earlier (If I was awake!)

Attachment
OK, now I'm takin steps backward.....looking at these 2 charts, I don't see where you're drawing these from. Neither chart has the 0 or 100 drawn from a definite hi or low anywhere. In the first chart, it looks like you stuck your 100 around the resistance at 1.6420. Or were you drawing it to the support at 61.8? Or the resistance at 61.8? I either need you to tell me what you're doin here, or I need to read TK's posts from the beginning. This method seems to be pretty successful. Enjoy your profits!

ed
  • #5,655
  • Jan 20, 2010 9:55am Jan 20, 2010 9:55am
Ed, this is not how Compass does it so please don't get confused with the 2 different styles, this is a bit more subjective if that is the right choice of word and, I am still getting my head around it. So, don't take these as trade calls. I don't know why I'm posting them really, probably to get a response from Thom but I'm sure he is off enjoying life somewhere.

MD.
Keep smiling
  • #5,656
  • Jan 20, 2010 10:03am Jan 20, 2010 10:03am
Quoting bartstop
Looks to me like you should be trading live. Throw a couple hundred Euro's in a mini account and see what happens. If you can afford it anyways.


Bartstop
I think I'll stick to Monopoly money for now mate. I went short AUD at .9101, could be the straw that breaks the camels back.

MD.
Keep smiling
  • #5,657
  • Jan 20, 2010 10:11am Jan 20, 2010 10:11am
No, I'm not takin them as trade calls, still tryin to get a feel for one method that makes sense to me. I know the light bulb is gonna click on sooner or later, but as of now, I still don't see what everyone else is seeing. As an aside, using Compass's technique, what do you look for after a candle completes and today isn't over yet? Example, when you fib yesterdays aud/usd, price retraced to 76.4 level, hovered there for a few hours then plummeted to well below -161.8. What now? If I missed that trade, what am I waiting for now? Do I need to wait for the day to end, move my fib and start over? Bear with me folks. As another aside, not to delve too deeply into TK's thinking, but to the untrained eye, it really looks like he draws these fibs to where they look good. I completely understand that there's a method to his madness, but if I want to, I can draw a fib on any chart and make it look like major s/r just by movin it around until it's pleasing. Thank God for coal mines!!

ed
  • #5,658
  • Jan 20, 2010 10:14am Jan 20, 2010 10:14am
Quoting Misterdaz
This was the EURGBP trade I put on earlier, this has now hit target. 7 out of 7 for me now.

Attachment

By way of proof, here's the account I started at the weekend since my pc blew up, it's a fresh demo account. I wouldn't trade this live yet, I do expect some losers, I am only human but looking good so far.

Attachment

MD.
I would be carefull taking anymore shorts on EURGBP. We are at the 161.8 on the Daily.

Bartstop
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  • #5,659
  • Jan 20, 2010 10:42am Jan 20, 2010 10:42am
Quoting edkilp
No, I'm not takin them as trade calls, still tryin to get a feel for one method that makes sense to me. I know the light bulb is gonna click on sooner or later, but as of now, I still don't see what everyone else is seeing. As an aside, using Compass's technique, what do you look for after a candle completes and today isn't over yet? Example, when you fib yesterdays aud/usd, price retraced to 76.4 level, hovered there for a few hours then plummeted to well below -161.8. What now? If I missed that trade, what am I waiting for now? Do I need to wait...
Ok Ed, this is my understanding of the TK method. I don't usually trade this pair put I see one setting up.

The first chart shows the AUDJPY Daily chart. As you can see we are currently in a down trend. So we will be looking for shorts. Right?

The second chart is the hourly. See the high at circle 1? Price is turning direction and heading back down. You put your 100 line there.

Circle 2 is a retracement of the down move. Line up the high of that retracement with the 61.8 line. To the pip.

Circle 3 is confirmation that this is a valid fib. When your fibs line up with SR levels from an earlier swing. You know its valid.

Trade the break of the 0 line.

Hope this helps.

Bartstop
Attached Image(s) (click to enlarge)
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  • #5,660
  • Jan 20, 2010 10:47am Jan 20, 2010 10:47am
Here is a completed example from last week.
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