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Indicator Free Trading - Skunny

  • #5,741
  • Jan 22, 2010 9:11am Jan 22, 2010 9:11am
Where have you drawn your current fib?
Keep smiling
  • #5,742
  • Jan 22, 2010 9:16am Jan 22, 2010 9:16am
Here's my chart
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  • #5,743
  • Jan 22, 2010 9:46am Jan 22, 2010 9:46am
Like you I am still digesting this stuff so I could be wrong. I just had a quick look at a cable chart and had a play with some fibs on different timeframes and either way I do it I see support coming in at 1.6060. Anything is possible I suppose but seeing as I am posting while at work and have this morning discovered I must not give trade calls on chat sites or face the sack!! Well this is just my view.
Keep smiling
  • #5,744
  • Jan 22, 2010 11:00am Jan 22, 2010 11:00am
Quoting Misterdaz
Ed, what day have you drawn your fib on?
It's drawn on yesterday's candle. I actually had a stop set at the 76.4 level and got zapped for 84 bucks. It actually dropped right smack to the 50, and is now flirting with 127. Not to be deterred, I got right back in, because I think it's hit. And I base that on absolutely nothing but the fib. Since I'm sitting here, I'm not settin any stops, just gonna watch it.
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  • #5,745
  • Jan 22, 2010 11:10am Jan 22, 2010 11:10am
I have a account with Fxcm and for some odd reason my chart went blank and now it won't let me log back in.
  • #5,746
  • Jan 22, 2010 11:21am Jan 22, 2010 11:21am
Looks like FXCM servers went down. I can't get back in either. But my other broker feeds are fine so it's not me.

Quoting Checkz
I have a account with Fxcm and for some odd reason my chart went blank and now it won't let me log back in.
  • #5,747
  • Jan 22, 2010 11:52am Jan 22, 2010 11:52am
Quoting Leche Mocha
Looks like FXCM servers went down. I can't get back in either. But my other broker feeds are fine so it's not me.
Im kind of getting tired of Fxcm. They had the same problem a while back. Does anybody know of a real good broker that has micro accounts that I can trade with?
  • #5,748
  • Jan 22, 2010 11:54am Jan 22, 2010 11:54am
I am on a train at the moment so I can't look at any charts very well. I believe I checked the daily candles earleir and seem to remember I would still have my fib on the day before yesterdays candle as yesterday did not complete it but I need to be indoors so I can check it properly. Reason being I prefer to wait for the 138 completion before moving it but that is my preference.

I hope you are only trading a demo still? Before you decide to trade any method I would suggest you spend plenty of screen time on it in demo. Another trading rule I stick by is if you have doubts get out!

Talk later.

MD.
Keep smiling
  • #5,749
  • Edited 12:25pm Jan 22, 2010 12:23pm | Edited 12:25pm
Quoting Misterdaz
I am on a train at the moment so I can't look at any charts very well. I believe I checked the daily candles earleir and seem to remember I would still have my fib on the day before yesterdays candle as yesterday did not complete it but I need to be indoors so I can check it properly. Reason being I prefer to wait for the 138 completion before moving it but that is my preference.

I hope you are only trading a demo still? Before you decide to trade any method I would suggest you spend plenty of screen time on it in demo. Another trading rule I...
Hi buddy....I think I'm becoming a bit partial to moving the fib every day. I'm not married to the idea yet, but if you put a fib on the daily on the 20th, following the Compass method, you would have gone short following several breaches of the 0. As you stated, the candle has yet to complete, and the short position would have never hit a target, not even 127 (which I think you don't have on your fib). Fibbing yesterday's candle has sent me on a journey long after 4 decisive breaches of the 100 as well as a couple closes above 100. As I mentioned earlier, it did drop to 50 (a pinbar) before moving up again, and is currently trending upward on a H1 chart. Of course, I need to do more testing to decide when I wanna move the fib, but so far, every day seems to be cool. I have two glorious days away from the coal mine, so I'll be testing a lot while at the same time, being a total disappointment as a husband and father!
Anyway, give it a glance when you get in front of a larger screen and fib yesterday to see if I'm on the right track. thanks!


I am only trading a demo.......I'm all for charity, but I'm not ready to donate a large sum of money to an FX broker just yet!

ed
  • #5,750
  • Jan 22, 2010 12:28pm Jan 22, 2010 12:28pm
Quoting Naynay
Here's what I was talking about. Note that this is just some weird feature that I stumbled upon, and I still haven't worked it out yet......

Note how the price respects the yellow fib lines between the red fib lines.
(The red fib lines are the previous day's fib lines)
In this case the yellow fib lines were made between the last day's...

Check Fib clusters Naynay
  • #5,751
  • Jan 22, 2010 12:38pm Jan 22, 2010 12:38pm
Hi Checkz,

straight forward trade yesterday.

I entered at 78.6 short - target was the 0 line as per my predicted targets post.

SL was the 100 line and if it was hit then I would have reverse traded it to the 138.2 also as per predicted targets post.

Projected targets are nearly always hit, and if not there is a very strong reversal trade in play.
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  • #5,752
  • Jan 22, 2010 12:45pm Jan 22, 2010 12:45pm
Hey guys I do this stuff for a living, drives me bananas. When I grow up I want to be a porn star.

MD.
Keep smiling
  • #5,753
  • Jan 22, 2010 1:08pm Jan 22, 2010 1:08pm
Quoting Misterdaz
Hey guys I do this stuff for a living, drives me bananas. When I grow up I want to be a porn star.

MD.
If your avatar is anything to go off, you should stick to munching on grass.
  • #5,754
  • Jan 22, 2010 1:44pm Jan 22, 2010 1:44pm
Quoting Checkz
Im kind of getting tired of Fxcm. They had the same problem a while back. Does anybody know of a real good broker that has micro accounts that I can trade with?
InterbankFX
  • #5,755
  • Jan 22, 2010 2:03pm Jan 22, 2010 2:03pm
Quoting FX Compass
If your avatar is anything to go off, you should stick to munching on grass.
I think the jokes over with the sheep, he's gonna have to go.
Keep smiling
  • #5,756
  • Jan 22, 2010 2:27pm Jan 22, 2010 2:27pm
Quoting Misterdaz
I think the jokes over with the sheep, he's gonna have to go.
How about and Agelina Jolie avatar... so we have something nice to look at when we are conversing.
  • #5,757
  • Jan 22, 2010 2:40pm Jan 22, 2010 2:40pm
Whhooooaaa.
Keep smiling
  • #5,758
  • Jan 22, 2010 2:40pm Jan 22, 2010 2:40pm
Don't know if this has been discussed. Check it out for yourself.


Bartstop

EDIT: MD, you're kinda...........sexy. Mama Mia.
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  • #5,759
  • Jan 22, 2010 2:46pm Jan 22, 2010 2:46pm
another...........
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  • #5,760
  • Jan 22, 2010 2:55pm Jan 22, 2010 2:55pm
The moderators might slap my wrist for her. Hey, I wouldn't mind giving her a slap!

Better talk about FX I suppose.

Ed, fibbing yesterdays EURUSD gave one of those days that Compass warned me about, ranging between 76.4 and the 100 line, not much you can do about that. Hopefully they don't happen too often.

If you had left the fib on the day before, you would have only taken one trade today, the 23.6 to the 50. There were 2 bites of the cherry at this trade today, the first didn't quite make it but with a trailing stop you would have taken something and the second all but got there. I appreciate we are all awake at different times so some trades would be missed.

Your fib.
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Day befores fib. There again you might have got stitched on yesterdays trading.
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Keep smiling
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