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Indicator Free Trading - Skunny

  • #6,341
  • Apr 7, 2010 11:01am Apr 7, 2010 11:01am
Quoting RaptorUK
What is the significance of your sell trigger at 142.48 ? I mean why there ? if there is no rational reason then why sell there ? not saying you are wrong just trying to understand your reasoning.

This is one of the things I don't understand about Fibs.
God told me to do it!

61.8 - 50, then I took the break of zero. Not a usual setup for me but one that has worked in the past. I took 50 pts. This is still experimental stuff for me. I thought I'd try and start posting some charts so as to put my money where my mouth is.

MD.
Keep smiling
  • #6,342
  • Apr 7, 2010 11:19am Apr 7, 2010 11:19am
Quoting Misterdaz
God told me to do it!

MD.
LOL

I noticed the 62 and 50 . . . I don't see anything at the 0 that makes it much of a trigger though . . .

My philosophy is that I will put money where my mouth is when I know I can win . . . until that time I'm on DEMO.
20 pips a day isn't too much to ask . . .
  • #6,343
  • Edited 11:47am Apr 7, 2010 11:27am | Edited 11:47am
Quoting RaptorUK
LOL

I noticed the 62 and 50 . . . I don't see anything at the 0 that makes it much of a trigger though . . .

My philosophy is that I will put money where my mouth is when I know I can win . . . until that time I'm on DEMO.
We can never really know we can win otherwise we would be trading 100%, wouldn't we?

MD.

Edit: yes I know you said "can win" not "will win" subtle difference.
Keep smiling
  • #6,344
  • Apr 7, 2010 11:57am Apr 7, 2010 11:57am
While I have taken live trades for my employer using fibs and been mostly successful these trades I have posted are demo. I just wanted to post some charts to give myself some credibility whether I win or lose. Constructive criticism is always welcome. I'm sure I will get some!

I do plan to open a live account, a few things to check out first plus it doesn't hurt to blow some fake money. Yes I know live money puts a whole different kilter on things. So far the fake money is increasing so things are looking promising. I'm realistic though and I know fibs aren't magic I just feel comfortable using them as apposed to say trendlines or RSI.

It's what floats ones boat.

MD.
Keep smiling
  • #6,345
  • Apr 7, 2010 1:03pm Apr 7, 2010 1:03pm
Quoting Misterdaz
We can never really know we can win otherwise we would be trading 100%, wouldn't we?
We can still win without being 100%, it's all about win rate and Risk vs Reward, it's just maths. I posted a spreadsheet about it . . .

For example, if I know I can have a win rate of 50% and a Risk:Reward of 1:2 then I know I will win.

Keep blowing/making fake money till you know the consistency of what you are doing and that your Win rate is good enough for the R:R that you are getting.
20 pips a day isn't too much to ask . . .
  • #6,346
  • Apr 7, 2010 1:47pm Apr 7, 2010 1:47pm
I said something very similar to that way back in the thread somewhere. It's not getting in I'm still working on, it's the getting out and protecting my account when I do go in.

The main fib setup I have used so far has a 50/50 r/r. Now you don't have to tell me that will be b/e in the long run, I know the maths. The only thing that works in it's favour is the apparent high probability of winners. Needless to say I am still trying to perfect this. I find the blind faith in the fib that Some have very hard to come by but I have so far been pleasantly surprised.

Always good to talk Raptor.

MD.
Keep smiling
  • #6,347
  • Apr 7, 2010 2:55pm Apr 7, 2010 2:55pm
I have a question, where should we draw our fibs? Should it be from the wicks or the bodies? Here's a picture of what I mean. It's taken off of the Eur/Usd 1hr chart.
Attached Image (click to enlarge)
Click to Enlarge Name: Rodneys Chart.JPG Size: 95 KB
  • #6,348
  • Edited 3:23pm Apr 7, 2010 3:03pm | Edited 3:23pm
Depends who you talk to I suppose. Whenever I draw anything on a chart, not just fibs, I use the wicks. That way we are gauging the full extreme or range of price. If you switch over to a line chart and pull a fib then switch Back to candles you will see the fib mostly sitting on bodies. Line charts are usually set to the close of each period hence the candle body.

That's my 2 pence worth.

MD.

Edit: Damned Iphone autocorrect.
Keep smiling
  • #6,349
  • Apr 7, 2010 9:52pm Apr 7, 2010 9:52pm
Quoting Misterdaz
Depends who you talk to I suppose. Whenever I draw anything on a chart, not just fibs, I use the wicks. That way we are gauging the full extreme or range of price. If you switch over to a line chart and pull a fib then switch Back to candles you will see the fib mostly sitting on bodies. Line charts are usually set to the close of each period hence the candle body.

That's my 2 pence worth.

MD.

Edit: Damned Iphone autocorrect.
Thanks have you heard from FxCompass lately.
  • #6,350
  • Apr 8, 2010 1:09am Apr 8, 2010 1:09am
I haven't Checkz but I'm sure he's still around.

MD.
Keep smiling
  • #6,351
  • Apr 8, 2010 9:42pm Apr 8, 2010 9:42pm
Quoting FX Compass
Hi Plaforte,

I have attached the indicator you are requesting.

It shows
Daily High = Blue Line
Daily Low = Red Line
Daily Mid Price = Yellow Line.
Did anybody use these indicators that FxCompass posted and if so can anyone post a picture of how they are suppose to look on a chart? Also What was are is the prupose of the indicator?
  • #6,352
  • Apr 9, 2010 3:28am Apr 9, 2010 3:28am
Quoting Checkz
Did anybody use these indicators that FxCompass posted and if so can anyone post a picture of how they are suppose to look on a chart? Also What was are is the prupose of the indicator?
Hi Guys, moving house so I have crap everywhere.
I just found the laptop again....hehe.

Here you go Checkz.

I use it for easily plotting the previous days Fib High/Low.
Attached File(s)
File Type: mq4 BreakOut_BOX_5HML.mq4   23 KB | 519 downloads
  • #6,353
  • Apr 9, 2010 1:58pm Apr 9, 2010 1:58pm
Quoting FX Compass
Hi Guys, moving house so I have crap everywhere.
I just found the laptop again....hehe.

Here you go Checkz.

I use it for easily plotting the previous days Fib High/Low.
Thanks and im glad to see you posting again please. Happy house moving!!!
  • #6,354
  • Apr 9, 2010 3:03pm Apr 9, 2010 3:03pm
I hate I missed this trade!
Attached Image (click to enlarge)
Click to Enlarge Name: Rodneys Chart.JPG Size: 153 KB
  • #6,355
  • Apr 12, 2010 11:46am Apr 12, 2010 11:46am
Sure is quiet in here. MD must be shaving his chicken legs.
  • #6,356
  • Apr 12, 2010 12:12pm Apr 12, 2010 12:12pm
Quoting bartstop
Sure is quiet in here. MD must be shaving his chicken legs.
These are lucky chicken legs. If you must know I have been deep in thought and preparing some bits for my "friends".

I've got roast chicken for dinner tonight, I don't know what to tell the wife!

MD.
Keep smiling
  • #6,357
  • Apr 12, 2010 12:17pm Apr 12, 2010 12:17pm
Quoting Misterdaz
These are lucky chicken legs. If you must know I have been deep in thought and preparing some bits for my "friends".

I've got roast chicken for dinner tonight, I don't know what to tell the wife!

MD.
MD, I'm confused. Are you saying you found the Holy Grail, and you are going to serve roast chicken in it?


BarTstop
  • #6,358
  • Apr 12, 2010 12:29pm Apr 12, 2010 12:29pm
Quoting bartstop
MD, I'm confused. Are you saying you found the Holy Grail, and you are going to serve roast chicken in it?


BarTstop

If you keep roasting me I'll never tell you.
Keep smiling
  • #6,359
  • Apr 12, 2010 12:34pm Apr 12, 2010 12:34pm
Quoting Misterdaz
If you keep roasting me I'll never tell you.
I think TK already told us. The pic in this post is it. If you can find this set up, you have guaranteed profits (as close as you can get in forex anyways).

http://www.forexfactory.com/showpost...postcount=4317


Or did you find something else?


BarTstop
  • #6,360
  • Apr 12, 2010 1:19pm Apr 12, 2010 1:19pm
That is one setup, there are others.

Talk later.
Keep smiling
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