Indicator Free Trading - Skunny

Hey! I've enjoyed reading your post but could you let the man answer? Thanks.

Sounded to me like he was harboring a hateful grudge against the Soggy Bottom Boys on account of their rough and rowdy past. Looks like Homer Stokes is the kind of fellow who wants to cast the first stone.

"In my worthless opinion, (IMWO) the first thing you need to identify before you trade is your stop area.

Trade the lot size accordingly.

If your stop is 100 pips away, less of a lot size, only 15 pips away you increase your lot size for the % you want to trade.

But, you need to understand where that stop is.

It's just not in a place you feel comfortable."

Thats what i thought. Yet again, another trader full of piss and wind, claiming to be 90% accurate but not willing to prove it. This is exactly why these forums have become so messy. Extraordinary claims require extraordinary evidence, yet skunny and all his so called ''successful traders'' have nothing to offer. Anyone can make claims of 90% accuracy, i could but i would be lying just like the rest of you. Put up or shut up...

I'll venture to guess if you had put in the amount of hrs necessary to trade successfully, would you care one whit what someone thought you should prove. My ego needs no followers to make me feel fulfilled. Good luck in your future endeavors.

Bottom line, there are some very great nuggets of s/r trading info in this thread and I'm personally convinced that each one must spend thousands of hours reading/testing/live trading to become consistent. No amount of proof by me or Skunny or anyone will give someone the "Moley Quail". I'm not claiming to understand everything in the market, everything that Skunny tried to show or that I'm perfect in any way. Only that what I set out to accomplish 3-4 yrs ago has happened, I'm making money in the fx market!

How many traders are still searching for this illusive myth? The truth of the matter is there is no holy grail for forex trading. At least no system which you can just blindly follow and expect to make profits 100% of the time.

Of course being successful as a forex trader is a matter of training and experience - which together boil down to knowledge obtained by learning. Making profits in forex trading is about how you approach the game. There are some fundamental rules - such as setting stops and how much capital you should risk per trade. These two things will help preserve capital - which will keep you in the game longer, so then you can gain experience.

There are also fairly well accepted adages such as trade with the trend. That one is based on Newton's law of Physics regarding inertia - trends persist until broken. Although not an holy grail formula it is a fair system to accept that in a trending market the direction will persist until some force or event impacts on a currency to cause it to reverse. Using the analogy of a motor vehicle - you can expect cars to continue down the road they are on until - a traffic cop redirects them, they have an accident, they get to where they are going.

Instead of there being a 50/50 chance of the direction continuing analysis of fundamentals and news, plus technicals indicating an overbought or oversold situation exists can put the odds in favor of following the trend.

The above is not a sure win formula for all trades and all types of markets - but if you only trade trending markets the probabilities of winning are far higher than either betting against the trend or trying to predict changes, or attempting to trade a ranging market.

If a trader can not get a trend following system to work then clearly they should not attempt to trade any other type of market. However once they do master the above then they can explore other market situations - and gamble a little more - with lower probabilities of success.

Yeah well, let me repeat my question, if you're not willing to help, and you already know how to trade fibs, then what the heck are you doing here posting your results that nobody cares about?

It's amazing what 4 words can re-ignite. Great entertainment chaps, keep it up.

OGW, Lowell is just making the point that the fibs work for him and he's a happy man, or baby.

MD.

Yup and defending Skunny's character, which gets bashed every so often by frustrated peeps.

Awwwwwww, brownie points for you cowboy!

I can understand this statement. Why? because I had often felt the same way. I used to wonder if Skunny really didn't know but wanted us to help him figure it out. He used to really p me off sometimes. Not that I hated him or anything. Its just that I reached many points of frustration along the way that made me ask myself the same questions. So yes I do understand where you are coming from.

But as 3Dog said, no one is going to give out really valuable info - especially in a public setting. Sure the threads here at FF are full of ideas and workable methods, some good some bad, but that's not the point. If the HG does not exist, so what. But assume that it did and you knew what it was - would you reveal it here on a public forum? Probably not.

Now I do understand the frustration in these parts. I have no negative feelings toward anyone feeling this way. As I'm saying I've been there too. Though this thread has some good stuff in it - enough to be profitable with Yes, the truth is there is more needed than what you'll find here alone, if you're looking to understand every turn around point, pivot and target.

Fortunately enough for me - I had the advantage of participating in tradefibs. Now it wasn't just the teaching and methods, but it was a combination of that + my own blood, sweat and tears (yes many of them too!) + the group setting where there was encouragement, support and more from my peers.

Anyone who has diligently read this thread can see that in the beginning I was 90% newbie with no clue whatsoever. Never had I ever made a single trade call in these parts until recently. I would never do so unless I was pretty certain. I still get failures too now and then, but no big deal as long as I'm making cash regularly. There are many profitable methods that can be built off the info in this thread. My old backtesting chart I posted was one of those. I think the problem is people are too fixated on needing to have to the pip targets, and until they FULLY understand that part of it and why they happen or don't happen - they have difficultly looking at the rest.

It seems some here have the right idea and others I just don't know. People like Kissfan and some others are trying to find sensible ways to make things work with the information they have been shown or discovered. If this thread is to go anywhere from here - a similar attitude and approach is needed. If you don't find anything useful here, then move to another thread and start working on something that you do find useful. Traders waste too much time trying to disprove others either to save face or whatever the reason may be. If you want to trade and trade profitably - you start by either doing it on your own or finding like minded individuals to help you.

Obviously there is not going to be any help here except for what I've said already and perhaps the individual trade calls from 3D or ? - but even then you shouldn't want or need them. not saying people are, but traders need to become the trader and never rely on one's trade signals or half written info. If many of us never followed Skunny to the tradefibs website, it really is hard to say how many of us would even be trading fibs at this point.

But, it does seem that many still want to participate here - so I say let them do so without the constant bashing. Its not needed and there is no need to prove or disprove anything to anyone - including newbies. No one here is selling anything, so to state I'm saving newbies is bogus IMO. The journey is an individual one and each person is responsible for their own path. If you find nothing here of value - move on. If you do, then stay and make the most of what you can.

Thank you Gridtrader


Very well put.

I had heard recently that Skunny was buying some land in Guyana to start what is touted to be a traders training camp. Is there any truth to this? I heard it was going to be very beautiful there, like heaven on earth. All the buildings and grounds will be built according to the Fibbonacci sequence. Sounds pretty cool to me, if all of you tradefibs guys are willing, I'd like to come along too.

Thanks so much for the consideration,

Scotty

I'd like to come too but only if I can be in a position of power. High Priest of the Golden Ratio maybe.

I don't know if that is going to work, Euro. One of the rules of Fibtown is that you must think positive at all times and I'm not so sure you can live up to that. Also, you must be able to operate an automatic weapon, drive a tractor, and preferably have some farming experience.

I can tell fibs though, surely that's got to count for something!

Not in one million years.....or at least not in 1.382 million years!!

Hey Grid!! (Hey Lowell, Rap, and the rest of you's guys). Nice to see you guys on the other side of the tracks!

Mister Daz was right. This circus is rather amusing (who's got the peanut & popcorn concession.....Scotty???) Actually it is more than amusing. It is reassuring. Like 3dog said....watch human behavior in action. This thread is a freekin lab experiment. And the characters are great. From the self-proclaimed, answer-for-everything guru (whose own guru lost 50K on his last trade call) to the sophomoric name callers.....they are all there!

The funniest part is these guys actually think they have a clue what those of us who have spent the last several years at this are doing. Amusingly pretentious to say the least. Sad for them.....good for us. They would not even be able to imagine what we see on our charts every day. That is all I have to say about that.

Any of you newbs out there that are serious about this.....stick with it. Like Grid, 3dog, Egg, and others have said.....there is something here. But it is not something you will ever unlock without those years of study talked about. And if/when you do get it....you will never talk about it publicly. But......you will chuckle at those who dismiss it and you! I am chuckling......a lot!

My only real reason for posting today is karma. I feel I owe the newbs that much. I can only imagine the trauma to my trading learning curve had I listened to the "know-it-alls", "neer-do-wells" and other "nattering nabobs of negativism". If what you see here resonates with you....go for it. If not.....check out Scotty's threads....or Agame....or ogw.....or euro....or whoever else comes here as a critic. I am sure THEY will teach you how to "make money every day" like Lowell talked about.


Anyway....had to join in on the fun. Back to Skunny island for me...I have a tennis date with Thom Knight.

P.S. (Sorry for breaking bad....I know I should have said nothing...I just could not resist. Rest assured I will not further engage the "sure to be forthcoming" replies to what I say here)

P.S.S. Grid....glad you did not have to eat Sizz shoes...lol.

Will there be any refreshments?

Wowzers dowsers DUde you can't chew on my shew!...mostly because let's be honest do I really wear shoes? Or pants..man I gotta get it together hahaha

Skip"whats that smell?" Frisbee III