Indicator Free Trading - Skunny

Sizzler,
I'm new to FF. Got here by Googling something.. dunno what.. months ago. Anyway, I landed on this forum that Skunny started. I started reading from the beginning... got myself all excited... put it away for a while and I came back today and decided today to jump to the end, where I see a whole bunch of whinin goin on. My question is, is it live or is it memorex... like is this worth reading? The only reason I'm asking you is you seemed to have really good sense... at least in 2007... LOL. Can you help me out... save me some time? I'd greatly appreciate it. I know that's a pretty random request from a total stranger...

If nothing else; let me compliment you on your wise choice of probably the most sensible person to post in this thread. If you can understand his street lingo, you probably have what it takes to decipher these fibs!!

Kidding aside; I am sure Sizzler is a fine chap!

Good luck mate!

Ahh dew this is a really solid q! I think I can say it this way:
This is really tough to learn(for me) it took like 3 years and I am still learning nuances If you want the ability to be like 95 plus correct allowing for brain farts then yes indiddly. Butt the observed learning curve is like 2 to 3 years. I am sure like in sr trading if you crack the why does it work it gets shorter.

If you say you want to make simple money now then I say pick up a simple non fib sr system with breakout triggers I was almost immediately profitable with that when I started trading. Standard schtuff won more then I lost win more when I won then I lost durr.

So if you are looking fr easy moolah this isnt the style(until later haha) money now? Just trade pasr build your business while you study fibs. So long story long ish if you don't trade now pick up something that takes a very short time to figure out like a j16 but breakouts or you can use pins I guess then study the pants off of skunny fibs this is worth it but is can suck hind teat figuring it out especially if you are trading before you do hahahahha but yes this took dude 5 years to figure out and he made this baby. So if you walk this road be patient.

I couldn't have been more shocked if someone asked me to babysit or do their taxes . I like to keep it real... Real not mrt haha stubs are the whip but road sucks since an unexplained failure kills all of your work haha good thing I was still partying like a Kennedy through the major learning process or my walls would have had more holes in them hahaha oh yeah dude who asked the q if you get a fail you have to shut down and figure out usingthe same methodology what went pear shaped from experience if you go off half cocked you have a terrible re system that will pop you accounts like a bacon heart in a marathon...you don't need em a volvo gets you to cashville just slower then a mclaren

God I suck at talking. so yes these do what they say they do it is just not easy to get that understanding all markets are set beforehand and predetermination sadly is a fact of life..or not sadly for trading haha anything else lemmino Buena suerte!

Thanks much, sizzler. I actually don't trade fx... I'm strictly an equities kinda gal but it all applies. I already have a well-defined method but was intrigued by this as an addition to it. I guess I know all I need to already about the fib extensions and how to use them. I'd probably manage my risk differently than he's laid out thusfar... or at least as far as I've read. Glad I stopped for a gut check. You are most kind for corroborating. Happy trades!

Well my personal thought is this... i have used this trading things like JPM aapl...and it works like a charm obviously. but i think a lot of sense is to be made.. that trading is a marathon...and unless you ahve a burn to figure these out.. and it is worth it but you need a burn... since for me it was 1000% tougher then normal trading.IF your money machine aint broke no need to fixeruppa i see no reason to use fibs other then this... since in my eyes normal fibs are still black magic guesstimations compared to observable historical SR. Best of luck to you!

[quote=sizzler;4007446]Ahh dew this is a really solid q! I think I can say it this way:
This is really tough to learn(for me) it took like 3 years and I am still learning nuances If you want the ability to be like 95 plus correct allowing for brain farts then yes indiddly. Butt the observed learning curve is like 2 to 3 years. I am sure like in sr trading if you crack the why does it work it gets shorter.[quote]

Well I've done a year Sizz, I must get some sort of free badge or shoe for that.

Take care.

MD.

[quote=Misterdaz;4011202].

Here's your free merit badge. Enjoy.

[quote=bartstop;4012555] Now that has got Avatar written all over it!

MD.

1. Carpel Tunnel Syndrome - Check
2. Eyeballs Bugging Slightly Outside of Skull-Check
3. Mucho Hours Spent on Forex Tester and Just Pulling Fibs Since Feb-Check
4. Duct Tape Adhesive On Head Hair Follicles-Check
5. Switcing Attitudes From Pissed Off to Positive & Back and Forth Again AND Again-Check
6. Read and Re-Read All Of Skunny's Material Dozens of Times Over Casting No Detail Aside-Check
7. False EUREKA Moments Followed By Flickers of Enlightenment-Check
8. Knowledge That This Material Is Within Reach Now-Check

This is really starting to make sense. It has also been one of the most intense studies of my life in such a short time (7mos). Am I there? No sir. Is anyone? I'd venture to say that Skunny himself is not where he would like to be. I do profess that I am finally a true believer though. I'm not exactly sure how one would actually teach this stuff. It seems to me that one needs to take these concepts and observe price within them. Then how does one transfer this experience to another? This is very much coming together though. Thanks to all who have posted here with information and charts related to cycles. There is enough material here alone to get one started down the road to a better understanding price flow.

K.I.S.S.

Hello people.

Before I get to my point, you will have to suffer through some of my personal thoughts. I was a silent follower of this thread in its early days. I return periodically just to check in, and even posted a couple of possibly misguided comments here about a year ago (there's a lot to learn). The recent lively conversations and debates are both educational and entertaining. It also shows that people still have passion and a thirst for knowledge, and the truth. There was debate over just how accurate fibs can be. 100%, 70%? I'm the eternal skeptic when it comes to magical trading systems, or at least I thought I was.

Earlier this year, I was still practicing fibs after reading posts in this thread from December through February. In April, I plotted a weekly fib on GBPJPY. I then walked away from fibs for, well... for whatever reason. I never closed that GBPJPY chart, but it got shoved into the background in MetaTrader. On May 7, the day after the "flash crash", I decided to scan back over some of my charts. GBPJPY had dropped fast all the way to the 423.6 extension on that chart I had shoved aside days or possibly weeks ago. I mean it bounced hard on the exact line. Ok, that could be a coincidence, but it did raise an eyebrow.

In September, I stumbled across another thread about fib trading. This guy uses fibs and some special "formula" that he came up with to predict EURUSD price. He claims his formula is good for an entire month. There is a calculator that he has created that people are using to nail trades with amazing accuracy. The thread has a following that appears to be growing rapidly. It's called the Aboonacci System - http://www.forexfactory.com/showthread.php?t=255974. What do you guys think? As far as fibs go, is something really there? How can the accuracy be so high? This could add proof to the theory that the market is predictable. Skunny claimed near 100% accuracy. This other guy says the same. I'm not claiming anything. Just read the thread.

"Q. So, if you could learn where the weekly was headed and waited for the daily to signal the same and then traded hourly, would that improve your trading? "

If we get a break and support of the blue 38.2, would blue 11.8 be TP1?

If we get a break and resistance of the blue 61.8, would blue 88.2 be TP1 or magenta 23.6 due to the S1 of the Weekly Pivot?

Hmm, Blue 11.80 hit.

If we get a break above Blue 0 then TP at Magenta 161.8 (just below Blue 111.80)?
If we get a break below Blue 23.6 then TP at Blue 38.2?

Where would you put the SLs?

Will this week be a WIB?

Is this the end of the Euro up trend or a pause before taking off?

Bigger Picture.

Euro above Orange 50?

Hmmm, price broke 23.6 and did not hit 38.2.
SL was at 11.8 and SL was hit.

[quote=BarneyDog;4090930]"Q. So, if you could learn where the weekly was headed and waited for the daily to signal the same and then traded hourly, would that improve your trading? "


If we get a break and support of the blue 38.2, would blue 11.8 be TP1? TP 2 would be at Blue 111.8.


If we get a break above Blue 0 then TP at Magenta 161.8 (just below Blue 111.80)? TP 3 hit at Magenta 161.8

I wasn't able to see how to trade fibs perfectly.

I was able to see how to trade fibs.

SL's are still hard, so on the weekly, I keep them close.

Hope the previous examples helped.

Thanks to Skunny and the gang for all the laughs and lessons along the way.

A bit late in posting, but we might be seeing a short term trend reversal or a long term trend reversal, who knows....

However, if price breaks the 76.4, then will it go to 88.2?