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Indicator Free Trading - Skunny

  • #7,081
  • Mar 9, 2011 7:49am Mar 9, 2011 7:49am
Hello Newark18,

If you are trying to learn the Skunny method to a letter as taught by the man himself in this thread, the first thing you would need to do is get rid of your TP2 on your fib and just keep the 138.2 extension. The second piece of advice I'd give you is to study only his posts (with the exception of one post by Hanover)as the rest is mostly speculation. This can take thousands of hours to see but once you start to see some of it, the ideas will flood your psyche.

K.I.S.S.
  • #7,082
  • Mar 9, 2011 8:08am Mar 9, 2011 8:08am
KissFan,

Noted. Please feel free to provide any further wisdom.

Thanks.
  • #7,083
  • Mar 10, 2011 9:11pm Mar 10, 2011 9:11pm
I am fibbing EU and I can't seem to figure out how I mis-fibbed (in red boxes, broke thru both 0 and 100% base of fib) one cycle unless the wick within the bottom red box is bad data. I didn't show all my fibs because it would have been cluttered. I am just showing the important ones.

http://i55.tinypic.com/14ahlaa.gif
  • #7,084
  • Mar 11, 2011 7:21pm Mar 11, 2011 7:21pm
Quoting newark18
I am fibbing EU and I can't seem to figure out how I mis-fibbed (in red boxes, broke thru both 0 and 100% base of fib) one cycle unless the wick within the bottom red box is bad data. I didn't show all my fibs because it would have been cluttered. I am just showing the important ones.

http://i55.tinypic.com/14ahlaa.gif
sometimes this happens Newark, for me i would of still had my fib on the day before because that had triggered long, then you would of avoided that false breakout...

http://i1222.photobucket.com/albums/...12at011834.png
  • #7,085
  • Mar 11, 2011 9:48pm Mar 11, 2011 9:48pm
Here are my latest fibs. I know the blue and red fibs are correct because Skunny has already indicated as such. I fibbed backwards and forwards. No idea yet if this is entirely right but so far no mis-fibs (if you count a touch on TP of gray fib). I am focusing more on non-minor swings (as I have yet to see Skunny fib a minor swing although his S&R chart delineated all even minor S&R points)

Comments are welcome.

http://i56.tinypic.com/ohof7m.gif

http://i52.tinypic.com/2aj566u.gif

http://i54.tinypic.com/a9ljmh.gif
  • #7,086
  • Mar 11, 2011 9:50pm Mar 11, 2011 9:50pm
Quoting darrenlittle
sometimes this happens Newark, for me i would of still had my fib on the day before because that had triggered long, then you would of avoided that false breakout...

http://i1222.photobucket.com/albums/...12at011834.png
DL, how do you save and upload your images? It looks so nice and I like the wide-screen format.
  • #7,087
  • Mar 11, 2011 10:18pm Mar 11, 2011 10:18pm
My last ones for tonight. The green and white fibs are a bit weird but this was the only way I could (for the time being) think of a way to avoid a mis-fib (as seen with the breach at the black x mark).

Skunny talked about overflow when market reverses. But he didn't (from what I can tell) explain what he meant by it. I still have some reading to do but I haven't come across it yet.

http://i54.tinypic.com/6530w0.gif

http://i53.tinypic.com/z8m5f.gif
  • #7,088
  • Mar 12, 2011 8:38pm Mar 12, 2011 8:38pm
Pipo originally fibbed GJ (Jan-2008) like this:

http://www.forexfactory.com/showpost...postcount=2381

But this is how I did it:

http://i55.tinypic.com/11lm0qd.gif

Here is a close up of the potential trouble area:

http://i55.tinypic.com/vk94.gif

In real time, I doubt I would have fibbed the last white fib where it is now. I probably would have chosen the closer resistance level.

Skunny confirmed that Pipo's was correct (at least the fib dealing with the trouble area). Anyone else want to comment? (I am guessing that I am talking to myself like I have the past few nights)
  • #7,089
  • Mar 13, 2011 8:51am Mar 13, 2011 8:51am
Quoting newark18
I am fibbing EU and I can't seem to figure out how I mis-fibbed (in red boxes, broke thru both 0 and 100% base of fib) one cycle unless the wick within the bottom red box is bad data. I didn't show all my fibs because it would have been cluttered. I am just showing the important ones.

http://i55.tinypic.com/14ahlaa.gif
what is a zig zag indicator,,??
only an analysis, and I'm always wrong, don't follow me,
  • #7,090
  • Mar 13, 2011 4:58pm Mar 13, 2011 4:58pm
Quoting newark18
Pipo originally fibbed GJ (Jan-2008) like this:

http://www.forexfactory.com/showpost...postcount=2381

But this is how I did it:

http://i55.tinypic.com/11lm0qd.gif

Here is a close up of the potential trouble area:

http://i55.tinypic.com/vk94.gif

In real time, I doubt I would have fibbed the last white fib where it is now....
im following along Newark... I think lots of people tried to figure out exactly what Skunny was doing, some might of succeeded but i think most went on to develop their own style of using the fibs and the extensions...

imho the best two things Skunny said were...

1. fib support and resistance, look where price goes when these levels are broken...

2. backtest a whole year using vhands.... meaning if you look and fib enough you will see that price follows patterns and you will learn to trade the levels... watch price breaking the levels, retesting, bouncing... it will get easier if you stick at it and it looks like youre on the right track...
  • #7,091
  • Mar 23, 2011 5:05am Mar 23, 2011 5:05am
Quoting KissFan
The second piece of advice I'd give you is to study only his posts (with the exception of one post by Hanover)as the rest is mostly speculation.
This here is great advice. It also helps to get through this long thread much quicker, picking out only the posts that matter. Glad I skipped forward and seen your post.

I did read several of the other pages too. I'm not sure which one from Hanover you are referring too. Could you point that one out? Sorry to ask. Not being lazy here. Its just a long thread and your post made sense, so I'm taking that advice. Thanks!
  • #7,092
  • Mar 23, 2011 6:19am Mar 23, 2011 6:19am
Quoting LetterBlack
This here is great advice. It also helps to get through this long thread much quicker, picking out only the posts that matter. Glad I skipped forward and seen your post.

I did read several of the other pages too. I'm not sure which one from Hanover you are referring too. Could you point that one out? Sorry to ask. Not being lazy here. Its just a long thread and your post made sense, so I'm taking that advice. Thanks!

Not sure what post # it was but it was the one where he said " Price will always complete its current cycle ..."
  • #7,093
  • Mar 23, 2011 8:29am Mar 23, 2011 8:29am
Quoting KissFan
Not sure what post # it was but it was the one where he said " Price will always complete its current cycle ..."
That is interesting. Makes me think. I really appreciate your reply!

There was one other post here that appears to be important as well. What's funny to notice is nobody in any of the posts following afterward even bothered with what this person did (sorry I have to laugh a little). No wonder so many here are or were struggling. It was a page in the 100s or so of a 4 month back testing chart. It was not perfect , but it did climb up pretty steady. Skunny seemed to like what he/she did. Looked simple and inline with what this thread starter said for everyone to do. Trade in the direction of the higher time frames.
  • #7,094
  • Mar 23, 2011 9:16am Mar 23, 2011 9:16am
I think we are looking good for a short here. I've traded Fibonnacci for a few years now, but what do I know?
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  • #7,095
  • Mar 23, 2011 10:11am Mar 23, 2011 10:11am
I am in EURCHF. You can see my fib. PA at pivot zone was my trigger.

http://i53.tinypic.com/24bs1ls.gif
  • #7,096
  • Mar 23, 2011 11:53am Mar 23, 2011 11:53am
First round of vhands testing completed.
Perhaps the problems in this thread are the traders and not the fib.
Entering at the break is suicide. Use PA for the entry on 1 hour and follow the bigger time frames. Daily or weekly works just fine.
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  • #7,097
  • Mar 23, 2011 12:07pm Mar 23, 2011 12:07pm
Nice job. So you look for a piece on the daily or weekly TF and use H1 to entry using PA. Do you focus on PA at certain significant levels (i.e., PZ, S&R, support and demand, fibs or etc)?

I am working on combining everything. If you wouldn't mind, I would love to see a chart on how you fib.

Thanks.

PS - How does one use different TFs using vHands?
  • #7,098
  • Mar 23, 2011 12:12pm Mar 23, 2011 12:12pm
Quoting newark18
Nice job. So you look for a piece on the daily or weekly TF and use H1 to entry using PA. Do you focus on PA at certain significant levels (i.e., PZ, S&R, support and demand, fibs or etc)?

I am working on combining everything. If you wouldn't mind, I would love to see a chart on how you fib.

Thanks.

PS - How does one use different TFs using vHands?
Thanks. I traded at the inner levels. Look for price action near them and watch how PA reacts. Better risk to reward this way. For larger time frames I zoom the chart out and use my period separators.
  • #7,099
  • Mar 23, 2011 2:48pm Mar 23, 2011 2:48pm
Approaching march 11 highs. Could be a good low risk opp to look for shorts.
Waiting for PA to show its hand. Ace of spades will do. No jokers please.
Attached Image (click to enlarge)
Click to Enlarge Name: aud march highs.gif Size: 13 KB
  • #7,100
  • Mar 23, 2011 2:59pm Mar 23, 2011 2:59pm
Quoting newark18
I am in EURCHF. You can see my fib. PA at pivot zone was my trigger.
Now might be a good time to short that bad boy.
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