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Indicator Free Trading - Skunny

  • #7,101
  • Mar 24, 2011 9:19am Mar 24, 2011 9:19am
Eurjpy, I think its looking good. Decent risk to reward with prior trigger and now entry at the inner fib levels.
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  • #7,102
  • Mar 24, 2011 10:46pm Mar 24, 2011 10:46pm
Quoting LetterBlack
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.
short trade candle breakout
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  • #7,103
  • Mar 24, 2011 10:48pm Mar 24, 2011 10:48pm
Quoting LetterBlack
Now might be a good time to short that bad boy.
Here is what I was following on eurchf. Forgot to post this earlier. Been watching the yen move sideways all week and its driving me nuts.
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  • #7,104
  • Mar 24, 2011 10:58pm Mar 24, 2011 10:58pm
Alright after reading through more posts it appears this thread is pretty dead. Either everyone is at skunny's web site or off doing there own thing in private?

I guess I'll quit posting. Don't want to stir up the mean crowd , Best wishes
  • #7,105
  • Mar 25, 2011 6:28am Mar 25, 2011 6:28am
To the person that sent me a pm I want to say thank you. I cant pm here yet. I am not sure why. Maybe lack of posts but wanted to make certain you know your pm was appreciated.

Cheers
  • #7,106
  • Mar 25, 2011 11:22am Mar 25, 2011 11:22am
Quoting LetterBlack
To the person that sent me a pm I want to say thank you. I cant pm here yet. I am not sure why. Maybe lack of posts but wanted to make certain you know your pm was appreciated.

Cheers
just been checking out ya trading fu Lb.... interesting style, seen something similar from earlier posters on this thread.....


this thread is a bit of a volcano thread, sleeps for a while then starts spitting magma...
  • #7,107
  • Mar 26, 2011 3:30am Mar 26, 2011 3:30am
Quoting darrenlittle
just been checking out ya trading fu Lb.... interesting style, seen something similar from earlier posters on this thread.....


this thread is a bit of a volcano thread, sleeps for a while then starts spitting magma...
The magma seems to take on two shapes. That of new life and that of destruction.

My eurjpy trade failed. The low was a target hit of a fib from the main high, so my thinking is I should not of been short there. I wonder if this is the reason some don't hit target. I will be testing more this weekend.
  • #7,108
  • Mar 26, 2011 10:49am Mar 26, 2011 10:49am
Quoting darrenlittle
just been checking out ya trading fu Lb.... interesting style, seen something similar from earlier posters on this thread.....
.
I was think'in the same thin myself!
  • #7,109
  • Mar 26, 2011 4:28pm Mar 26, 2011 4:28pm
skinning cats... if you can trade support and resistance

Fib's
http://i1222.photobucket.com/albums/...26at212053.png

Trendlines
http://i1222.photobucket.com/albums/...26at211950.png

Bollinger Bands
http://i1222.photobucket.com/albums/...26at211930.png
  • #7,110
  • Mar 26, 2011 4:44pm Mar 26, 2011 4:44pm
Gold trade:

If you've never counted how many breakouts of support and resistance retrace within the range before really breaking out, then you should, if you're serious about trading of course...

or you can just look for a system on FF that works for you, upto you.

Have you ever counted how many candles are inside days, engulfing days or just extend to the high or low only.... you really should!

imagine if you knew you would be right 7 or 8 times out of ten, would that help your trading?...

I spent 8 months reading about other peoples ideas and about 1 month making my own observations.... which do you think was a more fruitfull use of my time?

http://i1222.photobucket.com/albums/.../goldagain.png
  • #7,111
  • Mar 26, 2011 6:29pm Mar 26, 2011 6:29pm
Quoting LetterBlack
The magma seems to take on two shapes. That of new life and that of destruction.

My eurjpy trade failed. The low was a target hit of a fib from the main high, so my thinking is I should not of been short there. I wonder if this is the reason some don't hit target. I will be testing more this weekend.
i dont trade the yen with fibs because of all the intervention.... wether thats relevent or not i dont know... still eu and gu work fine for me
  • #7,112
  • Mar 26, 2011 6:34pm Mar 26, 2011 6:34pm
current EU 1hr chart, red lines are 00 numbers, blue lines are fib levels..

pierce of s/r, retrace and breakout.


http://i1222.photobucket.com/albums/...26at233246.png
  • #7,113
  • Edited 1:26am Mar 28, 2011 12:40am | Edited 1:26am
Quoting darrenlittle
i dont trade the yen with fibs because of all the intervention.... wether thats relevent or not i dont know... still eu and gu work fine for me
I guess to each there own. Do you find this always the case with yen pairs, or just lately?
Sorry you already answered saying because of intervention.

The yen is known for intervening to keep its currency values down, but my belief is that all or most countries intervene as well. The fed comes to mind with its printing machines working overtime. Right or wrong, my current view is this. Support and resistance either holds or it doesn't.
  • #7,114
  • Mar 28, 2011 12:49am Mar 28, 2011 12:49am
Not to stir things up in this thread again, but I feel I need to comment. I find the 100% idea to be something to think about, but not something that can be done all the time. Loses are a part of this game, or any game for that matter. The pursuit for perfection makes one a perfectionist which has its good and bad but can often lead to one never trading or progressing forward because they are afraid of failure , even if it just that one single failure every now and then. Fear should not exist in our trading. Now think of our own past examples when we were still newbies. As soon a system or method had a few failures, we moved on looking to find a new idea or fancy indicator.

I think several here misread the point the thread starter was trying to make. We can use the Fibonacci tool for finding these sup and res areas in price and turn profits by doing so. The point of perfection was a question of why cant we, followed by his two answers which were human error and perfection only within a period of time. I'm sure there are more reasons that should be obvious.

A third one is that we are human and can never be perfect at anything we do in the long term. We may have failed at the task, but that does not mean we failed as a person. We did the best we could with what we have. We accept our loses and move on. I read too much about everything having to be pip perfect or the idea of using fibs was deemed useless. Once a person takes the tool for what it is and finds a way to use it to their advantage, you then have a tool worth keeping. What doesn't work for you, well you throw it away but what you do keep is the knowledge that you gained.
  • #7,115
  • Mar 28, 2011 1:11am Mar 28, 2011 1:11am
By the way , nice lookin trades darrenlittle. Appears to be good risk reward set ups. I think thats the right way to trade these puppies
  • #7,116
  • Mar 28, 2011 2:10am Mar 28, 2011 2:10am
mmm... posted some guff back there... really should think through what im saying more.

The yen pairs are totally fibable, i just find eu and gu easier, that's what i wanted to say...

Agree with you totally LB trading 100%, sure maybe it's possible if youre some sort of freak, but even the best trader with the soundest strat is going to make a mistake, get over it and get back to trading, 60+ percent and you should make profit....

As for being able to trade the way Skunny was hinting at, mapping the market, I havent got a clue, I just keep hanging around here, trading s/r breaks hoping someone will come along and tell me....

LB really like your charts, reminds me alot of the way young Bobukus traded ???
  • #7,117
  • Mar 28, 2011 6:11pm Mar 28, 2011 6:11pm
Quoting darrenlittle
mmm... posted some guff back there... really should think through what im saying more.

The yen pairs are totally fibable, i just find eu and gu easier, that's what i wanted to say...

Agree with you totally LB trading 100%, sure maybe it's possible if youre some sort of freak, but even the best trader with the soundest strat is going to make a mistake, get over it and get back to trading, 60+ percent and you should make profit....

As for being able to trade the way Skunny was hinting at, mapping the market, I havent got a clue, I just keep hanging...
Nah , not charting like Bobokus. It was recommended that I read both so I have been studying his thread too. Looks pretty solid over there , so that might change for me. Maybe too complicated for my small mind though. The fibs here appear less busy letting me see price with more clarity. Just took a sweet short on the euro dollar with some tight risk. Most of these have been working out quite easy.

if I find out this market mapping , I'l let you know Might not be necessary to trade and make profits. Trap sup and res with your fib and its usually good to go.
  • #7,118
  • Mar 28, 2011 6:25pm Mar 28, 2011 6:25pm
Quoting darrenlittle
Agree with you totally LB trading 100%, sure maybe it's possible if youre some sort of freak, but even the best trader with the soundest strat is going to make a mistake,
I just read that again and had to quote it. Yes u are right. Mistakes will happen and they should be expected. Learn from them but don't let them drag you down or keep you from trading.
  • #7,119
  • Mar 28, 2011 7:22pm Mar 28, 2011 7:22pm
Quoting LetterBlack
I just read that again and had to quote it. Yes u are right. Mistakes will happen and they should be expected. Learn from them but don't let them drag you down or keep you from trading.
cool sounds like were on the same train here LB i will fire some trades up this week for you to check out...
  • #7,120
  • Mar 28, 2011 11:56pm Mar 28, 2011 11:56pm
Here's mine from earlier. I like attaching notes and keeping chart pics in a folder. Helps for reviewing them later.
When you watch price alone long enough and price around these fib levels you'll often see these nice what I like to call momentum candles. This is the candle I took my entry on. If these are not where price is making lower lows or higher highs, they can provide confidence price is going in your direction. Have to watch them forming live though. You get a feel for it after watching price action long enough. Not saying they dont work at new lows and highs because they do. Just make sure you are not near any targets where price might stop and reverse on you.
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