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Indicator Free Trading - Skunny

  • #7,121
  • Mar 29, 2011 1:03am Mar 29, 2011 1:03am
Examples of these momentum candles. Again lets keep in mind you have to watch them reacting live. Relying on their shape or size alone is not enough. That is why its called price Action
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  • #7,122
  • Mar 29, 2011 1:30am Mar 29, 2011 1:30am
Quoting darrenlittle
cool sounds like were on the same train here LB i will fire some trades up this week for you to check out...
Sounds good. I'll look forward to seeing them. I'm not new to fibs but still new to this thread and style so anything that might help me out is always welcomed!

I'm off to finish reading the other thread. It takes more study I think and this one has served its purpose for now. It was quite a hoot reading it though. I should of listened to KissFan and read only skunny material, but I'm kind of glad i got to see some of the debating that went on here.

Regards,
LB
  • #7,123
  • Mar 29, 2011 1:46am Mar 29, 2011 1:46am
Gbpjpy going down.
  • #7,124
  • Mar 29, 2011 2:09am Mar 29, 2011 2:09am
Quoting LetterBlack
Gbpjpy going down.
This pair likes to move but that one went quick! This pair being nice today or what...didn't even sweat a drop. Wish every day was like this. Quick in and out...then go do something else.
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  • #7,125
  • Mar 29, 2011 2:17am Mar 29, 2011 2:17am
Quoting LetterBlack
Gbpjpy going down.
Now shes going back up. Okay I'm done. Made enough pips so going to go do other things!!!
Regards everyone.
  • #7,126
  • Mar 29, 2011 8:16am Mar 29, 2011 8:16am
Quoting LetterBlack
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...
A question; if I may.....

On the referenced chart, you indicate you got short at the break. Where is your SL and what is your R:r on that trade? Just wondering.
  • #7,127
  • Mar 29, 2011 8:40am Mar 29, 2011 8:40am
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...
Yeah....agree.


Quote
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,

Is that Rick James in the background?......Thom Knight?.....Sizzler?......3DogNight? LOL!!

But as you say...no matter the strategy....humans ARE prone to screw things up. We also have limited ability to process everything at once. Thus; we may mess up a solid method at times.


Quote
get back to trading, 60+ percent and you should make profit...
.

Should. What is your R:r at that rate?


Quote
LB really like your charts, reminds me alot of the way young Bobukus traded ???

I kinda thought he might be someone else....lol!
  • #7,128
  • Mar 29, 2011 1:20pm Mar 29, 2011 1:20pm
Quoting Brunite
A question; if I may.....

On the referenced chart, you indicate you got short at the break. Where is your SL and what is your R:r on that trade? Just wondering.
No problem. Reward was about 2½ since I took an exit when price broke the small doji. Stop was red line on the chart near the inner res levels.
  • #7,129
  • Mar 29, 2011 1:26pm Mar 29, 2011 1:26pm
Quoting Brunite
Yeah....agree.




Is that Rick James in the background?......Thom Knight?.....Sizzler?......3DogNight? LOL!!

But as you say...no matter the strategy....humans ARE prone to screw things up. We also have limited ability to process everything at once. Thus; we may mess up a solid method at times.


.

Should. What is your R:r at that rate?




I kinda thought he might be someone else....lol!
I am no Rick James even if my hair style says different. Thinking of changing hair gels soon. Kinky curly is not what it used to be. I think the stuff is comin from china these days which would explain a lot. Old gel and new gel.
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  • #7,130
  • Mar 29, 2011 1:31pm Mar 29, 2011 1:31pm
ok had a bit of a headache week, was cruising along making steady pips, then saw a shiny knight with the fibby grail, now my psyche is all screwed up, the charts dont look the same and i havent slept for 2 days...

damn you!!! you know who you are!

p.s Brunite when you gonna get your fu out so we can all have a look, and dont say look back in the thread, i've already read it 3 times
  • #7,131
  • Mar 29, 2011 2:01pm Mar 29, 2011 2:01pm
Quoting darrenlittle
ok had a bit of a headache week, was cruising along making steady pips, then saw a shiny knight with the fibby grail, now my psyche is all screwed up, the charts dont look the same and i havent slept for 2 days...

damn you!!! you know who you are!

p.s Brunite when you gonna get your fu out so we can all have a look, and dont say look back in the thread, i've already read it 3 times
Darren how long you been trading? When psyche gets messed up or you haven't slept, take a break. Come back later refreshed and ready. Its easier they way since trading isn't really anything fun. We didn't grow up as kids saying "someday I want to be a trader", no we started trading so we could have more freedom and financial security. If you are not getting sleep, then you don't have that freedom. I understand its a sacrifice in the beginning.. just saying get some sleep. I wonder if fish oil actually helps the mind. I heard blueberries were a myth.
  • #7,132
  • Mar 29, 2011 2:42pm Mar 29, 2011 2:42pm
just 1 year LB... and i know i'm doing alright really, and im not even having a losing week, just kind of lost focus there and changed my routine, i need to get mechanised again, back to the plan...

that being said i still want to improve on what im doing, increase my r/r and tighten up those entries
  • #7,133
  • Mar 29, 2011 4:49pm Mar 29, 2011 4:49pm
aud usd pair, short to 1.0281 is in the horizon if anyone is interested in 7 pips...lol
  • #7,134
  • Mar 29, 2011 5:00pm Mar 29, 2011 5:00pm
Quoting darrenlittle
just 1 year LB... and i know i'm doing alright really, and im not even having a losing week, just kind of lost focus there and changed my routine, i need to get mechanised again, back to the plan...

that being said i still want to improve on what im doing, increase my r/r and tighten up those entries
For only 1 year i think you have the right mindset which is good! Not to burst bubbles but I think 2-3 years is the mid road crossing point for most. The 95% failures surely include those that give up within this time. Hang in there. Stick with it buddy and things will make more sense in time. Your idea of trading gu and eu only is a good part of the plan. The more you work on just one or two pairs alone you begin to feel its personality if you will.
  • #7,135
  • Mar 29, 2011 6:52pm Mar 29, 2011 6:52pm
Quoting LetterBlack
aud usd pair, short to 1.0281 is in the horizon if anyone is interested in 7 pips...lol
called that pretty accurately
  • #7,136
  • Mar 29, 2011 11:43pm Mar 29, 2011 11:43pm
Quoting darrenlittle
called that pretty accurately
Thanks Darren. Actually with my data it missed by a pip. Its back to the drawing board I guess...lol.
  • #7,137
  • Mar 29, 2011 11:59pm Mar 29, 2011 11:59pm
Quoting darrenlittle
and im not even having a losing week
Thats amazing to hear. Cant wait until I can say the same. Obviously not for me. My eurjpy chart from earlier didn't work out. I'm looking at gu for a short target and 1.5975 is looking pretty good What do you think?
  • #7,138
  • Mar 30, 2011 12:22am Mar 30, 2011 12:22am
usdjpy 82.85 anyone? Its quiet in these parts. Just us 3 amigos, myself darren and brunite. Can't blame anyone for not trading during this time though. Asian or London session traders just starting up them coffee pots.

Brunite, thanks for the earlier post you made. I wasn't aware there was another thread here on fibs. Advanced skunny techniques perhaps? I'll be sure to check it out when i get the time. Thanks guys
  • #7,139
  • Mar 30, 2011 12:40am Mar 30, 2011 12:40am
Quoting LetterBlack
usdjpy 82.85 anyone?
Wow price just blew right through that one...kickin butt and taking names later. Yes I'm trading small on these. No reason to load up just yet. Some say size matters, i say as long as your making money and making progress than so what. A win is a win. And oh that trade was only 7 pips too...lol at myself. Though perhaps someone did load up on that one, throw down a 1000 lots or so and take the summer off for the year. Who knows
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  • #7,140
  • Mar 30, 2011 5:25pm Mar 30, 2011 5:25pm
Quoting darrenlittle

p.s Brunite when you gonna get your fu out so we can all have a look, and dont say look back in the thread, i've already read it 3 times
My fu? Is that cursing? Or just some kind of new Sizzlish talk?
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