Stop Loss is the key. — In my opinion a great factor in Forex profitability is a system which does not utilise a standard stop loss which puts you out after it is hit. If a stop loss hit then triggers a justified trade opening in the same ...

The Reason why 95% Traders fail

System/Method Risk. — One thing to be wary of though is a ranging pair that whipsaws between the 0/100 trigger and the 23.6/78.6 Fib. It happens very rarely, but it can happen. Usually lower volumes are the cause. It eventually brakes the ...

Indicator Free Trading - Skunny

Lots of good questions. — Hi Underdog, I never wait for the candle to close above or below any Fib lines to trigger a trade. Why ? Because like most that trade Support resistance if the line is breached (broken by price) then that is your ...

Indicator Free Trading - Skunny

UC - USDCHF — Apologies Misterdaz - UC is for Loonie USDCHF. As it turns out I was stopped out of first trade for -15 pips, then took gains on reverse trade for +17 and +25 respectively.

Indicator Free Trading - Skunny

Stopl Loss to small and irrelevant. — Misterdaz, a 12 stop loss when the pair had a 17 ATR is as good as asking to be knocked out of the trade. If you notice in the earlier post I posted for Eu, the Reverse trade would have been triggered when ...

Indicator Free Trading - Skunny

Correctly placed Fib. — Plotting the high/Low of a single candle in the Daily or higher timeframes ensures that you have pinpointed significant SR levels for the Fib on lower timeframes. As Skunny stated plot the Fib to one candles High Low ...

Indicator Free Trading - Skunny

You're welcome Skong. — Only too happy to give back something to this FF which has helped me so much.

Indicator Free Trading - Skunny

Nice Chart Misterdaz — Now try the same setups on EJ GJ and UJ. Also UC now triggered. How many completed trades ? How many Pips ?

Indicator Free Trading - Skunny

SKUNNY "What I asked you to do with the weekly chart is use 1 candle and fib it. Then I asked you to observe what followed. I did this not as a trading strategy, but to help you study S/R as it relates to theses fibs. Weekly candles are most ...

Indicator Free Trading - Skunny

Reversal trade — PS If it reverses through the 78.6 @ 1.4743 Then the 50 becomes the target @ 1.4721. All bases covered.

Indicator Free Trading - Skunny

Perfect Example. — EU just broke yesterdays high. Will it reach the 138 Fib at 1.4788.... Lets see ?

Indicator Free Trading - Skunny

Seems the starting point is throwing you. Bring up any daily chart. Place the fib down one completed (not current) candle. If the candles high or low is breached (broken) then you have a trigger. Now go to hourly chart - what do you see ? The daily ...

Indicator Free Trading - Skunny

Kiss Principle. — Guys, I have been trading this system for over 12 months now very succesfully : 1. Never on anything under 1 HR timeframe - too much noise and stop hunting. Although you can do it if you are prepared too nurse your SL and ...

Indicator Free Trading - Skunny

Just this once. — Ok. Firstly plot your Fib across one candle only (refer to Skunnys Posts) on a daily chart. Now if you move to hourly chart your fibs are there. Now see how the price failed to reach your target. However upon reversal through ...

Indicator Free Trading - Skunny

Retracements — Look closer to home than the -138.2. In this instance the reversal went from the -123.6 fib to which level ? Now look back and see when this happens, where it ends up each time.

Indicator Free Trading - Skunny

Trade reversal. — Not all trades go to plan, but you should note that Skunny said observe what happens when the 138 Fib is not reached ... ? So when it reverses, what levels are usually hit ?

Indicator Free Trading - Skunny

Support broken. — IMO next stop 0.8904, if it doesn't hold we are down to 0.8590.

AUD/USD

Global Parity. — Eduardo, I think your view on Global interest rates is correct to a degree. But one should note that this is only a piece of the total currency movement. There are many other factors that major banks consider as well. Many of ...

The Really Really Boring Forex System

Upto 1.6660 area then retrace but still in an uptrend to 1.6937 area.

Cable Update (GBPUSD)

AUDUSD - Strong uptrend — I have longer term targets on this pair for 0.9105. Fundamentals in Australia are extremely strong with one of the highest interest rates in the world and a strong economy with low unemployment. In my opinion any ...

AUD/USD