Trading Without Charts?

ajt1970 · Aug 29, 2009

Anyone with ideas on how to do this? I already don't use indicators. Now I would like to get rid of the charts and trade just on order flow, time of day, or anything else.....any good ideas?

virtuos0 · Aug 30, 2009

Why not also trade with a blindfold, ear muffs and a soft-toy stuffed in your mouth?

It is possible to take things too far.

shadowninja · Aug 31, 2009

virtuos0 said:
Why not also trade with a blindfold, ear muffs and a soft-toy stuffed in your mouth?

It is possible to take things too far.

That's quite kinky, isn't it?

Ambrose Ackroyd · Aug 31, 2009

Trading without charts could also be performed to music, most notably..."Flying without wings".

Black Swan · Aug 31, 2009

shadowninja said:
That's quite kinky, isn't it?

not if you're an MP locked in a cupboard hanging from the coat rail...or David Carradine RIP...
I've often thought, as an experiment, if you could trade from just the MACD and stoch...can't be ar5ed trying it but....

tomorton · Aug 31, 2009

ajt1970 said:
Anyone with ideas on how to do this? I already don't use indicators. Now I would like to get rid of the charts and trade just on order flow, time of day, or anything else.....any good ideas?

I think that's how true scalpers do it, i.e. scalping the bid/offer spread, effectively by just tape-reading. A chart would not be needed for this, there would be no time for TA anyway. I don't think this will be easy.

timsk · Aug 31, 2009

I agree with Tom.
As far as I'm aware, there are broadly only two categories of market speculators that don't want or need charts:
1. Scalpers who use the DoM price ladder, level II and T&S.
2. LTBH fundamental investors.
If you don't fit into one or other of those two camps then, likely as not, charts are going to feature in your decision making process at some point or other.
Tim.

tenbobtrader · Aug 31, 2009

ajt1970 said:
Anyone with ideas on how to do this? I already don't use indicators. Now I would like to get rid of the charts and trade just on order flow, time of day, or anything else.....any good ideas?

Hi

you do not require charts to trade effectively (in profit) imvho and experience

you asked

but ~

do not let anyone else influence you regards your own ideas

explore the idea yourself would be my advice

latter

Andy

rathcoole_exile · Aug 31, 2009

timsk said:
I agree with Tom.
As far as I'm aware, there are broadly only two categories of market speculators that don't want or need charts:
1. Scalpers who use the DoM price ladder, level II and T&S.
2. LTBH fundamental investors.
If you don't fit into one or other of those two camps then, likely as not, charts are going to feature in your decision making process at some point or other.
Tim.

wrong wrong wrong wrong

rathcoole_exile · Aug 31, 2009

virtuos0 said:
Why not also trade with a blindfold, ear muffs and a soft-toy stuffed in your mouth?

It is possible to take things too far.

sooooooooooooo wrong

rathcoole_exile · Aug 31, 2009

Ambrose Ackroyd said:
Trading without charts could also be performed to music, most notably..."Flying without wings".

so wrong it's almost comical

rathcoole_exile · Aug 31, 2009

tomorton said:
I think that's how true scalpers do it, i.e. scalping the bid/offer spread, effectively by just tape-reading. A chart would not be needed for this, there would be no time for TA anyway. I don't think this will be easy.

wrong Tom, very easy

rathcoole_exile · Aug 31, 2009

ajt1970 said:
Anyone with ideas on how to do this? I already don't use indicators. Now I would like to get rid of the charts and trade just on order flow, time of day, or anything else.....any good ideas?

yes

timsk · Aug 31, 2009

Hi r_e,
I can't speak for the others who are 'wrong', but I for one am happy to stand corrected. After all, I did say 'as far as I'm aware'. But, four 'wrongs' of varying intensity and one 'right' isn't quite the helpful and insightful advice that one might hope for from a 'T2W Advisor'. A tad more detail would be most welcome, please!

Tim.

rathcoole_exile · Aug 31, 2009

i already resigned several weeks ago

timsk · Aug 31, 2009

Even so, reasons why those of us are wrong would be helpful, otherwise I can't see much point in your posts.

rathcoole_exile · Aug 31, 2009

pick a price (at random if you don't believe in PPs)
decide what you're going to do when price hits that price
set in advance your Stop or Limit entries on the DOM
pre-set Targets, SL, movement of SL etc
go to pub

rinse & repeat....and not a chart in sight .......

and yes, this IS what I do every day ......

timsk · Aug 31, 2009

rathcoole_exile said:
pick a price (at random if you don't believe in PPs)
decide what you're going to do when price hits that price
set in advance your Stop or Limit entries on the DOM
pre-set Targets, SL, movement of SL etc
go to pub

rinse & repeat....and not a chart in sight .......

Okay, I'll edit my original post (in blue) to take account of your approach.

I agree with Tom.
As far as I'm aware, there are broadly only three categories of market speculators that don't want or need charts:
1. Scalpers who use the DoM price ladder, level II and T&S.
2. LTBH fundamental investors.
3. Those that trade like r_e (quoted)
If you don't fit into one or other of those three camps then, likely as not, charts are going to feature in your decision making process at some point or other.

Now, broadly speaking, does this meet with your approval?
:cheesy:
Tim.

shatztrader · Aug 31, 2009

rathcoole_exile said:
pick a price (at random if you don't believe in PPs)
decide what you're going to do when price hits that price
set in advance your Stop or Limit entries on the DOM
pre-set Targets, SL, movement of SL etc
go to pub

rinse & repeat....and not a chart in sight .......

and yes, this IS what I do every day ......

I do remember in one of your posts you mentioning: Half od the time I do not even look at the charts. What about the remaining half an hour then?

best wishes

Black Swan · Aug 31, 2009

timsk said:
Hi r_e,
I can't speak for the others who are 'wrong', but I for one am happy to stand corrected. After all, I did say 'as far as I'm aware'. But, four 'wrongs' of varying intensity and one 'right' isn't quite the helpful and insightful advice that one might hope for from a 'T2W Advisor'. A tad more detail would be most welcome, please!

Tim.

Tim, RE scalps like a mohican on X/bolivian marching powder, who's just grown a pair of bollox...scalping is his thing...

Trading Without Charts?

ajt1970

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