Trading Without Charts?

[timsk]

Hi Trey Tzu,
Oh, so much confusion goin' on. Your confused by TF's post and I'm confused as to why you ask a question to which you appear to have an answer. Be that as it may . . .

most charts are free nowadays provided by brokers

By and large, you get what you pay for in life. Quality, realtime streaming data is rarely free, not least because one has to pay exchange fees. I was with eSignal all last year and, although they're excellent IMO, they're anything but free. EoD data is more readily available for free, but again, free tends to mean (and I stress tends) - that there is limited functionality or mountainns of irritating advertising or data quality issues etc.

. . . and its not like everyone who trades has to go buy ten screens.... those who have multiple screens do so perhaps out of personal preference

True, but on average, I'd be happy to bet that most (not all, by any means, just most) of those traders who do use multiple screens - do so to display charts. Does that mean that everyone that uses more than one monitor only does so to display charts? No, of course not, but, as a generalization, it holds true in most cases.
Tim.

 

[Technically Fundamental]

Market Depth

 

[HawkTrader]

Thanks TF. How does this work for the trader though, do some people base whole methods just on the Market Depth?

 

[timsk]

Oh dear TF, you've done it now. Give it half an hour or so and some 15 year old will be on 'ere telling us all how to scalp that for a couple of ticks!

 

[Technically Fundamental]

Thanks TF. How does this work for the trader though, do some people base whole methods just on the Market Depth?

No idea mate. It shows bids bids and offers and actual trades flash up. Helps to gauge immediate supply and demand. I just find it easier than watching a candle flicker up and down tbh but it's the same thing.

Oh dear TF, you've done it now. Give it half an hour or so and some 15 year old will be on 'ere telling us all how to scalp that for a couple of ticks!

I know lol. Just tell him to take drugs again.

 

[timsk]

Thanks TF. How does this work for the trader though, do some people base whole methods just on the Market Depth?

Yes HT, they do. (Some) institutional day traders (specifically scalpers) will work the market depth ladder and not use charts at all. Before someone shouts at me, I suppose I should add that there will be some retail day traders who do the same thing - or a variation thereof, e.g. rathcoole_exile (from earlier in the thread).

 

[HawkTrader]

Oh dear TF, you've done it now. Give it half an hour or so and some 15 year old will be on 'ere telling us all how to scalp that for a couple of ticks!

Not sure if this is directed at me? I was only asking since I've heard it thrown around here and there, yet there is so little written about it. There is more about useless indicators and it doesn't help as I'm studying price action...

 

[timsk]

Not sure if this is directed at me?

No, not you HT. TF as in 'Technically Fundamental'. Btw, that fact that you thought it might apply to you suggests that you're only 15. Are you?

 

[HawkTrader]

Lol sorry Timsk. I thought you were talking to TF about me, since your post was directly after mine. And no, I'm not 15... anymore. :cheesy:

 

[TAjammy]

 

[TAjammy]

Market Depth

lol i just gotta- place a sell limit on 9k sells, place a buy limit on the 6k buys.

Take profits very quick!

 

[Technically Fundamental]

Thats sh!t TA

what you gonna do if the bids get cancelled an the price shoots through poor liquidity?

 

[TAjammy]

cancel the limit, have a stop 2 points/ticks on every limit.

It's far enough away from market to have time to cancel it, if not you always have your stop

 

[cr6196]

isn't the DOM only 5 levels so the number at the top/bottom is the sum of sells/buys...

 

[rathcoole_exile]

floors traders main strategy is just screaming and shouting

are you a complete moron ?

 

[rathcoole_exile]

isn't the DOM only 5 levels so the number at the top/bottom is the sum of sells/buys...

***me cr, let the kiddies have their fun, don't go spoiling it with something sensible

 

[Technically Fundamental]

***me cr, let the kiddies have their fun, don't go spoiling it with something sensible

got the image off google... why are you being such a bell end lately?

 

[bangkokgee]

hi trader

gary mate they are still looking for dot to dot,if this does this and this does this,join up the dots and we will all be in the moneyyou know the score .

 

[TAjammy]

i was just suggesting a scalping technique

 

[rathcoole_exile]

gary mate they are still looking for dot to dot,if this does this and this does this,join up the dots and we will all be in the moneyyou know the score .

khrup phom