Technically Fundamental
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queers
yes you can trade without charts,or scalp if thats what we will call it,and the only thing you can trade is the price,when its moving jump on,get off,when price tells you too.its not easy, there,s nothing as queer as folki was just suggesting a scalping technique
got the image off google... why are you being such a bell end lately?
why would you ever wanna trade without charts
Hi John1 - Charts don't lie, theyn tell the absolute truth - about the past. But the conclusions people draw from them on future price action can be unreliable and the blind faith they put in these, encouraged by system vendors, is dangerous.
By which I mean, faulty TA is no reason not to use charts, its an argument for better TA. Its very possible to trade successfully without charts but doing so because one's TA is poor is not guarantee of success at scalping etc.
I would agree, enough people make decisions based on past price action to warrant it as a factor in future price moves. And i think more importantly, price shows you where people bought and where they sold and you can see where they are vulnerable. A belief i have is that context is one of the most important factors in a move and i think when you see a significant high/low breached and you see the panic, that is confirmed. Maybe when people didn't have access to charts this wouldn't be so, but i think this is the way it is now.
Yeah i agree, my belief is that the technique isn't important. If someone has built up ideas of how the market works or has a system or as you say understands the behavior of the market that i think is more important than any "technique"/"method", or whatever you want to call it. It just so happens that my beliefs present TA as a good technique for me. But again i would say, TA is profitable, which is really meaningless looking at what i have said above.
I don't know anyone who is successful without using TA in some form (i'm not as experienced) but i don't see that as a reliable outlook for what does and doesn't work. I think for every person i know there are hundreds more people making double, using something i think is ridiculous such as astrology or whatever.
how many times have you seen a break-out where many people jump on just in time to see the move reverse and rocket the other way
In my view this depends on which timeframe is being traded relative to the next one up and what the position size is relative to the volatility of the market being traded. I wasn't talking about breakouts but that trends rarely start the very next tick in all timeframes at once.
I don't disagree that charts are not needed but to say that they are useless is not how I see it. In view of you not using charts then how do you decided when and how to take a trade ?
Paul
Many thanks John1 - As a reader, I understand that you believe that past price action has no bearing on the future. Its just that I don't agree with it. It seems very clear to most people that support and resistance, the fundamental demonstrations of the behaviour of market participants - who DO have a memory of price and DO know at what price they entered / exited a given instrument, such that this IS likely to influence their future behaviour towards the instrument - and these being the unseen building blocks of most clear chart patterns - DO have an influence on future price behaviour.
I think your stricture that there needs to be a semblance of certainty is too harsh - whatever method is used to time / place an entry / exit, it can only be based on probability, and talk of certainty is a redf herring. Any tick can be a reversal, or mererly a congestion move preceding continuation, but, to my konowldege, there is no methodology, TA or otherwise that will eliminate this doubt.
I don't dispute that it is possible to trade successfully WITHOUT charts, and I said so very early in this thread. Its just that I cannot accept it is impossible to trade successfully WITH charts.
If the vast majority advocate charts and/or indicators and/or TA and 80-90% lose in the markets, wouldn't this outcome lead a rational person to suspect that something was not right? Aiming to be better than the vast majority at employing an overwhelmingly unsuccessful approach seems to me to be a strange ambition