Look mum no charts! | Forex Factory

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Look mum no charts!

  • #1
  • First Post: Edited Feb 2, 2011 12:34pm Feb 1, 2011 7:39am | Edited Feb 2, 2011 12:34pm
This thread is posting trade calls and/or discussion based on ANYTHING apart from the use of a conventional chart.

So basically anything that you can do without having a chart in front of you to see things like price action, S/R etc

Its a challenge sir. Have a crack
Time hides Nothing
  • #2
  • Feb 1, 2011 8:28am Feb 1, 2011 8:28am
Each time the media/forums/blogs agree on a sure thing trading opportunity, I fade them. Very successful, but very limited number of opportunities. And I don't bet large amounts due to the lack of verifiable statistical significance.

Examples:

1. Text-book example of head&shoulders on S&P 500 in July 2009.
2. Dollar going to the toilet news articles and magazine covers in October 2009.
3. Euro going to the toilet news articles and magazine covers in May 2010.
4. Hindenburg Omen on S&P 500 in August 2010.

Note: the timings are from memory. They might be one-month off to either side.

I once even faded FF. I wanted to short EUR/USD after Greece was saved the third time (or was it fourth?) - selling the news. EUR/USD gapped up 80 points on opening after the weekend and I asked in the Domino Order Flow thread what they thought about the "price action". They were bullish and I received my confirmation to go short
  • #3
  • Edited 8:47am Feb 1, 2011 8:30am | Edited 8:47am
haha that's the sort of out of the box thinking I was looking for...

I have recently developed an excel spreadsheet that works purely off quote data that basically signals trades in real time. Its a project under development so I wont say anymore.
Time hides Nothing
  • #4
  • Feb 1, 2011 8:48am Feb 1, 2011 8:48am
Here's another idea which actually inspired this thread courtesy of nasir.kahn

http://www.forexfactory.com/showpost...&postcount=481
Time hides Nothing
  • #5
  • Feb 1, 2011 9:00am Feb 1, 2011 9:00am
I want to make a proposition in the spirit of adal's recommendations.

Lets fade Sarkozy speech targeting 1.3250 and then further up 1.3

Timing our entry is crucial, waiting for NY close to see where we stand for the day is wise to do, otherwise I may listen to Sarkozy

waiting for opinions
"Sarkozy says bets against euro will lose money"


"Investors who bet against the euro will get their fingers burnt because France and Germany are utterly determined to defend the currency, French President Nicolas Sarkozy said on Thursday "

http://uk.reuters.com/article/2011/0...oreignExchange

all the best!
  • #6
  • Feb 1, 2011 9:27am Feb 1, 2011 9:27am
Quoting CindyXXXX
The main purpose of this thread (which I don't expect to last long) is posting trade calls and/or discussion based on ANYTHING apart from the use of a conventional chart.

So basically anything that you can do without having a chart in front of you to see things like price action, S/R etc

Its a challenge sir. Have a crack

This sort of reminds me of a bloke on myfxbook and how he trades. Here's a quote from his thread:

well, something very simple.

just use very small lot, and a good fund management. DONT THINK ABOUT THE MARKET, that's my thought.

i can't sit and watch the chart screen all the time. so most of the trade will be set by orders.

sometimes i trade on my nokia mobile. i just trade on number itself, not the chart.

it goes up, then i'll buy it. it goes down, then i'll sell it. if it stands still, then i'll wait. simple, right?


Seems to work for him.

Attached Image (click to enlarge)
Click to Enlarge Name: joiny.png Size: 48 KB


http://www.myfxbook.com/community/tr...joiny45/7375,1


Hopefully he doesn't mind me posting this.

.
Nothing worth having is easy.
  • #7
  • Feb 1, 2011 10:32am Feb 1, 2011 10:32am
I remember a funny thread here about a guy who had this "amazing strategy"

He would invite his friend who was new to FOREX to his house to trade and then when his friend clicked "sell" he would sit behind him on his own platform and click "buy"

It was just made up of course but piss funny all the same.
Time hides Nothing
  • #8
  • Feb 1, 2011 10:53am Feb 1, 2011 10:53am
Quoting Patience
This sort of reminds me of a bloke on myfxbook and how he trades....
If you look @ the whole history, you'll get this
Attached Image (click to enlarge)
Click to Enlarge Name: curve.JPG Size: 30 KB
Never whishing, always trading.
  • #9
  • Feb 1, 2011 11:06am Feb 1, 2011 11:06am
Quoting Hova
If you look @ the whole history, you'll get this
Whooooopppps! Okay. But he may have started the strategy he discusses in his thread in April 2009. It takes all of us time to get acquainted with the market and find a trading style that suits. So, since April 2009 his account has been on an upward trajectory.
Nothing worth having is easy.
  • #10
  • Feb 1, 2011 11:13am Feb 1, 2011 11:13am
Quoting Patience
Whooooopppps! Okay. But he may have started the strategy he discusses in his thread in April 2009. It takes all of us time to get acquainted with the market and find a trading style that suits. So, since April 2009 his account has been on an upward trajectory.
Well, i agree, but i've seen too many myfxbook accounts doing good, until the big hit, then they vanished.

We'll see...doing it good for 2 years is nice, but why is he fading it from public ? No word about this in his thread at myfxbook
Never whishing, always trading.
  • #11
  • Feb 1, 2011 11:14am Feb 1, 2011 11:14am
And who verifies the verifiers?

There is barely a blip or two on that rocket ride to the moon.
  • #12
  • Feb 1, 2011 11:21am Feb 1, 2011 11:21am
Ok so we cant verify it.... whatever - the idea that Patience posted is the important part. Who cares about this individuals success its not the title of the thread...

Keep it on topic and we wont have any problems

I'll John Macanroe your ass I swear Don't make me do it
Time hides Nothing
  • #13
  • Feb 1, 2011 11:52am Feb 1, 2011 11:52am
Quoting CindyXXXX
Here's another idea which actually inspired this thread courtesy of nasir.kahn

http://www.forexfactory.com/showpost...&postcount=481
WTF........... i inspired a thread? lol

Monday- just after london close,

So RBA is going to keep the rate down towmorrow and china will most likely increase rates on Feb-03.

Sell AU, no brainer.

I sold it and got some losses but i still do think chinese rate hike will take it down.
.
  • #14
  • Feb 1, 2011 11:58am Feb 1, 2011 11:58am
Another one,

GU, EU and Stocks are goin through the roof what a fool would sell it now.

Can anyone consider chances for an unexpectedly ugly NFP number triggering massive risk aversion thus a sell-off in above mentioned????
.
  • #15
  • Feb 1, 2011 1:10pm Feb 1, 2011 1:10pm
Quoting Patience
This sort of reminds me of a bloke on myfxbook and how he trades. Here's a quote from his thread:....
This is from one of my favorite books on trading, The Adam Theory Of Markets or What Matters Is Profits, by Welles Wilder.

" One of the greatest professional traders I ever met we'll call Robert. Robert would take very large sums of money out of the markets week-in and week-out. When I was a green trader starting out in Chicago I had the good fortune to be able to trade next to him for awhile. We were 'upstairs' traders; we traded from an office in the building next to the Chicago Board of Trade. And one morning, about a week after I'd started, I came into the office early and Robert was there alone. We were trading the S&P 500 at the time, and naturally I took the opportunity of asking his opinion of what the market would do that day. His answer truly startled me.

" I don't know," Robert said.

"You'd prefer not to tell me." I said.

"No," Robert said. " I'm telling you the truth. I really don't have any idea what it's going to do."

Now at this point I'm affraid I looked at him with a kind of blank stare, because I simply couldn't comprehend what he was saying.

"Robert", I finally said, "You're obviously one of the most successful traders around. You really don't have any idea what the market is going to do today?"

"Honestly."

"Well then....well then....what do you trade on?"

"You wouldn't believe me if I told you," Robert said. "You really wouldn't".

"You're probably right. But try me".

Robert looked at me. "Okay," he said. "Here goes. If the market goes up, I buy some. If it goes up some more, I buy some more. If it goes up some more, I buy some more. If it goes down, I sell some. If it goes down some more, I sell some more. If it goes down some more, I sell some more".

Does that sound silly? Absurd? Too simple?

I didn't realize it at the time (being basically a pretty thick-headed kind of guy), but Robert had told me that moring something that penetrated to the essence of successful trading. Something that I later saw in every other successful trader. And that was this:

They never, ever let any opinoins about the market get in the way of trading".

Personally, I can't trade like this, but I do think there is an undelying truth in here. I truly believe that there are some successful traders simply doing this.
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #16
  • Feb 1, 2011 1:25pm Feb 1, 2011 1:25pm
Quoting CindyXXXX
I remember a funny thread here about a guy who had this "amazing strategy"

He would invite his friend who was new to FOREX to his house to trade and then when his friend clicked "sell" he would sit behind him on his own platform and click "buy"

It was just made up of course but piss funny all the same.
wow! this is something great! i'll give it a try...
  • #17
  • Feb 1, 2011 1:31pm Feb 1, 2011 1:31pm
Quoting CindyXXXX
Ok so we cant verify it.... whatever - the idea that Patience posted is the important part. Who cares about this individuals success its not the title of the thread...

Keep it on topic and we wont have any problems

I'll John Macanroe your ass I swear Don't make me do it
Wowza!
  • #18
  • Feb 1, 2011 2:10pm Feb 1, 2011 2:10pm
Quoting HiddenGap
This is from one of my favorite books on trading, The Adam Theory Of Markets or What Matters Is Profits, by Welles Wilder.

[color=blue]" One of the greatest professional traders I ever met we'll call Robert. Robert would take very large sums of money out of the markets week-in and week-out. When I was a green trader starting out in Chicago I had the good fortune to be able to trade next to him for awhile. We were 'upstairs' traders; we traded from an office in the building next to the Chicago Board of Trade. And one morning, about a week...
Maybe he was just jerking his chain cause he didn't want to let his strategy out of the bag.

Interesting though
Time hides Nothing
  • #19
  • Feb 1, 2011 2:42pm Feb 1, 2011 2:42pm
Just something I find interesting. Goldman said on the 13th of January that they were long the EU to 1.37, in a follow up article on Reuters they reported closing the long and waiting on the sidelines, but names targets of 1.4, 1.45, and 1.5 within a year. I'll be watching it for sure.
  • #20
  • Feb 1, 2011 3:04pm Feb 1, 2011 3:04pm
Quoting HiddenGap
This is from one of my favorite books on trading, The Adam Theory Of Markets or What Matters Is Profits, by Welles Wilder.

[color=blue]" One of the greatest professional traders I ever met we'll call Robert. Robert would take very large sums of money out of the markets week-in and week-out. When I was a green trader starting out in Chicago I had the good fortune to be able to trade next to him for awhile. We were 'upstairs' traders; we traded from an office in the building next to the Chicago Board of Trade. And one morning, about a...
Great post. Very educational, and ofc Robert ruled

One could say Robert was skeptic to the core, taking nothing for granted, and trading only what he saw. What made him a great trader was the simple fact that he was the first to acknowledge knowing nothing about trading. However, the text gives us clear indications that Robert did in fact knew something about trading. He was able to recognize high probability setups, he waited for these setups, he only bought/sold some each time, etc. Overall, it's clear that Robert knew risk control, and had patience + discipline. These are all attributes successful traders share in common.
"To hold, you must first open your hand. Let go." - Lao Tzu
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