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making things simple

  • #1
  • First Post: Jun 6, 2011 12:28am Jun 6, 2011 12:28am
i have question for all traders here.

suppose, you dont have access to a computer, or you are blind, and cant see charts. however your livelihood depends on you, trading.

what information, would you rely on to trade on?

remember, you are unable to see a chart, i am looking for INFORMATION, that some one can call out to you, in oder to make your trading decisions?
AVT INVENIAM VIAM AVT FACIAM
  • #2
  • Jun 6, 2011 12:38am Jun 6, 2011 12:38am
Quoting the redlion
i have question for all traders here.

suppose, you dont have access to a computer, or you are blind, and cant see charts. however your livelihood depends on you, trading.

what information, would you rely on to trade on?

remember, you are unable to see a chart, i am looking for INFORMATION, that some one can call out to you, in oder to make your trading decisions?

I would buy a chart reading software that translates the O-H-L-C in audible format based on the timeframe I often trade and also learn to create or develop the pictures using my minds eye (just the way blind artists who draws and paint pictures does) with extreme accuracy before executing a trade.

hope I'm a little close!
Perfect Trading Core completed on 13/10/2012 : 2002-2012 |10yrs
  • #3
  • Jun 6, 2011 12:40am Jun 6, 2011 12:40am
Price change.
Create an computer interface for audio or tactile feedback.
If it's possible.
I'm not a computer wiz, but I would think it could be done.
  • #4
  • Jun 6, 2011 12:43am Jun 6, 2011 12:43am
Quoting 1stECN
I would buy a chart reading software that translates the O-H-L-C in audible format based on the timeframe I often trade and also learn to create or develop the pictures using my minds eye (just the way blind artists who draws and paint pictures does) with extreme accuracy before executing a trade.

hope I'm a little close!
like I said on my initial post. if that kind of software doesn't exist, then I will develop it, or employ programmers to do it.
Perfect Trading Core completed on 13/10/2012 : 2002-2012 |10yrs
  • #5
  • Jun 6, 2011 12:46am Jun 6, 2011 12:46am
there is no right or wrong answer, i am curious to know what type of information is actually useful and what type of information, we clutter our minds with by looking at our colorful charts.

i would like to know the closing price for the last 10 days and the closing price for the 1st of the month. (since i am blind and cannot write things down, a quick read for direction i suppose might help)

highs and lows for the past 5 days, to have a feel for the average range.
current days open, and the price right now.
AVT INVENIAM VIAM AVT FACIAM
  • #6
  • Jun 6, 2011 3:10am Jun 6, 2011 3:10am
that is it? every trader here needs a computer?

trading has been around for centuries, think if u had no access to charts or computers, you wouldnt be able to trade?
AVT INVENIAM VIAM AVT FACIAM
  • #7
  • Jun 6, 2011 3:12am Jun 6, 2011 3:12am
trading has been around for centuries... but you assume it's all for profit and not just to....

...

..

trade.
Congratulations ScalaFX for coming out of the closet!
  • #8
  • Jun 6, 2011 4:09am Jun 6, 2011 4:09am
I think you are pointing to fundamentals. If you are blind and can't access a computer, I would just get myself a TV or radio to listen to the current developments in the world and bet on that. However, a major flaw here is that one then can't see how the market reacted to the fundies. At one point you need some kind of price information.
  • #9
  • Jun 6, 2011 4:11am Jun 6, 2011 4:11am
Quoting Custos
I think you are pointing to fundamentals. If you are blind and can't access a computer, I would just get myself a TV or radio to listen to the current developments in the world and bet on that. However, a major flaw here is that one then can't see how the market reacted to the fundies. At one point you need some kind of price information.
yes, so how would you use technical analysis without reading a chart,
(im curious)

what price information would be important to you?

like i said there is no right or wrong answer,i am curious, how would traders here trade with out charts, computers, and being blind.

u said fundamentals and price information, great point, but what price information can some one call out to you and you would be able to trade off of? how would traders here cope with this situation
AVT INVENIAM VIAM AVT FACIAM
  • #10
  • Jun 6, 2011 4:22am Jun 6, 2011 4:22am
Quoting the redlion
yes, so how would you use technical analysis without reading a chart,
(im curious)

what price information would be important to you?

like i said there is no right or wrong answer,i am curious, how would traders here trade with out charts, computers, and being blind.

u said fundamentals and price information, great point, but what price information can some one call out to you and you would be able to trade off of? how would traders here cope with this situation
well, I would call my broker to ask what the price of a currency pair is today and if in the last few weeks it was retracing or advancing.
  • #11
  • Edited 2:25pm Jun 7, 2011 2:08pm | Edited 2:25pm
I think charts provide a large amount of information in an optimal format,
with that said your basically asking to trade using less information IMHO.. or atleast in a less optimal way..
I'm too used to having all that extra information at the glimmer of my eye but...


A chart is just a tool... we as humans are tool makers.. we are different then the rest of the animal kingdom due to our intelligence...
So what I would do is build a tool... ask for the information and build a grail version of a chart...

your title is "making things simple"
well a chart makes things simple.. if I can't see one I will make one I can feel


ask me "what if you can't feel and I'll try to make another tool so I can make information simple to digest



this was a good brain teaser.. thank you!
NY
  • #12
  • Jun 7, 2011 2:22pm Jun 7, 2011 2:22pm
A trader in a documentary made quite a good analogy. He said nowadays trading is like watching only the score-board at a football game without seeing the game itself. The game for him was the pit, where he could see the actual "action" of market participants, but since that died out, he was just being able to see the score-board.
Actually following that analogy, it is amazing how difficult that game is, you are trying to play "football" against people you don't see and have to somehow outsmart them. You only have indications when they might do something, be it technical or fundamental.
Maybe the order book would give us the advantage of seeing again what market participants are up to, but since that doesn't exist for the forex market, it's rather difficult to do. The best is to find reasons why others would jump in or out of the market and then just go with that indication.
  • #13
  • Edited 3:24pm Jun 7, 2011 3:10pm | Edited 3:24pm
Has price crossed above the 35 SMA? Go long and hold till price closes below 35 SMA then close and reverse position.............. Check this at the close daily.
  • #14
  • Edited 4:26pm Jun 7, 2011 4:14pm | Edited 4:26pm
Quoting tradestar1
Has price crossed above the 35 SMA? Go long and hold till price closes below 35 SMA then close and reverse position.............. Check this at the close daily.
So, since trading is so easy, I just coded your suggestion with position size 3% of the whole account per trade and as an attachment you find the equity curves.

Seems like only a temporary edge at best. Looks good for the eur/usd from around 2008, but before it was just calling random trades. And if you look at the other two equity curves (gbpusd & usdchf), it is just dropping to the bottom. Trading randomly would do better.

By the way, ignore the equity scale (this is just for proper calculation purposes)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSD Equity Curve.png Size: 144 KB
Click to Enlarge Name: GBPUSD Equity Curve.png Size: 175 KB
Click to Enlarge Name: USDCHF Equity Curve.png Size: 128 KB
  • #15
  • Jun 7, 2011 6:38pm Jun 7, 2011 6:38pm
The only pair I trade is the EUR/USD...
As to your "coding"........ me thinks you need to work on that a bit.
  • #16
  • Jun 7, 2011 6:57pm Jun 7, 2011 6:57pm
Incredibly, something like that can be, and is being, done. On a top-tier trading floor, of all places.

http://dealbook.nytimes.com/2010/12/...and-blindness/
  • #17
  • Jun 7, 2011 7:11pm Jun 7, 2011 7:11pm
You would only need to be told the open and close. From that you can figure out the rest.
  • #18
  • Jun 8, 2011 12:33am Jun 8, 2011 12:33am
Quoting tradestar1
The only pair I trade is the EUR/USD...
As to your "coding"........ me thinks you need to work on that a bit.
haha, whatever man. I know that I coded it exactly according to your requirements, but anyways it's your money, not mine.
  • #19
  • Last Post: Jun 8, 2011 1:12am Jun 8, 2011 1:12am
Pick up the phone and tell your broker to buy and sell three lots of eur/usd @ market price.Set the same stoploss,take profit and trailing stop for both orders.Wait till both orders are stopped out and repeat.Make sure the trailing stop is larger than the stop loss.
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