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Trading Without Charts?

  • #1
  • First Post: Aug 28, 2009 9:55pm Aug 28, 2009 9:55pm
Hello all,

Can anyone tell me of some ideas to trade the markets without using charts? I alredy don't use indicators, but now I want to eliminate charts, too. ANd trade on order flow, what's happening NOW (not what has already happened), etc.


Darkstar and Wasp seem to be very knowledgable. If they;re out there would love to hear what they have to say.
  • #2
  • Aug 29, 2009 12:08am Aug 29, 2009 12:08am
Quoting ajt1970
Hello all,

Can anyone tell me of some ideas to trade the markets without using charts? I alredy don't use indicators, but now I want to eliminate charts, too. ANd trade on order flow, what's happening NOW (not what has already happened), etc.


Darkstar and Wasp seem to be very knowledgable. If they;re out there would love to hear what they have to say.
Jhig, as well, trades only E/G based on pivot points and says he does not use charts. Maybe he will tell us how he does it...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #3
  • Aug 29, 2009 5:31am Aug 29, 2009 5:31am
Quoting ajt1970
Hello all,

Can anyone tell me of some ideas to trade the markets without using charts? I alredy don't use indicators, but now I want to eliminate charts, too. ANd trade on order flow, what's happening NOW (not what has already happened), etc.


Darkstar and Wasp seem to be very knowledgable. If they;re out there would love to hear what they have to say.
Wasp won't be back but he does use charts, however he interprets them in a different way to the majority.

It's a noble thing to try and i understand your reasoning, but why handicap yourself? The open, close, high and low can tell you an awful lot about the value and more importantly, 'percieved' value of your chosen pair, and a candle or bar displays that information in an instant.

Just because the majority misuse a chart doesn't make the chart wrong.

Try to think a little differently.

Good luck whichever way you go.

Dan
  • #4
  • Aug 29, 2009 6:01am Aug 29, 2009 6:01am
Just need to know what high and low of the hour for example GMT+0 or the hour just before London opens, then place orders buy and sell based on them and set a predefined TP and SL and forget, that's all what I known so far for your need. Hope this help
  • #5
  • Mar 31, 2013 7:04am Mar 31, 2013 7:04am
Hi,

sorry for reviving an old thread but I cannot start new threads and the topic happens to be exactly what I would like to discuss.

In order not to be deceived by price action (and to avoid choosing the wrong level of anticipation of what will happen next -> in the sense of Keynes' beauty contest) I trade without charts.

Instead I use "orderboard" related information from public fx blogs (reported rumours among professional traders about clusters of limit and stop orders close to current price levels) to enter my limit orders once per day as they are published around London Open (I place my sell limits a couple of pips below the reported sell limit order clusters, the buy limits a couple of pips above the reported buy limit order clusters). Limit orders not hit during the (European) day and open trades are deleted when liquidity dries up (usually during the Asian session).

TP of the sells is the highest reported buy limit level, TP of the buys the lowest reported sell limit level. SL for sells is a couple of pips above the highest reported sell limit order, SL of buys is a couple of pips below the lowest reported buy limit order.

Anyone else trading like this & eager to discuss/refine this approach?

Cheers
Chriz
  • #6
  • Mar 31, 2013 10:58am Mar 31, 2013 10:58am
hi
my name is samer
i have opened a thread called simple strategy
check it
it is good for traders who does not want to use indicatores, only price and pairs...
no indicatores at all
only price hedging between pairs using swap value

try to visit and enjoy
GUYS BE AWARE FROM HUNTING YOUR STOP LOSSES BY YOUR BROKER & BY "GHOSTS"
  • #7
  • Apr 5, 2013 9:33am Apr 5, 2013 9:33am
Quoting ajt1970
Hello all, Can anyone tell me of some ideas to trade the markets without using charts? I alredy don't use indicators, but now I want to eliminate charts, too. ANd trade on order flow, what's happening NOW (not what has already happened), etc. Darkstar and Wasp seem to be very knowledgable. If they;re out there would love to hear what they have to say.
Dear after much consideration and trading failures i came up with a great strategy, and surely you dont need any charts.
Trust me i am from the 95% bunch who always loose, so if you are interested i will place my trades on your thread, all you have to do trade against my entry and exits , thats all and you will join the 5%.
  • #9
  • Apr 5, 2013 10:18am Apr 5, 2013 10:18am
Quoting ajt1970
Can anyone tell me of some ideas to trade the markets without using charts?
Yes, Trading the Non-Farm Employment, Unemployment Rate, Trade Balance, Unemployment Claims, Retail Sales and other news.

OwnFx
  • #10
  • Apr 7, 2013 12:06pm Apr 7, 2013 12:06pm
Quoting ajt1970
Hello all, Can anyone tell me of some ideas to trade the markets without using charts? I alredy don't use indicators, but now I want to eliminate charts, too. ANd trade on order flow, what's happening NOW (not what has already happened), etc. Darkstar and Wasp seem to be very knowledgable. If they;re out there would love to hear what they have to say.
I highly not recommend that. Trading, I would assume meaning short term, without charts is like driving without a map. Warren Buffett does not trade with charts nor does he even look at stock quote, but then again he is an investor not a trader.
Trade what you see, not what you think!
  • #11
  • Apr 8, 2013 5:06am Apr 8, 2013 5:06am
If I were you trading on news would be the first thought here. It's pretty simple. However, currencies don't always response the news, and it's hard to predict the new prices. But that's a possible thing I suppose.
  • #12
  • Apr 11, 2013 9:03am Apr 11, 2013 9:03am
I think this method of trading is more suitable to trade stocks than currencies but still you need to know your stock and has a background of its price history
Trading is simple , Humans are complicated
  • #13
  • Apr 14, 2013 9:37am Apr 14, 2013 9:37am
The only thing which comes to mind to me when people say they trade without looking at a chart is via currency strength. Even still, you're still looking at some form of chart.
  • #14
  • Apr 14, 2013 9:54am Apr 14, 2013 9:54am
Why trade with out a chart when the chart tells you all you need to know. Seems a bit silly. Do you think Gokdman etc trade with out charts?
  • #15
  • Apr 14, 2013 10:19am Apr 14, 2013 10:19am
Quoting C345
Why trade with out a chart when the chart tells you all you need to know. Seems a bit silly. Do you think Gokdman etc trade with out charts?
I agree in a lot of sense, i have never known a professional trader whom makes consistent profit from the markets trade without looking at charts. First time for everything i suppose but again i don't personally see the point.
  • #16
  • Nov 28, 2015 12:36am Nov 28, 2015 12:36am
It is quite possible to trade without looking at charts.
I use charts to place orders and that's about it.
You are on the right track ajt1970.
Keep digging deeper my friend.
There is a light at the end of the tunnel.
below is what my trading screen looks like... and that's all I need to see.
Attached Image (click to enlarge)
Click to Enlarge Name: 0ybcukB.png Size: 107 KB
"Is that a real ROLEX? Yes! Same, same but different!"
  • #17
  • Nov 28, 2015 7:17am Nov 28, 2015 7:17am
Quoting firesword
It is quite possible to trade without looking at charts. I use charts to place orders and that's about it. You are on the right track ajt1970. Keep digging deeper my friend. There is a light at the end of the tunnel. below is what my trading screen looks like... and that's all I need to see. {image}

so how you trade?
are you using forex correlation to trade it?
without looking to the chart, how are you to set your TP and SL?
  • #18
  • Nov 28, 2015 7:52am Nov 28, 2015 7:52am
How is that even possible?

Charts giving the where is the demand and supply.If you don't look at chart,how do you know that?

If anyone having any ideas about it, can share it.Please.
  • #19
  • Nov 28, 2015 8:36am Nov 28, 2015 8:36am
Once Wap told in his thread he has a friend, make ton of money, because she didnt know how to use chart. That is called Fundamental Analysis. But, u will have to acknowledge your self about any fundamental that might take influence, what fed will action, how is world economic health of each currency to measure country economy strength, world event could take influence, etc.

Dont forget money management too.
But still we need have chart to see the best price or u maybe able to recognize price very well.

As for short term trading, sure we need and being bless that we have chart right now in modern retail trading.

So, ask yourself, are u a fundamental or technical analysator?

Hope that help.
  • #20
  • Nov 28, 2015 1:19pm Nov 28, 2015 1:19pm
The charts are just another tool.....may be useful for some people in some circumstances, but in general they are not necessary, and only create more noise, confusion and distraction.
I personally stopped using charts years ago, and never looked back.
In my opinion, classical technical analysis is very inconsistent and inefficient way to look at the market.
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