Who trades without a chart?

Hi, I so curious. is there someone here who trade without chart? if yes, I would love to hear.

thanks

not me sir.. maybe the guys after me..

btw.. dibawah saya mahoooo..

Hi cak :-)

There is a growing prevalence in the use of alternative ways to visualise price data using dashboards and other methods which is a great idea as these different techniques can yield different useful interpretations. For example alphaomega's visual method works across multiple timeframes and brings a different way to visualise and interpret data. I have also seen this form of representation for a number of different methods on other trading forums and feel that this method also may have great application for those trading using Fundamental Analysis.

ohhh, thanks
I love to learn

aaawwwww

Yes ... my mother's cat does (he's not very good, though, unfortunately - usually falls asleep with open trades, too: there's always a catch).

wow the cat must be reincarnation of ancient great traders

YUP. It's a Sphinx

Not trading without charts yet, but have been watching the DOM ladder on currency futures for a while and am starting to see that one could trade just using the depth of market ladder. I did have a DOM ladder with LMAX, but it was very hard to read with the very rapid changes since it was in 0.1pip segments. Now I have futures with 1 point/pip ladder, and it is much easier to follow. I still have both charts and ladder, but find myself looking more to the ladder to place trades, but it will be a lot more screen time before I have the confidence to remove the charts altogether.

gileee threadnya, kelas berat. lanjoddddd gan

You could trade without a chart if you could:
1. Know that what you are buying will have more buyers at higher prices
2. ... well do you really need anything else... just buy buy buy and sell when others are starting to buy above your cost basis.

The dangerous thing about this trend is that if you reverse, there's a chance someone other bought from you with the same idea and you closed/reversed position and trend keeps continuing higher. eg. I picked the bottom and sold the "top" of this last AUD rally only to see it went up way more! LOL.

Another problem is that once you see trend developing and you bought at the bottom you get greedy and instead of selling into the trend you change plans and then the trend reverses rapidly leaving you with no profit. Or perhaps it was a weak trend and your selling just collapses it. Now this may sound like it would only be a problem if you traded with a large account but in my experience this is where demo trading differs from live trading and why I say backtesting and demo trading is useless as it's really an execution problem, not a historical data mining problem.

I think some key things you could take into account are - did or did not your sell order get executed - and what to do in each case. Surely if bulls are serious, they would slam through and beyond your sell order. If they aren't serious perhaps they won't even execute your order. (it seems often price comes near to pending order but doesn't execute - that could hint about how serious the bulls are).

i see thanks

on thinking

I love the idea of trading without charts, partly because I think people visualise quantity in 1 of 2 ways; graphically and/or algebraically. Whilst there will be some who can, I doubt many of us are fluent in both ways, and I suspect most of us think graphically. However I am one of those that don't see graphical patterns as well as some, so when it comes to visualising quantities, I prefer to see numbers. For anyone that thinks like me, the problems are self-evident, but I will mention the obvious anyway;
a) speed: most popular markets move so quickly that its hard to make sense of numbers in a typical DOM//ladder or T&S display
b) accuracy: spoofing is such a widespread practice that the numbers can no longer be trusted for the amount of time it takes to make a decision based on them - at least for fat old traders with dodgy sight, like me ...
I think the best footprint charting packages are way too expensive for what they do, and also seem to be built for platforms that are quite unreliable and clunky in use, which is perhaps more of a shame. But there are economical compromises, like number bars and volume analysis indicators that are able to detail auction structure, volumes and delta in real-time, and I have coded some of my own indicators that help me explore volume and price action in my own perhaps simplistic, ways. Many people get confused (myself included), by the way the present crop of footprint charts present much of this data, partly because it is highly relative. For example, what constitutes a "block trade", is it 10, 100, 500 or maybe 1000 or more contracts? This kind of question is the kind of thing that I think really stops people from spending more time looking at the numbers, because it seems to be so ambiguous, and I think presentation has much to do with this. In reality, it isn't ambiguous, it's just relative; to answer the question above, one just has to look back at the volumes that were executed at particular dates and times and compare them with what you see now. With this info, one can estimate well enough what size a typical a block trade in this market would be today. I don't mean to bang-on about block trades, I just mention them by way of illustration, and am not suggesting that they are more important than any other aspect of understanding order-flow and price action. As you will have gathered by now, in many ways I think the modern graphical display has made it harder for traders to visualise market behaviour, in much the same ways as a video can make it harder to understand something than a book on the same subject does. Perhaps the more advanced footprint charting systems will eventually solve this problem, effectively reducing the apparent complexity as they evolve, if so, they will need to do it at the same price to make it worthwhile - to me at least.