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Naked Chart Trading

  • #1
  • First Post: Sep 6, 2006 12:09am Sep 6, 2006 12:09am
NO NO NO PEOPLE, PUT YOUR CLOTHES BACK ON!!



I meant, anybody else trade without indicators??

I'm doing pretty much pure Price Action now, and would like hear from anybody else doing the same thing..

Me vs the Forex in its purist form..
google:
  • #2
  • Sep 6, 2006 12:21am Sep 6, 2006 12:21am
I don't even trade off charts any more...
  • #3
  • Sep 6, 2006 12:43am Sep 6, 2006 12:43am
I'm doing price action trading too. ACD method of mark fischer with fibs and pivots. =) Although I place MAs on my chart, I don't look at them much, wonder if I should take them off. Hahaha
  • #4
  • Sep 6, 2006 12:45am Sep 6, 2006 12:45am
Quoting twoblink
NO NO NO PEOPLE, PUT YOUR CLOTHES BACK ON!!



I meant, anybody else trade without indicators??

I'm doing pretty much pure Price Action now, and would like hear from anybody else doing the same thing..

Me vs the Forex in its purist form..
No more Guppy? LoL
  • #5
  • Edited 1:12am Sep 6, 2006 12:49am | Edited 1:12am
It seems to me that when the price is going up the indicators are going up.
When the price is going down the indicators are going down.

Duh ?

How do you trade your forex sir?

do you buy it with a click?
or leave it to a mechanical script?

do you run with the news?
or the pure technical moves?

is the green dollar your thing?
or with the euro do you swing?

I simply must know sir,
how do you trade your forex?
Trade what you see - Not what you think
  • #6
  • Sep 6, 2006 1:21am Sep 6, 2006 1:21am
Quoting Darkstar
I don't even trade off charts any more...
IMPRESSIVE !!!!!
  • #7
  • Sep 6, 2006 1:46am Sep 6, 2006 1:46am
I use no indicators of any kind. Pure price action.
Mr. Trend
  • #8
  • Sep 6, 2006 1:54am Sep 6, 2006 1:54am
Quoting Mr Trend
I use no indicators of any kind. Pure price action.
Same here, I use strictly trend lines and fibs on my charts. No indicators for me, they all lag, whats the use, for them to tell you what already happened in price. Anyway, thats what I do...
  • #9
  • Sep 6, 2006 2:24am Sep 6, 2006 2:24am
Moutekitrader:

Can I ask hor you trade with Trend lines and Fibs?

Do you watch for a break in trend on a supporting Fib Line?




Quoting moutekitrader
Same here, I use strictly trend lines and fibs on my charts. No indicators for me, they all lag, whats the use, for them to tell you what already happened in price. Anyway, thats what I do...
Ride it like you stole it! Life begins at 25 Knots!
  • #10
  • Sep 6, 2006 2:36am Sep 6, 2006 2:36am
Quoting linuxtroll
No more Guppy? LoL
I'm Chinese, so I ate them all..
google:
  • #11
  • Sep 6, 2006 9:09am Sep 6, 2006 9:09am
Quoting Darkstar
I don't even trade off charts any more...
So you've gotten so good at interpreting the order flow and news quotes that this is all you need?

Impressive. How many years did THAT take to master?

Jason
  • #12
  • Sep 6, 2006 9:11am Sep 6, 2006 9:11am
only thing on my chart is volume and implied volatility. and since forex has neither, my forex charts are wearing only their birthday suits.

unless an indicator gives "new" information, like volume, then it is nothing more than a pair of sunglasses for looking at price. eventually you dont need the glasses anymore and you just look at price.
Relax and be happy.
  • #13
  • Sep 6, 2006 9:19am Sep 6, 2006 9:19am
Yea, well now I just imagine the market I am trading. and place a trade with the stoploss and target profit all figured out... works 95.76% of the time.
Of course when it fails, I lose 95.76% of my account. But hey it's getting there... But seriously, Price is really all that is needed.

Disclaimer, You would be an idiot to trade like me. ( For the newbies, I am joking, maybe not about the disclaimer part.)

Scott

Quoting merlin
only thing on my chart is volume and implied volatility. and since forex has neither, my forex charts are wearing only their birthday suits.

unless an indicator gives "new" information, like volume, then it is nothing more than a pair of sunglasses for looking at price. eventually you dont need the glasses anymore and you just look at price.
  • #14
  • Sep 6, 2006 9:27am Sep 6, 2006 9:27am
A lot of experienced traders seem to trade this way. There is a good site called www.trading-naked.com on pure price action. I find for my own trading that indicators simplify price action and make it easier to see through the noise.
  • #15
  • Sep 6, 2006 9:28am Sep 6, 2006 9:28am
Quoting merlin
only thing on my chart is volume and implied volatility. and since forex has neither, my forex charts are wearing only their birthday suits.

unless an indicator gives "new" information, like volume, then it is nothing more than a pair of sunglasses for looking at price. eventually you dont need the glasses anymore and you just look at price.
Hi Merlin Open Interest would be... hmm... interesting also.

But don't you think that individual Brkr Counted Tick Volume is of any use at all?

Admittedly, when a Large steps in and trades a whack load o' contracts, I would rather see the Volume whack it's load also... as opposed to just flicking a tick or two.

But I do think Tick Volume can be useful simply by comparing it to itself.
  • #16
  • Sep 6, 2006 9:53am Sep 6, 2006 9:53am
Quoting jlowder
How many years did THAT take to master?
~4000 hours
  • #17
  • Sep 6, 2006 10:07am Sep 6, 2006 10:07am
Quoting twoblink
I meant, anybody else trade without indicators??
As I know, there are two types of trading forex:
1. News
2. Technical. Technical aslo has two types: indicators and trend line.
You can use pivot, fibs to know more about price action.
You do not use indicators. No problems, you can use news, trend line, pivot, fibs.

However, I think the more factors you use to trade, the better result you get That is because more factors, you can see best signal and decrease whipsaws.
A member from Viet Nam. Forex changes my life
  • #18
  • Sep 6, 2006 11:35am Sep 6, 2006 11:35am
Aren't trend lines of fib levels sort of indicators?

Candlesticks also?
Try hard, think fast, die young
  • #19
  • Sep 6, 2006 11:38am Sep 6, 2006 11:38am
Well all I use is SMA's, I see no merit in proper RSI MACD type indicators, as they lag to much.

I have tried naked totally, but I like something to base my trades around.

There be advantages to purely naked as no system of any kinda works 100%, sometimes indicators take you outta a trade wrongly or keep you in.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #20
  • Sep 6, 2006 12:04pm Sep 6, 2006 12:04pm
Hi all : )

For me it's a love, hate relationship. Since i'm a doodler, i like to turn knobs and twist controls. I spend an inordinate amount of time just playing with stuff on the charts. I like the security blankie feel of some colorful MAs on the charts, though any MA seems to get in the way in the end as i really like to trade break outs. Over the short time (15 months) i've been learning FX, the break out trades i've taken have consistently been the most profitable. And all i'm using there is a simple box trade set up and a trend line break. Sometimes not even either of the above, just simply placing entry orders a few ticks above/below the recent high/low accompanied hopfully by a engulfing candle. Fairly easy stuff.

Thom
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