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Naked Chart Trading

  • #21
  • Sep 6, 2006 12:30pm Sep 6, 2006 12:30pm
I've only been trading forex for about a year, and live for about six months, so I still use indicators. MACD seems to work fine for me, and since I use a trend following system I find the lag useful. It serves as confirmation. I would imagine the only way I would be able to trade completely naked is if I had access to some sort of order flow information.
  • #22
  • Sep 6, 2006 12:57pm Sep 6, 2006 12:57pm
Quoting accrete
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.
I've done breakout strategies like that, but I find that you get screwed with setting limits on either side of the channel, because it's too hard to figure out how much padding you need on each side to keep from getting filled and then screwed as the price moves against you...

I don't know how many times I've seen it come up on a ranged channel, it shoots 10-15 pips above the channel, takes out the stops, then crashes down...

You really have to spend a lot of time finding that happy medium...
Mr. Trend
  • #23
  • Sep 6, 2006 1:26pm Sep 6, 2006 1:26pm
Not very hard to find.

Little guy with a funny Blue Hat and a Big Blonde Beard.

...Merlin is the Happy Medium.
  • #24
  • Sep 6, 2006 1:42pm Sep 6, 2006 1:42pm
I love to be naked...

Is that what were talkin about?
  • #25
  • Sep 6, 2006 4:05pm Sep 6, 2006 4:05pm
I'm with you, however I went one step further. I removed price quotes from my platform. All I have now is two buttons for each currency. BUY and SELL...
Quoting Darkstar
I don't even trade off charts any more...
  • #26
  • Sep 6, 2006 4:36pm Sep 6, 2006 4:36pm
I've known a few people, who alledegly ( can't be 100% sure ), trade profitably without using charts at all, beats me how!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #27
  • Sep 6, 2006 4:42pm Sep 6, 2006 4:42pm
During the summer, I often trade in just my dressing gown... Does that count?

I keep drifting back towards trading off trendlines/fib/support/resistance - even guppy has been flushed and doesn't look like he'll be back...
  • #28
  • Sep 6, 2006 4:44pm Sep 6, 2006 4:44pm
It's called order flow and liquidity. That is how.



Quoting Turveyd
I've known a few people, who alledegly ( can't be 100% sure ), trade profitably without using charts at all, beats me how!!!
  • #29
  • Sep 6, 2006 4:49pm Sep 6, 2006 4:49pm
Isn't that the best, not needing charts? I still have one chart up, I can't break the habit. I don't need it though, I'm actually starting to believe I'll be more profitable without it at all. But I like to watch!!!

LOL
  • #30
  • Sep 6, 2006 4:53pm Sep 6, 2006 4:53pm
No memory Scotty here, wouldn't work for me at all.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #31
  • Sep 6, 2006 4:56pm Sep 6, 2006 4:56pm
There is one guy on this Forum that makes a small fortune with it...



Quoting Turveyd
No memory Scotty here, wouldn't work for me at all.
  • #32
  • Sep 6, 2006 5:13pm Sep 6, 2006 5:13pm
Tis good to hear some people make small fortunes, regardless of how they do it.

Gives me hope that 1 day it might be me to
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #33
  • Sep 6, 2006 6:18pm Sep 6, 2006 6:18pm
Quoting smjones
It's called order flow and liquidity. That is how.

Aha ! Yes... but where smjones do you get the timely order flow information?

Lou
  • #34
  • Sep 6, 2006 7:15pm Sep 6, 2006 7:15pm
Quoting HighAsAKite
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?
I plan on starting a thread on my techniques very soon, just keep an eye open and you will see it when I create it.
  • #35
  • Sep 6, 2006 7:39pm Sep 6, 2006 7:39pm
What is a good resource on learning how to read price?

Thanks,
Noe
  • #36
  • Sep 6, 2006 9:31pm Sep 6, 2006 9:31pm
the James16 thread................or better yet the James16 PF




Rsq
  • #37
  • Sep 6, 2006 10:02pm Sep 6, 2006 10:02pm
Ah LOU! Greetings, crazy schedule would still enjoy chatting w/U on stuff.

Who needs charts when you have a calendar with the Moon Cycles on it.

(I did that for you Lou. grin)
Thom
  • #38
  • Sep 6, 2006 11:42pm Sep 6, 2006 11:42pm
Quoting smjones
There is one guy on this Forum that makes a small fortune with it...
Your definition of order flow must be different from mine. Forex doesn't have an order flow system. Sure, you can look at the ECN books of your particular broker, but until CME's new clearing house gets a'going, there's nothing.

Of course, reading the tape is an art in equities and futures...
Mr. Trend
  • #39
  • Sep 7, 2006 12:07am Sep 7, 2006 12:07am
Quoting Mr Trend
Your definition of order flow must be different from mine. Forex doesn't have an order flow system.
If you say so...
  • #40
  • Sep 7, 2006 12:46am Sep 7, 2006 12:46am
Quoting accrete
Ah LOU! Greetings, crazy schedule would still enjoy chatting w/U on stuff.

Who needs charts when you have a calendar with the Moon Cycles on it.

(I did that for you Lou. grin)
Thom

Wow system sent my message before I got into it !! My hourly and 4 hr chart lines disappeared over the weekend. other computer and modem problems as well. Must be the upcoming full moon. Still interested. Less time now than ever however.

Lou
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