Is trading without charts possible? How?
- Thread starter Yogi_baba
- Start date
Robert Morse
Sponsor
I have a client that trades without market data. They analyse data at night, enter MOO orders and exit with MOC orders.
As a tick scalper, I learned that a candlestick chart was at best a redundancy to the DOM, and at worst at distraction. If I wanted something besides the price ladder, it would've been the ATR, and then an averaging calc (SMA, EMA, ADX, whatever). But the actual, instant prices? Nah.
For anything over a 1-minute trade, though: yeah, price charts for me.
For anything over a 1-minute trade, though: yeah, price charts for me.
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MattZ
Sponsor
When I explore a suitable trading software for a customer, I always think of charts as a critical variable. For many, it is a good reference system, and although there are those who can use limited data, end of day data, etc. I would not recommend using such methods because those who use it may have many years of trading and could "absorb" a day's move without having any effect on capital and their psychology. Watching the chart is also a way to manage risk, and seeing market steps in historical context. Don't try to imitate others, because in the trading world there are too many urban legends.
What kind of analysis is required?
What kind of analysis you're using now ?
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Never???
Interesting comment, how did you begin, how long ago, was this with a mentor who showed you a specific method?
Do you mean you never ever look at charts? Because of blindness? Intriging comment having zero charts.
I don't look at charts much, but sometimes it is comforting to look at a chart and think "That piece of crap trade I did is gonna be ok because it is basing right here." Or maybe, "I'm losing my ass, but no prob 'cause it's on low volume!." 
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