Naked Chart Trading and discussion

Just pull up a 1 or 5 minute chart, look at how much data can be hidden in there. It's amazing how many people use time charts over tick and range. Time gives you less setups, so seems people like that as to not get overwhelmed, but also generally poorer entries. For consistency on a lot of strategies you have to wait for a candle close, it can be a huge disadvantage having to wait for a time chart to close.

Time charts have some advantages, for complete context you can view the market in Time, Tick and Range. I prefer to trade on range charts though.
 
MarkBrown said:
first off get rid of time element in charting
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This was actually the post of yours I was looking for before I got distracted by your posts in the technical indicators thread.

Are you eliminating time as a means of smoothing price movement? I'd really like to hear as much from you about this as you'd be willing to share. The idea of reducing or eliminating time (as much as that is actually possible) has been knocking around in my head for the three weeks or so since you posted this and so I've been doing some experiments with intraday charts working with various data aggregators that reduce/eliminate time, e.g. range bars, Renko, etc.
 
Time chart for a fundamental link to the 5 day moving average (average of Mon thru Fri news).
Range chart works better with indicators but amplifies both gains and losses.
 
Evening Star Doji at Resistance. Short.
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tony.m said:
Sounds good on paper but how big is your Stop Loss ?
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Are you playing "Tell us your broke without telling us your broke?"

Stop loss was 1R, profit was 22R, what more do you need to know lol

Stop loss was 1R, profit was 25R. Again, what does the size of the stop loss matter?

Risk $1 to make $25, or risk $10K to make $250K. It iosn't your money, so what does it matter.

Though, I would have preferred the OP post his entries in something close to actual time rather than come here with his zipper down saying "look at me! Look at me!" Because if you don't call it ahead a time, there really isn't much to see, is there. Perhaps he did post the trade ahead of time, but since he didn't quote a post showing the call, I presume this is after the factonl6.

I like the way @vanzandt does things around here. That's a cat that knows a thing or two about a thing or two.
 
TrAndy2022 said:
This is a thread about pure Price Action trading on naked Charts without any indicators.
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TrAndy2022 said:
For me it is a strict reversal trading approach based on Head and Shoulders and maybe Triple Tops or Bottoms as variation here. The goal is to achieve good Reward-Risk-Ratios (RRR) per trade, so that any win rate becomes less important to stay profitable. It is also the goal to minimze drawdowns so I do not look on daily or weekly charts because then the stops get wide.
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Can you discuss the Price Action that triggered the two entries in your chart posted above, Trandy?
 
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