trading without charts...suicide?

Quote from whitster:

charts are just a tool. all they do is graph time vs. price (and with or without volume)

you certainly do not NEED charts to trade, or to invest.

some use em. some don;t
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I agree that no one NEEDS a chart, but for you, and all you others out their that dont use charts...dont you feel left in the dark?..dont you feel people know things that you dont?...

I dont know if this is a good example, but a weatherman would probably not go on national TV and give a prediction without consulting his dopplar radar first...


- nate
 
there are more than the simple trader pivots referred to here. most traders have numbers to trade off (they look for and sometimes buy other trader's numbers); some are long above a certain number. some traders fade numbers, especially 'hard' numbers, others trade the b/o's. interest rates traders (note & bonds) also watch yields, they watch reports, reactions to auctions, cash markets, etc.. if you are a member you can see who's arbing, what 'paper' (commercials), or locals are looking at (i'm not too impressed with the piped in "pit" noise btw). some trade within zones, while others use tighter stops. ym traders watch the sp, and don't forget the cash--it's all there on the board above the floor. and if you've been around along enough, you know the big brokers and traders, those who trade 'size.' "xyz is selling 5000 bonds this am. you want to know that. that's what i know about the interest rate side of the cbot mostly. not a member but i subscribe to a service of 2 cbot members and have spent time with them. one uses charts, one doesn't (he sits in his office looking at a screen filled with order books). but i've also heard of bond traders walking into the grain room and trading beans, and they can do it because they have the "feel."
 
"agree that no one NEEDS a chart, but for you, and all you others out their that dont use charts...dont you feel left in the dark?..dont you feel people know things that you dont?

for me? i never said *i* trade without charts.

i use charts. on some INVESTMENTS where i am VERY certain of fundamental aspects, I will ignore charts. but very rarely

but i always trade with charts. i differentiate trades from investments.
 
Quote from cashmoney69:

I agree that no one NEEDS a chart, but for you, and all you others out their that dont use charts...dont you feel left in the dark?..dont you feel people know things that you dont?...

I dont know if this is a good example, but a weatherman would probably not go on national TV and give a prediction without consulting his dopplar radar first...


- nate
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I cancelled my esignal subscription at the beginning of April, and it is the best thing that I have done. I have made money 14 out of 15 days in April. I began trading on an Emini terminal on the floor of the CME. At that time I never looked at charts. I just traded from feel of the market.

Well after canceling esignal I feel more confident in my interpretation of price action. The only thing I use for clues about the market is MD trader.

I guess without charts trading seems simpler. I either buy sell or sit out!! I am not disappointed because the chart makes me look stupid for not being on the trend. Or the chart makes the reversal look so obvious with that long duck dong DOJI!!!!!

When I had charts to look at there seemed to be too many choices - i could buy now -- i could wait for support here --- i could also buy the breakout here ---- or i could sell the failed breakout ------- or if the support fails i could sell ------ well the volume is low maybe i should sit it out.

Obviously you can tell from my Username that I am an active daytrader.

simpler the better for me!!!
 
I remember I started trading stocks without charts. Then I discovered charts. I remember thinking: I had no hope of beating people who had access to charting programs. I am very visual and I get a lot of info from just looking at bars and candles. I would find it very difficult without charts.
 
I trade EUR/USD with 30min charts. But without indicators. It's a relatively simple system that uses only "patterns" and "math."

Whereas, my S&P system uses both charts and prop indicators. That system is so complex that I'm looking at redoing it in the vein of my Forex system (considering that my Forex system is far more profitable).
 
I think it comes down to "getting a feel" for the particular instrument one is trading.

I'm inclined to think that all of the savants who don't require charts learned to trade this way when the NYSE Open Book games were in thier infancy. It was very easy to make money back then. In fact, many traders who deployed front-running as thier SOLE trading strategy have been forced out of the business. On the other hand, a refined tape reading ability combined with an intuitive sense of when to trade with a move or fade it, is surely a winning combo.

My only point is that if you are trying to trade solely off the tape now - with everyone wise to what's going on (fake size, hidden order books) - you have little hope of excelling. There is too much bullshit on the tape to get a solid sense of what's occuring.

If you're a newb, pass on tape reading, and figure out how to use a chart with as few indicators as possible.
 
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