Trading Without Charts?

This is a discussion on Trading Without Charts? within the Home Trader forums, part of the Trading Career category; Even so, reasons why those of us are wrong would be helpful, otherwise I can't see much point in your ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Aug 31, 2009, 4:24pm   #16
The Staff are paid members that perform various roles such as editorial, advertising, support or technical work.
 
timsk's Avatar
Joined Mar 2002
Even so, reasons why those of us are wrong would be helpful, otherwise I can't see much point in your posts.
__________________
I'm New To T2W - Where Do I Start? - a must read for anyone new to T2W
I'm New To TRADING – Where Do I Start? - a must read for anyone new to TRADING
The Trading Plan Template - a must read for anyone without a proper TRADING PLAN
Please note: I am part of T2W Admin' Staff - I am NOT a Moderator!
timsk is online now   Reply With Quote
Old Aug 31, 2009, 4:40pm   #17
 
rathcoole_exile's Avatar
Joined Jun 2007
pick a price (at random if you don't believe in PPs)
decide what you're going to do when price hits that price
set in advance your Stop or Limit entries on the DOM
pre-set Targets, SL, movement of SL etc
go to pub

rinse & repeat....and not a chart in sight .......

and yes, this IS what I do every day ......
__________________
my Opinion is never "humble "

karl6666: 'Why doesnt anybody like you R_E, is it because you shout?'
rathcoole_exile is offline   Reply With Quote
Thanks! The following members like this post: tenbobtrader
Old Aug 31, 2009, 5:27pm   #18
The Staff are paid members that perform various roles such as editorial, advertising, support or technical work.
 
timsk's Avatar
Joined Mar 2002
Quote:
Originally Posted by rathcoole_exile View Post
pick a price (at random if you don't believe in PPs)
decide what you're going to do when price hits that price
set in advance your Stop or Limit entries on the DOM
pre-set Targets, SL, movement of SL etc
go to pub

rinse & repeat....and not a chart in sight .......
Okay, I'll edit my original post (in blue) to take account of your approach.

I agree with Tom.
As far as I'm aware, there are broadly only three categories of market speculators that don't want or need charts:
1. Scalpers who use the DoM price ladder, level II and T&S.
2. LTBH fundamental investors.
3. Those that trade like r_e (quoted)
If you don't fit into one or other of those three camps then, likely as not, charts are going to feature in your decision making process at some point or other.

Now, broadly speaking, does this meet with your approval?

Tim.
__________________
I'm New To T2W - Where Do I Start? - a must read for anyone new to T2W
I'm New To TRADING – Where Do I Start? - a must read for anyone new to TRADING
The Trading Plan Template - a must read for anyone without a proper TRADING PLAN
Please note: I am part of T2W Admin' Staff - I am NOT a Moderator!
timsk is online now   Reply With Quote
Old Aug 31, 2009, 6:14pm   #19
Joined Jul 2009
Quote:
Originally Posted by rathcoole_exile View Post
pick a price (at random if you don't believe in PPs)
decide what you're going to do when price hits that price
set in advance your Stop or Limit entries on the DOM
pre-set Targets, SL, movement of SL etc
go to pub

rinse & repeat....and not a chart in sight .......

and yes, this IS what I do every day ......
I do remember in one of your posts you mentioning: Half od the time I do not even look at the charts. What about the remaining half an hour then?

best wishes
shatztrader is offline   Reply With Quote
Old Aug 31, 2009, 6:21pm   #20
Joined Nov 2008
Quote:
Originally Posted by timsk View Post
Hi r_e,
I can't speak for the others who are 'wrong', but I for one am happy to stand corrected. After all, I did say 'as far as I'm aware'. But, four 'wrongs' of varying intensity and one 'right' isn't quite the helpful and insightful advice that one might hope for from a 'T2W Advisor'. A tad more detail would be most welcome, please!

Tim.
Tim, RE scalps like a mohican on X/bolivian marching powder, who's just grown a pair of bollox...scalping is his thing...
Black Swan is offline   Reply With Quote
Old Aug 31, 2009, 6:27pm   #21
The Staff are paid members that perform various roles such as editorial, advertising, support or technical work.
 
timsk's Avatar
Joined Mar 2002
Quote:
Originally Posted by Black Swan View Post
Tim, RE scalps like a mohican on X/bolivian marching powder, who's just grown a pair of bollox...scalping is his thing...
Well, if you're right, then r_e isn't playing with a straight bat, and his trading style is adequately described in my first category relating to scalpers.
__________________
I'm New To T2W - Where Do I Start? - a must read for anyone new to T2W
I'm New To TRADING – Where Do I Start? - a must read for anyone new to TRADING
The Trading Plan Template - a must read for anyone without a proper TRADING PLAN
Please note: I am part of T2W Admin' Staff - I am NOT a Moderator!
timsk is online now   Reply With Quote
Old Sep 1, 2009, 2:31am   #22
 
rathcoole_exile's Avatar
Joined Jun 2007
Quote:
Originally Posted by Black Swan View Post
Tim, RE scalps like a mohican on X/bolivian marching powder, who's just grown a pair of bollox...scalping is his thing...
eh ??????????????????
__________________
my Opinion is never "humble "

karl6666: 'Why doesnt anybody like you R_E, is it because you shout?'
rathcoole_exile is offline   Reply With Quote
Old Sep 1, 2009, 10:40am   #23
Joined Nov 2008
Quote:
Originally Posted by rathcoole_exile View Post
pick a price (at random if you don't believe in PPs)
decide what you're going to do when price hits that price
set in advance your Stop or Limit entries on the DOM
pre-set Targets, SL, movement of SL etc
go to pub

rinse & repeat....and not a chart in sight .......

and yes, this IS what I do every day ......

superb.. you must been taking quite a long journey to reach this level.. did you?
__________________
Life's greatest pleasure lies in helping others accomplish their desires.
everyonerich is offline   Reply With Quote
Old Sep 1, 2009, 11:20am   #24
 
TreyTzu's Avatar
Joined Nov 2008
why would you ever wanna trade without charts
TreyTzu is offline   Reply With Quote
Old Sep 1, 2009, 12:23pm   #25
The Staff are paid members that perform various roles such as editorial, advertising, support or technical work.
 
timsk's Avatar
Joined Mar 2002
Quote:
Originally Posted by TreyTzu View Post
why would you ever wanna trade without charts
Because they . . .
1. reduce the screen real estate required which saves money on monitors.
2. reduce / eradicate subscription fees to a data / charting provider.
3. do not help (and may even hinder) your trading performance.
That's for traders who don't need or want charts. For those of us that do, point 3 does not apply and we can only do our best to mitigate the effects of points 1 and 2.
__________________
I'm New To T2W - Where Do I Start? - a must read for anyone new to T2W
I'm New To TRADING – Where Do I Start? - a must read for anyone new to TRADING
The Trading Plan Template - a must read for anyone without a proper TRADING PLAN
Please note: I am part of T2W Admin' Staff - I am NOT a Moderator!
timsk is online now   Reply With Quote
Thanks! The following members like this post: tenbobtrader
Old Sep 1, 2009, 12:36pm   #26
 
TreyTzu's Avatar
Joined Nov 2008
most charts are free nowadays provided by brokers and its not like everyone who trades has to go buy ten screens.... those who have multiple screens do so perhaps out of personal preference
TreyTzu is offline   Reply With Quote
Old Sep 1, 2009, 12:57pm   #27
Joined May 2008
Not been trading long have you?
Technically Fundamental is offline   Reply With Quote
Old Sep 1, 2009, 1:01pm   #28
 
TreyTzu's Avatar
Joined Nov 2008
Quote:
Originally Posted by Technically Fundamental View Post
Not been trading long have you?
if you are referring to me , wat made you say that
TreyTzu is offline   Reply With Quote
Old Sep 1, 2009, 1:04pm   #29
Joined May 2008
The fact you said that charts are free when there are charts and there are charts and that multiple screens are personal preference
Technically Fundamental is offline   Reply With Quote
Old Sep 1, 2009, 1:22pm   #30
 
TreyTzu's Avatar
Joined Nov 2008
Quote:
Originally Posted by Technically Fundamental View Post
The fact you said that charts are free when there are charts and there are charts and that multiple screens are personal preference
i dont understand your statement about free charts ?

anyway it is a personal preference for multiple screens, some have 2 monitors some have 3 some have 4 so yes it is personal ....there is no fixed rule as to how many screens you need so whatever point you are tryin to make i am still confused
TreyTzu is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Mr. Charts Trading Set up timsk Stocks 3 Sep 7, 2008 8:15pm
Anyone Trading on 4hr Charts ? Iqbal Forex 41 May 25, 2006 8:27am

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)