Trading Without Charts?

This is a discussion on Trading Without Charts? within the Home Trader forums, part of the Trading Career category; pick a price (at random if you don't believe in PPs) decide what you're going to do when price hits ...

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Old Aug 31, 2009, 4:40pm   #17
 
rathcoole_exile's Avatar
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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 ......
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Thanks! The following members like this post: tenbobtrader
Old Aug 31, 2009, 5:27pm   #18
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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.
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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
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Old Aug 31, 2009, 6:21pm   #20
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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...
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Old Aug 31, 2009, 6:27pm   #21
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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.
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Old Sep 1, 2009, 2:31am   #22
 
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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 ??????????????????
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Old Sep 1, 2009, 10:40am   #23
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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?
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Old Sep 1, 2009, 11:20am   #24
 
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why would you ever wanna trade without charts
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