Trading Without Charts?

[timsk]

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.

 

[rathcoole_exile]

Tim, RE scalps like a mohican on X/bolivian marching powder, who's just grown a pair of bollox...scalping is his thing...

eh ??????????????????

 

[everyonerich]

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?

 

[TreyTzu]

why would you ever wanna trade without charts

 

[timsk]

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.

 

[TreyTzu]

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

 

[Technically Fundamental]

Not been trading long have you?

 

[TreyTzu]

Not been trading long have you?

if you are referring to me , wat made you say that

 

[Technically Fundamental]

The fact you said that charts are free when there are charts and there are charts and that multiple screens are personal preference

 

[TreyTzu]

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

 

[Technically Fundamental]

Some charts are sh1t. Any serious day trader needs more than one monitor.

 

[TreyTzu]

Some charts are sh1t. Any serious day trader needs more than one monitor.

i was unaware that some charts are sh!t...

can you tell me which ones to look out for from your own experience

 

[Technically Fundamental]

Any that dont give volume

 

[HawkTrader]

Any serious day trader needs more than one monitor.

Why? What if you're only trading one currency pair and your monitor is big (+22inch)?

 

[N Rothschild]

course you can trade without charts lol.

never heard of floor traders in the pit before?

 

[Technically Fundamental]

Why? What if you're only trading one currency pair and your monitor is big (+22inch)?

shut up

 

[TreyTzu]

course you can trade without charts lol.

never heard of floor traders in the pit before?

floors traders main strategy is just screaming and shouting

you gotta luv it

 

[TreyTzu]

Any that dont give volume

forex charts don't have volume naturally right?

 

[Technically Fundamental]

Nope

 

[HawkTrader]

shut up

:cheesy:

Could somebody please explain to me what exactly DoM (Depth of Market) actually is? I hear MT4 has it, but I have a demo with them and don't see it anywhere...