How would you daytrade if you have no charts, only price, volume and market depth?

[babymush]

Any good books to read on this?

 

[MartinD]

this is a good place to start - all about market profile which is not dissimilar:
http://www.cbot.com/cbot/pub/page/0,3181,1184,00.html

 

[roguetrader]

I personally wouldn't, if my charts go down for some reason that's me stopped until they are back up. I think I would consider it a bit like running through a dynamite factory with a lighted candle, it may not kill ya, but wouldn't be very smart. imho

 

[Jumpin]

Some people don't need charts to trade.

 

[roguetrader]

Some people don't need charts to trade.

Oh quite possibly, and far be it from me to tell anyone how they should or shuoldn't trade, I leave it to the market to do that, I was simply expressinga personal viewpoint. If it works for ya run with it.

 

[dbphoenix]

Any good books to read on this?

If you don't require "market depth", there are two: Livermore's How To Trade In Stocks and Wyckoff's Studies In Tape Reading.

 

[Jumpin]

Oh quite possibly, and far be it from me to tell anyone how they should or shuoldn't trade, I leave it to the market to do that, I was simply expressinga personal viewpoint. If it works for ya run with it.

If you know your share well enough you can have a chart in your mind.

 

[Racer]

I have a lot of shares on my watchlist and only have intraday charts for the main movers or ones I trade a lot. I think indices tick charts are very important for intraday movements because you need to get the overall direction clear first, in other words you need to know that the crowd is doing!
Reading books about analysis and psychology of crowd behaviour is very useful, see some of the reviews for books in T2W

 

[nobrainer]

Spot on Jumpin.
The money is on level 2 not a chart. I prefer to go where the money is and don't use any TA, apart from what's in my head.Much more profitable to keep things simple.

 

[dbphoenix]

Spot on Jumpin.
The money is on level 2 not a chart. I prefer to go where the money is and don't use any TA, apart from what's in my head.Much more profitable to keep things simple.

Actually, you're using pure TA . . .