Hi there Just in the middle of the Richard Schabacker book and was just wondering to myself is there any old school chartist out there that take the hands on approach and still use graph paper or at least print them out and do their technical analysis homework the old fashioned way.Please let us know your ritual Thanking you in advance
For looking for investments only and then doing TA on the printed charts... Not suitable for daytrading purposes even if you have unlimited supply of ink/paper. I read the book once in college at the university library. I can not remember much about it except that it was an old copy and the library should have put it in their collections department for better protection. wrbtrader
Here's something a few of you might remember... Futures Charts sent weekly via snail-mail. 2 chart books per week covering all futures markets, daily and weekly. Monthly charts sent once a month. I was a subscriber.
Printing burns paper and ink. Via the cludgy IB_TWS charting, it's an easy thing to draw straight lines, move them around, create parallels -- so I'll go so far as to note (what I think are to be) trends, try to get a visible handle on their periodicity*, and if I think I have a pattern that transposes well between a T/A indicator and the market, I'll go ahead and (by mouse/hand) mark entries and exits on the indicator, and then (by eye) do the math on the appropriate candles, and compute trade results and compile more-extended 'by-hand' performance statistics. Doing this eyeball-driven, but-mostly-by-hand process usually leads to a profit-making (hindsight) study. Takes an hour to 2-3 hours, depending. *ToS has a tool which I always thought was neat. I don't know how it works, but it lays down little arc-dome shapes along the bottom of the chart, ostensibly to illustrate periodicity in the charted asset. I THINK this is stretched/compressed by the user (perhaps via the mouse?), but it'd be a useful project to push that idea, to optimize profits (subject to a risk constraint, OR, unrestrained) over the available time horizon. I'm thinking, I'm thinking..... but down the road? This will all be instant for me, once a .csv scrape feeds a spreadsheet.
%% Done some of that, this year[one year home made line charts]; but enjoy printed candle charts more, with some hand drawn lines, on those......Graph paper work takes to long for me, even though its time well invested.A printed out candle chart helps me much more than any computer screen chart;use plenty of both myself.
The number of stocks have increased over the past, and it's hard to do all the chart manually if not impossible. It's more productive to spend time reading rather than plotting charts. Believe you me, RW Schabacker would prefer the computer over the manual charting if he had it then.
%% Or custom marking/trendlines printed charts; but i seldom draw a moving aVerage by hand. But do record by hand ,moving average number like 200dma; SPY $275 area