Professional traders screens are made up mostly of numbers, amateurs screens are made

Discussion in 'Trading' started by mokwit, Oct 23, 2010.

  1. As ET tyhese days mostly seems to be made up of threads designed to generate responses I thought I would start one.*

    Here is the 'cat amongst the pigeons' of a end of month furious reply and hit generating thread :D

    "Professional traders screens are made up mostly of numbers, amateurs screens are made up mainly of charts". Discuss

    You will have to agree its better than the "Technical Analysis Doesn't work/Staring a hedge fund/new trading PC standbys (good info from that last one actually).

    Well at least ET have retired that threadbare old standby whereby a bemused Ivy asks for help deciding between the offer from Goldman and the offer from SAC or deciding between an I bank ofer and trading from home.

    *Note I am not complaini8ng per se, ET is a free resource that has to be financed somehow, I am just trying to stimulate a little more creativity and genuineness than the old threadbare standbys.
  2. I have never and would never patronize an et sponsor just for that reason.
  3. jOllie


    Of course. Charts are deceptive and moronic. There is no need for them only fir right brain artistes and mental paitents who don't get it and like to watch pretty pictures
  4. ideabox


    Who don't get what?

    Using charts is simply a graphical way of seeing the same thing that you would see with numbers (for the most part).

    Charts are mostly used to identify patterns. How else can you see a support or resistance level being approached (if that is what you are monitoring) intraday as well as looking at volume and a few other indicators and comparing these to the last time the support or resistance level was approached?

    Am I missing something?
  5. Spell check is always a good idea.
  6. Yes.
  7. joe4422


    I stopped using charts a while back for a simple reason, all things being equal the simplest solution is the right one.

    Okay, I do look at charts for the price levels, then I plan my trades, and put them in. Too easy.
  8. Yes, better.
  9. All you should need to trade is a RT or EOD feed, whatever your style is, that is processed by an algorithm with output two numbers for each market you trade, one is the probability of the market to go up or down and the other the statistical significance of the result. If the values agree with your backtesting them you automatically place the order.

    This is trading in 2010. Looking at charts is 1980s style of trading.
    #10     Oct 24, 2010