Scalping without charts

Discussion in 'Strategy Development' started by spreadem, Apr 27, 2003.

  1. I wonder how many people scalp or have considered scalping without charts. I know of only one other trader besides myself , that has a technique for scalping without the use of charts, technical analysis or any of those things.

    Now, I know that many traders can’t make a single trading decision unless they pore over all of their charts and apply all of their favorite indicators. But using charts to trade is only a method. There are other methods where you never look at a chart, …, where all you need are real time quotes, either from a data provider or through an order entry platform like J-trader or TT or IB’s tws.

    Without revealing any super secrets, has anyone attempted to trade (scalp) using only quote boards without charts, or technical analysis?
     
  2. Pabst

    Pabst

    I only have one monitor so my chart reading is hardly moment to moment intensive. While I certainly keep s/r levels in my head and try to be cognizant of where some key MA's and fibs are, very few of my 5-20 futures trades a day are technically derived.
     
  3. Tacsian

    Tacsian

    I know that two other elite trader members are also trying or have tried scalping in the Emini with no charts...

    PM Mr. Subliminal or Phoenix_Rising as they both have pursued that method...also, both have chronicled some of their experiences in journals on this board that a search might turn up
     
  4. lundy

    lundy

    seems like u are refering to tape reading?

    if so, i think it's quite popular.

    in early 2000, i didn't use charts, just a l2 and t&s.
     
  5. based on the arb .... opportunities

    2000 provided a lifetime of them

    has not been the same since :(
     
  6. I trade ES and I find that if I list ES, SPX, OEX, NY composite, DOW composite, and INDU in a quote page and monitor them, on a single quote page I can watch them all at the same time without trying to interpret charts. One technique is to watch all of the indicies make highs or lows all at the same time.

    The same applies when I trade NQ. Just list NQ, NDX, COMPQ, etc.
     
  7. hmm how do u trade without charts spreadem? without revealing supersecrets:)
     
  8. X$Trade

    X$Trade

    Interesting strategy Spread! But may I ask why you trade without charts? Is it too add some challenge to the otherwise laughably easy job of trading the markets for a living:D :D

    But seriously, do you have a particular reason for no using charts? I scalp high volume Naz stocks using mostly level II info but I also feel the need to use charts. I don't trade off the charts but it is a tool for me much like the rear-view mirror in my car, I use it to see where we have been and if something might be coming up on me fast that I don't realize. I see charts as an important tool and while I could trade without them I feel safer having them.

    X
     
  9. Monitor real time quote board that includes highly correlated stocks and indices for movement gives short term momentum opportunity. Entry signal is usually a stop above/below the market depending on whether or not I getting long/short.

    Time and Sales and quote screens give a lot of information.