The barless system?

Discussion in 'Technical Analysis' started by 4XIS4U, Nov 24, 2006.

  1. 4XIS4U


    For the last little while I've noticed that individual bars puts a of stress on me when trading and also take me away from what's really happening... I then started to play around with the line charts... surprisingly it gives me a great level of confort when trading...

    I also know that this system works better on trending days and will give money away on chop... but, my simple visual backtesting tells me is still profitable when I apply my take 1/2 profit rule...

    am I crazy trading of these charts?


    <img src="</img>
  2. If it makes a profit and also makes you feel good who cares if you are crazy?
  3. Use what works for you. I find that bar charts dont tell me what i need to know, so I use candles alot. A lot of traders would say that using candles are crazy. But screw it, it's working for me so who cares what they say. If line charts work for you, more power to you.

    If it makes you money than its not crazy.
  4. I know a number of traders that use line charts with great success. Setting up your trading environment so "YOU" are comfortable with it is all that matters. I agree with the other poster. It isn't that you are crazy, your comfort zone is different. Big deal, whatever works for you. If anyone tells you different . . . then you have someone to hang the crazy tag on.
  5. Also, if you stay away from the bars you are less likely to get drunk! :D

    BTW, nice chart! :)
  6. 4XIS4U


    Thanks for all the replies, very positive and encouraging.
  7. I had the same problem but here is what I did.

    I still have my bar charts but I overlay them with the
    "weighted close" line. Which gives you both. The bar charts
    and the line charts put together. Works for me.

  8. 4XIS4U


    thanks snarly ... good suggestion, I'll give it a try.

    I actually use the line closes to look at possible pivot points... trailing stops and such...
  9. "I find that bar charts dont tell me what i need to know, so I use candles alot. "

    fwiw, candles and bars tell you the exact same thing, they just depict it differently

    they tell you OHLC for each period. the ONLY difference is how it is visually depicted.

    of course, the different depiction is helpful for many people

    as to the OP, if line charts work for you - then use them.

    it's that simple
  10. What works for you. Sometimes I think we are our own worse enemies. Thinking what others think and making things to complex just to impress. I follow the KISS rules.
    #10     Nov 24, 2006