Cashmoney69, I used to be one of those traders. Having a degree in accounting, I had a bias towards the financial statements of companies. That is what I used to trade. We also saw the accounting scandals of the 90's so, there goes the fundamental analysis. If you cannot rely on the financial statements of a company? What do you trade on? Only answer is level 2 or higher stock quotes or charts. I use a combination of fundamental and technical analysis nowadays but, for short term swing trades----I just use charts.
Smallfil you bring up a good point. For users of fundamentals it is a sad day when the financial statement you're looking at cannot be relied on. But I think no matter what tools you use, be it charts or financial statements or price and volume action, the market has the final say. I started trading on charts and indicators position trading but often in day trading I find that I don't look at them as much, relying more on price changes and volume... but I usually have a few charts open to glance at. I guess whatever works, use it
I trade using a automated system I developed which notifies me when to enter / exit. Although I do have the program create teh charts, it is not needed by the system.
None of the good traders that I've met use charts. I know of know successful trader that relies primarily on charts. I do not use charts
trading without a chart...it wasn't that long ago that gold and the U.S dollar traded inversely to one another even on an intraday basis- maybe markets that trade inversely to one another is part of the guy's ticket. Another thing that comes to mind is market profile by mr. Steidlemeyer(unsure of spelling), those two things might help to eliminate a chart
I've been reading your posts about how you trade with CHARTS on Williams %R. Good stuff, by the way. This isn't trading with charts ... or are you talking about another method you use?
you may not trade with charts during the trading day, but do you use them <b>before and after</b> to look for trends, and see where you entered and exited a trade to try and refine your technique?. Couldn't trading with out a chart be compared to driving blindfolded? - nate