Are there any analysts out there who have grown comfortable enough to trade without the aid of a chart? Has anyone grown so comfortable with price that they trade with price action alone? Like to hear how that's going
>>>>>>>>>>Charts are a print of the past<<<< they are a waste of time...... the only chart you need is the one in front of you LIVE and in living color! to much info will kill your trading..... keep it simple..... look at the emotions of the market as you trade .....what's in front of you tick by tick.......however you need to look inside the box with no emotions clear mind and be ready that's the trick. trading is an art ......just like a painter or a musician I'm sure the TA guys will flame me now
trading with charts makes it simple. i tend to gamble money with the highest edge possible. trading without charts would increase the chance of a mistake. dumb...IMO
i switch back and forth. depends on the system being used. opening gaps, no chart need MOO + stop daily r3, s3, no chart needed, limit + stop easy. and I find these end up being great trades. i give trading without a chart +1.
To me trading without charts is like operating a vehicle without eyes. possible a small jet? If you work at a hedge fund then maybe a 747.
I traded over a year without using a chart and did pretty good at it just using L2 and T & S I use charts most the time now but actually think i did better with out them sometimes.
Technical chart analysis is an excellent tool for spotting exit targets and stops but IMO for entries you need some type of algorithm that is interpretation bias free to get the entries. I use Fibo retracements and charts patterns, like flags and triangles, to determine targets but whenever I based my entries solely on chart analysis I more than often failed. Charts tell you only what has already happened. I agree with the author of this paper that entries should be based on probability and that depends on specifc R:R, which in turns requires that you have an algorithmic startegy that can be tested.