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Trading Without Charts

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  • Trading Without Charts

    this post is kinda crappy and probably doesn't explain how I have been trading very well so be gentle.

    *** Introduction ***

    You can skip this it is just a background info on my attempt to develop a personal scalping system.

    I have been having success trading without charts over the course of this last week and a half. About 1-3 hours of trading a day before I get tired of it. And about 10-30 trades during that period of time.

    One market hypothesis is that past prices don't affect future prices. This is not fact but I felt like this idea supported my method which is essentially tape reading in a simple form.

    I found through trading 7 years of historical tick data played at 10-30x the normal speed it was incredibly easy to "ride" price waves at that speed. So I have been slowly decreasing the playback speed and have recently started trading live. With slightly lower success results but none the less success.

    *** My General Rules ***

    1. Hide your "Unrealized P&L" It is only there to inflict greed and fear and by only paying attention to price I seem to go from zero to hero when trading. I manage my risk through low leverage and cutting losers quickly

    2. Take profits are manually taken so they range anywhere from 0-10 pips.
    (I leave a trade when I believe price as slowed sufficiently that staying in the trade is increasing my risk instead of my profits.)

    3. Stop losses are quick and manual Later explained my stops are typically 0.1-0.5 pips from my entry so losses are hopefully 1-1.5 pips total. The manual stop means pay attention and be quick because price can go negative quickly so cut em quick.

    4. I trade during Asian sessions. I read that price seems to range more during asian sessions and since finding a trend requires looking at and deciphering past data on charts and picking the right direction which I seem to get wrong more than not I choose to be unbiased in my trade directions.

    5. This is considered scalping so who knows. I hear that there are no long term successful scalpers. Which is why I have been testing this on the 7 years of tick data at various portions throughout each year. But times change so don't bet the farm, bet demo bucks instead.

    *** Trading Method ***

    After prepping yourself this is how my typical trade setup goes.


    Spread 0.6-1.2
    500 Dollars Deposit
    1000 unit trades

    So my last trade went something like this.
    I watch the last digits of the bid hit these numbers in this order.

    I paid attention to
    how quickly price was dropping and returning back up.
    and how far price had gone down and when it had stopped pushing lower numbers

    I felt that I could get in at around 867 and exit hopefully at a higher price

    My stop would be at 863 (.1 pips lower than the previous low of 864)

    I then wait for price to make this similar slowing down of movement but in a positive direction to signal my exit for TP.

    In a nutshell I watch price to get a feel for its average movements and the speed at which they react come, then enter when price has trouble continuing those movements.

    Example movements

    up 2, down 5
    up 2, down 5
    up 3, down 4
    up 3, down 3
    up 4, down 3
    go long here

  • #2
    Trading without chart will be a work of foolish. Because we need accurate signal for trading that’s why we should analyze Forex through the chart. So the chart should be clear and fluent. Trade is a broker provide fluent chart with other facilities. Trade12 offers the MetaTrader 4 platform, which is one of the most popular online trading platforms in the financial market. The MT4 is available on desktop, mobile and tablet devices. Trade Forex, Futures and metals, via desktop, smartphone or tablet device fast and secure on a user friendly interface.

    Using our Mobile Apps for Android, iPhone and iPad, you can instantly access your trading account anywhere, anytime and execute at the click of a button. Execute all trading orders live with real-time pricing quotes of all available instruments.


    • #3
      I am not sure about your trading strategy actually! Whatever, I trade in Forex according to only Price Action trading strategy, it’s all about market movements! This is way, I can’t trade here without candle chart! Even, I need advance technology into my live chart like NDD support; and I get all of latest technologies into ECN trading account of trade24 broker with good order and position management tools!


      • #4
        New traders getting scammed by IronFX broker. Moreover, I have stood up to such countless with them. Their activities are not fitting with their clients in like manner as my experience with them they are not transparent and given. They are a criminal alliance who plant fake stories in everywhere. They provided me with slippages and requotes. With them the chances of losing your money is so high. You should avoid them.


        • #5
          There are many brokers in the market who are actually scammer. So it is very difficult to find out a good trading broker. I have seen many traders who are following trading signals. But trading signals are not always reliable. A good trading broker can always provide a good trading signal. Such a broker is TopFX24. Because they analyze the market very well with fundamental and technical analysis. That’s why I am trading with them.