Trading Without a Chart

[MightyMouse 12]

What a thread!

 

I couldn't decide if the stimulant was crack, meth, or adderall. It sees like it ended and I will never know.

[evroom1 10]

if i could have figured out how to close this thread, I would have done so before medication was needed. lol

 

After all was said and done I actually found two people who understood the question and provided a clear answer without other questions or directions.

[Jumper 10]

My question is " Is this even Possible ?"

 

Yep that was the question, which was answered 5 posts later. Not sure why its dragged on to 6 pages when you had your answer so fast. Ease up on the meds lol

[newportbeachdude 10]

I currently trade with no charts. Our group focuses on CL Calendar spreads looking to scalp a few cents many many times during the day on 15-30 lots each time and maybe catch a 7-20 tick directional move. CL calendar spreads are great to trade as its really about price action.

[evroom1 10]

newportbeachdude I truly thank you for a normal answer. I was begining to think the question was too difficult to get straight forward answer. Your was the most interesting I recieved. I commend your group. I heard about the spreaders who work at contract rollovers but I never thought to apply it on a regular basis. Well done.

[BlowFish 10]

@newportbeechdude Do you have double the trouble with slippage on spreads? Slippage, spread (bid/ask) and fees are the curse of scalpers. I guess you must use market orders to ensure both legs are filled? I suppose you can set your order entry software with limit on the first leg and trigger a market order on the other.

 

@evroom1 are you still following the original guy?

[Eleventrader 10]

Well, I agree, it's great idea. Thank you.

[evroom1 10]

Blow at the risk of having my head chopped off in this forum. I am till following that guy. No strings no charge, only examples by which he expects you to learn yourself. He is the best I have ever seen. No body on this site comes remotely close. I should have framed my question " How do you trade JUST USING the dom" And maybe this would have gone alot better.

[TheDude 10]

evroom1 - for someone who knows very little, you have one hell of an attitude towards people who are trying to help you.

 

If you get so upset with people because they can't answer your unclear questions, I'd hate to see the temper you get in to when you actually start trading. If I were you, I'd buy about 10 monitors, 20 mice, and a few chairs for your office because you'll probably get through them quite quickly.

 

Here's a tip for your trading plan: don't keep any crockery near your computer!

 

 

Now for some more advise: stop trying to get short cuts. The type of trading you are trying to get a grip on is scalping. To do this you MUST be in a professional environment as you NEED low costs, ie not a retail broker. It's very intuitive, so not something you can read in a book or watch a video on. You may get a few pointers, but knowing you, you will p!ss anyone off who does try and help. Screen time and effort will be your (only) friends.

 

Good luck - you'll need it!

[Kiwi 16]

.... I am till following that guy. .... .... He is the best I have ever seen. No body on this site comes remotely close. .....

 

Ignoring the spelling - this is the funniest contribution to the thread yet. :helloooo:

[evroom1 10]

I knew this reply would bring out the people with chips on their shoulders. The cry babies, the trading misfits who bully without contributing a single thing to the discussion.

 

And Sir Kiwi my guess is you cannot trade. Traders that can trade don't get upset at comments like mine. LOL

 

Please help me and direct me to the place where I can end this thread.

 

LOL LOL LOL

[Kiwi 16]

.... I am till following that guy. .... .... He is the best I have ever seen. No body on this site comes remotely close. .....

 

Ignoring the spelling - this is the funniest contribution to the thread yet. :helloooo:

 

 

Amused maybe, upset, nahh. Perhaps you were looking in a mirror for that entire post? That's a lot of LOLs from a poor bullied unhappy guy.

[MightyMouse 12]

I knew this reply would bring out the people with chips on their shoulders. The cry babies, the trading misfits who bully without contributing a single thing to the discussion.

 

And Sir Kiwi my guess is you cannot trade. Traders that can trade don't get upset at comments like mine. LOL

 

Please help me and direct me to the place where I can end this thread.

 

LOL LOL LOL

I think an analogous question to your original question would be something akin to asking if someone could drive with one eye.

 

The answer to that question is yes.

 

If, instead, you ask the question: can someone drive better with one eye? Then, the answer is no.

 

Are there some guys who can drive better with one eye than others can with 2? yes.

 

Odds are the best drivers drive with 2 eyes.

 

Your buddy who only trades with the DOM is probably only telling you half the story. The good half. But, I am sure he makes millions and millions.

[evroom1 10]

Some people are smarter and better than others . Mighty you fit there. Thanks

[emg 12]

anything is possible to trade. there are lots of people use charts to trade or dom only, or by word of mouth.

[evroom1 10]

Hi EMG thanks for responding. I get trading with charts and even word of mouth. But how do you trade just using the DOM and nothing else?

 

MightyMouse gave what may turn out to be the most correct answer.

However if you ever get a chance to sit with or watch a trader who just uses numbers do so. It will make you a better trader.

 

Aside from the naysayers misfits and traders with blinders on, The search has been very rewarding.

[TheDude 10]

Why dont you ask you're buddy who you allows you to sit with? After all, as you say, he's far better than anyone on this thread.

 

Besides, I've already told you what to do and how it is done. You seem to be wanting an instruction manual. If that were possible, trading would be easy, and any dumb-ass would be able to make a mint - including you.

[evroom1 10]

I was trying to remember what advise the Dud sry I meant Dude gave me. So I looked. I found that I purposely ingored it as not being useful. The Dude appears to be a want a be trader that only gives comments that make himself feel better. I await his next assinine comments to see much further this thread can sink into the pit.

[BlowFish 10]

But how do you trade just using the DOM and nothing else?

 

 

Some people trade without even that, they simple trade from keeping an eye on what the price is and what it was!

[Lazarus 10]

Some people trade soley from the simplest spreadsheet you could imagine

[newportbeachdude 10]

There is no slippage on the bid/ask spread as there is a CL calendar spread market. One click of the button and you have the spread on at the price you wanted to buy or sell. Trading without a chart can be a blessing and a curse. Calendar spread trading does not rely much on chart trading but rather what the spot month is doing and where the real orders are in the spread market (at least when you are only trying to scalp a few cents here and there). My typical trading day is about 800-1300 lots round-turn which obviously ends up being a lot of commish. The goal is to risk 2 cents at the most in order to make 1-4 ticks many times throughout the day.

[BlowFish 10]

Just to make sure I understand correctly the spread is an instrument that trades on an exchange in it's own right. It's not a market I am familiar with I should check out it's characteristics, does it trade on Nymex? Whats the symbol?

[bathrobe 10]

Why ask this question here......,ask the guy you are appearantly standing behind. Did you see this trader on take your child to work day?

[tradingRAW 10]

Charts are lagging indicator where as tape reading leads price action.

[BlowFish 10]

Tape reading still looks at prints that occurred in the past, albeit the immediate past.