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Trading without chart is possible. It is just the way you choose you want to do it.
Example one:
I do not know about how to trade the dom or price ladder. I can remember in the past I was once in contact with a trading company which was some how involved with such kind of trading in the share market. If now only dom or price ladder I can't remember, but it was just a game of seconds by going in in out as many times per day as long as there was the advantage given by the numbers they saw on there screens. Special programs, not available for even most professionals. as this was in house software only for them and they made a hell of money with it.
So as long as you do not have access to such, high specialized software, you may do not touch it.
But there are other ways to do so and they are in this second example done with options.
For this you will need an in dept knowledge how this derivative works. Now you analyze the options ladder in what ever market and by understanding the matrix only with those numbers, you will be able to make trading decisions with out even analyzing a chart.
Still: I recommend to use a chart to have at least some kind of a visual idea from it and on what level markets are trading.
Sure there are more ways to trade with low chart using, but this two ways are just my experience.
I haven't posted here in a long time, but the email blast on this one caught my eye because I realized that I actually don't trade from or with charts anymore at all.
This will sound schilly but it's my two cents; over the last year, I have been using Option Alphas platform, and that has shifted my focus away from charts and more to neutral-based strategies. I still use Daily charts as a reference point for what happened from a higher-level point of view, but my days of looking at minute charts to try and trade directionally are officially over.
Maybe the two are unrelated, but FWIW I've never traded better.
I don’t trade with charts. Too many screens for my eyes to scan already so can not occupy my eyes on the chart. I only have 3 screens and I don’t trade many tickers though, mainly just index so I can draw the chart in my head based on the action price.
Trading: Futures VX ES CL GC SI ect , STOCK and Index Options
Posts: 34 since Nov 2020
Thanks Given: 14
Thanks Received: 28
When you do not use a chart what is important? I only need to know 2 variables . Level of volatility and if the current time a meanreverting period or trending period
I have tested this quite a bit and tend to agree with Blackgrey45. Showing this is true is one of the few things commercial trading software is good for. I'd definitely be interested in a coherent disproof.
Yes, possible, Charts have to be used for reference only for plan, but execution for me is all Auction Theory based, interaction between buyers and sellers and relative volume. #MarketProfile #AuctionTheory. #OrderFlow
The original question- can a chart hinder performance ..........?
From how I trade, the chart is nothing more then a graphical representation of the numbers, you can visually see changes in the numbers from the chart or use a formula to purely compare the raw numbers.
I can't see how it would hinder anyone ..............
The chart is made up of the numbers ........ and the numbers are displayed on the chart. If you see something on the chart, a pattern, it can be seen in the numbers that made up the chart in the first place.
Yes, Charts when used for execution hinder performance as charts are backward looking.
Charts do not give information on the internals with a bar on a chart of how the buyers and sellers are interacting.
Charts tend to provide bias more often than not due to their historical nature.
Charts however provide a path of least resistance but cannot help with FOMO and BTFD.
I like a reason to trade. While the past is interesting to view - ah look at that reversal, look at that pull back, shoulda woulda coulda done great if I got in there. Trading from the Chart it is not based on what is happening right now. Therefore I view Charts as always lagging and trading from them turns into a probabilities game with the odds in the houses' favor. I'd rather see what's happening now - momentum, pace, trade size, volume, bid traded volume, ask traded volume, bid booked volume, ask booked volume and make a judgment call based on that current data. It's kind of like crossing a road. I could map the traffic on a road based on time and use that data to select a time to cross the road, just go for it at the suggested time. I'd much rather look both ways at any given time, observe the current traffic, pace, number of cars, etc... and use that current information to decide if it is a good time to cross the road or not. The DOM offers such in the now details whereas, for the most part, charts only show past history, which many times presents a bias that is incorrect and/or most likely taken advantage of by smart money.
