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Trading with a naked chart! Does it work?
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Trading with a naked chart! Does it work?

  #11 (permalink)
Seattle WA/USA
 
Trading Experience: Intermediate
Platform: TradeStation
Broker/Data: TradeStation
Favorite Futures: CL, YM, ES
 
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Posts: 125 since Sep 2018
Thanks: 160 given, 339 received


Alexawl View Post
Hi,
As most of us here in this group I struggle to find a strategy that works for me. I have tried all kinds of indicators and payed thousands in different trading methodology training and over all itís all been a pretty useless or extremely overpriced for what they offered.
I did have one trainer give me some useful strategy that I have continued to used and still are working on my way to get profitable.
I have found that on the search for the holy grail of indicators, itís just doesnít exist.
Over the years and just on the past few months I found that trading on Price Action alone is more reliable than any other indicator out there...
I do still use Volume Profile to draw my levels, but I got rid of all the other nonsense that cluttered my screens...
I am still working on perfecting my new found methods, but getting there...
Now, I have started to have more winners than looser... but still need to work at it to get to a constant profitability...
Thank to Big Mike and all of you in here I have found my way... I learn more here in just a month than I ever did before...
Thank you all...


Sent using the futures.io mobile app

I traded futures decades ago (when we had to manually make our charts from WSJ info & phone orders to the broker!) and also traded Forex when it first became popular. I was not successful either time but when I started getting serious about trading futures a year ago I already knew that no "holy grail" existed. Nevertheless, I still tried a moving average cross strategy for awhile and was successful at first. That was unfortunate because that early success caused me to stubbornly stay with the strategy while I drew down my account. I finally decided that PAT was the only logical path to success and set out to learn all I could. I struggle through Al Brooks book (he may be a wizard but he's not a good writer!), read Nison's candlestick book and watched about every free YouTube video I could find. It all helped, but it wasn't until I took a relatively inexpensive course from Lance Beggs (YourTradingCoach.com) that it all began to make sense. I only went back to Live trading a few weeks ago but I am getting more consistent and confident as I go along. Still plenty to learn!!

My chart isn't "completely" naked. I do have a 20SMA to just visualize the trend and pullbacks, an ATR to keep me aware of the volatility so that I don't enter a market with more volatility than my risk amount, and I recently put a MACD at the bottom to see if it will help me monitor the momentum. However, my only trading signals are from the price action itself, not from any of the indicators.

Glad to hear you are becoming more successful and consistent. That helps keep the attitude in the right place!

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  #12 (permalink)
Legendary Market Wizard
Portland, OR
 
Trading Experience: None
 
Massive l's Avatar
 
Posts: 1,784 since Mar 2011
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I don't think it matters what you you use as long as you have a proven edge. backtested, forward tested, traded live.

I can trade a naked chart but I don't have a proven edge. It'd be guessing thinking price has a better chance of doing this than that, but I have't been able to program anything to verify it via backtest, forward test then traded live.

I use a handful or less of indicators and I've programmed each one on my own, based on what thought would give me an edge. Then I developed different strategies based on those indicators. They've shown proven edges via backtests, forward tests, and traded profitably live 4+ years. It took me 6+ years to get to that point; coding, studying, reading 30+ hours a week on top of a 40 hour work week (not even close to overexaggerating) Sleepless nights, strain on relationships, huge hits to account value, hits to psyche, etc.

Use whatever but it will take everything you have and even then you may walk away with nothing or much much less than what you started with. Be careful, drive slow.

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  #13 (permalink)
Chicago
 
Trading Experience: Beginner
Favorite Futures: MES
 
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Posts: 548 since Feb 2019
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Massive l View Post
studying, reading 30+ hours a week on top of a 40 hour work week (not even close to overexaggerating).

100% in the thick of this right now, whole-heartedly agree.

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  #14 (permalink)
Virginia Beach, VA
 
Trading Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: YM, NQ, ES
 
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Posts: 467 since Sep 2016
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In all essence, candles themselves are an indicator. However, trading a so called "Naked" chart can be done with just pure candles and the simplest form of price action, LL and LH and HH and HL. That is enough info to let you know what the market intends to work towards.

@mtzimmer1 mention Damian and without a doubt, you need to check out his channel. He is completely transparent and teaches his method for $0. You have to devote the time to learn and understand not only the market but yourself.

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  #15 (permalink)
Phoenix Arizona
 
Trading Experience: Beginner
Platform: Global Zen Trader
Broker/Data: GFF Brokers
Favorite Futures: Crude CL
 
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RDK91 View Post
$7,74 is very high, what broker are you using?

Trading without charts is possible, however very difficult to learn, certainly for fast moving instruments like CL, NQ, ...
It might be easier on instruments like ES, ZB, ZN, ...

If you are interested in learning to trade without charts based on DOM only i can recommend you to take a look at JigSawTrading. They have courses but also a lot of free video's about this subject. Also check out Axia futures on YouTube.

Thank you for the reply. I am using GFF Brokers.

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  #16 (permalink)
Phoenix Arizona
 
Trading Experience: Beginner
Platform: Global Zen Trader
Broker/Data: GFF Brokers
Favorite Futures: Crude CL
 
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Posts: 86 since May 2019
Thanks: 13 given, 73 received


RDK91 View Post
$7,74 is very high, what broker are you using?

Trading without charts is possible, however very difficult to learn, certainly for fast moving instruments like CL, NQ, ...
It might be easier on instruments like ES, ZB, ZN, ...

If you are interested in learning to trade without charts based on DOM only i can recommend you to take a look at JigSawTrading. They have courses but also a lot of free video's about this subject. Also check out Axia futures on YouTube.

Jigsaw sounds like it could be very reasonable at $1799. for the full package.

Any suggestions for acquiring a "coupon code" that can be used at checkout?

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  #17 (permalink)
Antwerp
 
 
Posts: 403 since Jun 2016
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CrudeDude View Post
Jigsaw sounds like it could be very reasonable at $1799. for the full package.

Any suggestions for acquiring a "coupon code" that can be used at checkout?

I do not use Jigsaw myself since DOM trading isn't my thing.
Before you spend the money i would suggest to check out all the free stuff you can find to see if you like it and maybe then get the course if you are still interested.

About a coupon code, maybe you can ask them for a discount, you never know.

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  #18 (permalink)
Phoenix Arizona
 
Trading Experience: Beginner
Platform: Global Zen Trader
Broker/Data: GFF Brokers
Favorite Futures: Crude CL
 
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Posts: 86 since May 2019
Thanks: 13 given, 73 received


RDK91 View Post
I do not use Jigsaw myself since DOM trading isn't my thing.

Before you spend the money i would suggest to check out all the free stuff you can find to see if you like it and maybe then get the course if you are still interested.



About a coupon code, maybe you can ask them for a discount, you never know.



Thank you for that reply, I will check out the free stuff. And for now Iím going to just keep on reading my ďtrading in the zoneĒ book and keep on working more diligently on my beliefs and my attitudes.


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  #19 (permalink)
Birmingham/UK
 
Trading Experience: Advanced
Platform: Tradestation/Prorealtime
Broker/Data: Tradestation/Interactive Brokers
Favorite Futures: Mini and micro US Indexes/ DAX/ FX/VIX/GOLD
 
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Alexawl View Post
Hi,
As most of us here in this group I struggle to find a strategy that works for me. I have tried all kinds of indicators and payed thousands in different trading methodology training and over all itís all been a pretty useless or extremely overpriced for what they offered.
I did have one trainer give me some useful strategy that I have continued to used and still are working on my way to get profitable.
I have found that on the search for the holy grail of indicators, itís just doesnít exist.
Over the years and just on the past few months I found that trading on Price Action alone is more reliable than any other indicator out there...
I do still use Volume Profile to draw my levels, but I got rid of all the other nonsense that cluttered my screens...
I am still working on perfecting my new found methods, but getting there...
Now, I have started to have more winners than looser... but still need to work at it to get to a constant profitability...
Thank to Big Mike and all of you in here I have found my way... I learn more here in just a month than I ever did before...
Thank you all...


Sent using the futures.io mobile app

Order flows, time of week/month/quarter etc. News/data/sentiment, is there an appetite for either direction? Ranges and price targets. Traps. Do you 'give a shit' if your trade wins or loses? Tiny position size and no fear. Multiple entries. Multiple timeframes and markets. Internals. Squawk. Twitter. Volume and DOM. VWAP.

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  #20 (permalink)
Phoenix Arizona
 
Trading Experience: Beginner
Platform: Global Zen Trader
Broker/Data: GFF Brokers
Favorite Futures: Crude CL
 
CrudeDude's Avatar
 
Posts: 86 since May 2019
Thanks: 13 given, 73 received



ZCars View Post
Order flows, time of week/month/quarter etc. News/data/sentiment, is there an appetite for either direction? Ranges and price targets. Traps. Do you 'give a shit' if your trade wins or loses? Tiny position size and no fear. Multiple entries. Multiple timeframes and markets. Internals. Squawk. Twitter. Volume and DOM. VWAP.



I use DOM nothing else


Sent using the futures.io mobile app

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