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

  #1 (permalink)
FORT LAUDERDALE
 
Trading Experience: Intermediate
Platform: NT8/tradovate
Broker/Data: Ninja Trader
Favorite Futures: ES Emini
 
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Trading with a naked chart! Does it work?

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...


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  #2 (permalink)
Sarasota, Florida
 
Trading Experience: Beginner
Platform: TD T or Swim
Favorite Futures: ES
 
Posts: 11 since Dec 2016
Thanks: 3 given, 3 received

Me too. I am trying to just look at the price action alone with Kelter channel. Any recommendation?

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  #3 (permalink)
melbourne victoria australia
 
Trading Experience: Advanced
Platform: ninjatrader
Broker/Data: FXCM
Favorite Futures: AUS200
 
Posts: 78 since Apr 2016
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trading


Price action is the only item that matters. the market is the summation of all hopes , fears, desires and greed of its participants and that all the future expectations are discounted back into the current price. therefore Technical Analysis is really the study of the psychology of the market

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  #4 (permalink)
Lenox, Ma
 
Trading Experience: Beginner
Platform: TOS
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Damian Castilla

I felt totally defeated 3 months ago after endlessly searching for the holy grail indicator. I somehow stumbled on Damian Castilla's YouTube videos and completely changed my viewpoint, starting with a blank chart. I am three months in to my journey trading naked price action charts and for the past two I have broken even and turned a small profit. Watch Damian Castilla's video lessons. I'm certain it will help you to turn the corner into profitable territory!

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  #5 (permalink)
FORT LAUDERDALE
 
Trading Experience: Intermediate
Platform: NT8/tradovate
Broker/Data: Ninja Trader
Favorite Futures: ES Emini
 
Posts: 16 since Dec 2018
Thanks: 70 given, 18 received


mtzimmer1 View Post
I felt totally defeated 3 months ago after endlessly searching for the holy grail indicator. I somehow stumbled on Damian Castilla's YouTube videos and completely changed my viewpoint, starting with a blank chart. I am three months in to my journey trading naked price action charts and for the past two I have broken even and turned a small profit. Watch Damian Castilla's video lessons. I'm certain it will help you to turn the corner into profitable territory!



I too follow Damian, I trade using price action and market profile... works great, but still struggling with the psychology.. getting better with the new confidence I found with less clutter in my charts... now I just have to fund my account again in order to start live trading.


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  #6 (permalink)
Minneapolis
 
Trading Experience: Intermediate
Platform: Sierra Chart
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LonnieMSP's Avatar
 
Posts: 23 since May 2019
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Look into Al Brooks. Here is a link to his setup . He teaches, like a lot of other traders, that price is truth. Indicators, systems and special setups really don't exist and can distract you from whats really important: price action. Hope this was helpful. I've been learning quite a bit an use his course and books.

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  #7 (permalink)
Phoenix Arizona
 
Trading Experience: Beginner
Platform: Global Zen Trader
Broker/Data: GFF Brokers
Favorite Futures: Crude CL
 
CrudeDude's Avatar
 
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LonnieMSP View Post
Look into Al Brooks. Here is a link to his setup . He teaches, like a lot of other traders, that price is truth. Indicators, systems and special setups really don't exist and can distract you from whats really important: price action. Hope this was helpful. I've been learning quite a bit an use his course and books.



I love trading price action but I do not have a trade plan or indicators that I can follow diligently. I need something that will give me set up signals that I can execute and follow. Any suggestions?


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  #8 (permalink)
Antwerp
 
 
Posts: 419 since Jun 2016
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The trick (for me at least) is to look at areas of high probability.

Meaning areas where high volume has traded in the past, sometimes round price levels, support/resistance levels, ...
You have to be patient, chasing the price action all of the time is going to cause over trading. Waiting for areas of high probability is going to make sure that the signals you are seeing have a higher chance of succes than when you are entering in a random area that hasn't proven itself. Patience also means there will be days without any decent signals.

I myself am trading ES and NQ, all i look at are 2 price levels, the same 2 price levels every single day, nothing else. (Sometimes i add previous US sessions highs and lows to the levels i am looking at, however not often at all).
Specially the ES reacts in an extremely consistent way around those price levels almost all the time.

Find yourself such an area of high probability like i did on the indexes and only trade price action at those levels, it will become much easier. I do use market profile bars (1 minute and 5 minute) to decide where exactly my entry should be based on previous traded volume at previous traded price points around those levels i have mentioned earlier, other than that it's just candlesticks for me.

If you look closely at ES you might find what i am talking about, it repeats almost every day. I do only trade the US session but i do look at 24 hour charts.

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  #9 (permalink)
Phoenix Arizona
 
Trading Experience: Beginner
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Broker/Data: GFF Brokers
Favorite Futures: Crude CL
 
CrudeDude's Avatar
 
Posts: 86 since May 2019
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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

I know this thread is about using a naked chart, but Im wondering if it is possible to trade profitably without using a chart at all? I don't like charts and I only use a DOM window that has volume histogram along the side column.

Also I was wondering if other people pay $7.74 commish for a round turn on one contract. Im trading the CL.

Thanks for any response you may have.

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  #10 (permalink)
Antwerp
 
 
Posts: 419 since Jun 2016
Thanks: 103 given, 725 received



CrudeDude View Post
I know this thread is about using a naked chart, but Im wondering if it is possible to trade profitably without using a chart at all? I don't like charts and I only use a DOM window that has volume histogram along the side column.

Also I was wondering if other people pay $7.74 commish for a round turn on one contract. Im trading the CL.

Thanks for any response you may have.

$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.

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