No charts?
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Thread: No charts?

  1. #1
    A number of them get rich Currency Market trade styles claim that you can trade successfully without charts. Is this true or will be the no chart promise a scam?

  2. #2
    Quote Originally Posted by ;
    I try to draw my attention to the price scale on the far right edge of the chart.
    It's wonderful how this changes my view and makes the swelling
    within my brain go down!

    FXS
    Sorry, but I cant get this picture out of my head of you along with your forehead pressed against the right side of your computer screen. :

  3. #3
    The example of oil. Consider this.

    I dont exchange . However, all of us hear info all the time around Oil price, and the reasons behind the price and what the price is going to do in this or that situation.

    I will bet that on every day each one of us could be very close at guessing what the price of Oil is without even looking at a chart of it. Since.... We hear about it. Memory and economic news the time all.

    Can I go long Oil? Do ya think!!!! ??? !!!
    Just prior to the Summer vaion season starts and (did you hear that a few refineries are closed for refitting?) . Fundamental Analysis The regulation of supply and demand!!!

    Applying this thinking to Forex will be a lot harder. To start with there are two economies to think about with each pair. Second we dont hear much on routine news about it. If the Eur/Usd has been reported on broadcast news such as Oil we could exchange that pair w/o a chart.

    In my experience, the trader I know who trades this way and teaches others about this method is Dirk du Toit. He can use a chart using a grid to give reference to price, but that is it. (Will my article be removed?)

  4. #4
    A few times a post makes me think.

    Thanks!

  5. #5
    Hmmm, me thinks lots of confusion here

    the oldest traders were the chinese, who of course devised candlesticks.

    Surely they must have used some kind of charting to show the relationship of 1 candle into another.

    Now if it worked for them all these years, charts are the only real way of navigating the FX market.

    I'd hate to set out to sea wituout a chart....incase my GPS brokedown. .

  6. #6
    Sorry Sorry....it was the Japanese not the Chinese who developed candlesicks.


    Was probably thinking of my dinner tonight

  7. #7
    Was it to not track the value of rice?

  8. #8

  9. #9
    Quote Originally Posted by ;
    I personally don't use charts much at all, therefore it is possible. I really don't think anyone would have the ability to buy a system and trade the way I really do though. So it probably IS a scam...
    Me two,. . I exchanged oil for 3 month maybe not knowing for indiors and normal news printed evryday... (. . .untill I met the FF... ), now I do. . .so its potential,...

  10. #10
    When I exchange without any charts, I conseder ATR move, and if the transaction is positive or negative.

    Oil, Hmm...

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