Anyone here trading WITHOUT candlesticks?

[ilearn2t]

Hello KKurt

All my trading life I've used the "Line Chart" simply because all my strategies and custom indicators is based around the "Close" of a given bar period.

My latest formula:

This trading strategy involves using the EUR/USD, GBP/USD, and AUD/USD as a form of hedging one off the other if all goes wrong, so no losing StopLoss is ever needed.

I like to set a manual "guaranteed" StopLoss at 5 pips (profit) then use my (15) TrailingStop to hunt out any extra points I might get.

To achieve my goals, I allow my order/s to increase by 15 pips (4 digit platform) and set my StopLoss at the minimum level of 5 pips.

It also involves setting a High & Low range finding the center point and placing orders within a given range of "center", below "center" its Buy, above "center" its Sell.

I allow 20 pips from center on a $15 capital, but best to work of your own money management program.

Allowing a loss of 50 pips before adding same type order to same pair taking between 5 - 10 pip profit.

To date I've amassed 1230 pips in about 4 weeks, but with running orders its around 900 true pips profit.

High risk, but l stick to the golden rule, "only trade with what you can afford to lose"

I don't use Bollinger bands nor Fibonacci in this one, but the "Daily" chart is used when I need to adjust my given High, Low and center range.

Good luck
ilearn2t

 

[perryfx]

Hello KKurt

All my trading life I've used the "Line Chart" simply because all my strategies and custom indicators is based around the "Close" of a given bar period.

My latest formula:

This trading strategy involves using the EUR/USD, GBP/USD, and AUD/USD as a form of hedging one off the other if all goes wrong, so no losing StopLoss is ever needed.

I like to set a manual "guaranteed" StopLoss at 5 pips (profit) then use my (15) TrailingStop to hunt out any extra points I might get.

To achieve my goals, I allow my order/s to increase by 15 pips (4 digit platform) and set my StopLoss at the minimum level of 5 pips.

It also involves setting a High & Low range finding the center point and placing orders within a given range of "center", below "center" its Buy, above "center" its Sell.

I allow 20 pips from center on a $15 capital, but best to work of your own money management program.

Allowing a loss of 50 pips before adding same type order to same pair taking between 5 - 10 pip profit.

To date I've amassed 1230 pips in about 4 weeks, but with running orders its around 900 true pips profit.

High risk, but l stick to the golden rule, "only trade with what you can afford to lose"

I don't use Bollinger bands nor Fibonacci in this one, but the "Daily" chart is used when I need to adjust my given High, Low and center range.

Good luck
ilearn2t

Very interesting method

 

[montagu]

Of course it is possible to trade without candlesticks. A trader can choose to use Line charts or Bar charts.

I do not know of any secret trading method. I think all trading methods are good as long as you put it in the right context and executed at the right time.

Stop looking for secret trading method or the 'holy grail' to trading profitability, it does not exist. What is more important is to have your trading plan in place. It will guide you on how to approach and trade the market.

Absolutely! Agree with you.

 

[EL DIABLO]

I don't believe in the holy grail either. When there's a winner, there's a loser at the same time in the forex trading biz.

Mind share your trading plan?

Of course it is possible to trade without candlesticks. A trader can choose to use Line charts or Bar charts.

I do not know of any secret trading method. I think all trading methods are good as long as you put it in the right context and executed at the right time.

Stop looking for secret trading method or the 'holy grail' to trading profitability, it does not exist. What is more important is to have your trading plan in place. It will guide you on how to approach and trade the market.

 

[uwei]

Trading plan

I don't believe in the holy grail either. When there's a winner, there's a loser at the same time in the forex trading biz.

Mind share your trading plan?

A trading plan should include, but is not limited, to the following:

1. A daily trading routine
2. Sources for market news and events for an overall market view, to form a fundamental analysis
3. Chart time frame for analysis and time frame for entries and exits, to form a technical analysis
4. Entry and exit criteria
5. Market conditions to trade in, e.g., trending market, ranging market, significant news events
6. Trading strategies for the above market conditions
7. Currency pairs to trade and pairs to avoid
8. Market conditions to stop trading
9. Mental conditions to stop trading
10. Amount to risk per trade – i.e., money management

 

[PhatRoyale]

Quite general but I'm still giving you a free bump.

A trading plan should include, but is not limited, to the following:

1. A daily trading routine
2. Sources for market news and events for an overall market view, to form a fundamental analysis
3. Chart time frame for analysis and time frame for entries and exits, to form a technical analysis
4. Entry and exit criteria
5. Market conditions to trade in, e.g., trending market, ranging market, significant news events
6. Trading strategies for the above market conditions
7. Currency pairs to trade and pairs to avoid
8. Market conditions to stop trading
9. Mental conditions to stop trading
10. Amount to risk per trade – i.e., money management

 

[RahmanSL]

Trade without candlesticks??

I use electrical lighting....much brighter to watch those charts....and less pollution to the environment too.

 

[willforex]

Sometimes I use a bar chart. But I can't trade without candlesticks at all.

 

[duderex]

Sometimes I use line chart, but I prefer more with candle sticks. It is easier to read.

 

[FringFX]

Sometimes I use a bar chart. But I can't trade without candlesticks at all.

me too. i use both