Trading without candles or Price line

Trading Discussion
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Hi everyone,

I know this sounds a bit unusual. But does anyone trade without candles or line/bar chart ?

On my chart, I have two MA’s and that’s all… no candles or line indicating price. However, there is a red horizontal line that indicates price on my chart, that moves up and down. So I do know where price/the market is.

I prefer to look at this horizontal line and the position of the Faster MA. I can see when price has moved up or down and if the MA is turning and crossing over.
Of course the MA is lagging behind price, but usually price has moved over the 20 MA first and then the 5 MA will then follow behind and cross over…

Sometimes the MA lines might come very close together and not cross over… so it’s not a fool proof system, but nothing is… we can win most trades but we just have to be careful and not let the losers run…

This is just my own opinion, but I thought candles etc were off putting and distracting… just to repeat there is a horizontal red line moving up and down… so I do know where price is … but this line and the position of the MA lines give me a better idea and feel for trading …

I am using 1 min and 5 min charts … I use 0.1 smallest amount / and put in several orders at a time … if it’s a busy time when the market is really mjj in bing I might open a larger 0.3 or 0.5 order

I made 196 trades on Friday
Profit was almost ¥80,000 and I think over 90% profitable trades … it’s scalping

Late Friday night the market slowed down so I am currently down ¥17,000 … so I got a bit sloppy towards the end. But even if I closed those trades it’s still very good. This is a demo acc

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The principle is fair enough - if you’re going to take entries based on the EMA cross-over you don’t need to consult where price is and where it has been - where price is is irrelevant to MA cross-overs and you can tell where price has been from the MA’s alone. I do like the impulse to simplify the charts and minimise indicators.

MA cross-overs are a poor performance strategy but probably as good as any strategy for scalping.

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What usually happens is I am in the trade before the cross over. Because the MA is lagging price has already crossed over. I trade based on the position of the MA lines and where price currently is ( the horizontal red line )

I suppose as long as it works for you, it would’ nt matter how you trade… Also I trade any pair with a nice set up… one thing I don’t like about trading is profitable trades often reverse…which is frustrating.
I am in and out fast with this strategy / will demo trade until Tuesday / hope I have the same profitability with a real account.

1 Like
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I guess on a tiny time-frame scale this is a version of momentum trading - buy when price starts to rise or the rise accelerates. Which is a variation on the theme of trend-following - when price is rising, be long.

After all, there are only two strategies - buy when price has been rising, or buy when price has been falling. Most new traders buy when price has been falling (or sell when price has been rising). We don’t see them much after that…

Good luck with your efforts.