A month back I met a swing trader who uses plain line charts( on closing price) with volumes and no indicators at all; his reasoning been that line chart gives the best view of 'flow', pivots, and patterns. He trades metals and crude on MCX. I was struck, for I could see him pulling good money consistently out of the markets. Of course he's a good friend now.
Also I am reminded of a acquaintance who's been trading nifty futures intraday for years sitting by a quote machine and making money consistently without ever learning a single word of technical jargon.
Haha... they're a kinda shame to people doing research in 100 candlestick patterns, ichomoku, equivolumes, points & figures etc. etc.
Sunday, January 14, 2007
Simple Line Chart With No Indicators
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2 comments:
Yes. It has been possible for me to find theoretically when the prices are going to spike. What is needed is a candelstick chart and volume. I will apply my theory now in the market.
Hey, I am just an amateur trader. Let me see if I am able to make money. :)
Good for people to know.
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