Could you trade successfully without candle stick charts?

[u0362565]

Hi all,

Could you trade successfully if you only had a line based chart for price?  E.g. on the IG platform you can change the type to line.  It really would undermine candlesticks if just a line showing price was as useful..  If not why does it exist.

[jlz]

You just have to look at ladder L2 tickers. There are many traders using just that, without any charts or indicators at all. Also bloomberg terminals with a flashing price showing just red or green colours.

A line-based chart would be too much for them. 

[THT]

Yep I could, I prefer bar chart though - although saying that at certain times pin bars are handy to see when they form at some levels

[bapu1]

Hi 

I  prefer candle stick . they provide proper details to me and i have been using it for sometime. personally i wouild not prefer lines . you got more winning chances in candle stick then Lines. 

[u0362565]

Is the point that a line or candle or whatever still allows you to see the overall patterns that are there? Or am I missing a bigger picture.

[THT]

9 hours ago, u0362565 said:

Is the point that a line or candle or whatever still allows you to see the overall patterns that are there? Or am I missing a bigger picture.

It all depends on how you trade - If you trade candlestick patterns then you need candle sticks shown, if you trade other formations then you need whatever displays those formations best

 

[u0362565]

Yeah I think I've developed tunnel vision when it comes to candlesticks and concentrating on what has happened in the last few units of whatever time frame and I'm not seeing other patterns that aren't trends. I read that markets only trend 30% of the time so you either need to hunt the markets for them or wait it out but struggling with patience as well.

[THT]

or set-up a scan to do all the hard work for you

Nothing is new in the world of trading, its only what you don't know - everything has been looked at, tested and is out there

The link below has tested a lot of candlestick patterns + much much more - I've not looked at it in detail for 10 years now so can't comment on its viability:

http://thepatternsite.com/

[u0362565]

Thanks THT, I feel like i'm trying to find something new or that success is hidden away by the few but actually like you say, trading has been around for a long time and everything has been done before you would assume. Will check out that link.

Cheers