MightyOne wrote:A set of paper charts, delivered each week, of the daily weekly & monthly charts, stick-it notes, a red pen (because the charts were black), & a phone is all that I had to trade with back in the day.
My intraday chart was calling the broker every 30 minutes for quotes; based on the closed candle & what price was doing during the day is
how I managed open trades.
At the end of the day I would call the broker to update the daily charts; I am sure that he could have faxed me the information, but I think
that he liked chatting with me
There were no thoughts of ticks, I risked so many "lines", I targeted so many lines, & I had 4+ month OTM options as a hedge; the price of which was so many lines or "linelettes" of added risk (later I would cut outrights out completely, but that is another story).
People always ask how trading can be easy, but when you tell them they always say "no, no, no, I need $1,000,000 by tomorrow morning, how can I do that?"
And price will easily get to my entry @arrow, plus a few pips where I will make $4.