This study investigated differences between two approaches to chained equipercentile (CE) equating (one- and bi-direction CE equating) in nearly equal groups and relatively unequal groups. In one-direction CE equating, the new form is linked to the anchor in one sample of examinees and the anchor is linked to the reference form in the other sample. In bi-direction CE equating, the anchor is linked to the new form in one sample of examinees and to the reference form in the other sample. The two approaches were evaluated in comparison to a criterion equating function (i.e., equivalent groups equating) using indexes such as root expected squared difference, bias, standard error of equating, root mean squared error, and number of gaps and bumps. The overall results across the equating situations suggested that the two CE equating approaches produced very similar results, whereas the bi-direction results were slightly less erratic, smoother (i.e., fewer gaps and bumps), usually closer to the criterion function, and also less variable. (Contains 7 figures, 10 tables and 3 notes.)