Trading with point and figure

that is why i keep on about chart reading whether its candles or p/f

many years ago i did a mr.charts one to one...i came away knowing 3/4 set ups
messed around with those for a couple of months...with out placing money
then realised...i could not read a chart
all went quickly into the trash after that


same with
fibs
pivot pints
gann
moving averages
oscillators
cycles

etc etc
these are all calculated lines/areas
market does not give a poop

p/f to some extent..the advantage is that yu are filtering the data first


so ...always have bar/candles and p/f displayed at the ame time and move between them
these are
 
dentist007 said:
the 15 by 4
i am always trying to filter the rubbish...so if 15 by 4 seems to be a decent filter...then i am on it
p/f is non time based input...not like candles and bars
p/f is objective...but if the inputs are not good ..then it will miss
Click to expand...

hence Duplessis was messing around with optimisation/arithmetical and easy ways to calculate box sizes.ie volatility based/atr and the other method/statistical.ie square root
to me that is curve fitting

a lazy way..imho


yu have to get yor hands dirty and examine each trend,especially the last 2/3
isolate each trend and change inputs...does not take long with a bit of practice


as he says ..p/f will give you more information than any other charting method...the results speak for themselves

there is nowhere that has a higher pip count than us...even star bank traders...lol
 
The Nyse chart we posted showed a wide prev supp area..i am certain that will become decent supp
dax and dow ,ftse did not show this
 
dentist007 said:
The Nyse chart we posted showed a wide prev supp area..i am certain that will become decent supp
dax and dow ,ftse did not show this
Click to expand...

so was changing inputs on dax and ftse to highlight a decent supp area
with the dax it seemed to be 15 by 4
 
by posting the NYSE chart i wanted to say that indices were not going to be a screamin short.because of that move to prev rez...so was eager to find support area on other index

so...am filtering for trends
and different inputs for supp/rez


hope that explains my logic

i am sure a 4 year old could do better
 
@dentist007 - thanks for taking the time to respond, I appreciate it.

I think that for any TA to be wholly objective it needs to be done by a computer program ...a program which has itself been written by an Artificial Intelligence :eek:

An additional question - du Plessis (and others) state that in an ideal world P&F plots would be based on tick data and as such would be the best thing since sliced bread.

For instance in a single 5 minute period/candle you may have multiple "hits" on a horizontal support/resistance supply/demand line yet a P&F plot based on 5-minute data isn't going to show the key price action at that box level... so you're missing some of the most important detail right - especially for ultra-short-term traders/scalpers?
 
f2calv said:
@dentist007 - thanks for taking the time to respond, I appreciate it.

I think that for any TA to be wholly objective it needs to be done by a computer program ...a program which has itself been written by an Artificial Intelligence :eek:

An additional question - du Plessis (and others) state that in an ideal world P&F plots would be based on tick data and as such would be the best thing since sliced bread.

For instance in a single 5 minute period/candle you may have multiple "hits" on a horizontal support/resistance supply/demand line yet a P&F plot based on 5-minute data isn't going to show the key price action at that box level... so you're missing some of the most important detail right - especially for ultra-short-term traders/scalpers?
Click to expand...



Thank you for all the questions and answers. Very enlightening and informative. (y) This is one of the best and favourite blogs on T2W imo. :)

Thinking of your comment f2calv it reminded me of this joke.

Wife says to her programmer husband, "Go to the store and buy a loaf of bread. If they have eggs, buy a dozen." Husband returns with 12 loaves of bread.

Is it not the case that based on successive big sells, algorithms can produce the collapse of the market compounding falls. Various indeces now get suspended as routine if they exceed falls above a some threshold like 3/ 5 / 7 %?

On another note, most things like programs, cars, emotions and people end up converging looking like each other. ie Word Processors have same themes. Cars all the same with four wheels, steering wheel and stick. Is it not likely that all these programs will converge and end up being configured to react the same way given the same input data?

Just wondering what the market may look like without the human element re:the moves.
 
DOW into the open

s4s5xw.gif
 
You must log in or register to reply here.

Similar threads

Michael Carr
  • Article
Equities Technical Analysis Testing Point & Figure Patterns
Replies
0
Views
4K
T2W Bot
T2W Bot
S
Point&Figure
2
Replies
39
Views
7K
subarashi
S
M
Point and Figure
Replies
2
Views
1K
Dentalfloss
Dentalfloss
A
Point and Figure box size for commodities
Replies
4
Views
4K
TWI
TWI
William Rafter
  • Article
Technical Analysis Point & Figure Gone High Tech
Replies
18
Views
9K
GruntnoWay
G
Top