Trading with Point and Figure

EURUSD

Hi

Yes nice patterns..

Have you come up with an exit plan yet..based on the P&F charts

Something I am playing will is...first I am using 15pips box size and a 2 box reversal.

So I am trying out if after entry I get 2 further boxes printed I will exit on a 3 box printed reversal.
If I don't those 2 further boxes printed after entry then I exit on the 2 box reversal.

These are just ideas I am working with....and did apply to that last trade. which was a loss.
.
And P&F is still going to get hit with data release spikes...nothing much can be done about that

Hi..

well based on the exit rules i am trying out..

Took 2 losses today....but the idea is to try keep the losses small...while giving the trade a chance to run.

I'm long from 207.....

Hi..

Metatsock..

What sort of stops are you using in that trade....

My next go at a long will be around 207.30.... and there is a possible short set-up also for me but that is a way off as for as price is concerned.

Hi, i set my S&R....
regards

Hi....


This was the latest trade..

hi...

More entries today...both I missed was asleep.

Maybe taking profit at 40-50pips may be the go.

hi..

Possible entry ...but careful as this is around the London opening time. And there is a possible short also if it turns down..
I took the entry as to test out the system but again got whipped in the UK news session...from here on I don't think i will trade the times around 8:00am UK time.

Hi..

Taken another trade and exited...waiting for another as there does seem to be plenty of opportunities during a day.. each trade taken on its own merit.

Hi...


Seems todays trading is just spike after spike after spike...with a 30-50pip pullback on each.

And then we get another 30+ spike and pull-back...

Typical NFP day

Hi..


ok ... a possible trade entry for today

Still looking for a decent stop loss idea to keep losses small as possible but still obtain a potential target of around 50pips..

In this trade the initial stop is level with the bottom of the last column on "o" bar

Stopped out on that one...typical UK session start...take it up then reverse it.

Hi angler

Shouldnt the stop be at or below the next sell / buy level ie a box below what is shown on your chart that is what I use?

divad

hi.

Divad...

Well maybe, but still looking for a way to keep those losses down in a choppy market.

And this trade it would not have mattered it still would have been taken out, but going back looking at the chart over a week or so it would have been safe a very large % of the time.

How about posting some charts...with trades Divad.. I would be interested

USDJPY

Attached is a P&F indicator for MT4 that I'm developing. It may be a bit rough around the edges at this point - I'm still working on it.

I am testing your indicator using box size 5 and reverse 3
on a 5min. chart
thank you for sharing your indicator

Hi...

Asked this same question of one of the guys...

I have not checked out this P&F for MT4....but does it work off the tick data..

If the chart does not move up and down as the market moves...you will miss trades.

Because as far as I know...using 5min TF.. means your P&F chart wont change till that 5min bar has completed and by that time...plenty of moves have come and gone..

Using Tick data and then adjusting box size and reversal boxes as the filter.

Small indicator change posted today - I have been watching the indicator on EurUsd H1, box 30, reversal 3. It seems to catch the big moves pretty well (along with some losers). Perhaps some sort of trailing stop would be a good addition...

Posted P&F_v2 - very minor change (post #76).

I had not considered scalping this on a M5 chart - let me know how it works out.