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Intraday Point and Figure Trading

  • #221
  • Dec 11, 2010 10:34am Dec 11, 2010 10:34am
Sagad.

Do you have above mentioned book in PDF format to share?
If so, can you send it to my email?
  • #222
  • Dec 12, 2010 5:43pm Dec 12, 2010 5:43pm
Quoting Freddyfx
Sagad.

Do you have above mentioned book in PDF format to share?
If so, can you send it to my email?
freddy,

just google "Phantom of the Pits"

its readily available...

sagad
  • #223
  • Dec 14, 2010 2:27am Dec 14, 2010 2:27am
i emailed tom dorsey lately asking for his opinion re applicability of pnf to forex...

"They work perfectly on forex as they do on stocks or anything else that has a price. Since forex gives us continual pricing data we can chart it just like a stock. Take for instance the Japanese Yen U.S. Dollar cross the chart looks like below. What this shows me is the long term trend has been broken and the only trade on this cross is short. Never long when the trend is down. You could cross the name out on the chart and say it's IBM what do you want to do, the answer is
sell short, hedge positions by buying puts, sell calls, sell calls - buy puts, sell short against the box, buy puts for spec. trade, sell calls naked. These are the right answers for a chart like this if it were IBM. In FOREX there are forex options that allow you to skew a trade in your favor. You might consider selling the cross short and simultaneously selling an at the money put. This would be similar to simply selling a call naked. I find http://www.oneworldbroker.com/web/owb-en_gb/home one of the best places to trade forex with minimum of 300 Euros to open an account. Tom"
  • #224
  • Dec 14, 2010 2:57am Dec 14, 2010 2:57am
Quoting Sagad
i emailed tom dorsey lately asking for his opinion re applicability of pnf to forex...

"They work perfectly on forex as they do on stocks or anything else...
Wow. Good one, thx Sagad!
Thank you Crucial Point, Bleek, Trizzle, Darkstar
  • #225
  • Dec 15, 2010 4:21am Dec 15, 2010 4:21am
Quoting Sagad
i emailed tom dorsey lately asking for his opinion re applicability of pnf to forex...

"They work perfectly on forex as they do on stocks or anything else...

Nice information! thanks a bunch!
  • #226
  • Dec 15, 2010 5:56am Dec 15, 2010 5:56am
I subscribe to Dorsey Wright and use their PnF for Forex. Unfortunately they do not update in real-time which is what I'm really looking for. PnF is very powerful ...
  • #227
  • Dec 15, 2010 8:35pm Dec 15, 2010 8:35pm
do u guys know hoe the indicator FXI adv operate?

do they use close or high/low data?
  • #228
  • Dec 15, 2010 8:41pm Dec 15, 2010 8:41pm
Quoting SMcGuire45
I subscribe to Dorsey Wright and use their PnF for Forex. Unfortunately they do not update in real-time which is what I'm really looking for. PnF is very powerful ...
would u care to elaborate? ur statement "PnF is very powerful"

any additional insight about pnf would be appreciated...
  • #229
  • Dec 16, 2010 12:01am Dec 16, 2010 12:01am
Quoting Sagad
do u guys know hoe the indicator FXI adv operate?

do they use close or high/low data?
Sagad, I just assumed it uses your broker's tick data. So the price prints a bearish breakout by even 1 tick (0.00001), a new sell box is drawn. Therefore the question of whether they use high/low is besides the point. Secondly, because it uses tick data I set all my P&F charts on 1M TF so that you get a finer (or more accurate) picture compared using it on any higher TF.

Hope that helps,
Chngster
Thank you Crucial Point, Bleek, Trizzle, Darkstar
  • #230
  • Jan 2, 2011 5:22pm Jan 2, 2011 5:22pm
Hi I'm a newcomer to FF and thought I'd introduce myself.

I have specific interests in P&F and Wyckoff/VSA. My task this year is to merge the 2 modalities in to a useable trading strategy.

For P&F I manually chart 1 hr hi/lo cable and eddie, as I take my data for VSA from e-Signal I also use this data to generate my P&F charts.

I look forward to exchanging ideas, info, strategies etc with you all

Regards

The Winkler
  • #231
  • Jan 3, 2011 3:31am Jan 3, 2011 3:31am
Hi and welcome,

You should get yourself over to vsa with malcolm as well, definitely the most active VSA thread on the site,

Hope you enjoy your stay,

Cheers,

KF
  • #232
  • Edited Jan 11, 2011 1:04am Jan 10, 2011 10:07am | Edited Jan 11, 2011 1:04am
Quoting TheWinkler
Hi I'm a newcomer to FF and thought I'd introduce myself.

I have specific interests in P&F and Wyckoff/VSA. My task this year is to merge the 2 modalities in to a useable trading strategy.

For P&F I manually chart 1 hr hi/lo cable and eddie, as I take my data for VSA from e-Signal I also use this data to generate my P&F charts.

I look forward to exchanging ideas, info, strategies etc with you all

Regards

The Winkler
Hi, coincidentally i am planning to do the same thing, i am currently using FXI Point&FIgure Adv indicator on Mt4 and i have placed it just below my candlestick chart:

http://www.forexfactory.com/attachme...&d=12946755211

many times (such as on the yellow Trendline on the above chart) i see a break to south on the PNF, at the same time i would see the price getting higher on my barchart.

also, the price level on my bar chart and pnf chart is VERY different! the above orange horizontal lines shows the price level, the barchart is at 1.31435, whereas the PNF chart price is 1.21544 during the same timing.
.. its really confusing..
if someone can point me in the right direction, i'll be grateful...

---> I just realized that my chart is missing, but i guess u had understood wat i meant from my description above. Anyway, thanks Winkler for your reply below
  • #233
  • Jan 10, 2011 10:34am Jan 10, 2011 10:34am
Hi Mtm

Not too sure i can help - I hand draw my P&F charts - well not quite I use an XL spreadsheet which I fill out hourly (although I did start out manually charting and would recommend any serious P&F charter to do likewise to start with) - the problem as I can see is that P&F isn't time dependent only price dependent so there may be some kind of lag between the 2 charts, hope you get it sorted

Regards

The Winkler
  • #234
  • Jan 13, 2011 8:01am Jan 13, 2011 8:01am
Quoting KinsaleForex
If we treat 1.5360 as the bottom of the last run then using P & F on a 4hr chart this gives us an upside target of 1.5820
Mentioned this in the Cable thread on the 2nd Jan and it just hit it today.
  • #235
  • Jan 13, 2011 9:34am Jan 13, 2011 9:34am
Quoting KinsaleForex
Mentioned this in the Cable thread on the 2nd Jan and it just hit it today.
The beauty of knowing how to do these vertical counts in Point and Figure is that you don't actually need to build the P&F chart - you can just view any chart, identify the significant top or bottom and then take you point count from there to calculate the size of retracement
  • #236
  • Jan 14, 2011 10:34am Jan 14, 2011 10:34am
Quoting TheWinkler
The beauty of knowing how to do these vertical counts in Point and Figure is that you don't actually need to build the P&F chart - you can just view any chart, identify the significant top or bottom and then take you point count from there to calculate the size of retracement
hmmm... interesting position
  • #237
  • Jan 15, 2011 9:34pm Jan 15, 2011 9:34pm
Hey to all the P&F traders on this thread, I have a question about box size with 100:1 leverage.

If im using 3 point reversal and 100 to 1 leverage is 20 price points (pips) a good rule of thumb for box size?

Has anyone developed a good set of rules for box size, such as using a percentage of a pairs ATR per box?

I have been experimenting with fractions of ATR as the base for box size,but have yet to find a sweet spot so any suggestions would be much appreciated!
  • #238
  • Jan 19, 2011 4:14pm Jan 19, 2011 4:14pm
Just got my cable 1 hr hi/lo chart up to date and can see an interesting set up forming - potential for an OCO for the brave at heart - to me it looks like cable has topped out at 16050 and I've marked the vertical count and downside target at 15840 if the weakness is confirmed - first time trying to upload a picture so hope it works!
Attached Image (click to enlarge)
Click to Enlarge Name: Cable 1 hr OCO setup.JPG Size: 130 KB
  • #239
  • Jan 20, 2011 10:04am Jan 20, 2011 10:04am
Following my post yesterday I note that cable (GBPUSD) has hit the target from the downside vertical point count on my chart.
  • #240
  • Jan 21, 2011 2:26am Jan 21, 2011 2:26am
TheWinkler have you captured the blue resistance line? )
Attached Image
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