I've recently learned about Point and Line and would love to discuss it more.
Ignored
Not many traders have shown interest in the Point and Line Methodology.
For one thing it can become somewhat complicated because it deals with
a point and lines between those points. Gann did a bit of it....and so did
Charles Goodman. But this baby was concived by Charles Drummand.
This P&L (Point and Line) is an incubation of the Pivot Point...which is
itself a 'point and line'. The R's and S's in the Pivot...are lines running
from the High's and Low's thru the pivot...which is the 3MA of the
high, low, and close. What Drummond did was do the same with all
the time frames. I think, but not sure...Charlie D. was the one who
came up with the pivot point. Nevertheless, all of this...harks back
to Rene Descartes (1596-1650) and his "La geometrie". However,
Charlie D. had never mentioned any of this. That is the "Point and Line"
being the 'middlemen' between points and numbers. No matter how
deep you want to get into this sujbect...it is not the "Holy Grail"
that it may seem to indicate. I've been a PNL'er the past fifty years
and the market is too damn slippery to allow any formula to nail it to
the wall. Charlie D. would run the line from yesterday's low to today's
low (uptrend) and call it the '5-1'. Yesterday's High to today's High
and call it the '5-2'. Then take yesterday's Low to today"s High...
and call it the "5-9'. Now the 6's would be the lines running from
the High's and Low's of yesterday thru the "Dot".....which is the
3MA of the last 3 pivot points. So the whole 'soul' of the PNL is
this Dot...which will give the notion whether the market is above
it or below it. There is an 'envelope'...which is a moving average
of the R&S used with your Pivot Point. Only this is called '1-1'
in our PNL. So what it all amounts to is this: The Point and Line
Methodology is a stick of dynamite in the back pocket of the
Pivot Point. Now....Ya'all betta be sure ya'll know how to use it....
ya'heah? Otherwise....it'll blow your ass to kingdom come. And
even then....expect to get nailed to the cross now and then.
It's just the opposite in a downtrend. Except the '5-1' would
be below and and '5-2' above. The '5-9' is a 'criss-cross' no
matter whether in an up or downtrend.
Hello tonyj,
You have finished writing your books? Looking forward to learn more of your P&L.
Best regards.
- guandi
Ignored
No....and probably won't ever get it finished. Besides there's enough
offers of Holy Grails without one of mine clogging the toilet bowl. To
that spectre in the dark corner, "Hand over that skull....you ghoul".
No....and probably won't ever get it finished. Besides there's enough
offers of Holy Grails without one of mine clogging the toilet bowl. To
that spectre in the dark corner, "Hand over that skull....you ghoul".
Ignored
Hello tonyj,
it is a pity as i will love to read what you have learned and accumlated over the years in your trading.
