I will give you a surprise

[DanPickUp]

Hi

If you look at the pool we have in this thread, you may realize, that many of us have different knowledge on different levels. This does not mean, that each one in the next level is the same kind of trader like the other once on that level.

Many have different meanings and maybe the same system and other ones have different systems and different meanings. It is up to you, what kind of trader you want to become.

India has his own laws and rules around the trading market and I am not here to question that. I am also not here to question your knowledge about strategies, as I have been enough long in this forum.

So, if I post any thing about strategies, just notice it if you want and if you want to test any thing, you are free to do it. As simple as that. Otherwise you move on to the next post and may find there some thing which you want to spend more time on it.

I will post two more charts with P&F. Today it is a P&F chart with a one day time frame. Box and reversal sizes are the same like in the last chart. I toke away the horizontal S&R lines and show only the S&R lines in the trend.

Now try this: Print it out and cut away the black triangle which is the upper field of the Resistance and on the other side cut away the black triangle which is under Support. Put this peace of chart in front of you and place it horizontal. What do you see?

Tc and do some sport to keep your buddy in healthy conditions.

DanPickUp

 

[summasumma]

Like this????

Uploaded with ImageShack.us

 

[DanPickUp]

Hi
Thanks SS to post the peace of chart which is left after cutting away the black triangles. You may asked your self, what this little exercise is about?

It is easier for us to trade horizontal S&R lines. Many big trading companies trade mostly only horizontal lines. Why? Because it is easier and many of these traders only know how to go a future long or short.

I have worked with fund managers, which had no clue about any special hedge strategies. They only went short or long the whole days, sitting in front of there screens and wait for a signal from there system.

What I showed in the last chart on an uptrend is more for individual traders, what not means, that they not can be whales. A big hedge fund company is like a factory. There are traders which do some simple systems and the better and more experienced once do have other products they manage.

Such products are some times not available for the public. So, if some one says I work in a hedge fund company that does not mean, that he is a great trader, even if he can play with a few million USD. He may is only one of them, which do trade an automated system and beside that has no ideas about any advanced way of trading.

Coming back to the last chart: If we trade such pictures, we really have to adjust our trading style, even it is clearly only range trading. But as the market moves inclined, it makes it more difficult to trade it. It is each ones personal choice, what he likes to trade with his knowledge.

I gave you now ideas on different time frames. The ranges always have been there. If we BELIEVE in what we trade and use for our trading, we will become successful with what we use for our trading. We then will trade it to the best possible way and we will become successful with the tools we use.

It is our: I BELIEVE IN MY TOOLS AND KNOWLEDGE, which can make us successful traders and nothing else.

The next chart will give you an idea that P&F also works on a short time frame. It is a Chart with a 15 min time frame on the JYE/USD.

And here just some thing to remember you, that your brain tells you what you see and not your eyes.

Tc and do some sport to keep your buddy in healthy conditions.

DanPickUp

 

[oilman5]

a nice thread on p&f.thanks to dan,linkon,aw10.
...............................................................
p&f is good to see pure price action.Very strong S/R based trader use only 2action .....
sell at known resistance or breakdown of support. BUY at known support or break out of resistance.
Both can be seen clearly in weekly chart , can u know easily known resistance/support?
Now u know the set up, just simply switch to hr-chart........p & f.......of same thing. pl trade directionally on those known support/resistance .
Key thing it gives high accuracy trade.
FOR CRITIQUE : u dont have to learn it , u may be already doing it from candlestick/line chart............if u have +ive return system ,dont bother for p&f. Learn pivot.......MOB
regards

 

[DanPickUp]

Oilman5

Did you use your brain when you wrote your last post ?

Specially your last line.

You never ever traded successfully P&F, other wise you would not write such rubbish. And you know exactly what I mean with that.

You made me really angry with the rubbish you posted.

Do not post again such rubbish in this thread

Thank you

 

[EagleOne]

Oilman5

Did you use your brain when you wrote your last post ?

Specially your last line.

You never ever traded successfully P&F, other wise you would not write such rubbish. And you know exactly what I mean with that.

You made me really angry with the rubbish you posted.

Do not post again such rubbish in this thread

Thank you

Calm down, Danny boy! TJ is bit like the world we live in; there shall always be people who would laugh at us, fight with us, disturb us or try to prove themselves right by this or that way. There is old Urdu saying: Stray dogs keep barking at the travellers, but the travellers don't stop to bark back...they move on.

Show them the middle finger and keep going. That is what I do, always!

You are doing fine job. I am impressed by your way of sharing your trading knowledge. And I'm proud of you, Danny boy, my friend!

 

[rkkarnani]

People interested about basics of PnF charts may visit :

http://www.traderji.com/technical-analysis/34059-point-figure-chart-excel-sheet.html

 

[rkkarnani]

Oilman5

Did you use your brain when you wrote your last post ?

Specially your last line.

You never ever traded successfully P&F, other wise you would not write such rubbish. And you know exactly what I mean with that.

You made me really angry with the rubbish you posted.

Do not post again such rubbish in this thread

Thank you

Dan, Oilman probably did not mean it the way you inferred it!!! Feel you reacted rather than responding!! He will probably clarify the same. Have not seen Oilman indulging into such posts hence this inference. Let us not get distracted please!!! The PnF Class is on!!

 

[EagleOne]

Hi

....
Now try this: Print it out and cut away the black triangle which is the upper field of the Resistance and on the other side cut away the black triangle which is under Support. Put this peace of chart in front of you and place it horizontal. What do you see?

DanPickUp

Just one more thing, Danny boy. I would like to know your thoughts on: Why are the trendlines on PF charts supposed to be drawn only at 45 degree angles?
Thanks

 

[DanPickUp]

Hi

Sorry, that I get a little exited and thank you to Rkkarnani and Eagle One for your kind words. Nobody perfect, include me. So, I say sorry for every not so appropriate word I used in the above post.

As I told in the past: I only show some ideas with P&F and I also told, that this is the last chart I show with that indicator. The next charts have nothing to do with that indicator, as this is not a real P&F thread.

If some one likes this indicator, he can use it and test and if some one not likes this indicator, he can move on to other post and find maybe there some thing in which he is more interested in.

What I not want here: People which tell other people not to use some of that or that for what ever reason. Ecately such kind of person make other persons unsure about what they should use. If some body want to criticize for what ever reason, he is very welcome to show other stuff, so we all can maybe see some new ideas to trade with.

Eeagle One, I not really know what you mean, but in Gann theory, the up or down trend is in healthy condition when it is in a 45 degree angles. There is no rule known to me, that trend lines in P&F must be at 45 degree angles.

Tc and do some sport to keep your buddy in healthy conditions.

DanPickUp