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FOREX POINT AND FIGURE
CODE: FOREX POINT AND FIGURE
www.forexpointandfigure.com
Indicator+modif (mq4) + manual
ATTENTION TRADERS: If you're sick and tired of losing money in the markets, then allow me to offer you an alternative that actually works!
When It Comes To Market Data,
Sometimes LESS Is MORE...Part of the original appeal of the point & figure method was that it made it easy for traders (before the age of computers) to maintain a large collection of data without becoming overwhelmed.
And if you think about it, it makes perfect sense…
Since point & figure charts only tracked the major movements rather than specific closing prices at specific times, data could be condensed into much more manageable sizes.
Just try to imagine what it would be like to track even one stock on a minute or even 30-minute basis before computers. It would be almost impossible!
Now try to imagine tracking 50 stocks over the same period of time…
…that truly is impossible!
But by filtering out the insignificant moves, traders could now analyze over 50 charts in a day with just a few pages of graph paper and a pencil! And as a side benefit, the picks they made were actually MORE ACCURATE and MORE PROFITABLE because they weren’t distracted by the “false reversals” or enticed to jump into “sideways markets”.
Thanks to the beauty and simplicity of the Point & Figure system, all this “noise” was filtered out automatically!
For example, look at these two charts for the exact same currency pair during the exact same block of time...
GPB/USD on a Standard Candlestick Chart: 9/24/07 - 10/22/07
GPB/USD on a Point & Figure Chart: 9/24/07 - 10/22/07
Yes, believe it or not these charts are reflecting the exact same time period for the exact same currency pair, but as you can see the Point & Figure chart has significantly less data.
That’s because there is no set amount of time for each “box”. If nothing major happens on a trading day (which was the case in the example above), then Point & Figure charting filters out the “noise” and only records the larger moves.
Also, once you understand the sixteen (16) Point & Figure box patterns (and don't worry...I'll teach you what they are), you’ll be able to tell at a glance that this is NOT a time you would want to be trading. On the standard candlestick chart, however, this is far less clear, which could lead even experienced traders to chase false breakouts and reversals.
I’ll discuss the “boxes” and “patterns” in greater depth later on in this report, but for now just know that they only appear when the price moves a pre-determined amount. If the value of the currency pair doesn’t change (or if it only changes a very small amount), no new markings, or “noise” appears on the chart like they would with other charting methods.
There are several unique aspects to a Point & Figure chart that also makes it a very beneficial system to use. Three of the main ones are:
- They have simple, easy to understand, and well-defined trading rules. This removes the “human element” to a large degree, which helps to eliminate bad trades…
- They eliminate the clutter and “noise” of price changes that are so small they don’t affect the big picture. This allows the trader to filter all the small moves that might otherwise distract them, and focus instead on the larger trends and trend reversals…
- The chart only follows price patterns which is one of the few indicators that DOES NOT lag. This means you get to base your trading decisions on what the market is doing RIGHT NOW, not what it did in the past.
Now don’t get me wrong…I’m not saying that lagging indicators can’t also be incredibly helpful, but when compared to actual price movement there’s really no comparison.This makes trading extremely easy since the chart’s rules are simple, which means even novice traders can learn very quickly when they should buy and when they should sell. In fact, it’s probably one of the least complex systems out there, which is part of the reason it’s so effective…and profitable!
Why Point & Figure Trading
Nearly Become Extinct...Point & Figure charting has been around for a VERY long time.
Charles Dow: The same man who founder of the Dow Industrial Average and Wall Street Journal is also credited with the creation of Point & Figure Charting. In fact, most credit Charles Dow (the same "Dow" behind the "Dow Industrial Average" and founder of the Wall Stree Journal) with creating, or at the very least popularizing, this trading method.
Because of its simplicity and accuracy, Point & Figure trading flourished during the late 1800s through the 1930s.
But by the 40's and 50's, Point & Figure charts started to give way to more "fancy" and "detailed" charts (ignoring why Dow chose Point & Figure charting in the first place!)
But even though Point & Figure was less popular, the chart method were still accepted and still used by many floor traders.
And then almost overnight...
A New Technology Tricks 'Hot Shot' Traders Into Believing Nonsense.
By the 1960s, the safest and most clear cut charting strategy ever invented was virtually a dead language. Which begs the question…
Why would a charting method with such a rich history, solid fundamentals and rock-solid results fall out of the “trading consciousness”?
The answer is simple: Computers
Remember earlier how I talked about Point & Figure’s simplicity, and the advantage it gives traders by allowing them to consolidate their data into only that which is the most important?
Well once computers came onto the scene, the need to “consolidate data” diminished, and before long the advantages that Point & Figure charting offered seemed...well...passé. Almost overnight, this amazingly effective trading system went the way of green shag carpet and dark wood paneling.
In other words, it became “un-cool” to trade with Point & Figure!
Apparently the idea of landing on the moon convinced people to throw ALL 19th century trading ideas out the window. In this case, they threw the proverbial "baby out with the bathwater"...
How Point & Figure
Almost Remained Buried...
P&F's History: From Charles Dow To Jason Fielder...
1895: Charles Dow creates Point & Figure (P&F) to accurately predict trends with less noise and false predictors.
1898: P&F's first mention in print, "The Game in Wall Street and How To Play It Successfully"
1933: Victor de Villiers released the first book solely dedicated to P&F: "The Point & Figure Method of Anticipating Stock Price Movement." The 30's end up being the "Golden age" of P&F.
1940's & 50's: The popularity of P&F begins to be left behind for more complicated charting strategies.
1960: P&F is considered a dead language.
1970: Thiel And Davis demonstrate P&F's remarkable success at predicting the market from 1960-69 in commodities.
1970-2006: P&F is only practiced by veterans behind closed doors.
2007: Jason Fielder picks up Charles Dow's charting strategy and finds AMAZING success in the MOST volatile market.
To tell you this story, I need to share a little about myself...
My name is Jason Fielder and I've been a trader the better part of my adult life. Now I teach others how to duplicate my investment strategy, often creating easy-to-use indicators and trading formulas to make it as simple as possible.
I've taught and still recommend several different charting strategies, but I NEVER thought Point & Figure would make it into my portfolio.
See, Point & Figure was always one of those things you just heard about.
But I had ZERO clue people were still using the charts (much less that they were incredibly profitable!)...
...Until I overheard something that shocked me.
The rumor is that sprinkled throughout the floor of the Chicago Mercantile Exchange and the Chicago Board of Trade is an elite club of veteran traders STILL using Point & Figure charts...
...but you'd never know it. These men DO NOT advertise themselves. But I can tell you how to spot them.
- Look for stiff investors in their late 60's or early 70's... just old enough to remember Point & Figure's one-time popularity.
- Look for investors who seem to be standing by themselves, even when surrounded by people.
- And last... if you can catch a glimpse over their should at their little black flip books, you might sneak a peak of hand drawn Point & Figure charts...
...but look quickly, because if they see you're looking they'll immediately snap the book shut!
Amazing! While the rest of the young investing world and I had completely written off Point & Figure without question, veterans were quietly using the charting strategy for their own financial gain. Keeping it to themselves (almost out of embarrassment) and certainly not running off to teach it at investing seminars.
This led me to wonder...
"Could Point & Figure Charting
Be Poised For A Renaissance?"Despite all my previous feelings towards Point & Figure, I was now faced with evidence that it was alive and kicking.
And if that was true, Point & Figure could likely enjoy a renaissance. Beginners would flock to it for it's simplicity. And advanced investors who know the value of an honest, noiseless charting strategy would come begging.
My mission was to find out once and for all if Point & Figure really worked as great as Charles Dow said it would. So I began digging through old books and my collection of investing strategies and techniques.
That's when I stumbled across Charles C. Thiel, Jr. and Robert E. Davis. They conducted their own experiments in 1970 to see how honest, accurate and profitable Point & Figure could be in the commodities market!
Charles Dow Used Point & Figure in the
Stock Market...But Would It Also Work in the
Commodities Market?There was good reason to believe so.
The commodities market is much more volatile than the stock market... and that's exactly what Point & Figure is so great at tracking: Huge movements!
Many people are afraid of volatility, but I go LOOKING for it. After all, if the market doesn't move, you can't make money.
Thiel and Davis' results in the volatile commodities market amazed them.
They found that Point & Figure charts were just as effective or more so for discovering breakouts, riding trends and making clear cut decisions.
Point & Figure Works Best
In Volatile MarketsEncouraged by their results with Point & Figure in the volatile Commodities market, they decided to try it out in an even MORE volatile market... Futures!
And they got the results they had come to expect... Point & Figure produced clear cut, accurate and profitable results in the more volatile FUTUREs market as well.
It seems the more volatile the market, the clearer and more useful Point & Figure charting becomes.
That lead me to conclude that...
Point & Figure Is Tailor Made
for the ForexAs I said earlier, I run to markets that are volatile because THAT'S where the money is made.
You need predictable movement, or what I call "Controlled Volatility" to make the big scores and maximize your profit per trade. Forex provides that Controlled Volatility.
If Thiel and Davis' tests were right (and I had convincing evidence they were), then Point & Figure should be a great tool for observing Controlled Volatility.
But this meant I would need to conduct my own tests. I dove deep in to Point & Figure finding out everything I could about the system: How to build the charts, what "patterns" to look for (there are 16 in all!), and when to know when to ENTER and when to EXIT.
The more I discovered about Point & Figure, the more excited I got. I was able to go back "in time" and track some of my previous trades with Point & Figure charts to see if they predicted trends accurately.
And boy did they ever!
The Buy/Sell patterns matched up almost perfectly to my past data and trades. This gave me the confidence I needed to begin forward-testing in my live account, and over time I eventually perfected the...
Forex Point & Figure Trading Formula™
After my success, I knew that if Point & Figure was going to make a renaissance, it was going to do it in Forex. My results showed me first hand that this charting system fits Forex like a glove.
It's perfect for the beginner who may have a hard time filtering out the noise of other charts. And advanced investors know from experience that the more tools to analyze a trade with, the better (especially when this tool specializes in BIG movements).
So I started compiling all the techniques I picked up from Point & Figure charting, applied them to Forex, and packaged them in a 99 page manual. It's called the "Forex Point & Figure Trading Formula" that explains in detail how to use Charles Dow's charting strategy in it's perfect market.
Here's a sample of what you'll discover inside...
"Simple" and "logical" are just two amazing characteristics of Point & Figure charts, as you'll see on page 4. How to eliminate potentially dangerous noise and "false signals" in your charting with Point & Figure charts: Pages 5-8. The secret to making sound investment decisions with data that is 100% up to date, and never lagging. (I'll explain on page 6) How Point & Figure charts accurately pinpoint support and resistance levels... two factors you need to keep a sharp eye on when getting ready to buy or sell. (Page 13) Add these Trading Rules to your P&F charts to eliminate nearly all "human errors" that lead to bad trades. The most profitable chart pattern that indicates when the market is likely to SKYROCKET past previous points of resistance (Pages 20-22). How to reasonably estimate how far the market will jump before settling down...giving you a good indicator of when to cash out. (See page 34) Highly probable indicators that a market is about to plunge south... (and why this is the second most profitable scenario in Point & Figure) ...see pages 46-54. The telltale, "set in stone" indicator it's time to move your stop loss to protect your returns. (See page 54) The Bullish Resistance Line that shows the market can't seem to stop growing! (Pages 56-60) Discover exactly when to protect your profits and guarantee you WON'T lose money on the trade with a "Breakeven stop loss" on page 62. A dead giveaway the market is likely to breakout of a BULLISH trend... DUE SOUTH. (Page 64) The simple power of the Bearish Resistance Line pattern lets you know when you might start buying a struggling currency pair because it has great odds of soaring VERY soon! (Page 84) Stop! This symmetrical pattern suggests there might be a MAJOR breakout soon. Get ready to buy. (Page 69) Even at 99 pages, "Forex Point & Figure Trading Formula" is a quick read...with full color sample charts and patterns that teach you to recognize the clear cut buy and sell indicators.
But there's more...
Forex Point & Figure PRO
Plugin Does The Charting For You...Do you want to make Point & Figure charts by hand? Yes, I realize that this is still how the "old school" pros do it on the trading floor, but I knew this wasn't something I was willing to do. That's why I had the Point & Figure PRO™ plugin created to automatically chart your trades for you.
Now the clear cut buy and sell signals will display on your screen in OBVIOUS detail...
NOTE: Point & Figure Pro™ is a custom plug-in for the MetaTrader4 platform, which
is a free, professional charting application for the Forex market. You won't need to purchase
any additional software to trade this system...everything is provided for you!There are many software charting programs out there. But very few (if any) Forex Point & Figure charting programs. It'd be easy to charge top dollar for the software alone...
...but I don't want you to have to draw P&F charts by hand so it comes as part of the "Forex Point & Figure Trading Formula" package...along with real-time instructions on how to use the charting software to trade the Forex.
Watch Over My Shoulder As I Reap
The Rewards Of Point & Figure In Forex...The manual explains everything, the software does most of the work for you... what's left?
How about step-by-step video tutorials that show you exactly how I put the pieces together? You can watch over my shoulder as I use the "Forex Point & Figure PRO" plugin to analyze trades and make sound investment decisions.
In a matter of minutes, you'll SEE how to excel with Point & Figure, the charting software and the perfect market...Forex. Check it out!
NOTE: As you can tell by all the pen marks on the video, I not only show you how I get in and out of
trades for each of the 16 Point & Figure Patterns, I also give you indepth analysis of exactly
why I'm doing what I'm doing...
Filename Filesize P___F.rar 1,590 Kb Forex_Point_and_Figure.zip 1,458 Kb
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