Point and figure chart analysis...!
- Thread starter linkon7
- Start date
Hi Sherbaaz,
Of course, i can share it ...Here is blog link of Mr.Rajiv Lochan, where in you can down load the free pnf tool and instructions...
http://niftypointandfigure.blogspot...-max=2014-01-01T00:00:00+05:30&max-results=37
Regards,
praveen
Of course, i can share it ...Here is blog link of Mr.Rajiv Lochan, where in you can down load the free pnf tool and instructions...
http://niftypointandfigure.blogspot...-max=2014-01-01T00:00:00+05:30&max-results=37
Regards,
praveen
It is not a matter of opinion whether PNF is for positional trading or not. It just is. Two things make it so. First, inbuilt S and R filtering that is most effective only with real demand and supply (not the virtual ones in intraday). Second, no time constraints (intraday trading is totally time bound).
Having said that, there is no harm in experimentation and tweaking if tweaking shows more odds to improve upon the original. Point to remember is, using a knife to unscrew a screw when a screwdriver is not available makes sense. But using a knife when all kinds of screwdrivers are available is...well, a matter of choice.
BTW, PNF on EOD or weekly do prove very effective in showing the overall trend.
Good luck. And I hope you will take this post in the right spirit.
Having said that, there is no harm in experimentation and tweaking if tweaking shows more odds to improve upon the original. Point to remember is, using a knife to unscrew a screw when a screwdriver is not available makes sense. But using a knife when all kinds of screwdrivers are available is...well, a matter of choice.
BTW, PNF on EOD or weekly do prove very effective in showing the overall trend.
Good luck. And I hope you will take this post in the right spirit.
Hi Dax Devil,
Yes, of course i will take your view point in right spirit ....having said that like all TA tools pnf is also a tool,with it's genesis on trading floor....as a pure intra day recording method of round number ticks...
Most of the people who are of the opinion that pnf is for positional trading are most probably have never tried it for intra day trading ....Have you ever tried pnf for intra day trading? Most probably you have not....
Please experiment in your free time with it ...if you are really interested how it works in intra day...then come to a conclusion....
Most of the TA followers believe in fractals...if it shows support , resistance demand supply levels clearly in Weekly time frame ...the same thing should work in intra day too...The only difference is box size...we should use smaller box sizes than daily or weekly charts for intra day trading....
please go through the following chart ...of 23rd september intraday chart of NFSEP24 ...see how beautifully pnf kept you in the trade till the end...
http://screencast.com/t/qkaR889yop
Have a nice weekend..
Yes, of course i will take your view point in right spirit ....having said that like all TA tools pnf is also a tool,with it's genesis on trading floor....as a pure intra day recording method of round number ticks...
Most of the people who are of the opinion that pnf is for positional trading are most probably have never tried it for intra day trading ....Have you ever tried pnf for intra day trading? Most probably you have not....
Please experiment in your free time with it ...if you are really interested how it works in intra day...then come to a conclusion....
Most of the TA followers believe in fractals...if it shows support , resistance demand supply levels clearly in Weekly time frame ...the same thing should work in intra day too...The only difference is box size...we should use smaller box sizes than daily or weekly charts for intra day trading....
please go through the following chart ...of 23rd september intraday chart of NFSEP24 ...see how beautifully pnf kept you in the trade till the end...
http://screencast.com/t/qkaR889yop
Have a nice weekend..
I have tried it, friend, otherwise I wouldn't open my mouth. I only use it while trading stocks (not index) positionally. Its use with intraday data, however in my trading, has never been as effective as I want my trading tool to be.
I take trading business quite seriously, particularly the intraday trading. Little slippages, early exits or late entries are just no no for me. Thankfully I have my own set of precise trading tools to deal with them, so it is ok. However, if PNF works for you, then great. Main thing is, profit. Any whichway it comes from.
You too have a Nice weekend. Take care.
I take trading business quite seriously, particularly the intraday trading. Little slippages, early exits or late entries are just no no for me. Thankfully I have my own set of precise trading tools to deal with them, so it is ok. However, if PNF works for you, then great. Main thing is, profit. Any whichway it comes from.
You too have a Nice weekend. Take care.
| Thread starter | Similar threads | Forum | Replies | Date |
|---|---|---|---|---|
| D | Technical analysis Screener for point and figure chart | Day Trading | 1 | |
| H | why point and figure charting is not famous ? | Advanced Trading Strategies | 1 | |
| E | Point & Figure Charts | Technical Analysis | 7 | |
| S | which is the best software for Point&Figure chart | Software | 1 | |
|
point and figure charting | Technical Analysis | 18 |
Similar threads
-
Technical analysis Screener for point and figure chart
- Started by dilipvokkaliga
- Replies: 1
-
why point and figure charting is not famous ?
- Started by hariom5109
- Replies: 1
-
-
-