How to be a MOnster

[MightyOne]

I think i need to read something about P&F before I start learning the Big Road Oscillator
I don't get this (I'm sorry, this could be a language problem):

"For the chart above I used HI/LO ..."

Are you referring to the datas you're picking to draw your chart?

Thank you MO

HI/LO is a method used to select a single price, the high or the low, to plot a P&F chart; if you were plotting 'x' then you continue to use the high price if you can do so & if you can't plot a new 'x' then you check the low to see if any 'o' can be marked.

For most chartists, an 'x' is a single price but for me it is the area that is between two prices; what I get when I do this is a 2-box reversal chart in the form of a 1-box reversal chart.

A '2-box reversal' simply means that there must be two 'o' before we can begin to mark a new column; xxxxx + o, the 'o' is ignored, xxxxx + oo, a new column is made for 'o' and both 'o' are marked. 'In the form of a 1-box reversal' means that xxxxx + oo results in a new column in which a single 'o' is marked (you can only do this if each mark represents and area).

A little complicated, I know, so let's start with the basics: 'closing areas':

I have marked the 'classic' way of using closing prices, in yellow; each mark is a specific price and marks are made when there is a close over, according to the reversal rules.
The way that I do it is just as easy, I make marks based on the area in which price closes:

P&F_101.png (13.05 KiB) Viewed 2636 times

[MightyOne]

P&F with more 'advanced' rules:
(SEE LAST POST)

P&F_102.png (27.01 KiB) Viewed 2633 times

[MightyOne]

Thanks MO!

I'm trying to grasp your words.. so, basically, patterns happen around large candles closes?
And is this because price could only continue in the previous direction or reverse?

Thank you for your position sizing tips too.. I'd like to use fantasy along with your teachings to build something that could raise my confidence (and profits).

Judge for yourself, Mira.

It is good to ask questions and to think.

As far as fantasy is concerned...
One person believes that everything is going to be ok where as the other person believes that they are going to die, if the result is the same for each then who is the winner? For the positive person it was peace leading to greater peace, but for the negative person it was worry and death or a life full of worry.

A positive mind has positive momentum bars built into its very fabric.

for_Mira.png (13.78 KiB) Viewed 2617 times

[MightyOne]

Digging deeper.

The 'advanced' chart is now put into neat little columns and we construct a 'Big Road' where columns change in the same way as they do in Point & Figure but, like rain on a window, the marks are always descending.

If the column is greater in length than 7 then I would start filling in the circles, but you can also put a number below the column for the length of the 'tail' (number of marks greater than 7).

Instead of learning patterns, the Big Road uses the idea of the "catapulting row" and of opposite color breakouts:

Big Road Pattern BO.png (36.35 KiB) Viewed 2640 times

P&F_103.png (20.01 KiB) Viewed 2640 times

[Mira]

A '2-box reversal' simply means that there must be two 'o' before we can begin to mark a new column; xxxxx + o, the 'o' is ignored, xxxxx + oo, a new column is made for 'o' and both 'o' are marked. 'In the form of a 1-box reversal' means that xxxxx + oo results in a new column in which a single 'o' is marked (you can only do this if each mark represents and area).

Thank you MO!

So P&F charts are a sort of spreadsheets, an indicator?
And, on your charts, are 'x' and 'o' drawn on the bars to give a 'visual' correspondence or some other?

I'm following, not that i grasped what an entry signal is, but i'm trying to learn how to draw it first

X(6), O(1), X(2), O(9), X(4), O(3), X(3), O(1), X(3) -> That could be a X(4) if we have a HH.
Is this the same representation (from first bar to the lowest low) of the chart in your P&F_102.png pic?
I'm sorry for the schoolchild's questions, thank you much!

[MightyOne]

Click the blue link for a
Point & Figure Seminar

If you can tolerate watching it at 1.25 speed then it will be over in an hour.

[Mira]

Judge for yourself, Mira.

It is good to ask questions and to think.

As far as fantasy is concerned...
One person believes that everything is going to be ok where as the other person believes that they are going to die, if the result is the same for each then who is the winner? For the positive person it was peace leading to greater peace, but for the negative person it was worry and death or a life full of worry.

A positive mind has positive momentum bars built into its very fabric.

for_Mira.png

Thank you MO!

Your chart looks like this one on GOLD.
I went long ( ) as a stupid, not seeing that we was below something and that shorts still weren't failed.

IMG_0071.PNG (56.53 KiB) Viewed 2801 times

lol I forgot the chart

[dojirock]

Judge for yourself, Mira.

It is good to ask questions and to think.

As far as fantasy is concerned...
One person believes that everything is going to be ok where as the other person believes that they are going to die, if the result is the same for each then who is the winner? For the positive person it was peace leading to greater peace, but for the negative person it was worry and death or a life full of worry.

A positive mind has positive momentum bars built into its very fabric.

for_Mira.png

Thank you MO!

Your chart looks like this one on GOLD.
I went long ( ) as a stupid, not seeing that we was below something and that shorts still weren't failed.

IMG_0071.PNG

lol I forgot the chart

2017-05-01_1513.png (96.31 KiB) Viewed 2792 times

[MightyOne]

I agree w/ doji.

[Mira]

IMG_0071.PNG

You're right, no closes above.. i had a very poor analysis.

Thanks Doji!