The ideas that I trade by:

[MightyOne]

Why did you have to go and post a P&F chart Jala?

So far I am set on this:

1) each 'x' is the price above and below it (basically it is a two box reversal chart drawn as a one box reversal)
2) the "high/low method" is used on a 4 hour chart instead of a daily.
3) each line is the largest line spacing that you would use for that pair (roughly 16 to 24 lines per week).
4) charts are separated into weeks.

To mark a chart like this I used wingding 203, scale fixed the chart, and widened it so that the wingding would fit between the lines.

The result is pretty much the same as a time chart, you see price breaking in and out of congestion.

Does it work better for you? I don't know, that is a question that you will have to answer for yourself.

USDCNHH4.png (77.76 KiB) Viewed 3568 times

[MightyOne]

Any chart, any time frame.

EURJPYM1.png (26.44 KiB) Viewed 3528 times

[prochargedmopar]

Any chart, any time frame.

EURJPYM1.png

What the hell are you trying to do to me?

M1?!?!

[prochargedmopar]

OK,
M1 is to have a 2-3 line SL which equates to 6 pips or less.

I'm not exactly sure how to make $ off these lines if the box is the earliest possible scenario for having drawn the cone lines placed on the chart.

EarliestPossibilities.png (34.38 KiB) Viewed 3513 times

[prochargedmopar]

Let me try this one last time.

Now how can I use this to make $$?

OneLastTime.png (32.27 KiB) Viewed 3510 times

[MightyOne]

OK,
M1 is to have a 2-3 line SL which equates to 6 pips or less.

I'm not exactly sure how to make $ off these lines if the box is the earliest possible scenario for having drawn the cone lines placed on the chart.

1) You already want to go long based on H1+
2) price is above a line
3) go long...

Is price breaking lower and staying lower or did price break lower and fail to maintain lower prices?

Did you expect me to say anything different? Of course you didn't.

Stop looking at a chart like you are supposed to know what is going to happen next.

See it, trade it.
Your guess is as good as anyone else's.

[Jalarupa]

Why did you have to go and post a P&F chart Jala?

Lol, I hear you... THREAD derailed... Lol

I've found the application of cones on a P&F chart to be almost invaluable as a lot of noise gets removed and one can just focus on the levels where price hits or breaks the trend lines...

They also show BDP very nicely... So it's a ideal marriage in the end...

Are you drawing those X's by hand?

So is that a 20x1 on a normal P&F indy?

[MightyOne]

...
So is that a 20x1 on a normal P&F indy?

It is a 20x2 drawn as a 20x1.

20x1 displays congestion/stalling better than multi-box reversal charts because it has a rule that allows for 'double reversals' in the same column, allowing you to spot cones more readily.

To answer your question, you will probably have to draw it by hand.

There are only about 12 columns per week when using HIGH/LOW on a 4 hour chart so it isn't that bad (I find it relaxing).

[MightyOne]

I attached a "Renko like" picture in the above post but then I noticed an error.

One of the dangers of doing things by hand is re-doing things by hand

[v8power]

Alright since im pretty sure MO already dislikes me...

Why do I have to keep saying that everything is alright? It is like I am in a relationship

...MO was showing different trade ideas all the time and was cocky as hell then. He is more Disney and humble in his trading now...

I used to trade with a liter of rum on my desk at all times so I am sure that most people found me to be quite abrasive...I'm sure they still do.

...What about this post from MO "I have a pyramiding method by which I start by risking 4% until I increase my account by 16% and then risk 8% until one loss...

I learned that I am far more likely to reach a goal if I trade to it than if I try to trade through it.

Consistent small returns will always trump quick profits in the end.

It is not simply because "it is no longer kewl to do so" that I do not target sextillions, It is because it is an impossible goal.

If you sit down and ask yourself what number you are targeting and you plot a course to achieve that goal within a specific amount of time
then you will see that you need to risk next to nothing for even the most lofty of goals.

The closer you get to the target number the more you reduce your risk because it doesn't make sense to use the same size that you were using to target 100% of the goal for the last 25%. If after reducing your size you are pushed further from the goal then you can increase your size and brush your losses to the side but if you did not reduce your size then the goal may be greatly delayed.

There are certain things that you just cannot appreciate until the market kicks you in the balls a few times.

Forex is now a means to enrich the lives around me...

If you want to enrich lives then go to Vietnam and give $10,000 (224,000,000 Dong) to the 7 year old girl who is selling bookmarks to tourists so that her grandparents don't starve to death; it will feed her family for about 5 years.

$10,000 to an American is a brand new couch and a case of beer (my a++ thanks you...now go away!)

You nailed it,
The U.S. is a wellfare state.
Most people are like, gimme, gimme, gimme, MORE!!!
While unwilling to give anything for it.

Pro aren't you constantly asking everyone to give you more cuz you suck at trading, while unwilling to give anything for it. I hope none of your children ever have a medical condition that insurance wont cover and might die without it being paid for. But hey at least we know we have a bunch of future fast food workers with all the kids you have. We know you cant afford college for them and you talk about how lazy the oldest one is (father like son). Im sure you would be on welfare if it wasn't for your wife, who financial supports your family. She is what your 3rd already. Im sure she will eventually divorce you. But at least you can always be a loser and still dick ride MO.