Forex Point and Figure System
What if you could master a 100 + a year old time-tested & proven system invented by Charles Dow himself with a modern twist so powerful it can transform you into a top-level trader in under 30 days?
Most trading methodologies use "time-related" indicators that lag behind the market. These indicators can cause even experienced traders to jump into "false moves" and chase sideways markets.
But what if there was a trading strategy that wasn't based on TIME, and instead focused solely on PRICE (the only indicator that DOESN'T LAG) and the movement of the markets?
Fortunately, there is, and it's called Point & Figure!
Point & Figure is a charting method that follows changes in prices rather than time. Most charting systems (including candlesticks, line charts, and bar charts) track values based on specific timeframes, so you can look at how values change over the course of minutes, hours, days, weeks, etc.
Point & Figure charts are very different, however, in that any column can represent any amount of time. In fact, time is completely irrelevant! If the price of the security, commodity, or currency doesn’t change, then no new markings appear on the chart.
Now I realize that this may sound strange at first, especially if all you've ever dealt with are time-based charting methods. But consider this:
If you think about it, isn't time a somewhat arbitrary way to track market movement?
Last I checked, we as traders only make money when PRICES move. The fact that an hour, day, or even week has gone by is irrelevant. The only thing that matters is PRICE MOVEMENT.
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 an extensive 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 particular times, data could be condensed into much more manageable sizes.
Just 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!
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