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  1. H

    Learning to read Price Action with P&F Charting

    Here is a current chart of hewlett packard. If you notice there was a level 2 downtrend within this uptrend. Since we are still in an overall uptrend we would not have taken this trade, or if we had, we would have had a trailing stop on it once it reached profitablity or once the trend line...
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    Learning to read Price Action with P&F Charting

    Remember never draw a trendline until an x or o column exceeds its previous x or o column, and never take any pnf signal to enter unless that signal will become at least a level two entry.
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    Learning to read Price Action with P&F Charting

    Here is a current chart of motorola. We currently have three levels of down trends. You will very rarely ever get more than 4 or 5 levels before we have a major pullback, but needless to say these trends can last for a very long time. We basically want to stay short in this stock until the...
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    Learning to read Price Action with P&F Charting

    OK, now that we have the basics down it's time to show how to make money consistently. To make money consistently you OBVIOUSLY have to know which signals to take and which ones to let go. We have to improve our odds, and when we have a trend we have to take FULL advantage of that trend...
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    Learning to read Price Action with P&F Charting

    There really is no difference. I noticed at the end of regular trading hours investor rt has a bug at the start of new trading hours. If I would have told the chart to reload data it would be the same as yours.
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    Learning to read Price Action with P&F Charting

    Mine looks the same.
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    Learning to read Price Action with P&F Charting

    I didn't even get a chance to trade today. Based on looking at the charts and where my signals would have been it looks like it would have been a good day. Oh well, there will plenty more good days. It still looks like I might not be able to trade all of next week. I've definitely let...
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    Trading e-minis with $1k starting capital

    I really wouldn't worry about people taking away your edge by knowing your strategy.
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    J Hershey really is a nutcase, his posts are long yet they say nothing

    Those extensions are the enabling portion of the system that allows three times the daily range.
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    J Hershey really is a nutcase, his posts are long yet they say nothing

    I'm serious. The old double stochastics has enabled me to develop my own fractal based SCT system. The congruences of the system are flawlessy superimposed on channelling trends which may or may not fail to traverse, but always seem to go in the direction of the trade which I may or may not be...
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    J Hershey really is a nutcase, his posts are long yet they say nothing

    I don't know what everyone is talking about. He makes perfect sense to me.:D
  12. H

    Learning to read Price Action with P&F Charting

    Things remain bullish. Today we formed a double top buy signal on the bullish percent chart which should indicate the rally has legs. I don't know how long this will last, but as long as we have this index in the "x" column you should remain in your stocks.
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    Learning to read Price Action with P&F Charting

    Thanks blackchip, that might help some people. It was an uneventful day today for me. I am so far behind on getting the company taxes to the accountant. I doubt I will be able to trade much during the next few days. I did manage to put a limit order to buy UPS at 74.15, and it got hit...
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    "What type of trader are you ?"

    I'm not so sure it's random. I just took the test three times in a row and answered with the first answer to each question. I was an administrative trader all three times.
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    Tonights Mad Money, Jim Cramer "I have let down my viewers" - show getting cancelled!

    Nobody causes you to do anything. There is no law against taking advantage of gullible people. Traders do it EVERY DAY.
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    Turning $822 into $210432 by July 18, 2008

    Look into butontrader. It can handle your trade totally.
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    Tonights Mad Money, Jim Cramer "I have let down my viewers" - show getting cancelled!

    Why does he need to be held accountable? It is YOUR choice to follow any recommendation. He doesn't have control over your account.
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    "What type of trader are you ?"

    I'm still laughing at Thermactor's post and it was 4 pages ago. I came out as an administrative trader. I need to shut down my brain because I can only follow a simple system that someone provides for me.
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    Learning to read Price Action with P&F Charting

    I have switched exclusively to high low data. My stops are always based on what it would take to turn a bullish pattern bearish or vice versa.
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    Learning to read Price Action with P&F Charting

    Good call on BBH(imo). I think you will probably have a pullback on esrx which could go all the way to 60, but it is a nice pattern as well. In terms of box counting I will tell you something I did find to be somewhat true. The horizontal count is a more conservative count, and one which I...
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