Learning to read Price Action with P&F Charting

Quote from dentist007:

hey osho
it is all about who is in control....bulls or bears
it is that simple
you just need the duplessis book and the bullseye software,imho...which has now been upgraded to display data in realtime from barchart.com.they have also added the facility to have multiple charts open at the same time..not sure about the new look,which seems to resemble plain excei
in my opinion you need nothing more.it does take some practice
so for $149 plus the book,you are set up
you can practice with real money on fx at $1 a pip on most platforms
data is free from freestockcharts.com,dukascopy,yahoo
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Thanks dentist for all the encouraging words. I have duplessis book and I am reading at the moment. I have an a/c with IB and to trade EUR.USD on their ideal pro is $2 per pip and I have made some trades there-though not profitable but I am coming nearer,

Who else will allow me $1 per pip?

Thanks
 
osho
my own opinion...read all the book first.make sure you understand it.then practice a bit
the crux being that you are tracking the pice....so does the chart look right ??
how does it co-ordinate with higher and lower box sizes..that is what needs to practised
then just break it down into bullish and bearish parts using 45 degree trendlines
fx brokers that take $1 a pip ...igmarkets,dukascopy,cmsforex,there are many others
incidentally,the new bullseye can take data from ib
 
s500 index
hourly data..10 points by 1 reversal#euro downgrades have not had too much effect on the index
there is a major supp area 1270-1280.the top two trendlines being close together.if that breaks then 1250 trendline area

1zg8h87.gif
 
Hi Osho
you can trade fx in micro lots.20 cents a pip.a few brokers do these
the one thing with p/f is that you must not be trigger shy
you do need to use bullseye for charting.so that does mean a few mouse clicks to get the data into bullseye...but well worth the extra effort...imho
my own experience is that you will have an edge..how do i know this ??
well i use a couple of chat rooms from time to time and i see what other people are saying who use candlestick and bar charts

so...look at the chart
does it look right ?? if not or you want some confirmation,then adjust the box size or reversal
this is why i prefer duplessis book against the dorsey book.dorsey only talks about 3 box reversal.really for short term trading 1 box reversal is the key...imho
 
Quote from dentist007:

Hi Osho
you can trade fx in micro lots.20 cents a pip.a few brokers do these
the one thing with p/f is that you must not be trigger shy
you do need to use bullseye for charting.so that does mean a few mouse clicks to get the data into bullseye...but well worth the extra effort...imho
my own experience is that you will have an edge..how do i know this ??
well i use a couple of chat rooms from time to time and i see what other people are saying who use candlestick and bar charts

so...look at the chart
does it look right ?? if not or you want some confirmation,then adjust the box size or reversal
this is why i prefer duplessis book against the dorsey book.dorsey only talks about 3 box reversal.really for short term trading 1 box reversal is the key...imho
More...

Thanks for your suggestion for 1 box reversal. I have tried 2 box reversal but today I will definitely try one box as well.
Quote tracker gives p and f charts but they donot have perfect square boxes so 45 degree trnd lines are not possible ,

I will look into bullseye broker as well. I have send you a p.m
 
s500 index
30 min data
5.00 points box size by 1 reversal.
close data..chart is from 23 november
a very smooth uptrend...mind you it did not seem like that.i had to keep in the back of my mind an irresitible urge to go short..so just kept to the chart signals,which was buy the dips

20z7142.gif
 
s&p 500 index
2 hourly data input
8 point box size by 3 reversal
at this point the latest break looks like another fake.no retrace to find supoort as yet
looking vulnerable now

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