Point & Figure vs Candlestick vs Barchart

[derock1004]

I think it is very interesting that nowadays almost no one uses or know how to use point & figure chart anymore. It is almost like a lost art.

I am a trader and use only candlestick chart before and know nothing about P&F. Until recently, i got into my current firm. We are a hedge fund and my manager taught me how to use the P&F. After i learned how to use it, i think is great and it is much more accurate in momentum trading / swing trading.


Are there any one of you use Point & Figure too? and which one you think is more effective, candlestick or P&F?

 

[dentist007]

yep
try updata technical analyst.at updata.co.uk.the best for p/f charting.it is not a lost art.it is still thriving.i agree,it is far more accurate

 

[dentist007]

here is a chart

 

[derock1004]

well...it is still thriving but I would say only about 10% of people in this industry still use Point & Figure.
A lot of those "Technicians" do not even know what point & figure is and how it works.

 

[osorico]

Quote from derock1004:


...
Are there any one of you use Point & Figure too? and which one you think is more effective, candlestick or P&F?

Im an index futures trader. I use bar charts for intraday, and PnF along with range barcharts for the overnight session. PnF (and range bars for that matter) inherent elimination of time and volume are great for thin instruments and/or clock times.

I started trading using candles intraday and found I was spending too much time analyzing "psychological" aspects instead of taking trades. For swing or styles other than scalping candles may have value, but not for scalping, imo.

Osorico