winnie

Strongly agree with you. I found that using 0.5 to 0.7 of 50 day daily range normally would give good result

I agree that bull eye is the best for point and figure chart

Thanks Tam, it is very useful. I will try it in my tradestation.

Thanks BlowFish for your reply

Thank for your reply. Now I am using Bull-Eye Broker software which is the best software to plot point and figure chart. It is a end of the day software which could not be used in real time. I am using interactive broker and writing an excel program to download end of the day data. The data is in ASCII format which could be feed to Bull-Eye Broker. For the real time, I use my excel to download 1 minutes data and feed to Bull-Eye Broker. The good thing in point and figure chart is that you do need to get very close to the market even day trading as the box will not move very fast. Point and figure chart is better than the range bar as it use a box to plot rather than just the price. You could compare both of them and you will find point and figure is more stable. Hope you have time to convert it into an automatic trading. Are you family with programming ? Ta

Dear BlowFish, Are you using multicharts ? Have you use it for automatic trading ? Just want to know how you feel it ? I really want to automatic trading the P&F signal. Thanks

Yes, it is so clear to see the trend, support and resistance. Just the classic buy and sell signal does not work in the modern market. The 2 box reversal seems to better than the classic signal. Hope I could help you to re-think about point and figure chart. Any new idea is welcome as I am still learning about it. I really enjoy trading the point and figure and my equity become more stable. Thanks for your chart !

Attached is a chart of US stock, Symbol :GS. I have sell this stock yesterday as it turns from X to O.

Dear MMS, Thanks for your reply. I agree to you that V is in the up trend, as it is in X column in my point and figure chart, I would not short V until it hit back to 67, it a stop order. At this moment, I have no position in V. Sometimes, I feel hard to use bar chart as you change the bar interval , you will have different picture and different view and make me hard to make a decision. This is why I use point and figure chart. II is more clear and more easy to make a decision.

Position Updated : Forex : US: JPY Exit at 84.7, loss 70 pips (No Opened Position in Forex now) US Stock : Symbol : V Exit at : 68.25 , Profit : +1.5 ____________________________________ Strategy Today: US Stock Symbol : V Sell at 67, stop at 69, profit target 63

Thanks for your reply. Do you have interested to develop it into automation trading system ? Please help me to do so. For the software, I am using the Bull Eye's broker software which you can download from their web site. The software is not every expensive and I using Interactive broker to download the end of the day data. I really want to find one who like to work together to develop this system into automatic trading.

Dear All, Attached is a chart shows how I trade stock. Entry is simple, when X turns to O you short. When O turns to X, you long. It is a stop and reverse system. For the profit target, it may bring some confusion. The Rule is : 1) If last trade is a losing trade, take profit at 2 Box from your entry. 2) If last trade 's profit is between 0 to 2 . Next trade, your profit target is 4 box from your entry. Provided that your equity is not in underwater condition, that means you are not in a drawdown period. 3) If you are in a drawdown period, your job is take profit quick. Your profit target is 2 box from your entry until you go back to your last equity high. That means our profit target is either 2 box or 4 box from our entry. Just take a look at the chart. As some reader point out that when we are in choppy market, we will meet losing trade and a long period of drawdown. That's right and we could not avoid it as we do not know when the market will enter such choppy market. By taking profit quick , hope we can leave the drawdown as soon as possible. 3

Position Updated : Forex US:CAD Exit at 1.0220, Profit : 140 pips US: JAPAN, Move stop to 84.7, profit target :82.6 Stock V Exit at 66.75, Profit : 0 Reverse to Buy at 66.75 , Profit Target :68.25, stop loss : 66.00

Attached is a chart shows all the trend trade in US:CAD. Hope this can make things clear. Tomorrow I will shows you how I trade support and resistance in forex market. US: CAD is now at 1.02560, which near our profit target 1.02200. Hope we can take profit tonight. Any question and new idea is welcome !

For the forex trading, I use both trend set up and (Support and Resistance Set up). For the stock and futures, I trade when X turns to O (For Sell Signal) and O turns to X for buy Signal. I will shows you an example on both trade I made. Thanks for your question

In order to shows you , I am actually trade my set up, just shows my last trade summary from interactive brokers. There are too many guys who do not trade but just talking and point out the High and low and explain to you why it is a hight. It is just waste time to follow them. If it works why not trade by yourself ????

Hi Tams and everyone, Thanks for all your response. Tams, what is MAE and MFE ? Please let me know. Below is the summary of my current FX position : Item Entry Price Signal Stop Target US:CAD 1.036 Sell 1.043 1.022 US:JPY 84 Sell 85.4 82.6 Stock Position Item Entry Price Signal Stop Target V 66.75 Sell 66.75 63.75 FX Performance since May: Item Total Net Profit Number of Trade Winning % AUD:USD 700 pips 7 71% EUR:USD 560 pips 8 63% JPY:USD 280 pips 1 CAD:USD 700 pips 9 78% Stock Performance Since May Item Total Net Profit Number of Trade Winning % V $15.75 29 51% C $1.26 25 56% GS $33 16 62.5% USO $7.5 22 54%

Position Updated : __________________________________________ US Stock Symbol : V Sell at 66.75 Stop at 68.25 Profit Target at : 63.75 __________________________________________

Position Updated : Opened Position : USD : CAD (Sell) Move Stop from 1.05 to 1.043

Just shows a very very simple system which could make money in trading the Citigroup. It is so simple and make it very hard to believe. There is no support and resistance, no trendline, no indicators, no Gann, no VSA. The rule is just buy when demand greater than supply and sell when supply greater than demand, no price objective and let the market tell us. No thinking and no prediction, just listen and follow. Demand is greater than supply , when point and figure chart shows it turns from O to X. Demand must greater than supply when O turns to X otherwise it would not turn. We don't why demand greater than supply and we don't know how long demand will greater than supply. We just trade what we see "Now", No past and no future forecast is made. Just take a look at the chart and think about it. You could modify it according to your need but don't make it too complex and too many rules.

Position Updated (Sept 9,2010): Opened Position : Sell US:JPY at 84.00 New Order: Sell US:CAD at 1.3600, Stop : 1.3740, Profit target 1.3460

Thanks for your help

I have asked many people on how to do this and it seems no one could solve this issue . Thanks for all your help

What I am doing is that on the morning session, I have an opened position and also a stop order for my stop loss. Then at the market close, if my stop loss is not hit. I would like my opened position to closed at the market. As I will not watch the market at the close, I need it to close my position automatically. Thanks !

Thanks. However, I want to close my opened position on market close. Could I do this automatically ? As I live in Asia, I do not want to wake up on 4:00 am every night. Thanks for all your help