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Hand Charting is fine if you are charting say one market. If you are
charting more markets, you might want to try point and figure. It is
much faster to hand chart point and figure than to hand chart bar
charts, much much easier. Of course with point and figure charting, you
end up with less detail, or at least different kinds of detail. You get
the basic trend. You get less confusion. Sometimes Less is More.
Paul Cote
ALTAF JUMMA wrote:
>
> you wrote
> >
> >RT's,
> > I just read an interview of Linda Bradford Raschke in the new issue of
> >Omega Research Magazine. She advocates "hand" charting and asserts that
> >many old timers do this. I have really never done this aside from punching
> >the O,H,L,C into my computer by hand. As she puts it [regarding charting by
> >hand(CBH)] "Not only does it go to a different part of the brain, it sort
> >of internalizes it, and you get into the habit of looking at trend lines ,
> >of being aware of significant chart points." I'm thinking that she must do
> >CBH "end of day," it would be impossible to stay up with intra day. Do you
> >experienced types CBH? Any other comments about CBH?
> >
> >Graphically,
> >Brent
> >
> Hi Brent, Rtrs,
> I agree CBH is an excellent way to learn about chart points and market
> movements, and should make you a better trader. However,I consider it
> impractical unless you are trading very few markets. I am a discretionary
> trader trading over 25 markets in the short-term mode(3 to 5 days). I have
> also daytraded S&P at the same time. I barely have time left for other
> things in life. I am also looking to trade options, forex and other systems
> for diversification. I have missed quite a few trades anyway. If I start
> doing CBH, I would be going crazy, and also increasing my stress level.
> Till John Cappello's post regarding his success with mechanical systems, I
> did not consider mechanical systems as an option because of previous bad
> experience, now I am looking at mechanical systems to get me diversifiaction
> without spending too much time.
> I do eyeball the charts anyway to look for significant chart points for my
> discretionary trading. I would suggest that to train yourself to read
> charts, do CBH for for a few months initially in a few markets and then
> switch over to software -based charting. Comments? Experiences? I am talking
> end of day only.
> Happy Trading ,
> Asif
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