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What triggers does one use for entry/exit when using P&F. I would think one
would end up entering on breakouts and getting whipsawed quite a bit,
especially in the s&p. Can one apply the same Fibonacci, pattern and
formation techniques used on bar charts? Obviously, my P&F knowledge can fit
on the head of a pin.
Earl
-----Original Message-----
From: Steve Mcguire <netvest@xxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Friday, February 05, 1999 9:46 AM
Subject: Re: GEN: What P&F Box Sizes?
>Rob,
>
>You're on the right track with P&F. I use 4 point boxes on the S&P, thought
>I've seen other use 5 or 10. On low price stocks you have to try different
>size boxes to see what works best. Below $20 you might use 1/2 point or 50
>cents. When you get below $10 I have no idea as I've never tried P&F on
>these.
>
>My experience has been on using P&F in futures and I can honestly say it
has
>turned my trading around. After 30 years in the business, I use nothing
>else.
>
>
>
>Rob Fletcher wrote:
>
>> Could someone please give me an idea of the correct box sizes for P&F
>> boxes. Not in fractions, I trade on the Australian market in dollars and
>> cents. I mainly trade in Gold shares where the market price range is
>> from say 10c to $5. For example if you were plotting a stock that has an
>> extreme range let's say of $2.50 to 10c what box size would you use?
>>
>> I also trade SPI FUTURES (SnP equivalent in Australia), currently it's
>> trading in the 2900's and a range of 40 points a day is not uncommon at
>> the moment. What box size would you use in that market.
>>
>> I know the box size makes a lot of difference as I've tried a few with
>> just a few cents difference and suddenly a double bottom appears where
>> one wasn't before.
>> I've tried posting something at the dorseywright.com forum, but it
>> appears they don't let someone on a two week trial post messages.
>>
>> As you might have guessed I've only just started looking at P&F, but
>> from all the TA I've investigated, this method seems very promising.
>> Thanking anyone in anticipation.
>> Rob
>
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