I know I'm really late to this thread but I have to say that I am blown away. I started watching PNF charts recently (read all 34 pages of this thread in that time!) and it's like this set of glasses that filter out everything you don't need. It has made my trading experience incredibly simple and enjoyable! I'm 100% HOOKED! I currently trade mini-DOW futures and have been experimenting with different charts but am getting comfortable with a 2x2, 3x3, 4x3 and a 10x3 all open at the same time, looking for setups and signals on all of them as the day plays out. Not sure why they all work together but taking those along with market internals like TICK or even just a list of the DOW components +/- is all I need. The entries in trending days are super easy and I tend to hit targets quickly; I think I'd have incredible success if I only traded those days. The choppy days are (as told 100's of times here) difficult but I will say this... It's rare that on a breakout or other setup the trade will go against me in the short-term (3-10 minutes), but if the momentum doesn't carry on QUICKLY after the entry signal you're probably in trouble. So, what I'm doing on these days is watching the 3x3 and 4x3 for some sort of sync and pulling the trigger. Then, I watch 2x2 religiously for signs of slowing or reversal and base exits off of that chart. They can be super fast trades but I'm finding that I might get 10-12 points in my direction and then 2x2 says GET OUT and I exit with say 8-10 points profit and watch the price go back to my entry and beyond. If I were more confident, I would immediately reverse my position but baby steps here... Only a few trades have actually materialized after the slight correction/drawdown back in my direction and got to the original profit target but I'm willing to pull small profits quickly before it gets back to ground zero when the trade doesn't carry the momentum I was hoping for...even if it means occasionally watching the profits add up after I exit. There's just too much risk on the choppy days to play it "normal" and for me to feel comfortable playing the ebbs and flows of the market. I prefer trading on the trending days with longer time in trade and basing entry/exit off longer-term charts but I'm finding that a sort of "scalp" strategy using short-term boxes can be a nice alternative on the choppy days! It's a never-ending process and I'm really stoked to be a part of it and see how I can trade better with PnF!! Anyway, I'll keep checking this thread. Keep up the great posts everyone!!! bmills
I'm currently on TradeStation. The P&F scaling can get a bit wonky so drawing trendlines can be difficult but I find that the only time I ever draw TL's is on the slow-moving charts so it's not really a big deal. In terms of seeing the price action unfold in front of you, real-time, it works just fine. On the quick moving charts you just visualize the X's and O's and where you think they're going and various patterns that form up and they just fall in line...it's beautiful
the latest chart for the s&p 500.eod data.box size is 5 points.hilo data.3 reversal.auto vertical counts