Why Use Point & Figure For Forex

http://www.eightdragonscapital.com

Most new forex traders go from buying trading books, seminars and courses, flip-flopping along the way trying to unlock the secrets of time frames, Japanese candlesticks, Bollinger bands, Fibonacci numbers, counting Elliot waves, and then finally in desperation turning to macroeconomics for dummies. 

Economists hate Technical Analysis and discount it as mere astrology for those who don’t have an economics degree. However, most traders that I’ve worked with prefer the insight of good price patterns to the theory of economic dogma., and so should you. You don’t need to be ignorant about fundamentals, just be aware of them.

All the books and courses that you will take, tell us how markets are complex, and it is difficult to explain one particular reason why markets move up or down.

However, after my 30 plus years in forex markets, I always come quickly to the same simple conclusion of why markets go up, there are more buyers than sellers, or if they go down it’s more sellers than buyers.

In other words, supply and demand are the big Kahunas of all indicators.

http://www.eightdragonscapital.com Live Point & Figure charts show the supply and demand that needs to be used to determine the direction of the price now and going forward.

All indicators need to have a core theory, as to why they work., the use of Supply & Demand is an economic rule which is simple to understand as a market mover. This makes P&F easy to use. When all is said and done the price movement is all the analysis and sentiment being built-in by buyers and sellers.

You don’t need time frames, they just add confusion, by making unnecessary trade noise to confound your senses and befuddle your brain. We buy at price not, time.

By subscribing to http://www.eightdragonscapital.com or taking our courses, you will learn how to trade successfully using the point and figure method. You need to learn 2 simple signals and easy to see price patterns and support and resistance.

Point and Figure Charts are simple to understand and use.

Simplicity is Genius.

Published by Neil Callard

Forex Trader and Educator. 30 years trading experience, of which 20 years was market making in major currencies in large international financial institutions.

7 thoughts on “Why Use Point & Figure For Forex

  1. An interesting discussion is definitely worth comment. I believe that you should publish more on this subject matter, it may not be
    a taboo matter but typically folks don’t talk about such
    issues. To the next! Kind regards!!

    Like

    1. The people with vested interests to keep the market status quo, are retail brokers.
      They are not really the bad guys, but the biggest beneficiary of the boom in financial trading by individuals.
      As far as they see, people losing money to them is not their problem, as there are plenty more customers coming.
      I think over trading and over-leverage is actively encourage by their business model.
      Using methods such as I use reduces the number of trades you do significantly. So I am respected but ignored.

      Like

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