Help! Need good intraday Point & Figure emini S&P Chart! Can it be done?

[Emini Gambler]

I'm trying to set up a good intraday point & figure chart for the emini S&P (ES H3) in Esignal.

I would like a standard 3 box reversal, and I need the time frame to be less than 1 min. This is for daytrading the emini S&P.

I have tried everything I know and have not been able to do squat. The standard charts are not intraday. The advanced charts don't seem to scale like anything I'm used to. Maybe my thoughts about scaling are fouled up. Can anyone help?

I really don't need more than the current day - I have not been able to limit the advanced charts to only 1 day. It always gives me too many days. When I tried to do a tick PnF chart my Esignal locked up.

The PnF charts that Lind-Waldock offers are very nice and refresh every 20 seconds. Lind offers a 10x30 and a 25x75 for ES H3. These are what I am trying to reproduce. They are very easy to indentify intraday trends on.

Has anyone had any luck with intraday PnF charts for the emini S&P? I also hope to be able to draw some trendlines.

THANKS!

[point1pc]

emini daytrading with PnF

See the current (Sept 2003) issue of Stocks and Commodities. It has an excellent article on using PnF charts to daytrade the
emini.

Up to now, I saw no use for PnF charts in intraday trading. This
article turned me around BIG time.

Based on what I learned from this article, I added PnF charts
to my current system (which is limited to tick and minute candlestick charts)
this week, using the guidelines set forth in that article, and
am REALLY pleased with the results.

Worth a look.

[blaze_2003]

point1pc, I too saw this article and was intrigued with the method.

In the article Mr. Steele says "As you study the charts, you will discover that it is possible to to determine in advance when the stock will change direction". Further down in the article he says "I stayed in the market and allowed only one box to react". Near the end of the article there is a list of trades that represent his method.

I compared the trades in figure 4 with the chart in figure 3 and it seems to me that Mr. Steele is able to enter a trade before the chart reverses 3 boxes. It's almost as if he can tell beforehand when a 3-box reversal will take place.

I've followed some realtime charts, setup as he recommends, and I cannot seem to replicate what he says he is able to do. Am I missing something? I'm curious what your take on this is. Have you been able to devise a way to trade this method as Mr. Steele has?

thanks!

[bobbethgoo]

set your time to 20S if you like 20 seconds and create a new time template for 1 day

[point1pc]

Steele's article in S&C magazine

As to the "trading results" list shown in the article, I think he generated that list by just automatically entering and exiting trades (a stop and reverse) each time a reversal occurred.

On days with extended reversals, that works fine. But on other days, like when you are trending up or down all day (like Aug22) I would have been chewed up.

Just my opinion. Anyone interpret it differently?

[shars]

"On days with extended reversals, that works fine. But on other days, like when you are trending up or down all day (like Aug22) I would have been chewed up."

I'd say his example of 33 trades could be interpreted as being a trending day up and down for sure.

Haven't tried this, just new to esignal, but it is a goal to try his system out.

Shar

[esignal73]

P&F question

I have also read this article by Eugene steele. I have tried but I don't exactly know when to buy or sell. When color changes it appears with 3 flashing x or 0's. Do you guys wait until it stabilizes and fourth x or o appears, or just take the trade. I am talking about metastock p&f. How you guys are doing.