Oilman,

I noticed your query about Point & Figure charts over the weekend.

I haven't visited these sites in a long time but I assume they still exist. dorseywright.com and EZ-PnF.com

Below is an excerpt from a post I made about using point & figure charts alittle over 11 years ago.

"Like anything else in trading one has to ask oneself why and what one would want to use the tool for? After you know why/what you want to use it for that may help you decide the important issue of box size for your P&F chart. Smaller the box size the more sensitive the chart; larger less sensitive. So do you use P&F for entry/exit or stoploss placement or signal a reversal of a trend?

When I use or have used P&F its for trend change warning and some times entry confirmation. I like P&F because its visual and doesn't always require a lot of time and attention. Charting of any kind that I do I always do by hand; I find doing them by hand keeps me "in touch" with the price and gives me a "feel" for the direction. I don't mean to sound negative towards my fellow traders but I'm guessing most don't use P&F because they're too lazy to figure it out and do it for themselves. I find that after I take the time to figure out the box size(which occasionally changes) and draw out the chart & keeping track of it for 3-4 weeks I actually can stop doing it by hand. I can visualize & memorize the box size and signal points. Maybe two or three times a year I'll start up again to tweek the chart and get my hands back on it. This usually happens after some one asks me about them."

I hope this may assist in any "X"ing and "O"ing you may do in the future.

Prosperous trades to you!

KJB22