I have started to use TICK charts and POINT & FIGURE (short term) charts as additional ammunition for trading the Q's in 5, 10 and 15 minute time periods. The conclusions aren't apparent yet but the additional information and backup verification concerning changes and trends is definitely helpful (along with volume charts of course). I was just wondering if you have had any experience using either of these items and if so what your conclusions were as to their effectivity?

Best Ron E.

~~~Toni's Response~~~

Hello Ron,

To be quite honest, while I have used both $tick and point and figure charting in the past, it has been well over two years since I have used either and while I used the $tick and $trin quite a bit longer than p&f, both were on a rather limited basis and the p&f was based on daily charts only and I looked at this for perhaps at most a month as I did them manually, hence they were frankly too time consuming. I think that with any indicator or supplementary tool, if used consistently for a long enough period of time it can be highly useful. I know a number of traders who use one or the other or both quite profitably and swear by them, such as my partner, Brandon Fredrickson who uses it as one of his main tools. The most popular of the two is use of the $tick though on a 2 minute chart.

I cannot say exactly when I stopped using these tools. The p&f I used less and less as I simply did not have time for them and at the time did not know of places you could have them made online. Also, I became more.. well, I guess the word would be "rounded," meaning I had branched out into more daytrading and position trading, just depending on what the overall market was doing and what opportunities lent themselves to me. With the $tick it was not as conscious of a decision, I just paid less and less attention to it and one day when I was designing a new page setup for my charting platform I just didn't make a place for it and didn't even realize it.

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