The Definitive Guide to Point and Figure: A Comprehensive Guide to the Theory and Practical Use of the Point and Figure Charting Method 2nd Revised ed. Edition

I bought this book based on the positive reviews, and my own interest to finally understand P&F charts. I can say that the book lived up to its high rating. Here are the key points that I personally admired:1. The author's passion for the subject of P&F charts permeates the entire book. He very thoughtfully takes you on a mental journey of the subject, from historical, to present, and objectively teaches you how to become a P&F trader.2. The editor has performed one of the most thorough spelling and grammar checks I've ever seen. I'm sure this was quite a feat, with a book of over 500 pages.3. After reading this book, I feel the equivalent of taking a graduate level college class - at an upscale private college that is!It's difficult for me to be critical in any way, but I would like to make a few comments. First, even though this is a great book, I'm not sure everyone is suited for P&F trading. However, if you were to dedicate yourself to the discipline, this book could take you there. Secondly, not all trading platforms are designed correctly for "1x1 boxes", explored at length by the author. Fortunately I had access to TradeStation that has the option to use them correctly. Finally, there are some nifty utilities related to box counts, the author refers to. You can certainly do this manually with chart drawing tools, but if you subscribe to Updata (of which the author is a co-owner), you can get these utilities as part of that platform. The author never plugged his own organization, and I applaud him for that. However, it's quite evident that if you want to get serious about trading P&F, you might want to consider their platform.

The title says it all. There are plenty of charts and references to them. This is a well written book, somewhat dense of course, since it is rather technical. Point and figure charts offer a different view of price action and can be set up in many different configurations. Do not expect to become a master of P&F charting overnight. This book gives more than enough information to become proficient in reading these types of charts, but if you are fairly new to P&F charting, it will take a while to put all the pieces together. I find P&F charts easier to read because you can scale out much of the noise and there only a handful of formations that you need to become familiar with. When you include trendlines and counting to set up price targets, you have the mixture for some easier to read charts. Support and resistance levels stand out more clearly and there is no time scale or volume to confuse things. I am glad I purchased this book because it is easy to comprehend and the explanations of P&F methods are understandable. I haven't found any other resources for P&F charting that come close to this one. P&F charting is really a long lost art and that is what appeals to me because so few investors know how they work of even try to use them.

From someone that consistently lost in the market, once you start using P & F it opens up a method of analysis that time based indicators can't reveal. I started on this 3 weeks ago and am profitable ever since. I use the P&F method for bias and Heiken-Ashi candles short term (not covered). The author uses so many examples and charts that you get a pretty clear picture of his intent. The book is heavy and the paper is top quality. Since there is as much art as science (selecting proper box size) you should reread this many times for the finer details, it us well worth it. He stresses this more than once. He gives a thorough history of P & F but that was less interesting. My ONLY dislike is that he spent too much time on 1 box reversals which my charting service doesn't chart accurately.I just can't say enough about the method and the author. BUY IT then study it

After becoming proficient in candle charting, I was a bit hesitant to learn a whole new form of charting. However, I felt that I might as well try to add another tool in the tool box, which is why I bought this book.After reading it, I realized that I did not get another tool in the tool box, but I got a whole new box! This book, weighing in it at 1.5kg, and covering 515 pages, lives up to its title of being definitive. For the price, you get a plethora of material, as well as many full colour charts.Jeremey Du Plessis, the author, starts off by introducing the history of point and figure charting. He goes through this form of charting's evolution, and how its name came about. I thought this section was fascinating, and helped build a solid foundation before he moved on.From there, the author goes on to describe how the charts are constructed, and he goes through numerous examples, so that it's impossible not to understand once he is finally done. Mr. Du Plessis differentiates between the various forms on point and figure charts, and explains the benefits and draw backs of each.The section I found most interesting was the one on the interpretation of buy and and sell signals. This is the part of the book that can be used to make money in the stock market. After reading this section, I came to the realization that this form of charting can show you things that will not be evident in candle charting.Today, six years after purchasing the book, I no longer use point and figure charts. Although I still believe this charting technique is effective, I simply developed a trend following system with candle charts that better suits me. However, the take away lesson that has stuck me throughout the years was the author's systematic, mechanical, disciplined approach to trading which I still use to this day.Finally, there were some downsides to this book. Some of the sections were just too long, and I did not believe in some of the concepts such as using counts to determine price targets. I just don't see the rationale behind this concept. Besides that, this book is very well written and I would recommend it.->Danny Merkel->Charting Trends Blog