Point and Figure Charting

[Trader Question]

I have been reading some of Tom Dorsey's materials specific to his Point and Figure charting method. I inquire your perspective to the similarities and differences or pros and cons of using it in conjuncture with the Drummond Geometry (DG).

Are there better situations for its utility over the DG or in your view does it provide an inferior application to signaling momentum and aspects of future pricings?

Can you tell me when you will complete the upgrade to the charting tools? I do not have a Tradestation account. Came into the DG electronic charting tools through Omega's Supercharts program, and use as a stand alone application. Would like to continue such to chart electronically and inquire how best to do so.

R.A.

[pldot]

I don't personally use Point-and-Figure charting although I do think it has some validity as a technical tool. When used it should show some of the same points of support and resistance that Drummond Geometry shows since they are both looking at the same market data. I don't use it because I found Drummond Geometry to be superior through its ease of use and the ability to coordinate timeframes, and the more subtle and sensitive measurements of momentum that are possible using the lower timeframes.

We are still working on the upgraded TradeStation indicators and may have them done before the end of the year but it may spill over in to early 2008 as well. There is a lot of work to do here!

I think that you will find the newer versions of TradeStation superior to the SuperCharts versions as there has been a lot of advancement over the years. But ultimately that is a personal decision as it relates to your personal trading style.