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Revision History For: Point & Figure - Beginners (Real Green)

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I have been very interested in Point & Figure charting and I follow the P&F thread. I have many basic questions and don't want to clutter that thread with newbie stuff. So, I think this would be a great place to go when anyone has even the most basic questions regarding P&F. So don't be afraid to ask a question, even if you think it is stupid, which no question on this thread can be - ever! Just ask and I'm sure someone (other than myself for now) will be happy to give a complete and concise explanation. Providing examples would be very helpful! I expect help from the pro's out there.

Here are just a few questions that I have to kick this off:

1. Say I want to start a P&F chart on Compaq using Thursday's closing price (December 24, 1998). Where do I begin on the P&F chart and how do I know whether to start with a column of X's or O's, and how many should I start with - one X or one O or some other amount?

2. Say I want to begin doing a P&F chart using one of the new sector spyders, which just started trading on Dec. 22. Where do I begin? Do I have to wait for a trend before I can start a P&F chart?

I'm sure there will be many other questions from many of you out there and I hope this thread can be truly an educational experience for everyone interested in the P&F method.

Thanks,

HiTech