Thanks Q!
Someone asked me why I created xocharts (http://www.xocharts.com) for point and figure charts: it is for all the thanks and positive feedback I get from so many people (the private emails far outnumber the public - I am sorry that many people don't feel comfortable writing in public but I understand). And the hits are growing
exponentially, I need to get a more powerful server soon!
I created the site for myself, just like I created QPnf for myself because I trade my own account (a little less lately due to working at a hot networking startup, the website, and QPnf!). When I originally discovered point and figure charting, the things I wanted were just not available except for pay, sometimes for a lot of money and even then no one could provide the things QPnf does (continuous realtime p&f, alerts etc). I wrote QPnf and gave it away because it mostly just works and I like having a good free program out there so I can feel like I'm giving something back to the internet community.
But a lot of my friends don't have a real time datafeed, and many, being artists and writers, use Macs. So a website rather than a Windows program seemed more appropriate for them. I'm creating all this stuff because I'm having a blast! I enjoy coding, and I enjoy playing with stocks. The xocharts website brought the two together nicely. After talking to some friends who already have a very successful stock charting site, I went for it.
Point and figure charting is simple and fun and gives very direct buy/sell/stop points. Discipline is one of the things that most individual investors lack, and point and figure charting is a nice way to add discipline to one's arsenal! Michael Burke's Relative Strength, Cohen's Bullish Percent studies, Wyckoff's industry group studies, other market and sector analysis indicators like McClellan Oscillator and Summation and my own Percent Advancing etc, can add a few dimensions to the basic charts, but reading the charts is not that hard and is a lot of fun and very profitable.
Giving all my hard work away for free and helping my friends make money while doing it is my way of making up for all the good fortune with building products at internet related startups etc that I have had recently! The internet made me, and I'm trying to do my bit to make the internet better and more useful!
Down the road, after I'm done adding some more features, I plan to completely integrate the site into my friends' sites and have them take the website over as part of their stock charting network of sites so that I can be just be a user of my site.
Luck, and thanks,
-Atin
P.S I haven't seen Percent Advancing (not Advance/Decline, which McClellan Oscillator and Summation do better anyway) mentioned in the literature anywhere, but it is possible someone else discovered it too, it isn't a hard concept, but it works nice! |
