GruntnoWay
Active member
Has anyone been on Updata's courses? They have a point and figure one coming up. It looks like Jeremy Duplessy is the course tutor. It is worth going on?
Updata's TA courses
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Du Plessis is OK. It depends how much you know about P&F already. When I saw him a couple of years ago, most attendees were ignorant of P&F. They'll probably show you charts where it worked great. I've used P&F's to good effect in trending markets. Without trends you'll bleed to death on false breaks. He used to claim that Indexia were the only one to calculate P&F correctly. I'm not mathematical so I can't comment on that.
If it's free, then go along, I don't think I'd pay for it though. :cheesy:
If it's free, then go along, I don't think I'd pay for it though. :cheesy:
Hi,
I went on one 18 months ago and it was total crap. Real waste of time. As I mentioned in a post on the moving averages string they ran a simple optimisation regression and claimed that that was the best moving average to use! A very blatant / sad curve fit that only a real fool would fall for!
Like many of these things they show you lots of successful (hand picked) charts, put on a few speakers who traded for a while in the 1970s and give you 2 cups of luke warm tea.
DO NOT WASTE YOUR MONEY ON THEIR COURSE OR SOFTWARE! I have made both mistakes!
Sorry not to be more up beat but best you know before wasting your money!
VN
I went on one 18 months ago and it was total crap. Real waste of time. As I mentioned in a post on the moving averages string they ran a simple optimisation regression and claimed that that was the best moving average to use! A very blatant / sad curve fit that only a real fool would fall for!
Like many of these things they show you lots of successful (hand picked) charts, put on a few speakers who traded for a while in the 1970s and give you 2 cups of luke warm tea.
DO NOT WASTE YOUR MONEY ON THEIR COURSE OR SOFTWARE! I have made both mistakes!
Sorry not to be more up beat but best you know before wasting your money!
VN
GruntnoWay
Active member
My interest is 1 point reversal charts. Metastock always had it wrong. Updata seems to have it right (unless I am wrong). Who else does? Is this covered on the course? Does anyone know?
GruntnoWay
Active member
Tell me what book covers 1 point charts. I have read dorsey and zieg.
Now I can't decide to go or not. 4 places left. help! I had better check my yahoo group to see if i can get any other advice.
Now I can't decide to go or not. 4 places left. help! I had better check my yahoo group to see if i can get any other advice.GruntnoWay said:Tell me what book covers 1 point charts. I have read dorsey and zieg.
I suggest google searching the topic some more (assuming you have done this already). The feel good factor that they feed you on the course will ware off quickly and you will be out of pocket!
Good luck,
VN
GruntnoWay said:Tell me what book covers 1 point charts. I have read dorsey and zieg.
JJ Murphy explains the basic difference - whatever your take on TA it is worth having this in your library - in fact this is my trading 'library'
As with any course though, what you won't learn is how to optimize your PnF charts. The only way to do that is hard graft, by testing, and as ever, should only suit your own timeframe, ability to trade intra-day, risk management, i.e. to get a feel for how frequently you will be in and out of positions.
It's taken TBS and myself a good two years to figure out our index futures' PnF charts, even then it's been an ongoing process as volatility has shrunk, and likewise, several months for our new systems which are still on the drawing board - US Treasuries, Bunds, Copper and oil, plus UK, German, French, Swiss and US stocks.
You can read all about the basics in JJ Murphy, or Dorsey. My take on a PnF course is that unless someone already has systems set up, and is willing to tell you them, in precise detail, unless your timeframe fits theirs, you're better off saving your money and investing in your own time and sweat to configure PnF charts that suit you and no-one else.
It's taken TBS and myself a good two years to figure out our index futures' PnF charts, even then it's been an ongoing process as volatility has shrunk, and likewise, several months for our new systems which are still on the drawing board - US Treasuries, Bunds, Copper and oil, plus UK, German, French, Swiss and US stocks.
You can read all about the basics in JJ Murphy, or Dorsey. My take on a PnF course is that unless someone already has systems set up, and is willing to tell you them, in precise detail, unless your timeframe fits theirs, you're better off saving your money and investing in your own time and sweat to configure PnF charts that suit you and no-one else.
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You might also visit the Point 'n figure university online and do their course.
It covers most bits in some detail.
I've been to one of Updata's evening courses (2hr) and it was quite good. A little ambitious in terms of ground covered and not a lot of time to ask questions.
Did I earn back the cost of entry?
Yeah just about.
It covers most bits in some detail.
I've been to one of Updata's evening courses (2hr) and it was quite good. A little ambitious in terms of ground covered and not a lot of time to ask questions.
Did I earn back the cost of entry?
Yeah just about.
GruntnoWay
Active member
There are two people from my yahoo group going to Updata's pt and fig course on friday so I have decided to hold off until I get some unbiased opinions from them. I will be sure to let you know next week.
Sounds like a good idea.
Meanwhile, if you go to:
http://dorseywright.com/cgi-bin/foxweb.exe/fwuniv
You'll be able to learn all about P&F and ask them some searching questions
Meanwhile, if you go to:
http://dorseywright.com/cgi-bin/foxweb.exe/fwuniv
You'll be able to learn all about P&F and ask them some searching questions
GruntnoWay
Active member
Thanks. I have looked at Dorsey and seen him speak at his free seminars. He does not know about 1 point charts. He just repeats the Cohen 3 point method using daily data which is what most people do.
Just as a reminder, Jeremy du Plessis published an article in Market Technician in October 2002 (issue No 45.) with the title, “Does the continued use of the wrong method make it right?” which goes along way to answer some of the questions that have been raised on this thread.
HTH
Cheers
Mayfly
HTH
Cheers
Mayfly
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