This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

The Chairman is posting dummy trades again, and I am going to embark on a little experiment. What I would like to do is take his dummy trade of the day, and display it on a point and figure chart. I think it may prove to be useful, but only time will tell.

For now I’m using a five cent box with a reversal setting of three. I think that setting will allow traders to filter out much of the noise, and find a low risk dummy entry. The chart he posted today wasn’t a screamer. I will alternate between dummy trades, and Trader-X plays.

Edit: Vincent pointed out that my settings were not correct. This chart looks more familiar.

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com