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Hand Drawing Charts for the SPI?

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zenin

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Hi, I'm hoping someone in the forum might have some knowledge in hand drawing their own SPI charts?

Basically, I'm trying to learn the best way to approach hand drawing each price chart (Daily, Weekly and Monthly) and then how to set out or 'scale' price ranges within their respective time frames.

Is there any tricks to how to best set each chart and price range? Any suggestions would be more than welcome. Thanks Jay
 
Trembling Hand said:
Sorry but why would you want to hand draw a chart? Any chart?
Click to expand...

My sentiments exactly. I'm curious. :confused:

Heck, with so many electronic services including digital signitures, I hardly ever get to sign my name on anything let alone hand draw or write much anymore.

About all I hand write these days is my shopping list. But as my old nokia phone battery has finally carked it, I'm in the market for a new phone which will probably have a digital note pad too. :eek:
 
Whiskers said:
My sentiments exactly. I'm curious. :confused:

Heck, with so many electronic services including digital signitures, I hardly ever get to sign my name on anything let alone hand draw or write much anymore.

About all I hand write these days is my shopping list. But as my old nokia phone battery has finally carked it, I'm in the market for a new phone which will probably have a digital note pad too. :eek:
Click to expand...

Beware, my nokia did kark it recently and the kind fellow at the Telstra Shop gave me a stainless steel Motorroller and I am having all the trouble in the world learning how to do a text on it. Wish I had just got a valve grind for the old one.

My Candle stick chart of the US$ gold price now extends all the way around my office (a daily) 2008 is nearly back to 2002. That's why I cant' do posts of it.
 
zenin said:
Hi, I'm hoping someone in the forum might have some knowledge in hand drawing their own SPI charts?

Basically, I'm trying to learn the best way to approach hand drawing each price chart (Daily, Weekly and Monthly) and then how to set out or 'scale' price ranges within their respective time frames.

Is there any tricks to how to best set each chart and price range? Any suggestions would be more than welcome. Thanks Jay
Click to expand...

:)

Hi Zenin,

..... it sounds like you have been reading some of the "old school"
Bowden (sitm) stuff ..... as other posters have concluded, since
the advent of reliable and sophisticated charting programs, the
time wasted on hand-drawing charts can be better spent on
doing better analysis ..... :)

..... but, if you insist on hand-drawing your charts, then maybe
you should do some study on Gann's original charting work, as
well as others, like Herzcyck (sp?) in "Pattern, Time and Price"
to gain some insight, into exactly what you are trying to achieve.

have a great weekend

paul

P.S. .... Whiskers ..... just buy a new battery for your old Nokia, it will be cheaper
and probably a lot more reliable, too ..... !~!

:)

=====
 
Trader Paul said:
:)

Hi Zenin,

..... it sounds like you have been reading some of the "old school"
Bowden (sitm) stuff ..... as other posters have concluded, since
the advent of reliable and sophisticated charting programs, the
time wasted on hand-drawing charts can be better spent on
doing better analysis ..... :)
Click to expand...

That's what I was thinking. But I'm always interested in exceptions.

P.S. .... Whiskers ..... just buy a new battery for your old Nokia, it will be cheaper
and probably a lot more reliable, too ..... !~!

:)
Click to expand...

explod said:
Beware, my nokia did kark it recently and the kind fellow at the Telstra Shop gave me a stainless steel Motorroller and I am having all the trouble in the world learning how to do a text on it. Wish I had just got a valve grind for the old one.
Click to expand...

Yeah, part of me agrees with you, but I'm wrestling with the other part that says get with the times.
 
Trader Paul said:
:)

..... it sounds like you have been reading some of the "old school"
Bowden (sitm) stuff ..... as other posters have concluded, since
the advent of reliable and sophisticated charting programs, the
time wasted on hand-drawing charts can be better spent on
doing better analysis ..... :)

=====
Click to expand...

I'm of this old school. My chart was over 2 metres high and 6 metres long
I used to roll it out like carpet when it got too high for the wall.

It was very good because hand charting stick important dates and prices in your head as part of the hand drawing.

It was hopeless because you spent so much time drawing and it was a pest when you make a mistake.

I do not hand chart anymore and I don't use any SITM techniques anymore
 
Freddo said:
My chart was over 2 metres high and 6 metres long
I used to roll it out like carpet when it got too high for the wall.
Click to expand...

2 metres by 6 metres?
Roll out like carpet?

Luxury ...
 
Trader Paul said:
:)

Hi Zenin,

..... it sounds like you have been reading some of the "old school"
Bowden (sitm) stuff ..... as other posters have concluded, since
the advent of reliable and sophisticated charting programs, the
time wasted on hand-drawing charts can be better spent on
doing better analysis ..... :)
Click to expand...

Or Trading the SPI by Brent Penfold.

I agree, I would not waste the time. Plenty of other things to consider and time better spent IMO.
 
Started trading education with SITM over 11 yrs ago now and was taught to hand draw SPI charts. The idea was good hand to eye co-ordination and help to remember important major highs and lows...

SITM did make money out of selling their special charting paper, and IMO was incredibly expensive, and subsequently raised the question in my mind if it was just another way help newbie suckers part with a bit more of their cash.

I have also read the book "Pattern, price & time : using Gann theory in trading systems" by James A. Hyerczyk as suggested earlier by Trader Paul and is certainly one of the better books I have read so far on Gann style analysis.

:2twocents
 
Hi, this is James Hyerczyk. Your posting came up in a google search so I joined the forum.

Thank you for buying my book. How can I help you better understand Gann analysis? Are you looking for charting paper? The scale to use? Let me know, and I'll try to help you.

Jim
 
Hello Gentleman.

I saw "old school", "hand-charting", and my name butchered somewhere in here so I knew I had to join. I have charted by hand since 1982, but I also have limited programming skills in TradeStation. My charts are big so my angles don't get all clustered like they do on a screen chart. I guess it comes down to personal preference. I believe trading is 90% mental, 10% mechanical so I keep my Gann analysis simple: main trend indicator, angles. I have done my homework as far as time is concerned so it's already plotted on the chart. The more time I spend with the chart, the better I get at that market.

Basically I let the price create horizontal and diagonal support or resistance, time gives me a vertical zone to form a box, then I look for a pattern to take place inside the box. Today it seems everything is smoothed out, I like working with raw prices. Also because of the over emphasis on Fib retracements we have far to many "horizontal" traders.

I don't have a lot of markets to watch. I am mainly driven by volume and volatility. The only computerized pattern I watch for is a closing price reversal. The rest of the indicators, in my opinion, either lag or are coincidental. I like things with predictive value.

I have seen Gann angles plotted by programs, but nobody has built a two-bar trend indicator like I have. Many of the programs are difficult to work with like CQG because they are created by programmers not traders or analysts. Their Gann angles take to much time to create. Also Time is the most important factor. Very few canned programs have anything to do with time.

Like I said before, its a personal preference.

If anyone knows of a program that can put seasonal, cyclical, square dates and astro dates on a chart, please let me know. This would save me time.

Best Wishes and Good Trading,

Jim Hyerczyk
 
I spent nearly 5 years in the early 90’s hand drawing daily and intra-day charts on the SPI

I didn’t use any indicators, just read the charts. It’s the best thing you’ll ever do to get a ‘feel’ for the markets.

Nowadays, new traders spend half their learning curve playing around with indicators trying to find which works the best. The sad part none do.

In my opinion you will probably learn to ‘chart-read’ effectively much quicker by hand drawing charts than fluffing around with numerous lagging indicators.

Trading is all about support/resistance/ reversals and breakouts.

And that can be all done with ‘hand charts’, especially when only looking at one market. (SPI)

Once you spend time hand drawing charts, then for damn sake get a program because you don’t want to be updating 10 different charts of different stocks on a daily basis, you’ll go nuts
 
Hyerczyk said:
Hello Gentleman.

I saw "old school", "hand-charting", and my name butchered somewhere in here so I knew I had to join. I have charted by hand since 1982, but I also have limited programming skills in TradeStation. My charts are big so my angles don't get all clustered like they do on a screen chart. I guess it comes down to personal preference. I believe trading is 90% mental, 10% mechanical so I keep my Gann analysis simple: main trend indicator, angles. I have done my homework as far as time is concerned so it's already plotted on the chart. The more time I spend with the chart, the better I get at that market.

Basically I let the price create horizontal and diagonal support or resistance, time gives me a vertical zone to form a box, then I look for a pattern to take place inside the box. Today it seems everything is smoothed out, I like working with raw prices. Also because of the over emphasis on Fib retracements we have far to many "horizontal" traders.

I don't have a lot of markets to watch. I am mainly driven by volume and volatility. The only computerized pattern I watch for is a closing price reversal. The rest of the indicators, in my opinion, either lag or are coincidental. I like things with predictive value.

I have seen Gann angles plotted by programs, but nobody has built a two-bar trend indicator like I have. Many of the programs are difficult to work with like CQG because they are created by programmers not traders or analysts. Their Gann angles take to much time to create. Also Time is the most important factor. Very few canned programs have anything to do with time.

Like I said before, its a personal preference.

If anyone knows of a program that can put seasonal, cyclical, square dates and astro dates on a chart, please let me know. This would save me time.

Best Wishes and Good Trading,

Jim Hyerczyk
Click to expand...

Hi Jim,

Regarding "angles"; maybe you can answer the burning question many a Gann doubter has always had.

The question is this: The relationship between the x and y axes on a price chart isn't, and never has as far as I know, been absolute. As trader a and trader b may use different scaling on a particular axis to the other, how can an angle be absolutely measured, without a great whopping handful of discretion, with regards to scale on the x axis?

I've asked this question many times without ever getting an answer. I'm genuinely interested in the solution to this conundrum.

Cheers
 
Hyerczyk said:
Hi, this is James Hyerczyk. Your posting came up in a google search so I joined the forum.

Thank you for buying my book. How can I help you better understand Gann analysis? Are you looking for charting paper? The scale to use? Let me know, and I'll try to help you.

Jim
Click to expand...

Hi Jim

Welcome to Aussie Stock Forums!

Thanks for taking time to explain your field of study to us, it's always encouraging to have interesting traders here on ASF. I'm glad to hear that you try to keep your analysis and forecasts simple rather than making it too complex.

Excuse me for asking, but how should we pronounce your surname?

fwiw, I too am interested in your reply to Wayne's question about angles. There are a couple of Gann based traders here on ASF- Trader Paul and Magdoran. I don't know which school of Gann they subscribe to exactly but you may have some things in common.
 
Thanks to everyone for their imput, i'd really had hoped it would create a discussion with some clued-in people on this forum. Since there is such a huge knowledge base here for weighing the pros/cons for such subjects.

I appreciate your imput and will keep considering if i will go ahead with it from here. Cheers : )
 
Re: Data SPI

Additional question:

Are there any online sites that offer delayed SPI charts and or back data? I currently don't require live data so any links would be appreciated. Thanks Jay
 
Re: Data SPI

zenin said:
Additional question:

Are there any online sites that offer delayed SPI charts and or back data? I currently don't require live data so any links would be appreciated. Thanks Jay
Click to expand...

:)

Hi Zenin,

XJO/SPI ..... as you do not require live data, one alternative that is readily
available is the actual physical market ... ie XJO ... this also does away with
one level of sentiment, in the marketplace.

You can access historical and daily updates for XJO, at:

http://www.investorweb.com.au/MB_download_price.asp

have a great day

paul

:)

=====
 
Re: Data SPI

Trader Paul said:
:)
XJO/SPI ..... as you do not require live data, one alternative that is readily
available is the actual physical market ... ie XJO ... this also does away with
one level of sentiment, in the marketplace.
Click to expand...

But that is no good as you get opens that are not true indications of the market.

And what do you mean by "does away with one level of sentiment"?
 

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