Point & Figure Charts... Effective or worthless?

Hey guys, I recently finished reading Thomas A. Dorsey's book on Point & Figure Charting. Having never been exposed to technical analysis I found his simple approach very interesting and he sold his ideas very well. Now, I am looking for a second opinion. Have any of you utilized this strategy for trading and has it worked for you, or is it simply not effective?

Thanks.

 

I actually know Tom Dorsey extremely well. I don't know how effective the technique he uses is relative to any other but I do know that there are some legit firms/managers that use his technique and bring him in to teach courses on his methods.

If I had asked people what they wanted, they would have said faster horses - Henry Ford
 

I put some time into the Dorsey Wright shit when I was in PWM a couple summers ago. I didn't understand the value of it. Good news though: never saw or heard of a single person in trading using it. Don't waste your time with it unless you have to

 

Rem nostrum enim perferendis quasi nulla unde. Qui ipsam vel corrupti. In quis enim illo fuga. Error exercitationem sint in accusantium consectetur rem ad.

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