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Is The Wyckoff Method or Volume Spread Analysis Legit?


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Is The Wyckoff Method or Volume Spread Analysis Legit?

  #31 (permalink)
 
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 bobc 
Boksburg, South Africa
 
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JTT8 View Post
I've read her book and overall I think it was informative and easy to follow. I have been using her principles for the last 4 months and find it useful. Just need to keep practicing and the signs will eventually be easier to spot.

Hi JT
Here something that will help
Google and download "CHART GAME" Its free
Its trading with volume. You can add a few other indicators if you like.
Start with $10000. When you get to $15000 ,take a screen shot and post it.
It will take a few months
Lots of luck
bobc

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  #32 (permalink)
 
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 teamtc247 
Fairburn, Georgia
 
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You can learn about Wyckoff very cheaply. If you do not have a way to analyze the market and you're just trying to trade a bull flag, backing up action, ABC, two waves, or whatever you want to call it, and you trade it because you think that is thinking probabilities you'd be wrong, and you'd be destined to fail. I believe the Weis Wave is more helpful than VSA with normal vertical volume. I don't have any experience with SMI, but Wyckoff Analytics is useful if you like the college education course to understand labeling, don't get caught up in the labeling, but it's good to know and understand the terms. Gary Dayton is a good source if you like the down and dirty and direct method; he doesn't cover labeling too much.

I guess we can argue Volume Profile or Market Profile could be hocus pocus too, trading P,D,B patterns.

Volume doesn't lead the price of how traditional TA was taught. Big volume in the direction of the trend, hey, why is it turning around on large volume on climatic action? LMAO

All of these methods could work, but if one speaks to you, roll with it. The trick is to stick with whatever works for you and making it your own. Some need to backtest for a million days, usually nerdy engineers, can only see in black and white, and others don't mind operating in the Gray. You can't test Wyckoff in that manner. There is a format with Wyckoff, but it's not black and white. It's almost like when you're driving a car, and you can sense a vehicle wanting to change lanes before they turn on their blinker or even make a move but change of character or behavior. LMAO

At times it seems the majority of people on FIO are drawn towards indicators or over-complicating trading. Give it a shot, if you like trading, what's it going to hurt. You just learned something about the method in a space you like, trading. The more you look at a chart, the more any of this stuff will make sense to you.

Process oriented goals #1.
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  #33 (permalink)
 
teamtc247's Avatar
 teamtc247 
Fairburn, Georgia
 
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teamtc247 View Post
You can learn about Wyckoff very cheaply. If you do not have a way to analyze the market and you're just trying to trade a bull flag, backing up action, ABC, two waves, or whatever you want to call it, and you trade it because you think that is thinking probabilities you'd be wrong, and you'd be destined to fail. I believe the Weis Wave is more helpful than VSA. I don't have any experience with SMI, but Wyckoff Analytics is useful if you like the college education course to understand labeling, don't get caught up in the labeling, but it's good to know and understand the terms. Gary Dayton is a good source if you like the down and dirty and direct method; he doesn't cover labeling too much.

I guess we can argue Volume Profile or Market Profile could be hocus pocus too, trading P,D,B patterns.

Volume doesn't lead the price of how traditional TA was taught. Big volume in the direction of the trend, hey, why is it turning around on large volume on climatic action? LMAO

All of these methods could work, but if one speaks to you, roll with it. The trick is to stick with whatever works for you and making it your own. Some need to backtest for a million days, usually nerdy engineers, can only see in black and white, and others don't mind operating in the Gray. You can't test Wyckoff in that manner. There is a format with Wyckoff, but it's not black and white. It's almost like when you're driving a car, and you can sense a vehicle wanting to change lanes before they turn on their blinker or even make a move but change of character or behavior. LMAO

At times it seems the majority of people on FIO are drawn towards indicators or over-complicating trading. Give it a shot, if you like trading, what's it going to hurt. You just learned something about the method in a space you like, trading. The more you look at a chart, the more any of this stuff will make sense to you.

Wyckoff changes the way you think about the market. Larger institutions do not trade the same way as the smaller institutional trend traders(ITS) or retail traders. When retail traders/ITS are selling institutions are accumulating, and when retail traders/ITS are buying institutions are selling distributing. That's the theory in a nutshell, but it's much more than that. If you try and think linearly, you'll get messed up trading Wyckoff, but if you are flexible and can linearly apply the principles, it works.That's if the retail traders really know what they are doing. The majority retail traders in the markets are recklessly trading and are really gamblers and not traders. Coming on many of the trading forums and trying to apply what they are seeing written on these various forums I was one of those dummies . I think it's a secret that no one wants you to know about except the Wyckoffians. Surprised DOW Theory is more published than Wyckoff. If you believe the Market moves in Cycles, Wyckoff is the great place to start, better than DOW Theory in my opinion . However, DOW had a better beard. I mean, Linda Raschke uses Wyckoff so I guess she’s wrong too. LMAO Most of the trading patterns you see fit into Wyckoff, you just have understand where in the cycle even mean reversion trades. All these trading educators are selling you their own fake system not calling it what is really is because if you think they have something special you'll need them for life. Took me a long time to figure that out.

Process oriented goals #1.
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  #34 (permalink)
 
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 teamtc247 
Fairburn, Georgia
 
Experience: None
Posts: 980 since Dec 2012
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teamtc247 View Post
Wyckoff changes the way you think about the market. Larger institutions do not trade the same way as the smaller institutional trend traders(ITS) or retail traders. When retail traders/ITS are selling institutions are accumulating, and when retail traders/ITS are buying institutions are selling distributing. That's the theory in a nutshell, but it's much more than that. If you try and think linearly, you'll get messed up trading Wyckoff, but if you are flexible and can linearly apply the principles, it works.That's if the retail traders really know what they are doing. The majority retail traders in the markets are recklessly trading and are really gamblers and not traders. Coming on many of the trading forums and trying to apply what they are seeing written on these various forums I was one of those dummies . I think it's a secret that no one wants you to know about except the Wyckoffians. Surprised DOW Theory is more published than Wyckoff. If you believe the Market moves in Cycles, Wyckoff is the great place to start, better than DOW Theory in my opinion . However, DOW had a better beard. I mean, Linda Raschke uses Wyckoff so I guess she’s wrong too. LMAO Most of the trading patterns you see fit into Wyckoff, you just have understand where in the cycle even mean reversion trades. All these trading educators are selling you their own fake system not calling it what is really is because if you think they have something special you'll need them for life. Took me a long time to figure that out.

Things in the market tend to happen, there are no certainties. As Brian Shannon says, "Only Price Pays."

Process oriented goals #1.
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  #35 (permalink)
 ss108 
Chicago Illinois USA
 
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teamtc247 View Post
I guess we can argue Volume Profile or Market Profile could be hocus pocus too

Please do not equate Volume Profile with Wyckoff and all the other spurious methodologies out there. Seems like there are more and more posts these days proclaiming that almost any method will work, all that matters is the expertise and psychology of the trader. This is bogus, it is actually quite difficult to find an edge and then execute in a consistent manner.

Instead of Wyckoff, Gann, Fibs and so on one's time would be far better spent learning volume profile, footprints and reading the DOM. But make no mistake, even after diligently learning the aforementioned one will still need to find a specific edge, this can only come after much screen time if at all. This is why most traders fail, they do not treat trading as a time-consuming & serious endeavor.

I heartily suggest the Elite journals for idea generation btw, superb resource, though not all journals are equal.

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  #36 (permalink)
 
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 teamtc247 
Fairburn, Georgia
 
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ss108 View Post
Please do not equate Volume Profile with Wyckoff and all the other spurious methodologies out there. Seems like there are more and more posts these days proclaiming that almost any method will work, all that matters is the expertise and psychology of the trader. This is bogus, it is actually quite difficult to find an edge and then execute in a consistent manner.

Instead of Wyckoff, Gann, Fibs and so on one's time would be far better spent learning volume profile, footprints and reading the DOM. But make no mistake, even after diligently learning the aforementioned one will still need to find a specific edge, this can only come after much screen time if at all. This is why most traders fail, they do not treat trading as a time-consuming & serious endeavor.

I heartily suggest the Elite journals for idea generation btw, superb resource, though not all journals are equal.

Sorry, meant to say Market Profile. Volume Profile is good. I don't know about letters numbers and prints. Just saying volume and Wyckoff go together. Cheers Man.

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  #37 (permalink)
sandtrading
los angeles, California
 
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Wyckoff method works for me but i had to practice that a lot before it worked. It need a lot of fine tuning which is sometimes more of on individual opinion also. I am posting my daily videos in the youtube and opened a new thread here explaining each day chart reading based on wyckoff principles and to some extent my perspective on it. I try to be detailed in those videos. feel free to comment if you need any explanation on it.

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  #38 (permalink)
TacTrader
Manila, PH
 
Posts: 6 since Aug 2016
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Interesting thread. I started down the Wyckoff/VSA road several years ago, I was attracted to the "principle-based" aspect of the methodology. It resonated with me and I became interested. While it takes a lot of hard work and effort to learn (there have been a few times where I questioned myself, the methodology, etc.), like all things if you stick with it, master the concepts, seek to apply them and learn from others - then I can say yes it most certainly works.

There are many ways to make money in the markets (so I hear). To me I see the wisdom and importance in those that say finding the right method that resonates with one's psychology, belief system, interests, etc. is the key.

So if there are any people out there like I was 4 years ago wondering if Wyckoff/VSA was some pipe-dream/scam - I can assure you it isn't. However, you better be ready and willing to put in countless hours of learning and applying the principles (as is required on any trading methodology). However, once it begins to click it is a great feeling indeed.

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Last Updated on August 22, 2020


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