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Webinar: David Weis on Wyckoff, Support/Resistance and Waves
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Webinar: David Weis on Wyckoff, Support/Resistance and Waves

  #11 (permalink)
Elite Member
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I'm completely biased as my own trading is heavily influenced by David Weis but like all of his material - it was clear, effective and concise. I think his advice was spot on and his methodology is elegant in its simplicity. I couldn't be happier with the material.

For anyone who is serious about studying this methodology I highly recommend his free nightly newsletter and his new book.

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  #12 (permalink)
 Vendor: www.indicatorx.com 
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Thanks

@Big Mike,

Thank you for arranging for David Weis to do a futures.io (formerly BMT) webinar. I think it is always worthwhile to listen to those with decades of experience. And the method he uses stems from an approach 80+ years old.

I would recommend his book wholeheartedly as David's webinar only scratched the surface of his method. I think someone new to trading could potentially save themselves years of trying and testing different methods by reading it. It is not a prescriptive 'system' but focuses on building up chart reading skills/intuition via price and volume studies by looking for the subtle clues of who is gaining the upper hand - bulls or bears. Regardless of what 'method' you end with it would be money and time well invested to get a copy and study it.

In my case, the greatest benefit of adopting Wyckoff principles has been a greater understanding what is going on 'under the hood' of the markets. Now I see the engine not the car.

Thanks again and if you can get David back there are lots of other areas he could focus on.

know thyself
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  #13 (permalink)
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Are you using Tickvolume ?


@mokodo In your trading journal you use the weis waves for spot forex ?
Are you using tick volume for building the cumulative wave volumes ?

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  #14 (permalink)
 Vendor: www.indicatorx.com 
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FB2012 View Post
@mokodo In your trading journal you use the weis waves for spot forex ?
Are you using tick volume for building the cumulative wave volumes ?

Hi @FB2012,

Yes it's tick volume. And I must admit to not to be using David's Weis Wave. This is PriceActionSwingOscillator (available to download here at futures.io (formerly BMT)). I have had to partly recode it as my data provider's (MB Trading) historical data is configured differently to it's live data. This indi differs from the Weis Wave in one important aspect, that is the swings are calculated on a strength measure rather than a reversal measure. For learning the concepts I think it's is a fair substitute, but as I say I can not use the Weis Wave due to issue with my data provider.

There are obvious pitfalls with using spot fx tick volume, but I am finding for making relative, comparative assessments on a wave to wave basis it's OK, but as with all things it's building up the experience of using it and learning the nuances that's important.

know thyself
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  #15 (permalink)
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Wave determination is maybe not as important

I think the method how to determine the beginning and ending of a wave is maybe not
as important as cumulating the volume or ticks for that wave. Because the cumulative volume just reduces the amount of work to do in analysing pure volume. The only thing one should be interested in, is maybe how much has been moved and how much volume was used for that price distance.

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  #16 (permalink)
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I was wondering if anyone uses the Weis software or if anyone has learned with him through his mentoring sessions. If so, what are your impressions? Thank you

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  #17 (permalink)
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Drd13 View Post
I was wondering if anyone uses the Weis software or if anyone has learned with him through his mentoring sessions. If so, what are your impressions? Thank you

I think Trevor @t123knight uses the Weis Wave. See this journal

https://futures.io/elite-trading-journals/18209-wyckoff-speculator.html

I do not know of anyone who has been mentored directly by David Weis.

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  #18 (permalink)
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Drd13 View Post
I was wondering if anyone uses the Weis software or if anyone has learned with him through his mentoring sessions. If so, what are your impressions? Thank you

Please create a vendor review thread if one does not already exist.

Sent from my Nexus 4

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

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  #19 (permalink)
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Big Mike View Post
Please create a vendor review thread if one does not already exist.

Sent from my Nexus 4

Here is the vendor review thread:

https://futures.io/vendors-product-reviews/13898-david-weis-cumulative-volume-review-www-weisonwyckoff-com.html

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #20 (permalink)
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Linda Bradford Raschke and David Weis in a discussion


It would be great to see those two discussing a chart maybe of the S&P500.

Because when rewatching Lindas last webinar on futures.io (formerly BMT) knowing that she also is a great fan
of wyckoff shows a lot of parrallels. She also looks at volume and the ratio of price movement it
causes. And saying exactly the same as Weis, that trend is ending when the volume is high but price movement
is small. This was called by Weis an open bucket.

But you know trying to be a disciplined trader how should i backtest such a concept.
I would just use it and omit it and believe those two great traders.

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