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Wyckoff Trading Method
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Wyckoff Trading Method

  #1021 (permalink)
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Nikoma View Post
Are the bars at the bottom the cummulative volume of each swing?

Yes.

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  #1022 (permalink)
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YertleTurtle View Post
There are some other texts written by Wyckoff himself.

https://cdn3.traderslaboratory.com/forums/attachments/131/17907d1263785828-wyckoff-resources-wyckoff-method-tape-reading.pdf

If you dig around on traderslaboratoy you should be able to find some more. Perhaps DBPhoenix will post a response as he is kind of the keeper of the grail.

Even this is a part of the Wyckoff course, so from what i understand the "REAL WYCKOFF METHOD" is available in the SMI course with certain add-ons. Who is DBPhoenix ?

Cheers

If you can visualize, it will materialize
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  #1023 (permalink)
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YertleTurtle View Post
Perhaps DBPhoenix will post a response as he is kind of the keeper of the grail.

I wouldn't call myself "keeper of the grail", but I do find it perplexing that those who say they're interested in Wyckoff would so assiduously avoid reading him in the original rather than second hand or third hand or fifth or tenth, particularly when the course is free.

Oh, well.

Somebody said they wanted charts. I don't know how much one can learn from a couple of charts. They're certainly no substitute for study and practice. But these may at least provide examples of what trading Wyckoff is all about: no indicators, no colored anything, no candles, no waves, no plugins, no special software, no web of lines and patterns (except for the occasional trendline or demand/supply line).

The first is from last Thursday EOD. The second, third, and fourth show the progression of trades on Friday. The fifth is an alternate form of the fourth, for those who still have fear issues.


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The last is for the remainder of the day:


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This next is for this morning, along with a transcript of the real time chat session (add two hours for EST). The other participants are largely edited out since they don't necessarily want their comments broadcast across the internet.

The first chart shows the retracement of the buying wave that I referred to early on. A 50% retracement is 60.


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Note that there is only one trade here, from support to resistance.


The following is the "chatscript" (it begins at the bottom):

DbPhoenix (Edit ∑ Delete) Today 08:29 AM
And 85. Gap closed.
DbPhoenix (Edit ∑ Delete) Today 08:27 AM
And there's 84
DbPhoenix (Edit ∑ Delete) Today 08:26 AM
They're going to get a hernia
DbPhoenix (Edit ∑ Delete) Today 08:24 AM
If and when the gap closes, I may just exit
DbPhoenix (Edit ∑ Delete) Today 08:20 AM
Almost there.
DbPhoenix (Edit ∑ Delete) Today 08:15 AM
Next leg up
DbPhoenix (Edit ∑ Delete) Today 08:11 AM
So we have 19pts so far. Wonder how the scalpers are doing?
DbPhoenix (Edit ∑ Delete) Today 08:03 AM
Gap nearing closure
DbPhoenix (Edit ∑ Delete) Today 08:03 AM
Is this real time enough for everybody?
DbPhoenix (Edit ∑ Delete) Today 08:02 AM
And there we go
DbPhoenix (Edit ∑ Delete) Today 08:02 AM
I think they do it bec they don't want to be part of the herd. What they don't realized is that it's the herd that moves price.
DbPhoenix (Edit ∑ Delete) Today 08:00 AM
That's why they always complain that nobody can do this.
DbPhoenix (Edit ∑ Delete) Today 08:00 AM
I let the kids trade countertrend
DbPhoenix (Edit ∑ Delete) Today 07:59 AM
Never
N - Report Shout Today 07:59 AM
When do you take trades against the LOLR, do you?
DbPhoenix (Edit ∑ Delete) Today 07:58 AM
Almost 1000
DbPhoenix (Edit ∑ Delete) Today 07:57 AM
Appear to have found S at the premkt swing high
DbPhoenix (Edit ∑ Delete) Today 07:56 AM
Buyers getting a second wind here
DbPhoenix (Edit ∑ Delete) Today 07:55 AM
And the btm of that range may provide R. However, the MP of the last upwave is 60. And since all that was tested overnite, that makes the LOLR up.
DbPhoenix (Edit ∑ Delete) Today 07:39 AM
Anyway, here's your entry
DbPhoenix (Edit ∑ Delete) Today 07:36 AM
Bounced off S at 60
DbPhoenix (Edit ∑ Delete) Today 07:31 AM
Next level, 60
DbPhoenix (Edit ∑ Delete) Today 07:30 AM
For whoever is out there, NQ is testing S at 65.

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  #1024 (permalink)
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DB,

What does LOLR stand for? I hope you don't mind a few questions.

I understand the 50% point of the wave being important. I have noticed though that some markets will make larger retracements of a swing or wave. How do you handle a situation like that? For example, if you have a wave up and price retraces 100% and makes a double bottom, for lack of a better term. Is the trade location at the double bottom, or if price moves back up exceeding the 50% move back up? I hope this is clear.

D

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David_R View Post
DB,

What does LOLR stand for? I hope you don't mind a few questions.

I understand the 50% point of the wave being important. I have noticed though that some markets will make larger retracements of a swing or wave. How do you handle a situation like that? For example, if you have a wave up and price retraces 100% and makes a double bottom, for lack of a better term. Is the trade location at the double bottom, or if price moves back up exceeding the 50% move back up? I hope this is clear.

D

Line of least resistance. If you scan the course that Yertle uploaded for you using Ctrl+F "line of least resistance" (without the quotes), you'll find several explanations/examples of it, beginning with Section (chapter) 2.

As for the wave business, show me the chart that you typically use currently for your trading. I need to know where you are and most of the stuff posted here is pretty old.

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DbPhoenix View Post
Line of least resistance. If you scan the course that Yertle uploaded for you using Ctrl+F "line of least resistance" (without the quotes), you'll find several explanations/examples of it, beginning with Section (chapter) 2.

As for the wave business, show me the chart that you typically use currently for your trading. I need to know where you are and most of the stuff posted here is pretty old.

DB,

My question about the 50% is more general than specific. If that makes any sense. I'm hesitant to post my usual chart because I generally use tick charts and I notice you are using minute charts along with a daily. I'd rather be in line with what you are doing/explaining than mixing in my other stuff.
I've posted a chart of cured oil. It happens to be a 15 minute chart and shows a few swings/waves. A-B being the swing and point C is the area that is exceeding 50%. I understand that this could just be a moment in time where price is in a range so you get action to the top of the range and then the bottom of the range. But, we don't know this in advance, so if our expectation (not sure if that is the expectation) for the 50% point to hold, how do we deal with the cases where it does not? I guess that was the main question I had in the prior post.

In regards to wanting charts. I do much better with visuals, or seeing the what is being discussed than just text. The picture is worth a 1000 words sort of thing.

I notice you just have price bars and have said that we don't need volume. I see in the PDF Course that there seems to be a fair amount of discussion on volume in conjunction with the bars. Is the volume needed?

Thanks for the charts.

David

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  #1027 (permalink)
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hi, David, Gary Fullet has a free webinar on Wyckoff at 6pm this evening.

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  #1028 (permalink)
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wrap up

1. Yesterday's spring had weak reaction, because it did not make higher high and did not break that weakness red bar, also this spring has grinding higher which is a weak signal of reaction, overnight formed a TR

2. this morning had a SOT at creek, I entered at that SOY/UT, then we had the high volume bar(blue), but it did not make higher, good effort had no result

3. the big red SOW bar at right hand side confirmed my entry.

4. after this SOW, market formed 2 spring at the area where the prior spring had weak reaction, so I believe this spring will not be successful and I held my position

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David_R View Post
DB,

My question about the 50% is more general than specific. If that makes any sense. I'm hesitant to post my usual chart because I generally use tick charts and I notice you are using minute charts along with a daily. I'd rather be in line with what you are doing/explaining than mixing in my other stuff.
I've posted a chart of cured oil. It happens to be a 15 minute chart and shows a few swings/waves. A-B being the swing and point C is the area that is exceeding 50%. I understand that this could just be a moment in time where price is in a range so you get action to the top of the range and then the bottom of the range. But, we don't know this in advance, so if our expectation (not sure if that is the expectation) for the 50% point to hold, how do we deal with the cases where it does not? I guess that was the main question I had in the prior post.

In regards to wanting charts. I do much better with visuals, or seeing the what is being discussed than just text. The picture is worth a 1000 words sort of thing.

I notice you just have price bars and have said that we don't need volume. I see in the PDF Course that there seems to be a fair amount of discussion on volume in conjunction with the bars. Is the volume needed?

Thanks for the charts.

David

I don't see a chart. Am I supposed to click on something?

Be that as it may, I need to see what you see. Otherwise, it's just the usual theoretical baloney. If by "tick chart" you mean 1t, just back off as much as you can and post a chart with a longer interval to show the context, i.e., wherein the tick chart lies.

As for reading the course, there's no way you're going to make a success of this solely by looking at charts (there are, however, plenty of charts in the course). You may get by, but considering how long you've been at this, I assume you want to make a living at it. If that's a false assumption, perhaps we ought to just leave it here.

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hmm


Frankly, I don't think 50% setup is all about wyckoff.

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