Wyckoff Trading Method - Traders Hideout | futures io social day trading
futures io futures trading


Wyckoff Trading Method
Updated: Views / Replies:243,419 / 1,384
Created: by David_R Attachments:696

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 696  
 
Thread Tools Search this Thread
 

Wyckoff Trading Method

  #1361 (permalink)
Elite Member
st louis ms/us
 
Futures Experience: Intermediate
Platform: metatrader
Favorite Futures: Forex
 
Posts: 6 since Sep 2013
Thanks: 0 given, 1 received


Quoting 
By the way, I have not gone into any explanations of terminology etc. regarding Wyckoff. There are bar patters such as Up Thrusts, Tests, as well as terms such as Background, Structure, Signs of Strength and Signs of weakness. There is a term in structure called Shortening of the Thrust.

I to am studying Wyckoff, on my own and I have read many books on the subject. I am now reviewing a Book by David Weiss called "Trades about to Happen." I read the book last year but I really did not understand it, it wasn't until I started learning other methods of trading that Wycloff material started to come to me. So I opened David Weiss's book again for review. I also watched a Big Mike video on Wyckoff and it started to make more since. But I am starting to see that I am having a different way of looking at Wyckoff than what is shown on charts and print material. Like shortening of the thrust. In David's book he says that shortening of the thrust is measured as the distance between the highs and lows of a trend and that shortening the distance is a way of determining the thrust and the turning point of the trend. In shortening of the thrust if the supply line is touched but the demand line is not (bars not reaching the demand line) in an uptrend would this just be a change in behavior or something else. As demand is now higher than it was previously.


Last edited by JJtrade; June 18th, 2014 at 12:17 PM. Reason: spelling
Reply With Quote
The following user says Thank You to JJtrade for this post:
 
  #1362 (permalink)
Elite Member
Naperville IL
 
Futures Experience: Intermediate
Platform: ninjatrader
Broker/Data: NT broker
Favorite Futures: NQ ES 6E GC CL
 
Posts: 954 since Feb 2010
Thanks: 1,184 given, 650 received


JJtrade View Post
I to am studying Wyckoff, on my own and I have read many books on the subject. I am now reviewing a Book by David Weiss called "Trades about to Happen." I read the book last year but I really did not understand it, it wasn't until I started learning other methods of trading that Wycloff material started to come to me. So I opened David Weiss's book again for review. I also watched a Big Mike video on Wyckoff and it started to make more since. But I am starting to see that I am having a different way of looking at Wyckoff than what is shown on charts and print material. Like shortening of the thrust. In David's book he says that shortening of the thrust is measured as the distance between the highs and lows of a trend and that shortening the distance is a way of determining the thrust and the turning point of the trend. In shortening of the thrust if the supply line is touched but the demand line is not (bars not reaching the demand line) in an uptrend would this just be a change in behavior or something else. As demand is now higher than it was previously.

would be good if you show on chart.

Reply With Quote
The following user says Thank You to supermht for this post:
 
  #1363 (permalink)
Elite Member
San Jose, Ca
 
Futures Experience: Beginner
Platform: Ninja
Broker/Data: AMP/CQG
Favorite Futures: Something moving
 
David_R's Avatar
 
Posts: 1,510 since Nov 2009
Thanks: 2,267 given, 2,371 received

Wyckoff and News


One of the things I learned in Gary Dayton's chart reading course was to avoid the news. Not news reports coming out that could affect day trading, but news about companies that may affect ones trading decisions.

Morgan Stanley reported a larger quarterly profit. I was curious to see what the stock had been doing and what it is not doing after the report. It's interesting to me that there has been a shortening of the upward thrust and when price exceeded the prior high it has sold off and is currently on the lows. I don't know if MS will close on the lows, or if it will continue to move higher or have a reversal, but I do find it's current behavior interesting and it will be interesting to see how the stock performs going forward.

If you were to ask me the question "do professionals use positive news to wrong foot the public?" I would answer yes, they do.

D
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Reply With Quote
The following 2 users say Thank You to David_R for this post:
 
  #1364 (permalink)
Elite Member
Christchurch, New Zealand
 
Futures Experience: Beginner
Platform: SC
Broker/Data: IB, BC, Dx Feed
Favorite Futures: US Equities
 
Neo1's Avatar
 
Posts: 422 since Jul 2014
Thanks: 470 given, 470 received


DrGary View Post
This is a big, fatal mistake virtually all traders make - i.e., focusing on the current bar and its volume and trying to figure out whether it's bullish or bearish and should I take a position. I am not trying to attack here - we all do this. I am trying to say that that approach is truly just guessing and not the way to trade this (or any) method, and certainly not what Wyckoff intended. Current market action needs to be put in context. But -- and it is a huge but, our eyes are naturally pulled to the right edge of the chart and our minds immediately begin to make judgments about what the eyes see. And, please, do check this out for yourself -- see if you don't immediately go to the right edge when you first look at a chart.

[

The chart reference included with the text above(posted by DrGary on page 5) is a brilliant example of bearish price structure, i'd call it text book. It's an excellent reference point.

I've noticed with these types of discretionary setups, people are often guilty of "Creating" low quality formations that manifest losing trades. You shouldn't have to create anything, valid formations will create themselves. A valid setup/formation should be something you have specifically identified the parameters of, and is what you class as a A+ formation( something that makes you the most amount of money). When you get to this point, then it's far less discretionary and much more mechanical. If something in a potential setup doesn't add up, and you start trying to rationalize it, so you can still call it an A+ setup, then you're guilty of "creating" or curve fitting . You should only be looking to trade A+ setups with near perfect formations that you have no question about taking, since you've identify that specific formation as your A+ setup. If you end up 2nd guessing yourself then something is usually wrong- even if the trade goes in your favor.

Also, if you're only trading the ES/NQ then you can hardly expect to see quality formations every day, where as someone who trades stocks & various futures markets might have a greater chance of identifying quality setups, they'll also have a greater perspective of how formations change depending on the market/ticker/timeframe you trade.

Reply With Quote
The following user says Thank You to Neo1 for this post:
 
  #1365 (permalink)
Trading for Fun
Lagos, Ikeja. Nigeria
 
Futures Experience: Intermediate
Platform: MT4, NinjaTrader
Favorite Futures: Forex
 
Posts: 55 since Apr 2012
Thanks: 13 given, 62 received


Neo1 View Post
The chart reference included with the text above(posted by DrGary on page 5) is a brilliant example of bearish price structure, i'd call it text book. It's an excellent reference point.

I've noticed with these types of discretionary setups, people are often guilty of "Creating" low quality formations that manifest losing trades. You shouldn't have to create anything, valid formations will create themselves. A valid setup/formation should be something you have specifically identified the parameters of, and is what you class as a A+ formation( something that makes you the most amount of money). When you get to this point, then it's far less discretionary and much more mechanical. If something in a potential setup doesn't add up, and you start trying to rationalize it, so you can still call it an A+ setup, then you're guilty of "creating" or curve fitting . You should only be looking to trade A+ setups with near perfect formations that you have no question about taking, since you've identify that specific formation as your A+ setup. If you end up 2nd guessing yourself then something is usually wrong- even if the trade goes in your favor.

Also, if you're only trading the ES/NQ then you can hardly expect to see quality formations every day, where as someone who trades stocks & various futures markets might have a greater chance of identifying quality setups, they'll also have a greater perspective of how formations change depending on the market/ticker/timeframe you trade.

I agree with classic. This is a trade I would definitely take. This is how I see it in the attachment
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Reply With Quote
The following user says Thank You to metobi1 for this post:
 
  #1366 (permalink)
Elite Member
Christchurch, New Zealand
 
Futures Experience: Beginner
Platform: SC
Broker/Data: IB, BC, Dx Feed
Favorite Futures: US Equities
 
Neo1's Avatar
 
Posts: 422 since Jul 2014
Thanks: 470 given, 470 received


metobi1 View Post
I agree with classic. This is a trade I would definitely take. This is how I see it in the attachment
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

I was actually referring to this chart here, posted by Dr Gary on page 5.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


This for me is a dream example of an intra day bear setup, however my interpretation of it is different than Dr Garry's. For me price breaking the D low( on good volume) is a key component because in the one bar/ thrust it also breaks all other key levels marked B( where I've added to the chart an additional support/ resistance line), which should of acted as support if price was still moving up. Price then consolidates around the swing low of B, on low volume, and fails to find enough strength to even 'touch' the D low( this creates a small gap, and gaps often mean there's alot more left in the move). Price then falls further on heavy volume, and rallies back on small volume to find Resistance at B, and still under the previous swing high(3), which keeps the pattern of lower highs, and lower lows in tact. I guess you could almost call this a type of inverted spring( Although i wouldn't)

Anyway i just though i'd point this chart out, since it's the kind of structure i'm always looking for on an intra day basis.

I do like the spring setups, however they're very open to interpretation and shouldn't just be based on one time frame. I also feel you really need a good understanding of how each ticker trades before you take them. I think people who trade them with success have usually created their own interpretation/ contextual bias, based on what works for them. What I like most about these types of setups is the risk vs reward. Since you're using good trade location, you can often get away with using very tight stops above/ below key reference points.

...Just to add to my earlier post about people "creating" poor setups. I think it's very dangerous to be alerted to a particular ticker for some fundamental/ news related reason, and then start looking for spring setups etc when you already have a bias towards the direction you think price is heading. This is destined for disaster IMO.

Reply With Quote
 
  #1367 (permalink)
Trading Apprentice
kingston
 
Futures Experience: Intermediate
Platform: ninja
Favorite Futures: es
 
Posts: 17 since Jul 2014
Thanks: 2 given, 0 received

i am looking to disscuss es trading on skype please
i can be reached at joseph777744
thank you
joe

Reply With Quote
 
  #1368 (permalink)
Elite Member
San Jose, Ca
 
Futures Experience: Beginner
Platform: Ninja
Broker/Data: AMP/CQG
Favorite Futures: Something moving
 
David_R's Avatar
 
Posts: 1,510 since Nov 2009
Thanks: 2,267 given, 2,371 received


Neo1 View Post
I was actually referring to this chart here, posted by Dr Gary on page 5.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


This for me is a dream example of an intra day bear setup, however my interpretation of it is different than Dr Garry's. For me price breaking the D low( on good volume) is a key component because in the one bar/ thrust it also breaks all other key levels marked B( where I've added to the chart an additional support/ resistance line), which should of acted as support if price was still moving up. Price then consolidates around the swing low of B, on low volume, and fails to find enough strength to even 'touch' the D low( this creates a small gap, and gaps often mean there's alot more left in the move). Price then falls further on heavy volume, and rallies back on small volume to find Resistance at B, and still under the previous swing high(3), which keeps the pattern of lower highs, and lower lows in tact. I guess you could almost call this a type of inverted spring( Although i wouldn't)

Anyway i just though i'd point this chart out, since it's the kind of structure i'm always looking for on an intra day basis.

I do like the spring setups, however they're very open to interpretation and shouldn't just be based on one time frame. I also feel you really need a good understanding of how each ticker trades before you take them. I think people who trade them with success have usually created their own interpretation/ contextual bias, based on what works for them. What I like most about these types of setups is the risk vs reward. Since you're using good trade location, you can often get away with using very tight stops above/ below key reference points.

...Just to add to my earlier post about people "creating" poor setups. I think it's very dangerous to be alerted to a particular ticker for some fundamental/ news related reason, and then start looking for spring setups etc when you already have a bias towards the direction you think price is heading. This is destined for disaster IMO.

Just to be clear about something. I never said I was looking for a setup based on news or fundamentals. I said I had learned from Dr Gary to be cautious about news and to basically ignore it. When I saw the headline regarding earnings for MS I thought it would be interesting to look at the chart as an experiment. I annotated the chart based on what I saw, but never said there was a setup.

D

Reply With Quote
The following user says Thank You to David_R for this post:
 
  #1369 (permalink)
Elite Member
Christchurch, New Zealand
 
Futures Experience: Beginner
Platform: SC
Broker/Data: IB, BC, Dx Feed
Favorite Futures: US Equities
 
Neo1's Avatar
 
Posts: 422 since Jul 2014
Thanks: 470 given, 470 received


David_R View Post
Just to be clear about something. I never said I was looking for a setup based on news or fundamentals. I said I had learned from Dr Gary to be cautious about news and to basically ignore it. When I saw the headline regarding earnings for MS I thought it would be interesting to look at the chart as an experiment. I annotated the chart based on what I saw, but never said there was a setup.

D

Fair enough David, I wasn't trying to criticize what you were doing. I like the charts you've posted btw, and hope you keep posting more.

What I described was really just a general observation I've noticed when it comes to identifying setups. Whenever you look at a chart once you already have some type of fundamental bias, then it's so much easier for that bias to manifest itself in the way you interpret the chart, maybe without you even knowing. Just something to think about anyway...

Reply With Quote
 
  #1370 (permalink)
Trading Apprentice
kingston
 
Futures Experience: Intermediate
Platform: ninja
Favorite Futures: es
 
Posts: 17 since Jul 2014
Thanks: 2 given, 0 received

NASD indicator for sp


hi does anyone use the NASD as a lead indicator for SP
and the SOX for lead indicator of the NASD
thanks joe

Reply With Quote

Reply



futures io > > > Wyckoff Trading Method

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Webinar: Wyckoff Method Tuesday, May 10th @ 4:30 PM Eastern Time DrGary The Elite Circle 23 January 27th, 2016 10:50 PM
TF trading using CCI method-it works ESFXtrader Emini Index Futures Trading 426 December 21st, 2014 07:27 PM
A simple trading method that produces results. kevinhenjum Elite Automated Trading 29 November 9th, 2011 11:00 AM
GomCluster Trading Method RODLM Elite Automated Trading 10 October 28th, 2011 07:05 AM
Is here anybody who is trading Felton method? Experiences? redford007 Trading Reviews and Vendors 3 June 6th, 2011 06:01 PM


All times are GMT -4. The time now is 02:32 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-14 in 0.16 seconds with 20 queries on phoenix via your IP 54.221.76.68