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Wyckoff Trading Method
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Wyckoff Trading Method

  #301 (permalink)
Sharpening mental edge
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Really great thread david, and nice videos as well. WTG

Very good reaction off the h1 demand area on crude so far

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  #302 (permalink)
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Video for June 10, 2011

Video for Friday June 10, Its long (25 min+), but I cover Crude, Gold, 6E and TF. I wanted to add 6E and TF since I posted charts on those two the other night.

David



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  #303 (permalink)
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@StockJock



ok well .. i dont trade stocks atm , so i dont follow wyckoff´s steps .. what i do thou is reading the charts in wyckoffs way .. also i use PF charts only for cause and effect .. ie price target projection ...


my trading style is based on reading charts (price action , volume) wyckoff style ... but i dont use wyckoff wave
also u wont find classical charts where u can pinpoint 9 buying and selling tests .. i rather stick to charts wich speak to me .. not trying to fit something in there ...


attached is a bar by bar analysis doen by wyckoff on NY Times Average 50 stocks from 1930-31,

also check the wbinar archieve of LTG Trading - Webinar and Chat Room Archives where there are several videos
of gary fullet teaching wyckoff bar by bar analyisis .. good stuff


cheers

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  #304 (permalink)
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StockJock View Post
I see that in the Yahoo quotes the ticker is CLN11.NYM.

Jan F, Feb G, Mar H, Apr J, May K, Jun M, Jul N, Aug Q, Sep U, Oct V, Nov X, Dec Z.

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  #305 (permalink)
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Fibos work (more often than not) when correctly set up -

Trend -

I kindly disagree with you. FIBO is not an illusion but its own fulfillment of what it prophesies.

See attached chart. This happens day in and day out. FIBO based on the previous ETH session HI/LOW -

Use 127.2 / 161.8 / 261.8 and 423.6 if need be.

COTtrader
"Ken"



trendisyourfriend View Post
I think that the more lines you add on a chart the more you increase the risk to lower the efficiency of your method. Here is a controversial article about Fibonacci levels that talk about Fib levels in a more persuavive way:

6.18 Reasons Why Fibonacci Is An Illusion | Articles-Technical-Analysis


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  #306 (permalink)
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@PrymeTyme


PrymeTyme View Post
@StockJock
... also i use PF charts only for cause and effect .. ie price target projection ...

What program do you use for PnF charts?

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thanks for your evaluation ...

Osijek,

Thank you for your personal evaluation. Others have noted what you described that it isn't really necessary. One beneficial aspect of the charting is the 3rd party add on from Powercharts built off of VSA but uses moving average momentum for entry timing. Currently, I continue to swing in the direction of planning my trades around overbought areas of a market using Market Profile with fibo extensions. Essentially, VSA and MP Value trading are both complimentary styles that nicely dovetail together. However, parting with the now $2000 price tage is a little more than I am willing to do. I would prefer to rent it on a monthly basis and then could dump it if I found out that I did not need it. Perhaps that is what other traders were doing when they leased it because leasing is no longer an option.

Anyway, thank you for the guidance and counsel. It is very appreciated.


COTtrader
"Ken"



osijek1289 View Post
Hi COTtrader, I practice many of VSA's elements in my trading and have some hands-on experience with older versions of TradeGuider, but also have some colleagues who use the current version, and most of them will tell you Tradeguider is not necessary if it is VSA you are looking to learn or trade.

As a charting package, it is frankly terrible, certainly so compared to TS and NT. Thus, it's only redeeming characteristics are the VSA signals it will throw up, and, as you mentioned, the scanner. I have found that the scanner usage of one of those "if I only had it, I'd use it" things, but ultimately, most people don't end up using it because it's ultimately too much to follow for many people, just like many of us don't trade more than a handful of instruments.

On learning VSA, it (Tradeguider) is absolutely not necesssary, but might make it easier. Problem is, the signals can become a crux after some time, and, often prevent one from learning to interpret the volume bars and price bars independently.

You may have seen that they now have TG plugin modules for TS, Sierra Charts, Metastock, ESignal, Infinity Futures, and MT4. None of them have the multi-instrument scanning ability that the standalone TG charting package has. Ironically, MT4 is the one with potential further programming/pattern recognition scanning ability - Gavin has mentioned in his seminars that they are looking at introducing this (as well as starting up a hedge/trading fund, to trade VSA signals/instruments). With the TS version, I am not sure if the EasyLanguage Function can be used to receive VSA signals - my suspicion is that it cannot. (I am mentioning this if, one were a programmer, scanning could be automated.)

Further on learning VSA, Gavin has been giving away Master The Markets, which is considered one of the most important books on learning VSA; it's the kind of thing you read many times, try to apply, reread, and repeat. He has also recently published a net new book which is chargeable, but has distributed a 29-page (or so) common VSA patterns, for free. The 2 publications I've mentioned as 'free' have been made available to webinar attendees, so I don't see any copyright infringement to anyone who did not source them from there.

And I agree that eSignal isn't necessary, especially if one has a futures feed. I suppose if stock/equity data is desired, the eSignal data feed could be necessary, if your broker is not already pushing volume data to you. One of eSignal's most unique features for spot forex is it's pooling of 200+ institution's forex pair tick volume data into one real-time feed, but frankly, a decent MT4 broker can be used for this (running with BetterVolume in MT4) if spot forex pair trading is desired. Hope some of that is of help.


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@PrymeTyme



What program do you use for PnF charts?



HI StockJock


i use MT4 platform with a PnF indicator


cheers

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heres a silly thing i made showing what for me are the single most reliable entries in terms of hit rate and r:r

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PrymeTyme View Post

check the wbinar archieve of LTG Trading - Webinar and Chat Room Archives where there are several videos
of gary fullet teaching wyckoff bar by bar analyisis .. good stuff


cheers

I watched the webinar for 6/5/11. Gary knows his stuff, but one thing he was wrong about was the s&p. He was trying to prove someone wrong in the chatroom that the s&p was not going down. He was arguing with this individual in the chat room for a while. Well, he was wrong. It proves to show the one's with the most knowledge can be wrong.

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