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Wyckoff Trading Method
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Wyckoff Trading Method

  #651 (permalink)
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There lots of materials on the internet about Wyckoff that includes explainations of the method as well as discussions in forum, but there's not much in the detail of the method as covered in the Wyckoff Stock Market Institute training. Their website seems to indicate that the materials have been rewritten or reformatted into their latest editions. Has anyone purchased and studied SMI's course materials? Does anyone know that SMI has a newsletter from their blog Studying the Wyckoff Wave?

I'm sure that Dr. Gary Dayton's seminars are good. Gary Fullett and David H. Weis also have excellent seminars. Dr. Hank Pruden has academic classes in Wyckoff's method at the Golden Gate University School of Business in San Francisco. Both Dr. Dayton and Dr. Pruden also include trader psychology in their training which is also very important. I think it would be good to learn from all of them.


Yes, there are a number of avenues to study. For Dr. Pruden's work you need to have prerequisites under your belt to take his Wyckoff classes, I think. He also has a seminar that is either a weekend or more, but it was over $4000. Too rich for me. I'm sure Gary F. has seminars, but I did not know about him and what he offered until he started posting here. I have David Weis's DVD set when he was a guest with A. Elder. It is good, but not in depth. Gary D. course it fairly in depth. He spends a lot of time on market structure. This is something I never even used to consider, but you can gain a fair amount of insight from the structure. I'm not trying to sell anyone, just puting it out there. In the end it takes a lot of chart time and practice.

I have not taken the SMI course.
D

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  #652 (permalink)
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If I'm not mistaken, the Wyckoff method is to help traders see the footprints of the market manipulators by using both the price and volume of the trading instrument. So I'm researching and studying resources that reveal strategies used by these manipulators and relating them to what I see on the charts. I seem to remember when viewing some of Gary Fullett's online video lectures that he sometimes makes brief remarks as to what these manipulators are doing at certain points on his charts.

If you guys think this is helpful, here is a video that I recently found on this subject. Market Makets and how they manipulate the markets / stop out traders If this is not relevant to the Wyckoff method please let me know.

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  #653 (permalink)
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David, the guy charges $150/hour and it is a group training. That's not 8 weeks of training either but 8 sessions. Seriously, what can you learn within 12 hours? Is he a dream merchant? Curious to see that many trading gurus are Doctor.


David_R View Post
Yes, there are a number of avenues to study. For Dr. Pruden's work you need to have prerequisites under your belt to take his Wyckoff classes, I think. He also has a seminar that is either a weekend or more, but it was over $4000. Too rich for me. I'm sure Gary F. has seminars, but I did not know about him and what he offered until he started posting here. I have David Weis's DVD set when he was a guest with A. Elder. It is good, but not in depth. Gary D. course it fairly in depth. He spends a lot of time on market structure. This is something I never even used to consider, but you can gain a fair amount of insight from the structure. I'm not trying to sell anyone, just puting it out there. In the end it takes a lot of chart time and practice.

I have not taken the SMI course.
D


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  #654 (permalink)
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shame o shame, i forgot the father himself:

Richard D. Wyckoff.

His books are available used for nothing:

Studies tape reading - AbeBooks

Perfect for reading in your bathtub


Last edited by puma; April 5th, 2012 at 08:29 AM.
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  #655 (permalink)
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puma View Post
shame o shame, i forgot the father himself:

Richard D. Wyckoff.

His books a available 2th hand for nothing:

Studies tape reading - AbeBooks

Has the SMI Tape Reading Course recently been added or has it always been there? Does SMI have people to answer simple questions like mine? It looks as though they restructured their courses. How long do they give you to complete the course?

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trendisyourfriend View Post
David, the guy charges $150/hour and it is a group training. That's not 8 weeks of training either but 8 sessions. Seriously, what can you learn within 12 hours? Is he a dream merchant? Curious to see that many trading gurus are Doctor.


No, I don't think he is a dream merchant. He doesn't make any promises and clearly states that what he teaches takes work and practice. I hear what you are saying about him being a trading guru. I think we all need to decide for ourselves what we are willing to do to learn. Its true that we need to pay for the time he puts in to present, but at least he is not selling thousands of dollars of indicators. True, it is only 8 sessions and comes to 12-16 hours or so, but a lot of the work needs to be done after the class. Looking at charts and trying to find the same kinds of indications over and over again. I don't know if the same info in a similar format is available at a lower cost. Maybe i should get the Wyckoff book. Some books don't make the information understandable, or easier to understand.

I also think if money is an issue GD will be flexible in the cost of the class. When I first took it I paid less and everyone was saying it he should charge more.

When I see others out there charging $7500 for 4 day mentorships that also sell indicators, that makes me more uncomfortable than someone teaching chart reading.

D

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Shame o shame II:

Traders dont die, but copyright does.

Found this (public domain and free):

Richard D. Wyckoff. Studies in tape reading
Studies in tape reading : Wyckoff, Richard Demille, 1875-1935 : Free Download & Streaming : Internet Archive

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SMI was founded by Wyckoff himself.

It was later led by one of Wyckoffs students Mr Evans.

Its old school - I like old school.

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Gary,

What information should I be looking for in this? This is a chart for bonds, not stocks? Are you looking for an inverse relationship to stocks?

The markets have been focused with the Fed doing QE3. This has added liquidity to both bonds and stocks, which has caused them to rally over the past many months. Without the liquidity pumped into the market, the market is forced to stand on it's own. So then the markets will be focused on the economy versus the Fed printing money. This most likely will allow bonds to go lower in favor of buying stocks.


Quoting 
Is there something in your chart that would give an indication of a sudden drop on the 30 Yr Treasury Bond chart?


Not necessarily a sudden drop, but more of a trending down move.

Gary

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