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


Wyckoff Trading Method
Updated: Views / Replies:250,084 / 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 – 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 don’t 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

  #871 (permalink)
Elite Member
Portland, USA
 
Futures Experience: Intermediate
Platform: Ninjatrader
Favorite Futures: ZS
 
YertleTurtle's Avatar
 
Posts: 210 since May 2011
Thanks: 41 given, 343 received

I thought I would add a good free resource for people interested in Wyckoff:

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

Also David Weis has a book coming out soon that should be great due out in June:

Trades About to Happen: A Modern Adaptation of the Wyckoff Method (Wiley Trading): David H. Weis: 9780470487808: Amazon.com: Books

He is a very good teacher and taught Gary Dayton. Mike if you could get him to do a webinar I think everyone would find it very beneficial.

Reply With Quote
The following 4 users say Thank You to YertleTurtle for this post:
 
  #872 (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

one scalp

Took a scalp on ES 5 minutes. got 9 points

Hourly Chart has Retest of broken ICE

5 minutes has SOT at Creek of hourly frame.

LBR signal

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 supermht for this post:
 
  #873 (permalink)
Banned: Vendor self-promotion
Phoenix AZ
 
Futures Experience: Advanced
Platform: IB
Broker/Data: IB
Favorite Futures: NQ
 
DbPhoenix's Avatar
 
Posts: 470 since Dec 2012
Thanks: 95 given, 1,543 received


Greetings!

I was only recently made aware of this thread, which is unfortunate since -- based on the number of posts over the past few months -- it seems to have run its course.

Be that as it may, if anyone is interested in Wyckoff's own work rather than the modified materials discussed here, let me know.

Happy Trading

Db

Reply With Quote
The following 3 users say Thank You to DbPhoenix for this post:
 
  #874 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,354 given, 83,237 received

There is a more active and popular thread here:
https://futures.io/elite-trading-journals/18209-wyckoff-speculator.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.

Reply With Quote
The following 2 users say Thank You to Big Mike for this post:
 
  #875 (permalink)
Banned: Vendor self-promotion
Phoenix AZ
 
Futures Experience: Advanced
Platform: IB
Broker/Data: IB
Favorite Futures: NQ
 
DbPhoenix's Avatar
 
Posts: 470 since Dec 2012
Thanks: 95 given, 1,543 received


Big Mike View Post
There is a more active and popular thread here: bigmiketrading.com/elite-trading-journals/18209-wyckoff-speculator

Mike

Thanks, but I don't have access.

Db

Reply With Quote
The following user says Thank You to DbPhoenix for this post:
 
  #876 (permalink)
Banned: Vendor self-promotion
Phoenix AZ
 
Futures Experience: Advanced
Platform: IB
Broker/Data: IB
Favorite Futures: NQ
 
DbPhoenix's Avatar
 
Posts: 470 since Dec 2012
Thanks: 95 given, 1,543 received

A simpler Wyckoff:

Even though interday trendlines are of little to no importance to the intraday trader, prior trading ranges can and should be. Here, for example, though one might be tempted to consider the influence of the June-July trading range to have expired, the October and December trading ranges revolved around the top of that earlier trading range like pigs on a spit. Given also that price could not hold above the 50% retracement of the last downmove (the green level) despite multiple attempts suggests further downside, and given that that June-July trading range appears still to be exerting an influence on present price movement (not unlike a moon), 2580 becomes a level of interest.

Sometimes, however, price will find support in unexpected places, as yesterday during the lunch hour. Interested students should study that plunge and recovery so that they might recognize it the next time it occurs.

Attached Thumbnails
Wyckoff Trading Method-nq-100-daily-20121228063532.png  
Reply With Quote
The following 8 users say Thank You to DbPhoenix for this post:
 
  #877 (permalink)
Trading for Profit
Chicago + Illinois/USA
 
Futures Experience: Beginner
Platform: ThinkOrSwim
Favorite Futures: Stock
 
StockJock's Avatar
 
Posts: 256 since Aug 2010
Thanks: 15 given, 148 received


Big Mike View Post
What books would you guys recommend with for studying Wyckoff method, I mean in order of priority?

Mike



Last edited by StockJock; December 28th, 2012 at 11:31 AM.
Reply With Quote
The following 5 users say Thank You to StockJock for this post:
 
  #878 (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


DbPhoenix View Post
Greetings!

I was only recently made aware of this thread, which is unfortunate since -- based on the number of posts over the past few months -- it seems to have run its course.

Be that as it may, if anyone is interested in Wyckoff's own work rather than the modified materials discussed here, let me know.

Happy Trading

Db

DB,

I'd like to hear more about Wyckoffs own work, but specifically I'd be interested to know about his work and how it would relate to day trading. In other words, how would one find a set-up and what would indicate the entry as well as exits?

When you say "modified materials" are you referring to the use of indicators or intrad-day trend lines?


Thanks,

David

Reply With Quote
The following 2 users say Thank You to David_R for this post:
 
  #879 (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


DbPhoenix View Post
A simpler Wyckoff:

Even though interday trendlines are of little to no importance to the intraday trader, prior trading ranges can and should be. Here, for example, though one might be tempted to consider the influence of the June-July trading range to have expired, the October and December trading ranges revolved around the top of that earlier trading range like pigs on a spit. Given also that price could not hold above the 50% retracement of the last downmove (the green level) despite multiple attempts suggests further downside, and given that that June-July trading range appears still to be exerting an influence on present price movement (not unlike a moon), 2580 becomes a level of interest.

Sometimes, however, price will find support in unexpected places, as yesterday during the lunch hour. Interested students should study that plunge and recovery so that they might recognize it the next time it occurs.


DB,

Can/would you elaborate on what you said about yesterdays plunge and recovery? I view recent activity as being in a trading range and price "springing" at support. It may have, but there was no follow through today and your mentioned level of 2580 is just about there.

Also, Can you explain how and why it appears that the June-July trading range is still influencing present price movement? Please.

David

Reply With Quote
The following 2 users say Thank You to David_R for this post:
 
  #880 (permalink)
Banned: Vendor self-promotion
Phoenix AZ
 
Futures Experience: Advanced
Platform: IB
Broker/Data: IB
Favorite Futures: NQ
 
DbPhoenix's Avatar
 
Posts: 470 since Dec 2012
Thanks: 95 given, 1,543 received



David_R View Post
DB,

I'd like to hear more about Wyckoffs own work, but specifically I'd be interested to know about his work and how it would relate to day trading. In other words, how would one find a set-up and what would indicate the entry as well as exits?

Not exactly a short-answer kind of question, but I don't want to be overwhelming either.

There are several of Wyckoff's books available as you know. They can be found on Amazon. Unfortunately, while they're long on philosophy, they're generally short on how-to. For that, you have to go to his course, a two-parter, one of which has specifically to do with daytrading, both of which come to about 500 pages.

If the course is too much to tackle, at least to start with, Wyckoff did write a book called Studies in Tape Reading (also called My Secrets of Day Trading in Stocks), which was later reformatted into The Day Trader's Bible. Yertle Turtle provided a link to this above. However, since W didn't use bars in his intraday trading (how could he?), this may not be quite what you're looking for, even though there's much of value in it with regard to the dynamics of demand and supply and how they affect price movement.

As I said several years ago in my introduction to the Wyckoff Forum at TradersLab,
Wyckoff sought to develop a comprehensive trading system which (a) focused on those markets and stocks that were “on the springboard” for significant moves, (b) initiated entries at those points which offered the highest probability of success, and (c) exited the positions at the most advantageous time, all with the least possible degree of risk*. His favorite metaphor for the markets and market action was water: waves, currents, eddies, rapids, ebb and flow. He did not view the market as a battlefield nor traders as combatants. He counseled the trader to analyze the waves, determine the current, “go with the flow”, much like a sailor. He thus encouraged the trader to find his entry using smaller “waves”, then, as the current picked him up, ride the current through the larger waves to the natural culmination of the move, even to the extent of pressing one’s advantage, or “pyramiding”, as opposed to cutting profits short, or “scalping”.

“Trading Wyckoff”, then, is more than just relating price and volume. It is a complete trading strategy, ranging from finding the most attractive opportunities through strategy development and trade management to the best moment to close the trade, all with the least possible degree of risk.
And while all of this may sound great, the student is still left with "what do I do?", and that needs specific examples, whether with or without charts. But, in a nutshell, which is already the size of a walnut, W looks to see whether whatever it is is trending or ranging. This is a relatively simple task for someone who's just starting, but the longer one has been at this, the more difficult it seems to become due to the amount of misinformation and wrong turns the beginning trader experiences. But if one can distinguish between the two and is looking at a trend, he looks for pullbacks and how many of these have occurred, the "stride" or angle of the trend, and where all this fits into the context provided by prior trading ranges. If price appears to be in a trading range, he locates the extremes of this range and looks for reversals when price approaches one or the other.

There's more to this, of course -- breakouts, retracements, supply and demand lines, climactic moves (with and without accompanying volume) -- but it's all based on demand and supply and imbalances between the two as determined by studying the continuous flow of price. If one gets that, W can be relatively simple. If he doesn't, it can be next to impossible.


David_R View Post
When you say "modified materials" are you referring to the use of indicators or intrad-day trend lines?

Not exactly. Everything that's out there is "based on Wyckoff". As a result, there are many variations on W's own work, some of these variations being extraordinarily complicated, some of them requiring software, some of them involving taking courses and buying DVDs and hiring mentors and so forth. But W's work in the original is relatively simple: no indicators, no patterns, very little jargon (no "ice", no "creeks", no "springs", for example). What one might call "plain speaking". The Wyckoff geek can trace all of this back to the 30s with a little googling and decide for himself the motives behind the "complicating" (to coin a word). But once one peels the artichoke and gets to basic Wyckoff, he finds something very powerful and liberating, particularly if the trader has established a pattern of failure.

Hope that's not too much.

Db

Reply With Quote
The following 11 users say Thank You to DbPhoenix for this post:

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 02:55 PM.

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 2017-12-16 in 0.18 seconds with 20 queries on phoenix via your IP 54.163.209.109