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In Wyckoff's course, he recommends that the student start with a papermoney account; although he doesn't use that specific term. He says that once the student gains confidence in this practice that he can then use real money. Also, if the student finds that he is not doing well with real money that he should return to the practice account to polish his skills. The cycle of trading practice and actual practice will help in the learning process.
I only mentioned the chart patterns, because I saw the triangle pattern on your chart.
Actually, it's Evans, not Wyckoff. But this is not to say that the information won't be worthwhile. Whether it's more complicated than it needs to be is another matter.
I understand, but it's not a triangle, at least not a "triangle" as the pattern people use the term. It is the result of certain trader behaviors, and if one doesn't understand the behaviors that create it, he won't trade it properly. Which is why W calls it several things, including "hinge", not attaching any importance to the name. You'll note here, for example, that what might have been a hinge was aborted early into a trading range. The location of this range made the downside more likely. But the fact of the range made entering the trade a bit more difficult.
Prof. Hank Pruden's book "Wyckoff by the Action-Sequence Method" whether its the Evan's published method or the DbPhoenix published method shouldn't be too far off from the Wyckoff method.
In Prof. Pruden's publications, I see more chart analysis that looks like Wyckoff's than I generally see in any discussion forum. This image is from the brochure for the class at Golden State University. https://dl.dropbox.com/u/28936803/WebinarOffer-Jan.2%2C%202013.pdf
Good point. Didn't Wyckoff use PnF charts? I'd like to see some discussion on Wyckoff's method of using PnF charts like I tried to start several times earlier in this thread.
So would I, but it's difficult to drum up interest. The thread at TL has been jump-started and ground to a halt several times over the past five years, but I don't know why. Apparently people don't pursue it because I have no interest in it, but I can't see why that should make any difference. The value of something has to be determined by one's own experience with it.
