mister ed

Hi JJ - There is not an abundance of good Wyckoff material on the net, only a few sites. There is the Yahoo group run by Gassah (who contributes to this board and this thread), this is at: http://finance.groups.yahoo.com/group/Wyckoff-SMI/ There is a broker site with material, at: http://www.ltg-trading.com/site%20map.htm with archives at http://www.ltg-trading.com/archives.htm Gassah put me onto this info at: http://siliconinvestor.advfn.com/subject.aspx?subjectid=54872 I learnt a lot on Wyckoff from a poster on other forums, goes by the name of 'motorway' on Australian Stock Forums and The Chartist forums. While the specifics and charts of what he talks about refer to Australian equities, most of the posts are more to do with principles, which are of course applicable to any liquid, exchange-trade instrument. If you search for his name on http://www.aussiestockforums.com/ and http://www.thechartist.com.au/forum/ubbthreads.php you will get great info. Motorway put me onto this website, which introduces Wyckoff really well, in a straightforward manner: http://www.stockmarket-operator.com/ Really good as introductory material. Nearly forget, there are many articles around by Hank Pruden, do a search for his name and there are quite a few pieces. He has written a book recently, which I haven't read yet, and runs a course in San Francisco. Also, articles around by Coppola and Forte. (Sorry I don't have links, but they are easy to find). OK, paid resources are even fewer. There are books by Richard Wyckoff himself, check them out at Amazon or wherever. There is his 'Day Traders Bible' which can be found as a free download around the place too. There is a book by Jack Hutson: Charting the Stockmarket, The Wyckoff Method. I found it a difficult read, probably because I thought it was an introductory text, or beginners text. It is much more than that and as your knowledge grows of Wyckoff it pays re- and re-reading, there is a lot in it. This book is really cheap, its $14.95 at Amazon and its value is much much more than the better marketed technical analysis books out there. Then finally there is the Wyckoff course run by the Stock Market Institute, at: http://wyckoffstockmarketinstitute.com/ There are free resources on this site at http://wyckoffstockmarketinstitute.com/corner.htm The article at http://wyckoffstockmarketinstitute.com/goal_article.htm is great introductory material. Thats it - if you find other resources, post them up!

There are those on this thread that use TG and those that don't. Maybe it takes a bit longer to learn without TG, but after 7 months you are well on the way now. Might not feel like it sometimes, but you are ("they say the darkest hour is right before the dawn"). I have said it before on this thread and will continue to do so, but studying up on Wyckoff analysis made a big difference for me. If nothing else*, using broader Wyckoff analysis will highlight what the 'background' is. I never found the 'playing field' concept useful (but many others do - different strokes for different folks) and so found getting a grasp on the 'background' (which is critical) difficult. More to learn? Certainly is for me too. Me too. But don't forget to follow PivotProfiler's (an others) links to the dbphoenix threads; these can be helpful too. ----------- * "If nothing else" - This is a stupid thing for me to to say about Wyckoff analysis, there is a HUGE amount to be gained by using Wyckoff's approaches.

DarthTrader - can you let me know if you find the Paul Tudor Jones talk - always worth listening to guys like him.

Hi Sledge - I have drawn in 4 vertical lines, just so I can line up the price and volume and also 2 horizontal lines, where the price topped out previously. Also, this is all with the benefit of hindsight, and it is easy after the event, The move up marked with the 1st vertical line is on increasing volume, it clears the lower of the horizontal lines but look where it closes - pretty much on the low of the price bar - this is evidence of supply (weakness entering on an up bar). The next bar is still high relative volume, but declining a little, the close is strong but no new high made - there is demand there but it is meeting supply. The third marked bar, still on high volume, no new high, closes on its low, supply overcoming demand. The final marked bar, highest volume, makes a new high marginally but the close is in the middle. Supply is overcoming demand. Also, there is a previous top marked by the upper horizontal line - supply seems to be entering ahead of this area where supply previously overcame demand. 4 bars attempted to go higher, each time the entire push was retraced in the same bar (bar 1) or on the following bar - this is not evidence of demand absorbing the supply. Thats how I see it, but I am a learner too!

You are welcome James, looking forward to filling up my notepad on the 7th! (whoops, it will be the 8th for me too). I have found a few articles on the web about Richard Ney and copied them into a document, with sources noted so if anyone wants to go the originals they can. It is attached. Richard Ney.doc

Hi Sledge - I dont trade FX but can access charts over the web - but these charts dont give any indication of volumes at all - is it possible to post a cable chart with volumes(tick activity a better description in FX)? You ask an interesting question and would like to check it out.

I have just registered to attend Thanks James, really looking forward to this

Thanks James - these videos are excellent - well done on the trade too!

Another point I should mention about Investor R/T is my experience with the high frequency of updates to the software. Updates provide fixes to bugs but probably just as importantly add requested and spontaneous improvements to the software - it is like there is a 'constant improvement' policy. Improvements are normally incremental, but they build on each other and add functionality/ease of use. Actually upgrading is simple, almost a one-click operation.

Have a look at this thread - has some MP on excel.

I thought it was spam too, for the reasons stated already ... but if not then happy to hear about the technique.

Thanks PP and Jerry - clarifies some things. Jerry, your threads (linked in quote above) are outstanding.

Is it possible to attach a file to a PM?

James - thanks a lot for the video showing this trade, really makes it clear what you were doing and why

Nicely done guys.

James - thanks for the charts, the I R/T charts are nice and clear ... looks like trade ideas today might fizzle out from now until the FOMC announcement

Thats a really good point...scary.

Let me start with two specific questions for MP/EPH users. Is the POC price derived from a MP going to be the same as a POC derived from an EPH? (I think the answer is obviously yes). Are the VAH and VAL prices derived from a MP going to be the same as the VAH and VAL prices derived from an EPH? (This one I think is not so obvious, but I cannot see that the VAH and VAL prices derived from the two processes will vary with any significance). Actually three questions - am I asking the wrong questions here?

Well, you know torero, I am not sure I agree. It is why I started this thread ... let's get some feedback from MP users, and Ensign PH (Price Histogram) users on what the differences are. Let me admit some biases: I don't use Ensign.* I don't use MP (I am familiar with the basics of it).* So, there is probably no-one less qualified on the board than me to start this thread , but I would like to hear the various points of view. With my limited knowledge of MP I am starting with the point of view that the differences between MP and EPH are minor and insignificant - but I am more than happy to be shown otherwise. -------------------- * I don't use Ensign but I think it is a fantastic program with fantastic support that was only just edged out by I R/T for me. * I don't use MP but I can appreciate the thought and effort that goes into using it by its practitioners, and I can see how it could add a lot of value to its users trading.

Absolutely right James - I posted this reminder for that very reason - and more to remind myself too.

Reminder: 2.15 pm EST the interest rate statement is due to be announced by the Federal Reserve.

OK, I better get involved in this thread... Back on track, very interesting idea for a thread BF, and very interesting come back from thrunner. I read somewhere recently of an idea to open up the CME contracts to alternative exchanges, sort of like all the different ECNs on the Nasdaq - didn't bookmark it though so cant find it again.

There are differences between MP and the 'Price Histogram' used instead by Ensign - would it be worthwhile discussing the differences here with a view to ascertaining how significant these differences are? From the Ensign website: "The histogram on the left side of the chart is drawn during the day in five-minute increments. The length of each horizontal line in the histogram represents the amount of time that the market spent at that corresponding price. " So, instead of letters to signify each 5-minutes/half-hour (or whatever time increment being used) we have a horizontal line summing the TPOs (the link above will take you to an example of an Ensign Price Histogram chart). How does this effect the use of MP? Does it change the calculations for POC, VAH, VAL? (I think the answer to all 3 is no). How else does it cause differences to MP? Is it a better display than MP? I am not deeply knowledgeable of MP, so I ask these questions of those who are more knowledgeable than me. This is not an academic exercise either, to me Ensign is a strong competitor to other charting packages, the information and knowledge we gain here will be useful to those considering Ensign as their charting package.

There are differences between MP and the 'Price Histogram' used instead by Ensign - would it be worthwhile discussing the differences here with a view to ascertaining how significant these differences are? From the Ensign website: "The histogram on the left side of the chart is drawn during the day in five-minute increments. The length of each horizontal line in the histogram represents the amount of time that the market spent at that corresponding price. " So, instead of letters to signify each 5-minutes/half-hour (or whatever time increment being used) we have a horizontal line summing the TPOs (the link above will take you to an example of an Ensign Price Histogram chart). How does this effect the use of MP? Does it change the calculations for POC, VAH, VAL? (I think the answer to all 3 is no). How else does it cause differences to MP? Is it a better display than MP? I am not deeply knowledgeable of MP, so I ask these questions of those who are more knowledgeable than me. This is not an academic exercise either, to me Ensign is a strong competitor to other charting packages, the information and knowledge we gain here will be useful to those considering Ensign as their charting package. Actually, I will start this in a new thread, here.

Well, its 1 am here, waiting for ES RTH to open (1.30 am). It is about 75 F, just thought I would let all you guys in the northern hemisphere know ...