mister ed

Try stockcharts.com or bigcharts.com or barchart.com - might be what you are looking for?

Hi Winnie - good question and one I am sure many have. A good resource to study is Master the Markets as it answers many questions such as yours.

Thanks Eiger - great primer it is too, really helpful thank-you!

Well, that is ET's loss and now TL's gain. MRW - have a read of the reviews Db's book is getting on this thread, this is high praise indeed. Db will not promote his book, he leaves it to the comments of his readers, and his confidence in doing so is justified.

Seb - your watch is a bit fast - next week is normal trading sessions in the US.

Great news. Welcome back Walter!

Hi zdo - They have been moved to the Zen/Poker thread.

I hear ya Kiwi - avoiding the Krudd is difficult (baby kisser extraordinaire) but well worth it.

BF - If you are doing another submission soon could you place on it a request for OEC to integrate with Investor R/T. OEC integrates with various 3rd party softwares but I R/T is not one of them. I have mentioned doing so to I R/T, would you be able to submit it to OEC (sort of get them all surrounded!)? Thanks

Hi Winnie - I think your questions are ones only you can answer once you learn the Wyckoff approach. Have you checked out the new Wyckoff forum on TL - its still relatively new but being added to every day and will be of great assistance to you in learning Wyckoff.

Thanks Tom - appreciate the link, very interesting!

Thanks Winnie, good chart - what charting package is that? I will give you my opinion, but let me say first there are plenty reading this thread who are much better at analysis than me, so don't take what I say as the only view, hopefully you will get more responses than just me. My ideas are not going to be strict VSA either. After your entry you say you placed your stop at the day's low. I think (again, only my opinion FWIW) placing the stop a little below the day's low is probably a better idea. The day's low (so far) has already shown to have buyers (its the low...) so I would probably expect buying again there if the price dips. (Please note, placing a stop below the day's low in an example such as yours is no guarantee - there will be plenty of examples of a dip below the lows before a bounce - but not in this example). As the price moved in your favour you can use VSA/Wyckoff to monitor the position, and/or candlesticks and so on. This is all in hindsight of course, and real-time its faster and more challenging; the bar I marked with an arrow is showing a test into the congestion area on the left (also marked with an arrow), A test lower from here should not be a big surprise. On the 15-min candle chart I put up earlier the test (I call the upper shadow of the candle the test) is probably a bit easier to see on the candlestick chart. From an ongoing trade management perspective the stop could be brought closer if you think a move down would not surprise, and, if triggered and you were still bullish the position re-entered at a lower price with the stop re-instated at the initial level. This is just a trade management idea, nothing more. I am all for aggressive management of stops, it may not suit you. And, as I said, benefit of hindsight here. I know you seem to trading from the 15-min chart but it could be worth bringing up a lower time-frame bar, this may provide a better glimpse into the movements, but I don't know your trading style/goals. I trade a much quicker bar in the ES than 15-minute, but I have a different style/goals to you. A point and figure chart may be of assistance, such a chart does not rely on breaking the price movements up into particular, arbitrary time periods, but instead draws chart movement according to where the buying overcomes selling and selling overcomes buying. This is a bit of a rambling answer, hope it helps and other responses follow.

Hi Winnie - Here is the 15-minute chart (ignore the red horizontal lines they are not relevant to your question). You certainly picked the support zone and entry with style! What price did you enter at, where did you place your stop, and why? What were your ideas on where to take profit? Sorry for all the questions. p.s. Torero has posted instructions on how to upload an image into a post.

This is a useful article from Hank Pruden, and in it he explains one take on using the Wyckoff method. In the article you will see numerous references to how Pruden uses the P&F chart as part of the procedure for setting up buys and sells. The article is not about P&F itself, and frustratingly the only two P&F charts are drawn on only the last page of the article, but hopefully value can be found in it for the discussion started here, especially when read in conjunction with the two articles Gassah has linked in his OP. Link to article http://www.hankpruden.com/WyckoffBuy-sell.pdf Or, download from attachment, below. WyckoffBuy-sell.pdf

The posts above have been copied over from the VSA2 thread as a seed for this new thread - thank-you Eiger for your insights, advice, and starting this discussion.

The new thread is located in the Trading Psychology section of the board, titled Practical Trading Psychology. The thread is located at: http://www.traderslaboratory.com/forums/f37/practical-trading-psychology-3901.html Thanks very much for the insights Eiger and to all the contributors to this new topic - nice one!

Hi Winnie - perhaps if you could provide an example of the sort of thing you mean - some chart showing entry and so forth?

Much appreciated - thank-you forsearch!

The replay technology is very helpful isn't it? Great learning tool.

I want to second your thoughts here januson, I was learning a heap from this thread (for example, Sparrow brought up Chebyshev's Inequality, which cleared up some of my doubts about the use of 1 standard deviation as the value area). It is a real shame this thread has run out of steam. It is understandable, one poster who seems to have an axe to grind disrupted the thread so much that the valuable contributions just dried up. I was reading a post on another forum a couple of days ago and had a laugh at it, this is what it said: 4 rules for a ** thread 1) Split hairs to show everyone that you know more than the other poster 2) Contradict others, for the sake of contradicting - be a 'master debater' 3) Boast that you make more than everyone else, when you're really losing money, and use the grin or shades smily 4) Make sure the thread goes nowhere Like I said, I thought it was funny, but when it is happening to a thread you consider valuable its not funny any more! I don't know if this thread can be brought back to life ... I hope it can. Can I ask a couple of questions that maybe can kick-start the thread again. Why is the first hour of trading considered so important (the initial balance)? Why is it the first hour? Has anyone come up with ideas for what characterisitics might define an 'initial balance' better? Also, Hlm, you mentioned doing some work refining MP. Can you expand on what you are doing (only as much as you are comfortable with obviously, I don't want to pry into your private trading)? I hope we can resuscitate this thread!

Hi OAC. One thing I have noted with curiosity is the absence of Gann and Elliot related threads on our forum. While I am not a fan of either approach I respect those that are, the users of Gann and Elliot generally seem to put a lot of work into their studies, and am surprised the two fields have not been discussed at TL. The board seems to be attracting a lot of new participants so hopefully we can attract new fields and threads for discussion too.

Hey, this is cool! So we now have on TL a Candlestick sub-forum and a Wyckoff sub-forum - this is excellent and highlights the quality of this board. James is once again to be commended!

Re the point and figure charts a few posts ago I should add in addition to Gassah's software suggestions that I use Investor R/T for my live P&F charts. Investor R/T builds the P&F from tick data (as long as you have the data feed) and does so flawlessly.

Have to agree with you Wasp - this is a fantastic thread. It has been carried along by Milliard, Anna-Marie & Art (and Sledge for getting the ball rolling), and thanks to their great work is now attracting more fine contributors.

Db - would you not prefer the questions in the "Riding the Wyckoff Wave" thread?