mister ed

Thank-you - let's keep the Wyckoff resources coming!

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 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 here. 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/

VSA is based on one of Wyckoff's laws - Effort and Result - and so saying "none of this has anything to do with VSA" is not correct. The developers of VSA also note their debt to Richard Wyckoff's teachings. As per your suggestion I will start a thread entitled Wyckoff Resources.

gekko - what brownsfan, Hlm, forsearch and Torero have written above is food for thought, you really have to do the work yourself. I have a suggestion that may speed the process, may be worth a try. There is a chat room here on TL and through the US trading day a lot of the traders on the site chat about trades they have just put on. Maybe it could be worthwhile following along in the chat room, taking note of what they are doing then matching up the entries and exits to their posts on the concepts they use to trade - it might help bring the posts to life and accelerate the learning process. I haven't been in the chat room for a while (I have only been in there 3 times, I must admit I find the chat room distracts me too much from my own trading so I dont attend). From my 3 times in there I must point the finger at Hlm and walterw who were very active and forthcoming with what they were doing.

I should also add Gassah posts to the "Riding the Wyckoff Wave" thread here on TL too.

Eiger - that is a great post with the Point and Figure charts thank-you. I admire you for keeping them by hand - do you update them throughout the trading day? For such an apparently simple chart the Point & Figure is rich in meaning. I have been given much instruction in their use by a very valuable friend and mentor but feel I am still just scratching the surface in their application. For showing the build up of 'cause' and risk ... outstanding. On Wyckoff resources, I have posted before on what is around the net and will add to your link to the SMI-Wyckoff Associates link with a copy and paste of my previous posts...

What Db said, or, if you prefer a blog format you can start one here yes. Click on the "TL! Blogs" box on the menu bar near the top of each page.

Kiwi - I moved that post you linked to. You can use the big yellow "S" to report your own post to a mod and explain why (move, delete duplicate, etc.).

OK Sledge, you are trading FX ... answer this simple multiple choice question: Sleep is for: (a) pussies (b) weekends No waiting - the answer is b. PM on its way to you to suggest how to move from a to b :haha: OK - I seem to remember you posting something similar a little while back and there wasn't many takers then either. So, background is you want to be long and the market is about to move into the Asian timezone, where men are men and the women are ... will stop there This is my take on it: The first chart, 1: The best approach is to be awake when the price dips towards the line marked 1, about half-way between where it is now and the line marked 1 - this would be ideal as you could assess what's going on rather than just leaving a buy order. If not awake, though, buy just below the half-way point between where it is now and the the line marked 1, with stop below 2. Line 1 marks (approximately) the 'breakout' from the high volume congestion area at the base of the downswing. The second chart: Same comments re being awake is best. Again, background is you want to be buying as the thing is in an uptrend? OK - this, to me, is not as clear as the first example - the stop is below the line marked, but the entry is .... well its probably right about now, maybe get in on a dip below the low of the latest bar to form, but if you want to be long the entry is very close to now. If you really want to be safe the stop would be below the low of the low of this chart, and you could use the blue horizontal as the entry - obvious the risk is not getting set here and I prefer my first entry point instead.

I asked the question because what you said was unclear and confusing and I wanted it clarified. Yes, you have pointed out inaccuracies and inconsistencies, and this in itself is not a problem. It is what is apparently an agenda you have to attack VSA and its users that is detracting from the positive work brought to this thread. Please do not deny this or obfuscate, it is apparent when reading your past and present posts, your comments go far beyond pointing out inaccuracies and inconsistencies. Like I said, I do not know what your agenda is in making the digs and snide remarks, but it detracts from what positives you bring to the thread. If you wish to continue this discussion (I don't) then we can do so elsewhere - this thread has been distracted yet again and our correspondence will be moved to the VSA - Crock or not thread.

Nice one BlowFish - "composite picture" is a good way of putting it.

It was a straightforward question. No, I didn't interpret everything you included as an attack on VSA, the last two lines did, in fact, answer the question. The rest of your answer was couched in terms of an attack on VSA (again), asking if it was 'worth it', gaps between theory and application is exceedingly wide...etc. Like I said, you have made your dislike of VSA very clear, I do not know what your agenda is, but it is tiresome for those of us who see value in using VSA and would like to move forward.

No offense Db but much of your posting to this thread is an attack on VSA. That's your right, its a public forum, just gets tiresome for those of us that do see some value in it, thats all. Re underlined - that would seem obvious. Yep, obviously. "Worth it" - there is the attack again. Again, not a discussion for this thread but I would be interested in seeing your "explicit and straight-forward rules that can be tested, both backwards and forwards" on the Wyckoff thread applied to the Wyckoff method - or is this criteria only applied to analysis methods you do not approve of? Thanks for the answer to the question, and the dig, again.

Thanks Db - I don't want to get into a protracted discussion about VSA and "what it is, or at least in terms of what it has become, and not expect it to be what it isn't and can't be" (not on this thread anyway) but can I ask what you think of the sort of range expectation you could have from interpreting, for example, a "no demand" (given proper context/background etc.) on various time frames of analysis. For example, if I was using say the 5 minute bar and everything pointed to a downmove (context/background, support/resistance, "no demand" etc., all lined up nicely for me) my expectaions on the ES might be for 3,4,5, whatever points, or even a move down to whatever support I had interpreted on the 5-min bar chart. If, though, I was using an hourly bar and everything pointed to a downmove (context/background, support/resistance, "no demand" etc., all lined up nicely for me) my expectaions on the ES might be for a move of a larger magnitude, maybe 10, 12, whatever, points. In these two examples the magnitude of the profit expectations differ because of the magnitude of the timeframes differing and where you say: "a "no demand" bar means "no demand" at that time, and that the lower prices that the bar implies may occur for only a couple of bars", then the choice of timeframe chart is going to be a determinant on profit move expectations? So, VSA may be useful for scalping, as you say, but depending on the timeframe may be useful for larger magnitude moves also?

Bearbull - I have pulled this one paragraph out of all your recent posts as it summarises the very important point of the context, or background, against which 'signals' (for want of a better word) occur, and as you say is a point important not only to VSA, but also to Candlestick analysis, and other methods. Thanks very much for re-emphasising this important point, nice series of posts.

Chad - I did not know about this charting option ... very nice thank-you!

Good info and link thanks fs. I admit I use Forex Factory as its a nice summary, but that Econday site looks great.

Frank - in a nutshell, a high, or higher than expected, CPI is considered 'bad' while a low, or lower than expected CPI, is considered 'good'. High inflation will give the central bank (the Fed in this case) a reason to consider raising interest rates. Higher interest rates means the risk-free rate of return is higher, which means that equities have to generate higher returns in order to remain attractive to investors, all else being equal then equities (and hence the equity index futures) will be sold on a high inflation number result. The opposite occurs for a low or lower than expected inflation result - that is, a low inflation result (like today's 0.1 vs expectations of 0.2 - i.e. lower than expected) means the central bank will be much less likely to consider increasing interest rates, thus making equities, and therefore equity future indices, relatively more attractive to investors. Which is why, in a nutshell, the equity index futures rallied as soon as the CPI numbers were released to the market today.

Welcome Firewalker - interesting stuff!

I'm a sucker for just walking around in London - I particularly like Buckingham Palace, St. James Park, Hyde Park, Pall Mall and Trafalgar Square. These are all in the same sort of area. Maybe I am just a tourist, but these are beautiful areas of the city. Enjoy! Go visit the Bank of England - just to say you have been there - Lloyds building too.

Wow - smw, this is a huge effort and must have taken you a long time to do - thanks v much.

Don't doubt what you see, it is happening right before you; be interested to hear other's thoughts too.

Hi smwinc Just to clarify (I hope) as it appears you and brookwood are talking about two different things here. Brookwood is looking at the amount of volume being dealt at the ask price (I.e. offers being lifted) compared to volume being dealt at the bid price (i.e. bids being given). So when he (or she) says "negative volume delta" it means the volume dealing at the bid (bids being given) is greater than the volume being dealt at the ask (offers being lifted), not that volume is decreasing at a slower rate. Brookwood - if it is I who am mistaken please let me know.

Hey Mong - very generous to share such a great tool, great work - thanks very much.

Hi Simon - Maybe some of these pages, or links from them, can be of help? http://www3.optionsxpress.com/yahoo/ http://biz.yahoo.com/opt/stat1.html http://www.cboe.com/data/AvgDailyVolArchive.aspx http://www.zacks.com/research/options/index.php?PHPSESSID=2664030e6e40f9c4c7ee9ce3f1f1dd0b