mister ed

Hi email, I don't think this is the right thread to be asking about bid/ask volume, so far at least it hasn't been a topic for discussion here. I will have a go at addressing your question but if posters on this thread prefer we can move the topic to a more appropriate thread OK? Firstly, can I ask what instrument you are trading that is showing this behaviour, and what software platform and data feed you are using? Sometimes the data feed especially can provide suspect information. This is a starting point for looking at your question.

Just a bump - reminder

Like I said Db, I am no expert, just didn't see your answer/explanation to the question as any sort of answer/explanation at all. Don't want to derail your thread any further.

Db, I appreciate you may not want to answer my question, thats fine. But since you brought it up I had to ask. I can't say I agree with your description of Wyckoff's concepts at all though, but I am no expert. If I may derail your thread on real-time price action for a moment I will just clarify some of the concepts, as I don't want those unfamiliar with Wyckoff to get the wrong idea. True, obviously so, but not a Wyckoff concept (too obvious to state). I doubt the word 'balance' was in Wyckoff's trading vocabulary. If you mean 'trading range' in place of balance, then getting warmer. A better way of phrasing this, in terms of concepts that may be applicable to Wyckoff would be to say that markets are shifted between balancing (not the right word) and trending. If, by balancing phases, you mean trading ranges, I believe Wyckoff's concept is that a trading range represents a time and price range where the transfer of ownership from weak to strong hands (or vice-versa) prior to a mark-up (or mark-down) is the objective. Very different to a search for equilibrium. Sometimes. However, near the beginning of the mark-up (and mark-down) phases there are many points of support (and resistance in the case of the mark-down) characterised by low volume, where trading activity is not at its busiest. Lost me completely on this one sorry. Sorry for the tangent, back to the thread's subject!

Db, can you elaborate on your opinion that MP tidies up important concepts Wyckoff first articulated? What concepts etc.?

I am seeing it again today (06MAR08) esignal data is currently 3 POINTS behind broker data

Momentom, I read your review, and the one above it of the same broker. We have a market ... albeit one with a wide spread!

Very good question Darth ... I will do some research and see if I can come with anything.

Thanks Eiger - just after a general impression, not too important

Thanks James, your videos continue to open doors for me.

LOL! Maybe Google Translate can be of assistance :haha:

Thanks for the comments here Db - it takes me quite a while to answer questions like this, flicking back and forth to the chart, actually figuring it all out, so I appreciate the effort you put in for us all to learn, thanks.

Eiger, have you read 'Master the Markets', which I always understood was a sort of revised edition of 'Undeclared Secrets'? If so, and if you don't mind, would you make a few comments on the merits of one compared to the other?

Ok, I think I understand you, we have different defintiions. I might define it as accumulation at that scale. Again, think I got you. I would refer to 'buying pressure' and 'selling pressure' using Mkt Delta - like definitions, so we can create some more confusion out of this too! Will have a closer look at this too ... especially the 'bored traders' part - it may be some traders running the price up and down to generate some profits! But will look more closely. Thanks Db

Would it were possible for me to click the "Thanks" button more than once a post! This is of great value thank-you Eiger. Sledge - this might be (really, it is) helpful with your 'where/when' to enter question? I particularly like the 'creek' as a non-straight line. There are various articles around the net (Hank Pruden the writer of many of them) that show this, great to see it brought to life. I am no expert in this stuff, but a few things are obvious to me - the jump across the minor creek, look at the volume. Was it Evans/Pruden who defined the creek as 'where the volume comes in' - it may not have been - but this is a great example.

I for one am more interested in the trivial buying and selling cycles! What sort of analysis and terms would you apply to these? I must admit I would refer to these as accumulation. and distribution etc. I look at accumulation/distribution/mark-up/mark-down across various scales, including on a day-trade scale (I might term 20 minutes activity, or whatever, as accumulation at that scale) which is where the confusion you mentioned might lie.

James - when you get some time, any chance of a few comments/review on the book, what some of the new discoveries might be, any departures from the market profile process at it currently stands etc.

I may be off track with any definition I am making of acc, dist, mark-up or mark-down so sorry if I am causing confusion etc. Please go ahead with your comments Db. I can't keep up with this thread. The great thing about my timezone is when you guys go to bed I get heaps of time to go through the posts in more detail and at a more relaxed pace, luxury!

I think what was the gist of Sledge's question (Sledge, correct me if I am wrong), he is detecting the buy and selling imbalances and exhaustion but notes that the price may then take off into the mark up/down phase, or either continue on more-or-less in a range? Which is where the SOS or SOW and the JOC or break of ice becomes important (again, sorry for the shorthand or jargon). Sledge, also there are possibilities of taking trades while it is still in the 'range' (the accumulation or distribution phases), again using Wyckoff analysis ... these trades are not as 'obvious' as the break of the range (the JOC or break of ice) but the risk/reward can often be much better. I say to try this like it is so many words ... but I find it very challenging and I imagine some others do too.

What I find in real-time is I am 'rushed' and often will miss things. This is a sign that I haven't 'absorbed' it yet (for want of a better word) as there are some parts of the analysis that come very quickly, those things which I have obviously absorbed already. Doing such an analysis, breaking it all down, and seeing it done by others too (such as your post) after the event helps to learn and absorb, I find.

Sledge, Db, I suppose the better way of putting the question is when does the mark-up or (in this case) the mark-down begin? Sign of strength (mark-up), sign of weakness (mark-down) is the beginning, the 'jump over the creek' or the 'break of the ice'. Sorry for the jargon.

Eiger - thanks very much for this analysis, which you have obviously put a lot of work into, reproducing the chart etc. I, for one, find the way you have broken down the action and analysed it in terms of principles really valuable. Really helpful thank-you.

OK, so to post a broker review its pretty easy, just write one and post it up here. If, instead, you are going to upload an original trading video its going to require you have screen capture software. This can be expensive, but there are a number of free alternatives: 1. Camstudio 2. Jing Project 3. uTipu (thanks to heretodaygone… for bringing these last two to my attention) Everything about how view, upload and share a trading video at Traders Laboratory can be found here. Good luck everyone.

Sounds great James!

Is it just me or is anyone seeing esignal data lagging a good way behind on the ES? Not all the time, just periodically - just happened about 2 minutes ago and persisted for about a minute before catching up. Thought it happened earlier too.