Tim Ord - "The Secret Science of Price and Volume"

[Simple 10]

Tim Ord - "The Secret Science of Price and Volume"

I was working through some reviews on Amazon today following db's recommendation of Technical-Analysis-Stock-Market-Profits by Richard Schabacker and ran across Tim Ord's book. So I'm trying to decide whether its worth purchasing.

 

Has anyone read it? What did you think?

 

 

(note to mod, I posted this in general discussion as well ... can you remove that version )

[OAC 10]

I did get a chance to browse through the book, and I am not too impressed.

He has this thing called Ord-Volume that is proprietary and you have to buy his software in order to use it. Anyway, anybody who names an indicator after themselves and call it proprietary is a turn off for me.

[smwinc 20]

good, general rule:

 

ANYTHING IN TRADING THAT TALKS ABOUT SECRETS. THROW IT AWAY.

[dandxg 10]

I believe all Ord did was study Wyckoff and put his own spin on it. That's neither good nor bad IMO it just is. I took a look at him and there is nothing ground breaking IMO. For those of you that have Ensign charting you can track volume in swings, trendlines, geometric forms, etc. I just found some bugs in Ensign, nothing huge, and am rather comfortable with Sierra. That and I found I just don't need such exactness but some may like what Ensign can do with volume.

[Simple 10]

Thanks dan.

 

The ord volume isn't a secret or proprietary (its described in the two free pdf's you can download from his site).

 

From the free PDF's it seems that, like db, he took what Wyckoff had written and adapted it to the modern age. Then he seemed to have set up some specific rules for swings in liquid stocks and it looks like the testing for those rules probably created the software you mention OAC.

 

So, no one here has read the book?

[OAC 10]

Thanks for the clarification, I may take a look again. His entire book was illustrated by charts from his software. I assumed some of the stuff was proprietary, otherwise why can't you include the Tradestation Codes in the appendix ?

[gassah 10]

Thanks dan.

So, no one here has read the book?

 

I enjoyed his book and have wanted to study swing volumes for a long time but it's been too much of a pain. I'm glad to see he apparently is successful doing so going by the awards on his site. His newsletter highlights one stock each day so it will be easy to see how he performs real-time.

 

He compares volumes of swings, pivots and gaps and the software is very convenient. Although his ideas aren't anything original (he took the SMI course) he's the only one I know of that strictly follows these relationships.

[OAC 10]

I wonder how applicable his stuff is to trading intraday ? It seems to me this is one area he is shying away from. Even in the old days when we had the TAG seminars, he used to utilize the NYSE TICK readings to identify monthly or yearly highs and lows in the S&P 500.

Edited May 1, 2008 by OAC

[Simple 10]

I have been applying his top and bottom test rules (crudely) to the intraday opening tests of my market and finding them quite effective. My approach has been that if the penetration doesn't meet his rule from the pdf's I don't assume trend in that direction - I wait.

 

Interesting so far.