Easy way to make money? You do realize this is the stock market we're talking about right? There's no such thing as easy ..... I mean c'mon man. Anyone on the search for the holy grail deserves to lose his money.
Not completely from trading, I played Poker, sell on ebay retail arbitrage, scalp tickets to music shows that I think will sell out but are not hot enough to be picked up by bots. Any idea that isn't the lowest hanging fruit I can find profitable I'll attempt.
What Rock says rings true, there is no easy way for most investors. The only ones who even remotely have it easy are the composite men, for they do have limited control through monetary manipulations. It is because of this limited control that Wyckoff students attempt to follow the Cmen, to better understand their actions, to better anticipate "mark up" starts and stops and to better anticipate "mark down" starts and stops, those are profit areas and they are vitally important to every investors bottom line.
I think there is room for both approaches... even if you're a long term investor, deciding which stocks to buy is only half the battle.. deciding WHEN to buy is equally important
@Onepoint272 What's your take on the effort vs. result depicted below? I see a buy climax, increased supply, but also very poor follow thru on the part of sellers. Having a hard time gauging whether or not supply was absorbed or if it's trying to repair a rejection that happened too quickly before it inevitably proceeds lower.
It has lower highs and higher lows, a hinge as Wyckoff called it, aka a coil, symmetric triangle. I assume that dotted green line is some sort of resistance. Yes it has selling tails, but it came from strength and until it shows supply you have to assume its going higher. I guess I'd be looking at the weekly and daily for other effort vs result clues.
I don't think @TomB16 was being disrespectful, I think his message just sounded that way. As for "beating the S&P"....that's pretty easy. With one options trade, I can easily beat it. Beating it trading stocks -> that takes skill, but can also be done. Wyckoff is just a system that strengthens your odds of a profitable trade. No system is 100% accurate, but Wyckoff seems to be better than others.
To your first point, I disagree. To your second point, I heartily agree and having watched you over the years I can vouch for your claim. To your third point, I like Wyckoff, it works for me, and I think there is no better method, and I handily beat the S&P, but there are other ways to gain an edge and we understand of course, that only a slight edge is needed, since the more important edge is consistency and money management. But the jackshaft has deflected with tiresome personal allegory two direct challenges to a "buy and hold" versus "trading" contest to put an end to his libelous false claims about trading. It seem he would rather die in his ignorance before casting aside his false beliefs washed into his paradigm by the Wall Street machine.
Sometimes you just have to take out an insurance policy. There was a huge block trade on June 6th @ 40.10 that I have marked on my chart. It appears more recently to have become a price magnet acting as resistance and support. I imagine it shows up in your profile work.
Yesterday, at the close I added to my ABBV position. I was reluctant because of the low end close on the daily bar, but intraday it showed effort vs. result going into the close. It worked out, up 1.70% today.
Took profits on my entire ABBV position. It may continue higher to tag the monthly pivot but this price area appears like upthrust action of the larger TR especially since it hasn't built much cause yet. Also, after five 65-minute bars it wasn't able to take back the morning selling bar. 65-minute bars:
Another thing to point out about Wyckoff Unlike the vast majority of other trading methods which are largely based on probability, Wyckoff does NOT require high frequency trading to gain an edge Lets be honest, if your trading method involves placing 40 or 50 trades a month, the real winner is your broker.... is it any wonder that these are the types of strategies theyre peddling?
You still in AG onepoint? Any opinions on it? Starting to look pretty bullish to me with a no supply on 8/22 and the close above highs. Wouldn't mind Rock's outlook as well.
Dang it no. I was going to buy some yesterday at the close at about $10.30. Still looks good here though...a long ways up to the oversold line. I'm going to try and find some time to look at the golds and silvers this weekend. 130-minute (2-hour) bars:
I agree, Wyckoff's method is a trend-following method and that's what I like about it too, but to be fair to the day traders they do use per share commission pricing which can be as low as 1/4 cent per share ($0.0025/share). So on a 1000 shares the commission would be $2.50. Maybe its even cheaper than that now, I dunno. Okay, so given enough trades it's still sickening I guess.
Well, I may be way of base but it looks to me like SPWR is about to breakout again? I'm expecting a volume spike and upward moves in the next few days. What do you guys think? Am I misreading this?
