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A Wyckoff Student Notebook

Discussion in 'Trade Journals' started by Onepoint272, Apr 27, 2016.

  1. Rock Sexton

    Rock Sexton Meat Popsicle

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    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.
     
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  2. Unicorn Dreams

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    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.
     
  3. Bodacious

    Bodacious Active Member

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    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.
     
    #823 Bodacious, Aug 19, 2019
    Last edited: Aug 19, 2019
    Rock Sexton, Jrich and Onepoint272 like this.
  4. Jrich

    Jrich Well-Known Member

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    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
     
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  5. Rock Sexton

    Rock Sexton Meat Popsicle

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    @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.

    Candles.JPG
     
    #825 Rock Sexton, Aug 20, 2019
    Last edited: Aug 20, 2019
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  6. Onepoint272

    Onepoint272 Well-Known Member

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    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.
     
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  7. OldFart

    OldFart Well-Known Member

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    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.
     
  8. moss_sumit

    moss_sumit Member

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    TWTR showing strength in last few days and it appears the supply is getting absorbed...
     
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  9. Rock Sexton

    Rock Sexton Meat Popsicle

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    I took out a new position. Wish I had not shaken out last week.
     
  10. Onepoint272

    Onepoint272 Well-Known Member

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    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.
     
    #830 Onepoint272, Aug 21, 2019
    Last edited: Aug 22, 2019
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  11. Onepoint272

    Onepoint272 Well-Known Member

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    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.
     
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  12. Onepoint272

    Onepoint272 Well-Known Member

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    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.
     
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  13. Onepoint272

    Onepoint272 Well-Known Member

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    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:
    upload_2019-8-22_22-48-26.png
     
    #833 Onepoint272, Aug 22, 2019
    Last edited: Aug 23, 2019
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  14. Jrich

    Jrich Well-Known Member

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    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?
     
  15. Rock Sexton

    Rock Sexton Meat Popsicle

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    Ain't that the truth. All that $ lost via commissions is sickening.
     
  16. Unicorn Dreams

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    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.
     
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  17. Onepoint272

    Onepoint272 Well-Known Member

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    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:
    upload_2019-8-23_21-3-8.png
     
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  18. Onepoint272

    Onepoint272 Well-Known Member

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    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.:confused:
     
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  19. Rock Sexton

    Rock Sexton Meat Popsicle

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    Thinking it will peak around 14.
     
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  20. Bodacious

    Bodacious Active Member

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    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?
     

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