ES Journal Archive (2006 - 2008)

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Over the years here at ET I have often mentioned Richard Wyckoff, one of the fathers of technical analysis and short-term trading. His writings are timeless classics; I have a library of trading books, and most of those written after 1960 offer little compared to the classics.

Well, Google started putting some public domain documents on its site. There are other public domain websites such as Gutenberg.org, but until now I have never seen his STUDIES IN TAPE READING online.

It can now be found here:
http://www.google.com/books?id=VmENAAAAYAAJ&pg=PA5&dq=wyckoff#PPP1,M1
 
Exited longs here at 1371. 17 pt loss per contract. ---I will look for a fresh place to get long for an extended gain. I always try to focus on what I can lose, not what I can gain and thus I keep losses to a minimum. For certain, I will be wrong from time to time selling bottoms and buying tops, but as long as the losses are limited, this can be lived with--
 
Quote from riskymove:

So the Rule of 10 is now the Rule of 11?

Count me in with B1S2 on this one.
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How about following the rule you woud have took the signal at 69 with a 3 point stop.
 
Quote from Buy1Sell2:

Exited longs here at 1371. 17 pt loss per contract. ---I will look for a fresh place to get long for an extended gain. I always try to focus on what I can lose, not what I can gain and thus I keep losses to a minimum. For certain, I will be wrong from time to time selling bottoms and buying tops, but as long as the losses are limited, this can be lived with--
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Moving one's stop is the worst rule to have. Unless of course it is being adjusted to decrease risk, and even then it is often detrimental because it does not give the trade time to work. How about a swing long back around your 1344 - 1350 level ?
 
Can T day crew over power rule of 10 here ?


Talk about a conflict of interest but I will bet on failure at 79 -80 for now




All I can do is trade my signals and control my risk.
 
Quote from volente_00:

Moving one's stop is the worst rule to have. Unless of course it is being adjusted to decrease risk, and even then it is often detrimental because it does not give the trade time to work. How about a swing long back around your 1344 - 1350 level ?
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All I do is control losses. Moving the stop away from the trade is the detrimental move. What I did was move my stop/exit in the direction of the trade. No problem, I sold near the low. It doesn't matter. Other trades will come along. My entry and exit were bad on this trade and I was wrong.(so far) :)
 
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