I am kinda new and want to learn basics for short term trading

padutrader said:
you are taking a few lines out of context....so yes forget it

bottom line is you will never be a perfect trader.....and no one will
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Here is your context.

"you cannot ever have a system that wins 100% of the time because that would mean someone has to lose 100% of the time......and they will either stop taking the other side of your trade or get wiped out so in both cases you lose that 100% win."

The fack kind of context is that?!?

So if someone has a 100% win rate, someone else has a 100% lose rate?

Fer crying out loud, that is so pedantic it requires more music. Get some groove! Get some analog in your digital world!

Doesn't India have any soul?

 
deaddog said:
What indicators? Wyckoff used price action.
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Bar charts and point & figure. What made Wyckoff successful has more to do with managing risk and trading momentum than his analytical process. There are better techniques to manage risk and evaluate momentum today.

The truth is that trading and investing are highly specialized fields driven by experts (thousands of phds with trillions of dollars). You are not going to find an edge through Wyckoff.

A retail traders advantage is in portfolio composition, mandate, and risk tolerance. However, the lesson you can take from Wyckoff is that you need to hold yourself to high standards and operate intelligently (have a systematic approach to risk management and limit your portfolio drawdown).
 
It all depends on the market you want to trade.

For example if you want to trade ES or NQ, it could be smart to also keep an eye on the market internals ($TICK, TRIN, advance/decline, ...), the spread between ES and NQ and maybe also spread with other indexes like YM and RTY. Even VIX can give some very good clues every now and then.
 
longandshort said:
Bar charts and point & figure. What made Wyckoff successful has more to do with managing risk and trading momentum than his analytical process. There are better techniques to manage risk and evaluate momentum today.
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What techniques would you suggest I use? I evaluate momentum with price action and volume and manage risk with stops.

Wyckoff is more about price action than bar charts and P&F. The charts make it easier to see.

The truth is that trading and investing are highly specialized fields driven by experts (thousands of phds with trillions of dollars). You are not going to find an edge through Wyckoff.
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I must be really lucky then as I have been quite successful.

A retail traders advantage is in portfolio composition, mandate, and risk tolerance. However, the lesson you can take from Wyckoff is that you need to hold yourself to high standards and operate intelligently (have a systematic approach to risk management and limit your portfolio drawdown).
More...
That is more or less what I do. I have a systematic approach, based on Wyckoff teachings, to enter trades and a risk management strategy that limits drawdown.

And most importantly the discipline to follow my plan.
 
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