My Wyckoff journal

So there were a few interesting things to come out of all of this.

Firstly the types of levels and the frequency of these levels being important within the trading day.

  • 23% were Daily and Higher Timeframe levels
  • 36% were Intraday levels i.e ranges created within the session
  • 23% were Globex levels
  • 18% were Opening Range level's
In terms of entry types:
  • The vast majority of the entries were reversals.

Theres a hell of a lot of stats that I could waste bandwidth with but it is worth saying that the main benefits were the intangibles.

I was able to identify the kind of trading that suits me. I identified a few new entry scenarios that look very promising and match my risk temperament. I also got a fair amount of experience with the way the the NQ behaves around levels, when it reverses, when it breaks out of ranges etc.

So a lot of positives, all for a few hours at a time over the course of the week.

Anyway, if anyone out there is trying to put a trade plan together along the lines of what DB, and 40D etc do, then this process is invaluable. Well worth it.

Fin.
 
Were you evaluating the three strategies only against extremes of one sort or another or did you also look at climaxes and secondary reactions?
 
nice journal DP glad I stopped by and read it, I'm in the middle of doing the 100 ranges, I want to finish it even after seeing your post, so I'll " own" the numbers . like you I've read so many threads, really good ones but until one does the work I don't think they will get everything he (or she as the case may be) can get out of it . this isn't directed to you its about me. thanks for posting
 
dbphoenix said:
Were you evaluating the three strategies only against extremes of one sort or another or did you also look at climaxes and secondary reactions?
More...

To be honest, this process was more the former than the latter. When I did see this behaviour however, I did take note of it in another spreadsheet to go back to for later analysis.
 
damnpenguins said:
To be honest, this process was more the former than the latter. When I did see this behaviour however, I did take note of it in another spreadsheet to go back to for later analysis.
More...

Well, I'm impressed. A week. I've always thought it could be done in a couple of weeks as long as one avoided thinking about entries, but I was unprepared for the number of people who are incapable of doing so. I was also unprepared for the number of people who are unfamiliar with the Scientific Method.

Your explorations of entries will be interesting. Let's hope the trolls find this intolerably boring.
 
boru said:
until one does the work I don't think they will get everything he (or she as the case may be) can get out of it .
More...

Thanks for that Boru!

For some reason DB's quote came to mind straight away:

The degree to which one experiences anxiety before and during the trade is in direct inverse proportion to the amount of preparation he has done

Pretty much sums it up.
 
dbphoenix said:
Were you evaluating the three strategies only against extremes of one sort or another or did you also look at climaxes and secondary reactions?
More...

Sorry, I kind of shortchanged you with that reply.

Posts like this (#463) from yourself and others were the main catalyst for me undertaking this 'reboot'.

I recognised that whilst I knew of the Climax, Tech Rally, Secondary Reaction schematic from prior 'readings' of the course, I hadn't really taken it in and made the knowledge my own. That's why that post of yours hit me like a ton of bricks. I knew at that point I hadn't put the work in and wasn't ready.

I also hadn't transposed Wyckoff's examples into contemporary examples from the NQ, then followed that up with replay after replay so that I KNEW what I was looking for, and more importantly what I was looking at in real time. This is part of what I am doing now.

Hence why I've now moved back to really studying the course before going back to analyse the backtesting.
 
If one has issues with concentration and focus, which is just about everybody, including me, then separating the wheat from the chaff becomes a never-ending struggle. Those who flounder are generally those who haven't studied the material, but even those who have studied the material can often drown in it. Thus it becomes necessary every now and then to return to the most basic basics and remind oneself of just what it is that he's looking for. Hence that post. To a very large extent, this getting back to basics was the impetus for my writing the SLA/AMT; 40pp beats the hell out of 500.
 
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