My Wyckoff journal

OP and others,
My read of Wyckoff is that he was a big picture trader, broad market stuff
NOT intraday day trader
Why I mention this is the one post on the first page listing thoughts or comments minute by minute, enough crap to make my head spin===seems to have nothing to do with Wyckoff
 
nursebee said:
OP and others,
My read of Wyckoff is that he was a big picture trader, broad market stuff
NOT intraday day trader
Why I mention this is the one post on the first page listing thoughts or comments minute by minute, enough crap to make my head spin===seems to have nothing to do with Wyckoff
More...


Thanks for the response nursebee. Its correct that division 1 of Wyckoff course deals with the larger moves, however division 2 was written with the express purpose of detailing intraday 'tape reading' trading.

Both can be found over at TL :http://www.traderslaboratory.com/forums/wyckoff-forum/3877-introduction.html#post68511

And as to the bad case of verbal diarrhoea from the observations of a previous session. That is precisely why I've undertaken this process to reboot my trading. I had read Wyckoff but not absorbed it.

The first step to recovery is admitting you have a problem...

Hopefully I can look back in a while and take note of how far I've come.
 
Another update.

Going back and really studying, not just reading Wyckoff means that posts like these are really resonating with me now....

fortydraws said:
one thing that really impressed me when I was first studying Wyckoff's trading course was the notion that one should pay attention not merely to supply and demand, but to the quality of supply and demand - who is buying? Who is buying that low? And who is selling it? Who was buying the opening range breakout yesterday? And who was selling it?
More...

dbphoenix said:
Professionals, for example, will buy declining prices in order to support them. Amateurs will buy in an effort to catch a falling knife. But whereas professionals will tend to hold onto what they've bought and accumulate a position, amateurs will more often panic and throw their shares back onto the market as sellers. This helps fuel the cascade.
More...

Viewing the market in terms of the quality of Supply and Demand has been a fundamental shift in thinking, and I feel like I'm finally getting closer to viewing the market the way I want to.

So I'm kicking off my observation phase tomorrow and I'll also start reviewing / analysing the backtesting I did last week....

Back to my 'Journey' with the borogroves :)
 
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