This should be an interesting read

dbphoenix said:
All of these people -- Wyckoff, Livermore, Gann, Elliott, Schabacker, deVilliers et al -- were working at or about the same time, and must at least have known of each other. But whether or not they hung out together is as far as I know unknown. If they didn't, perhaps they felt no need to do so. The "celebrity culture" seems not to have quite caught hold yet, except with regard to those who saw profit in self-promotion (or the opportunity to escape the notice of regulatory bodies; nothing like building libraries to give the impression that one is a good guy).
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I recall you saying recently, that over time your personal trading style has moved away from taking only low price risk entries to focusing on higher information risk entries. It makes sense - as the ability to read price improves, one does not need the additional confirmation of the set up, as the manner of movement at specific levels becomes more important.

Do you see a difference in trading style between JL and Wyckoff vis a vis price/information risk?
 
JL didn't get as specific as W regarding protocols, but then JL wasn't teaching. But neither seemed all that concerned about "information risk" as what they needed to know was in the price movement. W, for example, understood the importance of equilibrium and balancing and the consequences of it in terms of price movement. He therefore didn't need multiple confirmations.
 
I have that booklet and other materials from Livermore. After reading Wyckoff though, Livermore appears to be less precise to me. I can understand the message in general terms but not completely in practical terms. To be fair, I don't bother with others much now since SLA-AMT has made life so much easier and uncomplicated. Wait for the AMT extreme and start SLA. The rest of the mumbo-jumbo is only for the mind to make things appear more complicated than they are.
 
The general message was good enough for me. Over time I was able to construct my own specifics -- the tactics to accommodate the strategy, so to speak. Other, more recent books by contemporary authors just didn't seem to have the same gravitas, although the message was similar in the better ones. So the effect was not quite as bracing.

And now with all this talk about Wyckoff, I'll probably have to dust off two of his books I have that I haven't read in years.
 
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To be candid, I don't remember the level of detail, since I only read each one once, and it was years ago. I just recall that I enjoyed reading them. (Studies in Tape Reading, and How I Trade and Invest in Stocks & Bonds.)
 
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