Actually it can't be called a method, because it's how market works. Wyckoff studied the markets, the greatest traders of his era, J.P. Morgan, Livermore... and talks about how these traders traded. It's about following their accumulation, distribution and entering the market along with them. I would gladly explain it to you, but it's a long concept, but I'm sure there is a lot of information on the internet. I don't have past results, because I haven't traded stocks before.
Good thread. Makes a refreshing change.
What platform is this and do you use a screening tool. What criteria do you look for?
Is there an index you focus on?
Cheers
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This is totaly free site www.freestockcharts.com. From time to time I check all the stocks in S&P500 and Dow Jones 30 indices and if I see a stock that's acting right in the very moment I check it I enter. I look for signs of distribution from professional investors in that stock when I want to short it and signs of accumulation to go long.
To make everything look easier you can identify distribution by ultra high volume up bars (like the one on the chart of PFE on the 14th March). But of course you can't just enter after seeing that kind of a bar, your odds are better if you wait for market to roll over, when the market can't make higher highs anymore. These are all Wyckoff principles and exactly the way the market works.
This is totaly free site www.freestockcharts.com. From time to time I check all the stocks in S&P500 and Dow Jones 30 indices and if I see a stock that's acting right in the very moment I check it I enter.
Ignored
Can you explain what you mean "acting right"
and how do you rule out stocks, you can check over a 500 stocks in a session, can you?
Can you explain what you mean "acting right"
and how do you rule out stocks, you can check over a 500 stocks in a session, can you?
sorry if I seem obtrusive, just curious lol
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It's always positive to be curious. Acting right to enter long means I see an accumulation behind. If you look at my EMD trade you can see one clear principle: stock falls from its high, but then after time it fails to make lower lows, it is traded in a narrow range - this is clear sign of accumulation, because professional buying must have stopped the down move. And just before my entry there was ultra high volume down bar, but again failed to break lower (if this was all selling that stock would surely go to south. There certainly must have been some bad news about that company that day, which gave professionals a chance to buy from a herd that sold that day).
A stock acting right to go short must have distribution behind. If you look at AA trade you see there was ultra high volume, narrow spread up bar into previous high, but after that day the stock drifts down. This is distribution, professionals selling to the herd which is buying.
No, I don't check every stock every day, every weekend or so I go over them all.
Feel free to ask if you have a question.
