Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Look up keyword
Like this
8Activity
0 of .
Results for:
No results containing your search query
P. 1
Wyckoff Workbook

Wyckoff Workbook

Ratings: (0)|Views: 973|Likes:
Published by Sergey Khaidukov

More info:

Published by: Sergey Khaidukov on Aug 30, 2011
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF, TXT or read online from Scribd
See more
See less

11/15/2013

pdf

text

original

 
S
tewartTaylor
will
sharewithyou
his
simpleapproachtofindingaconfluenceofprice,timeandpatternthatofferslow-riskentriesandsolidstopplacements.He
will
showworkshopattendeeshowheextractsthemostmeaningfulportionsfrommanyofthelead-ingtechnicaldisciplinesusedtoday.Thesetechniquesareapplicableacrossabroadspec-
trum
oftimeframesandmarkets,butthisworkshop
will
concentrateonday-andswing-tradingmethodsusedinthefinancialandmetalmarkets.StewartwillshowyouhowtoidentifyWyckoffprice/volumepatternsandbehaviors,andhowtocombinethesepatternswithsimpleElliottpatterns,Fibonacciobjectivesandretracements,andvolumeandopeninterestanalysistoarriveatasolidandtradablemar-ketopinion.Additionallyhe
will
showhowhecombinesbasicoscillatorpatternswithdaily/weeklyrangeprojectionsandsupport/resistanceriskpointstoidentifylow-risktradingopportunities,placingspecialemphasisonWyckoffanalysisofaccumulationanddistribution.He
will
sharemanyofhisbasicday-tradingrulesandobservations.Simplifyingthedecisionprocessremovesmanyofthepsychologicalimpedimentsinvolvedinplacinganorderandfreesvaluabletimefortrading.Fourteenyearsofreal-worldtradingandadvisinghaveconvincedStewartthatsimpler...issimplybetter.
*
StewartTaylorbeganhistradingcareerfourteenyearsagobytradingbasicpatternsandbreakoutstrategies.Thesesimplestrategiesevolvedintocomplexday-tradingstrate-giesutilizingElliottwaveandintradaycycles.Finally,overthelastfouryears,histradingstylehascomefullcircle,andhehasbecomealeadingproponentofthe"Simpleissim-,plybetter"approach.Stewartdevelopedhisanalyticabilitiesasaninstitutionalbrokerservingthefixed-incomecommunitywithBrittenum
&
Associates,Refco,ViningSparksSecurities,ShearsonLehman,AmericanExpressandPrudentialSecurities.StewartformedTaylorConsultingInc.,inAugust,1992,topublishmarketinformation.Hismarketletter,
TheTaylorFixed-IncomeOutlook,
hasbeenpublishedforprofitsinceOctober1992.Hissubscribersincludemanyprimarydealers,internationaltradingdesks,hedgefunds,moneymanagers,bankholdingcompaniesandmortgagebankers.Stewart,soleowner/officerofTaylorConsulting,Inc.,isaCommoditiesTradingAdvisor.HisprofessionallicensesincludeSeries7,63,3,5and65securitiesandoptionslicenses.StewarthasgivenpresentationstotheMortgageBankersAssociationofAmericaonsubjectsrangingfrominter-markettechnicalanalysistopracticalappli-cationsofoptionsasapipelinehedgingvehicle.Thefinancialpressextensivelyquoteshisobservationsandhemakesfrequentmediaappearances.
CopyrightTAYLOR1997.AllRightsReserved.
TAG
~I~
LASVEGAS
1997
SimplerIsSimplyBetter
GettingDownand
Dirty
in
theReal
World
STEWART
TAYLOR
STEWART
D
TAYLOR
21PortlandRoadLittleRock,AR72212(501)219-9774
0
(501)228-0963FAXstaylorfscei-net
 
WyckoffAnalysis
TheartofPriceandVolumeWyckoffisthestudyofprice,volume,andtherelationshipsbetweenindivid-ualwavesofbuyingandselling.Theserelationshipsreflectthebalancebe-tweensupplyanddemand.Bycomparingtheintensityofthebuyingandsellingpressure,itisoftenpos-sibletoascertainthetechnicalstrengthorweaknessofthetrendandthelike-lihoodofthetrendcontinuingorreversingitself.Buyingandsellingwaveslastaslongastheyhaveafollowing.Oncethefollowingisexhausted,themarketentersatradingrangeorchangestrend.Theserelationshipsoftenallowtheanalysttoascertainthebehaviorsandmo-tivationsoflargeoperators(hedgefunds,banks,etc.).Theseoperatorsareconsidered"smartmoney".Pricechange
=
Result.Volume
=
Intensityoftheparticipants.Wyckoffusesthreetypesofcharts.Vertical(toascertainsupplyandde-mand),wave,andpointandfigure.Forthisdiscussion,wewillfocusonver-ticalchartswithvolume.Thistypeofanalysisisathoughtprocess.
It
isawayoflookingatthemar-ketthatrequiresjudgement(asopposedtoamechanicalsystem).
TheviewsexpressedbythespeakersattheTechnicalAnalysisConferencearesolelytheviewsofsuchspeakersandarenottheviewsofDowJonesMarkets.Suchviewsarenotintendedtoconstituteinvestmentadviceandshouldnotbereliedupontogovernactioninparticularcircumstances.
1
 
TheLaws
SUPPLYANDDEMAND
Ifdemandisgreaterthantheavailablesupply,themarketwillmovehigher.Thatistheonlywaytosatisfytheneedorwantofthecompositeman.Whendemandissatisfied,pricewillstabilize.Iftheavailablesupplyisgreaterthanthecompositeneed,themarketwillmoveloweruntilpricehasmarkeddownsufficientlytostimulatedemand.
EFFORTVS.RESULT
Pricespreadshouldalwaysbeproportionaltoeffortexpended(volume).Ifthecompositemanputsforthabigeffort,heshouldreceiveabigreward.
CAUSEANDEFFECT
Theextentofamarketmoveisdirectlyproportionaltotheamountofcause.
CAUSEORPOTENTIAL:
Theamountofstrong-handedaccumulationordis-tributioninsidearange.
In
thecaseofabullmarket,thegreaterthezoneofaccumulation,thelesssupplywillbeavailabletosatisfytheneedofweakhandswhoenterafterthenewtrendestablishesitself.Pointandfigurechartsareusedtoprojectmovetargetsbasedonthewidthoftherange.
EFFE(~T:
Theresultofthecausethatisbuilt.Withoutpreparationbuildingcause,itisverydifficultforasignificantmovetodevelop.
THOUGHTSONTHELAWS
Topsandbottomsaren'tusuallymadeuntilthelastshortneedingtocoverisforcedtocoverorthelastfundmanagerwhoisbehindhisdurationtargetisforcedtobuy.Generallyspeaking,topsandbottomsarenotmadebyac-countsflippingtheirpositionsandmovingfromlongtoshortorshorttolong.
2

Activity (8)

You've already reviewed this. Edit your review.
hilmiy2k liked this
1 thousand reads
1 hundred reads
Rodger Vargas liked this
alcontado_80 liked this
Jungle Gan liked this
yme32 liked this

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->