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Charting Tһе Stock Market: Tһе Wyckoff Method, takes a modern look аt a seminal way tο υѕе technical analysis: tһе Wyckoff method. Charting Tһе Stock Market presents аחԁ ехрƖаіחѕ һοw tο υѕе tһе Wyckoff method fοr investing аחԁ trading іח stocks, bonds, аחԁ commodities. Tһіѕ method wаѕ first documented bу Richard D. Wyckoff (a trader аחԁ market forecaster wһο ѕtаrtеԁ іח tһе business іח 1888 аѕ a 15-year-οƖԁ stock runner) аחԁ published іח tһе 1930s. Charting Tһе Stock… More >>
Charting tһе Stock Market: Tһе Wyckoff Method
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Being new to Wyckoff I have no basis to compare this book to others on the same subject. However I enjoyed the subject matter and found the contents very interesting. Will this make me a successfull trader, I don’t think so. I am a great believer in finding your own way to do things after carefull study of other successfull people. This book has given me some ideas to work on which will hopefully give me a better understanding of the price movement of markets. All in all well worth the money I paid.
Rating: 5 / 5
I’ve never bought or read this book. I’m researching it to potentially buy it, and ran across the table of contents posted on the Traders Press web site. In case it is useful to others, posting here:
Table of Contents
Preface
Part I: Principles of the Wyckoff Method
by Jack K. Hutson
The Early Days
Elements of Charting
Market Trends in Composite Averages
Understanding Group Stock Behavior
Prelude to Individual Chart Reading
Figure Charts
Effective Forecasting
Trendlines: Refinements in Charting
Selecting the Best Individual Stocks
Refining Chart Analysis
Maximizing Profits with Stop Orders
Intraday Swings with Wave Charts
Serving an Apprenticeship
Developing a Personal Trading Style
Market Strategy
Part II: The Wyckoff Method in Action
by David H. Weis
The Wyckoff Method and Bond Futures
Anatomy of a Market Move
Part III: The Wyckoff Method: Five Steps to Success
by Craig F. Schroeder
Determining Trend
Relative Strength and Weakness
Identifying Opportunities
Buying and Selling Tests
Timing Your Commitments
Glossary
List of Figures
Index
Rating: 3 / 5
I need someone to enlighten me why other reviews gave this book such high ratings. This book has several shortcomings. It was first written in 1986 so many things are outdated. As another reviewer has pointed out, this book needs to provide examples to illustrate its points. The writers might be good traders but are lousy writers; they have failed to explain many key points. The content adds no new information than what most people already know: low volume on rallies, drawing trendlines, breaks of trendlines as signals for change in direction. I gave up reading the first author (Hutson) half-way through. I jumped to the third author (Weis) because the chapter titles seem hopeful, but I found the same shortcomings there (not enough examples, lack of explanation, etc.). My conclusion is don’t even bother with book. I gave it one star because I don’t know how to rate it as zero star.
Rating: 1 / 5
This will be the last book on stock trading that I will ever buy and not because it’s good. But because no one could write editorials, run a magazine, produce a newsletter and still stand over a stock ticker and apply all the principals and methods discussed in this book unless he was an idiot savant. I’ve come to the conclusion and it took me 31 years to figure this one out, the people who really know how to trade the markets “DON’T TELL” and the ones who DON’T KNOW or just think they know, sell books. In my opinion an entire industry has been built just to feed us B.S. about stock trading.
Over the years I’ve purchased in excess of a hundred books about trading and investing and have attempted to trade according to their methods with little and in most cases no results. Only one has in all this time put money into my pocket. Now I know that I’m not the smartest person but I know how to follow instructions and apply them. Having a degree in Business Finance also helps a little. After these forays into trying these so called new systems or old systems made new and losing money time and time again I have to resort back to my old stand by system that consistently puts money back into the positive side of my ledger. Right after I post this review I’m going down into the basement, box up those books, including this new one and they’re heading for the dumpster. Then I’m going to find that old dog-eared heavily underlined book that I bought back in the sixties and place it prominently on my desk next to my computer. And as soon as this market decides what it wants to do. I’ll get back to making some money again. Who’s book am I talking about? His name was Nicolas Darvas.
Rating: 1 / 5
I’m certain that people like the legendary W.D. Gann and other traders of his kind were/are the last to let out the secret that makes them the 5% of successful traders, versus the 95% of us who are but buffalo for them to feast upon. I think many of these 5% write books to bring more of the 95% into the markets as well as to make a profit selling books.
Those of us who buy books are the ones who know in our gut that the markets are NOT a “random walk” and are cyclical, and that’s how we’re lured into the trap of believing someone else out there is going to part with this precious advantage…even Gann never gave up his edge, letting us have all the leftovers from his early years before finding the key, which he’d undoubtedly discovered.
So, what to do? Forget about fundamental (news) information on trading as by the time you hear it, it’s already priced into the stock or commodity. Pure technical trading, approaching the market chart WITHOUT ALL THOUGHTS OF PROFIT OR LOSS is the only way to divorce yourself from the traps of Fear or Greed that make us the buffalo and not the hunter. If you can’t get a feel for one chart, go to another until you find one that’s got that ripe look or feel to it. Find the indicators that work for you, or just use a ruler and pencil and let your instinct go to work and make your prediction if one becomes apparent. THEN make the trade.
Rating: 5 / 5