Customer Reviews

Charting the Stock Market: The Wyckoff Method

5 star:		(4)
4 star:		(4)
3 star:		(2)
2 star:		(0)
1 star:		(3)

 

 

This book explains several things that I didnt see elsewere but I have observed in the stock market.
For example, large operator's manipulation (I have seen operators putting large sell orders only to buy stock with small orders).

The book covers also how to interpret volume, how to construct a position sheet to rank several stocks (in this topic I think the book could have been more detailed), how to use point and figure to project targets, some psicology for traders, etc.
Ah, here you will find no oscillators and no moving averages.

I liked the book. Why did I give it 4 stars and not 5 ?
Because I think certain explanations are ommiting details and the book could have more examples. In position sheet construction, for example, I think Hutson should put some charts explaining why the stock would be in position 1 and not in position 2.

That lack of examples implies you will need to carefully think and rethink about some rules,tips and orientations before devising a methodic way to apply it.


Also I think this book is better if you read it in the reverse order of the authors. Let me explain: The book has 3 authors, first section is written by Hutson, etc... I think the last part is more detailed, so that if I bought the book today, I would start reading the third section (this section is the better of the book in my opinion), then second section and finally first section.

This is a very good book on technical analysis and also gives a great outlook on what is happening in the market. If you understand how the strong-hands are playing the market you can jump on for the ride, and profit!

The section on Price-Volume analysis is priceless and makes this book great. If you can watch and comprehend what is going on by using price and volume, you are head and shoulders above most people that trade. Knowing what the strong-hands in the market are doing, and then joining them, is my favorite way to make money. I can't move a market, but I am very good at "jumping on the big dogs back" and riding for profit.

The rest of the book was informative, but I have a habit of reading a book and taking the things I like. I like to understand what others in the market are doing, but if it does not resonate with me, or makes my current process more complicated, I do not use it. If you use this book and follow its instructions you will do well. Yes, it is a lot of work, but most successful traders work hard. I have a similar system and Price/volume analysis just makes sense to me. Plus it works well. So use the parts you like.

If you do not have a system you designed, or are not a consistent, profitable trader, you can use the Wyckoff process outlined in this book to be consistent and profitable. The author talks about hand charting and analyzing the data. He says it should take about an hour a day. With the advent of computerized trading and Excel, I can configure the data into charts in seconds, then spend about 15 minutes glancing through them. Then focus a little more time on the areas that look interesting. If under an hour a day is too much work, maybe trading is not what you should be looking at? Anyway, its a great book that will give you a more detailed understanding of what is really happening in the market. Good luck.

This is, in my opinion, one of the best technical analysis books out there.
The approach of Richard Wyckoff was developed in the beginning of the century and it still applies. He shows you, in great details, how through price, volume and trend lines you can identify what a stock is doing and what it is about to do. And he did all of it by hand!!!
The system is pure and, if combined with other indicators, moving averages, etc. can be powerful.
The book is full of technical information. It is condensed, not an easy read but worth every penny and it is one of the least expensive books out there.
I highly recommend it.

The Wyckoff Trading Methodology is complex as it is (i.e. It is not simple or easy). This book does a very, very, very poor job at explaining it. There are other books that do a much better job at explaining it. However, none that combine all of Wyckoff's concepts into one easy to read and understand book (so far as I found). A good start would be Tom Williams' Master The Markets book, but (keep in mind that) this book is very disorganized and does not cover all of Wyckoff's concepts.

This book attempts to summarize the Wyckoff Method for stock and commodities markets activities. These markets are very complex and no abridgment of Wyckoff's voluminous work can begin to do qualify as a substitution. As a summary of Wyckoff I guess it's ok, but then who would want to read it as literature?

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.

When you start educating yourself on the stockmarket, you start a journey to what really happens.
There are hundreds of books out there telling you the same thing, but its not what you need to learn.
The Wyckoff Method is about price and volume. And what you can interpret from it.
This is what you need to know to compile a trading plan that will stand up to all types of markets.
From this book I can now compile a trading plan in relation to volume spread analysis.(VSA)
In the pursuit of knowing what a market will do tomorrow, The Wyckoff Method points you in the right direction.

Charting the Stock Market: The Wyckoff Method is well worth the purchase price and superior in my opinion that the Tape Reading book by Wychoff.

I never heard of Mr. Wyckoff until I bought Robert Dorfman's Hedge Fund Trading Secrets Revealed...which was great also...who speaks highly of his books by saying the ideas presented by Wyckoff are timeless. Dorfman was right. Basic Human Psycology in action which will never change no matter how technologically advanced trading gets.

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