- Paperback: 204 pages
- Publisher: Technical Analysis (October 1991)
- Language: English
- ISBN-10: 0938773062
- ISBN-13: 978-0938773061
- Product Dimensions: 0.8 x 6.2 x 9 inches
- Shipping Weight: 8.8 ounces (View shipping rates and policies)
- Average Customer Review: 3.9 out of 5 stars See all reviews (22 customer reviews)
- Amazon Best Sellers Rank: #506,307 in Books (See Top 100 in Books)
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Charting the Stock Market: The Wyckoff Method
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Top Customer Reviews
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.
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.
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.
For an easier start to reading Price and Volume together try reading "A Complete Guide To Volume Price Analysis" by Anna Coulling to get your feet wet. But do not miss this book afterward.
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.
Most Recent Customer Reviews
These types of books are great for beginners who are looking for a great foundation to using volume in their trades.Published 3 months ago by Eric P
The analytic techniques discussed in this book are used to this day by hedge fund managers and other successful traders all over the world. Read morePublished on August 17, 2014 by Emilio Salinas
With so few books about proper Wyckoff method around, this book offers an invaluable insight. Not for beginners who just want to know good set ups. Read morePublished on April 15, 2014 by Rio Adrianus
Very good reading for any trader, using the Wyckoff method or not. Has some eye opening material to enhance any technical trading tools. Read morePublished on June 22, 2013 by tom
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.Published on August 24, 2011 by Zeke