Why Price and Volume are Key to Understanding the Market and How Markets Work Wyckoff Style
Monday, March 21, 2016 14:30 MDT » 16:30 EDT
Price and volume are the two most important aspects of markets and they are essential to how you "read the tape". Price and volume are the only two indictors that are live and instantaneous. Tape reading is as old as markets themselves and is at the very heart of trading.
Through conversations, interviews and research of the successful traders of his time, Richard Wyckoff augmented and documented the methodology he traded and taught. Wyckoff worked with and studied Jessie Livermore, E. H. Harriman, James R. Keene, Otto Kahn, J. P. Morgan, W. D. Gann, and many other large operators of the day. His thought was that you must develop the ability to translate price action, and the volume that drives that action, into trading opportunities.
Wyckoff felt there were three "laws" that defined trading:
- Effort vs. Result
- Cause vs. Effect
- Demand vs. Supply
He also had five steps he felt must be followed EVERY time when trading. Excellence isn't a once in a while event, it must be done on every trade.
- Determine the trend and the position of the stock or commodity.
- Determine the relative strength or weakness of the stock or commodity.
- Trade the stock or commodity that gives you the best chance for profit.
- Determine the readiness of a stock or commodity to move up or move down.
- Time the trade of the individual stock or commodity relative to the general underlying market.
Don't miss this webinar. It will present in terms of classical Wyckoff how the markets really work.
About Our Speaker
Gary Fullett started in commodities in 1981, first as a runner then later earning a seat on the CME. He has seen order flows from large and small clients and understands the mechanisms and functions that the market serves.
He is an expert in the classical Richard Wyckoff methodology. In 1985 he performed Wyckoff technical analysis for Monroe Trout and for C&D Commodities, which worked with Richard Dennis of the Turtle Trader fame.
Gary owns a commodity brokerage firm which is dedicated to education of Wyckoff principles and helping traders with tape reading and understanding how markets truly work.
Gary has taught classical Wyckoff since 1995 to thousands of students with live trading webinars and one on one mentoring. He taught at Wyckoff seminars with Galvin Holmes ( VSA ), David Weis, Gary Dayton and others. Gary teaches traders how to utilize Wyckoff principles every trading day.
Amount of historical data varies from 30 days to 14 years depending on the membership you choose.