Timing the Trade the Wyckoff Way Message Board

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Strategies & Market Trends : Timing the Trade the Wyckoff Way

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To: coferspeculator who wrote (176)	7/18/2004 11:44:18 AM
From: coferspeculator	of 14340

From the weekend report I felt that some of the following might be of interest to those designing their own aggressive trading program. "It is very important to make sure when using the 1-2-3 entry for aggressive trades that all six conditions be met. There is a tendency during an acceleration to the up or downside to forget or dismiss three important factors. A. The counter trend line needs to be broken either before or on the day the trade signal is given. This step suggests to the speculator that the temporary short term reaction or rally trend is broken, offering a trading position as the actual trend progresses. Don't take it earlier. There are other times when using Wyckoff that it can be considered but when using the 1-2-3 process this needs to be confirmed. B. The 3-1 ration has got to exist. Don't be taking aggressive positions when the Reward/Risk isn't there. Don't make up an exit position for the purpose of fitting a 3-1 ratio into the taking of a position. The stop should be positioned where you have found that over 65% of the results during the practice trading period show that you will attain the 3-1 goal. C. The spread, volume and close have to meet the parameters that are required. There are no exceptions. The 1-2-3 process is for aggressive trading only. It is important that all the six conditions be met since trades are being made in harmony and in step with the trend. Step five of the Wyckoff program suggests that positions are taken as the market begins it's turn. Aggressive trading involves taking positions as the move progresses. If the speculator is going to take positions as the move progresses it is important to have every factor working for them."

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