I have decided to open another thread specific to the Wyckoff topic since the one about price action is focused on a much broader topic although I will keep posting there as well — even with the lack of life there. Personally I have had great success in this method with market beating results in my stock portfolio started in '08. My current forex, futures and crypto trading portfolio stands at 6.54 profit factor and a 2.81 Sharpe ratio which is quite a modest positive expectancy model.
I have taught a good number of groups and individuals on this and I thought it would be of great benefit to this community if I was sharing live examples as I take them. This is so traders looking for a working realistic method can research more on the topic while seeing varying examples — as a result learn how to apply this concept in real markets independently. Enough about me, the method!
I noticed there’s another thread on the topic here if you prefer the volume based method; Supply/Demand, VSA, Wyckoff with Petefader by @Petefader who has done a great job educating the community on a working formula. This is a great starting point. For the most part, I’ve identified the issue with traders’ sometimes lack of ability to read and interpret volume spread analysis (VSA) along with price. With the [forex] market being extremely hard to find reliable volume data on, it seemed like a better approach to use price action along with supply and demand to increase odds without the “predictive” mentality.
Basically, I’ll be sharing here as time goes. If I can’t sustain two threads, whichever one benefits the community the most will likely consume my attention and inevitably stay alive longer. Posters are allowed as long as it’s within the supply/demand concept with the aim to optimize abilities to find precise entries with Wyckoff.
Note
! Disclaimer; I’m a swing trader softly leaning towards position trading. This means most trades I take span out from a few days to a year(s) depending on profit targets. When I open trades, for clear psychological detachment, I employ a management system that allows me to close certain profits at minimum 1:4 of the overall trade then let the rest run free.
With that being said, this means I don’t share daily setups and trades as opposed to the avid day trader. But over time, the message is conveyed to the keen student of the market.
Let’s keep it interesting, civil and honest
My recent post was on entries taken on EURCHF, AUDCHF & CADJPY found in the thread
A P.A.T - Advance Price Action Trading, I’ll share screens on open positions below just for an idea. Enjoy!
