2013/06/ba0ae_forex_trading_methods_51UJp5-R7JL._SL160_

Trades About to Happen: A Modern Adaptation of the Wyckoff Method (Wiley Trading)

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Trades About to Happen: A Modern Adaptation of the Wyckoff Method

The definitive book on adapting the classic work of Richard Wyckoff to today's marketsPrice and volume analysis is one of the most effective approaches to market analysis. It was pioneered by Richard Wyckoff, who worked on Wall Street during the golden age of technical analysis. In Trades About to Happen, veteran trader David Weis explains how to utilize the principles behind Wyckoff's work and make effective trades with this method.Page by page, Weis clearly demonstrates how to construct intrad

List Price: $ 75.00 Price: $ 37.95

3 thoughts on “Trades About to Happen: A Modern Adaptation of the Wyckoff Method (Wiley Trading)”

  1. 3 of 3 people found the following review helpful
    2.0 out of 5 stars
    Wyckoff up so much?, June 1, 2013
    By 
    Sailor Dunc (Vancouver, Canada) –

    Amazon Verified Purchase(What’s this?)

    In Trades About to Happen we are promised a modern adaptation of the Wyckoff “method”. Richard Wyckoff was a pioneer TA practitioner and scribe/educator of value. Discussions of his approach are of interest and Weis comes across as a serious presenter who knows the subject matter well. One can learn from this book. I found it illuminating to know some of the classic Wyckoff models (e.g. the accumulation-distribution “cycle” one sees replicated in book after book, came not from Wyckoff but from later “disciples” who made careers extrapolating his scattered insights into a more cohesive, and marketable package.

    The school of TA that Wyckoff is representative of, emphasizes developing a hard won intuitive sense of detailed price action, RATHER than rely on cookie cutter patterns, or become dependent of a vast array of fundamental metrics OR technical indicators. Wyckoff himself it seems spent happy and lucrative years absorbing reams of ticker tape printouts. At a time when few other tools were available, he would also assess volume as indicative of the effort or force behind the changes he was observing.

    Weis situates himself firmly in this tradition by presenting detailed blow by blow commentary, like a savy sportscaster, of the tug of war behind the price bars, right down to ticks and pips. These chart reviews comprise the bulk of the modest sized book. His point, like Wyckoff being not, if you see this again, this is what will happen, but rather just, learn to SEE like this. Be able to examine any price history with these kinds of eyes to sense the story it reveals. Build from there.

    Alas the effectiveness of these elucid chart “sportscasts” is blown. Why? The bargain basement editing of the sons of Wiley. “Look what happens in the very next bar!”, leads you flipping madly back, sometimes many pages or screens to find it. Wait a minute, exactly which bar was that again? Wildly flip forward to re-find the text. Back again. Oh yea, a real lack of conviction if there ever was one. Flip forward to next sentence. “Now looks at…” Same need, and on and on. For MOST of the entire book. If you insist on subjecting yourself to this hide and seek torture, at least opt for the Kindle edition. By fiddling with margins and font sizes you can often FORCE the chart onto the same screen as the current text. And of course you can zoom the chart image for a much clearer look. But be forewarned; the fiddling will be CONSTANT. To really do justice to the author’s core effort one would have to print out or bring these charts up on a dedicated screen.

    So much for the medium. What about the message? Weis is obviously a highly atuned “tape reader”. One who has found success on the speaker/coach circuit. But do not expect more than hints for trades about to happen. His mainstream assertions of volume being “key”, the surprising, if intriguing, remark that single period ATR bars can be used as a “proxy” for volume and his career affinity with the promising but subjective world of wave counting, all leaves one wondering. As does his emphasizing of pips and ticks concluding at the end of the work with a primer on Renko charts, whose principle merit is filtering out all the noise. Yes Wyckoff studied both since micro and macro views of course have their place, as well as their limitations. But as for bringing it all together for them trades about to happen? Keep your expectations very modest. Other Wyckoff appreciating TAs like Adam Grimes offer far more comprehensive fare, both on the realistic seeing AND the realistic doing.

    “You can make a living trading springs and thrusts”, Weis likes to say, tantalizingly. While this Wyckoff inspired TA insight IS a quote worthy of the wall above your monitor, here it seems more a grateful nod on livings made presenting on such topics rather than for YOUR liviing actually trading them. In Trades About to Happen one feels the discussion is about to happen, but, no matter how much you flip back and forth, never quite does. IF Wiley cleans up the chart/text integration in a revised edition, 3 stars for an interesting read, meanwhile…
    and Sail On!

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  2. 6 of 6 people found the following review helpful
    3.0 out of 5 stars
    Depends on your style and your knowledge of trends, May 21, 2013
    Amazon Verified Purchase(What’s this?)
    This review is from: Trades About to Happen: A Modern Adaptation of the Wyckoff Method (Wiley Trading) (Hardcover)

    When I ordered this book I based in on the reviews and my perception that it would give me more insight on how to deal with areas of consolidation. I really tried to stay objective even though the book uses bar charts which I dont use and had examples of charts that were a lot smaller than they should have been for the amount of detail we were supposed to pick out from them.Unfortunately I only found a couple of chapters useful which is largely based on my investment style and my desire to keep my analysis as simple as possible. I really didnt need chapters on point and figure or wave analysis since this would take more time to incoporate than I feel I want to spend(it was 71 pages out of the 198 pages in book) . I also didnt like the fact that most of the charts were not on the same page as their description which forced you to go back and forth for 80% of the example charts. That wouldnt be such a big deal if it wasnt for the 10 plus different things that were pointed out for each chart. The author obvioulsy knows his stuff inside out and he does a great job explaining springs and upthrusts but he is not at the level of Adam Grimes or John Murphy who I think are the best at explaining technical analysis to the novice and pro alike. So as a stand alone resource for technical analysis it falls short but if you want more depth on the topics I mentioned above then it may be useful to you.

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  3. 10 of 10 people found the following review helpful
    4.0 out of 5 stars
    A Classic Approach to Developing Your Trader’s Intuition, May 8, 2013
    By 
    Alan Lattanner (Truckee, CA) –
    (REAL NAME)
      

    Amazon Verified Purchase(What’s this?)
    This review is from: Trades About to Happen: A Modern Adaptation of the Wyckoff Method (Wiley Trading) (Hardcover)

    This is a book about anticipation and intuition written for discretionary traders in any market. The title refers to “setups” as they are known in the trade. Setups are price and volume behavior, as shown on a bar chart, that the trader interprets in terms of subsequent directional movement in order to profit from same. Anticipation is the name of the game. The Wycoff Method described in this book is a means of identifying high-probability trades on the basis of various chart setups. Also described in detail is a modern version of tape reading. The author is a successful trader and educator using the methods described.

    The book starts with a clear graphic entitled “Where to Find Trades” showing a stock chart with annotations at key trade-entry points using terms described in the book in detail such as Upthrust, Spring, Breakout, Absorption and more. The book starts with a description of “how to draw lines,” one of the simpler concepts that traders use, but a technique often used inconsistently. Further, the interpretation of lines of support, resistance and trend are shown to convey a great deal of information to the trader who knows how to read them. Once drawn, price behavior relative to the lines forms the basis for a tradeable setup. “They tell a story and make price-volume behavior stand out,” says the author. He continues, “turning points often occur at the nexus of lines.” That gives a clue about how setups develop. Even experienced traders may benefit from these insights.

    One particular aspect of this author’s writing style appeals to me. That is his balanced approach when summarizing each method. He frequently reminds the reader that “anything can happen” despite the formation of a seemingly-promising setup. I do not see this as a cop-out, but rather as the voice of experience. Developing a trading system or methodology is an exercise in probabilities, and it is the wise trader who reminds himself of this every day.

    The discussion of “Springs” is quite interesting. Springs are strong upward-reversals from a downtrend. “I know of no better trading strategy than the Spring…,” he says. Again, he goes into considerable detail about how to identify a Spring, and how to validate it via price action. The chapter on Absorption (an interpretive term describing certain types of weakening trend action, up or down) is also informative. A chapter on “Chart Studies” combines all of the individual setups found in the first seven chapters. The last portion of the book is focused on tape reading and point-and-figure charts. The author readily admits that working through a minute-chart of a trading day is “terribly tedious,” but asserts that his years of focus on the tape at this micro level “provides a tremendous edge.” This, he says, is how you develop your trader’s intuition.

    Some desirable things are missing in this book. Discussions on how to actually trade a setup are quite limited. Where do you place your entry order (stop, limit or market)? Where do you place your stop? What if subsequent price action causes you to question the setup you think you saw? The lack of attention to this aspect of trading the Wycoff Method is unfortunate. The book has no glossary. Many of the terms are not widely used in the trading literature, and some that are have special meaning under the Wycoff Method. The author references quite a few books via footnotes, yet there is no Bibliography in the back of the book. The index is minimal.

    In summary, this book is clearly written by an expert in the method. It contains information valuable to traders of all levels. I rate it four stars, with one knocked off for the omissions noted above.

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