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Old 05-15-2008, 10:17 PM
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Kiwi Kiwi is offline
Kiwi is a bandit in the stochastic darkness

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Re: Riding the Wyckoff Wave

"Keep in mind that resistance is not a line but a zone. And that the herd is always right. Except at turning points."

I don't know if you've read the wisdom of crowds but its worth adding to your late night reading pile. One thing I found interesting was a distinction made between situations when crowds are wise and situations when they are not. Crowds are wise when they vote individually - wiser than the individuals. Crowds cease to be wise when they start paying attention to what everyone else is doing the ultimate expression of which is group-think. Does that remind you of anything

A comment on volume and Wyckoff. I never got volume. I kept trying. For years. And I still didn't get it. I think my problem was that I tried to assign too much importance to it, vsa like, and it wasn't until I'd read a million of dbphoenix's sometimes irritatingly vague posts and peoples sometimes frustrated questions that I started to get it. Now volume is an integral part of my trading and the most useful thing it does is keep me out of trades I would have taken without the little clues that volume adds to the pattern of price movement.