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Old 03-07-2013, 01:23 PM   #9

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Re: Eminiman414's Log (Learning Wyckoff)

Did you take any trades today?. It was particulary choppy.
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Old 03-07-2013, 01:29 PM   #10

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Re: Eminiman414's Log (Learning Wyckoff)

No trades today. My plan was a little wishy washy and did not feel too confident so I sat back and watched.
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Old 03-08-2013, 03:51 PM   #11

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Re: Eminiman414's Log (Learning Wyckoff)

Didn't post my foresight analysis last night as I was at the Ranger game. My intial plan was going long at a break/test of 2809. That break happened when I was waking up so the new plan was to short the 2809 area or the 2815/20 area based on trader behavior and looking for price to come back to the midpoint. Typing this is obv hindsight for you all to read but I had it down on paper at my desk.

I am posting a 1 min for context and took notes on what I was observing on the 1 tick chart which for the purpose of this journal I call the tape. I am typing my exact words as these were real time notes, that I myself will review later today.

9:30-9:45
buyers began to move price up however the tape was slow. Buyers just did not seem to have the steam. Sellers came in and moved price down to 2809 and continued to move price down with no opposition from buyers. Buyers then moved price up to 2809 but the tape was very slow. I entered my short at 2807.75 with my stop at 2810. At one point, I do not remember exactly when I start to get very suspicous due to how slow the tape actually was. I have never seen activity this slow at this time of the day so I exited for no other reason than I was very uncomfortable. No gain, no loss.

9:45-10:00
Sellers eventually moved price down to the prior days high. Price moved sideways there for a bit. There were a few "harder" spurts down by sellers and hardly any reaction back up. Led me to believe we were going to continue down. Sellers started to increase the pace (still slower then "usual" however)
9:48: price is moving sideways at 2800.50 which is near the midpoint of the range btw 2780 and 2815/20.
9:50: buyers start to come in and push price back up to the prior days high and break the supply line I had drawn. Realistically this should have been my exit.
9:52-53: Buyers seem to be showing strength but the tape stops dead and again sellers come in with a few quick spurts pushing price below the prior day high. The spurts seem more aggressive then the whole upwave that brough price back to where we are. (this could have been a good place for re-entry....hindsight of course)
9:55-56: after the "more aggressive" spurts sellers slowing bring price back to 2800.5 and then the swing low is broken showing.
9:59: Small buying wave but again tape stops dead and resumes downward

10:00-10:15
2798 hit, speed picks up as price moves down through the midpoint and approaches low of day.
10:02: buyers move price back up to mp but tape even slower and less intense.
10:04: still at the midpoint and hesitating. Price moves down but then makes a 2nd attempt at the mp, this time it was a bigger upwave.
10:07: again no real intensity from buyers and sellers move price down to hit the low of the day.
10:10: new supply line broken but no real intensity from buyers on the break. Sellers again move price to low of day.
10:13: sellers still in control

10:15-10:30
Tape again is very slow.
Buyers push price off the low of day. Prob the second biggest push by buyers so far today.
10:17-18: again tape stops and sellers bring down price but at the moment make a higher low. Tape is making higher lows all the way back up to the swing high. (buyers taking control?)
10:20: swing high not yet broken and then broken
10:21-24: buyers move price back to the midpoint from the low of day. Price is hanging around the mp.
10:28: tape still again very slow however buyers continue to move price up. There seems to be no selling interest at this time.


That is my notes from today. One point that was very clear today was the fact that price can move on low volume as DB has stated. Tape was slower then I have witnessed before and the volume was low yet price continued its journey to the low of the day.

Thanks for reading and please as always any and all comments are welcome. I did not post the tick charts as I feel there would be too many, but if anyone is interested in that I can start to post up those charts that are associated with the times or maybe more "important" times in my notes for a clearer picture. Let me know.
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Old 03-09-2013, 08:58 AM   #12

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Re: Eminiman414's Log (Learning Wyckoff)

Quote:
Originally Posted by eminiman414 »

Thanks for reading and please as always any and all comments are welcome. I did not post the tick charts as I feel there would be too many, but if anyone is interested in that I can start to post up those charts that are associated with the times or maybe more "important" times in my notes for a clearer picture. Let me know.
Interesting, you are giving me many ideas for my analysis. When analyzing the NQ i used a 30 tick chart to be able to see the whole day in a single screen, if the day is slow 20 tick will do.
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Old 03-09-2013, 01:02 PM   #13

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Re: Eminiman414's Log (Learning Wyckoff)

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Originally Posted by Nikorivera »
Interesting, you are giving me many ideas for my analysis. When analyzing the NQ i used a 30 tick chart to be able to see the whole day in a single screen, if the day is slow 20 tick will do.
Nice! I'll take a look at those charts. I have been using a 1 range chart also which I sortable use as my "wave chart" it gives me pretty much the whole day and at the open gives me most of the overnight as well. That w the one minute chart gives me what I need for now. I find the 1 tick extremely fascinating and I like the continuous flow. It helps me get into a rthym almost whereas watching any other interval I find myself asking what's going on. I see the ticker stop on the larger interval and wonder well is it really stopped or is price moving sideways. Don't know if that has any relevance to my trading just yet but I just am fascinated by the 1 tick.
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Old 03-09-2013, 01:05 PM   #14

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Re: Eminiman414's Log (Learning Wyckoff)

Also I am thinking of getting a tape recorder and instead of furiously hand writting everything just talk out loud and record it. I can write it out later. I dont want to lose focus by writing too much.
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Old 03-09-2013, 06:22 PM   #15

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Re: Eminiman414's Log (Learning Wyckoff)

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Originally Posted by eminiman414 »
Also I am thinking of getting a tape recorder and instead of furiously hand writting everything just talk out loud and record it. I can write it out later. I dont want to lose focus by writing too much.
Why dont you use your computer recorder, now, i tried it but never have the time to listen to 3 hours of recoding anyway .

I use the windows notepad to write ideas during the day as it does not require as much screen space as word.
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Old 03-11-2013, 06:49 PM   #16

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Re: Eminiman414's Log (Learning Wyckoff)

My focus is still on the 2820/15 or so area. Keeping an eye on the sideways movement we are seeing between 2790 and 2809. Potential plays I see are shorting potential R at 2820/15 being aware of what happens if price gets back to 2809 or 2800. Going long at the break/test of 2820/15 area with the possible potential to hit the bottom of the range from 9/14-9/25 at 2832/34. Finally a possible long at 2809 and observing behaviors at 2820/15. Is it safe to assume a slow week given the expiration date?
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