[cantana]

Originally Posted by DbPhoenix »

I don't recall where I read this, but at some point he said that the best entry -- though the most aggressive -- was the climax; second best, the test; worst, the breakout above the intervening swing point, largely because everybody on the planet is looking at that point.

I wonder if, considering an entry during a climax, he would hold on into a retest? Or maybe he was planing to staying in only as long as it turned out to be a V bottom?
I don't see how entering at the climax would be advantages otherwise.

I'm just thinking about the “poke” effect on a W

[DbPhoenix]

Originally Posted by cantana »

I wonder if, considering an entry during a climax, he would hold on into a retest? Or maybe he was planing to staying in only as long as it turned out to be a V bottom?
I don't see how entering at the climax would be advantages otherwise.

I'm just thinking about the “poke” effect on a W

Well, assuming that he was better at all this, he'd also be better about distinguishing between a "preliminary" selling climax and the real thing. In any case, the stop is below the climax swing. If the test were a lower low, I assume he'd stop himself out and re-enter. To do otherwise might be to assume that one has information that one doesn't really have but is actually hoping, instead.

The advantage, of course, is getting in at a lower price, but there is also the advantage of having all the short-coverers propel you into a profit position fairly quickly, along with all those who were supporting the reversal in the first place.

[treadstone]

Wouldn't it be great to bring Wyckoff back, he'd probably tune in within around 10 minutes and start making money out of the e mini's.

[tune]

Was there any form of TICK in those days?

[DbPhoenix]

Originally Posted by tune »

Was there any form of TICK in those days?

If you mean literally, no. But then there were only a fraction of the listings then that there are today. So given that he was a tape reader, I suspect that he had a subconscious "feel" for how many issues were rising and how many falling. He also incorporated activity and pace, which mattered as much then as it does now. It wasn't that difficult to feel when the tape was jumping to life, just as it does today after Fed announcements.

[DbPhoenix]

Originally Posted by treadstone »

Wouldn't it be great to bring Wyckoff back, he'd probably tune in within around 10 minutes and start making money out of the e mini's.

I suspect he'd wet himself over RT streaming charts.

[tune]

Originally Posted by DbPhoenix »

I suspect he'd wet himself over RT streaming charts.

And be quite pleased about getting Saturday off as well.

[gassah]

Originally Posted by DbPhoenix »

I don't recall where I read this,.

It's in the course and I'll dig it out this week.