[snackly]

Originally Posted by Bearbull »

Once again leave out all this Smart and Dumb money rubbish, KEEP IT SIMPLE focus and learn to gauge Buying and Selling pressure Via Price and Volume at Key levels , there is enough info freely available in the Wyckoff forum to enable you to carry that out if the required effort is made.

The alternative is to carry on , on the same path, even join the VSA club where they teach you to attach meaning to every single bar, where smart money or dumb money has entered and exited, hell if you might also pinpoint where the smartest money (Professional traders and VSA Experts and their disciples) came in, afterall they are able to track the smart money.

Choice is yours.

Sorry I guess I didn't realize the term "smart money" was not a Wyckoff term. I think that's a bit odd since he refers to the composite man, or the professionals. I mean is there that much difference? It would seem at least that term of general meaning is transferrable between Wyckoff and VSA, but what do I know.

As I said I am new and absorbing tons of info from both camps and it can bleed together. Thx.

[snackly]

Originally Posted by sevensa »

Snackly

Can I kindly suggest to read up and study Wyckoff a little more? I don't mean it in a harsh way, but the questions you are asking about Wyckoff doesn't sound like you had read up on it yet. If you did, my apologies for my assumption, and I would suggest that you read the material again. Wyckoff is not just about reading time and sales.

Also, the question about if data speed is important, is not relevant to just Wyckoff. This is relevant to the time frame you are trading. If you are trading off daily bars, the datafeed speed is irrelevant. If you do scalping off 1 second bars, then it probably is. However, your question is not really a Wyckoff question, it is a time frame question.

You make great points. Sorry for cluttering this section with this question.

It seems I may have misjudged the technique. I have been reading the book Wyckoff wrote about being a tape reader, and I also have a book called Charting the Markets, the Wyckoff Way, or whatever.

Can you suggest what might be the canonical reference for this method? Is tape reading alone with the purpose of finding supply/demand point not enough to constitute the full method? Guess I better do some more research.

[lote_tree]

I think that is the most salient point. That the volume on the futures does affect the price of the futures since its derived from the underlying.

Like I said it's the supply and demand dynamic within the underlying that affects the price of the futures market. As I stated in my earlier post, you can say that the volume in the Futures market is affected by the smart money's willingness to buy or sell futures contracts based on their activities in the underlying market.

But you're also saying that despite that the volume of the futures is indicative of the direction of the underlying in the immediate term and therefore indicative of the value of the contract.

I'm saying that the the majority of the time it's the underlyingthat is indicative of the direction of the futures market. Trying to detect whether the Futures market is becoming a leading indicator of short term prices is futile in my opinion. It's much simpler to go with what happens the majority of the time.

It is then fair to say that informed traders are moving volumes of contracts based on their professional and informed views of what the underlying is doing?

It's logical to assume that yes.

Lastly, I sincerly hope you're not trading in futures yet because before you take that step you must have a thorough understanding of how these markets operate. You have no business being in the futures game if you're just beginning to increase your knowledge base. I would hope that you dive into stocks first for a couple of years before getting into futures. That's just some friendly advice mate

[snackly]

Thanks for the feedback and don't worry about me. I am here asking endless questions because I would not trade any instrument without understanding it to the fullest. If you read my posts in the other threads about FX ecns you'll see I've added some useful color to those discussions based on my 2 months of rigorous research. I intend to do the same with futures.

In any case trading stocks would not he'll me as I have no intention of trading equities futures.

I am interested in FX only, spot, futures and options.

Many thanks, and btw my prior post contained a typo, using does instead of doesn't. You made it clear that volume doesn't drive price of futures. I got that, many many thanks for taking the time.

[kuky969]

Please is here anybody who has some experiences with recognize accumulation /distribution proces in bases in intraday E-mini SP500 trading ( short TF 3, 5, 10 min.).????
I would like ask for some sources where I could learn more about it . I red that Wyckoff use Point and Figure charts but I can not find more specific informations.
Thank you a lot

[DbPhoenix]

Originally Posted by kuky969 »

Please is here anybody who has some experiences with recognize accumulation /distribution proces in bases in intraday E-mini SP500 trading ( short TF 3, 5, 10 min.).????
I would like ask for some sources where I could learn more about it . I red that Wyckoff use Point and Figure charts but I can not find more specific informations.
Thank you a lot

As to accumulation and distribution, I answered this question for you in post 52, but that apparently was not satisfactory. Perhaps someone else would like to give it a try.*

As to Wyckoff's use of P&F for intraday trading, see the DayTrader's Bible posted to the Introduction (as a pdf).

*Note that you are far more likely to be successful applying Wyckoff's concept of the springboard to futures than you are his approach to accumulation and distribution since futures have no float. If you don't know what a springboard is, do a search using my name or see my blog.

[kuky969]

[QUOTE=DbPhoenix;47605]As to accumulation and distribution, I answered this question for you in post 52, but that apparently was not satisfactory. Perhaps someone else would like to give it a try.*

DB Thank you. Of course I am satisfied with your answer very well but sometimes it take time for me to understand ( english is not my native lang.but I promise I will improve ) I just want know if somebody use wyckoff principles in distinguish acumulation or distribution in bases in intraday emini SP500 short time frames and if it is much less possible use in future trading. Simply my problem is distinguish in advance in which direction price break from base.
I esteem your work highly and your willingnes to answer to my (sometime no logical) questions. Your book and your work in this side absolutely change my style of trading and I AM VERY GLAD. THANK YOU.

[DbPhoenix]

If your objective is to balance the probabilities of price moving one way or the other out of a base in an instrument such as a futures contract, then, as I said earlier, fretting about accumulation and distribution isn't going to do you much good because there's no float, and the bar interval -- 5m, 15m, whatever -- is largely irrelevant. You can, however, accomplish much the same thing by detecting and correctly interpreting the springboard activity, if any.

Without charts, though, this is all not much more than babble. There must have been at least a few charts that prompted you to ask these questions. Post them and point out those features which interested you. Perhaps the best course is not to worry so much about predicting the direction of the move but to wait for it, then act in whatever way will enable you to take advantage of the move.