[LeeRain]

I paper traded for the last 4-5 months and I'm feeling I'm ready to refine my trading skills and I know that I can do so only if I trade live (even with the smallest amount of money).

[wunderlich]

For the calculation of the Wyckoff Wave, SMI has for each component a mutiplier.

Does anybody know, the base for this calculation of the multiplier? And how often or when is he adjusted?

Thanks in advance

W

[Gringo]

Hi,

I suggest you check with SMI. Why not get the exact information you need from the source.

[jitasb]

Hello.

Have just strated to read thru the Wyckoff material. Have a quick couple of questions:

1. When you plot volume by price in order to highlight the 'zones' of most trading activity. Is the idea to trade breaks, false breaks,break and retrace type behaviour from these zones ? rather than trade within the zones themselves ? In which case one could also draw lines at these extremes rather than enclose them in a box.

2. If trading Forex, would a volume by price chart still be tradeable, or would you need to just view the zones uisng price action areas of support and resistance.?

I realise that these questions are probably very basic, so feel free to refer me to a page/thread which probably already contains the answers.

Thanks

[cunparis]

Originally Posted by jitasb »

Hello.

Have just strated to read thru the Wyckoff material. Have a quick couple of questions:

1. When you plot volume by price in order to highlight the 'zones' of most trading activity. Is the idea to trade breaks, false breaks,break and retrace type behaviour from these zones ? rather than trade within the zones themselves ? In which case one could also draw lines at these extremes rather than enclose them in a box.

This is precisely what I do. I look for trade opportunities at the boundaries. I just blogged about this today:

A look back on my journey – Part 6 – Volume Profiling » Trade With The Flow

For forex, we don't have volume information so how are you plotting volume by price?

[jitasb]

Originally Posted by cunparis »

This is precisely what I do. I look for trade opportunities at the boundaries. I just blogged about this today:

A look back on my journey – Part 6 – Volume Profiling » Trade With The Flow

For forex, we don't have volume information so how are you plotting volume by price?

Thanks,

I'll have a look.

In terms of Forex, I mis-phrased my question. As you say we don't have volume. So the question should have been "Since no volume on Forex, you can't identify the zones via volume peaks. So do people just use Price action behaviour to identify the zones" ?

[cunparis]

Originally Posted by jitasb »

Thanks,

I'll have a look.

In terms of Forex, I mis-phrased my question. As you say we don't have volume. So the question should have been "Since no volume on Forex, you can't identify the zones via volume peaks. So do people just use Price action behaviour to identify the zones" ?

Me personally I trade the currencies, euro mainly, based on S/R with the price extremes. I'm new to trading currencies this way so I'm still doing a demo account but so far results are positive and I plan to go to a micro account soon.

[Head2k]

Originally Posted by jitasb »

In terms of Forex, I mis-phrased my question. As you say we don't have volume. So the question should have been "Since no volume on Forex, you can't identify the zones via volume peaks. So do people just use Price action behaviour to identify the zones" ?

Notice that DbPhoenix doesn't use Volume At Price much, but identifies the zones in a price chart (see e.g. this thread). For that purpose a chart constructed of bars dependent on amount of activity is more suitable than a time based chart. DbPhoenix uses Constant Volume Bar (CVB) charts. If volume is not available, you can as well use N-tick charts.