Charting the Stock Market: The Wyckoff Method

by Jack K. Hutson

Book Overview

Charting The Stock Market: The Wyckoff Method, takes a modern look at a seminal way to use technical analysis: the Wyckoff method. Charting The Stock Market presents and explains how to use the... This description may be from another edition of this product.

• Format: Paperback
• Language: English
• ISBN: 0938773062
• ISBN13: 9780938773061
• Release Date: October 1991
• Publisher: Technical Analysis
• Length: 204 Pages
• Weight: 0.66 lbs.
• Dimensions: 9.0" x 0.8" x 6.3"

Customer Reviews

Interesting Read

Being new to Wyckoff I have no basis to compare this book to others on the same subject. However I enjoyed the subject matter and found the contents very interesting. Will this make me a successfull trader, I don't think so. I am a great believer in finding your own way to do things after carefull study of other successfull people. This book has given me some ideas to work on which will hopefully give me a better understanding of the price movement of markets. All in all well worth the money I paid.

Gives a great outlook on what is happening in the market

This is a very good book on technical analysis and also gives a great outlook on what is happening in the market. If you understand how the strong-hands are playing the market you can jump on for the ride, and profit! The section on Price-Volume analysis is priceless and makes this book great. If you can watch and comprehend what is going on by using price and volume, you are head and shoulders above most people that trade. Knowing what the strong-hands in the market are doing, and then joining them, is my favorite way to make money. I can't move a market, but I am very good at "jumping on the big dogs back" and riding for profit. The rest of the book was informative, but I have a habit of reading a book and taking the things I like. I like to understand what others in the market are doing, but if it does not resonate with me, or makes my current process more complicated, I do not use it. If you use this book and follow its instructions you will do well. Yes, it is a lot of work, but most successful traders work hard. I have a similar system and Price/volume analysis just makes sense to me. Plus it works well. So use the parts you like. If you do not have a system you designed, or are not a consistent, profitable trader, you can use the Wyckoff process outlined in this book to be consistent and profitable. The author talks about hand charting and analyzing the data. He says it should take about an hour a day. With the advent of computerized trading and Excel, I can configure the data into charts in seconds, then spend about 15 minutes glancing through them. Then focus a little more time on the areas that look interesting. If under an hour a day is too much work, maybe trading is not what you should be looking at? Anyway, its a great book that will give you a more detailed understanding of what is really happening in the market. Good luck.

One of the best technical analysis

This is, in my opinion, one of the best technical analysis books out there. The approach of Richard Wyckoff was developed in the beginning of the century and it still applies. He shows you, in great details, how through price, volume and trend lines you can identify what a stock is doing and what it is about to do. And he did all of it by hand!!! The system is pure and, if combined with other indicators, moving averages, etc. can be powerful. The book is full of technical information. It is condensed, not an easy read but worth every penny and it is one of the least expensive books out there. I highly recommend it.

Amen, brother! I was at my 99th book - time to sell on eBay!

I'm certain that people like the legendary W.D. Gann and other traders of his kind were/are the last to let out the secret that makes them the 5% of successful traders, versus the 95% of us who are but buffalo for them to feast upon. I think many of these 5% write books to bring more of the 95% into the markets as well as to make a profit selling books. Those of us who buy books are the ones who know in our gut that the markets are NOT a "random walk" and are cyclical, and that's how we're lured into the trap of believing someone else out there is going to part with this precious advantage...even Gann never gave up his edge, letting us have all the leftovers from his early years before finding the key, which he'd undoubtedly discovered. So, what to do? Forget about fundamental (news) information on trading as by the time you hear it, it's already priced into the stock or commodity. Pure technical trading, approaching the market chart WITHOUT ALL THOUGHTS OF PROFIT OR LOSS is the only way to divorce yourself from the traps of Fear or Greed that make us the buffalo and not the hunter. If you can't get a feel for one chart, go to another until you find one that's got that ripe look or feel to it. Find the indicators that work for you, or just use a ruler and pencil and let your instinct go to work and make your prediction if one becomes apparent. THEN make the trade.

Interesting

This book explains several things that I didnt see elsewere but I have observed in the stock market. For example, large operator's manipulation (I have seen operators putting large sell orders only to buy stock with small orders). The book covers also how to interpret volume, how to construct a position sheet to rank several stocks (in this topic I think the book could have been more detailed), how to use point and figure to project targets, some psicology for traders, etc. Ah, here you will find no oscillators and no moving averages. I liked the book. Why did I give it 4 stars and not 5 ? Because I think certain explanations are ommiting details and the book could have more examples. In position sheet construction, for example, I think Hutson should put some charts explaining why the stock would be in position 1 and not in position 2. That lack of examples implies you will need to carefully think and rethink about some rules,tips and orientations before devising a methodic way to apply it. Also I think this book is better if you read it in the reverse order of the authors. Let me explain: The book has 3 authors, first section is written by Hutson, etc... I think the last part is more detailed, so that if I bought the book today, I would start reading the third section (this section is the better of the book in my opinion), then second section and finally first section.