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Any suggestions on books or literature available on the Wyckoff method
of trading? I have read a small, but good book by Rollo Tape
(Wyckoff's pseudonym) that I found to be useful. Are there any other
references that others have found to be valuable?
Patrick White
-----Original Message-----
From: charles meyer <chmeyer@xxxxxxxx>
To: knyyt <knyyt@xxxxxxxxxxxx>; OmegaList <omega-list@xxxxxxxxxx>
Date: Saturday, June 12, 1999 12:30 PM
Subject: Re: Market Profile
Knyyt:
I wish I knew what to tell you. I read all the books and ask a lot
of questions from others who had taken the courses and tried
to trade using the MP methodology. IMHO, it is difficult to apply.
Peter Steidelmayer is gifted but I was told that the students had
difficulty making money trading MP. There is some organization
out of Chicago that will sell you data to be downloaded. I talked
with them also but concluded there was nothing sane to be offered
that was useful. After all, they weren't trading with these methods
they were selling the information to institutions and individuals.
I even subscribed to the MP study on my Ensign for a long time
until I concluded that it wasn't providing any useful information
for trading. Someone also intimated that Steidelmayer made a lot
of money using floor techniques that have nothing to do with MP--
some riskless type trades involving the way orders are handled.
All during the times I waded through the literature I kept asking
myself;
how does this information provide me with any clues as what to do
NOW. I never received any satisfactory answers to that question I
asked of myself and concluded that this was not the method of
choice for learning how to trade. Hope this helps but this is from
just one individual's experience. For a simpler understanding I would
suggest studying the Wyckoff principles as they relate to the
relation-
ship between price and volume. The Wyckoff and MP principles
are actually no different--Steidelmayer simply tried to take it to a
higher level. I'm just not sure if anything was added to the mix.
Now
let me hear from you guys making the big bucks trading the MP
techniques.
Charles
-----Original Message-----
From: knyyt <knyyt@xxxxxxxxxxxx>
To: OmegaList <omega-list@xxxxxxxxxx>
Date: Saturday, June 12, 1999 11:40 AM
Subject: Market Profile
>
> Since the responses to my last questions seems to have been answered
( And
>already discovered ),
> Would a few be willing to share their experiances with " market
profile ",
>in that, its worthless,..
> or found it useful... etc.... Knyyt ..
>
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