Remove

-->

2nd Mar '19 by AnonymousUser605348

7 comments 1495 reads

Remove

Unlock with Email

Unlock with Google

Already have an account?
Login here

About the Author

AnonymousUser605348

Premium Member

7 comments

AnonymousUser605348

2nd Mar '19

Did this cause offense? Of course the titles used in my threads are designed to provoke discussion. If people would like the post removed, comment to that effect and it shall be so.

But if you're just pro-Wykoff then please provide a argument for the Wykoff spring. I am entirely willing to accept that the method may have merit. The number of people discussing it on Stocko is testament to the idea. But don't just keep your views and their foundations to yourself. If you think it works, can you say why? Let the newer guys learn from your expertise.

Cheers,

mario64

HumourMe

2nd Mar '19

It may be the recent posts that I read, however, it is only this thread https://www.stockopedia.com/content/free-stock-alerts-and-content-442658/ where Wykoff has been mentioned. Searching for stockopedia, wykoff on google doesn't turn up much, so possibly the premise of the thread title is wrong and this provoked the negative response?

AnonymousUser605348

2nd Mar '19

@HumourMe

They aren't calling it a Wyckoff spring... But the Minervini methods, that are discussed at some length in some threads on Stocko (not just the one you've hyperlinked) look suspiciously like Wyckoff springs to me... Indeed the article you highlight equates the two methods to a degree...

So you see my point? Again if I've misunderstood, anyone is welcome to tell me why the two methods are unrelated, or if they are related, why they think Wyckoff springs actually do work.

HumourMe

2nd Mar '19

OK I've looked up Wykoff. Minervini's stages (also Weinstein) do seem similar. However, I believe that this site primarily attracts 'fundamentalists', techno-fundamentalists, pure factorists and techno-factorists (I've just made up the last two terms, I'm the latter). Those who are wedded to just technicals and most likely to defend or even know what you were referring to are likely thin on the ground.

Of the Minervini followers, most take some aspects of his writings and due to the nature of the site bolt it on to either fundamentals or factors. Minervini covers, amongst other things, fundamentals, technicals (used to identify stage 2/ markup/ uptrends), and position sizing/risk management (it is often the latter that new investors overlook although diversification may make this moot). Minervini emphasises low risk entries (after a specific setup called a volatility contraction pattern) that allow tight stops (for risk management). So I don't think that people using aspects from his books would necessarily feel the need to respond.

Back to 'markup'. We know from academic factors, that trends of 3 months to a year tend to persist, on balance (across a portfolio, if sufficiently diversified) https://help.stockopedia.com/p.... So identifying stage 2/markup and jumping on board has historically worked. Why do you think that it hasn't?

Of course some people gave you the thumbs down. This might be because a) they disagreed with the premise, b) didn't care for a technical discussion or c) wanted to better understand why you thought it rubbish. I suspect it was 'b' as this series (to my surprise) provoked little discussion https://www.stockopedia.com/co...

AnonymousUser605348

2nd Mar '19

Thanks @HumourMe, this was really helpful. To be clear, I don't have enough knowledge on Wyckoff or Minervini to know if it is rubbish. I'm used to using clickbaity and emotive phrases to stoke spirited debate (outside of Stocko) and I think people might be finding the approach a little abrasive on here. I will take this on board and try to adapt to the community moving forward. But I am always going to try to provoke a response, a debate and comment from those more knowledgeable than myself. Here to learn at the end of the day.

Thanks for your engagement

mario64

HumourMe

2nd Mar '19

At the risk of speaking for 'the community' I think the expectation here is for a considered view, that people can in turn consider and respond to. You are much more likely to get a response to that approach (although you might just get silence, if there is nothing else to add or people don't care). Low involvement posts and those that the reader has to work to comprehend tend to be ignored or just not understood.

A long time ago I read that communication consists of idea> encoding> transmission > decoding> interpretation. We can only control the first two stages, so these should be as clear as possible to help with our objective (I'm far from perfect and on re-reading my own, am forced to edit).

My own opinion, is that if the original poster can't be bothered, then why should I do any work? If it is clear that people have made an effort, even when I'm not particularly interested in the topic, I'll up-vote it to help others, who may be interested, find it, as I've found many interesting posts via this mechanism. However, these are my views which others might not share.

Just as a follow up here is a link to a review of the first Minervini book (there are a lot of investment book reviews there). You'll see if you follow the link that there is vastly more covered than my brief overview. I share the view that it is worth reading and re-reading as it is one of the better ones. It is though more difficult to apply to small caps in the UK, than the US, due to spread alone.

Back to the technicals. Most analysis of price action (for longs) boils down, IMO, to looking for rising lows with rising highs (an uptrend) or identifying range bound periods (consolidation/base) and setting buy points and stops accordingly. There are a number of tools identified in the Minervini books that can help with this. If I recall correctly (which means I should take my own advice and re-read them) the emphasis is on trying to be consistent and compounding gains with the next event.

AnonymousUser605348

3rd Mar '19

Thanks HumourMe, that's valuable insight. In some community spaces online, and I'm really talking about Youtube here, but it applies to other media too, people simply won't engage with you unless you use shock factor. Of course cultures vary drastically from one community to another. My main purpose of using this space, which after all is headed 'Discuss', is to learn. I want people to give me their opinions. Denigrate a trading strategy on Youtube (and to clarify, I did not denigrate Wyckoff or Minervini on this thread) and people can't wait to tell you why you're wrong. And it actually provides a great deal of free, impassioned information from people in the know. My other aim, at least this week, was to see how active and inclusive the community are. What do they enjoy discussing? And is it skewed toward major posts or is there a fair amount of 'low level' posting? I have certainly garnered Some information on that. And to be quite honest, when you are in a free trial period, you need to test as much out as you can in a short space of time. Is it a bit selfish? I geuss so, but my dollars are as green as everyone else's, and I do, and have, complied with the terms of service. I don't personally think I am going to learn a great deal in the discussion threads. But a few comments I've had, from yourself included, show me that there are some members that are more willing to engage. That's not a criticism of those who don't wish to engage, or who find n00b posts inane. I'm evaluating the service, and fully respect the community.

On the issue of technicals, anyone who read my earlier posts, or profile, knows I consider myself an "ex-Technician". I haven't got an axe to grind, but I have become skeptical of a lot of TA. In other ways though I remain hopeful on methods that personally I never tried. Wyckoff, Minervini and RN Elliot, whose methods all seem very similar to me, is something that I have never tried because it's not the school of TA I come from. Alexander Elder was more my bag. He was very critical of 'wave' trading. I Was a bit surprised that, what I saw as Wyckoff springs, are popular among the TA minority on Stocko. So if someone who is an impassioned Wyckoff follower, wants to Discuss it, and help a n00b to 'get it' that's great. And if not, I can find the info elsewhere. I don't think asking on the discussion threads first, means you can't be bothered mind. Some people love to chat about, and can't wait to explain, their method of trading. For others it's a yawn-fest. At least I have a barometer now.

Thanks for humouring me, I do appreciate it

mario64

Unlock the metrics for all these stocks and more...

Take a free trial

Facebook Twitter Youtube Instagram RSS

This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.

Unlock the metrics for all these stocks and more...

Take a free trial

Remove

Unlock the rest of this article with a 14 day trial

About the Author

AnonymousUser605348

7 comments

Unlock the metrics for all these stocks and more...

Unlock the metrics for all these stocks and more...