@I_Am_The_ICT Concepts don’t have edge. The edge of concepts is discretion so it’s up to the trader. Concepts alone are pretty useless.
Statistical edge is modelled on strategies or entry-exit models with precise rules. And yes I’ve hired quants to test the models you propose. Follows thread
There's a version of you who never sleeps in.
Never skips training.
Never wastes time.
There is a version of you who never fails.
He's waiting for you.
Anger is extremely powerful.
Like nuclear fission.
If you allow it to run wild it is extremely destructive.
But directed correctly it can give you unlimited energy to build an Empire from.
https://t.co/iRntI6QE9G
Richard Wyckoff Theory Of Accumulation And Distribution:
The Richard Wyckoff Theory of accumulation and distribution focuses on supply and demand for a stock, cause and effect, and the law of effort for a stock.
Here are the five steps to the Wyckoff Method strategy for stock selection and trade entry:
1. What could be the probable future trend of a stock based on its present chart and the market price action? Is the stock market currently under consolidation or is it consistently trending in one direction? What is the current the path of least resistance for the market? Is it making higher highs, lower lows, or going sideways? For this step focus on the stock market indexes. The direction of the trend on the indexes should determine if you are thinking long or short.
2. Choose stocks that are moving in the same direction as the market trend. During an uptrend, choose stocks that are going up more than the general market. Filter for stocks that are a moving a higher percentage up in price than the market indexes on up days and going down less than the market on down days. During a market downtrend, do the inverse, filter for stocks that are going down more than the market index on down days. Look for clear moves on stocks, don’t waste time on ones that are volatile. Look at the trends on a stock’s charts versus the stock market indexes for Step 2.
3. Choose stocks with a “cause” that is equal to or more than your minimum objective. A primary component of Wyckoff’s stock picking and trade management was his strategy for identifying potential price targets using Point and Figure (P&F) projections for trades. In Richard Wyckoff’s fundamental law of “Cause and Effect,” the horizontal P&F count within a trading range represents the cause, while the subsequent price movement represents the effect. Pick stocks to go long that are currently under accumulation or re-accumulation and have a meaningful “cause” for your price target objective. Step 3 uses Point and Figure charts for stock selection.
4. Is the stock ready to move and trend? If a stock is in a trading range after an uptrend, does it look like enough supply of the stock is being sold that a short position could be the best risk/reward ratio? During an accumulation in a trading range, has the supply been traded inside the range through a low volume bounce at price support. Wyckoff used both Bar charts and Point and Figure charts for Step 4.
5. Time your trades with the stock market index turns. 3/4ths or more of stocks trend with the stock market indexes. You can increase the probability of winning trades by going with trades in the same direction as the trend of the total stock market. Wyckoff trading principles try to assist in anticipating the next high probability market moves. His method tries to identify a change in the nature of price action like identifying the largest down bar with the highest volume after a long uptrend. He advised to place your stop loss at entry, then use a trailing stop if a trade went in your favor to maximize any gains until you exit. He used bar charts and Point and Figure charts for Step 5.
These 5 steps are an overview of the Wyckoff method along with his three laws of price action below in this Twitter thread. 👇
Life on expert mode.
Maximum possible score at the maximum possible difficulty.
NO MISTAKES.
Powerful enemies plot your demise.
Spectators enthralled with your every move.
Stole the spotlight from every other player in the game.
Admiration turned to hate.
Everyone wants to be king,
Nobody wants to hold the sword.
Hard to sleep,
Daggers only come in the night.
Poison is tasteless
Are you sure your food is alright?
Life on expert mode isn't for everybody.
I understand why most others don't want to play it.
But someone needs to show the world it can be done.
Strength, Discipline, Honor.
That's how you win.