Gee, this thread is getting a fair bit of interest now, I'm not...

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    Gee, this thread is getting a fair bit of interest now, I'm not sure if that is a good thing, or a bad thing.

    Anyway, it is what it is I guess......

    I don't really know how much each of you already know, and how much background you will each need to begin with.....so,

    All you new arrivals should read "Master the Markets" by Tom Williams (if you haven't already), preferably a couple of times so it starts to sink in, as this will give you all a reasonable background or base, from which to work from.  
    Some of the text is fairly old, and some of the terms mentioned in the markets are now a bit old fashioned, as an example there is a mention of  "Private Trading Syndicates" which were sort of like the forerunner to today's "Hedge Funds".
    Don't worry about the old fashioned text, the actual reading of the chart is the same now, as it has been for decades, so the jist of the book is as relevant as it was when it was written.
    Initially, it is a lot of information to absorb all at once, and most people feel a bit overwhelmed, this is pretty normal, so don't worry about it.  
    And everyone learns at different speeds, so feel free to ask any questions that will help to you understand what is written, more quickly, and I will attempt to answer them as we move forward.
    Most of the information regarding VSA & Wyckoff is just common sense, and is very logical when you think about it, and understand it.
    There should be plenty of free downloads around for Master the Markets on the web, as it is a bit of a marketing tool for the business 'TradeGuider International' (no need to buy any of the products at this point in time though), as the book was originally called "The Undeclared Secrets that Drive the Stock Market".
    The book also lays down quite thickly, the potential manipulation that can be found within all the different markets (it is the way TradeGuider attempts to recruit buyers of their products).  
    Manipulation and tricks do go on, there is no doubt about it, but can be a bit over exaggerated in the book, almost to the point of taking the starring role of the book, so take those suggestions with a little pinch of salt as you read.

    Finally, VSA and Wyckoff analysis will help you read a chart for sure, but it is not the do all, and end all, of making super riches in the markets.
    There are many times when price could go either way, and no one know which way (at least until price begins to move).
    And then there are other times, when it all comes together at a certain point in time, and the future direction of the chart is highly obvious.

    In the end chart reading is all about probabilities, and when the probabilities are in your favour, you may choose to take advantage of them.

    cheers
 
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