"The Three Skills of Top Trading" Book - Aussie Stock Forums

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  1. #1

    Default "The Three Skills of Top Trading" Book

    Just wondering if someone has had the chance to grab a copy of this book and if so what are thoughts?

    The Three Skills of Top Trading: Behavioral Systems Building, Pattern Recognition, and Mental State Management by Hank Pruden ISBN: 0470050632


    Looks like it has some good material on the Wyckoff Method.....


  2. #2

  3. #3

    Default Re: "The Three Skills of Top Trading" Book

    Thanks for that Motorway.

    I went ahead and ordered the book from Amazon, arrived last week.

    Have only just started the first chapter. I'll post my thoughts/review in the coming weeks.

    But definitely keen to dig further into Wyckoff.


  4. #4

    Default Re: "The Three Skills of Top Trading" Book

    I will Look forward to your comments
    I have not read the book a part from
    "looking inside" on amazon

    Here is some Wyckoff to inform Our
    observation and transform it into actual opportunity...


    Whenever you study the tape or a chart, consider what you see there as an expression of the forces that lift and depress prices. Study your charts not with an eye to comparing the shapes of the
    formations, but from the viewpoint of the behavior of the stock; the
    motives of those who are dominant in it; and the successes and
    failures of the buyers and sellers as they struggle for mastery on
    every move.
    Every upward or downward swing in the market, whether it amounts to
    many points, only a few points, or fractions of a point, consists of
    numerous buying and selling waves. These have a certain duration;
    they run just so long as they can attract a following. When this
    following is exhausted for the time being, that wave comes to an end
    and a contrary wave sets in. The latter may attract more of a
    following than the former. By studying the relationships between
    these upward and downward waves, their duration, speed and extent,
    and comparing them with each other, we are able to judge the
    relative strength of the bulls and the bears as the price movement
    When you are looking for an opportunity to buy, watch for the DOWN
    waves in the market and in your stock............................................. .................................................. .................................................. ..................................The waves of the market furnish a clear insight into changes in supply and demand. By learning to judge all sizes of market waves,
    you will gradually learn to spot the time when a rising market or a rally, and the time when a declining market or a reaction, has halted and is about to reverse.

    Richard D. Wyckoff ( Stock market Science 1931 )
    Esp when looking at any of the current buying waves that move up.
    Do not be fooled by moves that display a "lack of demand ".. That can not gather a following... On the down waves esp look out for an emerging "lack of supply" it is a lack of supply that must come before any mark up can ensue.

    Many "opportunities" atm appear to Me to reveal supply still looking for "buying waves " to sell into...


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