The Wyckoff Method Stock Market Technical Trading Course
The first portion of the Wyckoff course is devoted to a study of the 25 printed basic lessons. In those lessons you will learn the important Wyckoff principles and market concepts to prepare you for the second phase of your Stock Market Institute course.
It is the Basic Lecture Series and will teach you recognize, understand, and interpret the elements of market campaigns (or cycles of market action), as promoted by stock market professionals.
These 12 basic two side audio lectures are an integral part of your Wyckoff course of programmed instruction. They are an excellent means to learn the “art of investing and/or speculating” through supplementing the written course with this audio-visual presentation of many market campaigns.
These lectures will assist you in learning the Wyckoff principles into a full understanding of how the Law of Supply and Demand functions in the stock market.
These audio lectures are called “Basic Lectures” because their purpose is to present basic market principles and information.
Lecture #1 covers the philosophy, history, and basic concepts of the Wyckoff course.
Basic Lecture #2 covers the very important topic of “Trends.” It is illustrated with 10 charts. These charts enhance the learning through the use of these vivid graphic representations, and ensure more rapid comprehension by the learner.
Basic Lecture #3 with its 15 charts covers the very important subject of “Accumulation”, and so on through twelve interesting lectures, as you will note in the Table of Contents.
These lectures represent the combined years of experience of Wyckoff SMI’s technical and instructional staff. The script is well written and tightly organized to insure highest quality recordings. The situations selected and covered orally, on the lectures, and visually, on the charts, present classic and meaningful examples of market action.
Listen to each lecture time and time again at first, to get the general idea of the subject and to recognize the important principles and points on the charts, with a second and more thorough study to follow. At this time make notes of the important happenings, lightly and in pencil, on your charts.
Add anything that will help you. Perhaps, on another go-round on a given lecture you might want to use various colored pencils to mark outstanding points.
Each lecture is followed by an exam. You may e-mail, fax or mail in for grading with model answers. By sending in the exams you will be able to make sure you are learning the basic concepts of the Wyckoff Method.
Then, from time to time, go back and review the concepts presented. This is experience building and will give you the knowledge and the confidence you need to become successful in the market.
The SMI Basic Lecture Program is a twelve lesson course in advanced applications of the Wyckoff method of stock market analysis.
These lessons are designed to convert the purely theoretical knowledge in place to a practical understanding of real life market application. A Wyckoff student who has not taken advantage of the Basic Lecture Program knows what to do but he may not feel comfortable about his knowledge of how to do it.
The twelve Basic Lectures are designed to help bolster the student’s ability in this critically important area.
Each lecture in the series covers a particular subject or a group of closely related topics that are used as a unit in actual market operation. There is some review in each discussion to reinforce prior learning, but the primary thrust of each lecture is the detailed study of examples.This helps expand the student’s ability to identify the principles at work in the market.
Each lesson concludes with an exam to test comprehension. As with all SMI programs, consultation service is provided during the course.
Wyckoff Basic Lectures
Basic Lecture 1
Philosophy, History and Basic Concepts
This tape is primarily a review. In order for a study of advanced applications to be successful, it is necessary to begin with a clear understanding of the basics. The review in this tape reinforces prior discussions of the Wyckoff way of looking at the
market and the basic laws that are the foundation of the Wyckoff method.
Basic Lecture 2
The Wyckoff method teaches that the most important thing to know about the market or a stock is its line of least resistance, which is the trend.
Trends are subject to mechanical definition. However, real life market situations are not. This is where the art of market analysis comes into play. Basic Lecture 2 helps the student learn this art. It also helps develop his ability to trade trends.
Basic Lecture 3
In the stock market, it is generally true that everything that goes up eventually comes down and that everything that goes down eventually comes back up.For this to be of any value, the investor must know how to determine when.
Accumulation is the preparation for an upward move. It is a process that unfolds gradually. Its development can be detected in time to take a long position. This lecture develops the student’s skills in detecting accumulation.
Basic Lecture 4
Climaxes and Secondary Tests
For most investors, it is much more difficult to exit a position than to enter one.
Greed is usually the motivating factor here. This is why it is essential to have a thorough understanding of climaxes and secondary tests. They mark the termination of up and down moves. The examples covered in this lecture will expand the students ability at identifying these important actions so that he may be able to handle his positions in a more profitable manner.
Basic Lecture 5
Springs and Terminal Shakeouts
An area of accumulation must be tested many times before a stock can have a meaningful advance. The most important of these come as the price tries to move into new low ground. The ability to judge supply and demand at these critical points helps avoid costly mistakes and adds to profits. Developing this judgment can only come through a detailed study of numerous case histories like the ones outlined in this lecture.
Basic Lecture 6
Jump Across The Creek
The professional trader completes his accumulation just as the price of a stock is leaving the trading range on the upside and entering the early stages of the up trend. Here is where the ability to judge supply and demand is most important of all for an individual anticipating a long position. This is because the bulk of his position is taken in this area. A mistake here guarantees a loss. The examples in Basic Lecture 6 assist the student in developing the ability to properly appraise the demand / supply relationship at these critical points.
Basic Lecture 7
Upthrust After Distribution
Basic Lecture 7 focuses on the final stages of distribution, which is the preparation for a decline. Many investors avoid the short side of the market. For some reason they believe it is different and are afraid of it. The final stages are somewhat different and require extra study. However, there is no reason to be afraid of the short side of the market. The case studies presented in this lecture will develop judgment in an area that over the years can be extremely profitable.
Basic Lecture 8
Counts and The Count Guide
Figure chart counts are one of the biggest problem areas for Wyckoff students. What is required is an understanding of phases, accumulation counts, distribution counts, major base counts, intermediate counts, re-accumulation counts, redistribution counts and combining counts. There is a great deal here that all must be thoroughly understood if accurate counts are going to result. Anticipating too much or too little can be costly. This lecture helps develop the ability to know what to do and what to avoid.
Basic Lecture 9
Speculating – Taking a Position
All of the study of a market or stock situation is aimed at one thing – taking a position. The decision to take a position and actually taking it are two processes. The first one can be done properly and the result still be a loss because the second process is poorly handled. There isn’t a great deal of judgment involved here, but there is a lot to remember. This discussion reinforces all these points.
Basic Lecture 10
Wyckoff Wave and Optimism-Pessimism Index
Step five of the Wyckoff method instructs the investor to time trades with anticipated turns in the general market. One of the best ways to anticipate a turn is when there is a lack of harmony between the effort expressed and the result achieved. This can be best detected through a study of the Wyckoff Wave and O.P. Index. How to judge when there is a lack of harmony and what to do about it are explored in depth in this lecture.
Basic Lecture 11
Step by Step Analysis of Accumulation
Basic Lecture 12
Step by Step Analysis of Distribution
These two lectures are devoted to putting it all together, which is what every investor must do every time he sits down to study the market. These lectures outline how to do it during the most important phases of market action. Successful analysis of accumulation and distribution will turn ordinary profits into extraordinary profits. These lectures help develop the proper analytical skills.
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