Bias
Above the 50-period average the bias is long. Below it, short.
I day trade US equities with a Wyckoff-based process across six timeframes. Price and volume lead the read, moving averages mark where price pauses, and I publish the whole process, losing weeks included.
Market Read
I trade one setup: the pause after an impulse. Price stops on the 5, 10 or 20-period moving average, builds a re-accumulation, and continues when a larger candle breaks out on volume. Hover the chart to read each phase.
Method
Every trade is read top down. Price and volume lead, and moving averages are used only as reference levels where price pauses. The higher timeframe sets the context, and a lower one only gets a say when it agrees.
Above the 50-period average the bias is long. Below it, short.
Price in a trend, with a clean and strong mark-up.
A clean pause on the 5 and 10, or on the 20-period average.
A large candle breaking with momentum, often at the open, shows the strength to carry the move.
A second pause on the averages after a strong impulse, to anticipate the daily move with better risk-reward.
The entry is taken on the tight accumulation that follows the 6-minute re-accumulation.
↓ Context flows down. Permission never flows up.
Strategy
One discretionary strategy, applied to liquid US equities and to indices, metals and commodities. Both are currently in funded evaluations, run on the same read and the same risk policy.
Discretionary day trading on price and volume, read top down across six timeframes. Continuation after a re-accumulation, in trending markets only.
Past performance is not indicative of future results.
The same read applied to stock indices, metals and commodities, traded inside a funded evaluation program.
Results are published with the program's own confirmation.
Live Trades
Every trade is posted on X at the moment it is taken. These are the most recent, with the result in R once closed.
Risk Framework
These limits apply to every account I trade. They are written as policy, not as guidelines, and a trade that breaks one is logged as a mistake whatever it returns.
| Parameter | Limit | How it is applied |
|---|---|---|
| Risk per trade | 0.25% of equity | Sized on the current balance, updated after every trade, so risk compounds with the account. |
| Stop management | Breakeven at 1R | Once a trade reaches one times its risk, the stop moves to the entry price. |
| Concurrent positions | Two, typically | Margin rarely allows more than two open trades at the same time. |
| Liquidity filter | 1M shares per session | Only names trading at least one million shares in the session, with a clean one-minute chart and no gaps between bars. |
| Setup | One structure | Continuation after a re-accumulation. No entry while price is still inside the range. |
| Market context | Trending markets only | No trades when the higher timeframes are not trending. A trade taken out of context is logged as a mistake. |
| Capacity | Timeframe scales with size | When liquidity becomes a constraint, entries move from the one-minute to the 65-minute and then the daily chart, on names trading 60 to 70 million shares a day. |
Limits as of October 2026. Changes are published in The Ticker the month they take effect.
The Difference
The questions an allocator asks, answered for a typical retail trader, for my process and for a professional trading desk.
Operating Principles
Price and volume make the decision. The moving averages only show where price pauses.
The higher timeframe sets the context. A lower one only confirms it.
A profitable trade that broke the rules still counts as a mistake.
Losing weeks are published like winning ones. A record is only useful if it has both.
Publications
Six recurring formats on YouTube. Each one documents a different part of the process, and each is named after a piece of Wyckoff's work.
Swipe to see all six →
Founder
Independent day trader based in Venaria Reale, near Turin. Studying the markets since 2017, full time since 2021, and trading the current Wyckoff-based strategy since 2022, with a public record since October 2026. No fundamental analysis and no finance degree. The objective is The Island Partner, a trading desk run on the same process. The record is meant to make that case.
Roadmap
The objective is a trading desk run on one repeatable read of supply and demand, built without a finance degree or fundamental analysis. This site is the paper trail.
Years of testing everything, then a full commitment to Wyckoff.
Two challenges in parallel, one on US equities and one on indices, metals and commodities.
The United States Investing Championship, as public proof of the approach.
A trading desk run on the same process you watch every day.
The Ticker
On the first weekend of every month: monthly R, the equity curve, max drawdown, the rule breaks and what I'm changing. Named after the magazine Richard Wyckoff founded in 1907.
First episode: the first weekend of the month.
Subscribe On YouTube →Subscribe to the channel to get it the day it's out.
FAQ
No. I don't manage outside capital and nothing on this site is an offer to buy or sell a security or to manage money. The Island Partner is a planned project, not an authorised fund or investment firm.
Every trade is posted on X when it is taken. Monthly account statements from the evaluation provider are available on request, broker statements follow once real capital is traded, evaluation results are published with the program's confirmation, and independent verification is planned once the record is long enough to be meaningful.
Not yet. Since October 2026 the record runs on prop-firm evaluation accounts: real-time market conditions with simulated capital. The funded record starts when each evaluation is passed and is reported separately, labeled by stage.
Three losing trades end the session, which caps a day at 0.75% of equity. At 10% below the equity high, every trade since that high is checked against the process and the review is published in The Ticker.
Price and volume, plus the 5, 10, 20 and 50-period moving averages. The averages are not signals: they are reference levels that show where price pauses, and the 50 on the six-week chart sets the long or short bias. Oscillators and fundamental data are not used. The read is top down across six timeframes, so the context is set before any entry is considered.
Liquid US equities, plus indices, metals and commodities, intraday, both currently in funded evaluations. As size grows, entries move from the one-minute to the 65-minute and then the daily chart, on names trading 60 to 70 million shares a day.
Live trades are on X, research and the monthly review are on YouTube, and allocators and prop desks can reach me on LinkedIn.
Contact
I read every message. Choose the channel that fits the reason you are writing.
If you run capital or a funded program and want to follow the record, start a conversation on LinkedIn.
Alessio Puccio on LinkedIn → Follow the live trades on X →Podcasts, interviews, joint research or speaking about the Wyckoff method and building a desk without a degree.
Message on Instagram →Ask under the video it relates to. The answer helps the next person with the same question too.
Comment on YouTube →Press Kit
Alessio Puccio is an independent day trader based near Turin, Italy, and the founder of The Wyckoff Trader. He has studied the markets since 2017, full time since 2021, and trades a Wyckoff-based, multi-timeframe process on US equities, indices, metals and commodities. His public track record began in October 2026 on prop-firm evaluation accounts, and every trade is published as it happens. His objective is to build a trading desk without a finance degree.
My trading journal and track-record terminal. Every trade goes in with its plan, risk and result, and comes out as a score an allocator could read in thirty seconds. Explore the demo accounts below.
5 pillars, 17 metrics. Click a pillar to see what it measures.
| Date | Symbol | Side | Setup | TF | Process | Mistake | R |
|---|
Each demo trade has a recorded maximum favourable move. Trades that reached the target close at it; the rest keep their real result.
Example evaluation rules on a $25,000 account at 0.5% risk per trade ($125 per R). The real tool stores each firm's own limits per account.
| From | Trough | Depth | Trades | Status |
|---|
| Date | Symbol | Setup | Mistake | R |
|---|
Demo trade, simulated to show how The Terminal View records each trade.
Inside The Terminal
Everything I need to review, size and report a trade sits in one place, for every account I trade.
Performance by setup, entry timeframe, hour of entry, day of week, market regime and conviction level.
Risk by symbol, open trades and prop-firm limits, so a challenge rule never gets broken by accident.
Weekly review, benchmark comparison, the five deepest drawdowns and the worst trades by R.
Test fixed take-profits and partial exits against the real trade history before changing the rules.
A daily journal with mistake tags, and a running total of what each mistake has cost in R.
A size calculator that checks the risk and whether the stock can absorb the position.
Red flags and integrity checks that make the track record harder to fool, including by me.
Equity and multi-asset evaluations side by side, each with its own balance, limits and score.
Every new trade becomes a ready-to-post summary, so the public record stays in sync.
Follow The Record
Effort vs. Result, every Saturday, is built straight from The Terminal View: daily R, trades taken and rule breaks.
Studies, letters and case files behind the way I trade. The work I'd want to see from anyone before trusting them with capital.
Direction, distance and validity. The three questions I ask every chart before I risk a dollar, and why every series on the channel is named after them.
Read the study →A 60% system at 1:1 against a 20% system at 1:7, and what live execution does to each. Move the slider and watch the edge disappear.
Open the model →Monthly R, the equity curve, max drawdown and what I changed. Published on YouTube on the first weekend of the month.
See The Ticker →One chart studied from start to finish, phase by phase, with the trade I took or the one I passed on.
Follow on YouTube →Price does not move at random. It moves because of an imbalance, and Wyckoff reduced that imbalance to three laws. They tell me which way, how far, and whether to believe what I see.
Richard D. Wyckoff was born in New York in 1873 and started on Wall Street at fifteen, as a runner who read the tape every day. He watched the large operators of his time, the same era as Morgan and Livermore, and wrote down how they moved prices. In 1907 he founded a market magazine called The Ticker, which later became The Magazine of Wall Street. That's where the name of my monthly letter comes from.
He was not a theorist. He described what he saw, and a century later the method still works because markets are still people buying and selling.
Price rises when demand exceeds supply, and falls when supply exceeds demand.
Every chart is in one of three states. Demand in control: buyers absorb everything offered and price is pushed higher, the markup. Supply in control: sellers overwhelm the bids and price is pushed lower, the markdown. And balance, where neither side wins and price moves sideways in a trading range. Most of the time it's the third one.
I can't see the orders. Nobody can. What I can see is the evidence they leave: the spread of each bar and where it closed, the volume it took to print it, and how that compares with the swings before it. Is the buying getting stronger or weaker than last time? That comparison is most of the job.
Before a market can trend, it has to build a cause. The range is the cause, the trend is the effect.
Inside the range, large operators are either building a position or unloading one. If strong hands are absorbing supply, it's accumulation, and the effect is an advance. If they're selling into demand, it's distribution, and the effect is a decline. The longer and more significant the range, the larger the move that can follow. A short range rarely produces a big trend.
Wyckoff estimated the size of the effect from the width of the range with a point and figure count. I treat it the way he meant it: as an estimate of potential, not a target. Price still has to prove it.
Volume is the effort. Price movement is the result. They should agree.
The box that matters most is the second one. When volume reaches the highest levels of the move but price barely progresses, the buying is being met by supply. That's where trends stall and turn. It's a warning, not a signal on its own, so I wait for confirmation before acting on it. It's also the name of my weekly review, because the same test applies to my own work: how much effort went in, and what result came out.
The laws aren't three separate tools. They're one sequence, and I run it down the cascade: the 6W sets the bias, the W the context, the D the tradable pause, the 65m the momentum, the 6m the pattern within the pattern, and the 1m the entry. Price and volume make the decision. The moving averages only mark where price pauses.
I made all four. The fix was the same every time: slow down and make the chart show me the evidence before I give it a name.
Direction, distance, validity. Three questions, asked in that order, every time. That's the whole method.
Two systems with a positive edge on paper. One wins 60% of the time at 1:1, the other wins 20% of the time at 1:7. On a spreadsheet both make money. In live trading, only one survives.
Most traders pick the first system without thinking. Winning six trades out of ten feels good, and losing eight out of ten feels like failure. But the expectancy, what each trade is worth on average in R, tells a different story.
Live trading takes a little off every trade: slippage on the entry, a stop that fills worse than planned, a target you leave a bit early, commissions. Call it execution decay, measured in R. It costs both systems the same amount per trade, but it doesn't hurt them the same way.
With no decay, A makes +0.20R a trade and B makes +0.60R. Push the slider to 0.20R, a realistic number for a 1:1 system traded on short timeframes, and A's edge is gone. B still makes +0.40R a trade. A has no room for error, because its wins and losses are the same size: every bit of friction comes straight out of a small edge. B's wins are so large that the same friction barely moves the result.
System B isn't comfortable. Look at the runs: long flat stretches, strings of eight, ten, twelve losses in a row, and drawdowns that would make most people abandon it right before the next 7R winner. The edge is real, but you only collect it if you keep taking the trades.
That's why I measure process, not just P&L. On a low win-rate approach, the losing streaks are part of the plan, and the only question that matters on a red day is whether I followed the rules.
A high win rate feels like an edge. Expectancy after costs is the edge. If it doesn't survive execution, it was never there.
This is an illustrative model, not a backtest of a real strategy. Decay is modelled as a fixed amount taken from every win and added to every loss.
Real-time results, reported monthly in the format funds use. The record starts on prop-firm evaluation accounts, which use simulated capital, and every month is labeled by stage. Terminal View demo data never appears on this page.
Track Record
The record started in October 2026 on prop-firm evaluation accounts for US equities and for indices, metals and commodities. They run in real time on simulated capital. The funded record begins when each evaluation is passed and is reported separately. Monthly returns are published here as each month closes, net of commissions and fees.
Key Statistics
The record began in October 2026 on evaluation accounts. Figures appear here once that month closes.
Monthly Returns
Empty cells are months before the record begins or not yet closed.
Reports
The complete report for every month, quarter and year, plus each week. Nothing is removed. A corrected report is published as a new version, with a note on what changed.
Reports marked E come from prop-firm evaluation accounts on simulated capital. Reports marked F come from funded accounts.
Verification
Every figure on this page can be traced to a source outside this website.
Every trade is posted on X at the moment it is taken, with a timestamp that cannot be edited after the fact.
@Wyckoff_Trader_ on X →Monthly statements from the evaluation provider behind every reported return, available to allocators and prop desks on request. Broker statements follow once real capital is traded.
Request on LinkedIn →Results of the equity and multi-asset evaluation programs, published with the program's own confirmation once each one is completed.
Third-party verification of the full record once it covers enough months to be meaningful.
Methodology
Profile
Alessio Puccio is an independent day trader based in Venaria Reale, near Turin. He has studied the markets since 2017 and has worked on them full time since 2021. In 2022 he defined his current strategy, built on the Wyckoff method and read across six timeframes, from the six-week chart down to the one-minute. Price and volume lead the read, the 5, 10, 20 and 50-period moving averages mark where price pauses, and no fundamental analysis is used.
He trades liquid US equities, plus indices, metals and commodities, and is completing funded evaluations on both. Every trade is posted on X when it happens, and every trade is logged and scored in The Terminal View, the journal and track-record system he built.
His objective is The Island Partner, a trading desk run on the same process. He has no finance degree and does not treat one as a requirement. The record is meant to make that case.
Timeline
Ichimoku, supply and demand, support and resistance, pitchforks, Elliott waves and harmonic patterns.
Study and practice become the only focus.
Built on the Wyckoff method: one setup, the pause after an impulse, read across six timeframes.
Prop-firm evaluations on US equities and on indices, metals and commodities, every trade published and logged in The Terminal View.
The United States Investing Championship, as public proof of the approach.
A trading desk run on one repeatable read of supply and demand.
What this site collects, why, and what you can ask me to do with it.
This site is run by Alessio Puccio, The Wyckoff Trader, based in Italy. I am the data controller for the personal data described below. You can reach me through the channels on the contact section.
Messages you send me. If you contact me on LinkedIn, X, Instagram, YouTube or by email, I use what you send only to reply. Those platforms process your data under their own privacy policies.
Nothing else. The site has no sign-up forms, no account system and no advertising. The Terminal View demo uses simulated data and stores nothing about you.
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Messages are kept as long as the conversation is relevant.
Under the GDPR you can ask to access, correct or delete your data, restrict or object to its use, and receive it in a portable format. You can also complain to the Italian data protection authority, the Garante per la protezione dei dati personali (garanteprivacy.it).
Everything on this site is educational. Nothing here is a recommendation to buy or sell any security. Trading involves substantial risk of loss, and past or simulated results do not guarantee future results.