The Wit and Wisdom of Richard Wyckoff

firewalker99 · Mar 22, 2007, 5:42pm

The tape tells the news minutes, hours and days before the news tickers, or newspapers, and before it can become gossip. Everything from a foreign war to the passing of a dividend; from a Supeme Court decision to the ravages of the boll-weevil* is reflected primarily on the tape.

* is a beetle that had infested all US cotton-growing areas by the 1920s, devastating the industry.

gassah · Sep 28, 2007, 10:52pm

Quote:

Originally Posted by Charlton

Peto

Besides the information that Db provided, if you are interested in further free stuff, there is a Wyckoff Yahoo group
http://finance.groups.yahoo.com/group/Wyckoff-SMI/

This is run by the Stock Market Institute. There is a files section with downloadable material. They also still run the original Wyckoff course - comprehensive but expensive

Charlton

Hi,

I moderate this Yahoo! group and SMI plays no part in it. They allow me to post much of their material but otherwise they aren't affiliated or responsible for what is posted.

We try to cover everything Wyckoff, not only the SMI point of view. The SMI course includes the original Wyckoff course (before SMI added their alterations) which is openly discussed along with any of his other works.

nic

firewalker99 · Apr 29, 2008, 6:38am

Unfortunately dbphoenix left this site but, having learnt a lot from him, I thought of doing a follow-up on this thread.

"Whenever I notice a trader studying a market letter I recall seeing a mother chewing her baby's crackers. Those whose stock market crackers are masticated for them will never develop their own teeth."

firewalker99 · Apr 29, 2008, 6:45am

(1) Self-reliance: a man must think for himself, must follow his own convictions. Self-trust is the foundation of successful effort.

(2) Judgment: that equipoise, that nice adjustment of the faculties one to the other is essential to the speculator.

(3) Courage: confidence to act on the decisions of the mind.

(4) Prudence: the power of measuring the danger, together with a certain alertness and watchfulness, is very important. There should be a balance between the two.

(5) Pliability: the ability to change an opinion, the power of revision.

-- Richard Wyckoff

innovation · Apr 29, 2008, 6:51am

Quote:

Originally Posted by firewalker99

Unfortunately dbphoenix left this site but, having learnt a lot from him, I thought of doing a follow-up on this thread.

"Whenever I notice a trader studying a market letter I recall seeing a mother chewing her baby's crackers. Those whose stock market crackers are masticated for them will never develop their own teeth."

I look forward to your posts

Matt

GammaJammer · Apr 29, 2008, 7:07am

Quote:

Originally Posted by dbphoenix

Figuratively speaking, the small trader should imagine himself as a hitch-hiker in the market. For the ordinary hitch-hiker, someone else supplies the car, chauffeur, oil and gas. When he thinks the car is about to go in his direction, he jumps aboard and rides as far as he thinks the car will go. When he notices the machine has been stopped by a red light, or is about to turn a corner and go in some other direction, or that the car is running out of gas, or the brakes failing to work properly, he steps off and figures he has secured about as long a ride as he may expect. All he has supplied in this transaction is a modest commission and whatever brains were necessary to observe and recognize the opportunity when to get on and off.

RW

See also The Wit and Wisdom of Justin Mamis

Or b... you start off thinking that you're headed in the right direction, before getting driven off to an abandoned warehouse and mugged (or worse).

firewalker99 · Apr 29, 2008, 8:34am

The best inside information is on the tape. I would rather follow its indications than act on a tip from J.P. Morgan himself.

firewalker99 · Apr 29, 2008, 8:41am

You need never read anything on the financial page of your newspaper except the table of stock prices and volumes.

Mar 22, 2007, 5:42pm	#25
firewalker99 Legendary Member Member Since Jul 2006 6,660 Posts	Re: The Wit and Wisdom of Richard Wyckoff The tape tells the news minutes, hours and days before the news tickers, or newspapers, and before it can become gossip. Everything from a foreign war to the passing of a dividend; from a Supeme Court decision to the ravages of the boll-weevil* is reflected primarily on the tape. * is a beetle that had infested all US cotton-growing areas by the 1920s, devastating the industry.

Apr 29, 2008, 6:38am	#27
firewalker99 Legendary Member Member Since Jul 2006 6,660 Posts	Re: The Wit and Wisdom of Richard Wyckoff Unfortunately dbphoenix left this site but, having learnt a lot from him, I thought of doing a follow-up on this thread. "Whenever I notice a trader studying a market letter I recall seeing a mother chewing her baby's crackers. Those whose stock market crackers are masticated for them will never develop their own teeth."

Apr 29, 2008, 6:45am	#28
firewalker99 Legendary Member Member Since Jul 2006 6,660 Posts	The Five Qualities of a Speculator (1) Self-reliance: a man must think for himself, must follow his own convictions. Self-trust is the foundation of successful effort. (2) Judgment: that equipoise, that nice adjustment of the faculties one to the other is essential to the speculator. (3) Courage: confidence to act on the decisions of the mind. (4) Prudence: the power of measuring the danger, together with a certain alertness and watchfulness, is very important. There should be a balance between the two. (5) Pliability: the ability to change an opinion, the power of revision. -- Richard Wyckoff

Apr 29, 2008, 8:34am	#31
firewalker99 Legendary Member Member Since Jul 2006 6,660 Posts	The tape The best inside information is on the tape. I would rather follow its indications than act on a tip from J.P. Morgan himself. Last edited by firewalker99; Apr 29, 2008 at 8:41am.

Apr 29, 2008, 8:41am	#32
firewalker99 Legendary Member Member Since Jul 2006 6,660 Posts	On the papers You need never read anything on the financial page of your newspaper except the table of stock prices and volumes.

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