The Wit and Wisdom of Richard Wyckoff

This is a discussion on The Wit and Wisdom of Richard Wyckoff within the Technical Analysis forums, part of the Methods category; The tape tells the news minutes, hours and days before the news tickers, or newspapers, and before it can become ...

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Old Mar 22, 2007, 10:42pm   #25
 
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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.
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Old Sep 29, 2007, 3:52am   #26
 
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Quote:
Originally Posted by Charlton View Post
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
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Old Apr 29, 2008, 11:38am   #27
 
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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."
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Old Apr 29, 2008, 11:45am   #28
 
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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
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Old Apr 29, 2008, 11:51am   #29
 
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Originally Posted by firewalker99 View Post
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
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Old Apr 29, 2008, 1:34pm   #30
 
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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 1:41pm.
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Old Apr 29, 2008, 1:41pm   #31
 
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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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Old Apr 29, 2008, 4:01pm   #32
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Originally Posted by firewalker99 View Post
(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
Does Wyckoff speak to the differences between the mindset of a speculator and a trader? Like the differences between say Victor Neiderhoffer and a trader of your choice. Or, Wyckoff aside, are there no differences, IYO?

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