Richard Wyckoff Quotes

Born November 02, 1873
Died March 07, 1934

Who is Richard Wyckoff?

Richard Demille Wyckoff was an American stock market investor, and the founder of the Magazine of Wall Street. He was also editor of Stock Market Technique.

Wyckoff worked together with and studied the successes of Jesse Livermore and J.P. Morgan.

He published the books 'How I Trade and Invest in Stocks and Bonds', 'Studies in Tape Reading', 'Jesse Livermore's Methods in Trading Stocks' as well as two compilations of his magazine Stock Market Technique.

Books by Richard Wyckoff

Best Quotes by Richard Wyckoff

“A miner must understand how dynamite works before he can safely use it.”

Richard Wyckoff
Stock Market Technique Number One

“A profit is not a profit until it is realized.”

Richard Wyckoff
Stock Market Technique Number One

“A sound idea is like a pebble thrown into a pool. The circles of its influence continually widen.”

Richard Wyckoff

“A stop-order a few points away is insurance against a large loss in case you are wrong.”

Richard Wyckoff
Stock Market Technique Number One

“A sure way to avoid big investment losses: Once a week close out every investment that shows a loss. Keep only those which are moving your favor.”

Richard Wyckoff
Stock Market Technique Number One

“Are you riding a dead horse? Get off and get on a live one.”

Richard Wyckoff
Stock Market Technique Number One

“Beethoven's sonatas are in any piano if you just happen to hit the right notes, and there is big money in Wall Street for anyone who learns how to play the market.”

Richard Wyckoff
Stock Market Technique Number One

“Cheap advice is plentiful.”

Richard Wyckoff
Stock Market Technique Number One

“Do not expect your ship to come in unless you have sent one out.”

Richard Wyckoff
Stock Market Technique Number One

“Do not operate for the sake of making trades, but only for the purpose of making money.”

Richard Wyckoff
Stock Market Technique Number One

“Don't think because you own a stock it can't go down much farther. Any stock can go anywhere.”

Richard Wyckoff
Stock Market Technique Number One

“Good coffee is a benefit, but great coffee is a reward, and the difference between good and great is just pennies a day.”

Richard Wyckoff

“Hearsay is half lies.”

Richard Wyckoff
Stock Market Technique Number One

“How much could you have saved in the past few years if you had known how to limit your risk and when to sell out?”

Richard Wyckoff
Stock Market Technique Number One

“How to have lots of money with which to buy bargains in slumps and depression: Sell out in booms.”

Richard Wyckoff
Stock Market Technique Number One

“I do not know of any other profession which may be entered under such conditions: where there is no competition; wherein a trader may depend solely upon himself; control his own funds, and ask no one for advice.”

Richard Wyckoff
Stock Market Technique Number Two

“I have yet to find a man, in or out of Wall Street, who is able to make money in markets continuously or uninterruptedly. Like anyone else, I have good and bad periods.”

Richard Wyckoff

“I not only aim to make money, but to keep it and make it grow.”

Richard Wyckoff
How I Trade and Invest in Stocks and Bonds

“If everybody had placed a stop order on stocks held and purchases made in 1929, there would have been no panic.”

Richard Wyckoff
Stock Market Technique Number One

“If insiders traded like outsiders, the insiders would soon be outsiders.”

Richard Wyckoff
Stock Market Technique Number One

“If you have knowledge, let others light their candles at it.”

Richard Wyckoff
Stock Market Technique Number Two

“In stock trading you must have plenty of nerve but no 'nerves'.”

Richard Wyckoff
Stock Market Technique Number One

“It is better to lose the saddle than the horse.”

Richard Wyckoff
Stock Market Technique Number One

“Look for your money where you lost it.”

Richard Wyckoff
Stock Market Technique Number One

“Losses are punishment for bad judgment.”

Richard Wyckoff
Stock Market Technique Number One

“Luck is a much overworked alibi.”

Richard Wyckoff
Stock Market Technique Number Two

“Mental poise is an indispensable factor in tape reading. The mind should be absolutely free to concentrate upon the work; there should be no feeling that certain things are to be accomplished within a given time; no fear, anxiety, or greed.”

Richard Wyckoff
Studies in Tape Reading

“Never buy an egg until it is laid.”

Richard Wyckoff
Stock Market Technique Number One

“Never get married to a security.”

Richard Wyckoff
How I Trade and Invest in Stocks and Bonds

“Successful tape reading is a study of force; it requires ability to judge which side has the greatest pulling power and one must have the courage to go with that side.”

Richard Wyckoff
Studies in Tape Reading

“Successful trading depends on a systematic control of losses and the securing of profits in excess of those losses.”

Richard Wyckoff
Stock Market Technique Number One

“Take advice only from those who have been successful.”

Richard Wyckoff
Stock Market Technique Number One

“The approach is not to limit the choice, but to provide a broader choice. It's appropriate to have choices that are indulgent and others that are better for you.”

Richard Wyckoff

“The average man or woman never makes a success of day trading by reading moment by moment transactions of the market. Man or woman seldom makes a success of anything! That is true of trading stocks, business endeavors or even hobbies! Success in day trading usually results from years of painstaking effort and absolute concentration upon the subject. It requires the devotion of one's whole time and attention to - the tape. He should have no other business or profession. A man cannot serve two masters, and the tape is a tyrant.”

Richard Wyckoff
My Secrets of Day Trading in Stocks

“The investor who always chooses securities of companies who constantly put money back into their properties, will scarcely ever go wrong.”

Richard Wyckoff
How I Trade and Invest in Stocks and Bonds

“The more statistics, the more confusion.”

Richard Wyckoff
Stock Market Technique Number One

“The most perfect example of following the trend would be a monkey clinging to the back of a boa constrictor as it wriggled through the jungle.”

Richard Wyckoff
Stock Market Technique Number One

“The only fundamental factor that really counts in the stock market is The Law of Supply and Demand.”

Richard Wyckoff
Stock Market Technique Number One

“The tape reader’s profits should develop naturally. He should buy or sell because it is the thing to do – not because he wants to make a profit or fears to make a loss.”

Richard Wyckoff
Studies in Tape Reading

“The trained man has all the advantages on his side; the untrained man invites all the tragic possibilities of failure.”

Richard Wyckoff
How I Trade and Invest in Stocks and Bonds

“The victory of success is half won when one gains the habit of work.”

Richard Wyckoff
Stock Market Technique Number Two

“There is no place in the modern world for the unskilled; no one can hope for any genuine success who fails to give himself the most complete special education.”

Richard Wyckoff
How I Trade and Invest in Stocks and Bonds

“To trade in stocks and gain an ultimate profit is very difficult; most people do not succeed because they never learn how to trade. They think they are investing when they really are speculating.”

Richard Wyckoff
Stock Market Technique Number Two

“Trading without scientifically limiting your risk is like wearing your pants without a belt or suspenders.”

Richard Wyckoff
Stock Market Technique Number One

“Try and recall all the big losses you ever had. Then remember that every one of them – without exception – could have been avoided if you had been wise enough to accept a small loss when the stock went against you.”

Richard Wyckoff
Stock Market Technique Number Two

“When a tape reader has his emotions well in hand, he will play as though the game were dominoes.”

Richard Wyckoff
Studies in Tape Reading

“When in doubt, stay out. If you are in, and grow doubtful, get out.”

Richard Wyckoff
Stock Market Technique Number One

“Where certainty ends, speculation begins.”

Richard Wyckoff
Stock Market Technique Number One

“You should either make a business of trading or else not try to be a trader. You cannot be successful at trading any more than you can be at mining, manufacturing, doctoring or anything else, unless you are trained for it.”

Richard Wyckoff
How I Trade and Invest in Stocks and Bonds