Richard Wyckoff Quotes

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

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

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

“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.”

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

“Cheap advice is plentiful.”

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

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

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

“Hearsay is half lies.”

“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?”

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

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

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

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

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

“Look for your money where you lost it.”

“Losses are punishment for bad judgment.”

“Never buy an egg until it is laid.”

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

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

“The more statistics, the more confusion.”

“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.”

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

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

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

“Where certainty ends, speculation begins.”