Richard Wyckoff Quotes

“Especially he who puts his knowledge into actual practice, is constantly evolving new ideas and making discoveries which modify or nullify his former methods. From each new elevation he enjoys a broader view; what were obstacles disappear; his problems gradually simplify.”

“Frequent requests are made for the name of someone who will teach the Art of Tape Reading. I do not know of anyone able to read the tape with profit who is willing to become an instructor. The reason is very simple. Profits from the tape far exceed anything that might be earned by charging tuition fees to his students. It's simple economics.”

“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.”

“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.”

“The tape is a tyrant.”

“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.”

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

“Why was one of these men able to amass a fortune, while the other never acquired more than a few thousand dollars at the same pursuit?”