Richard Wyckoff
Encyclopedia
Richard Demille Wyckoff (November 2, 1873 – March 19, 1934) was a stock market
authority, founder and onetime editor
of the Magazine of Wall Street (founding it in 1907), and editor of Stock Market Technique.
' Industrialist, Alfred Sloan Estate, in Great Neck, New York
(Hamptons
).
As Wyckoff became wealthier, he also became altruistic about the public's Wall Street
experience. He turned his attention and passion to education, teaching, and in publishing exposés such as “Bucket shops and How to Avoid Them”, which were run in New York's The Saturday Evening Post
starting in 1922.
Continuing as a trader and educator in the stock, commodity and bond markets throughout the early 1900s, Wyckoff was curious about the logic behind market action. Through conversations, interviews and research of the successful traders of his time, Wyckoff augmented and documented the methodology he traded and taught. Wyckoff worked with and studied them all, himself, Jesse Livermore, E. H. Harriman
, James R. Keene
, Otto Kahn, J.P. Morgan, and many other large operators of the day.
Wyckoff's research claimed many common characteristics among the greatest winning stocks and market campaigners of the time. He analyzed these market operators and their operations, and determined where risk and reward were optimal for trading. He emphasized the placement of stop-losses at all times, the importance of controlling the risk of any particular trade, and he demonstrated techniques used to campaign within the large trend (bullish and bearish). The Wyckoff technique may provide some insight as to how and why professional interests buy and sell securities, while evolving and scaling their market campaigns with concepts such as the "Composite Operator".
The teachings of Wyckoff are still taught at the Golden Gate University in San Francisco.{http://www.ggu.edu/about/faculty/faculty_directory/henry_pruden }
Wyckoff was thorough in his analysis of the trading range. One tool that Wyckoff provides is the concept of the Composite Operator. Simply, Wyckoff felt that an experienced judge of the market should regard the whole story that appears on the tape as though it were the expression of a single mind. He felt that it was an important psychological and tactical advantage to stay in harmony with this omnipotent player. By striving to follow his footsteps, Wyckoff felt we are better prepared to grow our portfolios and net-worth.
of Wall Street, had wrested control of the Magazine of Wall Street from Mr. Wyckoff by "cajolery." The media celebrated separation ended in an agreement where he received half a million dollars of the magazine company's bonds.
Stock market
A stock market or equity market is a public entity for the trading of company stock and derivatives at an agreed price; these are securities listed on a stock exchange as well as those only traded privately.The size of the world stock market was estimated at about $36.6 trillion...
authority, founder and onetime editor
Editing
Editing is the process of selecting and preparing written, visual, audible, and film media used to convey information through the processes of correction, condensation, organization, and other modifications performed with an intention of producing a correct, consistent, accurate, and complete...
of the Magazine of Wall Street (founding it in 1907), and editor of Stock Market Technique.
Research and teachings
Wyckoff implemented his methods in the financial markets, and grew his account such that he eventually owned nine and a half acres and a mansion next door to the General MotorsGeneral Motors
General Motors Company , commonly known as GM, formerly incorporated as General Motors Corporation, is an American multinational automotive corporation headquartered in Detroit, Michigan and the world's second-largest automaker in 2010...
' Industrialist, Alfred Sloan Estate, in Great Neck, New York
Great Neck, New York
The term Great Neck is commonly applied to a peninsula on the North Shore of Long Island, which includes the village of Great Neck, the village of Great Neck Estates, the village of Great Neck Plaza, and others, as well as an area south of the peninsula near Lake Success and the border of Queens...
(Hamptons
Hamptons
The Hamptons may refer to several villages and hamlets in the towns of Southampton and East Hampton on the far east end of Suffolk County in Long Island, New York. These townships occupy the South Fork of Long Island, stretching into the Atlantic Ocean. The Hamptons form a popular seaside resort,...
).
As Wyckoff became wealthier, he also became altruistic about the public's Wall Street
Wall Street
Wall Street refers to the financial district of New York City, named after and centered on the eight-block-long street running from Broadway to South Street on the East River in Lower Manhattan. Over time, the term has become a metonym for the financial markets of the United States as a whole, or...
experience. He turned his attention and passion to education, teaching, and in publishing exposés such as “Bucket shops and How to Avoid Them”, which were run in New York's The Saturday Evening Post
The Saturday Evening Post
The Saturday Evening Post is a bimonthly American magazine. It was published weekly under this title from 1897 until 1969, and quarterly and then bimonthly from 1971.-History:...
starting in 1922.
Continuing as a trader and educator in the stock, commodity and bond markets throughout the early 1900s, Wyckoff was curious about the logic behind market action. Through conversations, interviews and research of the successful traders of his time, Wyckoff augmented and documented the methodology he traded and taught. Wyckoff worked with and studied them all, himself, Jesse Livermore, E. H. Harriman
E. H. Harriman
Edward Henry Harriman was an American railroad executive.-Early years:Harriman was born in Hempstead, New York, the son of Orlando Harriman, an Episcopal clergyman, and Cornelia Neilson...
, James R. Keene
James R. Keene
James Robert Keene was a Wall Street stock broker and a major thoroughbred race horse owner and breeder.-Biography:He was born in London, England in 1838. He was fourteen years of age when his family emigrated to the United States in 1852...
, Otto Kahn, J.P. Morgan, and many other large operators of the day.
Wyckoff's research claimed many common characteristics among the greatest winning stocks and market campaigners of the time. He analyzed these market operators and their operations, and determined where risk and reward were optimal for trading. He emphasized the placement of stop-losses at all times, the importance of controlling the risk of any particular trade, and he demonstrated techniques used to campaign within the large trend (bullish and bearish). The Wyckoff technique may provide some insight as to how and why professional interests buy and sell securities, while evolving and scaling their market campaigns with concepts such as the "Composite Operator".
The teachings of Wyckoff are still taught at the Golden Gate University in San Francisco.{http://www.ggu.edu/about/faculty/faculty_directory/henry_pruden }
Wyckoff was thorough in his analysis of the trading range. One tool that Wyckoff provides is the concept of the Composite Operator. Simply, Wyckoff felt that an experienced judge of the market should regard the whole story that appears on the tape as though it were the expression of a single mind. He felt that it was an important psychological and tactical advantage to stay in harmony with this omnipotent player. By striving to follow his footsteps, Wyckoff felt we are better prepared to grow our portfolios and net-worth.
Personal
Wyckoff married three times: first in 1892 to Elsie Suydam; second to Cecelia G. Shear, and third to Alma Weiss. Wyckoff charged in 1928 that his second wife, Cecelia G. Wyckoff, whom the media dubbed a Prima DonnaPrima donna
Originally used in opera or Commedia dell'arte companies, "prima donna" is Italian for "first lady." The term was used to designate the leading female singer in the opera company, the person to whom the prime roles would be given. The prima donna was normally, but not necessarily, a soprano...
of Wall Street, had wrested control of the Magazine of Wall Street from Mr. Wyckoff by "cajolery." The media celebrated separation ended in an agreement where he received half a million dollars of the magazine company's bonds.