Truth of the Stock Tape was written in 1923 to help those who were trying to help themselves in speculation and investment trading. Wall Street Stock Selector brings Truth of The Stock Tape up to date. It explains the 1928-1929-bull market and tells of the coming investor’s panic. This book leads into the book listed above, the New Stock Trend Detector, being written six years previous. If you are a stock or commodity trader, you need a Wall Street education and this book will give you more real, timeless, market knowledge than most sources available today.
Introduction:
Tape reading is a study of fluctuations of stocks as they appear on the stock tape and the ability to judge the ones that are in a strong or weak position and determine the psychological moment to buy or sell. We must also be able to determine the stocks that are inactive and show no definite trend. Tape reading is psychological because the mind acts and is influenced by everything it sees, hears, smells, tastes or feels. In reading the tape, we are not influenced alone by what we see, but by what we feel or sense, which cannot always be explained or a satisfactory reason given because it is “intuition.”
What is intuition? You often hear traders say “I am buying or selling this stock on my intuition. The best definition I can give of intuition is that it is instantaneous reasoning. It is that something which tells us when we are right or wrong before we have time to reason it out. The way to benefit through intuition is to act immediately, and not stop to reason or ask why. That is what a good tape reader does. The tape registers the dominating force currents from business all over the country. It contains the condensed opinion of the majority and weighs the hopes and fears of manipulators, the public, and business men. That is why it is a reliable guide and business barometer, if you know how to read it correctly. And here is where the “rub” comes. The tape tells the truth, if you can interpret it correctly.
Tape reading requires a strong will power and a mind that, when it once sees the trend of the market, cannot be changed until the tape shows the change and is not influenced by news, false rumors, tips, or hearsay. Being able to read the tape correctly and act on your judgment is an entirely different proposition, which I will explain later on.
Contents:
– BOOK I: PREPARATION FOR TRADING
- I. WHAT IS TAPE READING?
- II. CAN MONEY BE MADE IN WALL STREET? OR CAN THE STOCK MARKET BE BEATEN?
- III. HOW TO READ THE STOCK TAPE
- IV. HOW THE TAPE FOOLS YOU
- V. HOW STOCKS ARE SOLD
- VI. YOUR WEAK POINTS
- VII. ESSENTIAL QUALIFICATIONS
– BOOK II: HOW TO TRADE
- VIII. RULES FOR SUCCESSFUL TRADING
- IX. METHODS OF OPERATING
- X. CHARTS AND THEIR USE
- XI. THE SEVEN ZONES OF ACTIVITY
- XII. HABITS OF STOCKS
- XIII. DIFFERENT CLASSES OF STOCKS
- XIV. HOW TO READ THE TAPE CORRECTLY
- XV. WHEN THE TAPE FINISHES AND GIVES FINAL SIGNALS
– BOOK III; HOW TO DETERMINE THE POSITION OF STOCKS
- XVI. POSITION OF GROUPS OF STOCKS
- XVII. GENERAL TREND OF THE MARKET
- XVIII. HOW TO TELL THE STOCKS IN STRONGEST POSITION
- XIX. HOW TO TELL WHEN STOCKS ARE IN WEAK POSITION
- XX. JUDGING FINAL TOPS AND BOTTOMS
- XXI. NUMBER OF TIMES A STOCK FLUCTUATES OVER THE SAME RANGE
- XXII. CROSSING OLD LEVELS
- XXIII. TOPS AND BOTTOMS ON RAILROAD STOCKS
- XXIV. BOTTOMS AND TOPS ON INDUSTRIAL STOCKS
- XXV. ACCUMULATION OF LOW-PRICED STOCKS
- XXVI. HOW TO WATCH INVESTMENTS
– BOOK IV: COMMODITIES
- XXVII. HOW TO TRADE IN COTTON
- XXVIII. PROPER WAY TO READ THE COTTON TAPE
- XXIX. HOW TO DETERMINE A CHANGE IN TREND
- XXX. THE BOLL WEEVIL
- XXXI. WHEAT AND CORN TRADING
- XXXII. JUDGING ACCUMULATION AND DISTRIBUTION ZONES
- SELECTING A BROKER
Truth of the Stock Tape By William Delbert Gann (W. D. Gann) PDF
Florence Rich (verified owner) –
It’s a must have for every beginner trader out there. Gives a whole lots of perspective from other side of table. Pardon for my english.
Blaine James (verified owner) –
Its all about psychology of trader. Chart are so small tnat one can’t see it. Dicussed about accumulation and distribution, nothing else.
Kashton Taylor (verified owner) –
This is full of wisdom, but I had difficulty reading the charts because they are so small, also the construction of numbers on the charts is such that they do not magnify clearly. I will read the book again. Good value.
Romeo Pham (verified owner) –
It’s a Must have book for Traders.
Elliott Cordova (verified owner) –
Helpful for beginners
Miller Duarte (verified owner) –
Good quality.
Callie McKinney (verified owner) –
Very nice book.. it helps me a lot
Kairo Gallegos (verified owner) –
Nicely written 👌
Ari Quintero (verified owner) –
Psychology explain very simple strongly. As relevant as 100 year back.
Kynlee Gould (verified owner) –
Every trader must read this book happy trading!
Thatcher Murillo (verified owner) –
This is a very light book from William Gann. Other books that I have read by him are much deeper, and provide much better information. When I purchased this book, I also purchased How to Make Profits in Trading Commodities. That book is a much better buy, than Truth of the Stock Tape.
Idris Snyder (verified owner) –
like the book.
Sofia Noble (verified owner) –
William D Gann was undeniably the best stock trader in history. In this book, he shares his knowledge.
Novah Simpson (verified owner) –
If you want to seriously deal with Gann analysis, you can’t miss this book. It’s Gann’s first book. It describes the price movements not only phenomenologically, so according to the motto, if the course does something specific, e.g. break a resistance line, it is likely to rise (fall). Gann goes beyond that and places the price movements in connection with manipulations by insiders who want to release their papers at excessive prices. Sometimes courses are pressed artificially to provide insiders with affordable entry opportunities. The papers move back and forth between 2 groups of market participants, the informed insiders and the uninformed public. Now insider trading is prohibited today, but the notion that large price movements have their reason to change ownership between different types of investors is still very helpful. For the first time, it offers a model that goes beyond the mere description. What else is in the book is also very interesting. Especially since it comes from someone who has been very successful himself. The reading, however, is quite exhausting due to the Gann’s method of recallecting a course course. This is a real textbook, but from an area in which the inventor of a theory explains it in book form. This is rather unusual in other “sciences”. No physics student reads, for example, the original works of Einstein or Heisenberg. As a speculator, you are in a far less favourable situation. Most of the secondary literature comes from people who have no idea and earn money with it. So you get around with the didactically often moderate original literature. So bite through, it’s worth it.
Mikaela Doyle (verified owner) –
This book can give u profit every day….with no stop loss hit…..and all that.
U have to read this book at least 10 times….he has a method of trading based on astrological aspects…..pls buy it…u will not buy anything else…go for it
Quinn Garrett (verified owner) –
William Delbert Gann. A legend name for a mythical trader whose techniques and philosophy remain poorly known.
By buying this book, I expected to get into the heart of the techniques of one of the greatest traders in history, if not the largest.
Unfortunately, Gann’s techniques were mainly taught by private lessons, which were (to my knowledge) gathered in the Collected Writtings of Gann, a series of writings gathered by the Institute of Cosmological Economics. Some of his advanced techniques may have been stated in some of his public books published after it, but not in that one.
This book is the account of 20 years of market experience. Here you will not find the Gann that we know: enigmatic, elusive, whose creativity is matched only its brilliance. Here you will find the figure of the experienced trader, having bottle, having made all the mistakes to make and enumerating them to the reader. This book shows us with so much other evidence that Gann was indeed a real professional trader and not a Sunday trader or a dream sellers as some claim.
This book tells all the fundamentals of trading, from technical analysis to emotional, I say the fundamentals, not the basics.
It is in a way the book of the perfect beginner in which he will find all the notions he will have to use to start his adventure well.
I compare it a bit in this sense to “How to trade in stock” written by Jesse Livermore, for me the book by which any speculator should start.
Where Jesse Livermore is much more philosophy oriented, Gann is much more focused on market experience. There may be some pretty concrete tips in this book like how to act during a powerful bullish movement, what are the signs of dangers, but no techniques are dealt with in detail. It is really, in my opinion, an initiatory book, useful when you start, but not really when you read about 20 and have a year and a half of experience and research in trading.
When in the book itself the interior presentation is sober and elegant, but we can regret that the graphics (already very summary) only detail the price ranges, they are not bar graphics (let alone candlesticks, we suspect).
Buy if you are a beginner or want to deepen the character, if you are looking for advanced techniques, turn instead to his private lessons.