A Course in Trading By Wetsel Market Bureau

A Course in Trading by Wetsel Market Bureau is a rare and valuable resource that distills the principles of speculation, technical analysis, and disciplined decision-making into a structured learning format. Originating from a period when market speculation was still developing as a formal craft, this course-like text captures the timeless lessons that remain highly relevant for traders navigating modern markets.

The book is designed as a practical guide rather than a theoretical treatise. It leads readers step by step through essential concepts such as trend recognition, price patterns, and market psychology, while also emphasizing the importance of risk control and money management. Unlike many trading books that focus narrowly on strategies, A Course in Trading provides a comprehensive foundation—covering both the analytical tools traders need and the mental discipline required to use them effectively.

One of its strengths lies in its structured approach, making it feel like a true educational program. The material is presented progressively, allowing readers to build their understanding from basic principles to more advanced techniques. Historical chart studies, real-world examples, and clear explanations of speculative behavior help bridge the gap between theory and practice. The emphasis on repeatable methods and careful observation reflects the Bureau’s practical experience in analyzing markets.

What sets this work apart is its enduring relevance. Though originally crafted decades ago, the core lessons of A Course in Trading—patience, discipline, and systematic analysis—remain the bedrock of successful trading today. The book encourages readers to approach markets as a skill-based pursuit rather than a gamble, showing how thoughtful preparation and consistent execution can lead to long-term profitability.

For traders seeking a classic yet practical foundation in speculation, A Course in Trading is more than just an instructional text—it is a complete learning framework. It provides the tools, mindset, and strategies that transform speculation into a disciplined profession, making it a valuable addition to the library of any serious market student.

Contents:

• Section A: Introduction, Confidential, Order of Presentation, Definitions, Technical Position.
• Section B: Objective, Definitions, Bull Market, Bear Market, Normal Reactions & Recoveries, The Fifty Percent Recovery & Reaction.
• Section C: Application of Rules: The Fifty Percent Recovery & Reaction, The Pivot.
• Section D: The Pivot, The Importance of Time, Time & Extent Measured by Arc, Application to Minor Movements, Tops & Bottoms.
• Section E: Tops & Bottoms, The Top Formation in 1929, If the Bull Market Had Continued, Bottom Formations.
• Section F: Tops & Bottoms, Tops & Bottoms on Individual Stocks, The Importance of Closings, Consider Dividends in Calculations, Variations from Head & Shoulder Formation, A Rounding Top, Variations in Bottom Formations.
• Section G: Gaps as Indicators, The Cause of Gaps, Value & Limitations as Indicators; Kinds of Gaps, The Exhaustion Gap.
• Section H: Gaps as Indicators, Break-Away Gaps, Review Regarding Exhaustion & Intermediate Gaps, Watch Immediately Preceding Price Movement, Special Discussion.
• Section I: Importance of Preceding Price Movement, Rule Fifty-One.
•  Section J: Similarity of Price Movements; Stretcher Formation.
• Section K: Stretcher Formations – Variations in the Movement, Long Swing Commitments; Normal Movement Subsequent to Stretcher, Short Sales; Volume.
• Section L: Comparison of Price Movements, The Effect of Trend; Simple Method of Eliminating Trend, Method of Preparing Chart No. 23, Comparing the Two Price Movements.
• Section M: Averages Used as Guides, Compilation of an Average, The Dow-Jones Averages, The Forecast of September 8, 1932.
• Section N: The Use & Compilation of Averages, The Use of a Constant Divisor, Average of Active vs. Inactive Issued, Compiling an Average of Inactive Issues.
• Section O: Old Tops & Bottoms, Application to Individual Stocks, Determining Exact Resistances.
• Section P: Trend Lines, Application to Individual Stocks, Trend Lines as Resistances.
• Section Q: Coil Formations, The Ascending Coil, Descending Coil, A Flat Coil.
• Section R: Time & Volume,
• Section S: Volume and Price,
• Section T: Angles of Strength & Weakness,
• Section U: Summarizing Major Formations, Section W: Minor Formations Continued,
• Section V: Obstinate Declines & Rallies,
• Section W: Danger Signals, Pegged Stocks, Successive Closes at Top, Irregular Straights, Playing Safe on Straight Measurements, Natural Resistance & Support Levels, Prices Doubled or Halved,
• Section X: Recording Each Transaction, Margin Trading, Seasonal Influences.

A Course in Trading By Wetsel Market Bureau pdf