Stock Market Technique, No.1

“Stock Market Technique No. 1” by Richard D. Wyckoff is the first volume of a legendary three-part series that defined the modern science of tape reading and technical market analysis. Originally compiled from Stock Market Technique magazine articles (March 1932 – July 1933), this volume captures Wyckoff’s mature thinking after decades of real-time market observation and research.

Within its pages, Wyckoff teaches traders to interpret the market through its own action — to read supply and demand, identify turning points, and trade with scientific precision rather than emotion or rumor. The book explains how to recognize manipulation, judge relative strength, manage risk through “three lines of defense,” and think in probabilities rather than hopes.

It also includes editorials, correspondence, and guest essays such as “Speculation as a Fine Art” by Dixon G. Watts and deep reflections on Dow Theory, chart interpretation, and the psychological pitfalls that destroy traders. Wyckoff’s writings combine practicality with timeless market wisdom — a manual of professional conduct for anyone who seeks to master the inner logic of price behavior.

A must-own for every serious student of market structure, Stock Market Technique No. 1 remains one of the purest distillations of analytical trading ever printed.

✅ What You’ll Learn:

• How the Law of Supply and Demand governs all market movement.
• Wyckoff’s techniques for judging the market by its own action.
• How to identify accumulation, distribution, and turning points.
• The difference between obsolete methods and the modern scientific approach.
• Use of figure charts and tape reading to forecast swing behavior.
• How to recognize and avoid Wall Street fallacies and manipulation traps.
• The disciplined habits that separate professionals from amateurs.

💡 Key Benefits:

• Reveals the foundations of Wyckoff’s technical trading system.
• Enhances timing, risk control, and psychological discipline.
• Provides authentic early-20th-century case studies still valid today.
• Bridges Dow Theory with practical trading execution.
• Essential reading for Gann, Elliott Wave, and Market Profile traders who study market geometry and behavior.

👤 Who This Book Is For:

• Intermediate to Advanced traders and market technicians.
• Students of Wyckoff methodology, tape reading, or chart analysis.
• Analysts seeking historical roots of modern technical analysis.
• Gann, Wyckoff, and Livermore followers aiming to refine timing and precision.
• Professional investors who value disciplined judgment over speculation.

📚 Table of Contents:

• How the Law of Supply and Demand Operates in the Stock Market
• Forecasting the Wide Swings of Auburn
• Trading Methods
• The Public at the Crossroads
• Knowing How
• Why They Bought It
• Charts and the Dow Theory
• Rigid vs. Flexible Methods
• Wall Street Fallacies

1. That You Can Put a Stock in Your Box and Forget It

• The Higher Development of the Dow T heory
• The Tape Forecasted the Turn
• How the Technician Judges the Stock Market
• Why Study Statistics?.
• Speculation as a Fine Art by Dixon G. Wat s
• Judging the Market by Tests and Responses
• Wall Street Fallacies

2. That Success Depends on Having Enough Capital

• Exploding the Dow Theory
• The Real Value in the Financial Page of Your Newspaper
• More Inside Information
• Philosophy of Jay Gould
• What Will Put this Market Up ?
• Analysis of 4 1/2 Years of Forecasting by 41 Advisory Services and Publications
• Run Your Own Pool
• Spotting the Turning Points
• Maxims of Daniel Drew
• Figure Charts
• Don’ t Overvalue the News
• Stock Market Prices Fluid
• Why Stop Orders Are Caught
• Never Put Up Cash on a Margin Call — Three Lines of Defense Against Loss
• More Profit in the Swings Than in the Long Pull
• Don’ t Lean on Your Broker
• Trading from the T a p e
• The Technician Debates with the Fundamentalist
• The Best Stock — For Every Purse, Purpose and Personality
• Banker a Bear on Charts
• Advantages of a Neutral Position
• The Old Timer Says
• Philosophy of Famous Operators
• Letters from Our Readers
• Why Fundamentals Fail

Stock Market Technique, Number one By Richard D. Wyckoff