Stock Market Technique, No.1

Stock Market Technique No.1 by Richard D. Wyckoff is a seminal collection of articles, editorials, and correspondence originally published in his influential magazine Stock Market Technique between 1932 and 1933 . Written in the aftermath of the 1929 crash and during the depths of the Great Depression, this book captures the essence of Wyckoff’s practical trading philosophy and his efforts to educate a new generation of market operators.

The work distills Wyckoff’s lifetime of observation into timeless principles: trading is a business, not a gamble; the law of supply and demand governs all market action; and profits depend on foresight, judgment, and disciplined risk control. Through essays and letters from readers, Wyckoff illustrates how traders can learn from charts, tape reading, and the careful study of price and volume to forecast swings with surprising accuracy .

Key topics include the pitfalls of relying on tips, news, or advisory services, the value of the Dow Theory when expanded with Wyckoff’s methods, the role of figure (point & figure) charts, and the psychological traps that lead traders to repeated losses . Anecdotes from both successful and failed operators highlight the importance of emotional control, patience, and independent judgment.

More than a technical manual, the book reads as a candid dialogue between Wyckoff and his readers, offering encouragement, hard truths, and practical tools. His critiques of Wall Street “experts” and his insistence on self-reliance reflect a philosophy that remains highly relevant for modern traders.

Stock Market Technique No.1 stands as both a historical document of Depression-era Wall Street and a practical guide to market speculation. For students of Wyckoff methodology and serious traders seeking timeless wisdom, it is an indispensable resource.

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 PDF