How I Trade and Invest in Stocks and Bonds (Fraser Publishing Library) (Contrary Opinion Library) [Paperback]

Richard D. Wyckoff (Author)

Book Description

Publication Date: June 1, 1983 | Series: Contrary Opinion Library

This book, first published in 1924, covers some methods evolved and adopted during the author's 33 year career on Wall Street. Wyckoff sets down specific rules to be followed in trading and investing operations with the idea that an out-of-towner can succeed in Wall Street as an investor as long as one depends on self-judgment rather than on that of any other person.

Editorial Reviews

From the Publisher

--This text refers to the Hardcover edition.

From the Back Cover

Richard Wyckoff was a Wall Street legend. Not only did he make a fortune, but he also was the longtime editor and publisher of The Magazine of Wall Street and the developer of successful methods to analyze and forecast the market.

In this book, originally published in 1922, Wyckoff lays out his insider's knowledge for everyone, especially those who are willing to study before risking one's own money. After all, he wrote, "in Wall Street as anywhere else, the chief essential is common sense, coupled with study and practical experience."

He covers topics such as the six rules he's found helpful, why he adopted Harriman's principle, what he looks for before buying a bond, the earmarks of a desirable investment, the importance of knowing who owns a stock, and how to recognize manipulation in the market. --This text refers to the Hardcover edition.

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Product Details

• Paperback: 190 pages
• Publisher: Fraser Publishing Co. (June 1, 1983)
• Language: English
• ISBN-10: 0870340697
• ISBN-13: 978-0870340697
• Product Dimensions: 7 x 5 x 0.6 inches
• Shipping Weight: 6.4 ounces (View shipping rates and policies)
• Average Customer Review: 3.7 out of 5 stars  See all reviews (7 customer reviews)
• Amazon Best Sellers Rank: #1,191,883 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

77 of 79 people found the following review helpful:

5.0 out of 5 stars A Pioneer, January 14, 2000

By 

dbphoenix (Phoenix, AZ United States) - See all my reviews

This review is from: How I Trade and Invest in Stocks and Bonds (Fraser Publishing Library) (Contrary Opinion Library) (Paperback)

Virtually everything written after Livermore and Wyckoff are variations on themes developed by these two men. Wyckoff was among the first to explain the accumulation-distribution cycle (which makes stock and market timing possible) and to develop the use of "surrogates", self-made indexes which consist of a handful of leading stocks in a group (such as semiconductors), which warn the investor of impending moves, and which enable the investor to filter out all the noise of broadcasters, publishers, newsletters, message boards, and chat rooms.

Understand Wyckoff and you'll understand the engine that drives stocks and markets rather than be distracted by the genuine imitation wood trim and the smell of the leather seats.

11 of 12 people found the following review helpful:

3.0 out of 5 stars Historically interesting, but no profound trading advice., September 15, 2009

By 

David Molina (Valencia) - See all my reviews
(REAL NAME)   

This review is from: How I Trade and Invest in Stocks and Bonds (Paperback)

If you are interested in learning Wyckoff Volume Spread Analysis, this is not the book for that. For an entertaining historical read though, this book is interesting. He talks about trading the old railroad stocks, the importance of knowing what insiders are doing in a stock, and as well, it is chock full of aphorisms that most traders should know, like "Limit Risk", and "Don't be Impatient" etc. but, there's no talk about volumes affect on price.

I was looking for a book describing volume and price relationships. This book is not that one.

I would recommend looking for "The Undeclared Secrets that drive the Stock Market" by Tom Williams if you are interested in learning about Volume and Price Analysis.

7 of 7 people found the following review helpful:

4.0 out of 5 stars Great classic, October 31, 2007

By 

Steve Burns (Nashville, TN) - See all my reviews
(VINE VOICE)    (TOP 500 REVIEWER)   

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This review is from: How I Trade and Invest in Stocks and Bonds (Paperback)

This little classic has great advice in it even though it was written over 80 years ago. It discusses the importance of risk management when trading stocks and how different investing is to trading stocks. The author gives the excellent advice to never average down in price after the first purchase of a stock for trading.(This has saved me a lot of money). I found it very interesting that on one page he claimed that he could trade stocks succesfully if he was away from Wall Street and just received cables of a stocks daily range of prices and closing price while traveling. He claimed that was all the information needed to make trading decisions. He said that it was better to be away from Wall Street and the ticker and rumors. Strangely enough 40 years after he wrote this Nicolas Darvas did exactly that and made $2.5 million trading stocks using cables while traveling the world. This is a great book for beginners.