"The large operator does not, as a rule, go into a campaign unless he sees in prospect a movement of from 10 to 50 points. Livermore once told me he never touched anything unless there were at least 10 points in it according to his calculations."
So writes Richard Wyckoff, the legendary trader who in the 1930s wrote a manifesto that gained him a cult following on Wall Street.
His 1931 book, "The Richard D. Wyckoff Method of Trading and Investing in Stocks – A Course of Instruction in Stock Market Science and Technique," is somewhat difficult to find these days (not impossible), but even in 2013, hedge fund managers still swear by it.
One of the key takeaways from the book is that if you want to succeed, you have to learn to recognize the professionals and understand what they are doing. That's what those who follow Wyckoff do — they watch the big operators.
Wyckoff walks us through the process of how a big operator will manipulate a stock up or down — so that next time one sees it unfolding on the screen before his or her own eyes, he or she can react accordingly.
nice article thanks news
this is a good read and one of the most interesting books ive read,
possibly might be of interest to others and covers the same as the article below
written in either the late 1890's or early 1900's can't remember the exact date
but shows the markets have nt changed a bit,
Nice book WR1
Now you ruined my weekend (reading instead of resting )
never ends does it ?
i'm going to have to re-read it also, as its been a while
another quite interesting book along the same theme, but more modern,
also from Tradeguider,
well worth a look if never seen before
(from ex market manipulator and syndicate trader Tom Williams / Master the Markets)