Richard Wyckoff was a pioneer in studying the stock market using technical analysis in the early 20th-century. Considered as one of the "titans of technical analysis," Wyckoff developed a chart-based method, known as the Wyckoff Method, that judges the market by its own action, allowing practitioners to track and trade i i i i i i i i i i in alignment with institutional money flow. His revolutionary approach to technical analysis has survived into the modern era, guiding trade i i i i i i i i i irs and investors on the best ways to pick winning stocks, the most favorable times to buy them, and the most effective risk management techniques. Wyckoff dedicated his life to instructing and advising young investors on the trading rules they should follow to achieve success in the stock market, which he termed as the "real rules of the game". He also founded and, for nearly two decades wrote, and edited The Magazine of Wall Street, which, at one point, had more than 200,000 subscribers.
MORE ABOUT RICHARD WYCKOFF
Later in his career, Wyckoff devoted his attention and passion to education, teaching, and publishing exposes.
He is considered one of the five “titans” of technical analysis, along with Dow, Gann, Elliott and Merrill.
He also founded a school which later became the Stock Market Institute.
THE WYCKOFF METHOD
According to Wyckoff’s rules, a price trend never repeats itself exactly and trends must be studied in context with past behavior.
WYCKOFF'S FIVE-STEP APPROACH
Select stocks in harmony with the trend. In an uptrend, select stocks that are stronger than the market
Select stocks with a "cause" that equals to exceeds the minimum objective
Determine the stocks' readiness to move