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Trader Legend Richard Wyckoff

Updated: Aug 30

Richard Demille Wyckoff (image attached at the bottom of the post) is well known for his trading method called The Wyckoff Theory.

The name was derived from his surname which has come to be a well know trading method.

This post will be focusing on his persona, his research, and teachings, and how he became one of the well-known investors for generations that came after until this day.


His personal life


Richard Wyckoff was not a lucky man in the love lane, Wyckoff married three times, but his third time was the lucky charm the third person he married was a woman called Alma Weiss.

In 1928 Wyckoff charged his second wife whom the media called Prima Donna, She had wrung control of the Magazine of The Wall Street from him, Their separation ended in payment in half a million dollar’s worth of the company’s bonds into his name, a really good outcome for him.


His research and teachings


Mr. Wyckoff was a fundamental & technical trader, he used his methods in stocks, the commodity market, and the bond market during the early 1900s, his wealth grew to a point where he owned nine and a half (9 ½) of land and a mansion close to the Hamptons estate of General Motors president Alfred Sloan in Great Neck, New York.


He then turned his attention to teaching; Wyckoff documented the methodology he traded. His findings claimed many common characteristics, he believed he had analysed where R:R (risk to reward) would be optimal, the Wyckoff blog that will be upload next will provide some of his teachings in depth.


He also offered a detailed analysis of the “trading range", a posited ideal price bracket for buying or selling stock along with all this, he felt that it was an important psychological and tactical advantage to stay in harmony with this omnipotent player.


Wyckoff believed investors would be better prepared to grow their portfolios and net worth by following in his footsteps.


Richard Wyckoff wrote many books about his theory and how he knew the markets, there are numerous books you can purchase and read to truly understand the great mind of Richard Wyckoff.

Many teachers come after Richard Wyckoff took on his teachings and formed there own theories using the understanding of how Richard Wyckoff understood the markets. some examples was Bob Evans, David H Weis. Tom Williams and many more.


His death


Sadly everyone must leave this earth at some point, for Mr Wyckoff it said he died on march 7 1943 in Sacramento, California. His body was taken to a funeral chapel in Brooklyn, New York. This is according to the Brooklyn Daily Eagle newspaper (published Monday, March 12, 1934)


References

  • The Richard D. Wyckoff Course in Stock Market Science and Technique, Volume One, Section 9 (1931).

  • Pruden, Henry O. Wyckoff by Action Sequence, Golden Gate University, Ageno Business School. San Francisco, California.

  • Pruden, Dr. Henry O. and Fraser, Bruce. “The Wyckoff Method Lectures.” The Golden Gate University. (Fall 1992, Spring 1993).

  • "The Wyckoff family in America : a genealogy," Part II, page 375. Published by The Wyckoff Association of America, 1950.

  • Time - The Weekly Magazine. Volume XII, Number 24. December 10, 1928.



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