Market Philosophy – 25M
IMPORTANT POINTS
1. The two chief ingredients to success in the stock market are: a. the knowledge of the proper principles b. the ability to apply those principles
2. Above all: show good judgement, self-reliance, courage, prudence, pliability, and last but not least, patience for successful trading in the market.
3. Control your emotions.
4. Capital and courage are necessary for actual trading.
5. Show prudence – do not trade in unduly large sums of money.
6. When in doubt: get out of the stock market.
7. Let your charts indicate what your profits should be.
8. Wait for the best opportunities before investing.
9. Never make a commitment until you have made a thorough study of the position, background, and present behavior of a given
stock.
10. Do not ask others for advice, nor should you occasionally scan the ticker tape for guidance to determine the action of the stock market.
11. Do not mix the principles of the Wyckoff Course with other theories of market analysis.