How I Trade and Invest in Stocks and Bonds by Richard D. Wyckoff

Author:Richard D. Wyckoff [Wyckoff, Richard D.]
Language: eng
Format: epub, pdf
Publisher: Left Of Brain Onboarding Pty Ltd
Published: 0101-01-01T00:00:00+00:00

There are many men in Wall Street and throughout the country who make a practice of taking profits in accordance with their ideas of proportion, something like this: They say, “Fifty points is a big profit, even if it is on a small lot of stock; therefore, I will take it.” Others say to themselves, “I have a profit of a hundred per cent on my investment and that’s good enough. I will let someone else have the rest.”

In the case of American Graphophone, I followed a different rule. The number of points, or the percentage of profit, did not influence me. The fluctuations were interesting, but whether the stock went up or down, I decided to wait for it to reach a certain point before I would take profits. This meant the point where the insiders began to sell.

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