Richard Wyckoff Tape Reading & Active Trading Course

Richard D. Wyckoff Tape Reading Course

“He (or she) must study the various swings and know where the market and the various stocks stand.
One must recognize the inherent weakness or strength in the prices and understand the basisor logic of movements.
He (or she) should recognize the turning points of the market.”

Richard D. Wyckoff

Table of Contents

Introduction
The Law of Supply & Demand
Stop Orders
The Immediate Trend
General Rules
Tape Reading and the Longer Swings

Judging the
Immediate Trend
The Use of the Wave Chart
Buying and Selling Waves
Judging Turning Points
Tape Reading and the
Intermediate Trend
Selecting Market Leaders

Buying and Selling Waves
Relationships of Waves
The Wave Chart
Detecting Critical Points
Selection of Leaders
How to Construct the Wave Chart
Support and Pressure
Price Trend
Activity
Volume
Volume and Activity analysis
Increases in Activity
One-Point and Three-Point
Figure Charts
How to Coordinate the Wave Chart
Selecting Market Leaders
The Law of Supply and Demand

Trading Areas and
How to Profit by Them
Ranges of 3 to 5 Points
Volume on Rallies and Reactions
Boundaries of Trading Ranges
Establishing a Position

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The Tape Reading Chart
The Tape Reading Chart
Three Vital Factors
Study of J. I. Case

How to Determine Buying and Selling Points
The Wave Chart and
the Market’s Technical Position
The Tape Reading Chart with
the Wave Chart
Buying and Selling
Anticipation of a Change

Judging Strength or Weakness by
Half-Way Points
Half-Way Points
Floating Supply Reduced
Disciplined Training

How to Keep the Percentage in
One’s Favor
Stop Orders
Risk at ½ to 1 Point
Commissions and Overhead
The Law of Supply and Demand

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Trading on Initial Activity
A Stock Becomes Active
The Tape Reading Chart
Vertical Line Charts

Judging the Market by
Tests and Responses
The Composite Operator
Testing Groups
Activity and Latent Buying Power
The Law of Supply and Demand

The Best Stocks for
Active Trading
Primary Requirements
Secondary Requirements
Leadership
Volatile Issues

Stop Orders and
Other Vital Points
The Use of Stop Orders
Judging Efficiency
Time Limits
Qualifications
Trading

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Course Description
Your Tape Reading and Active Trading Course includes:

Tape Reading and Active Trading text
10 tape recorded lectures

The ten tape recorded lectures include:
Philosophy
Wyckoff Method
Charts
Intra-Day Charts
Responsiveness
Stop Orders
Trading Positions – Markup
Trading – Markdown
o Trading Positions – Trading Range
Setting Up “Shop”

The complete Tape Reading and Active Trading Program is made up of one printed volume and 10 recorded lectures. The one volume text contains 13 study sections (sometimes called assignments or lessons) and 6 chart studies.

Each study section is a short programmed unit:
it contains the discussion material, a summary
of the important points in that section, and a short self-grading quiz.

This has been planned so that you can complete almost any unit in one evening — a few hours — of a truly enjoyable and exciting learning experience. Follow these directions for a truly effective learning of the technique for trading
the intra-day 3 to 5 point moves.

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Course Directions

To master the principles which are the heart of the Active Trading program, we suggest you skim the entire text completely through the
first time without interruption — Preface,
Table of Contents, Important Points, Self-Quiz Tests, Chart Studies — to “get the feel of the material.”

Your next reading of the text should be
thorough and cover all of the material — from beginning to end.  Underline definitions and key sentences as you proceed. Make notes of each item you want to remember, or ask about, in the ‘Notes’ column to the right on each of the pages which cover the major principles.

This reading should include a very careful study of the charts, text and related cross references. It should also include a review of the Important Points, the Self-Quiz tests, practice on each of the principles, with actual charting projects
and interpretation of the data compiled
for the stocks included in the text.

Self-Quiz

In addition to the Important Points
(or summary) for review of the important principles
at the end of each section, we have included a
Self-Quiz.

The Self-Quiz in each section is a short test you can complete in a matter of minutes. This is a check on your understanding of a given subject. After you select your answers you can score yourself by referring to the Answer Key in the back of the text.