RICHARD D. WYKOFF - MY SECRETS OF DAY TRADING IN STOCKS

   

 

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CHAPTER 1 ►

CHAPTER 2 ►

CHAPTER 3 ►

CHAPTER 4 ►

CHAPTER 5 ►

CHAPTER 6 ►

CHAPTER 7 ►

CHAPTER 8 ►

CHAPTER 9 ►

CHAPTER 10 ►

CHAPTER 11 ►

CHAPTER 12 ►

CHAPTER 13 ►

CHAPTER 14 ►

  CHAPTER THIRTEEN
Two Days Trading - An Example Of My Method Applied

BELOW is a record of transactions made by me, results having been obtained by following the methods suggested in these pages on Tape Reading. The object is to show the possibilities in this adventure and to encourage anyone who wants to master the art of day trading.

Please note that out of fifteen transactions, figuring on the buying and selling prices alone, there were thirteen wins and only one loss. One transaction showed neither profit nor loss. Seven trades were on the long side and eight on the short. The stock fluctuated between 166 3/4 and 170 3/8 (3 5/8 points) during these two sessions, and gave numerous trading opportunities. All transactions were protected by a close stop, in some cases not more than 1/8 or point from the original buying or selling price. These stop orders were not always put on the floor. The reason: in such active trading - stops could be changed or cancelled more quickly when they were carried in the head and executed "at the market" when the price hit the required figure.

Qty Stock Trade Bought Sold Loss Profit
200 Reading Long 167 1/2 168 1/4 3/4
200 Reading Short 167 1/4 168 3/8 1 1/8
200 Reading Long 167 1/4 168 3/4 1 1/2
200 Reading Short 169 5/8 169 3/4 1/8
200 Reading Short 169 169 1/2 1/2
200 Reading Short 169 1/8 170 7/8
100 Reading Short 169 5/8 170 3/8
200 Reading Short 168 1/8 169 7/8 1 3/4
200 Reading Long 168 168
200 Reading Long 168 1/4 168 3/4 1/2
100 Reading Short 168 169 1/4 1 1/4
100 Reading Short 168 1/8 169 1/4 1 1/8
200 Reading Long 168 1/8 168 1/2 3/8
200 Reading Long 168 1/4 169 3/4
200 Reading Short 169 1/4 168 3/8 7/8
2700 7/8 11
Commission 3 3/8
Tax (about) 1/4
-4 1/2
Net Profits (Points) 6 1/2

CHAPTER 14 ►