The Tape Never Lies…
But Your Mind Does
Wyckoff’s Timeless Trading Wisdom Still Holds True Today
Well, that’s another trading week almost in the books.
The day’s not over yet, but Fridays can be a minefield… Risk management comes first.
Nothing worse than heading into the weekend stewing over a reckless Friday loss just because you were running on fumes!
So, let’s wrap up with a timeless quote from tape-reading legend Richard Wyckoff…
NERVE, SELF-CONTROL, & PERSISTENCE
“He must have the nerve to stand a series of losses; persistence to keep him at the work during adverse periods; self-control to avoid overtrading; a phlegmatic disposition to ballast and balance him at all times.”
— Studies in Tape Reading by Richard D. Wyckoff
Back in Wyckoff’s day, they didn’t have screens, algos, or high-frequency trading… but the game was still the same.
Traders overtraded. They let losses rattle them. They hesitated. They went on tilt.
And Wyckoff knew exactly what separated the wheat from the chaff:
Resilience Discipline Restraint Emotional control
Same game, different tools. The ones who mastered these? They made it happen.
The ones who didn’t? They blew up.
Nothing’s changed.
If you can just stay dialled in, you’ll put yourself ahead of 90% of traders out there.
It’s not about finding the magic strategy, it’s about executing with consistency, discipline, and control.
The tape never lies… but your mind will try to.
Master that, and you master the game.
Enjoy the weekend, reset, and come back stronger on Monday.