Today, I leave for Las Vegas but wanted to leave you with “The Trader’s Prayer”, which was published in Richard Wyckoff’s Stock Market Technique Number Two. Although it was published back in the 1934, I think most traders can still relate to it.
The Trader’s Prayer by Richard Wyckoff
O Lord, incline their ear toward my troubles. You know how this market has been going down and down for weeks and weeks, and how I have been hanging on by my eyelids, and how my broker has beseeched me for margin from time to time. You, who are all-powerful, can certainly stop this decline if only you would; and I am sure if you realized how badly this market needs your support, you would do this – in a minute. Rally this market and send all of those bears to hell for taking the money out of the pockets of widows and orphans, not to mention your humble servant.
O Lord, of course I hope you will make an exception of Allied Chemical, of which, as ou know, I have been short as a hedge. Don’t raly that one, O Lord, for you well know that stock is selling far above what it is worth.
Le they blessing rest upon my broker and all his customers’ men, that their brand of information may be improved and their market opinions may e of far more value to me in the future than they have been in the past; especially that fellow Swift, who is always calling me up and jumping me out of some stock and making me buy some other. Bless him, O Lord, but make him give me a good tip once in a while.
And so spread your benign influence over all the rest of the word that the bear news will not be so bearish and things will improve for me and for all the rest of your servants.
Hear my prayer, O Lord, for I cannot hang on much longer.