Trading for a Living by Frank Marshall

Author:Frank Marshall [Marshall, Frank]
Language: eng
Format: epub
Tags: Business, trading
Publisher: Marshall Press
Published: 2015-02-22T05:00:00+00:00

Discussion: In today’s age of HFT (High Frequency Trading), co-location, and flash crashes, many traders worry about manipulation.

But manipulation was always present, even in Wyckoff’s day. And it is volume that reveals it. Nothing can hide huge volumes, which shows that big traders have sprung to action. Pay attention to volume patterns.

Advantage Over Big Traders

“The trader has many advantages over the long swing operator. He never ventures far from shore; that is, he plays with a close stop, never laying himself open to a large loss. Accidents or catastrophes cannot seriously injure him because he can reverse his position in an instant, and follow the new-formed stream from source to mouth. As his position on either the long or short side is confirmed and emphasized, he increases his line, thus following up and cumulating the advantage gained.”

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