Bulls, Bears & a Croupier: The insider's guide to profiting from the Australian stockmarket

Chapter 13: Don’t fight momentum

In the 1990s no-one was a tougher trader on the floor of the Sydney Futures Exchange than Brian Price. He drove to work in a large, petrol-guzzling car with massive shark teeth painted on the doors, turning heads when he sped past. Suited up in military fatigues, he would stride onto the floor, flanked by two trusted lieutenants also kitted for war. Trading on the futures floor was not a game for wimps and no-one messed with the Canadian-born Price. He had cut his teeth trading futures, leading up to and through the war zone that was the 1987 stockmarket crash. He then rose from the ashes to carve out a very profitable stint as a local on the floor (a local trades their own money and not an institution’s). He ...