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Technical Analysis Trading Methods and Techniques (Collection) by Quint Tatro, Tracy L. Knudsen, Richard A. Dickson, Ed Carlson

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Chapter 1. I’m Trading Against You

I sat in front of my six screens like a hawk high on a limb, watching the flickering symbols race across my level-two quote box. Market breadth had been horrible all day, notching 5 – 1 decliners over advancers, capping off a week that looked as if the indices would finish close to 5% in the red. I had been nailing the short side all week and was ready to book hefty gains against unsuspecting latecomers and amateur traders who actually believe they have a leg up with their basic technical analysis. I sifted through countless charts, and each one walked a very fine line, looking as if at any moment they would plunge to their deaths, cratering into the abyss. I imagined the number of traders cuing up these exact ...

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