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Trade Secrets: Powerful Strategies for Volatile Markets by Adrian Manz

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CHAPTER 1. Introduction

THE 1990S WERE a very good time to trade stocks, and I was lucky enough to start my business during the boom. I was luckier than I knew. I had decided to focus on the New York Stock Exchange. At the time, NYSE-listed securities were traded exclusively in the ‘specialist’ system, which allocated one security to a single specialist on the floor of the exchange. The firm this person represented was the only one transacting business in the stock, and it was very likely that the same person was on the other side of the trade every time I bought or sold a share. The notion of a human on the other side of every trade spelled opportunity to me.

As a psychologist, I thought that anticipating the actions of one NYSE specialist ...

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