Why did you assume stocks "only go up"? The average lifespan is 18years, meaning if you short a random basket of single names, unless you're very unlucky, you're expected to make 100% every 18years or so. It's actually much easier than trying to find big runners to the upside. https://economictimes.indiatimes.co...nseys-dominic-barton/articleshow/50775384.cms
I've found a way to be relatively successful the past few years with a very niche strategy. I am not sure it will be sustainable forever...it is not always fun fighting the fed in this market. It would be nice to be able to not just limit myself to 1 way of trading......I was interested how most traders at prop shops find their own edge.
True, traders who can win consistently betting against the trend are rare. At its core, betting against the trend is a low probability trade with limited potential, unless the trader can capture a complete reversal of the trend.
There may be something to learn about how inventory is accumulated....it is worthwhile knowing, as a retail trader what may come your way.
Generally, I find this book entertaining. But what confuses me is his usage of magic T indicator. In those days, were the market cycles intraday that predictable?