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Timothy Morge wrote:
>
> Neal T. Weintraub wrote:
> >
> > Let me know what you think.
> > Best
> > neal
>
> Neal:
>
> Well, that was my life as a market maker. I am a trader now, a speculator. Quite a different exercise. But your interview with the good
doctor was quite informative and spot-on.
Thanks for letting me read it.
Tim
Being a market maker is very different than trading your own money. When
trading the banks money or any other institutions money it is more like
monopoly money, and there the decision process is much less stressful
than if it were your own money. I think the same would hold true of a
floor trader as opposed to an off floor trader with the exception that in
both cases the money you are trading is yours. You have the same sense
of awareness that you are risking your money, but as a floor trader your
order execution is much quicker and with less execution costs and
less slippage.
Lamont Cranston
"who knows what evil lurks"
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