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Lamont:
I assure you the money I trade now, and have traded since 1990, is mine. But I
think the there is indeed a great deal of difference between being a floor
trader and being a position trader [wherever you stand or sit]. I have done both
now, with my own money and the skill sets you need and the mindsets are quite
different.
Best,
Tim Morge
LCranston wrote:
>
> 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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