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Neal T. Weintraub wrote:
> I plan to expand on Tricks, Trips and Traps. Mark Brown may make a
guest opinion and talk about why the South Really Won the Civil War.
You won the war because you had better shoes, that has been fixed, I
have at least 50 pairs on standby now.
> You guys have been very helpful. I see that you are more advanced in
computer software than we are in Chicago. And that in some ways, the
folks in Chicago, the pit trader has a little catching up to do.
Yes, I'm surprised to see you admit it! That is a good first step for a
floor guy. You need to know the upper room isn't just a place that
someone retires to because they made it all on the floor. Also some
upper rooms are in Dallas, they aint all in the windy city.
> However, the concept of bidding and offering the market will still be
done on the computer.
This Neal is unfortunately for floor brokers untrue. I have been
involved with a project that artificially does bid and ask. It is being
beta'ed right now as we speak. It uses a matrix of bid and ask criteria
that each buy/sell party specifies and through the use of a super
computer it will anonymously match the buyers and the sellers. Also a
worthy note is the standards being set by yet another southern group,
this will and has set the standard for major brokerage houses order and
transition standards. In fact two very big firms are using it now.
This allows a fully computerized program to directly enter orders on its
own and the standards of the format in which it does this will be also
used to do the real time back office. Again all fully automated, all
this is fact and not fiction. With the advent of all this technology I
still wonder if I shouldn't invent some kind of necklace that would
block a persons ability to let their arm reach out for the phone and
override their system?
Unlike some I believe there are many ways to make money in the markets.
Somewhere I believe there is a blind and deft floor trader that is doing
just fine, likewise there is a drunk on a park bench doing hand
charting that could buy us all and burn us with the money he's made. I
also believe there are some sophisticated computer jockeys and some not
so sophisticated doing just fine. All pulling money out of the market
in various ways, I believe for me to live in vacuum and reject any
other methods than what I know and understand is stupid on my part.
Most people hate and ridicule methods of trading that they don't
understand, I would make a challenge that I believe I could make money
with any old standard well known method. How? just by understanding the
logic and its weaknesses, I know its strengths are proposed to make
money. Do they? well only experience and loosing your own valuable
money will temper your knowledge to near completion. If smarts were to
measured by personal loss, then I'm Einstein.
Back to you, Mark Brown
Imagination is More Important than Knowledge : Einstein
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