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> 1. Are there crooked floor traders who peeps at public's orders or front run
> their
clients? Yes or No
> 2. Do they take or make money from ? (at least most of it)
>
> A. the publics's pockets or B. among themselves
>
> 3. Will the legendary 95% losers among the public, trim just a little by at
> least 1% due to this new paradigm? Will odds improve or be better for the public
> at least even just a little? (like odds in a casino)
>
> Yes or No
>
P.S
My definition of "public" is not just individual off floor traders, but everyone
else (like funds,institutions, or even the smart money), who are outside the trading
floor physically.I agree incompetent public will still lose money any which way,
but how about the others who are making some, or those even a little, me thinks
their returns can only improve in the long run when the battlefield is becoming more
level . Don't think those 95% losers are all stupid, some are still on their
learning curve (even the wizards past through this stage), that is, if they last
long enough and evolve to become successful. That is the big question.
> Like the character of Joe Pesci in the movie Casino, you beat him up, he comes
> back with a bat, you use a knife on him, he comes back again with a gun, you use
> a gun you better make sure you kill him or you'll be sorry. Are you that
> persistent?
>
>
> > Date: Friday, August 07, 1998 5:07 AM
> > Subject: What will happen when open outcry pit desappears ?
> >
> > >Hi,
> > >
> > >There was rescently a posting on this forum remarking how on
> > >one US futures exchange, 'locals' become redundant within weeks
> > >of introduction of the electronic order matching.
> > >
> > >What I would like to ask is whether this novelty will change
> > >nature of the trading ?
> > >
> > >For example if computers are matching orders, than there should
> > >not be running at public's stops ( 'washing' ) by floor traders.
> > >It seems logical to expect that all the little dirty tricks floor
> > >traders were using against the public will simply dessapear. Like, as
> > >well, 'killing the public' half an hour before closing the exchange ?
> > >
> > >As well, what do you think, will we need to change and retest
> > >our trading systems ( with no historical data to match ) ?
> > >
> > >Regards
> > >Dejan
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