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The following are some important difference in principles, between open outcry and
electronic trading shenanigans.
In the case of the keyboard jockeys,there is still the element of "RISK" in their
actions (as in my previous postings on this subject) which in principle, as any
money involved endeavor, should be rewarded, as compared to the outcry, where some
methods doesn't involve risk at all, almost free money from clients. (Their only
risk is lelgal, but that is in the eyes of the law,
which sadly is outside the trading floor,so, fat chance! If they have undercover
FBI traders among them, but frankly, with traders who are so famillar with each
other,they can still do their "thing" even with an FBI agent standing between
them, you know, runnning circles right under the FBI guy's nose., that is, if they
are really good at it already and very well oiled.) So RISK element is an
important difference.
Second,in the electronic jockeys, they don't necessarily need client's information
before hand as compared to the outcry, which is essential. So, there's nothing
unethical or conflict of interest.
And finally, my opinion (example) is, let's say I am a parachutist, (a risk taking
activity like trading), ah yes, I practice, educate, physically, mentally prepare
myself all the techniques (like trading, education, development of methologies
whether technical,
or fundamental, or whatever, and psychological preparation) to make my activity
successful, right?
What is the chance of a successful jump (profiting), if there are rats chewing in
my well prepared and well packed parachute the night before?
Despite being being so well prepared?.
So, I just want to clean out these rats in my locker to improve my chance (better
odds) even just by one percent. It counts, you know.
At least in trading , if I fail, can determine better and shorter time (earlier
and cheaper too), where the did I go wrong.?
Also compared to the stockmarket, the damage is not as bad as (shudder) a call
from the margin clerk.
Yes, in any money making activity throughout history and speaking as a human
being, people will always find a better way to extract it,but the basic difference
is in the ethics of right and wrong.
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